Prime Minister Narendra Modi Unveils Ambitious ‘Pradhan Mantri Suryodaya Yojana’ – Aiming To Bring Solar Power To 1 Crore Households
In a significant development on the occasion of the consecration of life in Ayodhya, Prime Minister Shri Narendra Modi has declared the launch of the ‘Pradhan Mantri Suryodaya Yojana,’ a pioneering initiative that aims to bring rooftop solar power to one crore households across the nation. Prime Minister Modi expressed his commitment to ensuring that every Indian household has access to its solar rooftop system. “Today, on the auspicious occasion of the consecration of life in Ayodhya, my resolve has been further strengthened that the people of India should have their solar rooftop system on the roof of their houses,” he stated.
Union Power Minister Envisions 400 GW Peak Demand And 65% Non-Fossil Capacity By 2030
The Union Minister for Power and New & Renewable Energy, Shri R. K. Singh, emphasized the pivotal role of electricity as a fundamental infrastructure for development during his address at Moneycontrol’s Policy Next Summit in New Delhi. He highlighted that the power shortage in India has substantially decreased from around 4.5% in 2014 to less than 1% today, illustrating the significant strides made in the sector. Shri Singh outlined the comprehensive measures taken to augment the power capacity and strengthen the electricity distribution system. The country witnessed an addition of approximately 194 GW of power capacity, with renewables contributing around 107 GW. The construction of 193,000 circuit km of transmission lines connected the entire nation into one grid, establishing the world’s largest integrated grid. Power transfer capacity increased from 36 GW to an impressive 117 GW, reflecting the nation’s commitment to universal electricity access.
SAEL Announces 1 Billion Capital Raise And Strategic Partnerships For Expanding Renewable Energy Portfolio
SAEL, a leading company specializing in solar and waste-to-energy projects, has successfully forged strategic partnerships and secured a capital raise of up to $1 billion. The announcement was made at an event in New Delhi, attended by dignitaries including the Hon’ble Ambassador of Norway, the Deputy Chief of Mission from the United States of America, and other esteemed guests. Major participants in the capital raise include Norfund, DFC, ADB, Tata Cleantech, along with other financial institutions. The $1 billion capital raise is expected to play a pivotal role in SAEL’s ambitious plans, including completing a capital expenditure of ₹15,000 crore in the fiscal year 2025. The company aims to execute 2-2.5 gigawatts of renewable capacity annually, with the ultimate goal of reaching 10 gigawatts in the next four years. This substantial investment will be directed towards expanding SAEL’s solar and biomass projects, capitalizing on favorable market conditions and government schemes in the renewable energy sector.
Karnataka’s Energy Revolution: Embracing Peer-to-Peer Solar Transactions With Blockchain Technology And The Unveiling Of Draft Regulations
The Karnataka Electricity Regulatory Commission (KERC) is paving the way for the implementation of regulations governing peer-to-peer (P2P) solar energy transactions through a blockchain-based platform. This move is aimed at capitalizing on the potential of decentralized energy trading, enhancing efficiency, and promoting the use of innovative technology in the state’s energy landscape. The regulations stem from the KERC’s earlier recognition of solar rooftop photovoltaic (SRTPV) projects under self-investment by consumers. The existing framework allows for net or gross metering arrangements for injecting energy into the electricity supply companies’ (ESCOMs) grid, with the commission determining the tariff payable to prosumers.
Transforming Gujarat’s Agriculture: Empowering Farmers With Off-Grid To Grid-Connected Solar Pump Sets
In a groundbreaking move, the state of Gujarat is set to revolutionize its agricultural landscape by facilitating the transition of Off-Grid Standalone Solar Pump sets to Grid Connected Solar Pump sets. This initiative, outlined in the Government of Gujarat’s GR No. SLR/11/2014/Gol/1154/81 dated 08.07.2022 aims to provide Regular Electricity Connection to farmers and enhance the efficiency of their existing solar pump sets. Eligible farmers, with a minimum of 1 acre of agricultural land, were invited to participate, contributing ₹1,000 per Horsepower (HP) for SC/ST applicants and ₹5,000 per HP for others.
