India's Green Energy Initiatives Accelerate Amid Growing Renewable Capacity
Key Ideas
- India's renewable energy capacity reaches 44.3% of total power capacity, with significant growth in solar energy installations.
- Ministry of New and Renewable Energy launches a program to promote green hydrogen production and utilization in various sectors with a budget of ₹2 billion.
- SJVN Green Energy invites bids for wind power projects in Gujarat, while Tata Power signs a 25-year agreement to supply solar and wind power to Noida International Airport.
- Revenue of Indian companies like SJVN, Insolation Energy, and others witness growth, while U.S.-based companies like Sunrun and Eos Energy Enterprises face revenue challenges.
India's renewable energy capacity has reached 44.3% of the country's total power capacity, with solar energy installations showing significant growth. The Ministry of New and Renewable Energy has introduced a program to boost green hydrogen production and utilization in various sectors, allocating ₹2 billion until 2025-26. SJVN Green Energy is seeking bids for wind power projects in Gujarat, and Tata Power has secured a 25-year agreement to supply solar and wind power to Noida International Airport. Companies like SJVN and Insolation Energy have reported revenue growth, while U.S.-based Sunrun and Eos Energy Enterprises faced revenue challenges in Q3 2024. Additionally, the Directorate General of Trade Remedies in India has recommended anti-dumping duties on textured tempered glass imports from China and Vietnam to protect the domestic industry.