Markets & Policy

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 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.

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.

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.

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 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.

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 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.

NTPC Green Energy Ltd (NGEL) has signed a memorandum of understanding for the blending of green hydrogen in the gas networks of Gujarat State Petroleum Corp. Ltd and green hydrogen mobility by setting up of green hydrogen fuelling stations in Gujarat. It has also signed an MoU with Gujarat Pipavav Port Ltd to develop a green hydrogen ecosystem, including production of green ammonia, for export and domestic market.

Proceeds from the issue of the bonds will be applied to finance the eligible green projects.