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Time of India
2 days ago
- Business
- Time of India
Union minister flags off 435MW solar project
Union minister for new and renewable energy, Pralhad Joshi, Saturday inaugurated the 435-MW Gorbea Solar Power Project , developed by Zelestra India , in Rajasthan. He said, "With every megawatt we generate, we are not just producing power, we are building a New India." The Gorbea Solar Power Project, delivered in under eight months, spans 1,250 acres and is backed by a 25-year power purchase agreement with Solar Energy Corporation of India . Joshi noted that almost 70 per cent of Rajasthan's power capacity is now sourced from renewable energy, with over 35.4 gigawatts installed, 29.5 gigawatts from solar and 5.2 gigawatts from wind. He praised the state's proactive role in India's renewable energy growth. The minister highlighted that the project has turned farmers into partners in India's energy journey, as the land used was leased from them, offering stable income. "Our farmers are no longer just food providers. They are now energy providers as well," he said. Joshi lauded CM Bhajan Lal Sharma for accelerating policy and investment reforms. Rajasthan has adopted the Integrated Clean Energy Policy 2024 and operationalised the Rajasthan Green Hydrogen Policy. Investment commitments worth over ₹6.57 lakh crore were signed last year with a major focus on renewable energy and green hydrogen. Under PM Surya Ghar Muft Bijli Yojana , over 49,000 rooftop installations were completed in Rajasthan, with over ₹325 crore in subsidies disbursed. Joshi urged faster implementation, given the 2.7 lakh applications already received.
Time of India
2 days ago
- Business
- Time of India
Green hydrogen to power ₹10 lakh crore investment wave by 2030: Report
New Delhi: India's green hydrogen economy is gearing up for an investment wave of ₹10 lakh crore by 2030 as the country ramps up capacity to meet its ambitious National Green Hydrogen Mission (NGHM) targets, according to a report by Avener Capital . The report said India is targeting 5 million tonnes per annum (MTPA) of green hydrogen production and 20 GW of electrolyser manufacturing capacity by the end of this decade. The centrepiece of this push is the SIGHT (Strategic Interventions for Green Hydrogen Transition) Programme, with an outlay of ₹17,000 crore till FY2030. Solar Energy Corporation of India (SECI) has already awarded over 8.58 lakh MTPA of green hydrogen production and 2.3 GW of electrolyser manufacturing capacity under this scheme. The government aims to cut fossil fuel imports by ₹1 lakh crore and avoid 50 million metric tonnes of greenhouse gas emissions through green hydrogen adoption. The total outlay for the National Green Hydrogen Mission, launched in January 2023, is ₹19,744 crore, including incentives for both hydrogen producers and electrolyser manufacturers. High stakes, high demand Green hydrogen is set to become the backbone of decarbonisation in sectors like fertilisers, refining, and steel, with demand from the refining and steel sectors alone projected to reach 4.5 MTPA by 2030. The report said green hydrogen is likely to replace nearly 80 per cent of fossil fuel usage in these sectors. The current cost of green hydrogen in India ranges from $3.8/kg to $5.8/kg. The report estimates this will fall to $0.8/kg to $3.3/kg by 2030, driven by cheaper renewable energy, improved capital efficiency, and indirect tax waivers. To support this transition, the government has rolled out production-linked incentives (PLI) worth ₹5,258 crore for green hydrogen and ₹4,440 crore for electrolysers. These are structured as per-kg awards disbursed over three years under SIGHT Component II, based on performance and localisation benchmarks. India's green electrolyser play India's current electrolyser capacity is under 1 GW, but with SIGHT Component I's recent awards and planned expansion to 20 GW by 2030, the domestic ecosystem is expected to see significant growth. In the first tranche of bidding, SECI awarded 2.3 GW of electrolyser capacity. Meanwhile, port infrastructure is being developed in Kandla, Tuticorin, and Kakinada to enable green hydrogen and ammonia exports. Long-term contracts for 2.5 lakh tonnes of exports have already been signed from Tuticorin and Kakinada. States enter green hydrogen race States including Maharashtra, Karnataka, Gujarat, Uttar Pradesh, and Andhra Pradesh have introduced their own green hydrogen policies, offering incentives like stamp duty waivers, land subsidies, and exemption from transmission charges to attract investors and project developers. Green ammonia, used in fertilisers and shipping, is emerging as a major export product and hydrogen carrier due to its higher energy density and ease of transport, the report added. Global race intensifies On the global front, the report said countries such as the US, China, and Germany have announced green hydrogen capacity targets that together exceed 20 MTPA by 2030. India's competitive renewable energy tariffs and large industrial base make it well-positioned to be a major exporter.
