APT Translations

A blockbuster year for initial public offerings in India catapulted seven entrepreneurs into the dollar billionaires league, many of them early movers in the country’s booming renewable energy sector.

The Andhra Pradesh cabinet approves two engineering projects worth Rs 2,723 crore for Amaravati, including a green ammonia manufacturing facility and South India's first integrated energy project. Financial aid comes from the World Bank, HUDCO, and Germany. Other notable projects by Tata Power, RIL, and visits by PM Modi were also detailed.

The Chief Minister's comments assume significance in the backdrop of Adani being indicted by the US Department of Justice over his role in an alleged years-long scheme to pay USD 250 million bribes to Indian officials in exchange for favourable solar power contracts, including from Andhra Pradesh.

Joshi attended a consultative meeting with the consumers, electricity supply company (ESCOM) officials, and people's representatives to discuss Surya Ghar Muft Bijli Yojana here on Thursday.

India is emerging as a major exporter of solar photovoltaic (PV) cells as countries look for alternatives to China for sourcing supplies in their switch to renewable energy to fight climate change.

India has successfully reduced the emission intensity of its GDP by 36% in 2020 compared to 2005 levels, reflecting significant progress towards its climate goals. The country also reports a notable increase in cumulative renewable power installed capacity, aiming for 50% from non-fossil sources by 2030.

The project will utilize Waaree’s Glass N-type Topcon bifacial modules rated at 585/590Wp. These high-efficiency solar modules are scheduled for delivery in the financial year 2025-26, the company said.

Mumbai-based Manastu Space successfully test-fired its Vyom 2U thruster onboard the PSLV Orbital Experimental Module-4 (POEM) on New Year's Eve. The POEM-4 platform, comprising the fourth stage of the PSLV-C60 rocket that launched the SpaDeX satellites on Monday, is now in orbit at an altitude of 350 km. It will host 24 experiments from ISRO, start-ups, and institutions to advance space technologies.

State-owned Indian Renewable Energy Development Agency (IREDA) has achieved a remarkable 41% growth in loan disbursements, reaching Rs 17,236 crore in the December quarter. Loan sanctions surged by 129% Year-on-Year to Rs 31,087 crore. The outstanding loan book increased by 36%, reflecting stakeholders' growing confidence in IREDA's role in supporting green energy projects.

As India ushers in New Year, it rounded off 2024 with 214 GW installed green energy capacity, according to figures compiled by the Ministry of New and Renewable Energy, while the country is firmly on track to meet its ambitious target of achieving 500 GW energy capacity from non-fossil fuels by 2030.