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News Article | March 1, 2017
Site: cleantechnica.com

Tata Power Solar, part of one of the most reputed industrial conglomerates, has achieved a significant milestone that no other Indian solar module manufacturer has achieved. Tata Power Solar recently announced that it became the first Indian manufacturer to have shipped out 1 gigawatt of solar power modules. The company has seen rapid expansion and growth in production as well as exports over the last few years. Found in 1989 as Tata BP Solar, the company set up it first manufacturing unit in 1991 with a minuscule capacity of 3 megawatts. In 2000, the company achieved Rs 100 crore in sales and also became the first company to upgrade cell manufacturing with a plasma-enhanced vapour deposition system. In 2001, the company achieved Rs 100 crore sales from exports, which increased to Rs 300 crore in 2004. Tata BP Solar increased solar cell manufacturing capacity to 52 megawatts in 2007 and to 84 megawatts in 2009. In 2011, Tata Power Solar became a subsidiary of the Tata Group, following the exit of BP from the joint venture. After that, the company expanded its operations as well as EPC services rapidly to match the expansion in the Indian solar power market. In 2012, the company increased its module manufacturing capacity to 200 megawatts. It also commissioned the world’s largest rooftop solar power project of 12 megawatts of capacity the same year. Last year, the company commissioned a 100 megawatt solar PV project at NTPC’s Anantapur solar power park. The project is the largest solar power project to use Indian-made solar power modules. Tata Power Solar remains one of the largest solar cell and module manufacturing companies in India. As of 31 December 2016, the company had solar cell production capacity of 300 megawatts and solar module manufacturing capacity of 400 megawatts. Buy a cool T-shirt or mug in the CleanTechnica store!   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech daily newsletter or weekly newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.


News Article | April 25, 2016
Site: cleantechnica.com

Indian public sector companies could soon unleash a flurry of green bonds with a target to raise funding to expand the renewable energy infrastructure in the country. The long list of Indian companies planning rupee-denominated green bonds include Power Finance Corporation, NTPC, Neyveli Lignite, PTC India, and Rural Electrification Corporation. The masala bonds (as rupee-denominated bonds are commonly referred) will be listed in the UK, possibly on the London Stock Exchange. Piyush Goyal, Minister of Power, said that these bonds are likely to have small sizes of $150-200 million, and have tenors of 5 to 7 years. India has set a target of having an installed renewable energy capacity of 175 GW by March 2022, including 100 GW of solar power and 75 GW of wind energy capacity. Understandably, such a huge target will require monumental funding efforts. As a result, the Indian government has directed public sector companies to raise funds through green bonds. Indian companies can raise funding at very cheap rates compared to the prevailing interest rates in the country, despite the recent fall in rates. Several Indian banks are also expected to raise funding through green bonds. The Ministry of New and Renewable Energy recently announced that Indian banks and non-banking financial institutions sanctioned Rs 71,200 crore (over $10 billion) as debt finance to renewable energy projects since February 2015. Most of this finance has been approved for solar power projects. Of the total amount sanctioned, Rs 29,500 crore ($4.4 billion) has already been disbursed. Banks and financial institutions have committed to provide finance for 76,352 MW of renewable energy capacity. The total amount committed by the 40 participating entities was Rs 382,255 crore (US$57.2 billion).   Drive an electric car? Complete one of our short surveys for our next electric car report.   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.  


