IH2A proposes $5 billion hydrogen transition fund
The India Hydrogen Alliance (IH2A) has proposed a $5 billion fund to support the development of large-scale hydrogen projects and H2 hubs, supply chain, sectoral H2 transition, national skilling, and H2 infrastructure in India.
Solar corporate funding hits decade-long high in 2023 globally
PV funding activity increased by 42% year-on-year in 2023, driven by strong growth in private market financing and debt financing, despite a decrease in the total number of deals, according to Mercom Capital Group.
Adani to build 1.35 GW of pumped storage, 100 MW data centre powered by renewables in Telangana
Adani Green Energy will set up 1.35 GW of pump storage projects with an investment of over INR 5,000 crore ($601.48 million) in the Indian state of Telangana. Adani Enterprises Ltd (AEL) will also invest over INR 5,000 crore in a 100 MW data centre, powered by renewable energy.
Torrent Power commits $5.7 billion investment in Gujarat
Torrent Power will develop 3,450 MW of solar power projects, 1,045 MW of hybrid power projects, and the solar park infrastructure for a 7 GW solar power project in Gujarat. It will also set up a 100 ktpa green hydrogen/green ammonia production facility in the state.
Red Sea tensions set to drive up solar module prices
The costs of transporting a container from China to Rotterdam have already almost tripled due to ongoing tensions in the Red Sea and the Gulf of Aden. Houthi militants have been attacking merchant ships there for weeks, preventing them from entering the Red Sea and transiting through the Suez Canal.
GIFT City advances on platform for hydrogen trading
The Gujarat International Finance Tec-City (GIFT City) has partnered with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corp. (GSPC) to establish a global hydrogen trading mechanism.
Vertical integration at scale key to reducing green hydrogen cost
Gautam Adani, chairman of Adani Group, says vertical integration at scale promises the greatest acceleration towards reducing the cost of green hydrogen from the current $3-5 per kilogram (kg) to the $1/kg mark.
Reliance to sell REC’s polysilicon manufacturing arm for $22 million
Reliance Industries Ltd (RIL) is selling REC Solar Holdings’ kerf-based polysilicon manufacturing arm REC Solar Norway to Elkem ASA, a silicon-based material provider. Upon completion of the sale, RIL will continue to retain the technology and intellectual property rights of kerf-based polysilicon.
Reliance, Jindal, Adani among winners of production-linked incentives for electrolyzer manufacturing
Eight companies emerged as winners in Solar Energy Corp. of India’s 1.5 GW electrolyzer manufacturing tender under the production-linked incentives scheme.
Avaada to develop 6 GW of hybrid wind-solar projects in Gujarat
Avaada Group has signed an agreement with the government of Gujarat to develop 6 GW of hybrid wind-solar projects with an investment of INR 40,000 crore.
