BPCL to build 240 MW of solar, wind farms this fiscal
The state-run oil and gas company will build 240 MW of renewable power generation capacity with an investment of INR 1,600 crore this fiscal. The capacity will purportedly supply power for its refineries.
IndiGrid raises $138.84 million debt finance from IFC
International Finance Corp. (IFC) has subscribed to IndiGrid’s listed, non-convertible debentures aggregating to INR 1,140 crore (($138.84 million).
ReNew raises $400 million via green bonds
The developer said the funds raised would go towards refinancing its existing dollar debt and funding various growth initiatives.
Schneider Electric launches construction of a new factory in India
Schneider Electric is investing around INR 140 crore ($17 million) for setting up a new facility in Kolkata, West Bengal. The new facility will grow its vacuum interrupter production capacity and strengthen the power systems vertical.
Serentica Renewables appoints CEO
Serentica Renewables has promoted Akshay Hiranandani, corporate finance lead, to chief executive officer.
PV-powered underground heat exchanger for buildings
Researchers in India have combined PV generation with heat produced by an earth-to-air heat exchanger to provide buildings with space heating and cooling. They say the proposed system could result in an annual energy gain of 8116.7 kWh.
Global solar installations hit 240 GW in 2022
IEA-PVPS has used an improved methodology to determine that newly installed PV capacity in 2022 must be somewhere between the 190 GW calculated by the International Renewable Energy Agency (IRENA) and the 268 GW announced by BloombergNEF. Its new “Snapshot of Global PV Markets 2023” report was built on data from a range of sources, including grid-connected and off-grid figures.
Gensol Engineering revenue soars 144% in fiscal 2022-23
The Ahmedabad-based solar EPC and advisory services provider has recorded a revenue of INR 391.61 crore for the fiscal year ended March 31, 2023, defying the headwinds posed by volatile commodity prices.
Saatvik establishes US subsidiary
The Indian solar manufacturer will sell its made-in-India PV modules in the USA through the newly opened office in Texas. Going forward, it plans to set up an overseas manufacturing facility too.
KP Group and UAE’s Tristar partner on renewable energy projects
KP Group, a Gujarat-based renewable energy developer, has signed an agreement with UAE’s Tristar to jointly identify and execute wind, solar, green hydrogen, and green ammonia projects in multiple regions globally.
