Markets & Policy

GP Eco Solar will use the funds raised through the initial public offering (IPO) on NSE Emerge to fuel its growth in the solar sector. It will allocate around INR 12.45 crore for working capital and expansion, and invest INR 7.6 crore in subsidiary Invergy India for a new solar inverter assembly facility in Noida.

US-based Enfinity Global has secured $135 million in long-term financing to advance the development of its 1.2 GW of solar and wind projects in India. The financing is being provided by Canada Pension Plan Investment Board

The Indian Energy Exchange (IEX) traded 75.39 lac renewable energy certificates (RECs) in FY 2024, equivalent  to 7.54 billion units, registering a 26.4% increase year-on-year.

Adani Energy Solutions Ltd (AESL) has acquired Essar’s operational Mahan-Sipat transmission assets for an enterprise value of INR 1,900 crore. This acquisition will add 673 ckt km, 400 kV inter-state transmission line, taking AESL’s cumulative network to more than 21,000 ckt km.

While the first quarter of 2024 has shown a significant and potentially transformative rise in climate-tech funding, the sustainability of this growth remains uncertain.

Societe Generale will provide up to $1 billion of debt finance and advisory solutions, over the next three years, to support the development of ReNew’s energy transition projects.

Manufacturers now have until May 31 to submit bids for setting up electrolyzer manufacturing capacities in India under the second round of the government’s Strategic Interventions for Green Hydrogen Transition (SIGHT) program.

India Ratings and Research expects India to maintain pace of renewables capacity addition owing to a significant drop in equipment prices, continued policy support, availability of liquidity, and investment plans of some of the large corporate players.

Coal’s share (including lignite) in India’s total installed power capacity dropped below 50% in the first quarter of 2024. This is well ahead of the Government’s target to establish 50% cumulative power generation capacity from non-fossil fuel-based sources by 2030.

Hydrogen, often lauded as a beacon of hope in the quest for a low-carbon future, stands at a pivotal crossroads. As the world grapples with the dual challenges of escalating energy demands and climate change, hydrogen presents a unique opportunity to harmonize industrial development with environmental stewardship. However, its path is fraught with complexities and obstacles that require careful navigation.