Norway

The Bengaluru-based solar and wind energy developer has signed a Memorandum of Understanding with Greenstat Hydrogen India to collaborate on developing projects for green hydrogen production in India.

Mumbai-based Reliance Industries and REC Solar have declined to comment on rumors that the Indian company might acquire the Norwegian PV module maker, in a potential transaction that Indian media outlets have already valued at $1 billion to $1.2 billion.

The acquisition is in line with the Hyderabad-based corporate solar developer’s plan to ramp up. For Norwegian developer Statkraft, the selloff is part of its strategic plan to exit the distributed solar segment in India and focus on developing large-scale projects.

The Norwegian renewables business has acquired a 50% stake in Acme’s 900 MW solar project in Rajasthan. The project will benefit from a 25-year PPA with the Solar Energy Corporation of India.

India Energy Storage Alliance (IESA) and Greenstat Hydrogen India will collaborate on establishing a Norwegian Centre of Excellence on Hydrogen in India and supporting the development of green hydrogen technologies.

The Energy and Resources Institute (TERI) has signed a Memorandum of Understanding (MoU) with the India arm of Norwegian energy company Greenstat to set up a Centre of Excellence for hydrogen in India and accelerate deployment of hydrogen technologies in the country.

The Italian utility, fresh from securing its first 300 MW of PV generation capacity in the recent, record-setting tender held by SECI, has teamed up with the state-owned Norwegian Investment Fund to commit to further clean energy facilities in India.

The impressive progress made by offshore wind arrays may be attracting a new group of PV developers looking to leave the constraints of the roof and free field behind. And while saltwater, wind and waves are no friend of PV, progress is being made in proving the potential applications.