ACME Group And IHI Corporation Forge Historic Partnership For Green Ammonia Supply From India To Japan
In a groundbreaking collaboration, ACME Group, a leading renewable energy company in India, and Japanese integrated heavy industry group IHI Corporation have inked an offtake term sheet for the supply of green ammonia from Odisha, India to Japan. The agreement, signed by ACME Group’s Founder and Chairman, Shri Manoj Upadhyay, and IHI Corporation’s President and CEO, Shri Hiroshi Ide, aims to tap into the burgeoning market for green ammonia, positioning themselves as competitors to the prevalent but less environmentally friendly blue ammonia. The move is bolstered by robust support and incentives from the Central Government of India under the National Green Hydrogen Mission (NGHM) and the State Government of Odisha.
Juniper Green Energy And KPI Green Energy Secure Top Honors In GUVNL’s 500 MW Wind-Solar Hybrid Auction
Gujarat Urja Vikas Nigam Ltd. conducted a tender for Wind-Solar Hybrid technology with a tendered capacity of 500 MW, out of which 280 MW was auctioned electronically on January 22, 2024, and only 200 MW was awarded. The competitive reverse auction saw key players vying for the opportunity to contribute to the renewable energy landscape. The opening L1 tariff, a critical factor in the auction, was set at ₹2.99 per kWh. KPI Green Energy secured a 50 MW project with a quoted rate of ₹2.99 per kilowatt-hour (KWh). Juniper Green Energy, on the other hand, won a larger 150 MW contract at ₹3.04 per KWh. However, Avaada submitted a bid for 150 MW at ₹3.59 per kilowatt-hour, but the company did not secure any capacity.
PM-KUSUM Scheme Implementation Guidelines Unveiled, Propelling Agriculture Towards Sustainable Energy Transformation
The Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyaan (PM-KUSUM) Scheme is a pivotal initiative by the Government of India, aiming to revolutionize the agricultural sector by integrating solar and renewable energy solutions. In a recent development, comprehensive guidelines have been issued, superseding the previous memorandum from July 22, 2019, and incorporating all subsequent amendments. These guidelines provide a detailed roadmap for the successful implementation of the PM-KUSUM scheme, comprising three crucial components.
Reliance Industries Unveils Giga Energy Complex Set For Revolutionary Launch In Green Technology Production
Reliance Industries Ltd announced plans to commission a cutting-edge energy complex in Gujarat during the latter half of 2024, according to the company’s recent earnings statement and investor call. The expansive 5,000-acre complex in Jamnagar will house five giga factories dedicated to the production of photovoltaic panels, fuel cell systems, green hydrogen, energy storage, and power electronics. During a post-third-quarter earnings call, the company confirmed it is progressing as planned and is poised to launch the new energy facilities in phases throughout the year. The complex, set to be one of the largest integrated renewable energy manufacturing facilities globally, is part of Reliance’s commitment to establishing 100 gigawatts of renewable power in Gujarat with a capital expenditure of ₹5 lakh crore. The company has secured in-principle approval for approximately 74,750 hectares of land in Kutch for green hydrogen production.
Overcoming Connectivity Challenges For 300 MW Solar Power Projects Amid Great Indian Bustard Concerns In Rajasthan
The petition involves Eden Renewable Bercy Private Limited (referred to as “Eden Bercy”) and Eden Renewable Passy Private Limited (referred to as “Eden Passy”), collectively known as the Petitioners. They have filed a petition seeking directions to the Central Transmission Utility of India Ltd. (CTUIL) to shift the connectivity of their 300 MW Solar Power Project in Jaisalmer District, Rajasthan, from Fatehgarh-II Pooling Sub-Station to Fatehgarh-III Pooling Sub-Station or Bhadla II Pooling Sub-Station. The CERC expressed concern over CTUIL’s non-transparent and non-uniform reallocation practices. It directed CTUIL to halt the reallocation exercise, reconsider past reallocations, and formulate transparent procedures for future reallocations.
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