Solar manufacturers downplay impact of US countervailing duties
Leading solar manufacturers say proposed US countervailing duties on Indian solar cells and modules are unlikely to materially impact their businesses.
India’s transition to green steel is expected to be gradual, driven by renewables in the near term: ICRA
ICRA expects the Indian steel industry’s decarbonization to be gradual, with near-term emission reductions driven mainly by higher adoption of renewable energy and improvements in operational efficiency, as high costs and technology constraints limit faster decarbonization.
Avaada Electro credit ratings reaffirmed by ICRA
ICRA has reaffirmed its credit ratings for Avaada Electro Ltd (AEL) and assigned ratings for enhanced borrowing limits, factoring in the company’s rapid scale-up in solar manufacturing and continued support from its parent, Avaada Ventures.
Storage adoption critical for grid integration of India’s growing renewable energy capacity: ICRA
The new ICRA report states that enhancing storage capacity and strengthening the grid—both within states and across inter-state networks—in a time-bound manner remains extremely critical as the share of renewables in the generation mix rises.
Solar module overcapacity to spur consolidation among smaller players: ICRA
ICRA says that India’s solar manufacturing segment is likely to face an overcapacity scenario, with annual solar capacity additions expected at 45–50 GW (DC) against an annual solar module production capacity of 60–65 GW — leading to consolidation among smaller or pure-play module manufacturers.
ACME Solar Holdings assigned ‘AA-/Stable’ rating by ICRA
ICRA Ltd has assigned ‘AA-’ credit rating with ‘Stable’ outlook on ACME Solar Holdings’ long-term non-fund based bank facilities. The rating reflects ACME Solar’s diversified portfolio across multiple locations and offtakers (primarily central), revenue visibility from long-term power purchase agreements (PPAs), optimal generation performance and comfortable debt coverage metrics.
India installed 17.5 GW solar in first five months of this fiscal: ICRA report
India installed 17.5 GW of solar and 2.6 GW of wind power capacity in the first five months of FY2026 (April–August 2025), according to a new report by ICRA.
ACME Solar’s 250 MW renewable energy project secures “ICRA AA-/Stable” rating upgrade
The rating applies to ACME Aklera Power Technology’s 250 MW renewable energy capacity in Rajasthan for its INR 1,072 crore term loan facility from Bank of America, Standard Chartered Bank and India Infradebt Limited.
India’s power demand to grow 6.0-6.5% over next five years, driven by EVs, data centres and green hydrogen: ICRA
Electric vehicles, data centres and green hydrogen are expected to contribute to 20-25% of the incremental power demand over the next five-year period from FY2026 to FY2030.
Adani Green Energy refinances $1.06 billion construction facility
Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, announced that it has refinanced its maiden construction facility with outstanding of $1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan.
