R K Singh

India is set to emerge as one of the largest solar module manufacturers and has the fastest growing capacity in renewable energy, Union Power Minister R K Singh said on Tuesday.
Stating that India has a considerable existing solar manufacturing capacity, he pointed to "even larger capacities under construction, including polysilicon".
"India is poised to become a global powerhouse in renewable energy, including green hydrogen, fostering a robust ecosystem.
"With one of the largest manufacturing ecosystems in wind energy and rapidly growing capacity in solar energy, India is the world leader in this regard," Singh said while speaking at an ICRA event in the national capital.
The minister said the country has the fastest growing capacity in renewable energy and is also set to emerge as one of the largest solar module manufacturers.
India has achieved the Nationally Determined Contribution (NDC) target of 40 per cent capacity from renewable sources, he said.
Further, he said the cou

First Solar

PLI scheme winner says working with local players to develop supply chain of parts in India

Screenshot

NTPC places global tender to procure 1.5 GW of solar modules

Solar panel. solar power

The changes in the ALMM for PV modules would improve the ease of doing business and aid in ramping up local production of solar PV modules, said BS Bhalla, Secretary of MNRE

Renewable energy

Avaada Group, backed by Thailand's oil and gas major PTT Pcl, was also awarded a grant, according to its chairman, Vineet Mittal

Solar Energy, Renewable Energy, Green Energy

India's solar module manufacturing capacity is expected to reach approximately 95 GW by the end of 2025, according to Mercom Capital.
The solar module manufacturing capacity as of September last year was 39 gigawatt (GW), the research firm said in its latest report.
"India's solar module manufacturing capacities announced...39 GW at the end of September 2022 and is expected to reach approximately 95 GW by the end of the calendar year (CY) 2025," the report titled 'State of Solar PV Manufacturing in India' said.
Indian PV (photovoltaic) manufacturers are strategically poised to expand their production capacities and adopt new technologies in the coming years on the back of government incentive programmes, the report said.
States are promoting domestic solar manufacturing through fiscal and non-fiscal incentives under industrial, electronics, and solar policies, it added.
In September 2022, the Cabinet approved a Rs 19,500-crore production linked incentive (PLI) scheme on 'national 

Solar panel, Solar power

Gujarat-based Goldi Solar is planning to invest Rs 5,000 crore by 2025 to expand its module manufacturing capacity to 6 gigawatt, the company's Managing Director Ishver Dholakiya said on Monday.
At present, the total module manufacturing capacity of its plants in Pipodara and Navsari, Gujarat is 2.5 gigawatt (GW), Dholakiya told reporters during a press conference here.
"We have plans to infuse over Rs 5,000 crore as part of expansion plans to increase module manufacturing from 2.5 GW to 6 GW," he said while launching HELOC Plus (high-efficiency low on carbon) module series with Heterojunction technology.
The renewable energy business expansion will be channelled into auxiliary production, including aluminium frames, junction boxes, backsheet, etc, Dholakiya said.
The investment will be made by the year 2025, he said, adding his company also aims to recruit over 4,500 people across various functions, which will increase its workforce to over 5,500.
"We plan to hire 25 per cent of

RK Singh

Union Power Minister R K Singh on Wednesday exuded confidence that the second version of production linked incentive (PLI-II) scheme for solar manufacturing worth Rs 19,500 crore, will help save close to Rs 1.4 lakh crore forex every year.
The Union Cabinet, chaired by Prime Minister, Narendra Modi, approved the implementation of the Production Linked Incentive Scheme (Tranche II) on National programme on High-Efficiency Solar PV Modules', with an outlay of Rs 19,500 crore for achieving a manufacturing capacity of 65 Giga Watt (GW) scale in High-Efficiency Solar PV Modules.
The government has expanded the scope under PLI-II as the domestic manufacturing capacity will also boost exports. The PLI-I for solar modules was worth Rs 4,500 crore, which was brought with intent to meet domestic requirement mainly as India has been importing solar equipment.
"This (PLI-II for solar module) will lead to a saving of Rs 1.40 lakh crore saving because of domestic manufacturing. And it will also .

