ACME Solar raises $334 million via offshore green bonds
The Indian developer has a cumulative 4.8 GWp solar portfolio, including 2.2 GWp operational and another 2.6 GWp under-construction projects. It will use the proceeds from the green bonds to finance twelve of its solar assets in India.
CATL claims to have made sodium-ion batteries a commercial reality
The manufacturer has launched sodium-ion products online. Production has begun and will be easily scalable, according to the CATL chairman. Researchers have been keen to make the technology work as it offers a cheaper, more environmentally friendly alternative to lithium-ion products.
IFC makes $126 million equity investment in India’s Federal Bank
The equity investment is expected to see Federal Bank increase the financing for green projects including energy efficiency, renewable energy, climate-smart agriculture, green buildings, and waste management.
Financial feasibility of behind-the-meter solar-plus-storage in India
A new report says solar-plus-energy storage will become an attractive investment option for commercial consumers in India as early as 2023 for electricity bill reduction. For high-tariff paying residential consumers, the system will reach grid parity post-2027. The report findings are based on the levelized cost analysis of solar-plus-energy storage systems for consumers in the Indian State of Tamil Nadu.
Electric vehicles account for 1% of overall vehicles annually sold in India
The government provides subsidy support under the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) scheme and reduced taxation rates to promote EV uptake in India. Purchase of 3,61,000 EVs with incentives cumulating to about INR 600 crore has been supported to date under the FAME Scheme.
Solar manufacturers warn of 12-18 months disruption for standalone products
Potential price rises of 14% for the solar home systems that are driving access to electricity in the world’s under-served regions could signal further arrested progress towards the UN goal of universal access by 2030.
Prioritizing efficient plants in coal power dispatch could save INR 9,000 crore annually
A new report proposes a scenario that prioritizes efficiency over variable costs in India’s coal power dispatch mechanism. It goes on to estimate the efficiency improvements and cost savings achieved in this scenario.
Revisiting the net metering cap for rooftop solar
The Ministry of Power has issued a draft amendment to Electricity (Rights of Consumers) Rules, 2020, which allows net metering for rooftop solar systems of loads up to 500 kW or up to the sanctioned load, whichever is lower and net billing (gross metering) or net feed-in for above 500 kW.
Fourth Partner Energy acquires 8.9 MW solar portfolio from Statkraft
The acquisition is in line with the Hyderabad-based corporate solar developer’s plan to ramp up. For Norwegian developer Statkraft, the selloff is part of its strategic plan to exit the distributed solar segment in India and focus on developing large-scale projects.
India has reached 42.3 GW of grid-interactive solar
India has installed 42.3 GW of cumulative grid-connected solar capacity, with additions led by Karnataka (7,409 MW), Rajasthan (6,581 MW), and Gujarat (5,132 MW).
