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Japan Times
3 days ago
- Business
- Japan Times
The ground is fertile for Japan-India green economy partnerships
In a world that appears deeply divided, India-Japan partnerships offer a ray of hope among fraying political and military ties and global tariff mayhem. The two countries already have long-standing ties, including ancient cultural links through Buddhism and the more recent collaboration between Maruti Udyog Limited and Suzuki Motor's — started in 1981, the joint venture, which has captured half of the Indian car market, has only strengthened over time. The next set of opportunities lies in green and advanced technologies, clean energy first and foremost. As with Maruti Suzuki, this sector offers fertile ground for bringing together Japan's design and research prowess with India's vast human resources and low-cost manufacturing. The primary beneficiaries would be solar, green hydrogen and green ammonia manufacturing. One of India's fastest-growing clean energy firms, ReNew Power, is already slated to produce 100,000 tonnes of green ammonia — made entirely using renewable energy — every year in the Indian state of Odisha in partnership with JERA, Japan's largest power generation company. Meanwhile, Japan has been a consistent and significant investor in India. Between April 2000 and September 2024, its cumulative foreign direct investment amounted to an impressive $43 billion, and the Japan Bank for International Cooperation has committed to financing Indian renewable energy ventures, including through a $600 million fund for sustainability projects. The investments are part of a broader strategy to support India's goal of achieving 500 gigawatts of non-fossil fuel-based power capacity by the end of the decade. By 2020, the country already achieved a 36% reduction in emissions intensity compared with 2005 levels (the target being 33% by 2030) and needs to add roughly 50 GW of clean energy capacity every year from here onward. This goal has received a boost through recent price discoveries — processes that determine the market price of electricity — in four energy auctions. These projects combine solar and wind energy with storage to ensure renewable electricity is available 24/7 (with 80% to 90% availability), and the prices discovered were less than 5 rupees ($0.06) per kilowatt-hour. At the same time, new coal-based capacity was allocated at slightly higher prices, underscoring the growing competitiveness of renewables in India. Combined with the domestic market's appetite for clean energy, the government's Make in India initiative lays out a much easier platform for foreign investors. A renewed focus on boosting India's solar manufacturing capacity — especially as a hedge against China's dominance in this field — would not only serve Japan's interests but also stabilize supply chains for much of Asia. Reports suggest that Japan is devising ways to address the issue of solar waste proliferation by recycling old solar panels and recovering most of the useful metals. Technology transfer and setting up specialized facilities in India may offer opportunities as the country is expected to produce about 600,000 tonnes of solar waste by 2030. Along with Taiwan's Foxconn, Softbank announced in 2015 that it would invest $20 billion in India's still-fledgling solar industry. After spending heavily in renewables, the company sold its assets in 2021: Helping India manage its solar waste would be one way to push this venture toward its logical next step. Opportunities also abound in manufacturing semiconductors and in switching harder-to-abate sectors such as cement, steel, textiles and petrochemicals to greener fuels. The new tariff structure announced by Washington places India in a favorable position, so now is a good time for Japan to invest in the South Asian country and help it position itself as a healthy competitor to China. In the semiconductor sector, India is expected to contribute to 8-10% of international supply in a global market estimated to be worth $420 billion by 2030, according to the head of the India Electronics and Semiconductor Association. By then, Japan itself plans to triple its semiconductor sales to ¥15 trillion ($105 billion), which underscores the crucial role that this sector plays in modern economies. This is not to say that traditional avenues of cooperation need to take a back seat. For instance, sales of electric cars in India dropped by 13% in 2024 compared to the previous year as customers increasingly opt for the convenience of mild and strong hybrid vehicles, which Japanese carmakers have long championed along with hydrogen-fueled power trains. Indian car sales soared to 4.3 million last year and the subtle shift in consumer preferences may open a unique market for Japanese technology, with the potential to apply hybrids and hydrogen fuel cells to both private and heavy-duty vehicles. Greening vehicles would be a major step forward for India as road transport accounted for 12% of its emissions last year. Both India and Japan have much to gain from each other. As long-standing partners who have collaborated successfully before, there is mutual trust and confidence in each other's capabilities — which are especially precious as countries seek alternatives to the world's current financial and industrial power centers. By establishing stable supply chains of high-quality semiconductors, clean energy components and green fuels, India's engagement with Japan could become the preeminent bilateral cooperation that brings stability in these times of uncertainty and accelerates the switch to a low-carbon economy. Ajay Mathur is a clean energy expert and former director general of the International Solar Alliance, a global intergovernmental organization dedicated to advancing solar power adoption.
