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.
Cleantech Investments
Indian Government Allocates $2.4 Billion Incentive Scheme For Solar Module Manufacturing
The Indian government has approved extension an incentive scheme to boost solar module manufacturing. The Cabinet approved a budget of $2.4 billion for companies looking to set up polysilicon to module manufacturing facilities. The production linked incentive scheme is expected to support 65 gigawatts of module production capacity over the next few years.
Reliance Industries Acquires US-based Software Firm SenseHawk
Reliance Industries has acquired a 79.4% stake in California-based software developer SenseHawk for $32 million. SenseHawk provides a digital platform to help companies implement solar power projects more efficiently through automation. Reliance has set a plan to facilitate the development of 100 gigawatts of solar power capacity by the end of this decade and has made several acquisitions in the recent past towards achievement of this goal, including EPC company Sterling & Wilson and module manufacturer REC Corporation.
Adani Group To Invest $70 Billion In Renewable Energy Gigafactories
Indian conglomerate Adani Group has announced plans to invest $70 billion to set up large-scale production facilities for solar modules, wind turbines, and electrolyzers. Adani currently has a portfolio of 20 gigawatts of renewable energy and aims to add another 25 gigawatts by the end of this decade. It also plans to produce 300 million tonnes of green hydrogen.
KKR To Invest $450 Million In Hero Future Energies
Global private equity firm KKR will invest $450 million in Indian renewable energy project developer Hero Future Energies. Through this transaction KKR will expand its footprint in India’s renewable energy sector. KKR operates Virescent, an infrastructure investment trust. Hero Future Energies has a renewable energy portfolio of 1.6 gigawatts capacity and is looking to enter the battery storage and electrolyzers market.
Renewable Energy & Storage
Amazon Announces 420 Megawatts Of Solar Power Projects
Amazon India has announced that it signed agreements with three renewable energy companies to procure 420 megawatts of solar power. ReNew Power, AMP Energy, and Brookfield Renewable will set up solar power projects in the north-western state of Rajasthan. ReNew Power will set up 210 megawatts of capacity, Brookfield 110 megawatts, and AMP Energy 100 megawatts. All three projects are expected to be operational by end of next year.
Azure Power Signs 600 Megawatt Modules Deal With First Solar
NYSE-listed Indian renewable energy developer Azure Power has signed a deal to procure solar modules equivalent to 600 megawatts from First Solar. With this deal Azure Power has become the first customer of First Solar’s Indian manufacturing unit. First Solar is expected to commission its module production facility in the southern Indian state of Tamil Nadu by H2 2023 and will supply modules to Azure Power between 2023 and 2025.
Adani Green Energy Commissions 600 Megawatt Wind-Solar Hybrid Project
Adani Green Energy has announced that it commissioned a 600 megawatt solar power project in the north-western state of Rajasthan. The project is part of a 750 megawatt solar-wind hybrid project that includes a 150 megawatt wind power project. With this project commissioned, Adani Green Energy’s installed capacity has increased to 6.7 gigawatts, including 1 gigawatts of hybrid capacity. Adani Green Energy’s portfolio now stands at 20.4 gigawatts.
GE Wins 218 Megawatt Wind Turbine Order From Continuum Green Energy
GE Renewable Energy has announced that it secured an order to supply 81 wind turbines to Continuum Green Energy. The turbines will be installed at different projects in Madhya Pradesh and Tamil Nadu. Continuum Green Energy had given an order to GE last year for the supply and installation of turbines equivalent to 248 megawatts.
Tata Power Awarded 100 Megawatt Solar Power Project
SJVN, a government-owned hydropower generation company, has awarded a 100 megawatt solar power project to Tata Power Solar. The project will be set up at a solar power park in the western state of Gujarat. Tata Power Solar is responsible for engineering, procurement, and commissioning of the project. Total cost of the project is estimated at $77 million. SJVN has set a target to expand its solar and wind energy capacity to 5 gigawatts by 2023, 12 gigawatts by 2030, and 25 gigawatts by 2040.
AMP Energy, Websol Partner For Solar Module Manufacturing
Indian renewable energy project developer AMP Energy has announced a joint venture with Websol Energy Systems to manufacture solar cells and modules. The production will be undertaken at Websol’s existing facility in the state of West Bengal. The two companies have agreed to produce 1.2 gigawatts of monocrystalline solar cells and modules. AMP Energy has a renewable energy portfolio of over 2 gigawatts spread across 15 states.
Serentica Renewables Announces 1.5 Gigawatt Solar/Wind Hybrid Target
Renewable energy project developer Serentica Renewables has announced a target to set up 1.5 gigawatts of solar/wind hybrid capacity. Around 600 megawatts of this capacity will be used to supply ’round-the-clock’ renewable energy to Vedanta Group. The projects will be commissioned across multiple states including Karnataka, Rajasthan, and Maharashtra. The company plans to set up 5 gigawatts of renewable energy capacity over the next few years.
SECI Issues Tender For 2.25 Gigawatts Of ‘Round-The-Clock’ Renewable Energy
The Solar Energy Corporation of India has issued the third ’round-the-clock’ renewable energy tender. SECI has invited tenders to procure 2.25 gigawatts of renewable energy. Winning developers will be required to complement solar and wind energy projects with energy storage to provide dispatchable renewable energy. SECI will enter a 25-year power purchase agreement with the winning bidders.
Reliance Industries Plans Foray Into Offshore Wind Energy
According to media reports, Reliance Industries is looking to enter the offshore wind energy business. The company is expected to set up a 5 megawatt offshore wind energy project for its own consumption. It is likely to expand this capacity in the near future. The news comes weeks after the Ministry of New and Renewable Energy announced a plan to set up around 30 gigawatts of offshore wind energy capacity by the end of this decade.
Suzlon Energy Wins 180 Megawatt Wind Turbine Order
One of India’s largest wind turbine manufacturers, Suzlon Energy, has announced that it secured an order to supply and install 86 units of its 2.1 megawatt hybrid lattice tubular turbine. The order has been placed by Green Infra Wind Energy. Total capacity of the project is 180.6 megawatts and will be located in the southern state of Karnataka. The project is likely to be commissioned in 2024.
Originally published on Future Trends.
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