India Inc’s green push is accelerating like never before. The first week of December saw major developments in the renewable energy sector. From large order wins by key renewable energy players like Adani Green and KPI Green to major policy changes, the sector has been buzzing with action.
Here are the major developments in the renewable energy sector of India this week-
Renewable Energy: Policy shift in tendering process
On Thursday, December 4, the Ministry of Renewable and New Energy announced strategic changes to the renewable energy tender policy. The Ministry said that in future, the renewable energy implementation will be driven primarily by the state government tenders rather than by implementing agencies.
The move is aimed at empowering the states to come up with their own bids and structure and sell the issue of unsold power held by central agencies.
Adani Green awards Rs 1,381 crore order
On Monday, Sterling and Wilson Renewable Energy signed a five-year strategic agreement worth Rs 1,381 crore with Adani Green Energy. The order covers a Balance of System package for three solar power projects at the Khavda Renewable Energy Park in Gujarat. The Adani Green order to Sterling includes a supply of goods and on-site services.
On Tuesday, Adani Green Energy incorporated two new subsidiaries, Urjasetu Renewables Limited and Hydrobloom Power Limited, to further expand its renewable portfolio.
KPI Green bags Rs 489 crore contract
On Tuesday, KPI Green Energy bagged an Rs 489 crore EPC contract from Gujarat State Electricity Corporation for a floating solar photovoltaic project.
The company said that the project is to build a 142 MW (DC) / 110 MW (AC) floating solar plant at the Kadana Dam reservoir in Gujarat’s Mahisagar district.
NTPC floats tender
On Wednesday, the public sector company National Thermal Power Corporation floated an Engineering, Procurement and Construction tender for a 2,670 MW battery energy storage system. The BESS system will be installed at NTPC’s existing nine thermal power stations in six states to improve grid flexibility and integrate more renewable energy.
Suzlon announces AI-led capacity expansion
Suzlon’s AI-led capacity expansion is in focus as well. On Thursday, Suzlon Group co-founder Girish Tanti said that the company is planning to set up three AI-powered blade factories to expedite execution of its order book and meet the rising demand of the domestic wind industry.
While two-blade facilities will be set up in Gujarat and Karnataka, the location for the third one is still being explored. Suzlon already has 5 blade factories in Jaisalmer, Bhuj, Ratlam, Dhule and Anantapur.
Overall, the renewable energy sector has been buzzing with action as the 2030 deadline for 500 GW of installed capacity from non-fossil fuel sources looms ahead. The total investment needed to reach the target is close to $400 billion and represents a multi-trillion rupee business opportunity for India Inc