India Clean Energy Newsletter (ICEN)

India Sets Sights on Global Renewable Ammonia Market with Sustainable Energy Leadership

(By Economic Times, 26 May 2024)

India is positioning itself as a key player in the renewable ammonia market with several international trade agreements already inked and more on the horizon. The country’s ambition to produce 5 million metric tons renewable hydrogen by 2030 and secure a 10% share of the global trade by that time underscores its commitment to renewable energy.

GPS Renewables & SAF One to Build India’s First Major SAF Facility

(By Construction World, 24 May 2024)

GPS Renewables has announced a strategic partnership with Dubai-based SAF One to construct a significant Sustainable Aviation Fuel (SAF) production facility in India. This pioneering project aims to produce between 20 to 30 million liters of SAF annually using lignocellulosic waste feedstock, marking a major step forward in India’s commitment to sustainable aviation.

India Must Triple Renewable Installations, Boost Investments to Meet 2030 Goals

(By Energy World, 23 May 2024)

India must significantly accelerate its renewable energy installations to meet the ambitious target of 500 GW by 2030, according to a comprehensive study released by IEEFA and JMK Research. The investment landscape also reflects a slight downturn, with investments in the renewable sector dropping from US$11.7 billion in FY 2022-23 to US$11.4 billion in FY 2023-24.

We Need to Build a Circular Economy for India’s Renewable Energy Value Chain

(By IDR, 17 May 2024)

A recent study has estimated that, in India, approximately 100 kilo tonnes (kt) of waste has already been generated from the installed solar capacity (66.7 GW as of March 2023). This will increase six times over to approximately 600 kt by 2030 due to existing and new installations deployed between the financial years 2024–25 and 2030–31.

IEX Reports 26.4% Rise in Renewable Energy Certificate Trading

(By PV Magazine, 16 May 2024)

IEX achieved its highest ever trading volume of 110.1 billion units (BU) in FY 2024, an increase of 13.7% on YoY basis. Electricity volumes at 101.7 BU increased 12.2% YoY. Additionally, 75.39 lakh renewable energy certificates (RECs), equivalent to 7.54 BU, were traded during FY 2024, an increase of 26.4% on YoY basis.

Surge in India’s Renewables Tendering Set to Keep Coal’s Share Below 50% in Total Installed Capacity

(By IEEFA, 15 May 2024)

While there is momentum in India’s utility-scale renewable energy market with innovative tenders and high investor interest, obstacles persist, such as the 40% import duties on solar modules and the requirement for developers to purchase locally manufactured components. Despite the challenges, market stakeholders are confident the annual tendering capacity will again cross 50GW in FY2025.

India Explores Incentives to Boost Lithium Processing

(By Manufacturing Today, 10 May 2024)

India is contemplating incentives to prompt private firms to establish lithium processing plants, aiming to enhance its lithium mining sector and bolster EV battery metal supplies. Under a forthcoming critical minerals policy, the government intends to incentivize companies to set up processing facilities, encompassing beneficiation and refining stages.

The Slowdown in Renewable Capacity Addition in India: Secular Trend or Cyclical Flux?

(By ORF, 09 May 2024)

Slower growth rates in RE capacity addition could mean that the RE industry is entering a phase of maturity in its lifecycle, or input cost escalations are decelerating growth. It could also mean that regulations and resource constraints, especially land availability, are starting to bite. Moreover, when all countries are prioritising energy nationalism, the slowdown could also be the result of trade barriers.

India Overtook Japan to Become World’s 3rd Largest Solar Power Generator in 2023

(By Economic Times, 08 May 2024)

Rapid solar energy deployment in India pushed the country past Japan to become the world’s third-largest solar power generator in 2023, according to a new report. The report by global energy think tank Ember said India ranked ninth in solar energy deployment in 2015. Solar produced a record 5.5% of global electricity in 2023 and India generated 5.8% of its electricity from solar last year.

AMPIN Energy Transition Secures $35 Million Investment for Renewable Projects in India

(By Solar Quarter, 08 May 2024)

AMPIN Energy Transition has secured a significant investment from responsAbility, a Swiss-based impact asset manager. The investment is part of responsAbility’s comprehensive $500 million climate investment strategy aimed at reducing CO2 emissions in Asia. responsAbility plans to invest up to $35 million in AMPIN to enhance its renewable energy initiatives across India.

Sri Lanka Inks 20-Year Power Purchase Deal with India’s Adani Green

(By Energy World, 07 May 2024)

Sri Lanka has entered into a 20-year power purchase agreement with India’s Adani Green Energy Ltd for two wind power stations developed by the company. Adani Green Energy won the approval in February last year to invest $442 million and develop the 484 megawatts wind power plants in Mannar town and Pooneryn village, both located in the Northern province of Sri Lanka.

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