The board of World Bank has approved a $625-million loan to support the Centre’s programme to generate electricity from rooftop solar power plants. The Bank also approved a co-financing loan of $120 million on concessional terms and a $5-million grant from the Climate Investment Fund’s Clean Technology Fund, the global development bank.
Ministry of New and Renewable Energy (MNRE) has selected Aryans College of Engineering, Rajpura near Chandigarh for developing it as a green campus under its scheme on development of Solar Cities.
Indian rooftop photovoltaic (PV) system installer Solar Town Energy Solutions Pvt Ltd said it has raised early-stage funding from GREX and that it will soon be ready to close its Series A round of financing.
Azure Power Global Ltd, the Indian solar power producer that is preparing to list in New York, said it has commissioned 88 MW of solar capacity in three different states at home.
The largest plant is of 50-MW capacity and is located in Andhra Pradesh. Two solar parks totalling 28 MW were built in Punjab and one 10-MW facility was constructed in Karnataka. The tariff for these assets ranges from INR 5.89 (USD 0.089/EUR 0.077) per kWh, with escalation, to INR 7.33/kWh.
Azure Power are proud to have successfully brought down the cost of power by almost 74% in 2016 from INR 17.91 per KWh in 2009.The company’s solar portfolio exceeds 900 MW, with assets located in 15 Indian states.
India’s renewable energy sector has been ranked third in the Renewable Energy Country Attractiveness Index (RECAI) with China at second and the US on top.
Kerala government is testing and plans to soon launch solar powered boats on it’s popular backwaters destination to make the state a greener state. Known as God’s own land, Kerala is one of the most popular tourist destinations in India and according to a recent survey has proved to be the top destination for family vacations.
On May 4th, 2016 National Thermal Power Corporation (NTPC, New Delhi), the largest power utility in India, announced that it has commissioned 200 MW out of 250 MW of the first phase of the Ananthapuramu solar photovoltaic (PV) project on April 30th, 2016 in Andhra Pradesh.
With this, the total capacity of non-conventional energy projects of NTPC has become 310 MW. The total installed capacity of NTPC group has now become 47,178 MW through 18 coal-based, 7 gas-based, 9 solar renewable, one hydro and 9 Joint Venture power stations.
The three-day expo conducted in the capital received an overwhelming response and was concluded with Smart Cities India 2016 Awards. 2nd Smart Cities India 2016 expo was inaugurated by Shri Suresh Prabhakar Prabhu, Hon’ble Minister of Railways, Government of India, and Shri Piyush Goyal, Hon’ble Minister of State (Independent charge), Ministry of Power, Coal, and New & Renewable Energy, Government of India.
Canadian solar energy developer SkyPower Ltd said it has entered into an agreement with Chinese battery technology firm BYD Co. Ltd to submit a joint bid in the upcoming tenders for solar power projects and energy storage of up to 750 megawatt (MW) in India.
The total estimated investment in renewable energy power projects during last three years is around Rs. 86,000 crore, stated the press release issued by ministry of new and renewable energy.
As per inputs provided by Central Electricity Authority (CEA), around 15,400 MU has been generated through solar energy during the last three years and it has met the energy requirement to that extent in the country. This was stated by Piyush Goyal, minister of state (IC) for power, coal and new and renewable Energy in a written reply to a question in the Lok Sabha.
The minister further stated that government is promoting solar energy by providing fiscal and promotional incentives such as capital and/or interest subsidy, tax holiday on the earnings for 10 years, generation based incentive, accelerated depreciation, viability gap funding (VGF), financing solar rooftop systems as part of home loan, concessional excise and custom duties, preferential tariff for power generation from renewables, and foreign direct investment up to 100 per cent under the automatic route.
Under grid connected solar power schemes, the developer is decided through open and transparent bidding system. Under off grid solar programme, organisations who are interested in working in the sector can be empanelled as Channel Partners. The ministry has empanelled Channel Partners for grid-connected roof-top, off-grid and solar water heater categories. The government has revised the target of solar power from 20 GW to 100 GW by 2022.
7th World Renewable Energy Technology Congress & Expo-2016 scheduled from August 21 to 23, 2016 will focus on ‘Renewable Energy: What Works, where you may share ideas with global renewable energy industry leaders, experts, financers, network and do business with leading companies.
IREDA might be converted in to Green Bank without undergoing any altercation in its basic structure to enable it access the foreign funding from overseas banks that are currently not supporting the solar and wind funding
barring the well known KFW. With IREDA conversion into Green Bank, it would be entitled to avail of certain benefits, which the agency is currently deprived of and the proposal is being well supported by the Union Power Ministry.
Renewable energy solutions provider Suzlon has announced that it has commissioned 900 MW wind energy projects during fiscal 2015-16, including 520 MW in the last quarter.