India's Renewable Energy Sector Surges
POWER & RENEWABLE ENERGY

India's Renewable Energy Sector Surges

India's renewable energy sector has achieved unprecedented growth in fiscal year 2024, with a significant increase in capacity additions, primarily driven by solar power installations. According to recent reports, the country has witnessed a remarkable surge in renewable energy infrastructure, marking a pivotal moment in its transition towards sustainable energy sources.

Key stakeholders and industry experts attribute this remarkable growth to several factors, including favourable government policies, declining solar tariffs, technological advancements, and increasing awareness of environmental sustainability. The robust expansion of solar power capacity has emerged as a cornerstone of India's renewable energy landscape, reaffirming its commitment to combating climate change and reducing carbon emissions.

The renewable energy sector's exceptional performance in FY24 underscores India's growing significance as a global leader in renewable energy adoption and implementation. With the government's ambitious targets and proactive measures to promote clean energy initiatives, the country is poised to accelerate its transition towards a low-carbon economy and achieve its renewable energy goals.

Investments in renewable energy projects have also been on the rise, with both domestic and international investors showing keen interest in India's burgeoning clean energy market. This influx of investments not only drives economic growth but also creates employment opportunities and fosters innovation in the renewable energy sector.

As India continues to ramp up its renewable energy capacity, it is poised to reap the socio-economic benefits of a sustainable energy ecosystem while mitigating the adverse effects of fossil fuel dependency. The momentum gained in FY24 sets a solid foundation for further advancements in renewable energy deployment, positioning India as a key player in the global energy transition towards a greener future.

India's renewable energy sector has achieved unprecedented growth in fiscal year 2024, with a significant increase in capacity additions, primarily driven by solar power installations. According to recent reports, the country has witnessed a remarkable surge in renewable energy infrastructure, marking a pivotal moment in its transition towards sustainable energy sources. Key stakeholders and industry experts attribute this remarkable growth to several factors, including favourable government policies, declining solar tariffs, technological advancements, and increasing awareness of environmental sustainability. The robust expansion of solar power capacity has emerged as a cornerstone of India's renewable energy landscape, reaffirming its commitment to combating climate change and reducing carbon emissions. The renewable energy sector's exceptional performance in FY24 underscores India's growing significance as a global leader in renewable energy adoption and implementation. With the government's ambitious targets and proactive measures to promote clean energy initiatives, the country is poised to accelerate its transition towards a low-carbon economy and achieve its renewable energy goals. Investments in renewable energy projects have also been on the rise, with both domestic and international investors showing keen interest in India's burgeoning clean energy market. This influx of investments not only drives economic growth but also creates employment opportunities and fosters innovation in the renewable energy sector. As India continues to ramp up its renewable energy capacity, it is poised to reap the socio-economic benefits of a sustainable energy ecosystem while mitigating the adverse effects of fossil fuel dependency. The momentum gained in FY24 sets a solid foundation for further advancements in renewable energy deployment, positioning India as a key player in the global energy transition towards a greener future.

Next Story
Infrastructure Energy

Reliance requests access to public ATF infrastructure

Access to pipelines and storages that public sector oil companies have built over the years for supplying jet fuel (ATF) from depots and oil refineries to airports has been sought by Reliance Industries Ltd. The company contributes to four percent of India's aviation turbine fuel (ATF) production and wants access to storage depots outside the Delhi airport as well as to pipelines leading to Mumbai, Bengaluru, and Hyderabad airports.

Compared to the supply made by state-owned companies, it now provides ATF in tiny numbers. In order to increase competition and lower fuel costs, the c..

Next Story
Infrastructure Urban

India drafts new EV policy; same for all companies

Amitabh Kant, Sherpa, G20, emphasised the need for a uniform EV policy applicable to all companies in India, asserting that the country will not alter its policy to cater to specific corporate demands. This statement comes amid speculations that Tesla had made particular requests to the Indian government, leading to its decision not to enter the Indian market despite an anticipated visit by the CEO in April.

Kant stated, "India has drafted an EV policy, and all companies must adhere to it. You can't have policies for individual companies." He reiterated that the policy, which includes i..

Next Story
Infrastructure Urban

Apple signs JV with CleanMax for renewable energy expansion in India

CleanMax, a leading renewable energy provider in Asia, has announced a landmark joint venture with Apple to enhance renewable energy projects across India, marking a significant advancement in the country's green energy sector. As part of this collaboration, CleanMax has successfully installed 14.4 MW of rooftop solar installations across six industrial sites in India, expected to mitigate approximately 207,000 tons of CO2 emissions over their operational life. This partnership supports essential renewable energy financing, enabling industries to transition to renewable energy sources and opti..

Next Story
Infrastructure Energy

Vikram Solar Wins 397.7 MW Module Supply Contract for NTPC's Gujarat Solar Project

Vikram Solar has been awarded a significant contract to supply 397.7 megawatts (MW) of solar modules for an upcoming project by NTPC in Gujarat. This agreement underscores Vikram Solar's pivotal role in supporting India's renewable energy ambitions, particularly in expanding solar power generation capacity.

The project, spearheaded by NTPC, one of India's largest power generation companies, aims to enhance Gujarat's renewable energy infrastructure. It aligns with India's national goals of achieving substantial renewable energy penetration and reducing carbon emissions.

Vikram Sol..

Next Story
Infrastructure Energy

TCC seeks bids from developers for a 22 MW renewable energy project

Travancore Cochin Chemicals (TCC) is seeking bids from developers for a 22 MW renewable energy project to be implemented under a group captive model. The deadline for bid submissions is June 19, 2024.

Interested bidders are required to pay a tender fee of Rs 1,000 and an earnest money deposit (EMD) of Rs 500,000. The successful bidder will need to furnish a security deposit equivalent to 10% of the annual energy bill value to ensure contract performance, with the EMD being adjusted against this deposit.

The contract duration will span 20 years from the delivery date. Power can be..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram