No excuses, India must ramp up solar manufacturing to reduce reliance on imports
Through various initiatives and schemes, the Indian government has created a conducive environment for industry stakeholders to expand domestic manufacturing. The industry should seize the opportunity to ramp up capacity and manufacture emerging technologies such as monocrystalline (mono-Si), bifacial and half-cut cells, micro-inverters, and tracking equipment, all of which promise further solar efficiency gains over the coming years.
IEEFA warns the financial risk for new coal under-estimated
A new IEEFA report says the levelized cost of energy (LCOE) for coal in India is calculated based on an overestimation of factors such as utilization rates. The deemed low cost per unit of energy makes coal-fired plants look more attractive to potential investors than these really are!
FAME II subsidy scheme extended by two years
The second phase of the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) subsidy scheme to promote electric mobility in India will now run until March 31, 2024.
MUFG closes US$ 163 million finance for Azure Power’s 300 MW solar project
The latest transaction follows MUFG’s commitment to the debt funding facility for Adani Green’s under-construction hybrid portfolio of solar and wind projects in Rajasthan.
Fourth Partner Energy raises US$125 million in equity funding from Norwegian and US investors
The Hyderabad-based corporate solar solutions provider would use the funds towards business expansion across Indian and International markets as it targets 3 GW of installed solar capacity by 2025.
Sterling and Wilson Solar’s order book grew 72% in FY2021
However, one-off exceptional events in the fourth quarter hit the solar EPC player’s overall fiscal performance. These included a prime subcontractor going bankrupt in Australia, rising module prices, and increased freight costs.
EXIM Bank to finance rural electrification solar projects in Togo
The Togolese government aims for universal access to electricity this decade and for half of its power to come from clean energy sources under the National Development Plan (NDP).
New renewables cheaper than legacy coal or gas for almost half the world’s population
Electricity bill payers in nations as diverse as China, India, Germany, and Greece should be aware new solar projects can now generate electricity cheaper for them than legacy coal and gas-fired plants.
Reliance Industries unveils $10-billion plan for solar and energy storage
The diversified business group will invest over INR 60,000 crore ((US$ 8.1 billion) over the next three years to build Giga factories for solar, energy storage, electrolyzers, and fuel cells, respectively, to create a fully integrated, end-to-end renewables energy ecosystem. Additional INR 15,000 crore (US$ 2 billion) is planned to create a value chain, partnerships, and future technologies.
India could add 13.75 GW of solar module and 6.9 GW cell capacity by December next year
The government’s renewed efforts to curb solar equipment imports and upscale domestic manufacturing have started bearing fruits. The launch of the production-linked incentive (PLI) Scheme and the imposition of a basic customs duty (BCD) on imports have favored domestic capacity expansion.
