India Clean Energy Newsletter (ICEN)

India’s Renewable Bids Hit 69 GW in FY2024 Despite Market Uncertainties : Report

(By Economic Times, 06 May 2024)

The utility-scale renewable energy market in India has seen a significant upturn with a record 69 GW of bids in FY2024, outpacing the government’s ambitious target of 50GW, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research. However, the report highlights substantial hurdles in converting these bids into operational energy projects.

Renewable Energy Accounted for 71% of India’s Power Generation Capacity Addition in FY24

(By Business Today, 03 May 2024)

Renewable energy (RE) sources contributed 71% of the 26 GW of power generation capacity that India added in FY24, according to the latest edition of the CEEW Centre for Energy Finance (CEEW-CEF) Market Handbook. The country’s total installed energy capacity has now reached 442 GW, of which 144 GW (33%) was RE and 47 GW (11%) came from hydroelectric.

Renewable Energy Stocks Jump Up To 500% in 1 Year; What’s Fuelling this Rise?

(By Mint, 27 April 2024)

Some renewable energy stocks, such as Inox Wind Energy and KPI Green Energy, have surged 450-500% over the last year. Some others, such as SRM Energy, SJVN, JP Power Ventures and Adani Power have jumped 200-350% in the same period. There are over 15 stocks in the renewable energy space that have jumped more than 100% in the last one year.

Indian Renewable Energy Development Agency Ltd (IREDA) Gets ‘Navratna Status’

(By CNBC, 26 April 2024)

Indian Renewable Energy Development Agency Ltd (IREDA) has been granted ‘navratna status’ by the Department of Public Enterprises. For the March quarter, IREDA’s assets under management (AUM) grew by 26.8% from last year to INR59,698 crore. Even when compared to the December quarter, the AUM growth stood at 18%.

Karnataka, Gujarat Lead India’s Clean Energy Transition Race: Report

(By Deccan Herald, 26 April 2024)

The joint report by research organisation, Institute for Energy Economics and Financial Analysis (IEEFA), and clean energy think tank Ember evaluates the clean electricity transition preparedness at the sub-national level. The report says Karnataka and Gujarat continue their strong performance across dimensions, effectively integrating renewable energy sources into their power sectors.

India’s First Multi-Purpose Green Hydrogen Pilot Project Inaugurated

(By Business Standard, 24 April 2024)

India’s first multi-purpose green hydrogen pilot project at 1,500 MW Nathpa Jhakri Hydro Power Station (NJHPS) in Himachal’s Jhakri has been inaugurated, according to Satluj Jal Vidyut Nigam (SJVN) officials. SJVN Chairman and Managing Director Geeta Kapur inaugurated a 20Nm3/hr electrolyzer and 25kW fuel cell capacity-based green hydrogen pilot project.

Indian Biogas Association Joins Hands with HAI to Promote Hydrogen

(By Economic Times, 21 April 2024)

Indian Biogas Association (IBA) has partnered with Hydrogen Association of India (HAI) to promote bio-based energy solutions with a special emphasis on green and blue hydrogen. This strategic alliance will facilitate comprehensive measures including training, capacity building, and policy advocacy directed towards catalysing the promotion and advancement of bio-based energy solutions.

How Can India Accelerate the Adoption of Green Hydrogen?

(By Financial Express, 21 April 2024)

The government should formulate a comprehensive national hydrogen policy that provides long-term visibility, regulatory certainty, and financial incentives to attract investments in green hydrogen projects. Increased funding for R&D initiatives aimed at improving electrolyser efficiency, reducing costs, and developing hydrogen storage and transport technologies will accelerate the deployment of hydrogen.

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