News Article | November 25, 2016
Site: cleantechnica.com

After China, India is the only developing country in the top 10 labeled green bonds market in terms of issuance, a recent report by the Climate Bonds Initiative notes. The cumulative issuance of labelled green bonds in India this year stood at $2.7 billion up to early October 2016, which makes it the 7th largest issuer globally. Climate Bond Initiative also notes the best practices being followed by various Indian companies as well as government institutions. Five of the seven bonds issued in India this year were either certified or reviewed by external auditors. Green bonds issued by Hero Future Energies, Axis Bank, ReNew Power Ventures, and NTPC were certified against Climate Bonds Standard. These green bonds raised a total of US$915 million. A $500 million issue by Greenko Energy Holdings was reviewed by Sustainalytics. Climate Bond Initiatives also notes that India is the only country, apart from China, to have issued national-level guidelines for issuance and listing of green bonds at stock exchanges. Earlier this year, the Securities and Exchange Board of India (SEBI) issued final guidelines on the issuance of green bonds. The Board has not stated a blanket definition of green bonds and will specify it ‘from time to time’. The Board made optional the requirement for independent third party reviewer/certifier/validator, for reviewing/certifying/validating the pre-­issuance and post-issuance process, including project evaluation and selection criteria. However, it will be mandatory for the issuer to make disclosures including use of proceeds, list of projects to which Green Bond proceeds have been allocated, etc., in the annual report/periodical filings made to the stock exchanges. The green bonds market in India was first tapped by private sector banks in early 2015. However, now public sector entities are also looking to significantly increase their issuance through masala bonds. The long list of Indian companies planning rupee-denominated green bonds include Power Finance Corporation, NTPC, Neyveli Lignite, PTC India, and Rural Electrification Corporation. The masala bonds (as rupee-denominated bonds are commonly referred) will be listed in the UK, possibly on the London Stock Exchange. Piyush Goyal, Minister of Power, said that these bonds are likely to have small sizes of $150-200 million, and have tenors of 5 to 7 years. Buy a cool T-shirt or mug in the CleanTechnica store!   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech daily newsletter or weekly newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.


News Article | November 17, 2016
Site: cleantechnica.com

The Indian government will soon launch an equity fund to push renewable energy investment. According to media reports, the Indian government is planning to launch an equity fund worth $2 billion to boost renewable energy development. The initial funding of $1 billion will be available starting next financial year, April 2017. The Clean Energy Equity Fund (CEEF) will see contributions from the central government as well as some state-owned companies. Around $600 million will be contributed from the National Investment and Infrastructure Fund, under the Ministry of Finance, with the balance contributed by state-owned companies NTPC Limited, Rural Electrification Corporation and Indian Renewable Energy Development Agency (IREDA). These companies, and several others, have already raised several million dollars through green bond issues which might be directed to the CEEF. The government is expected to tap foreign investors to further increase the size of the fund. Pension and insurance funds will be targeted for this fund expansion. The Indian government is looking to raise funds from as many sources as possible. It has tapped the green bonds market, international development banks and national banks and financial institutions. India has set a target to have installed renewable energy capacity of 175 GW, including 100 GW solar power and 60 GW wind energy capacity. Buy a cool T-shirt or mug in the CleanTechnica store!   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech daily newsletter or weekly newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.


News Article | December 23, 2016
Site: cleantechnica.com

NTPC Limited, the largest power generation company in India, has finally entered the country’s largest renewable energy sector. NTPC Limited recently announced that it will set up its first wind energy project after months of an aggressive and continued push into the solar power market. According to the company, a 50 megawatt (MW) wind energy project will be set up in the western state of Gujarat. The project shall be executed by Inox Wind Energy Limited. The project is expected to require a total investment of Rs 323.35 crore. So far, NTPC has been pushing for solar power projects and has perhaps the largest solar power capacity addition target in India. NTPC will serve as the cornerstone of India’s ultra mega solar power projects programme. India plans to add up to 40 gigawatts of solar power capacity through this programme up setting up solar power parks of capacity up to 4 gigawatts each. Auctions for several such solar power parks has already begun and a number of developers have commissioned large-scale projects as well. Being a government-owned entity, NTPC should have little to no problem in selling the power generated from the wind energy project. Several private companies that own wind energy projects have complained about the poor off-take of power by utilities due to higher tariffs of wind power. Buy a cool T-shirt or mug in the CleanTechnica store!   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech daily newsletter or weekly newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.


