INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY
Stocks in news: TCS, Infosys, JSW Energy, Bandhan Bank, Waaree Renewable
Markets closed with gains driven by easing geopolitical tensions and renewed FII interest. Accenture's strong revenue, fueled by AI demand, boosted TCS, Infosys, and Wipro. Other key developments include NLC India securing a battery storage project, Bajel Projects winning a power transmission order, and ONGC approving a corporate guarantee for OVL.
Assam Cabinet clears 900 MW pumped storage project for Hinduja Renewables
The Assam cabinet has approved a 900 MW pumped storage project by Hinduja Renewables with a ₹5400 crore investment, aiming for 2 GW PSP capacity by 2030. Additionally, a ₹3000 crore Assam Industrial and Green Growth Fund was established to boost renewable energy and other sectors.
NLC India arm bags TNGECL contract to develop standalone BESS projects
NLC India Renewables Ltd has secured a contract from Tamil Nadu Green Energy Corporation Ltd to develop three standalone Battery Energy Storage System projects with a total capacity of 250 MW/500 MWh. These projects will operate under a build-own-operate model with viability gap funding. NLC India Ltd reported a significant increase in consolidated profit for the March quarter of FY25.
Assam far from 13,428 MW rooftop solar energy generation potential, working to bridge gap: Officials
Assam aims to significantly boost rooftop solar power generation, targeting 1,900 MW by 2030 under its Integrated Clean Energy Policy, despite currently producing only 60 MW against a potential of 13,428 MW.
Nearly half of India's power generation capacity non-fossil
India's power sector shows significant growth. Non-fossil fuels contribute nearly half of the total power capacity. Renewable energy sources like solar and wind are expanding. Thermal power, mainly coal, remains a major source. Power shortages have decreased. Electricity consumption has increased. India aims for 500 GW of renewable energy by 2030. The nation balances energy needs with sustainability goals.
CNG poised for significant growth as India focuses on energy transition: Crisil
Crisil Intelligence's report says that India's city gas distribution sector, particularly CNG, is set for substantial expansion driven by government initiatives and rising urban mobility needs. Infrastructure development and increasing demand for cleaner mobility position CNG as a sustainable alternative.
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Make yoga a lifestyle, it provides path of pure discipline, resilience, self-discovery: India Inc
India Inc leaders championed yoga as a vital lifestyle component on International Yoga Day, emphasizing its role in discipline and self-discovery. Across the nation, various yoga sessions were held, with participants including business leaders, government officials, and citizens.
ACME Solar inks pact to supply 250 MW electricity from RE project in Rajasthan
ACME Solar Holdings has secured a 25-year power purchase agreement with NHPC to supply 250 MW of renewable energy from a project in Rajasthan at Rs 4.56 per kWh. This Firm and Dispatchable Renewable Energy project, combining solar, wind, and battery storage, aims to meet peak power demands and bolster India's clean energy goals.
World Economic Forum report praises India's efforts in shaping global energy transition
India, ranked among the world's largest economies, significantly influences the global energy transition through its rapid growth and rising energy demand. The nation has made substantial progress in expanding energy access, improving regulations, and investing in renewable technologies.
Fourth Partner Energy Appoints Shujath Bin Ali as Chief Legal Officer to head Legal and Compliance
Fourth Partner Energy, backed by TPG and Norfund, has appointed Shujath Bin Ali as its Chief Legal Officer. He will spearhead the company's legal, compliance, and governance initiatives. This appointment occurs as India experiences significant expansion and investment in the renewable energy sector, aiming for 500 GW of renewable capacity by 2030.
Gentari plans to offload up to 50% stake in India arm
Gentari, Petronas' renewable energy arm, plans to sell a stake in its Indian unit. This could be a major green energy deal. Standard Chartered is advising on the sale. NTPC Green Energy and others are potential buyers. Gentari's CEO will visit India to discuss the sale. The company has a large portfolio of renewable energy projects in India.
India records highest growth in power generation after US & China in last five years: IEA
India shows significant growth in power generation. It ranks third globally in capacity growth over five years. Demand rises due to commercial expansion and appliance use. Renewable energy investments drive expansion. Solar projects receive major funding. Foreign investment increases in the power sector. Government policies support this growth. India is a major recipient of clean energy funding.
Shripad Yesso Naik urges industry, global firms to invest in Green Hydrogen sector
Minister Shripad Yesso Naik urged industry leaders to invest in Green Hydrogen, emphasizing its potential for energy security and reduced reliance on fossil fuels. India aims to become a global Green Hydrogen hub through international partnerships and domestic initiatives like the SIGHT program. Sumant Sinha highlighted the need for subsidies and addressing cost challenges to achieve net-zero goals by 2070.
Powering India’s energy future: In conversation with N Venu, MD & CEO, India and South Asia, Hitachi Energy
Hitachi Energy is strategically expanding its capabilities to meet India's growing energy demands, investing significantly in capacity expansion and HVDC technology. The company is focused on maintaining leadership in core segments while strengthening its presence in high-growth areas like data centers.
NCLAT directs NCLT to hear, pass order on Gensol's former independent director plea
The NCLAT has instructed the NCLT to review Harsh Singh's plea against the investigation order involving Gensol Engineering. Singh, a former independent director, challenges the NCLT's decision, citing his limited role and lack of prior hearing. Meanwhile, the NCLT has initiated insolvency proceedings against Gensol Engineering and Gensol EV Lease following petitions from IREDA.
