Welcome to another release of our India x Cleantech series! On a monthly basis, we publish news from the clean technology sectors in India in a single, short summary article about the country.
Germany Pledges 10 Billion Euros to India for Climate Finance
India and Germany have agreed to expand cooperation for sustainable development. Germany has pledged 10 billion euros for a number of sustainability projects, including a renewable energy project in northern India. Germany is also providing financial support to India for the Green Energy Corridor program – a long-term initiative to develop a network of transmission projects to serve renewable energy projects.
Waaree Energies will buy Indosolar, a bankrupt solar cell manufacturer
Waaree Energies, one of India’s leading solar and module manufacturers, has received approval to acquire Indosolar, a bankrupt solar cell manufacturer. With this purchase, Waaree solar panels will increase production capacity from 4 gigawatts to 5.4 gigawatts.
Shell plans to buy Spring Energy for $ 1.55 billion
Shell has signed a deal with Actis to acquire a 100% stake in Sprng Energy, the developer of a renewable energy project in India. Sprng has an installed portfolio of 2.1 gigawatts and an additional 8.3 gigawatts under development. This will be Shell’s third major acquisition in India’s renewable energy sector. He is a shareholder in Husk Power Systems and Cleantech Solar.
Acme Tamil Nadu Plans 7 Gigawatt Green Ammonia Mechanism
Acme Solar Holdings plans to build 7 gigawatts of renewable energy and green ammonia plants in the southern state of Tamil Nadu. The company is expected to invest $ 6 billion. Acme is already working on one Green Ammonia Project in Oman. The company works in a 50:50 joint venture with Swedish company Scatec ASA. According to Acme, the first phase of the project is expected to produce 100,000 tons of green ammonia annually. This will increase to 3.5 million gigawatts of electricity and 5 gigawatts (peak) of solar energy.
500 Billion Rs Investment in Battery Storage, Green Hydrogen Facilities Update New Energy Plans
ReNew Power has signed an agreement with the Karnataka provincial government to invest about Rs 500 billion ($ 6.4 billion) in renewable energy projects and storage of batteries and construction of production facilities for green hydrogen. The company intends to make this investment over the next seven years.
JSW Energy will acquire Wind Energy Developer Mytrah Energy
A subsidiary of the Indian conglomerate JSW Group has signed an exclusive contract to acquire Mytrah Energy, a wind farm project headquartered in southern India. The contract is valued at about $ 2 billion. JSW Energy intends to aggressively expand its renewable energy potential.
Renewable Energy and Batteries
Reliance Industries Plans 100 Gigawatt Solar Energy Capacity
Reliance Industries, one of India’s largest conglomerates, is reportedly planning to consolidate enough land to build 100 gigawatts of solar power. The company is looking for land in western Gujarat, where the refinery is located. According to media reports, the company can consume a quarter of the planned solar energy and sell the rest to other industries.
290 megawatts of floating solar energy has been put up for auction in the Central Indian Dam
Three companies – AMP Solar and state-owned NHDC and SJVN – have been awarded the right to develop floating solar projects at the Omkareshwar Reservoir in Madhya Pradesh. 600 megawatts were offered in the tender, but in the end only 290 megawatts won. The companies offered between Rs 3.21 and Rs 3.26 per kilowatt-hour.
Hindustan Salts Offers Land for 1 Gigawatt Solar Energy Project
The government-owned Hindustan Salts has announced a tender to receive an offer from the developers of a land-based solar project. The 5,000-acre site will be able to support the development of 1 gigawatt of solar power. There are no restrictions on the sale of energy from the project, and the developer is free to explore all revenue options.
Tata Power Solar Wins 300 Megawat Orders
Tata Power’s subsidiary Solar EPC has announced that it has received an order from the government-owned NHPC to develop a 300-megawatt solar project. The contract is worth 17.3 billion rubles. The project is expected to be completed within 18 months and generate 750 million kilowatt-hours of electricity annually. Tata Power Solar Systems currently has an outstanding order book worth Rs 135 billion.
Adani launches 390 Megawatt Solar-Wind Project
Adani Green Energy, one of India’s leading renewable energy companies, has launched a 390-megawatt solar-wind hybrid project in western Rajasthan. The company secured the project through a competitive auction organized by the Solar Energy Corporation of India. The company will supply SECI with electricity at a rate of 2.69 Rs ($ 3.5) per kilowatt-hour for 25 years. With this project, Adani’s operating capacity reached 5.8 gigawatts with a total portfolio of 20.4 gigawatts.
ReNew Power expands its portfolio by more than 700 megawatts
Indian-based Nasdaq-listed ReNew Power said it had signed deals to acquire 527 megawatts of wind and solar power projects. The projects are distributed in eight states. The company has also been awarded a 200-megawatt solar power project by a distribution service in Maharashtra. The project is expected to be commissioned by the end of 2024. ReNew’s total portfolio is currently 12.8 gigawatts.
Greenko Initiates 5.23 Gigawatt Pumped Hydro Storage Project
Greenko Energy Holdings has announced the start of construction work on a 5.23 gigawatt pumped reservoir project. The storage project will combine 3 gigawatts of solar and 550 megawatts of wind energy. The project is being developed in the southern state of Andhra Pradesh. The company has a renewable energy potential of 7.5 gigawatts and is in the process of developing another 10 gigawatts.
Tata Power is commissioning a 100-megawatt solar project in Maharashtra
Tata Power Renewable Energy, a subsidiary of Tata Power, has launched a 100-megawatt solar project in western Maharashtra. The project was awarded to Tata through a competitive auction. The project is expected to compensate for annual emissions of 234,000 tons of carbon dioxide.
Tata Motors will expand India’s largest roofing solar project
Tata Motors, one of India’s leading automakers, has announced that it will expand its existing 10 megawatt solar power on the roof by 7 megawatts. The company will build this capacity at its plant in Pune. The project is being developed by Tata Power Group. With this new project, Tata Motor Pune will have India’s largest roofing solar project in a single factory.
India plans to have 30 gigawatts of wind power at sea by 2030
India’s Minister of New and Renewable Energy, RK Singh, has stated that the country will have 30 gigawatts of offshore wind power by the end of this decade. India has been considering offshore wind energy projects for several years, but has not taken any concrete steps. The government is expected to hold tenders soon.
Originally published in Future Trends.
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