News Article | March 14, 2016
Site: cleantechnica.com

Another government-owned company in India has announced grand plans to increase investment in the renewable energy sector. Following a government push to increase investment in renewable energy and meet renewable energy procurement targets, the National Aluminium Company Limited (NALCO) has announced plans to invest Rs 700 crore (over $100 million) towards development and implementation of renewable energy projects this year. The company already has some renewable energy assets, mostly in the form of wind energy projects, and is now planning to add utility-scale as well as rooftop solar power projects to increase the share of renewable energy in its electricity consumption. NALCO currently has an operational wind energy capacity of 98 MW from wind energy projects in the states of Rajasthan and Andhra Pradesh. The company is reportedly planning to set up two more large-scale wind energy projects. It also operates 260 kW of rooftop solar power capacity at its corporate office in the state of Odisha. The company, like many other public-sector companies in the country, is looking to develop large-scale solar power projects. Electricity generated from these projects will be accounted for against the Renewable Purchase Obligation mandated by the government. India aims to have at least 15% of its total electricity consumption coming from renewable energy sources by 2022, including 8% from solar energy only. The Indian government has directed several public sector companies and entities, like Coal India, the Indian Railways, the Indian armed forces, Neyveli Lignite Corporation, NTPC, NHPC, and several others, to contribute towards the solar power capacity target of 100 GW by March 2022 and also meet its renewable energy procurement targets.   Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.”   Come attend CleanTechnica’s 1st “Cleantech Revolution Tour” event → in Berlin, Germany, April 9–10.   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.  


News Article | April 14, 2016
Site: cleantechnica.com

Officials at the Indian Ministry of New and Renewable Energy are ‘very confident’ of achieving the ambitious target to add 12 GW solar power capacity in the current financial year – April 2016 to March 2017. India plans to have 100 GW of operational solar power capacity by March 2022 and has, thus, announced ambitious annual capacity addition targets. The current installed solar power capacity in India stands at just over 5 GW. India added 3 GW solar power capacity in the previous financial year, against a target of 2 GW. Thus, the ministry officials are quite optimistic of achieving even higher targets. India’s solar power pipeline remains extremely strong, with several gigawatts of capacity under various stages of development. Scores of large-scale power projects were auctioned last year under the central government as well as state-level policies. A number of states have lined up large solar power auctions over the next few months. Additionally, the central government will soon initiate the process of auctioning ultra mega solar power projects that represent a cumulative capacity of around 20 GW. Some of the states likely to see sharp increases in installed capacity this year include Telangana, Punjab, Rajasthan, Madhya Pradesh, and Uttar Pradesh. A bulk of the capacity is expected to be added through central government policies and programs being executed by public sector companies like NTPC Limited.   Drive an electric car? Complete one of our short surveys for our next electric car report.   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.  


News Article | January 29, 2016
Site: cleantechnica.com

India’s largest power generating company, NTPC Limited, is on an expansive spree to launch solar power tenders under the country’s National Solar Mission. Yet another large-scale solar power tender has been launched by NTPC Limited to set up a solar power park in the southern Indian state of Karnataka. The tender will involve allocation of six solar power projects with 125 MW capacity each. NTPC has successfully allocated projects in several large-scale solar power parks in the states of Andhra Pradesh, Telangana and most recently, Rajasthan. All these tenders are part of the National Solar Mission. The last three auctions by NTPC – two in Andhra Pradesh and one in Rajasthan – have brought down solar power tariffs to record low levels. An auction of 500 MW capacity in Andhra Pradesh, results for which were announced in early November 2015, saw SunEdison secure the entire capacity at a historic low tariff of Rs 4.63/kWh (US¢6.91/kWh). A month later, SB Energy (a three-way joint venture company between SoftBank, Foxconn, and Bharti Enterprises) matched this tariff to secure part of the 350 MW capacity on offer. Earlier this year, NTPC announced results of yet another tender where 420 MW capacity was on offer. The solar power park is set to come up in the north-western state of Rajasthan. Another foreign project developer pushed the tariff to fresh low of Rs 4.34/kWh (US¢6.5/kWh). A number of these solar power parks are part of India’s ultra mega solar power programme wherein over 2 dozen solar power projects will be set up across various states. The combined installed capacity of these projects will be around 20 GW. The programme is critical to India’s target to have 100 GW of operational solar power capacity by March 2022.   Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.”   Come attend CleanTechnica’s 1st “Cleantech Revolution Tour” event → in Berlin, Germany, April 9–10.   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.  


