Markets & Policy

Europe’s solar installation levels are exceeding expectations and are on track to grow 30% this year from 2022, according to Rystad Energy.

Indian developer Adani Green Energy Ltd reported a 53.7% year-over-year increase in consolidated total income to INR 2,589 crore ($311 million) in the second quarter (July-Sept) of FY 2024. Net profit (profit after tax) soared 150% YoY to INR 371 crore.

Gentari and Greenko founders-owned AM Green will jointly invest in the green ammonia platform, AMG Ammonia, to produce and export green ammonia from India. Both partners bring complementary capabilities across the green hydrogen value chain, including renewable energy, electrolyzers, and ammonia production and marketing capabilities. GIC will also invest in AMG Ammonia.

SJVN Green Energy Ltd will pilot a 2 MW floating solar project based on Norwegian firm Ocean Sun’s membrane-based floater technology. Once this pilot project succeeds, the two companies will collaborate to deploy this technology on a large scale in the southern part of India. 

Indian solar module manufacturers will have significant opportunities until July 2024 to sell their products in the USA market. However, their exports to the USA may start stagnating from 2025 and declining from 2027 onwards as the USA develops domestic capacities under its Inflation Reduction Act (IRA), according to a new report by IEEFA and JMK Research.

The Solar Power Developers Association (SPDA) is now Sustainable Projects Developers Association (SPDA), representing solution providers across solar, wind, hybrid, battery energy storage systems, green hydrogen and green ammonia sectors.  

The European Solar Manufacturing Council says that the European Commission should ban all products made with forced labor to ensure the future of the European PV manufacturing sector.

Waaree Renewable Technologies has reported a revenue of INR 150.06 crore (around $18 million) and a net profit (profit after tax) of INR 18.29 crore for the quarter ending Sept. 30.

The Israeli planning regulator says that some storage facilities will not need permit approvals over the next 18 months.

NTPC’s R&D center NETRA and Engineers India Ltd (EIL) will collaborate in carbon capture utilization and storage (CCUS), green hydrogen, and green ammonia.