New Indian Express
17-05-2025
- Business
- New Indian Express
Nara Lokesh lays stone for Rs 22,000 crore ReNew green energy project
ANANTAPUR: Andhra Pradesh marked a significant step toward a sustainable future with the groundbreaking ceremony of a Rs 22,000 crore, 4.8-gigawatt hybrid renewable energy project by ReNew Power in Bethapalli village, Guntakallu constituency, Anantapur district. Minister for Education, IT, and Electronics, Nara Lokesh, laid the foundation stone on Friday and hailed the project as a cornerstone of India's clean energy revolution, signalling the return of industries that had previously left the state. Addressing the gathering, Lokesh hailed the project as a testament to bold decision-making and sustainable progress. 'This is not just an industry, it's a movement that will power the grid, ignite the aspirations of unemployed youth, and pave the way for a brighter future,' he said. He underscored the state's abundant sunlight and clean air, advocating a shift from fossil fuels to renewable energy and dismissing the need to seek solutions beyond Earth. The project aligns with Andhra Pradesh's Integrated Clean Energy (ICE) Policy, launched in October 2024 under Chief Minister N Chandrababu Naidu's visionary leadership. Lokesh described the policy as a blueprint for India's green revolution, positioning Andhra Pradesh as a trendsetter. He highlighted the return of ReNew Power, a major investor before 2019, noting, 'Six years later, ReNew has returned stronger, reflecting confidence in our governance.' State Power Minister Gottipati Ravi Kumar reinforced this, stating, 'Companies that fled during the previous government are now returning under this people's government, drawn by our investor-friendly policies.'
The Hindu
14-05-2025
- Business
- The Hindu
ReNew Power to set up renewable energy complex in Andhra Pradesh's Anantapur district
ReNew Power, a Renewable Energy (RE) company, is investing about ₹22,000 crore in what it claims to be the country's largest single-site RE complex coming up at Bethapalle village in Anantapur district in Andhra Pradesh. The ground-breaking ceremony for the project is scheduled on May 16. IT & HRD Minister Nara Lokesh will be participating in it, thereby giving a big boost to the State's RE landscape. ReNew was the largest RE investor in Andhra Pradesh six years ago, that is, in 2019 with an installed capacity of 777 MW but it had suspended its expansion plans owing to the cancellation of Power Purchase Agreements (PPA) by the YSR Congress Party government. The company's re-entry into Andhra Pradesh now reflects the investor confidence in the National Democratic Alliance (NDA) government, and the above project is the first major one being grounded after the State's Integrated Clean Energy Policy (ICEP) came into force in October 2024. The breakthrough came after Mr. Lokesh's meeting with ReNew chairman Sumant Sinha on the sidelines of the World Economic Forum held at Davos (Switzerland). The project at Bethapalle, which is situated in Guntakal Assembly constituency, would have 587 MW solar and 250 MW wind capacities in addition to a 415 MWh Battery Energy Storage System (BESS) in Phase-I, whose total cost is pegged at ₹7,000 crore. The cumulative capacity in all phases would be 1,800 MW peak of solar, 1 GW wind and 2,000 MWh BESS with an aggregate investment of ₹22,000 crore. The project aligns with Andhra Pradesh's ambitious target of 72 GW renewable energy capacity by 2029 as announced at RE Invest 2024. It was stated that in the last eight months, there were major clean energy investments by Tata Power — ₹49,000 crore (7,000 MW), NTPC — ₹1.86 lakh crore (green hydrogen project), Vedanta's Serentica — ₹50,000 crore (10,000 MW), Brookfield — ₹50,000 crore (8,000 MW), and SAEL — ₹6,000 crore (1,200 MW).
