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UPEX 2026

Bondada Engineering Forms New SPV For MAHAGENCO Renewable Energy Project

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Bondada Engineering Limited has established a new subsidiary, BONDADA DINESH SPV PRIVATE LIMITED, as a Special Purpose Vehicle to oversee a project from Maharashtra State Power Generation Company. Holding a 51 percent stake, the SPV will focus on renewable energy, including solar operations and energy storage. The move aligns with Bondada's strategy to enhance efficiency in the energy sector.

AMERICAS

US Utility-Scale Solar Developers Rush To Safe Harbor Massive Capacity Ahead Of Internal Revenue Service (IRS) And Policy Deadlines

The US utility-scale solar sector experienced a surge in "safe harboring" activities over 18 months, fueled by tax incentives from the Inflation Reduction Act and Trump’s One Big Beautiful Bill Act. Developers are expected to secure substantial solar capacity by mid-2026, facing challenges related to IRS rules and other regulatory pressures. As tax incentives decline, only well-capitalized developers may thrive, leading to market consolidation.

Barro Alto Solar Complex Expands Its Capacity And Strengthens Renewable Generation In Brazil’s Electricity Sector

The Barro Alto Solar Complex in Vila Propício, Brazil, recently began operations, enhancing the country's solar energy contributions. Comprising seven plants with a total capacity of 350 MW, it generated over 16,000 jobs and aligns with Brazil's renewable energy goals under the New Growth Acceleration Program, ensuring environmental compliance and sustainability.

Morro do Chapéu Project Reaches Key Milestone As 500 kV Medeiros Neto II–João Neiva 2 Line Begins Operation

The Morro do Chapéu Project has successfully launched the 500 kV Medeiros Neto II - João Neiva 2 C1 Transmission Line, enhancing Brazil's National Interconnected System and supporting renewable energy growth. This 283 km addition, part of a R$ 2 billion investment, improves electricity reliability and facilitates integration of new wind and solar power plants.

Solar Stewardship Initiative and Initiative for Responsible Mining Assurance Sign MoU to Strengthen Responsible Mineral Sourcing in Solar Sector

The Solar Stewardship Initiative (SSI) and the Initiative for Responsible Mining Assurance (IRMA) signed a Memorandum of Understanding to enhance responsible mineral sourcing and protect human rights in the solar value chain. Their collaboration focuses on sustainability, improving traceability, and developing accountability frameworks to support ethical practices in mining and solar industries.
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INDIA AND SOUTH ASIA

Top Stories Of The Day: Cosmic PV Files ₹640 Cr IPO; Neuron Launches BESS Facility and More…

Cosmic PV Power has filed for a ₹640 crore IPO for expansion and working capital. Neuron Energy launches a ₹100 crore BESS plant in Maharashtra. India strengthens carbon capture projects and regional power ties. The Ministry of Power reports rising renewable generation and NTPC achieves record capacity additions, underscoring clean energy growth.

Solarworld Energy Solutions Limited Secures 200 MW Solar BOS Contract and BESS EPC Orders from NTPC Renewable Energy Ltd

Solarworld Energy Solutions Limited has secured a 200 MW AC balance-of-system contract from NTPC Renewable Energy Ltd for a solar PV project in Bikaner, Rajasthan, valued at around ₹267.53 crore. Additionally, it obtained two Battery Energy Storage System contracts for NTPC thermal stations, totaling approximately ₹422.48 crore.

INOX Air Products Private Limited Commissions UHP Liquid Oxygen Plant in Tamil Nadu to Boost Solar and Semiconductor Manufacturing

INOX Air Products has launched a UHP Liquid Oxygen plant in Hosur, India, producing 6N grade liquid oxygen at 17 TPD. This facility enhances domestic capabilities for solar and semiconductor manufacturing, reducing reliance on imports. It ensures efficient access to critical resources, supporting India’s technological self-reliance and clean energy goals.

Surat-Based Cosmic PV Power Submits DRHP to SEBI for ₹640 Crore IPO

Cosmic PV Power Limited has submitted its Draft Red Herring Prospectus to SEBI, aiming to raise ₹640 crore through an initial public offering. This amount includes a fresh share issue of ₹540 crore and an offer for sale of ₹100 crore. Funds will support expansion and working capital as the company grows in India’s solar market.

