Published on October 19th, 2020 |
October 19th, 2020 by Saurabh
Originally published on Future Trends.
Welcome to another issue of our new 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.
GIP Buys 306 Megawatts Of Solar Assets In India
RattanIndia Group became the latest Indian developer to have sold operational assets. Global Infrastructure Partners (GIP) acquired 306 megawatts of solar PV power projects from RattanIndia Group. The transaction is valued at close to $230 million. The portfolio includes utility-scale projects totaling 297 megawatts and 9 megawatts of rooftop solar power projects. The large-scale projects are spread across four states — Karnataka, Maharashtra, Uttar Pradesh, and Rajasthan. These projects have long-term power purchase agreements signed with government-owned companies, like Solar Energy Corporation of India and India’s largest power generator, NTPC.
India Offers US$100 Million For Solar Power Projects In Sri Lanka
The Indian government has offered a line of credit worth US$100 million to Sri Lanka for setting up solar power projects. India had committed to this line of credit in March 2018 at the International Solar Alliance Founding Conference. The funding will be used to set up rooftop solar power projects at residential and government buildings with a total capacity of 60 megawatts.
Japan’s ORIX To Invest US$980 Million In Greenko Energy
Japanese leasing and financial services company ORIX is expected to lead one of India’s largest foreign investments in the renewable energy sector. The company is planning to invest US$980 million in Greenko Energy Holdings, a leading renewable energy developer in India. According to media reports, ORIX would transfer 873 megawatts of its wind energy assets to Greenko Energy as part of the deal. ORIX had acquired these assets from Infrastructure Leasing and Financial Services (IL&FS) after the latter’s bankruptcy.
India Mulls US$4.6 Billion Incentives Package For Electric Mobility
The Indian government’s policy think tank, NITI Aayog, has proposed an incentives package worth US$4.6 billion for the electric mobility industry with a target to cut the country’s crude oil imports by US$40 billion. As per the proposal, companies could receive US$122 million in incentives for manufacturing advanced batteries starting April 2021. To further promote domestic manufacturing of batteries, it has also been proposed that import duties on these items be increased from current 5% to 15%. NITI Aayog estimates that India’s battery storage market size could increase from 50 gigawatt-hours today to 230 gigawatt-hours over the next 10 years.
Tata Motors & Hyundai Win Tender To Supply 250 Electric SUVs
Government-owned Energy Efficiency Services Limited (EESL) awarded contracts to Tata Motors and Hyundai Motor India to supply a total of 250 electric SUVs following completion of a tender process. Tata Motors will supply 150 units of its compact electric SUV Nexon, while Hyundai will deliver 100 units of its premium electric SUV Kona.
About 69,000 Electric Vehicle Charging Outlets Planned At Petrol Stations
The Indian government is planning to set up at least one electric vehicle charging outlet at each of the 69,000 petrol stations across the country. To achieve this, the government may ask public sector oil retailers to set up and operate such charging stations.
Renewable Energy & Batteries
Indian Gas Utility Plans Renewable Energy Expansion
India’s largest government-owned gas distribution company has once again expressed its intention to expand its footprint in the renewable energy sector. GAIL India, previously Gas Authority of India Limited, recently announced its ambitions to expand into new areas of operation and expand its existing renewable energy portfolio. The company has some solar and wind energy projects operational. It is now looking to expand that portfolio through organic and inorganic ways.
Indian Solar Module Manufacturer Lands US$105 Million Order
Waaree Energies reported that it has landed an order to supply 300 megawatts of solar modules from an undisclosed American solar company. These modules will be used at a project to be commissioned in California. The project is expected to be fully commissioned by late next year. The company claims to be the largest module manufacturer in India, with an annual production capacity of 2 gigawatts. It claims to have supplied 3 gigawatts of solar modules globally.
Indian Hydro Power Generator Plans To Set Up 500 Megawatt Floating Solar Project
The government-owned hydro power generation company NHPC Limited announced plans to set up a 500-megawatt floating solar power project. The company has proposed to set up the project under the Ultra Mega Renewable Energy Power Parks Scheme. The company is in discussion with Telangana State Renewable Energy Development Corporation Limited for joint implementation of the project. The company has already signed an agreement with another state to set up a 500-megawatt floating solar power project.
India Receives Solar Manufacturing Proposals For 10 Gigawatts
The Indian government has reported that various companies have submitted proposals to set up a total of 10 gigawatts of solar manufacturing capacity. Companies have shown increased interest in setting up new manufacturing facilities after the Indian government proposed levying new import duties and a policy to promote domestic manufacturing. The Indian solar power sector is heavily dependent on Chinese cells and modules. Chinese companies supplied 80% of India’s cell and module requirement in 2018-19.
Indian Railways To Set Up Rooftop Solar Power Projects At 960 Stations
Indian Railways is working to set up rooftop solar power projects at 960 railway stations across the country. According to the Ministry of Railways, contracts have been signed for setting up rooftop solar power systems at 550 stations with cumulative capacity of 198 megawatts. Apart from this, the Indian Railways also plans to utilize its surplus land to set up 20 gigawatts of utility-scale solar power projects.
Acme Cleantech Plans To Sell 4.8 Gigawatts Of Solar Power Projects
One of India’s leading solar power companies in India, Acme Cleantech Solutions, is looking to sell over 4.8 gigawatts of projects. These projects are spread across 12 states in India and have a weighted average tariff of Rs 3.55 (US¢4.83) per kilowatt-hour.
Andhra Pradesh Government Plans 10-Gigawatt Solar Power Tender
The government of state of Andhra Pradesh plans to launch India’s — and perhaps the world’s — largest solar power tender. The government will offer interested developers opportunity to set up 10 gigawatts of solar power projects to supply power to farmers. Andhra Pradesh currently has 7.7 gigawatts of solar and wind energy capacity, accounting for around 10% of the country’s total renewable energy capacity. The proposed tender will account for 14% of India’s renewable energy capacity.
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