Subsidies Fueling India's Rooftop Solar Boom! & others

Exciting Leadership Changes at GS Caltex, Saatvik Solar, and Happiest Minds!

• GS Caltex India appoints Vijay Savant as the new Managing Director and CEO. Savant brings over 25 years of experience from companies like LG Chem, Reliance Industries, and BP.
• Saatvik Solar names Abani Kant Jha as Chief Financial Officer (CFO). Jha's 25-year career spans various industries, showcasing his financial expertise.
• Kuldeep (KK) J. joins Saatvik Solar as Chief Operating Officer (COO) to lead the company’s EPC and IPP projects, aiming for global expansion and innovation.
• Happiest Minds Technologies adds @Mittu Sridhara and @Rajiv Shah to its board of directors, enhancing their strategic IT and digital business capabilities.

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Maharashtra's Ambitious Plan to Quadruple Solar Power: What You Need to Know!

Maharashtra's renewable energy policy aims to increase solar power production fourfold to 12.8 GW in just 14 months! This bold initiative is part of a comprehensive strategy to meet growing energy demands sustainably.

• Target: Increase solar power capacity to 12.8 GW by the end of 2025.
• Components: Includes standalone solar projects, rooftop installations, and solar water supply systems.
• Decentralized Solar Projects: Mukhyamantri Saur Krushi Vahini Yojana 2.0 will implement 7,000 MW of solar projects to provide daytime power to farmers.
• Rooftop Solar Subsidies: Available for residential and commercial properties, enhancing accessibility to solar energy.
• Stakeholders: Maharashtra State Electricity Distribution Co. Ltd. . (MSEDCL) and Maharashtra Energy Development Agency (MEDA) play crucial roles in project execution.
• Agricultural Focus: 100,000 solar pumps to benefit farmers, ensuring reliable electricity during the day.
• Renewable Purchase Obligations (RPO): Commitment to increasing the share of non-fossil sources in the energy mix.

This initiative aligns with Maharashtra's mission to reduce carbon footprint and promote sustainable development.

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Subsidies Fueling India's Rooftop Solar Boom!

• India's Rooftop Solar Surge: Driven by central and state subsidies.
• Government Push: PM Surya Ghar Muft Bijli Yojana supports 1 crore households.
• Financial Aid: Up to 40% subsidy on solar installations.
• State Initiatives: Delhi, Gujarat, Himachal Pradesh, Uttarakhand, and West Bengal leading the way.
• Economic Impact: Savings of INR 75,000 crore per year on electricity costs.
• Environmental Goals: A step towards net zero emissions by 2070.
• Rural Empowerment: Schemes like Gujarat's SKY support farmers.

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MOS Utility Ventures into Solar Energy Sector!

• MOS Utility Limited board approves a strategic foray into the solar power sector.
• New business activities will include manufacturing and dealing in solar PV modules, batteries, energy storage devices, and more.
• This move aims to tap into the growing demand for sustainable solutions and create new revenue streams.
• Chirag Shah, Co-Founder & Executive Director, expresses enthusiasm for this expansion.
• The company will leverage its vast network across India to enhance its market share.
• Aligns with global trends toward sustainability and clean energy.
• Expected to significantly contribute to the company's long-term profitability and growth prospects.
• Part of a broader strategy to diversify and strengthen its position in the market.