Uttar Pradesh targets 22 GW of solar in next five years
The state government has announced its Solar Policy 2022, which places a special focus on the setting up of solar parks with storage systems. The policy also provides big incentives for the adotion of rooftop solar systems and the solarization of tubewells for agriculture.
ReNew Power to build $8 billion green hydrogen plant in Egypt
Developer ReNew Power has signed an agreement with the Egyptian Government to establish a green hydrogen plant in the Suez Canal Economic Zone. The $8 billion project will produce 220,000 tons of green hydrogen per year.
Union Bank of India, Tata Power partner on low-cost finance for MSME rooftop solar
Union Bank of India will provide a low-cost loan with nil or minimum collateral to finance MSME rooftop PV projects executed by Tata Power Solar.
BCD pass-through to benefit up to 6 GW of solar projects
Tariffs will rise by 50-70 paise/kWh for up to 6 GW of solar projects as developers are allowed to pass on the impact of basic customs duty on cells and modules under ‘change-in-law’.
SunSource doubles its solar energy target to 1 GW by 2027
The distributed solar solutions provider will be supported by a strengthened local management team to meet its installed PV target of 1 GW.
Ernst & Young again ranks India as world’s most attractive solar market
India is the top market for solar investment, according to the latest edition of Ernst & Young’s renewables attractiveness index. Spain, Germany and the United States are the top three markets for corporate power purchase agreements (PPAs).
Waaree Renewable posts 864% Y-o-Y growth in H1 net profit
The company reported a net profit after tax of INR 18.08 crore ($2.23 million) in the half year ended September 30, 2022, an 864% growth over INR 1.88 crore recorded during the same period in the previous year.
HEG unveils plans to build $247 million Li-ion anode plant
The LNJ Bhilwara group company is venturing into the production of graphite anode for lithium-ion batteries. It expects the first part capacity of its Li-ion anode plant to become operational by 2025 with an investment of INR 1,000 crore ($124 million).
India terminates solar cell anti-dumping probe
India’s Directorate General of Trade Remedies, an entity under the Ministry of Commerce and Industry, has terminated an anti-dumping probe into solar cells coming from China, Thailand, and Vietnam as domestic manufacturers withdraw the application.
NHPC records its highest-ever half-yearly net profit
The state-owned hydropower producer, which has also diversified into the field of solar and wind power, has reported a net profit of INR 2,483 crore ($307 million) for the half-year ended Sept 30, 2022–a 12% jump year-on-year.
