Cabinet approves viability gap funding scheme for battery storage development
Through the viability gap funding (VGF) scheme, the Indian government targets the development of 4 GWh of battery energy storage systems (BESS) by 2030-31. The selection of BESS developers for VGF grants will be carried out through a transparent, competitive bidding process.
Jakson Green hits INR 5,000 crore renewable order book within a year
Jakson Green has won utility-scale renewable EPC projects in West African, the Gulf Cooperation Council (GCC), and Commonwealth of Independent States (CIS) countries, in addition to significant solar contracts in Madhya Pradesh and Gujarat.
REC raises $1.15 billion in syndicated term loans in August
The state-owned power finance company will utilize the proceeds to fund power, infrastructure, and logistics sector projects.
Government considering viability gap funding, ALMM mandate for battery storage projects
The Indian government is considering financial incentives such as viability gap funding and green finance to encourage the adoption of energy storage systems in the country. It may also issue an Approved List of Models and Manufacturers (ALMM) mandate for battery storage systems for power sector applications.
The Hydrogen Stream: Gulf nations moving forward with tech cooperation
Acwa Power and Eni have signed a hydrogen development deal, while AFC Energy has signed an agreement with Tamgo to sell hydrogen generators.
IREDA, IIFCL team up to finance renewable energy projects
Indian Renewable Energy Development Agency Ltd (IREDA) and India Infrastructure Finance Co. Ltd (IIFCL) will engage in co-lending and loan syndication for all categories of renewable energy projects.
Global flow battery market to grow at 22.8% annually
The global flow battery market will expand from $289 million in 2023 to $805 million by 2028, driven by increasing investments in renewable energy and flow batteries’ advantages over conventional products.
Ghaziabad to be developed as Uttar Pradesh’s next solar city after Ayodhya
The city will meet 10% of its electricity requirements from solar power in four years.
Andhra Pradesh requires $10-15 billion to achieve green hydrogen capacity of 500 ktpa by 2030
Andhra Pradesh requires an estimated $10-15 billion to achieve 500 ktpa green hydrogen capacity by 2030. Around 70% of this investment will be needed to create renewable energy infrastructure such as solar and wind power generation plants, with the balance for electrolyzer capacity additions.
Bila Solar to make lightweight solar modules in US
Bila Solar – a Singapore-based developer of glassless, frameless PV modules – has announced plans to invest about $35 million to renovate a factory in Indianapolis, Indiana.
