SOLAR power and anciliary companies a good opportunity for lon | Equitech Wealth 🎯🙏
SOLAR power and anciliary companies a good opportunity for long term perspective
Glance:
Rising Solar Capacity And Tariffs India added 456 megawatt of rooftop solar capacity in the quarter ended March, a rise of 34% over the year earlier and 13% sequentially. That’s the second-highest by installed solar capacity in any quarter, according to data by Mercom Communications India—a clean energy consulting firm.
Most of the industrial segment transitioned to solar in the January-March period, followed by commercial and residential segments.
Rooftop Solar
Rooftop solar installations accounted for 15% of total solar installations. As of March, India’s cumulative rooftop solar capacity was nearly 7.6 gigawatt. Gujarat, Maharashtra and Rajasthan saw the highest rooftop installations in the quarter ended March. But the costs have also risen. For every installed rooftop solar system during the quarter, an entity or individual paid 17% more over the year ago.
For instance, if solar tariff is Rs 100 this month, it will be Rs 121 a year later, a report by Institute of Energy Economics and Financial Analysis and JMK Research said. That’s because of a rise in solar module prices on account of higher key raw materials costs, and scarcity and increased freight charges.
Solar tariffs, according to the report, will climb ever more due to the government’s imposition of basic customs duty of 40% on imported solar modules and 25% on imported solar cells. The implementation of the “approved list of models and manufacturers” would also lead to price pressure, it said
Top companies
1. Adani green energy: , a subsidiary of Adani Green, commissioned a 390-MW wind-solar hybrid power plant in Jaisalmer, Rajasthan. With this, Adani Green has an operational capacity of 5.8 GW and a total renewable portfolio of 20.4 GW.
2. Tata Motors, Tata Power join hands to install 7 MWp solar rooftop expansion project in pune.
Tata Power awarded 1,000 MW solar project by SJVN. Green and Hydro is focus area for company along with battery charging station.
3. Borosil Renewable: BRL has a 40% market share in the Solar Glass segment. BRL has expanded its glass capacity from 180 TPD to 450 TPD, which is equivalent to the production of 2.5 gigawatts of solar modules annually.
3. Gravita India has installed 1,300 kilowatt of solar energy generation systems at its manufacturing facilities. It is expected to generate nearly 20 lakh kilowatthour of energy per year and reduce carbon emissions by around 1,550 tonnes per year. Gravita India spent Rs 6 crore for the solar installation, funded through by internal accruals.
Other deal
Germany, India sign $10.5-billion green development deal.
SJVN signed a pact to develop 490 MW hydroelectric power project on Arun river basin in Nepal. The expected cost is Rs 4,900 crore. The project is expected to generate 2,100 million units of energy per annum. With this, SJVN’s total capacity in Nepal will be 2,059 MW.
India approved amendments to the National Policy on Biofuels. It advanced the target of blending 20% ethanol in petrol by five years to 2025-26 and allowed more feedstocks for the production of biofuels.
While Adani Group will establish green energy projects, including 3,700 MW pumped hydro storage project and 10,000 MW solar power project for Rs 60,000 crore, Greenko and Aurobindo Realty will set up projects related to hydro, solar and wind power, the Reuters report said.
