Daily News Wrap up: BUDGET: FM Announces Support For Rootop Solar, Offshore Wind and EV Manufacturing

RENEWABLE ENERGY NEWS

BUDGET: FM Announces Support For RTS, Offshore Wind and EV Manufacturing

Union Finance Minister Nirmala Sitharaman announced the Union Budget 2024 today. Speaking in Lok Sabha, the finance minister discussed the recently announced Pradhan Mantri (PM) Suryodaya Scheme. On January 22, PM Narendra Modi announced the connection of one crore households with rooftop solar. In her...Read more.

BUDGET: Solar Industry Wants Funds For RTS, Lower GST On Equipment

As Union Finance Minister Nirmala Sitharaman is all set to announce the Union Budget today in Lok Sabha, the solar industry is anticipating several announcements for the sector. Several industry experts anticipate announcements that could support the industry. However, most of the solar industry experts...Read more.

NHPC Invites Bid for 1200 MW Wind Plant in Central, South India

Indian public sector hydropower company NHPC has invited bids for wind power projects for a contracted capacity of 1200MW from Inter-State Transmission System (ISTS) connected Wind Power Projects under Tariff Based Competitive Bidding (TBCB) that will be conducted online. The last date for the submission...Read more.

NTPC, NRL Partner To Setup Green Energy Projects In North East

National Thermal Power Corporation (NTPC) limited has signed a memorandum of understanding (MoU) with Numaligarh Refinery Limited (NRL), a subsidiary of Oil India Ltd. NRL is engaged in the business of Refining and Marketing of petroleum products. The MoU covers partnership opportunities in the proposed...Read more.

GUVNL Invites Bids For Power Procurement From Khavda Solar Park

Gujarat Urja Vikas Nigam Limited (GUVNL) has invited bids for the procurement of renewable power through a competitive bidding process (followed by an e-reverse auction) from its 1,125 MW grid-connected solar photovoltaic power projects to be set up in Gujarat State Electricity Corporation Limited (GSECL)...Read more.

Cleantech Solar Raises Rs 6.25 Billion From Tata Capital for Indian RE Projects

Singapore headquartered Cleantech Solar has successfully secured a substantial long-term senior secured loan facility of Rs 6.25 billion from Tata Capital Limited. This funding is earmarked for bolstering its open access portfolio within India. Cleantech Solar stands as a prominent provider of renewable energy solutions...Read more.

UREDA Invites Bids for 250 MW Solar Power Projects in Uttarakhand

In its latest tender, the Uttarakhand Renewable Energy Development Agency (UREDA) has sought bids to empanel developers for the establishment of 250 MW grid-connected solar power projects under the “Mukhyamantri Saur Swarojgar Yojana in the state. The Expression of Interest (EOI) for empanelment of the...Read more.

Suzlon Q3 Results: Net Profits, EBITDA See A Hike On YoY Basis

Indian Wind Turbine manufacturer Suzlon announced its financial results for Q3 for FY24. The Pune-based firm reported a 160 percent rise in its net profit in Q3 on a Year-on-Year (YoY) basis.? In its filing before the Bombay Stock Exchange (BSE), the publicly listed company...Read more.

With Twin Deals, Cubico Acquires 1600-MW Renewables’ Pipeline in Mexican Market

Cubico Sustainable Investments has announced the completion of two transactions which it says significantly enhance the company’s renewable energy footprint and development portfolio in Mexico. Through the acquisition of Renantis Mexico and a strategic agreement with Sowitec Group, the development pipeline of Cubico in Mexico...Read more.

With $500 million of Production Tax Credits, 600 MW Solar Project Moves Ahead In US

Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, has announced the closing of financing for its Hornet Solar project. The asset will deliver renewable energy to communities throughout Texas, provide grid stability, and mitigate price volatility in Electric Reliability Council of...Read more.

Singapore-Based Singtela Develops Green Energy Driven Data Centres

Singtela has launched an AI development initiative in Singapore and the region, partnering with global and local ecosystem partners in AI, renewable energy, sustainable technologies, and talent development. The company is expanding its regional data center business by building new, green, sustainable, and hyper-connected AI-ready...Read more.

Global Clean Energy Investment Jumps 17%, Hits $1.8 Trillion: BloombergNEF

The latest report on Energy Transition published by energy think tank BloombergNEF said that the global investment in the low-carbon energy transition surged 17% in 2023, reaching $1.77 trillion. The report titled, 'Energy Transition Investment Trends 2024 ', said that this number is a new...Read more.

ADB Issues its Largest Local Currency Green Bond in Indian Rupees

The Asian Development Bank (ADB) has raised 12.5 billion Indian rupees (about $150 million) through its largest local currency green bond issue to date.? The issue is structured as a 4-year currency-linked bond, with a bullet repayment at maturity and carrying a fixed interest rate...Read more.

EV'S & STORAGE NEWS

BUDGET: EV Sector Pins Hopes On FAME-3, Tax Revisions

With the expected culmination of the FAME-II scheme, Electric Vehicle (EV) manufacturers, battery makers and charging infrastructure developers have pinned hopes on the Union Budget 2024. The most awaited decision is on the likely announcement of the rollout of FAME-III with revised norms. The grapevine...Read more.

European EV Sales Increased To 16.3% From 12.9% YoY: EIA

A recent report by the US energy agency EIA found an increase in the sale of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEV) in the United States. It rose to 16.3% of total new light-duty vehicle (LDV) sales in 2023, according...Read more.