Solar Energy Accounts For Close To 20% Of India’s Total Power Capacity By July 2024
India is advancing in renewable energy, with renewables (excluding large hydro) accounting for 33.52% of the total installed power capacity as of July 2024. Solar energy, growing at 22.578% year-on-year, represents 58.03% of this renewable capacity and constitutes 19.45% of total installed capacity. From January to July 2024, India added 13.889 GW of solar PV capacity. The government aims to add over 18 GW of solar PV in 2024, supporting national development, job creation, and economic growth while reducing reliance on coal.
Tata Power Solar Partners with ICICI Bank to Offer Solar Panel Financing Solutions
Tata Power Solar Systems Limited (TPSSL), a leading name in India’s solar energy sector and a subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced a strategic partnership with ICICI Bank, one of the country’s largest private sector banks. The collaboration is set to provide tailored loan solutions aimed at making solar energy more accessible to residential and corporate customers. Under the new initiative, ICICI Bank will offer customized financial products to facilitate the purchase of solar panels from Tata Power Solar. The loans, which can reach up to ₹90 lakh, are available with collateral-free options and repayment terms extending up to five years.
GameChange Solar and Sterling and Wilson Partner for 750 MWp Tracker Supply in India’s Khavda Solar Park
GameChange Solar, a prominent global provider of solar tracking solutions for ground-mounted photovoltaic (PV) plants, has entered into a significant tracker supply contract with Sterling and Wilson Renewable Energy Limited. Sterling and Wilson, a leading global renewable EPC solutions provider based in India, has commissioned GameChange to supply its Genius Tracker™ systems for a 750 MWp solar PV plant at the Khavda Solar Park in Gujarat.
NFL India Invites Bids for 1,500 KWp Rooftop Solar PV Power Plant Project
The National Fertilizers Limited (NFL) has announced an open tender for the pre-qualification of Lump Sum Turnkey (LSTK) bidders to establish a 1500 KWp rooftop grid-connected Solar Photovoltaic (PV) Power Plant at its facility in Panipat, Haryana. This tender, referenced as NFL/CO/Proj./Solar Plant under e-tender number 2024_NFL_205790_1, is a one-part bid system. The tender, published on August 24, 2024, allows document downloads and clarifications until September 5. Bids are open until September 16, with opening on September 17.
Waaree Energies Faces IPO Approval Delay Due to Compliance Issues Amid Expansion Plans
India’s largest solar panel maker, Waaree Energies, is still awaiting IPO approval, eight months after filing due to compliance issues with the Companies Act. The company’s draft IPO, filed on December 29, faced delays as its pre-IPO shares were sold to over 200 investors, breaching regulations. Waaree raised Rs 2,040 crore in pre-IPO funding and plans to raise Rs 3,000 crore through the IPO to fund a Rs 9,000 crore solar facility in Odisha. The company reported a revenue of Rs 6,750.87 crore and a profit of Rs 500 crore for FY 2023.
Zelestra and NTPC Ltd Ink 25-Year PPA for 450-MWp Anboto Solar Project in India
In a significant move to expand its renewable energy footprint in India, Spanish renewable energy company Zelestra has secured a long-term power purchase agreement (PPA) for its 450-MWp Anboto solar project in Rajasthan. The 25-year agreement was finalized with NTPC Ltd India’s state-owned power producer, following a competitive bidding process in January. Previously known as Solarpack, Zelestra was awarded the PPA before its rebranding, and the deal will see NTPC purchase the entire output of the Anboto solar farm, estimated at approximately 801 GWh per year. The project is expected to be operational by the end of 2025.
JSW Neo Energy Secures 200 MW Wind-Solar Hybrid Project from MSEDCL
JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has been awarded a 200 MW Wind-Solar Hybrid Power Project by the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project was secured through a Tariff-based Competitive Bid as part of MSEDCL’s Phase III initiative. With this latest addition, JSW Energy’s total locked-in generation capacity has now risen to 17.2 GW. This includes a significant 2.9 GW in Hybrid capacity, reflecting the company’s ongoing commitment to diversifying its energy portfolio. The company is on track to achieve an installed generation capacity of 10 GW by FY25, up from the current 7.5 GW.
U.S. Customs Detains $43 Million in Indian Electronics Under Forced Labor Law, Impacting Solar Imports – Reuters
Since October, U.S. Customs and Border Protection has detained nearly $43 million in electronics from India under the 2022 Uyghur Forced Labor Prevention Act (UFLPA), targeting goods made with forced labor. Although specific products were not detailed, polysilicon for solar panels is a key focus, and Indian shipments may include Chinese solar cells, raising compliance risks. Indian solar imports to the U.S. surged to $2.3 billion last year. Notably, Waaree Technologies and Adani Enterprises, major Indian suppliers, faced detentions, with Adani confirming compliance and release of its shipments.
Bondada Engineering to Develop 170.40 MW Solar Projects in Maharashtra Under State Government Scheme
Bondada Engineering has secured a letter of award to develop 170.40 MW of grid-connected solar plants in Maharashtra under the state’s Mukhya Mantri Saur Krushi Vahini Yojana 2.0. Awarded by Paradigm IT Technologies and Metalcraft Forming Industries, the projects involve designing, supplying, installing, testing, and commissioning solar power plants at agricultural feeders. The scope includes connecting the plants to substations via an 11 kV line and setting up a remote monitoring system. The plants will be located across various districts in Maharashtra.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
