Finance

A report by Norwegian energy consultant DNV GL has considered the opportunity for long-term energy storage to play a role in balancing annual supply and demand fluctuations in a renewables-led grid. Using 58 years of Dutch weather and energy consumption data, the study found long-term solutions such as green hydrogen could make a valuable contribution – but perhaps not as much as some analysts believe.

The New Delhi based lender—which has funded over 45 MW of distributed solar energy assets—will use the new investment to catalyze the growth of residential and commercial solar systems, solar pumps, floating solar and solar cold chains in India.

These solar plants—installed for eleven nagarpalikas (municipalities) in the State—would generate approximately 2,835 KW power, saving Rs 2.94 crore in the electricity bills.

The Climate Investment Platform launched by three multilateral bodies in September is now open for business and renewables companies in developing nations across 14 regions including south Asia could qualify for help with clean energy facilities, renewables-related grid improvements and energy efficiency schemes.

Lobby group the National Solar Energy Federation of India has welcomed the move and asked the Ministry of New and Renewable Energy to extend any such measures to existing contracts to help developers meet working capital requirements.

Developers are also expected to drag their heels over project completion during the first half of the year as the safeguarding duty applied to imported Chinese and Malaysian solar products is due to expire at the end of July.

Contracted revenue, minimal volume risk and moderate-to-strong counterparties mitigate cash flow concerns in solar assets.

India, with 750 GW of solar potential, has also one of the highest transmission and distribution losses in the world. So, while there is immense scope in PV deployment, there is a need for greater investment in grid related projects also to help the country best utilise its renewable energy potential, says the latest report by SolarPower Europe and National Solar Energy Federation of India (NSEFI) which also makes recommendations to help accelerate investments in the solar sector.

The programme—co-funded by Swedish Energy Agency and India’s Department of Science & Technology (DST)—aims to develop technologies that can be commercialized after two years. While SEA has committed US$2.6 million over four years for research and innovation collaboration with India, DST will also fund a matching investment of Rs 18 crore to support Indian partners.

With Rs 118.27 crore in the current financial till February 10, Gujarat is way ahead among all states and union territories in getting the central financial support for new and renewable energy generation.