Markets & Policy

The hydrogen economy in India is expected to undergo vast development in the coming years owing to government support and industry funding.

In May 2024, high-efficiency panels, predominantly glass-glass modules equipped with tunnel oxide passivated contact (TOPCon) cells began to converge on price with mainstream offerings, writes Martin Schachinger, of pvXchange. Production volumes for these negatively-doped, “n-type” cells and modules have been ramped up in China while the increasingly restrictive customs situation in the United States may already be having an impact. For the European market, ever-lower prices for the latest module technology would suggest that demand would continue to rise were it not for a number of disruptive factors.

Amara Raja Energy & Mobility Ltd has secured the technology license from China’s Gotion High-Tech to manufacture lithium ferro phosphate (LFP) battery cells in both cylindrical and prismatic form factors.

Brookfield Asset Management targets to more than triple renewable energy assets under management in India to over $10 billion within the next three to four years.

Amara Raja Energy & Mobility has increased its stake in EV battery specialist InoBat to 9.32% with a further investment of EUR 20 million into the company.

Next decade will see Adani Group invest more than $100 billion in the energy transition space and further expand its integrated renewable energy value chain—chairman Gautam Adani at CRISIL Ratings Annual Infrastructure Summit 2024.

International Finance Corp. (IFC) has committed $105 million to Brookfield Asset Management’s 550 MWp solar power project in the Bikaner district of Rajasthan.

Complete dependence on fossil fuel, which is a very volatile segment, can leave a country vulnerable to price fluctuations and geopolitical disputes. This is turn has a huge impact on the country’s economy as well. A prime example of which, can be seen with the current Ukraine- Russia crisis’s impact on the European countries rise in gas prices and subsequent economic turbulence.

Renewable capacity addition is expected to remain at around 15-17 GW annually, owing to significant reduction in the module prices over the past 12 months and availability of liquidity.

India has already seen several success stories where innovative financing has empowered MSMEs in the renewable energy sector. For instance, the Indian Renewable Energy Development Agency (IREDA) has launched schemes specifically designed for MSMEs. These schemes offer concessional loans and financial assistance, making it easier for MSMEs to undertake renewable energy projects.