Economic Times : Renewable Energy News

1. NIIF-owned Ayana Renewable Power gets high five from bidders

   The bids were submitted after allowing time to the suitors to conduct a limited due diligence that included access to some data and confidential financial information.

2. First Solar posts higher quarterly profit on strong demand

   The U.S. solar market has seen significant momentum since last year, helped by regulatory steps such as the Biden administration's 2022 Inflation Reduction Act, which provides tax credits for panels made in the United States.

3. Tata Power Renewable signs PPA for 460 MW FDRE project with SJVN

   This project is set to integrate solar, wind, and battery storage technologies to deliver continuous power, especially during peak demand hours.

4. Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses

   The sale of energy increased 47 per cent year-on-year to 21,806 million units in FY24, primarily backed by strong capacity addition, consistent solar CUF (capacity utilisation factor) and improved wind and hybrid CUF.

5. Six Adani firms get SEBI show cause notice

   The firms said there is no material non-compliance with applicable laws and regulations and no material consequential effect.

6. Gujarat Toolroom acquires 65-acre land for Rs 570-cr hybrid energy project

   The company has acquired 65 acres of land on long-term lease in Gujarat for the establishment of Green Energy Hybrid Power Plant Project worth Rs 5.72 billion, it said.

7. ADB open to funding space sector in India: VP Bhargav Dasgupta

   Last month, the government notified amendments to the foreign direct investment policy in the space sector to attract offshore investors in satellite manufacturing and satellite launch vehicles segments.

8. First Solar posts higher quarterly profit on strong demand

   The U.S. solar market has seen significant momentum since last year, helped by regulatory steps such as the Biden administration's 2022 Inflation Reduction Act, which provides tax credits for panels made in the United States.

9. India, Nigeria to increase cooperation in energy, UPI, local currency settlement to enhance economic ties

   The Indian delegation consisted of officials from Reserve Bank of India (RBI), EXIM Bank of India and National Payments Corporation of India (NPCI), the ministry said in a statement.

10. Toyota establishes H2HQ in California to promote fuel cell technology

    H2HQ will drive North American-led hydrogen initiatives and support the localization of global hydrogen-related technologies and products that include light-duty fuel cell applications, heavy-duty fuel cell opportunities, stationary fuel cell power generation, port vehicle applications and more.

11. Impact investor LeapFrog planning investments in Energy, Mobility, Agri and Built Environment

    The focus is part of a larger strategy to support businesses that provide for low-income emerging consumers and at the same time gain from the emergence of the "green discount" in some sectors and geographies.

12. India eyes 5 million tonne of green hydrogen by 2030 with new technologies

    The Hydrogen Technology Expo in Delhi brought together industry experts to explore how the country can modernize production and scale up green hydrogen applications.

13. Wind energy giant Vestas swings to loss, sees geopolitical headwinds

    Revenue fell 5.2 percent to 2.68 billion euros in the first three months of the year, compared to the same period a year earlier.

14. Adani Enterprises Q4 net falls 37 pc; incubating businesses show strong momentum

    The firm, which incubates business from airports to data centres, reported an 8 per cent decline in EBITDA (earnings before interest, taxes, depreciation, and amortization) at Rs 3,646 crore in Q4.

15. Renewable energy accounts for 71% of India's power capacity additions in FY24: Report

    The country’s total installed energy capacity now stands at 442 GW, with 144 GW (33%) from renewable energy, and 47 GW (11%) from hydroelectric power. The share of coal and lignite fell below 50% for the first time.