Finance

Apart from thrust on energy efficiency and clean energy, the new policy will focus on Make in India for cells used in electric vehicle batteries and measures for demand creation and incentivizing investments.

Clean energy investment across 104 emerging markets fell sharply by $36 billion in year 2018 from the previous year, even as their coal burn surged approximately 500 terawatt hours to a record high of 6.9 thousand terawatt-hours. Though the decline in clean energy investments was driven largely by China, inflows to India and Brazil also slipped by $2.4 billion and $2.7 billion, respectively. India, however, emerged as the market with greatest renewables potential.

December 5 is the last date to submit proposals for the joint research program on advanced materials for next-generation solar energy utilization and energy storage that will sponsor around 10 projects. The maximum funding available for all research projects approved is Rs40 million for the Indian side and 4,000,000 NIS for the Israeli side, for a period of two years.

The technology brings environmental, economic and social benefits, says the senior VP of Ciel et Terre’s Indian business. However, the nation’s obsession with price dictating business decisions, he adds, ignores the truism that ‘in the long run, cheap products lead to more cost’.

The order enabling payment of a rupee for every kilowatt-hour generated by off-grid PV systems has been extended until October 2021 because of anticipated delays in the state electricity board hitting its renewable purchase obligation.

Developers will be spared interstate transmission system charges if their projects are secured through public capacity auctions held to enable electricity distribution companies to achieve their renewable purchase obligations, and provided the facilities are commissioned before 2023.

The Beijing-headquartered Asian Infrastructure Investment Bank—which recently approved a US$75 million loan to Tata Cleantech Capital—sees private-sector investment flowing into the nation’s solar and wind projects next month onwards.

India may fall around 7 GW short of its ‘60 GW by 2022’ utility-scale solar target if the power purchase agreement revision proposal by the state government is implemented.

The US-based non-profit organization will use the amount to install solar panels in three schools of Maharashtra and also fund 300 solar lights for the students. Its partner in these projects, Think Sharp Foundation, will also use the power generated for digital learning tools and libraries.

The clean tech company will use the amount to fund its expansion as it plans to reach 5 GW of solar capacity in the next two or three years.