india

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Month in a Minute: Top Headlines from Indian Renewable Sector in April 2024

The solar sector secured $8.1 billion in corporate funding through 41 transactions in the first quarter (Q1) of 2024, marking a 4% decrease from the $8.4 billion raised...

May 3, 2024

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Arjun Joshi

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Other

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Renewable Energy
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First Solar Q1 Profit Soars 455% on Strong Sales, Improved Margins

U.S.-based First Solar’s net income for the first quarter (Q1) of 2024 surged by 455% to $236.6 million from $42.6 million in the same quarter last year, with the solar...

May 2, 2024

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Staff

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Finance and M&A

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Solar
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PointO Raises ₹62 Million to Build Full-Stack Lithium Battery Ecosystem in India

Lithium battery startup PointO has secured ₹62 million (~$743,236) in seed funding, with Equirus InnovateX Fund (EIF) leading the round with an investment of ₹50 million...

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Global Renewable Energy Capacity to Reach 7.3 TW by 2028: IEA

Under current policies and market conditions, the global renewable capacity is projected to hit 7,300 GW by 2028. However, this trajectory falls short of the goal to...

May 2, 2024

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Arjun Joshi

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Markets & Policy

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Renewable Energy
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India to Become Third-Largest Market for Utility-Scale Batteries by 2030: IEA

India could become the world’s third largest market for utility-scale batteries, with capacity additions expected to rise to 9 GW by 2030, fuelled by the cost...

April 29, 2024

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Staff

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Energy Storage
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Global Solar Manufacturing Capacity Set to Expand to Over 1.3 TW by 2028

Global solar manufacturing capacity under construction indicates an increase of 330 GW in 2023 to almost 800 GW – triple the 2021 level, according to the International...

April 29, 2024

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Arjun Joshi

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Manufacturing

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Markets & Policy

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Solar
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Hitachi Energy Invests $1.5 Billion to Meet Surging Transformer Demand

Hitachi Energy, a subsidiary of Japan-based conglomerate Hitachi, will ramp up its global manufacturing capacity for transformers with a $1.5 billion investment by 2027,...

April 25, 2024

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Staff

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Manufacturing

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Solar
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Threat of US Anti-Dumping Duties on Indian Solar Module Exports

India’s solar exports success story could run into trouble if the U.S. entertains petitions from domestic manufacturers to impose anti-dumping (AD) and...

April 22, 2024

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B.S. Nagaraj

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Markets & Policy

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Modules

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Solar
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Apple Partners with CleanMax to Power India Operations with Renewable Energy

Tech giant Apple has announced a joint venture with Mumbai-based renewable energy firm CleanMax to power its operations in India with renewable energy as part of its...

April 18, 2024

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Staff

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C&I

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Solar
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Daily News Wrap-Up: NTPC’s 1 GW Wind-Solar Hybrid Auction

Sprng Energy, AMPIN Energy Transition, Juniper Green Energy, ReNew Solar Power, and Avaada Energy have won NTPC’s auction for the supply of 1,000 MW power from...

April 18, 2024

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Mercom Staff

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Daily Wrap-up
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Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Husk Power Systems, a decentralized solar-hybrid mini-grids provider, has secured a $4 million investment in debt financing from Electrifi. This impact investment...

April 16, 2024

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Mercom Staff

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Finance and M&A

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Off-grid

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Solar
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REC Records Six-Fold Jump in Renewable Energy Loan Approvals in FY24

Public infrastructure finance company REC Limited recorded its highest-ever loan approvals totaling ₹3.58 trillion (~$43.02 billion) in the financial year (FY) 2023-24,...

April 10, 2024

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Arjun Joshi

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Finance and M&A

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Renewable Energy
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EU, India Invite Expressions of Interest for Battery Recycling Collaboration

The European Union and India have announced a matchmaking platform to foster collaboration among startups working towards battery recycling technologies for electric...

April 10, 2024

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Mercom Staff

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Energy Storage

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Tenders & Auctions
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Renewable Energy Projects Bogged Down by Lack of Transmission Infrastructure

Renewable energy project development is surging across India, resulting in an unprecedented demand for evacuation infrastructure to connect to the grid. According to a...

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EV Sales Sustain Growth Momentum, Up 40% YoY in Q1 2024

Electric vehicle (EV) sales in India reached a record 486,669 units in the first quarter (Q1) of 2024, a jump of over 40% year-over-year (YoY) against the 347,676...

April 1, 2024

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Arjun Joshi

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Electric Vehicles

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Market & Policy

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