EUROPE

Sonaura To Supply Albéa’s Scheßlitz Factory With Long-Term Solar Power Through New Private-Wire PPA

Sonaura has signed a long-term Power Purchase Agreement to supply solar energy directly to Albéa, enhancing the company's energy security and stability against market price fluctuations. The 4.2MWp solar project, built near Albéa's factory in Germany, underscores Sonaura's commitment to renewable energy for industrial clients and responds to increasing energy uncertainties.

Solar Stewardship Initiative and Initiative for Responsible Mining Assurance Sign MoU to Strengthen Responsible Mineral Sourcing in Solar Sector

The Solar Stewardship Initiative (SSI) and the Initiative for Responsible Mining Assurance (IRMA) signed a Memorandum of Understanding to enhance responsible mineral sourcing and protect human rights in the solar value chain. Their collaboration focuses on sustainability, improving traceability, and developing accountability frameworks to support ethical practices in mining and solar industries.

ScottishPower Partners With Fort, Seafield and Wallacetown Community Association To Install Solar Panels For A Long-Term Community Fund

In Wallacetown, ScottishPower and local associations have implemented a community-owned solar panel initiative to generate clean energy and support residents financially. Over 25 years, this project will generate an estimated £1 million, enhancing local services and tackling fuel poverty, while empowering the community toward sustainable development.

AFRICA

Energy-Powered Digital Infrastructure: Tetracore, Huawei and Inspirive to Develop $400 Million Grid-Independent Tier III Data Centre in Nigeria

Tetracore Energy Group has partnered with Huawei and Inspirive Technologies to build a $400 million Tier III data center at its Ogun State Energy Park. The 20 MW facility will address Nigeria's energy challenges and support digital infrastructure growth. Completion is anticipated within 10 to 12 months, enhancing data sovereignty and reliability.

Mulilo Secures Commercial Close for 76 MW BESS and 337 MW Solar PV Projects, Strengthening South Africa’s Grid and Clean Energy Pipeline

Mulilo has reached commercial close on two major renewable energy projects in South Africa's Free State Province, marking a pivotal step in the country's clean energy transition. The projects include a 76 MW battery storage facility and a 337 MW solar photovoltaic plant, enhancing grid stability and supporting local economic development while ensuring cost-competitive clean electricity generation.

Seriti Green Invests R25 Billion To Transform Mpumalanga Into Renewable Energy Hub In South Africa

Seriti Green announced a R25 billion investment in renewable energy projects in Mpumalanga, aiming to transition from a coal-dependent economy. The Ummbila Emoyeni project will create the largest hybrid renewable energy cluster, generating over 900 MW. This initiative creates jobs, strengthens infrastructure, and aligns with South Africa's Just Energy Transition plan.

Cape Town Launches 500 MW Power Tender To Cut Costs And Boost Energy Independence

The City of Cape Town has launched a tender to procure 500 MW of electricity from independent traders, becoming South Africa's first municipality to do so on this scale. This initiative aims to reduce reliance on Eskom, cut costs for consumers, and promote cleaner energy sources. Bids are due by mid-May 2026.

THE MIDDLE EAST

DEWA Approves AED3.1 Billion Dividend Amid Rising Power Demand and Clean Energy Expansion

Dubai Electricity and Water Authority (DEWA) has received approval for a AED3.1 billion dividend for H2 2025, reflecting its strong financial performance. In 2025, DEWA reported a 6.02% revenue increase to AED32.84 billion and a net profit surge of 25.17% to AED9.06 billion, driven by rising demand and investments in renewable energy.

TotalEnergies, Masdar Sign $2.2 Billion JV to Expand Renewable Portfolio Across Asia

TotalEnergies and Masdar have formed a $2.2 billion joint venture to expand onshore renewable energy projects in Asia, covering nine countries. This partnership aims to develop 3 GW of operational assets and 6 GW in advanced stages by 2030, leveraging both companies' expertise to meet rising electricity demand.

Abu Dhabi Department of Energy Rolls Out Rooftop Solar Policy for Self-Consumption and Storage

Abu Dhabi has launched a solar self-supply policy aimed at enhancing energy efficiency and encouraging renewable energy adoption. Announced on February 5, 2026, it allows consumers to generate their own electricity using solar systems. Initially targeting the agricultural sector, it aims to expand to other consumer segments, promoting sustainability and cost savings.

EWEC Receives Four Bids for 3.3 GW Al Nouf 1 Power Project in Abu Dhabi

The Emirates Water and Electricity Company (EWEC) received four proposals for the Al Nouf 1 Independent Power Producer project, poised to become UAE’s largest carbon-capture-ready CCGT plant with a capacity of 3.3 GW. The project aims to enhance local energy infrastructure and supports sustainability goals, targeting commercial operations by 2029.

