Jupiter to expand capacity: Indian solar cell and module manufacturer Jupiter International Limited will establish a new facility in India’s Odisha with an annual production capacity of 4.2 GW for solar cells and 3.6 GW for solar modules. It entered a memorandum of understanding (MoU) with the State Government of Odisha to set up the factory in Khordha for an investment of INR 20.05 billion ($237 million). The company says this initiative is part of its broader expansion plan under which it aims to achieve 3 GW of wafer, 9.4 GW of solar cell, and 6 GW of module production over the next 3 years (see Jupiter International Announces INR 65 Billion Solar Manufacturing Expansion).
Welspun to invest INR 135 billion in Odisha: Welspun New Energy has signed a memorandum of understanding (MoU) with the State Government of Odisha to invest INR 135 billion ($1.55 billion) in green energy. This money will be invested in developing a 1.2 GW pumped hydro power project and a 1 GW floating solar power plant. Welspun said these facilities are expected to enhance the state’s energy storage capacity and support the integration of renewable energy into the grid. They signed the MoU at the Make in Odisha Conclave 2025.
Solarium files for IPO: Indian solar EPC company Solarium Green Energy has announced an initial public offering (IPO) to raise INR 1,050.4 million ($12 million). The issue will open on February 6, 2025, and close on February 10, 2025. It plans to offer 5.5 million equity shares. Proceeds raised will be used for working capital and general corporate purposes. The company previously operated a polycrystalline solar panel production factory in Gujarat which it shut down in February 2024 as it did not meet the minimum module efficiency fixed by the Ministry of New and Renewable Energy (MNRE) for the Approved List of Models and Manufacturers (ALMM). Its red herring prospectus is available on the company’s website.
Solar-hydrogen plant for Indian army: India’s state-owned utility NTPC has signed a power purchase agreement (PPA) with the Indian Army for the sale of power from a solar-hydrogen based microgrid. The project at Chushul in Ladakh will supply clean energy to the Army for a period of 25 years. This microgrid is aimed at replacing the Army’s existing diesel gensets, thus avoiding fossil fuel logistics arrangements and 1,500 tons/year of carbon. This off-grid microgrid project is located at an altitude of 4,400 m where temperatures can dip to -30ºC. Back in October 2024, Indian Defence Minister Rajnath Singh laid the foundation of the project through video conferencing.
Tata Power’s MoU with Rajasthan discoms: Tata Power Company Limited subsidiary Tata Power Renewable Energy Limited (TPREL) has signed a memorandum of understanding (MoU) with the discoms of Rajasthan to drive the adoption of renewable energy and energy conservation in the state. The focus will primarily be on the promotion of the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) in the residential segment. They plan to collaborate on joint campaigns to promote solar energy in cities like Jaipur, Udaipur, Jodhpur, Kota, and Bikaner, with plans to expand statewide. TPREL says the partnership will also offer exclusive pricing and vendor training to ensure quick, efficient solar installations. Among the participating discoms are Jaipur Vidyut Vitran Nigam Limited (JVVNL), Ajmer Vidyut Vitran Nigam Limited (AVVNL), and Jodhpur Vidyut Vitran Nigam Limited (JDVVNL).