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BC Jindal Group, a leading Indian conglomerate with a turnover exceeding Rs 18,000 crore, announced its entry into India’s renewable energy sector, with plans to invest approximately US $2.5 billion over the next five years. Story By: Saurav Anand BC Jindal Group| Jindal India Renewable Energy #renewables #energy #investments #power #energysecurity #india #solarcells #solarmodules

Sunsure Energy Inks MoU with Tamil Nadu Government for 500 MW Renewable Energy Expansion During the Tamil Nadu Global Investors Meet 2024, Sunsure Energy, a prominent renewable energy producer in India, solidified a Memorandum of Understanding (MoU) with the Government of Tamil Nadu. This collaboration outlines the development of four renewable energy projects, collectively generating 500 MW within the state. Valued at ₹3,150 Crores, Sunsure Energy’s investment over the next three years will focus on establishing three 100 MW solar power plants and a 200 MW wind power plant strategically positioned across Tamil Nadu. The timeline for these projects spans from 2024 to 2027, with the Tuticorin and Tirunelveli projects set to commence in […] Read the full story here: https://lnkd.in/d3AcgEmG #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #energyexpansion #india #mou #renewableenergy #sunsureenergy #tamilnadu

News Flash 📰 Renewable Energy Expansion: India issued 13,124 MW of new #Renewableenergy tenders in May 2024. This move underscores India's commitment to its #SustainableDevelopmentGoals. 🔸 Rajasthan Urja Vikas Nigam Ltd: Introduced an 8000 MW #solartender. One of the largest single solar energy tenders in India's history. 🔸 #NTPC and #NHPC: Each corporation unveiled 1200 MW tenders. These contributions significantly boost India's Renewable Energy capacity. 🔸 Solar Energy Corporation of India Limited(SECI): Launched tenders for 1200 MW of #solarenergy projects. Additionally, SECI dedicated 500 MW to #windenergy across multiple states. Initiatives highlight India's proactive approach to expanding its renewable energy footprint. Play a key role in achieving National Sustainable Development Goals. #RenewableEnergy #SustainableDevelopment #GreenEnergy #SolarPower #WindEnergy #India #Sustainability #CleanEnergy #ClimateAction

India is set to enforce new norms for distribution licensees regarding the consumption of renewable energy, starting from April 1, 2024, R K Singh said in a written reply to a question in Lok Sabha on February 8, 2024. This move comes as of the latest data, India has more than 180 GW (Gigawatts) of installed renewable energy capacity. Story by: Rhydhm Takkar Raj Kumar Singh| Ministry of New and Renewable Energy (MNRE)| #IndiaEnergy #RenewableEnergy #EnergyPolicy #LokSabha #RKSingh #EnergyRegulations #GreenEnergy #CleanEnergy #EnergyTransition

Gujarat’s Renewable Energy Drive: GUVNL’s 250 MW Battery Storage Project Seeks Tariff Approval For 500 MWh Capacity In recent developments related to the adoption of renewable energy sources in Gujarat, BSES Gujarat Urja Vikas Nigam Ltd. (GUVNL) has filed a petition seeking approval for the tariff rates discovered through a competitive bidding process conducted for the procurement of storage capacity from a standalone Battery Energy Storage System (BESS) project. The petition filed by GUVNL revolves around the approval of tariff rates discovered during the bidding process held on November 29, 2023. This process aimed to secure storage capacity for a 250 MW/500 MWh BESS project to be established in Gujarat. The competitive bidding process involved multiple stakeholders, […] Read the full story here: https://lnkd.in/ds_SruUc #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #bess #gensolengineering #gujarat #guvnl #india #regulatoryaffairs #solarenergy

According to ICRA research, India is set to achieve an impressive milestone, with its renewable energy capacity expected to reach 170 GW by March 2025, soaring from the current 132 GW as of October 2023. 📈 The surge is attributed to a substantial increase in tendering activity, with over 16 GW projects bid out and an additional 17 GW bids in progress by Central nodal agencies. Vikram Reddy V, VP and Sector Head at ICRA, highlighted key factors propelling this growth, including the sharp decline in solar PV cell and module prices, abeyance of the ALMM order till March 2024, and timeline extensions for solar and hybrid projects. 💡 Vikram emphasized the positive impact on debt coverage metrics, citing a 35 bps improvement in the average DSCR for solar power projects. Despite near-term benefits, he cautioned developers about potential exposure to imported solar PV cell and wafer price fluctuations until fully integrated module manufacturing units are established in India. 🌍 The rise in renewable energy capacity is projected to elevate the share of RE plus large hydro in all-India electricity generation from 23% in FY23 to approximately 40% in FY30, fostering a sustainable energy future. Stay tuned for the promising developments in the upcoming tenders, where the share of RE-based round-the-clock projects is anticipated to rise further. #renewableenergy #india #energytransition #sustainablefuture #cleanenergy #marketinsights #solarpowered #solarpower #solarenergy

Gujarat Urja Vikas Nigam Ltd. (GUVNL) And SECI’s 150 MW Battery Storage Agreement Advancing Grid Stability And Renewable Integration In Gujarat In a recent proceeding before the Gujarat Electricity Regulatory Commission, a significant petition was brought forth concerning the approval of a Battery Energy Storage Sale Agreement (BESSA) between Gujarat Urja Vikas Nigam Limited (GUVNL) and Solar Energy Corporation of India Limited (SECIL). The agreement pertains to the procurement of 150 MW/300 MWh of energy storage capacity under a pilot project initiated by SECI through competitive bidding. Representatives from GUVNL appeared before the Commission, highlighting the strategic importance of this agreement in enhancing energy storage capabilities. They emphasized its alignment with national renewable energy goals and the Ministry of Power’s directives […] Read the full story here: https://lnkd.in/d9hvXFCd #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #batteryenergystorage #gujarat #guvnl #india #regulatoryaffairs #seci

I am delighted to see some very exciting developments in the renewable energy space in Tamil Nadu. Tata Power has committed investment of ₹70,000 crore in the next 5-7 years to develop 10GW of solar and wind power capacity at the recently held Tamil Nadu Global Investors Meet. Similarly, Reliance has also committed to make investments in renewable energy and green hydrogen to promote sustainable development. JSW Energy's commendable commitment of Rs 12,000 crore fortifies the state and the country's renewable energy endeavors. These formidable commitments from industry leaders go a long way in accelerating the country’s mission to mobilize energy transition and meet the net zero goals. https://lnkd.in/g6Q89zY6 https://lnkd.in/gUSYyZ9x https://lnkd.in/gjuJYxaW   #InvestmentInTN #EconomicDevelopment #SustainableFuture   

SJVN Receives Letter of Intent from GUVNL for 500 MW Solar Energy Initiative In a significant development in India’s renewable energy sector, SJVN Green Energy Limited (SGEL), the renewable division of SJVN, has been awarded a 500 MW solar energy project. This announcement came after the company received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) as part of its Phase-XXI initiative. According to Smt. Geeta Kapur, a spokesperson for SGEL, the project was secured through a competitive bidding process, offering a tariff of INR 2.54 per unit. The bidding, conducted electronically on January 25, 2024, by GUVNL, encompasses a base capacity of 100 MW with an option for […] Read the full story here: https://lnkd.in/gwjESrZq #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #gerc #guvnl #india #loi #sjvn #sjvngreenenergy #solarpvproject

A report highlights that India must significantly reduce battery storage costs and rapidly expand renewable energy to achieve its net-zero target by 2070, while effectively utilizing existing coal plants. Solar capacity needs to increase substantially, but hydro growth remains constrained. https://lnkd.in/e_Z-cENi