India slips to 71st place on Energy Transition Index; efficiency, investment capacity up
India's energy transition efforts are gaining momentum, securing 71st rank globally, driven by enhanced energy efficiency and investment capacity, according to the World Economic Forum. While India's ranking slipped from last year, it, along with China, showed significant progress in energy access and transition readiness. However, geopolitical tensions and investment gaps pose challenges to sustained global progress.
Energy transition: How coal mines could go solar
Disused coal mines could be refashioned to place vast fields of solar panels, a new report suggests, providing an unlikely solution to a common obstacle to uptake of the green energy source. Coal mine-to-solar conversions are already happening in some countries, most notably China, which leads the world in solar uptake.
For long-term investors: Time to ‘switch on’ again; 7 power stocks from different segments with upside potential of over 39%
When a sector sees a strong re-rating in a short span of time, it sometimes raises doubts about whether the stocks moved too fast. These fears come to the fore especially when the market has just gone through a phase of correction. At the same time, there are sectors that, after going through a deep phase of trouble, take some time to make a comeback. But when the comeback happens, it is much stronger. This might be the case for players in the power sector – a sector that is seeing both a comeback and a transition.
Nandan Nilekani likely to head power reforms panel
Nandan Nilekani is poised to lead a government task force aimed at digitizing and decentralizing India's power sector, potentially mirroring the success of UPI in energy. This initiative, supported by the RDSS, seeks to cut generation, transmission, and distribution costs by up to 25%.
India proposes virtual power agreements to boost renewable energy trading in power markets
India's power market regulator on Tuesday proposed amending its electricity trading rules to introduce Virtual Power Purchase Agreement (VPPA), a new financial instrument aimed at helping consumers meet renewable energy obligations and trade power.
Wind energy centre of Atma Nirbhar Bharat: India becomes 3rd largest maker of renewable energy; wind capacity hits 51.5 GW in a decade
On Global Wind Day 2025, Minister Prahlad Joshi emphasised wind energy's pivotal role in India's clean energy goals and its ambition to become a global manufacturing hub. India has achieved 51.5 GW of wind capacity and aims for 100 GW by 2030. The focus is now on integrating wind with storage, reducing tariffs, and boosting manufacturing efficiency.
India has achieved 51.5 GW wind capacity, 150% growth in a decade: Union Minister Pralhad Joshi
Union Minister Pralhad Joshi announced India's wind energy capacity has reached 51.5 GW. This marks a 150% growth in ten years. India is now exporting wind turbines. The nation aims for 100 GW by 2030, including offshore projects. The government approved Viability Gap Funding for offshore wind projects. Renewable energy budget increased by 53%.
NCLT directs insolvency against Gensol, Gensol EV Lease; appoints IRP
The National Company Law Tribunal has initiated insolvency proceedings against Gensol Engineering and Gensol EV Lease following petitions from the Indian Renewable Energy Development Agency due to defaults of ₹510 crore and ₹218.95 crore, respectively. An interim resolution professional has been appointed to manage the affairs of both companies, whose boards have been suspended.
Asian Development Bank approves $109.97 mn loan to boost employability in Gujarat
ADB has approved a USD 109.97 million loan to support Gujarat's skills development program. This initiative aims to create a future-ready workforce by strengthening the Kaushalya: The Skill University network and providing industry-aligned training in high-growth sectors. The program focuses on upgrading ITIs and establishing centers of excellence to improve the TVET system.
NBFCs turn top overseas borrowers in April with over $1.5 billion loans
Indian companies raised $2.92 billion through overseas loans in April, with NBFCs leading the way, securing $1.53 billion for on-lending and sub-lending. Shriram Finance topped the list with $955 million in external commercial borrowings. ECB has become a cheaper funding option for NBFCs, diversifying their funding mix amid reduced bank lending due to risk weights.
German utility RWE and tech giant Amazon announce partnership
German utility RWE and Amazon have formed a strategic partnership, exchanging clean energy from RWE’s wind and solar projects for Amazon’s AI and cloud services. The deal supports Amazon’s green energy goals and RWE’s digital transformation, with plans to expand collaboration in renewables, data centers, and energy-focused AI development.
Gensol Engineering shares slide 2% as NCLT reserves order on Rs 729 crore Ireda insolvency pleas
Gensol Engineering shares: On Wednesday, the two-member bench of the NCLT, consisting of judicial member Shammi Khan and technical member Sanjeev Kumar, reserved its judgment on Ireda's petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Gensol Engineering concerning a loan default amounting to Rs 510 crore.
Interstate transmission: Centre allows surety bond and payment of order instruments as bid security
To bolster payment security for interstate power transmission projects, the government has introduced Payment of Order Instruments (POI) and Insurance Surety Bonds (ISB) as alternative security instruments. These measures, applicable to projects developed through tariff-based competitive bidding, aim to facilitate the evacuation of renewable energy, including 9 GW from Rajasthan and Karnataka, with significant capital expenditure allocated for transmission infrastructure.
IREDA launches Rs 5,000 crore QIP, but who really owns the stock?
Indian Renewable Energy Development Agency or IREDA has launched a Qualified Institutional Placement. It aims to raise up to Rs 5,000 crore. The floor price is Rs 172.4 per share. Retail shareholders have nearly doubled since December 2023. The government remains the dominant shareholder with 75%. IREDA reported a rise in net profit in the March quarter.
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