Finance

Ratings agency Crisil analysts estimate India will have 38-43GW of annual solar module manufacturing capacity by the end of March 2025. Production capacity will be driven by strong domestic demand, favorable government policy, raised module conversion efficiency, and price competitiveness, according to the ratings agency.

The state-owned power company, a partner of the International Solar Alliance, will help the Cuban government with developer selection and the signing of project agreements and will oversee solar plant implementation up to commissioning.

Director Nidhi Gupta told pv magazine that the company had signed the agreement to invest INR 500 crore (US$67.2 million) in building a 120 MW solar park in the Bikaner district of the State. The solar park will provide plug-and-play infrastructure for captive solar projects.

The production-linked incentives scheme for advance-chemistry battery cell manufacturing received an encouraging response with bids received for 2.6 times the 50 GWh manufacturing capacity to be awarded.

The Mukesh Ambani-led diversified business conglomerate has agreed to invest INR 5 lakh crore (US$67.6 billion) in building 100 GW of renewable energy capacity and green hydrogen eco-system in the State. It will also invest INR 60,000 crore (US$8.1 billion) in setting up manufacturing facilities for new and renewable energy equipment including solar modules, electrolyzers, energy-storage batteries, and fuel cells.

The Indian state-owned electric transmission utility company has signed an agreement with infrastructure investor
Africa50 to develop 400kV and 220kV transmission lines in east African country Kenya under a public-private partnership framework.

The State-controlled renewable energy and energy efficiency lender has launched a scheme to finance new and emerging technologies that promote and increase the usage of renewable energy in the transport sector. 

Wood Mackenzie has predicted solar equipment cost increases will ease back after last year saw the average cost of solar electricity rise for the first time in the Asia-Pacific region.

LG Chem’s energy storage and battery division’s $10.7 billion initial public offering received a staggering response from institutional investors, Reuters has reported.

Solar manufacturer Waaree Energies had filed its draft red herring prospectus (DRHP) with Sebi in September last year. Jharkhand has started getting 200 MW of solar power from Gujarat at a price of INR 2.5/kWh under a 25-year PPA with SECI.