India needs $223 billion to meet 2030 wind, solar goals
India requires $223 billion of investment over the next eight years to reach nearly 280 GW of solar and 140 GW of wind capacity by 2030.
Solar auctions in India to attract large developers
A new report shows that renewable energy companies will continue to compete in upcoming auctions in India, undeterred by challenges such as rising materials costs and surging interest rates.
Hinduja Group invests in UK second-life battery storage specialist
Hinduja Group, an Indian multinational, has invested GBP 15 million (($18.4 million) with four other investors in Connected Energy, a developer of energy storage systems based on second-life electric vehicle batteries. The investment will help Connected Energy to scale up its operations and move into utility-scale project development.
ReNew’s operational renewables portfolio hit 7.6 GW in FY2021-22
ReNew Power’s total income rose 27% year on year to INR 69,195 million ($912 million) in fiscal 2021-22, on 130 MW of solar capacity additions in the fourth quarter alone. Its overall renewables portfolio rose to 10.7 GW at the end of March, including 7.6 GW of commissioned capacity and 3.1 GW of committed projects.
Premier Energies, Azure Power partner on solar cells, modules
Premier Energies and Azure Power have signed a strategic alliance under which Azure will invest in Premier’s 1.25 GW mono PERC cell and module facility in Telangana. It will also source 2.4 GW of solar modules from the plant over the next four years.
Tata Power posts 50% jump in net profit for FY2021-22
Tata Power’s profit after tax grew by 50% year on year to INR 2,156 crore ($276 million) for the fiscal year ending March 31, 2022.
Indian renewable energy sector recorded $14.5 billion investment in FY2021-22
The investment needs to more than double to $30-$40 billion annually for India to reach the 2030 renewables target of 450 GW.
Ayana wants to develop 2 GW of solar and wind projects in Karnataka
The Bengaluru-based renewable energy producer has signed an Expression of Interest with the Government of Karnataka to invest around INR 120 billion ($1.54 billion) in developing 2 GW of solar and wind projects in the state.
Acme to invest in green hydrogen, ammonia plant with captive solar in Karnataka
Renewables developer Acme Cleantech Solutions has signed a deal with the Karnataka government to invest INR 52,000 crore ($6.7 billion) in a new plant capable of producing 1.2 million tons of green hydrogen and ammonia per year, co-located with a captive solar plant.
ReNew Power signs deal for INR 50,000-crore renewables, storage project in Karnataka
Developer ReNew Power will invest INR 50,000 crore ($6.5 billion) in solar, wind, hybrid generation, battery storage, and green hydrogen projects over a period of seven years.
