India PV News Snippets: MNRE, RIL, IREDA, RUMSL

While India's Installed Solar Capacity Reached 36 GW With IREDA Having Financed Over 2,700 RES Projects So Far, Reliance Invested In Bill Gates' BEV And Madhya Pradesh Looks for Enironmental Consultancy Services for Solar Parks 
08:34 PM (Beijing Time) - 16. November 2020
Presentation1

Till October 31, 2020, cumulative installed renewable energy capacity of India reached 89.63 GW with 406.22 MW added during the month of October 2020. According to the Ministry of New and Renewable Energy (MNRE), the share of solar PV in the cumulative capacity installed reached 36.32 GW

Key Takeaways

  • Till October 31, 2020, cumulative installed renewable energy capacity of India reached 89.63 GW with 406.22 MW added during the month of October 2020
  • Reliance Industries Limited (RIL) has made a capital investment of up to $50 million in global private clean energy investment vehicle Breakthrough Energy Ventures (BEV) of Bill Gates
  • Indian Renewable Energy Development Agency Ltd. (IREDA) has financed more than 2,700 renewable energy projects in India so far
  • Consultant required for Rewa Ultra Mega Solar Limited (RUMSL) PV park in Madhya Pradesh

India installed 406.22 MW RE capacity In Oct. 2020: Till October 31, 2020, cumulative installed renewable energy capacity of India reached 89.63 GW with 406.22 MW added during the month of October 2020. According to the Ministry of New and Renewable Energy (MNRE), the share of solar PV in the cumulative capacity installed reached 36.32 GW. A combined 49.59 GW of renewable energy capacity is at various stages of implementation while 27.41 GW at under various stages of bidding.

RIL invests in Breakthrough Energy Ventures: Reliance Industries Limited (RIL) has made a capital investment of up to $50 million in global private clean energy investment vehicle Breakthrough Energy Ventures (BEV) of Bill Gates, which is incorporated in the US. It will make this contribution in tranches over the next 8 to 10 years. BEV invests funds raised from investors to support innovation in clean energy solutions. RIL says, the results of these efforts would have significant relevance for India and are expected to benefit the entire mankind and also provide good returns to the investors. The investment is subject to approval from the Reserve Bank of India (RBI).

IREDA financing for over 2,700 RE projects: The Indian Renewable Energy Development Agency Ltd. (IREDA) has financed more than 2,700 renewable energy projects in India with cumulative loan disbursements to the tune of INR 570 billion ($7.65 billion) by November 2, 2020. This financing has so far supported green power capacity addition of 17.259 GW in the country. During FY 2019-20, it sanctioned a loan of INR 127 billion ($1.7 billion) including co-financed projects and take over loans to support 5.67 GW of renewable energy capacity installations, as against 3.26 GW last year.

Consultant required for solar parks in Madhya Pradesh: A joint venture between the Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL), the Rewa Ultra Mega Solar Limited (RUMSL) has issued an e-tender to select consultant to provide consulting services for Environment and Social Baseline Survey to identify land for proposed solar parks in Morena under cluster 1 and in Chhatarpur under cluster 2. Last date to submit bids is December 4, 2020.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani