Finance

After stagnant annual growth for a couple of years, the rooftop PV market is showing signs of improvement with the usual obstacles no longer so daunting.

The company will invest INR 250 crore for the R&D and manufacturing of cutting-edge technologies in the e-mobility segment.

The company has signed a memorandum of understanding with the state government to invest INR 1,200 crore for the design, development and manufacturing of new products and capacity expansion in the electric vehicles space.

The renewable energy developer is ready to invest INR 18,000 crore (US$ 2414.29 million) in setting up a 50 kilotonne per annum green hydrogen production plant in the State. 

First, the bad news: PV modules will be caught up in the global wave of inflation. After a very brief respite, prices are picking up again for almost all module technologies. But the changes recorded for early October are paltry compared to the price increases still to come, writes Martin Schachinger of pvXchange. As of the cutoff date for this market survey, some manufacturers had already announced even more significant upward corrections for future deliveries. The price adjustments shown in the October index are thus only a tentative start to rises of no less than 15-20% over the price levels that prevailed just a few weeks ago. However, this will probably be the last price correction we can expect at the manufacturer level until the end of the year.

Out of this, investments totaling US$ 8.4 trillion would be needed by the power sector alone to significantly scale up generation from renewable energy and associated integration, distribution and transmission infrastructure. Another US$ 1.5 trillion would have to be invested in the industrial sector for setting up green hydrogen production capacity to advance the sector’s decarbonization. Investment needed for the mobility infrastructure would be US$ 198 billion.

The pre-bid conference for the 50 GWh battery storage tender under the production-linked incentive (PLI) scheme saw the participation of around 20 prospective bidders. The conference was organized by India’s ministry of heavy industries to discuss and address the bidders’ queries.

Virescent Infrastructure shall use the proceeds primarily to refinance special-purpose vehicle (SPV) level debt and fund future acquisitions. 

The increase in the financial layout will help accommodate more manufacturers under the government’s production-linked incentives scheme to support gigawatt-scale manufacturing of high-efficiency solar modules. 

The Telangana based power distribution transformer manufacturer and installer had placed an INR 1,875 crore incentive bid to set up a fully integrated 4 GW polysilicon-to-module fab under government’s production-linked incentives scheme.