SOUTH EAST ASIA

Sunview Consortium Secures RM1.96 Billion Contract for 595 MW Floating Solar Project in Malaysia

Sunview Group Berhad and Cypark Renewable Energy Sdn. Bhd. have received a Letter of Acceptance for a 595 MWac floating solar project in Malaysia, valued at RM1.962 billion. The consortium, CRE-Sunview, will handle the EPCC and aims for project completion by September 2028, enhancing Malaysia's renewable energy landscape.

Vietnam Targets 50% Rooftop Solar Adoption By 2030 To Boost Clean Energy Transition

The Vietnamese government aims to promote clean energy by encouraging rooftop solar use, targeting 50 percent adoption in office and residential buildings by 2030. This initiative seeks to enhance energy security, reduce grid pressure, and lower carbon emissions. Support includes simplified installations, financial incentives, and infrastructure development for a sustainable energy future.

TotalEnergies, Masdar Sign $2.2 Billion JV to Expand Renewable Portfolio Across Asia

TotalEnergies and Masdar have formed a $2.2 billion joint venture to expand onshore renewable energy projects in Asia, covering nine countries. This partnership aims to develop 3 GW of operational assets and 6 GW in advanced stages by 2030, leveraging both companies' expertise to meet rising electricity demand.

Indonesia Maintains Electricity Tariffs for Q2 2026 to Support Economic Stability

The Ministry of Energy and Mineral Resources has decided to maintain electricity tariffs for Q2 2026 to support public purchasing power and national industrial competitiveness. This decision reflects a commitment to affordability and efficient electricity usage, while considering various economic indicators and global uncertainties, ensuring stability for consumers and businesses.

FROM ACROSS THE GLOBE

ScottishPower Partners With Fort, Seafield and Wallacetown Community Association To Install Solar Panels For A Long-Term Community Fund

In Wallacetown, ScottishPower and local associations have implemented a community-owned solar panel initiative to generate clean energy and support residents financially. Over 25 years, this project will generate an estimated £1 million, enhancing local services and tackling fuel poverty, while empowering the community toward sustainable development.

DEWA Approves AED3.1 Billion Dividend Amid Rising Power Demand and Clean Energy Expansion

Dubai Electricity and Water Authority (DEWA) has received approval for a AED3.1 billion dividend for H2 2025, reflecting its strong financial performance. In 2025, DEWA reported a 6.02% revenue increase to AED32.84 billion and a net profit surge of 25.17% to AED9.06 billion, driven by rising demand and investments in renewable energy.

Energy-Powered Digital Infrastructure: Tetracore, Huawei and Inspirive to Develop $400 Million Grid-Independent Tier III Data Centre in Nigeria

Tetracore Energy Group has partnered with Huawei and Inspirive Technologies to build a $400 million Tier III data center at its Ogun State Energy Park. The 20 MW facility will address Nigeria's energy challenges and support digital infrastructure growth. Completion is anticipated within 10 to 12 months, enhancing data sovereignty and reliability.

Surat-Based Cosmic PV Power Submits DRHP to SEBI for ₹640 Crore IPO

Cosmic PV Power Limited has submitted its Draft Red Herring Prospectus to SEBI, aiming to raise ₹640 crore through an initial public offering. This amount includes a fresh share issue of ₹540 crore and an offer for sale of ₹100 crore. Funds will support expansion and working capital as the company grows in India’s solar market.

INSIGHTS

Mixed Trends In Indian Green Energy Stocks Reflect Cautious Investor Sentiment On April 2

On April 2, 2026, India's stock market showed mixed results in the green energy and power sectors, driven by cautious investor sentiment. The S&P BSE SENSEX rose 0.3% while the NIFTY 50 gained 0.17%. Smaller renewable companies like EKI Energy surged, while larger firms faced selling pressure, illustrating sector volatility.

CEA Plan Targets 1,121 GW Capacity And 70% Clean Energy Share By 2035-36

India's power sector, through the National Generation Adequacy Plan (2026-36), aims to double its capacity to 1,121 GW, addressing rising electricity demand projected to reach 459 GW. A significant shift towards renewable energy, particularly solar and wind, is outlined, supported by robust energy storage solutions. Coal will retain a vital role in the energy mix, while advancements in electric vehicles and green hydrogen production are also highlighted.

