Markets & Policy

Advait Infratech will invest in the manufacturing and assembly of fuel cells and electrolyzers in Gujarat. Waaree will set up a green hydrogen/green ammonia production facility along with hybrid (solar, wind) renewable energy generation.

Torrent Power will invest INR 47,350 crore (around $5.7 billion) in green hydrogen and green ammonia production, solar and hybrid power generation, and power distribution in Gujarat.

The Indian state of Uttar Pradesh has solar and other clean energy projects with a total investment outlay of INR 1 lakh crore ($12 billion) in the pipeline.

Vikram V, vice president & co-group head-corporate ratings, ICRA Ltd, speaks to pv magazine about falling solar cell and module prices, its impact on the Indian pv manufacturers, and way forward.

The number of PV installations around the world grew by an annual average of 28% between 2019 and 2023, including a 56% jump from 2022 to 2023, according to Wood Mackenzie. Growth is not expected from 2024 to 2028, however.

Adani Green Energy Ltd has sold half the stake in its 1,050 MW of renewable energy projects to TotalEnergies, raising $300 million to support the development of these assets. The projects are now owned by a joint venture between the two companies.

Adani Green Energy Ltd stated the funds will be utilized for deleveraging and accelerated capital expenditure to achieve 45 GW of renewable energy capacity by 2030.

The Indian government has demonstrated a robust commitment to advancing solar energy by implementing various strategic initiatives.

A new report by IEEFA and JMK Research says energy storage systems are poised to attract the highest investment of all emerging renewable energy sectors this decade, concurrent with the increasing penetration of renewable energy in the nation’s electricity grid.

India’s solar PV module exports in the April-October period of the current fiscal 2023-24 have surpassed module exports in the twelve months of the last fiscal.