Weekly Solar Surge (June 24 - June 30; 2024): Top Updates from India’s Solar PV Sector
India's solar photovoltaic (PV) industry has been witnessing remarkable growth and innovation. Here are the top five updates from June 2024 that highlight the strides being made in this sector:
India Achieves 70 GW Solar Capacity: As of June 2024, India's cumulative solar capacity has reached a remarkable 70.10 GW. This milestone is a testament to the country's commitment to renewable energy, with states like Rajasthan, Gujarat, and Karnataka leading the way. This achievement underscores India's potential, with an additional 55.90 GW currently under installation.
Larsen & Toubro's Solar-Plus-Storage Project: Larsen & Toubro (L&T) has secured a pivotal project in Bihar, involving a 185 MW solar plant integrated with a 254 MWh battery energy storage system (BESS). This project is a significant step towards integrating renewable energy with advanced storage solutions, ensuring grid reliability and efficient energy use.
Waaree Energies' Major Solar Module Order: Waaree Energies has landed a substantial contract to supply 412.5 MW of bifacial solar modules for a project in Rajasthan by Acciona Energy. This deal highlights the growing demand for advanced solar technologies and the significant role of Indian manufacturers in the global solar market.
NTPC's RFP for 1,200 MW Solar Projects: NTPC Limited has issued a request for proposals (RFP) for developing 1,200 MW of solar projects across India. This initiative aims to bolster NTPC's renewable energy capacity and contribute significantly to India's renewable energy targets, driving further growth in the solar sector.
SJVN's 1.5 GW Wind and Solar Allocation: SJVN has allocated 1.5 GW of wind and solar projects at an attractive tariff of $0.041 per kWh. These projects will operate under long-term power purchase agreements, marking a significant move towards affordable and sustainable energy solutions in India.
India's solar PV industry is not just growing; it's evolving with innovative projects and significant milestones. As the country continues to embrace renewable energy, these updates reflect the dynamic changes and promising future of solar power in India.
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