Key Points
New Delhi: As the curtains draw on 2023, India's energy sector emerges as a vibrant tapestry, intricately woven with ambitious renewable initiatives, groundbreaking policy shifts, and strategic global partnerships, all painting a promising picture for a sustainable 2024..
This year was a watershed moment for India's green energy ambitions, marked by significant strides towards reshaping its energy narrative and setting a global benchmark in the transition to renewable sources...
Marking a significant milestone in India's green energy chronicle was the launch of the National Green Hydrogen Mission..
This ambitious strategy aligns with the national objective of amassing 500 GW of installed renewable energy capacity by 2030, which includes a robust thrust on wind power, aiming for a minimum of 10 GW capacity addition each year...
In a significant move to stabilize renewable power supply, the Union Cabinet sanctioned a INR 3,670 crore viability gap funding scheme for the installation of 4,000 MWh of Battery Energy Storage Systems (BESS)..
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Renewable energy investments to surge 83 pc to USD 16.5 billion in 2024
26, Dec, 23In an interview to PTI, R K Singh said, India is likely to witness 25 GW of renewable energy capacity addition entailing an investment of Rs 1,37,500 crore (about USD 16.5 billion) in 2024 calendar year, which would be higher than 13.5 GW with an investment of Rs 74,250 crore (nearly USD 9 billion) seen in 2023.
Adani Green Energy share price up 4% - two factors behind the rally
14, Feb, 24The recent surge in the stock can be attributed to two key factors: the upward revision by Moody's and the operationalization of a 51 MW solar capacity in Gujarat.
KKR’s IndiGrid acquires Virescent for ₹4,000 cr
12, May, 23India Grid Trust, backed by KKR & Co., will acquire all units of KKR-sponsored Virescent Renewable Energy Trust (VRET) for an enterprise value of INR4,000 crore ($544m). VRET is India's first renewable infrastructure investment trust (InvIT). The acquisition includes the investment manager and project manager. KKR had previously planned to sell its 77% stake in VRET with JP Morgan running the sale process. The transaction is subject to requisite regulatory and unitholder approvals.
Renewable energy boom stares at talent blackout
30, May, 23The scale of the opportunity is something that is very exciting ... but there is a lack of talent and it is one of the challenges, said Sumant Sinha, chairman and chief executive of ReNew. In the next seven years, India will have to add 60 GW of renewable energy capacity every year to meet its aspirations across power and green hydrogen, and trained manpower is needed for this, he added.
Committed to achieve 50 pc of renewable power sources ahead of 2030, says official
12, Jan, 24India aims to achieve its target of 50% renewable energy capacity by 2030, ahead of schedule. The country plans to have 485 GW of renewable energy out of a total capacity of 500 GW from non-fossil sources. Currently, renewable energy accounts for over 42% of India's total energy capacity. The renewable energy capacity has increased from 76 GW in 2014 to 180 GW at present. Another 175 GW of renewable energy capacity is under implementation.
How India became a frontrunner in the global renewable energy market
16, May, 23India has surpassed its renewable energy target of 175GW by 2022 and is expected to reach 174GW by 2023, according to a report by the International Energy Agency. The country's renewable energy capacity is projected to grow to 280 GW by 2025, accounting for 37% of the total energy supply. With favourable policies, technological advancements and foreign investment, India has made strides in the renewable energy sector, notably in solar and wind energy. The country's renewable energy success has also positively impacted greenhouse gas emissions and air quality.
India can be part of renewable power deal after terms bargain
03, Dec, 23India Business News: India's commitment to increase non-fossil power capacity by 2030, in line with the Paris Agreement, is balanced with its priority to lift millions out
Enel picks HSBC to sell India green portfolio
14, Nov, 23The portfolio of Enel Green Power India comprises 760MW of operational wind and solar power assets and a development pipeline of 2GW
Explainer: How India can step up clean power to achieve 2/3rd of its capacity in renewable sector
12, Jun, 23By 2032, India plans to have two-third of its power capacity in the renewable sector.
India to add 80 GW coal-fuelled power generation capacity by 2031-32
22, Nov, 23This dependence on coal comes amid India's ambitious renewable energy goals