Mini-grid company Husk Power doubled revenues in 2020
Bihar-based Husk Power Systems—which operates more than 100 mini-grids in India and Africa—recorded a 90% year-on-year growth in revenues and quadrupled business customers to 5000+. It expects the growth momentum to continue in 2021, with a 125% rise in revenues.
Borosil Renewables posts a 74.3% y-o-y revenue growth in first nine months
The Indian solar glass manufacturer reported net revenue of around INR 300 crore during the current fiscal’s nine months ended December 2020, with the best-ever quarterly earnings of INR 140 crore coming from the third quarter.
Indian trough highlighted by Chinese solar glassmaker
Xinyi Solar has posted bullish annual figures on the back of an astonishing rebound in the global market following Covid travails at the start of 2020. There is one national market, however, which has not been invited to the party.
Ieefa proposes a three-pronged approach for grid firming
A new report discusses battery storage, green hydrogen, and flexible coal-fired power generation as key grid firming options for India as solar and wind are poised to form 51% of the nation’s total installed generation capacity by 2030.
ReNew Power to merge with US firm for NASDAQ listing
Proceeds from the transaction with RMG Acquisition will be used to support ReNew’s growth strategy, including the buildout of its contracted, utility-scale renewable power generation capacity and to reduce debt.
Essar Power to set up 90 MW solar plant in Madhya Pradesh
The private power producer will set up the proposed solar plant in the Datia district in two parts of 33.7 MW and 56.17 MW. The project is expected to be completed by June 2022.
Indian startup Solavio Labs raises Canadian fund
The solar panel-cleaning robot startup, which saw its sales jump 125 times last year, has thus far raised three levels of funding amounting to INR 2 crore from government bodies in India, Dubai, and Canada.
India-US climate ties must prioritize green transition finance
A new report says the United States and India have an opportunity to partner to catalyze foreign institutional investment in India’s green transition. It lays out what such a partnership should look like and how it would benefit both countries and the world.
High hopes from PLI scheme for solar manufacturing
India’s production-linked incentive (PLI) scheme—which targets 10 GW of integrated solar PV manufacturing capacity within two years—will spur demand for locally produced materials like ethylene vinyl acetate (EVA) sheets, solar glass, backsheet and junction boxes, too.
Global investors bet on India’s renewable energy sector
A new report highlights key investors finding opportunity in India’s US$500-billion renewable energy infrastructure development and various factors driving these investments.
