This week’s solar news wrap includes, India added 601 MW renewable power, low-cost capital to fuel green energy projects, Renewable energy investment rose, Indonesia starts construction on region’s largest floating solar plant, CESL signs MoU with BSES for new Energy Transition Program
India added 601 megawatt of commercial and industrial renewable power generation capacity in the first quarter of 2021
Renewable energy consultancy firm Bridge to India in its recent report said that India added 601 megawatt (MW) of commercial and industrial renewable power generation capacity in the first quarter (Q1) of 2021 to reach 17,817 MW by 31 March 2021. This was up 20 per cent quarter-on-quarter. The total commercial and industrial renewable capacity is estimated to have reached 17,817 MW by 31 March 2021, said the firm in its quarterly report titled India Corporate Renewable Brief.
India needs low-cost capital to fuel green energy projects said Niti Aayog CEO Amitabh Kant
India needs low-cost capital to help domestic entrepreneurs execute global scale projects in areas like green hydrogen, solar energy, electric vehicles and battery manufacturing, Niti Aayog CEO Amitabh Kant said on Friday, adding that there is a need to build a sustainable country. Addressing a virtual event organised by the Centre for Social and Economic Progress (CSEP), Kant further said India is in a very unique position in hydrogen and it should be moving towards green hydrogen in the oil refining and fertiliser sectors.
Indonesia starts construction on region’s largest floating solar plant
Indonesia will begin work on a 145 megawatt floating solar power project, the largest in Southeast Asia, after state power utility Perusahaan Listrik Negara and Masdar of United Arab Emirates agreed to finance for the project. Indonesia aims to have 23 per cent of its energy from renewable sources by 2025 and the government has said the country will try to reach net zero emissions by 2060 by moving away from coal.
Renewable energy investment rose to a record in first half says Bloomberg New Energy Finance
Investors poured more money than ever into renewable energy in the first half of the year, but the pace is far from enough to sufficiently curb increasing carbon emissions. As much as $174 billion was spent on solar, offshore wind and other green technologies and companies in the period, according to data from Bloomberg NEF. While it’s 1.8% more than a year earlier, the level is 7% below the previous six months.
CESL signs MoU with BSES for new Energy Transition Program
Convergence Energy Services Limited, a wholly-owned subsidiary of Energy Efficiency Services Limited signed a Memorandum of Understanding with B S E S, Delhi. By entering into this M o U, the utility agrees to assume leadership positions to join a pilot engagement with CESL as the company works to design energy transition solutions. Specifically, the utility agrees to undertake feasibility studies and cost-benefit analyses for distributed solar projects operated with battery energy storage. The MoU was signed in the presence of Aniruddha Kumar, Additional Secretary, Ministry of New and Renewable Energy (MNRE), Saurabh Kumar, Executive Vice Chairperson, EESL Group and Mahua Acharya, MD & CEO, CESL.