Budget 2023-24 reaffirms government’s focus on domestic solar and battery manufacturing, green hydrogen
The budget signifies the government’s intent to drive domestic manufacturing of lithium battery cells as it waives customs duty on the import of machinery required for manufacturing these cells. It also continues with nil customs duty on critical inputs for solar manufacturing. The budget also aims to support large-scale battery storage projects through viability gap funding.
Vedanta approves INR 444 crore equity investment in 691 MW of ‘captive’ renewable energy projects
The Mumbai-headquartered natural resources company will invest INR 444 crore ($54.23 million) in 691 MW of renewable energy projects to power its aluminum, copper and oil & gas operations across India. It will implement these captive projects through special-purpose vehicles formed with Serentica Renewables.
Rays Power Infra to build 1.8 GW solar park in Rajasthan
Rays Power Infra has signed an agreement with the Rajasthan government to build a 1.8 GW solar park in the state with an estimated investment of INR 9,140 crore.
India surpassed one million EV sales in 2022
Electric vehicles (EV) sales in India soared 212% year-on-year to surpass one million mark in 2022.
THDC, RRECL form JV to build 10 GW of renewable energy projects in Rajasthan
State-run hydropower producer THDC has formed a 74:26 joint venture with Rajasthan Renewable Energy Corp. Ltd to develop 10 GW of renewable energy projects in Rajasthan. The JV partners also plan floating solar and pumped hydro storage projects in the state.
Borosil expands solar glass capacity in India to 1,000 tpd
Gujarat-based Borosil Renewables has started trial production from its third solar glass furnace, raising its capacity in India to 1,000 tons per day (tpd). Its cumulative solar glass capacity has reached 1,300 tpd, which includes 300 tpd in Germany added through the acquisition of Interfloat Group.
Abu Dhabi’s International Holding Company to invest $400 million in Adani Enterprises FPO
Abu Dhabi-based International Holding Company (IHC) has subscribed to 16% of Adani Enterprises $2.5 billion Further Public Offering. This is IHC’s second investment deal completed with Adani Group after last year’s $2 billion investment in Adani Green Energy, Adani Transmission, and Adani Enterprises.
US-based renewable power producer announces 100 MW hybrid wind-solar project in India
The 100 MW co-located, wind-solar hybrid renewable power project in Maharashtra will supply clean power to commercial and industrial (C&I) customers in the state.
Union Budget 2023: Mainstreaming flexible and resilient grids
While the current policy regime supports the adoption of flexible resources like batteries, grid flexibility and resilience require more focus and a range of calibrated efforts, including due acknowledgment as a sector priority and robust planning at the central and state level. The upcoming union budget provides an opportunity for the government to develop flexible and resilient grids.
Adani Group rebuts US-based short-seller’s report
The Indian conglomerate has issued a 413-page response to the allegations made by the US-based short seller Hindenburg.
