Welcome to another issue of our India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors in India into a single, concise summary article about the country.
Reliance Industries To Invest $100 Billion In Solar Power
Reliance New Energy Solar, a subsidiary of one of India’s largest conglomerates (Reliance Industries), has announced plans to invest $10 billion in solar power over the next few years. The company recently acquired Norway-based module manufacturer REC Solar Holdings for $771 million. It also entered an agreement with Sterling & Wilson, an Indian solar EPC company, to acquire a 40% stake. Earlier this year, Chairman Mukesh Ambani announced ambitious plans to expand operations into manufacturing solar cells and modules as well as electrolyzers to produce green hydrogen.
First Solar Plans $684 Million Investment In India
US-based First Solar has announced plans to set up a thin film module manufacturing facility in India’s southern state of Tamil Nadu. The company did not indicate planned production capacity at the facility, but committed to create 1,000 jobs.
Adani Renewable Energy Buys 40-Megawatt Solar Power Project
Adani Renewable Energy, a subsidiary of Adani Green Energy, announced that it acquired a 40-megawatt solar power project from Essel Green Energy. The project is located in the eastern state of Odisha. The project was acquired at an enterprise value of around $30 million. The project has a 25-year power purchase agreement with the Solar Energy Corporation of India at Rs 4.23 ($0.057) per kilowatt-hour.
Adani Group To Invest $20 Billion In Renewable Energy
Gautam Adani, Chairman of Adani Group, announced that his company will invest $20 billion in the renewable energy sector through 2030. The company aims to increase its solar power capacity by three times over the next four years. The company currently has 25 gigawatts of renewable power capacity in its portfolio.
Module Maker Emmvee To Invest $110 Million To Expand Production
Module manufacturing company Emmvee has announced plans to expand its production capacity from 500 megawatts to 3,000 megawatts. The company will invest $110 million to expand its current facility located in the southern state of Karnataka.
Tata Motors To Invest $ 2 Billion In Electric Mobility
Tata Motors has announced plans to invest up to $2 billion in its electric vehicle business. The company is among the leading manufacturers of electric cars in India. Private equity firm TPG and Abu Dhabi state holding company ADQ recently announced intentions to invest $1 billion in Tata Motors’ electric car company, which is currently valued at $9.1 billion.
Renewable Energy & Batteries
Indian Government Confident Of Achieving 450 Gigawatts Of Renewables By 2030
India’s Minister for New and Renewable Energy, RK Singh, expressed confidence that the country would achieve 450 gigawatts of renewable energy capacity by 2030. He noted that the share of renewable power in India’s power generation capacity is 39% against a voluntary target of 40% by 2022. India has also set a target to have 175 gigawatts of renewable energy capacity by 2022 and currently has 100 gigawatts, excluding large hydropower capacity.
18 Companies Bid To Set Up Solar Manufacturing Units In India
Leading Indian and international companies submitted bids for subsidies to set up solar module manufacturing facilities in India. Jindal India Solar Energy, Shirdi Sai Electricals, Reliance New Energy and Adani Infrastructure quoted the lowest bid to set up 4 gigawatts of polysilicon-to-module production facilities each. India currently has 15 gigawatts of module production capacity, but none for wafer or polysilicon production. Other major bidders include Larsen & Toubro, ReNew Solar, First Solar, Tata Power and Acme Solar.
Tata Power Wins 100-Megawatt Solar Power Order
Tata Power Solar was awarded a contract by Energy Efficiency Services Limited to set up 100 megawatts of distributed solar power projects in Maharashtra. The total value of the projects is estimated at $71 million and they need to be commissioned within 12 months.
Punjab Gets 400-Megawatts Of Solar Power Bids
Three companies have submitted bids to set up solar power projects to supply power to Punjab. ReNew Power quoted a tariff of Rs 2.33 ($0.031) per kilowatt-hour to set up a 250-megawatt project anywhere in the country. Government-owned hydropower generation company SJVN and SAEL quoted Rs 2.69 ($0.036) per kilowatt-hour to set up 100-megawatt and 50-megawatt projects in Punjab.
GE Lands 810-megawatt Wind Turbine Order
JSW Energy has placed an order to purchase 300 units of GE’s 2.7 MW turbine model. JSW Energy is planning to set up a wind power project in southern state of Tamil Nadu. The project is expected to be commissioned by the first quarter of 2023.
Senvion Wins 591-Megawatt Wind Turbine Order
Senvion has secured an order to supply 219 units of its 2.7 MW turbine model to JSW Energy. Delivery of turbines is expected to start from first half of 2022. Senvion will be responsible for supplying, commissioning, and maintenance of the project.
Sembcorp Wins 180-Megawatt Wind Project
A subsidiary of Singapore-based Sembcorp Industries has secured rights to develop 180-megawatt wind power project through an auction conducted by Solar Energy Corporation of India (SECI). The project is expected to be set up in the state of Karnataka and supply power to SECI for a 25-year period.