Time of India
3 days ago
- Business
- Time of India
Nearly 70% of Rajasthan's power capacity comes from renewable energy: Pralhad Joshi
New Delhi: Almost 70 per cent of Rajasthan's power capacity is now sourced from renewable energy, with over 35.4 gigawatts installed, 29.5 gigawatts from solar and 5.2 gigawatts from wind, according to Union Minister for New and Renewable Energy, Pralhad Joshi . The state is now a beacon of hope, energy independence, and self-reliance, said the minister while inaugurating the 435 megawatt Gorbea Solar Power Project , developed by Zelestra India, in Rajasthan. He described the Gorbea project as a shining example of what is possible through visionary leadership and honest intent. "With every megawatt we generate, we are not just producing power, we are building a New India," he remarked, adding that the project reflects the speed and scale of change. The Gorbea Solar Power Project, delivered in under eight months, spans 1,250 acres and is backed by a 25 year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India. It will generate 755 gigawatt hours of clean electricity annually, powering approximately 1.28 lakh homes and reducing nearly 7.05 lakh tonnes of carbon emissions each year. The minister highlighted that the project has turned farmers into partners in India's energy journey, as the land used has been leased from them, offering stable income. "Our farmers are no longer just food providers. They are now energy providers as well," he said. During construction, over 700 local workers were employed, contributing to livelihood generation and skill development. Joshi also noted that the entire evacuation infrastructure, including the on-site substation and a 6.5 kilometre transmission line, was completed in just five months. The project uses advanced solar panels (TOPCon bifacial mono PERC modules) and over 1300 robotic cleaning units to maintain peak performance. Joshi called this a world-class facility and urged broader adoption of such technologies. Referring to his visit to IIT Bombay, the Minister spoke about ongoing work on Perovskite Tandem Solar Cells and encouraged Zelestra and Rajasthan officials to explore pilot projects using this next-generation solar technology. He said such innovations could significantly boost energy yields in high-irradiance states like Rajasthan. Under the PM Surya Ghar Muft Bijli Yojana , over 49,000 rooftop installations have been completed in Rajasthan, with more than Rs 325 crore in subsidies disbursed. He urged faster implementation, given the 2.7 lakh applications already received. Under PM-KUSUM, nearly 1.45 lakh solar pumps have been installed. The minister said that India has already achieved its target of 50 percent installed capacity from non-fossil fuel sources, five years ahead of the 2030 deadline. -IANS na/
Time of India
4 days ago
- Business
- Time of India
Union minister flags off 435MW solar project
Jaipur: Union minister for new and renewable energy, Pralhad Joshi, Saturday inaugurated the 435-MW Gorbea Solar Power Project, developed by Zelestra India, in Rajasthan. He said, "With every megawatt we generate, we are not just producing power, we are building a New India. " The Gorbea Solar Power Project, delivered in under eight months, spans 1,250 acres and is backed by a 25-year power purchase agreement with Solar Energy Corporation of India. Joshi noted that almost 70% of Rajasthan's power capacity is now sourced from renewable energy, with over 35.4 gigawatts installed, 29.5 gigawatts from solar and 5.2 gigawatts from wind. He praised the state's proactive role in India's renewable energy growth. The minister highlighted that the project has turned farmers into partners in India's energy journey, as the land used was leased from them, offering stable income. "Our farmers are no longer just food providers. They are now energy providers as well," he said. Joshi lauded CM Bhajan Lal Sharma for accelerating policy and investment reforms. Rajasthan has adopted the Integrated Clean Energy Policy 2024 and operationalised the Rajasthan Green Hydrogen Policy. Investment commitments worth over Rs 6.57 lakh crore were signed last year with a major focus on renewable energy and green hydrogen. Under PM Surya Ghar Muft Bijli Yojana, over 49,000 rooftop installations were completed in Rajasthan, with over Rs 325 crore in subsidies disbursed. Joshi urged faster implementation, given the 2.7 lakh applications already received.
Time of India
04-07-2025
- Business
- Time of India
India adds 16 GW RE capacity till May; SECI issues 3.2 GW solar+storage tenders in June
New Delhi: India floated 6,800 MW of renewable energy tenders in June 2025 under the project development category, including two large solar-plus-storage projects issued by SECI, according to JMK Research & Analytics . Solar Energy Corporation of India (SECI) issued tenders for development of 2,000 MW ISTS-connected solar with a 1,000 MW/4,000 MWh energy storage system (ESS) and another 1,200 MW solar project with 600 MW/3,600 MWh ESS component. About 513 MW of EPC tenders were issued during the month. NTPC issued a 260 MW solar EPC tender in Rajasthan. India added 12,970 MW of solar and 3,129 MW of wind capacity from January to May 2025, taking the country's cumulative renewable energy capacity to 226.7 GW. In May 2025, solar and wind additions totalled 3,123 MW, marking a 5.9 per cent decline compared to the previous month. In June 2025, a total of 1,570 MW of battery energy storage system (BESS) capacity and 312 MW of renewable energy capacity was allocated through auctions. Standalone BESS tenders accounted for 83 per cent of the total allotted capacity. The RE sector attracted $1,630 million in investments during June 2025. In the Indian Energy Exchange (IEX) Green Day-Ahead Market (GDAM), 938 million units were traded in June 2025, showing a 13.8 per cent increase from the previous month. The average traded price in IEX-GDAM stood at ₹4.38 per kWh. Mono PERC module prices fell marginally by 0.3 per cent in June 2025 over the previous month. During the month, 23 central and 15 state-level policies, notifications, regulations, and orders were issued relating to the renewable energy sector.