The Print
12-05-2025
- Business
- The Print
ReNew Power to invest Rs 22,000 cr in renewable projects in Andhra Pradesh
The company will also set up a 100-kilometre extra-high voltage (EVH) line for transmission of the clean power. ReNew will set up a 1,800 megawatt solar energy plant and another 1,000 MW wind facility along with a battery energy storage system (BESS) of 2 gigawatt hour (GWh) in two phases at Anantapur in Andhra Pradesh, sources with direct knowledge of the matter said. Vijayawada, May 12 (PTI) ReNew Power, a leading green energy company, is set to invest Rs 22,000 crore in establishing India's largest renewable energy complex in Andhra Pradesh, marking its return to the state after five years. Groundbreaking for the project is planned for May 16, which is likely to be attended by Nara Lokesh, Minister for Information Technology, Electronics, Communications, and Human Resources Development in the Andhra Pradesh government. In the first phase, ReNew will set up 587 MW of solar plant and a 250.8 MW wind project alongside a 415 MWh BESS, they said, adding that the remaining capacity would be developed in the subsequent phases. An email sent to the company for comments remained unanswered. This would be the largest renewable energy complex in India. The Andhra Pradesh government approved the projects under the new integrated clean energy policy launched in October 2024. The investments mark the re-entry of the renewable energy major in Andhra Pradesh after a five-year lull. The Y S Jagan Mohan Reddy government in the state had in 2019 ordered a review of all electricity tariffs agreements signed with green companies. The renegotiation of the power purchase agreements (PPAs) put at risk about 5.2 GW of solar and wind power projects in the state. The move hurt 14 major renewable energy companies, including ACME Solar, ReNew Power, Greenko Holding, Axis Wind farms, Azure Power and Mytrah. The firms dragged the state government to court, and the result was a lull in investments. Sources said no renewable capacity in the state was added from 2019 to 2024. After coming to power, the government led by N Chandrababu Naidu has made renewed efforts to bring investments and companies to the state. The re-entry of ReNew, whose 777 MW project was impacted by the PPA review by the previous government, into Andhra Pradesh is being seen as a vote of confidence in the government led by N Chandrababu Naidu. PTI ANZ ANZ SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
12-05-2025
- Business
- Time of India
ReNew Power to invest ₹22,000 crore in renewable projects in Andhra Pradesh
ReNew Power, a leading green energy company, is set to invest ₹22,000 crore in establishing India's largest renewable energy complex in Andhra Pradesh, marking its return to the state after five years. ReNew will set up a 1,800 megawatt solar energy plant and another 1,000 MW wind facility along with a battery energy storage system (BESS) of 2 gigawatt hour (GWh) in two phases at Anantapur in Andhra Pradesh, sources with direct knowledge of the matter said. The company will also set up a 100-kilometre extra-high voltage (EVH) line for transmission of the clean power. Groundbreaking for the project is planned for May 16, which is likely to be attended by Nara Lokesh, Minister for Information Technology, Electronics, Communications, and Human Resources Development in the Andhra Pradesh government. In the first phase, ReNew will set up 587 MW of solar plant and a 250.8 MW wind project alongside a 415 MWh BESS, they said, adding that the remaining capacity would be developed in the subsequent phases. An email sent to the company for comments remained unanswered. This would be the largest renewable energy complex in India. The Andhra Pradesh government approved the projects under the new integrated clean energy policy launched in October 2024. The investments mark the re-entry of the renewable energy major in Andhra Pradesh after a five-year lull. The Y S Jagan Mohan Reddy government in the state had in 2019 ordered a review of all electricity tariffs agreements signed with green companies. The renegotiation of the power purchase agreements (PPAs) put at risk about 5.2 GW of solar and wind power projects in the state. The move hurt 14 major renewable energy companies, including ACME Solar, ReNew Power, Greenko Holding, Axis Wind farms, Azure Power and Mytrah. The firms dragged the state government to court, and the result was a lull in investments. Sources said no renewable capacity in the state was added from 2019 to 2024. After coming to power, the government led by N Chandrababu Naidu has made renewed efforts to bring investments and companies to the state. The re-entry of ReNew, whose 777 MW project was impacted by the PPA review by the previous government, into Andhra Pradesh is being seen as a vote of confidence in the government led by N Chandrababu Naidu.
