Asia

Oriana Power Ltd has won the contract to build a 20 MW AC solar PV plant at Bharat Coking Coal Ltd’s Dugdha Washery Area in Jharkhand.

The two partners will initially set up a large-sized super hub in Samalkha, New Delhi, with 200 EV charging points. It will have a combination of AC and DC chargers and will support Evera consumers as well as other cab aggregators and individual EV owners.

The Indian carbon credit system, operating under the Clean Development Mechanism (CDM) and the United Nations Framework Convention on Climate Change (UNFCCC), stands ahead in several aspects.

Exide Energy Solutions, which is building a 6 GWh lithium-ion cell manufacturing facility in Karnataka, has sought additional 40 acres of land for expansion to 12 GWh in the state.

RK Vishnoi, chairman and managing director of NHPC, said pumped storage will be the mainstay for NHPC in the near future. The state-owned power producer has already signed MoUs to develop multiple gigawatts of pumped storage projects in Andhra Pradesh, Gujarat, Maharashtra, and Odisha.

Power Finance Corp. (PFC), the largest lender to the Indian power sector, recorded a net profit of INR 11,605 crore in FY 2022-23.

Tata Power Renewable Energy Ltd will develop an additional 9 MW ground-mount solar plant at Tata Motors’ Pantnagar factory in Uttarakhand, taking the facility’s cumulative PV capacity to 16 MWp.

Sunsure will establish a solar power plant to supply electricity to Dabur’s factory in Ghaziabad under a 25-year purchase agreement.

India’s robust economic growth translates to rising demand for energy. This demand provides a substantial market for renewable energy investments, encouraging firms to venture into this sector. However, as the nation marches ahead in RE adoption, it needs to overcome challenges like high capital costs and inadequate grid infrastructure.

The Indian renewable energy developer recorded a net profit of INR 2,983 million ($ 36 million) for the three-month period ended June 30, 2023, compared to a net loss of INR 104 million in the corresponding period last year.