Top Solar Headlines Of The Week: Innovations And Investments In India

Gensol Engineering Wins ₹463 Crores EPC Contract For Gujarat Solar Plant

Gensol Engineering Ltd., a leading firm in solar power engineering, procurement, and construction (EPC), has been awarded a major contract for a solar plant at Khavda RE Power Park in the Rann of Kutch, Gujarat. The ₹463 crores project will involve the engineering, design, procurement, erection, testing, and commissioning of a state-of-the-art solar facility, featuring a fixed tilt module mounting structure and other system components.

BluPine Energy Secures $28.6 Million Financing For 75 MWp Solar Project In Chhattisgarh

BluPine Energy has successfully closed the financing for a new 75 MWp solar project in Chhattisgarh, India. Leading this effort, Tata Capital and a group of partner banks have committed ₹2,390 million (about $28.6 million) in debt funding. In this venture, BluPine is teaming up with APL Apollo Building Products, which, as a key player in the structural steel tube market, will also be the primary consumer of the solar energy produced. The solar facility is anticipated to generate around 117 million units (MUs) of electricity per year, which will help mitigate more than 107,000 tons of CO2 emissions annually.

ADB Approves $240.5 Million For Rooftop Solar Systems To Boost India’s Renewable Energy Goals

The Asian Development Bank (ADB) has sanctioned $240.5 million in loans to finance rooftop solar systems in India, supporting the government’s efforts to expand energy access through renewable sources. This funding backs the second and third tranches of the Multitranche Financing Facility (MFF) Solar Rooftop Investment Program, originally approved by ADB in 2016 and restructured in 2023 to prioritize residential solar rooftop deployments.

Government Slashes 7.5% Customs Duty On Solar Capital Goods To Boost Renewable Energy Sector

The government has slashed customs duty on capital goods for manufacturing solar photovoltaic cells and modules from 7.5% to nil. This move aims to make solar power more affordable by reducing the cost of importing key components, thereby lowering production costs. The zero-duty applies to raw materials, components, and parts, enhancing the competitiveness of domestic solar manufacturers. This initiative is expected to boost investment, job creation, and technological advancements, while also making solar energy solutions more affordable for consumers, contributing significantly to India’s renewable energy targets and sustainable development goals.

NTPC Vidyut Vyapar Nigam Ltd. Issues Tender For 1,698 KW Solar Power Project At Munitions India

NTPC Vidyut Vyapar Nigam Ltd. (NVVN) has announced a tender for the development of a substantial solar power project at Munitions India Ltd. (MIL). The project will include both ground-mounted and rooftop installations, totaling 1,698 kW. The scope involves a 769-kW ground-mounted system and a 929-kW rooftop system at MIL’s facilities in Aruvankadu and Trichy.

Tata Power Solar And Bank of India Partner To Facilitate Green Financing

Tata Power Solar Systems Limited (TPSSL), a leading solar energy company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced a strategic partnership with the Bank of India (BOI). This collaboration marks a significant milestone, with TPSSL becoming the first solar company to work with BOI on financing both solar installations and electric vehicle (EV) charging stations.

ReNew Launches Major 400 MW Solar Project In Rajasthan

ReNew, India’s leading renewable energy company inaugurated a significant 400 MW solar project in Rajasthan. This project is part of a larger 600 MW Power Purchase Agreement (PPA) signed with the Solar Energy Corporation of India Limited (SECI), aiming to produce clean energy in the region for the next 25 years. The 600 MW solar power plant, spanning 2000 acres across multiple villages in the Pokran and Bhaniyana tehsils of Jaisalmer district, is projected to generate approximately 1,331 million units of electricity annually. The project features a competitive tariff rate of ₹2.18 per kWh.