EU Bank to Provide $1.1 Billion to Develop Green Hydrogen Hubs in India
The bank of the European Union, European Investment Bank (EIB), said it has signed a memorandum of understanding (MoU) with India Hydrogen Alliance (IH2A) to provide €1 billion (~$1.1 billion) ...
Adani Green’s Q3 Net Profit Surges 110% YoY on Hybrid Capacity Addition
Adani Green Energy (AGEL), the renewable arm of Adani Group, posted a net profit of ₹1.03 billion (~$12.4 million) for the third quarter (Q3) of the financial year (FY) 2022-23, ...
Share of Renewables in Global Power Generation Mix to Reach 35% by 2025
As the global demand for electricity is expected to grow at an average rate of 3% annually over the next three years, renewables and nuclear power would also increase to ...
SJVN’s Q3 Profit Jumps 22% to ₹2.9 Billion on Income from Equity Transfer
Government-owned power producer SJVN posted a profit of ₹2.87 billion (~$34.7 million) for the third quarter (Q3) of the financial year (FY) 2022-23, an increase of 22% year-over-year (YoY). The ...
Funding and M&A Roundup: EV Battery maker ONE raises $300 million in Series B funding
From: Mercom Capital Group Our Next Energy(ONE), an energy storage solutions company developing a hybrid system based on a cobalt-free battery and a lithium iron phosphate battery for EVs, closed ...
Daily News Wrap-Up: Exclusive Interview with Shirdi Sai Electricals COO
In an exclusive interview with Mercom India, Dr. Balachander Krishnan, Chief Operating Officer, Indosol Solar, special purpose vehicle (SPV) of Shirdi Sai Electricals, talks about the company’s progress after its ...
Scatec Posts $42 Million Loss in Q4 as Laos Projects Underperform
Norwegian independent power producer Scatec swung into a net loss of NOK 433 million (~$42 million) in the fourth quarter (Q4) of 2022, compared with a profit of NOK 136 ...
US’ Inflation Reduction Act Creates Over 100,000 Green Jobs in Six Months
Six months after the United States passed the Inflation Reduction Act (IRA) in August 2022, clean energy companies have announced more than 101,036 new green jobs in 31 states between ...
Market Regulator Issues Disclosure Norms for Issuing Green Debt Securities
Corporate entities will have to outline the process followed to determine how projects and assets fit within the eligible green project categories for issuing and listing debt securities. The Securities ...
Daily News Wrap-Up: Gujarat to Dominate India’s Planned Solar Module Capacity
As India prepares to build out its solar module manufacturing capacity, Gujarat has emerged as an overwhelmingly favorite destination for domestic manufacturers, accounting for more than half of the country’s ...
IEX Traded 347 MU of Green Energy in January 2023, Up 24% YoY
The Indian Energy Exchange (IEX) traded 347 million units (MU) of renewable energy in January 2023, an increase of 24% year-over-year (YoY). However, the volume declined by 8% month-over-month (MoM) ...
Government Implementing 330 MW Waste-to-Energy Projects
The Ministry of New and Renewable Energy (MNRE) is implementing 90 projects under its Waste to Energy (WTE) program, Union Minister of Power R.K Singh informed the Lok Sabha. These ...
India Aims at 9-Fold Jump in Public EV Charging Stations by 2030
The government aims to install a total of 46,397 public charging stations (PCS) for electric vehicles (EV) in nine major cities by the end of the decade. The information was ...
Adani Enterprises to Return Abu-Dhabi-Based IHC’s $400 Million Investment
(This article updates the previous story from January 31, 2023, to include Adani's announcement of FPO withdrawal) Adani Enterprises will return the recently announced investment of AED 1.4 billion (~$400 ...
Daily News Wrap-Up: Underground Transmission Lines Proposed in GIB Area
The Central Electricity Authority (CEA) has proposed that power transmission lines of up to 33 kV voltage level passing through the Great Indian Bustard (GIB) area should be underground lines ...
Greenko to Source 28 Units of 5 MW Electrolyzers for Green Ammonia Plant
Hyderabad-headquartered Greenko Group has entered into a partnership with Belgium-based engineering company John Cockerill for the supply of 140 MW alkaline electrolyzers for large-scale applications. The electrolyzers will be used ...
TotalEnergies Sells Half of $300 Million Renewables Portfolio
France-based energy conglomerate TotalEnergies said it has sold 50% of a 234 MW portfolio of renewable projects to insurance group Crédit Agricole Assurances. The company said that the transaction implied ...
West African States Kick Off $311 Million Project to Boost Renewables
The new Regional Emergency Solar Power Intervention Project (RESPITE) has commenced operations in Freetown, Sierra Leone, to expand electricity access to millions of consumers in Chad, Liberia, Sierra Leone, and ...
Renewable Industry Says Budget Proposals Will Expedite India’s Energy Transition
Renewable energy and green mobility sector stakeholders have welcomed the Budget 2023 proposals laid out by Union Finance Minister Nirmala Sitharaman. The allocation for capital expenditure, an emphasis on improving ...
Daily News Wrap-Up: BIS Certification Deadline for Solar Inverters Extended to June 30
The Ministry of New and Renewable Energy has extended the deadline for compliance with and implementation of the Quality Control Order, 2017, for solar photovoltaic inverters until June 30, 2023 ...
DISCOMs Owed ₹329 Billion to Power Generators as of January 2023
Distribution companies (DISCOMs) owed power generators ₹329.72 billion (~$4 billion) in overdue payments for the monthly billing cycle at the end of January, according to Ministry of Power data. The ...
EU Seeks to Counter US and China with a €250 Billion Green Deal Industrial Plan
The European Commission has published the Green Deal Industrial Plan based on the idea of developing a ‘Single Market,’ which will utilize €250 billion (~$274.96 billion) of existing EU funds ...
Siemens Gamesa’s Q1 Net Loss Widens to €884 Million on Higher Service Costs
Spain-based wind turbine maker Siemens Gamesa’s net loss widened to €884 million (~$971.9 million) for the first quarter (Q1) of the financial year (FY) 2023 compared to €403 million (~$443.2 ...
Wind Developer Orsted Swings to $48.2 Million Loss in Q4 Due to Project Delays
Denmark-based wind developer Orsted swung into a loss of DKK 329 million (~$48.19 million) in the fourth quarter (Q4) of the financial year (FY) 2022, compared with a net profit ...
Month in a Minute: Top Headlines from Indian Renewable Sector in January 2023
Here is a recap of important headlines from January 2023: India's solar photovoltaic (PV) module manufacturing capacity exceeded 39 GW at the end of September 2022 and is expected to reach ~95 ...
