Finance

Adani Green Energy will set up 1.35 GW of pump storage projects with an investment of over INR 5,000 crore ($601.48 million) in the Indian state of Telangana. Adani Enterprises Ltd (AEL) will also invest over INR 5,000 crore in a 100 MW data centre, powered by renewable energy.

Torrent Power will develop 3,450 MW of solar power projects, 1,045 MW of hybrid power projects, and the solar park infrastructure for a 7 GW solar power project in Gujarat. It will also set up a 100 ktpa green hydrogen/green ammonia production facility in the state.

The Gujarat International Finance Tec-City (GIFT City) has partnered with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corp. (GSPC) to establish a global hydrogen trading mechanism.

Eight companies emerged as winners in Solar Energy Corp. of India’s 1.5 GW electrolyzer manufacturing tender under the production-linked incentives scheme.  

Avaada Group has signed an agreement with the government of Gujarat to develop 6 GW of hybrid wind-solar projects with an investment of INR 40,000 crore.

Proceeds from the issue of the bonds will be applied to finance the eligible green projects.

Engie will invest INR 17,200 crore towards the development of 2.5 GW of renewable energy projects by 2030 in Gujarat. It will also collaborate with the Gujarat government for decarbonization initiatives in the state.

Reliance Industries and Adani Group, which have made big investments in creating an integrated renewable energy ecosystem in Gujarat, announced their further plans for the state at the 10th Vibrant Gujarat Global Summit.

The Scheme targets the electrification of 100,000 un-electrified households in tribal areas by providing off-grid solar solutions free of cost. The solutions will be installed in areas where electricity supply through the grid is not techno-economically feasible.

Adani Green Energy will invest INR 24,500 crore in setting up three pumped storage plants with a cumulative capacity of 4.9 GW in Tamil Nadu.