1. India achieves 50% renewable energy milestone 5 years ahead of schedule.
India has reached a key climate milestone five years ahead of schedule. The achievement comes 5 years before the set target of 2030. Pralhad Joshi, Union Minister for New and Renewable Energy, announced that India’s total installed energy capacity stands at 484.8 GW, of which 242.8 GW comes from non-fossil fuel clean energy sources.
These non-fossil fuel sources, which include nuclear, hydro, solar, etc, made up just 30% of the installed capacity in 2015 and 38% in 2020, before rising sharply over the last five years, on the back of solar & wind power. Solar energy continues to dominate India’s renewable push.
2. Government to invite private investors for commercial production of breakthrough solar cells at IIT Bombay.
The Union Minister for New and Renewable Energy Pralhad Joshi announced that the Government of India is planning to involve the private sector in the commercial production of the innovative low-cost Silicon-Perovskite Tandem Solar Cells developed at IIT Bombay. The minister toured key facilities at IIT Bombay, interacted with researchers and acknowledged the work of IIT Bombay-incubated startup ‘Advanced Renewable Tandem-Photovoltaics India (ART-PV India) that has developed the tandem solar cell with a conversion efficiency of 29.8%.
The potential for these cells to achieve around 30% efficiency, significantly surpassing conventional solar panels, could position India as a global leader in next-generation photovoltaics.
3. Tesla finally enters India. Opens first showroom and launches first car.
Tesla has officially entered the Indian market with the opening of its first showroom in Mumbai’s Bandra Kurla Complex (BKC). The Tesla ‘Experience Centre’ showcases the Tesla Model Y, a crossover electric SUV, marking the company’s debut offering in India. The Model Y Rear-Wheel Drive (RWD) variant is priced at Rs 59.89 lakh, and the Long Range RWD variant at Rs 67.89.
After Mumbai, Tesla is expected to open its next India showroom in New Delhi.
4. ACME Solar & Tata Power secure Battery Energy Storage Purchase Agreements from NHPC.
ACME Solar Holdings announced the signing of a ‘Battery Energy Storage Purchase Agreement’ (BESPA) with NHPC. The agreement with NHPC is for a total contracted capacity of 275 MW / 550 MWh in Andhra Pradesh. Expected to be commissioned within 18 months from signing, the BESS projects will help stabilize the grid by storing power during off-peak hours and discharging it during peak demand.
Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has also signed a Battery Energy Storage Purchase Agreement (BESPA) with NHPC. The agreement involves setting-up a 30 MW / 120 MWh battery energy storage system in Kerala. The project will play a vital role in addressing peak power demand, enhancing grid flexibility and enabling seamless integration of renewable energy in Kerala. It is part of NHPC’s broader initiative to develop 125 MW / 500 MWh of standalone battery storage capacity in the state of Kerala.
5. US solar panel manufacturers seek import tariffs against India & Indonesia.
A group of US-based solar panel manufacturers have asked the US Government to impose tariffs on solar imports from India, Indonesia & Laos. The petition is the latest effort by the relatively small US solar manufacturing industry to compete against solar imports. The group has succeeded previously in winning tariffs on imports from countries in South East Asia including Malaysia, Cambodia, Vietnam & Thailand.
Shares of Indian solar goods manufacturers (including Waaree Energies, Premier Energies, SW Solar, etc) went down in trade after this news.
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