India’s Solar Leap: Reliance to Launch First Giga-Factory for Green Energy
In a significant move towards sustainable energy, Mukesh Ambani, Chairman of Reliance Industries Ltd, revealed that the company will inaugurate its first solar giga-factory later this year. This ambitious project marks a pivotal shift for India’s most valuable company, signaling a strong commitment to green energy solutions. The upcoming solar giga-factory will be a state-of-the-art facility designed to streamline the production of various photovoltaic (PV) components. This includes the manufacturing of PV modules, cells, wafers, ingots, polysilicon, and glass—all essential for converting sunlight into usable electricity.
SECI Achieves Navratna Status, Strengthening India’s Renewable Energy Efforts
The Solar Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy, has been granted Navratna status by the Ministry of Finance. This recognition, which marks SECI’s 13th year since its incorporation, enhances its financial and operational autonomy, paving the way for accelerated growth and innovation in India’s renewable energy sector. With a cumulative generation awarded capacity of 69.25 GW and an annual power trading volume exceeding 42 billion units, SECI continues to play a pivotal role as the country’s foremost Renewable Energy Implementing Agency (REIA).
Coal India Ltd Seeks Bids for 300 MW Solar PV Project in Gujarat’s Khavda Solar Park
Coal India Ltd. (CIL) has issued a tender for a 300 MW grid-connected Solar PV plant at Khavda Solar Park, Gujarat. The project involves design, engineering, procurement, construction, and commissioning, including a five-year operation and maintenance period. It requires 405 MWp of PV modules and aims for a 28% Capacity Utilization Factor (CUF). Open to domestic bidders, the tender follows a two-part online bidding system. Issued on August 29, 2024, the project must be commissioned by January 31, 2026. The tender process includes site visits and a pre-bid meeting.
Epic Energy and Niva Ecotech Partner to Build 35 MWp Solar Park in Solapur, Advancing India’s Renewable Energy Goals
Epic Energy Limited has partnered with Niva Ecotech Pvt Ltd to establish a 35 MWp Solar Park in Solapur, Maharashtra. This marks Epic Energy’s entry into solar park development through its subsidiary, Epic Renewable Projects Private Limited. The project is part of a larger goal to reach 140 MWp within two years. Niva Ecotech brings significant local experience to the collaboration. The venture aims to support Corporate India in reducing carbon footprints and energy costs through Solar Energy Plants under the Group Captive Open Access system.
KPI Green Energy’s Subsidiary Secures Strategic LoIs for 7 MW Solar Projects
KPI Green Energy Limited, through its subsidiary Sun Drops Energia, secured Letters of Intent for 7 MW solar projects from Wolkem India Ltd and Mahadev Texo Fab, to be completed within FY25. Following the announcement, KPI’s stock surged, peaking at ₹900 on the BSE. The company reported a strong financial quarter ending June 2024, with net profit nearly doubling to ₹66.11 crore and revenue rising 83.6% year-on-year to ₹349.85 crore. The Board also approved an interim dividend of 0.20 paisa per share for FY25.
Adani Green Energy and TotalEnergies Forge Joint Venture for 1,150 MW Solar Projects in Gujarat
Adani Green Energy Limited (AGEL), India’s leading renewable energy company, and French multinational TotalEnergies have announced a strategic joint venture (JV) to manage solar projects totaling 1,150 MW at the world’s largest renewable energy plant in Khavda, Gujarat. The Joint Venture will be equally owned by both companies. AGEL will contribute its existing assets to the partnership, while TotalEnergies plans to invest USD 444 million to accelerate the development of these solar projects. The investment highlights the companies’ commitment to advancing India’s transition to clean energy.
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