Ecoppia, the world-leading developer of robotic, water-free photovoltaic solar panel cleaning solutions, announced today an agreement with Solairedirect India, subsidiary of energy multinational ENGIE Group to deploy its automated system in the 10,000-hectare, 2,255 MW Bhadla Solar Park in Jodhpur, Rajasthan India. Continuing Ecoppia's commitment to cooperation with large multinational energy conglomerates and its specific focus on the Indian market, the company's solution will be deployed on a production capacity of 168MWp out of the total 190MWp capacity. Located in a vast desert area, Bhadla Solar Park is prone to frequent dust storms, which can reduce energy generation by as much as 40% in a matter of minutes. Traditional labor-intensive, water-based panel cleaning solutions are neither cost-effective nor timely when immediate recovery from sandstorms is mission-critical to maintain LCOE. To alleviate the production loss associated with soiling and maintain panels at peak performance year-round, Engie's site in Bhadla will be cleaned nightly by Ecoppia robots. Ecoppia is the only solution able to maintain peak energy production and restore panels post-storm in just hours - without water or external electricity consumption. Moreover, when concerns about availability of water and increasing labor costs play a key role in strategic decision-making, only Ecoppia can provide clear visibility over O&M costs for a 25-year timespan. With the deployment of Ecoppia across its site, ENGIE is expected to save over 1.5 billion of liters of water, and reduce its operating expenses drastically. Cleaning over 70 million solar panels to date, leveraging experience gained working with leading energy conglomerates like Adani Power, SunEdison and NTPC, Ecoppia cooperated closely with ENGIE throughout the design and deployment process to maximize rollout efficiency and optimize return on investment. The announcement also comes on the heels of Ecoppia's recent shift of its assembly facilities to India, as well as the opening of its new Asia headquarters in Gurgaon, India. "We expect to harness Ecoppia's revolutionary cleaning system to dramatically raise output and lower costs. This type of technological breakthrough not only benefits our own business interests, but the solar energy sector as a whole," said Gaurav Sood, Managing Director of Solairedirect India. "We are proud to be one of the world's first solar energy providers to adopt Ecoppia's cutting-edge, autonomous robotic panel cleaning paradigm," he concluded. "We're proud to cooperate with forward-thinking companies like ENGIE in what is truly a true revolution in renewable energy," said Eran Meller, CEO of Ecoppia. "By ensuring cost-effective panel cleanliness on a day-to-day basis, we've created a new standard of plant output that is changing the way operators, investors and governments view the benefits of solar power," he continued. ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy's transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 154,950 people worldwide and achieved revenues of €69.9 billion in 2015. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20). Ecoppia designs and produces innovative photovoltaic panel cleaning solutions to cost-effectively maximize the performance of utility-scale installations. The company's water-free, automated technology removes dust from panels on a daily basis to ensure peak output, even in the toughest desert conditions. Privately held organization backed by prominent and experienced international investment funds, Ecoppia works with the largest energy companies globally, cleaning millions of solar panels every month. For more information about Ecoppia, please visit http://www.ecoppia.com.


News Article | January 7, 2016
Site: cleantechnica.com

With rapidly increasing interest in the solar power development market in India, companies are now looking to expand the solar cell and module manufacturing capabilities too. RenewSys India has announced that it placed an order with European companies to set up 100 MW of solar cell production in Hyderabad, India. The new production line will add to the company’s existing 30 MW capacity. The company also announced that it plans another order of 100 MW in the third quarter of 2016 and fosters plans to have an annual production capacity of 500 MW. The company will also increase the 80 MW production line for solar modules, also located in Hyderabad. The Indian government plans to have an operational solar power capacity of 100 GW by April 2022. While the majority of this capacity is expected to use low-cost imported solar modules, a significant amount of capacity will have to be set up using solar cells and modules assembled in India. Projects to be commissioned under the Domestic Content Requirement will be set up with government-owned companies and entities like the Indian Railways, Indian Armed Forces, NTPC Limited, and NHPC Limited, among others.   Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.”   Come attend CleanTechnica’s 1st “Cleantech Revolution Tour” event → in Berlin, Germany, April 9–10.   Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.  

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