Malaysia Faces Heatwave And Rising Energy Costs, Urges Households To Conserve Power

Malaysia faces dual challenges of extreme heat and rising global energy costs, resulting in lower dam water levels and increased electricity demand for cooling. The Energy Commission warns of higher bills and encourages energy conservation and solar power installation. Despite a stable energy mix, caution is advised due to potential costs linked to imported coal and global issues.

Solar-Powered 6,000 KMs Journey Showcases Africa’s Electric Mobility Potential

A 6,000 km trip from Kenya to South Africa demonstrates the feasibility of electric mobility in Africa, using locally made solar-powered electric motorbikes. This initiative shows potential for reducing costs, air pollution, and reliance on fossil fuels while emphasizing the need for local manufacturing and supportive policies to facilitate widespread adoption.

IN CONVERSATION

JinkoSolar’s Saudi Odyssey: Decades of Innovation and the Road to Vision 2030 – Robin Li, General Manager (MEA&CA)

As JinkoSolar celebrates its 20th Anniversary, how do you reflect on your growth journey in Saudi Arabia and the key milestones that strengthened your...

RenewX 2026: A Decade of Powering South India’s Green Revolution – Julian Thomas, Portfolio Director (Energy & Battery Industry – India), Informa Markets

Over the past decade, how has RenewX Expo reflected the evolving renewable energy market in South India and highlighted key trends for India and...

Rahul Kale of Sunpower Renewables on the Future of Hybrid Solar and Energy Storage

As the shift to cleaner energy intensifies, hybrid solar and energy storage technologies are essential for reliable power supply. Sunpower Renewables, led by Rahul Kale, focuses on innovative, customer-centric solutions. The company advocates for policies that support energy storage deployment while balancing domestic and international growth, emphasising efficiency and long-term value in the Indian market.

Beyond Inverters: Deye’s Integrated Solar, Storage & EV Vision for India’s Energy Future – Bharat Singh, Director – Sales Marketing (India & North Africa)

How do Deye’s newly launched on-grid inverters up to 136 kW support the growing C&I solar market in India? Deye’s revolutionised C&I solution was launched...

“Small Components Can Make a Big Impact”: Matthias Mack on Stäubli’s India Strategy

As India accelerates toward its ambitious 2030 renewable energy targets, strengthening domestic manufacturing has become a key pillar of the country’s clean energy strategy....

Hoymiles’ 360 MW Deal Redefines Microinverter Adoption in India – Vikrant Sarang, Regional Sales Manager, West & Central India

What does India’s biggest 360 MW microinverter deal with Kosol Energie indicate about the growing acceptance of microinverters in India? This milestone reflects not just...
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Technology

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Recent advancements in energy technology include a breakthrough in lithium-air batteries with a novel tungsten diselenide catalyst, the rising importance of DC distribution boxes in solar plants, and the growing popularity of hybrid solar systems. Companies like Deye, JA Solar, and Fox ESS are enhancing energy storage and performance, while innovations in solar materials and safety are paving the way for a more sustainable future.

Lithium–Air Batteries Move Closer to Reality with Catalyst Breakthrough

A joint team from KIST and IAE has advanced lithium–air battery technology, overcoming efficiency and durability issues. They developed a tungsten diselenide catalyst that significantly improves reactions critical for battery function. This battery maintains stable performance for over 550 cycles, outperforming conventional catalysts and promising advancements in energy storage applications.

Explained: Why DC Distribution Boxes (DCDB) Are Critical For Safety And Performance In Utility-Scale Solar PV Plant

The DC Distribution Box (DCDB) is crucial in utility-scale solar PV plants, centralizing the collection and transmission of DC power while ensuring safety through components like fuses and surge protection. It enhances performance by simplifying cable management and enabling real-time monitoring, which optimizes maintenance and boosts energy yield in challenging conditions.

Solar-Driven Process Converts CO₂ into Sustainable Aviation Fuel

A research team led by the University of Sheffield has unveiled a solar-powered pathway to produce sustainable aviation fuel (SAF), offering a potential breakthrough...

Explained – Role Of Ultra-Thin Oxide Layers In Enhancing Carrier Selectivity In Topcon Cells

TOPCon solar cells utilize a Tunnel Oxide Passivated Contact design to enhance efficiency by selectively allowing either electrons or holes to pass through, minimizing recombination losses. The ultra-thin silicon dioxide layer provides tunneling capabilities and surface passivation, crucial for high performance. Optimizing this layer is vital for advancing solar technology.

AUSTRALIA

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MNRE Issues New Inverter RMS And Datalogger Testing Guidelines For PM Surya Ghar Rooftop Solar Scheme

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