Budget 2024: India’s green energy sector sets high hopes, eyeing major policy support
Industry leaders have put forth a comprehensive wish list, ranging from enhanced subsidies and research funding to favourable tax regimes and streamlined process, all contributing in the country’s ambition of renewable energy goals and to stringent its position in the global clean energy sector. Read More
How budget planning can help stimulate growth of renewable energy
For the upcoming budget for FY 2024-25, from the perspective of sustainable financing to support RE growth, a few areas such as distributed RE installations and localising the supply chain are expected to be on the priority list. Accelerating rooftop solar installations is likely to see a substantial boost in budgetary allocations, especially considering the recent announcement regarding 23% increase in per KW central financial assistance for up to 3KW installations under Phase-II of Rooftop Solar Scheme. Another area of potential focus is the development of 4000 MWh of battery energy storage systems, where the Government has recently announced VGF support of up to 40% of project cost. Read More
India to implement new renewable energy consumption norms from April 1, 2024.
India enforces new norms for distribution licensees in relation to consumption of renewable energy from 1 April 2024, said by R.K. Singh in Lok Sabha in a written reply on 8 Feb 2024. This move comes as of the latest data, India has more than 180 GW (Gigawatts) of installed renewable energy capacity. These norms are set down for the distribution licensees to ensure that certain percentage of electricity consumption by distribution licensees comes from renewable energy sources. Read More
Ministry of Power (MoP) Issues Notification for Electricity (Amendment) Rules of 2024
The Electricity (Amendment) Rules, 2024 has been issued by the Ministry of Power which introduces the significant changes in the existing regulatory framework. The amendment added two new rules i.e., R 21 and R 22, addressing the requirement of obtaining license under the Act for establishing, operating or maintaining a dedicated transmission line to connect to the grid. Further, rule 22 addresses open access charges, covering aspects like wheeling charges, charges for using state transmission utility (STU) networks, and additional surcharges for open access consumers. Read More
Government Unveils Guidelines for Pilot Projects Harnessing Green Hydrogen in Transportation
The pilot project has been introduced by the central government under the National Green Hydrogen Mission, focusing on integrating green hydrogen into the transport sector. The initiative consists of two components: (1) promotes technology advancement for using green hydrogen in buses, trucks, and four-wheelers; (2) supports infrastructure development like hydrogen refueling stations. These projects aim to explore innovative solutions to reduce carbon emissions in transportation and have a budget of Rs 4.96 billion until 2025-26. Read More
Ministry of New and Renewable Energy Establishes Wind Repowering Committee
Wind repowering is a strategic process aimed at upgrading existing power plants by integrating new or refurbished technology. The Ministry of New and Renewable Energy (MNRE) has issued a notification announcing the formation of a Wind Repowering Committee. Read More
Carbon is now deciding Winners & Losers
The pressing climate crisis is gaining speed. The intentional community is not even on track in achieving their environmental goals and the aspirational aim of limiting the temperature rise to below 1.5% is getting even harder. However, progress remains sluggish and the European Union is taking matters into their own hands, changing good statements into real acts and transforming climate awareness int law. The bloc is thus, targeting carbon-intensive sectors which could cause a huge turnaround to the exporter. Read More
New ₹500 crore e-mobility scheme kicks in.
Government’s Faster adoption and manufacturing of electric vehicles II (FAME II) scheme has come to an end and a new Electric Mobility Promotion Scheme 2024 (EMPS 2024) has been rolled out for the next four months i.e. from April to July 2024. The new scheme, with a total outlay of ₹500 crore, aims to promote the purchase of electric two-wheelers (e2W) and three-wheelers (e3W) across the country. Read More
MNRE Updates ALMM with 14 New Solar Module Manufacturers
The Ministry of New and Renewable Energy (MNRE) has issued an updated list of models and module manufacturers under the approved list of modules and manufacturers (ALMM) order to include 80 module manufacturers with 21.68 GW of listed module capacity. The anticipated relief for net metering and open access projects did not come to fruition as the deadline passed without an extension from the government. As of October 1, 2022, developers are mandated to use domestically manufactured modules from ALMM. Read More
MNRE Introduces Mode 2A Incentive Scheme to Fast-track Green Ammonia Production
MNRE issued the two incentive schemes (i) incentive scheme for green ammonia production and supply (under Mode 2A) (“Green Ammonia Incentive Scheme”); and (ii) incentive scheme for green hydrogen production and supply (under Mode 2B) (“Green Hydrogen Incentive Scheme”), as part of Mode 2 of the Strategic Interventions for Green Hydrogen Transition (“SIGHT”) Programme under the National Green Hydrogen Mission, with a financial outlay of INR 13,050, collectively. Read More
