Finance

A new study provides a first-of-its-kind assessment of grid-scale energy storage deployment in India both in the near term and the long term. The researchers conducted scenarios-based capacity expansion modeling to assess when, where and how much energy storage can be cost-effectively deployed in India through 2050. In all scenarios, energy storage was found to play a significant role in India’s power system.

The company’s revenue from EPC and operations and maintenance business stood at INR 1,195 crore, a 12% growth over the same period in the previous fiscal year. The gross margins remained suppressed owing to an increase in module and commodity prices.

The New Delhi-based independent power producer has issued its third green bond as it looks to raise US$414 million. The coupon rate is the lowest ever for any renewable energy company in India.

Full ownership allowed in renewable energy projects and 25-year power purchase agreement are the major factors drawing foreign investors to India’s high-growth solar market. Major developers in India have solar portfolio distributed across States, which further minimizes the risk for investors.

The transaction expands Canadian pension plan’s investment in clean energy, consistent with its long-term strategy to increase footprint in this growing sector.

Copenhagen Infrastructure Partners and Amp Energy have signed a US$200 million investment pact with each partner committing to $100 million. The investment will allow Amp Energy to add 1.7 GWp of utility-scale and commercial and industrial renewable energy projects.

The Indian developer has a cumulative 4.8 GWp solar portfolio, including 2.2 GWp operational and another 2.6 GWp under-construction projects. It will use the proceeds from the green bonds to finance twelve of its solar assets in India. 

The equity investment is expected to see Federal Bank increase the financing for green projects including energy efficiency, renewable energy, climate-smart agriculture, green buildings, and waste management.

A new report says solar-plus-energy storage will become an attractive investment option for commercial consumers in India as early as 2023 for electricity bill reduction. For high-tariff paying residential consumers, the system will reach grid parity post-2027. The report findings are based on the levelized cost analysis of solar-plus-energy storage systems for consumers in the Indian State of Tamil Nadu.  

Potential price rises of 14% for the solar home systems that are driving access to electricity in the world’s under-served regions could signal further arrested progress towards the UN goal of universal access by 2030.