APT Translations

Cumulative solar module manufacturing capacity reached 64.5 GW

India is most aligned with the global objectives and decarbonization goals, it adds

The three states joined in a historic agreement that allows for potential coordinated selection of offshore wind projects.

Albanese's centre-left Labor government has been boosting spending to underwrite new wind, solar and battery projects with more than A$40 billion of investment committed since coming to power in 2022.

China is the dominant player in batteries for electric vehicles and has a rapidly expanding auto industry that could challenge the world's established carmakers as it goes global.

"500 GW we will easily surpass ahead of time. We have been surpassing a lot of NDCs (Nationally Determined Contribution) before time," the official said.

A tripling of renewable energy capacity will require conditions conducive to accelerated progress. The establishment of supporting infrastructure, robust policy frameworks and the development of institutional and human capacities are key enablers of the accelerated transition. In addition, international co-operation and scaling up finance for developing countries is a key priority.

The agreements have been signed for a JPY 15 billion loan each for NTPC Ltd and NTPC Renewables Energy Ltd (NREL), it added.

Renewable Capacity Statistics 2024 released by the International Renewable Energy Agency (IRENA) shows that 2023 set a new record in renewables deployment in the power sector by reaching a total capacity of 3 870 Gigawatts (GW) globally.

"Power Finance Corporation Ltd, Security Printing and Minting Corporation of India Ltd and Solar Energy Corporation of India Ltd are the major organisations who bought space during this e-auction," it added.