Solar Financial News

solar power and electric vehicles this year is smashing the forecasts of the most bullish analysts, giving hope they are on the net-zero path the world needs. If only the same could be said of other forms of clean energy. Take photovoltaic panels. Solar modules last month hit a record low 16.5 cents per watt, according to BloombergNEF, and will slump further to 14.5 cents by the end of the year.

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Home-grown renewable energy investor Lighthouse Infrastructure is preparing to raise more than $400 million for its energy transition strategy, scouring the country for more solar and wind power assets.

solar capacity will double to 1,000 gigawatts (GW) by the end of 2026 as the world's second-largest economy continues to ramp up investment in renewables, energy research firm Rystad Energy wrote in a note published on Monday. Beijing had set a goal of boosting the country's installed capacity of wind and solar power to more than 1,200 GW by 2030. China had installed 365 GW of wind power capacity and 392 GW of solar capacity by the end of last year — about a third of the world's total.

Oriana Power Ltd. announced on Monday the acquisition of two significant orders, totaling Rs 134.6 crore, for the establishment of solar capacities in Karnataka and Rajasthan. The first order, valued at Rs 100.2 crore, represents an engineering, procurement, and construction (EPC) contract obtained from a steel company.

Tata Power Renewable Energy Limited (TPREL), has raised $425 million in financing from the U.S. International Development Finance Corporation’s (DFC) Board of Directors for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India. TPREL is a subsidiary of The Tata Power Company Limited, an integrated power company.

SJVN shares jumped 10.5% to hit a 52-week high of Rs 70.7 in Monday's trade on BSE after the company's subsidiary SJVN Green Energy (SGEL) signed a power purchase agreement with Bhakra Beas Management Board (BBMB) to develop an 18 MW solar power project. «The project will be developed on the land parcels of BBMB in the states of Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024,» the company said in an exchange filing. The project has been secured through open competitive bidding at a tariff of Rs 2.63/- in the e-reverse auction organized by the Punjab Energy Development Agency, SJVN said. The project will generate 39.42 million units of energy in the first year of operation, and the cumulative energy generation over a period of 25 years would be about 917 million units, the company added. The Power Purchase Agreement for the power produced from the project has been signed with BBMB for 25 years. SJVN plans to install over 10,000 MW renewable energy capacity in three years while progressing towards its shared vision of becoming a company of 25000 MW by 2030 and 50000 MW by 2040, the company said. At 10.18 am, the scrip was trading 8.8% higher at Rs 69.6 on BSE.

₹300 crore over 3-4 years to expand its Sri City manufacturing unit in Andhra Pradesh to achieve its exports targets, the company’s management said in a press briefing. “We have already invested ₹300 crore in our new Sri factory.

Voters in a southern Swiss region are casting their ballots to decide whether to allow large solar parks on their sun-baked Alpine mountainsides as part of the federal government’s push to develop renewable energies

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SJVN Ltd has signed an agreement with Bhakra Beas Management Board (BBMB) to set up an 18 megawatt (MW) solar power project at an investment of Rs 90 crore. Both entities signed a power purchase agreement (PPA) in this regard on Friday, SJVN said in a statement. SJVN, through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL), signed a PPA for 25 years with BBMB for 18 MW solar power.

Access to electricity remains a major challenge for over half a billion people in sub-Saharan Africa, and power outages are common even for those who are hooked up to the grid

Energy investment in Africa needs to more than double by the end of the decade if the continent is to meet its energy and climate goals. However, high costs are putting off much-needed investment in the region’s plentiful clean-energy resources and huge reserves of critical minerals, the International Energy Agency said. “African countries have huge energy potential, including a spectacular range and quality of renewable-energy resources," said Fatih Birol, executive director of the Paris-based agency in a report published jointly with the African Development Bank on Wednesday.

Tata Power Renewable Energy Ltd (TPREL) will set up a 12 megawatt (MW) on-site solar project at Tata Motors' commercial vehicle manufacturing facility in Maharashtra. In a statement, TPREL said it has already signed a power purchase agreement (PPA) with Tata Motors in this regard. «Tata Motors and Tata Power Renewable Energy Limited (TPREL) have entered into a PPA to develop a new 12MWp on-site solar project at Tata Motors' commercial vehicle manufacturing facility in Pune,» the statement said. The project will generate 17.5 million units of electricity per annum mitigating over 12,400 tonnes of Co2 per annum. «Signing of 12MWp PPA with Tata Motors underlines our critical step forward on the shared goals for a sustainable future.

Indian Space Research Organisation by offering deep space communication services and aiding ISRO in validating critical new flight dynamics software. The ESA said that it is impossible to get any scientific data from a spacecraft without ground station support because communication is an essential part of every space mission, according to a report published by the news agency PTI.

climate change, the more we know about the sun’s behaviour, the better it will be for everyone. Science gave us the industrial emissions that threaten us. It may yet offer us new ways to tackle today’s crisis of global warming.

Spaceweather.com. Two coronal mass ejections (CME) are expected to hit the Earth, said the report. “One CME is definitely heading for Earth, and there might be two.

Aditya-L1 spacecraft's orbit is scheduled at around 11:45 am today, Sunday, September 3, said the Indian Space Research Organization (ISRO) in a post in X (formerly Twitter). “Aditya-L1 started generating the power. The solar panels are deployed.

The core of VELC operations was the state-of-the-art vibration and thermotech facility located in Hoskote near Bengaluru. Here, the team conducted component-level vibrations, a crucial step in integrating detectors and optical elements. Ahead of this integration, a meticulous calibration process unfolded within a pristine cleanroom.

Following its take-off at noon from the spaceport at the Satish Dhawan Space Centre in Sriharikota, the satellite successfully separated from the launch vehicle a while later. Soon after, Isro chief S Somanath confirmed that the satellite had been “injected in an elliptical orbit and is on its way to the Sun on its four-month long journey”.

Aditya L1 — Nigar Shaji, the director of the project, said on Saturday that it was like a dream coming true. ET's Aditiya-L1 mission: Watch all the developments here Speaking on Saturday, Shaji said, «It feels like a dream coming true. I am extremely happy that Aditya L-1 has been injected successfully (into the designated orbit) by the PSLV.