Borosil Renewables raises INR 200 crore though QIP issue
The solar glass manufacturer plans to utilize the funds to more than double its solar glass production capacity from 450 tonnes per day (TPD) to 950 TPD.
Renewables developer Ayana hits $721 million in equity funding with fresh injection
The Indian renewables platform’s promoters have committed additional equity funding of $390 million, taking the total to $721 million. National Investment and Infrastructure Fund (NIIF), accounting for $284 million of the new injection, becomes the majority shareholder now. U.K. government-owned development finance institution CDC Group and UK-India Green Growth Equity Fund (GGEF) have committed $70 million and $36 million, respectively.
Green hydrogen cost could fall more than 50% by 2030
With this, green hydrogen (hydrogen produced using renewable energy) would become cost-competitive with hydrogen from fossil fuels in certain industrial applications such as ammonia production for fertilizers.
32% growth in electricity subsidies shows that public DISCOMs need reforms
A new report looks at the rising dependence of India’s DISCOMs on electricity subsidies, despite concerted bailout efforts by the central government. It assesses various states’ performance in reining in DISCOMs’ financial losses and enhancing their overall efficiency over the last five years. Building on these findings, the study suggests reforms in the distribution and design of subsidies to increase power companies’ revenues as consumption surges.
Uttarakhand rolls out electric bus service
The hill state in northern India has added the electric bus footprint with the service flagged off in the capital city Dehradun. The state government plans to start 30 such eco-friendly electric buses in this financial year. The buses, supplied by Olectra Greentech, will run in Dehradun, Mussoorie, Rishikesh and Haridwar.
Saft rebrands its products made in India
The rebranding to Saft Urja—from Amco Saft—reflects the battery manufacturer’s strategic approach to better leverage the Indian market. The company has also announced plans to increase its production capacity at Bangalore factory by 20%, enhance the workforce at its design office and launch new industrial battery products for India region.
Fitch upgrades IREDA to ‘BBB-’ on parental support
The rating considers the central government’s direct ownership and very strong level of control, the company’s important policy role as a financier to encourage renewable energy investments in India, and its status as a nodal agency to carry out the government’s initiatives for the sector.
The case for distributed solar with storage
Gopal Lal Somani, a former director at the Jaipur-based Rajasthan Renewable Energy Corporation Ltd (RRECL), says distributed solar systems with storage are the key to achieving India’s mission of supplying clean energy at an affordable cost to all. In this article, he dwells on the benefits and techno-commercial feasibility of these systems for the nation.
The world has 53 million hectares of abandoned cropland suitable for solar PV deployment
Researchers in Norway have mapped all cropland areas that were abandoned between 1992 and 2015 and found that the vast majority is suitable for PV and bioenergy deployment. Around 30% is located in Asia, followed by the Americas, with a 28% share, and Africa, with a percentage of 22%. Europe and Oceania had shares of 20% and 5%, respectively.
India’s 2030 electric vehicle ambition could create INR 85,900-crore battery opportunity
A new report says that the nation would require an estimated annual battery capacity of 158 GWh to realize its 2030 electric vehicle (EV) adoption target. Meeting this potential demand would require investments exceeding INR 85,900 crore (US$ 12.3 billion) in case battery manufacturing is 100% indigenized.
