Mumbai-based Reliance Industries acquired a 79.4 percent stake in Saratoga, CA-based solar energy software developer SenseHawk for $32 million. The acquisition is part of the conglomerate’s aggressive push into renewable energy to decarbonize its oil and chemical-dominated business. Reliance aims to produce 100 GW of solar energy by 2030. SenseHawk...
In India Solar and Wind Dominate Energy Additons
London, UK-based global energy think tank Ember launched India state RES target and progress tracker, early last year. The data tool tracks the monthly progress of Indian states and union territories against their 2022 renewable energy targets, using archive records of state-wide installed renewable energy capacity data from India’s Ministry of...
Solar Module Makers Bid for India’s $2.4 Billion Incentives
India's Reliance Industries Ltd., Tata Power Co., JSW Energy Ltd., Avaada Group are among bidders for the financial incentives that India is offering to expand domestic manufacturing and curb panel imports from dominant producer China. Tempe, AZ-based First Solar and London U.K. based ReNew Energy Global Plc, are overseas firms that are...
India’s Orb Energy Receives $20 million Loan from U.S. IDFC
Banaglore-based Orb Energy, a vertically integrated provider of solar energy solutions in India, received a $20 million follow-on loan from United States International Development Finance Corporation. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today and is an agency of...
Coal India to Invest $970 Million in Solar Energy by 2024
With the aim of diversifying into new areas and preparing for a longer-term decline in demand for fossil fuels, state-owned Coal India Ltd., targets 3 gigawatts of solar generation capacity by fiscal 2024 from a current base of about 300 megawatts under implementation. The company will invest $970 million in...
Renewable Energy Production Surges in India
For the first time, India added more production capacity from renewable energy in a year than from conventional sources such as coal. Between April 2017 and March 2018, the country added 11,788 megawatts (MW) of renewable energy capacity. That’s more than double the 5,400 MW of capacity addition in the thermal...