APT Translations

Cumulative solar module manufacturing capacity reached 77.2 GW.

At a roundtable discussion here, Kant said that there is no shortage of global funds for clean energy, but India needs to establish strong financial systems, such as escrow accounts, to attract private investments for renewable projects.

COP29 has been dubbed a "finance COP" because rich countries most responsible for global warming are supposed to commit to substantially increasing their assistance to poorer countries for climate action.

At the FT Live Energy Transition Summit India, experts affirmed that India is on track to achieve 500 GW non-fossil fuel capacity by 2030. Tata Power and Ampin Energy plan significant clean energy expansions, while green hydrogen's cost remains a key challenge for decarbonising the steel sector.

“India will achieve full self-sufficiency in solar PV and wind and over 90% in battery cells,” said Indra Mukherjee of S&P Global Commodity Insights. The country’s rise in clean energy is being driven by policies such as the Production-Linked Incentive (PLI) scheme, as well as tariffs on imports like basic customs duties (BCD) and the goods and services tax (GST).

The planned investments include a significant capacity expansion of the large power transformers factory, an upgrade in testing capabilities for specialty transformers, and the relocation of the bushings factory.

The facility, inaugurated by Maharashtra Deputy Chief Minister Devendra Fadnavis, will focus on the entire solar value chain, including ingot-wafer, PV cells, and modules.

​“Projections indicate that India will reach 107 GW in PV modules, 20 GW in wind nacelles, 69 GWh in battery cells, and 8 gigawatts equivalent (GWe) in electrolyzers. This growth will enable India to achieve full self-sufficiency in solar PV and wind, and over 90 per cent in battery cells,” said Indra Mukherjee of S&P Global Commodity Insights.

The MoU was formally signed between the Water Resources Department, Government of Maharashtra and Avaada Aqua Batteries Pvt Ltd, a subsidiary of Avaada Group. The signing ceremony was graced by the Deputy Chief Minister of Maharashtra, Devendra Fadnavis, Avaada Group's visionary Chairman, Vineet Mittal, and other dignitaries.

Commenting on the initiative, NTPC Bongaigaon Head of Project Akhilesh Singh discussed the company's various efforts, including planting 2.5 lakh trees in the area, as part of its broader sustainable development goals.