SpiceJet

The Cabinet on Wednesday approved the national logistics policy, which aims at reducing transportation cost and improve global performance of the sector.

renewable energy

The Cabinet on Wednesday approved a Rs 19,500-crore production linked incentive (PLI) scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector.
One of the the benefits expected from the PLI scheme is that about 65,000 MW per annum manufacturing capacity of fully and partially integrated solar PV modules would be installed.
Giving details about the Cabinet decision, information and broadcasting minister Anurag Thakur said that about 2 lakh direct jobs would be created in the sector.
The national programme aims to build an ecosystem for manufacturing of high efficiency solar PV modules in India and reduce import dependence in the area of renewable energy.
The initiative is expected to reduce import substitution of about Rs 1.37 lakh crore.
Solar PV manufacturers will be selected through a transparent selection process. PLI will be disbursed for 5 years after commissioning of solar PV manufacturing plants and s

Chart

Both are cogs in the wheel to help India install 500 gigawatts (Gw) of non-fossil fuelled power by 2030

solar power, renewable energy

Sources said leading project developers, including state-owned NTPC, were not getting enough domestic suppliers for their tenders to procure solar modules

The firm produces solar photo-voltaic modules and is an integrated solar energy solutions provider offering EPC services, and operations and maintenance services

R K Singh, Union power minister

There are "no plans" to review the basic customs duty (BCD) levied on solar modules and cells, Union Power Minister R K Singh has said.

Solar energy

The Ministry of New & Renewable Energy (MNRE) has said that the finance ministry has agreed to its proposal to impose basic custom duty (BCD) of 40 per cent on solar modules and 20 per cent on solar cells from April 1, 2022.
An office memorandum of the MNRE said the proposal "to impose BCD on solar cells and modules (without grandfathering of bid out projects) has been agreed to by the Ministry of Finance".
According to the memorandum, the rate of BCD would be zero on solar modules as well as cells till March 31, 2022 and from April 1, 2022, the rate of BCD would be 40 per cent and 20 per cent, respectively.
The ministry has directed to inform all RE (renewable energy) implementing agencies and other stakeholders to take note of the duty rates and to include provisions  in their bid documents, so that bidders take these into account while quoting  tariffs, in all bids where the last date of bid submission is subsequent to (issue of) this memorandum.
It also stated that in all such

solar cells

There is already safeguard duty of 15 per cent levied on the imported solar cells and modules

Representative image

The Indian unit of Germany's Enerparc had 30 of its containers stuck at Chennai for three weeks

Not thinking about an IPO as of now, says chairman

Dr Krishna Ella

Higher discounts on Russian oil this month may help Indian refiners reduce crude sourcing costs and trim fuel marketing losses even as Brent crude crosses $95/barrel, weakening the country's finances

oil refinery, crude oil, oil

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

India Canada

Electronics & IT Minister says India can emerge as a global leader in this category

Ashwini Vaishnaw

NABARD to issue social sector bonds on Tuesday

Bonds, Govt bond

The Supreme Court on Friday said it would list pleas on the issue of marital rape for hearing in mid-October. The pleas raise the legal question of whether a husband enjoys immunity from prosecution for the offence of rape if he forces his wife, who is not a minor, to have sex.
A bench comprising Chief Justice D Y Chandarchud and Justices J B Pardiwala and Manoj Misra took note of the submissions of lawyer Karuna Nundy that the pleas needed to be heard.
We are in midst of constitution bench hearings. We can list this after the constitution bench matters are wrapped up, the bench said and asked Solicitor General Tushar Mehta and other lawyers how much time they would take in advancing their arguments.
I will take two days. This (issue) has social ramifications, the law officer said. A counsel for the petitioners said they would like to argue for three days.
Then it can be listed for hearing in April next year! the CJI quipped and later said the pleas would be listed for hearing in .

Supreme Court, Manipur violence

A combined 27.85 million shares, representing nearly 60 per cent of free-float equity of PNB Gilts, have so far changed hands on the NSE and BSE

Centre looks to issue G-secs without foreign limits in first half of FY21

G-secs

Recently, the CBI has filed a chargesheet in the alleged Land for Job scam case against Lalu Prasad Yadav including his son Tejashwi Yadav and others

corporate governance, MCA, company, audit firms, fraud, scam, audit

Pakistan also added an extra spinner to their World Cup squad, bringing in Usama Mir, who made his ODI debut against New Zealand early this year

Hasan Ali

A court here on Friday extended the judicial remand of TDP chief N Chandrababu Naidu in the case pertaining to AP Skill Development Corporation scam till September 24.
Additional Advocate General Ponnavolu Sudhakar Reddy told PTI that the special court for Anti-Corruption Bureau here extended the former Chief Minister's remand by two days.
Meanwhile, the High Court has scheduled the hearing on the FIR quash petition filed by Naidu at 1:30 pm today.
Chandrababu Naidu was arrested on September 9, for allegedly misappropriating funds from the Skill Development Corporation, leading to an alleged loss of over Rs 300 crore to the state exchequer.
He is currently lodged in the Rajamahendravaram central prison.

Telugu Desam Party (TDP) President N Chandrababu Naidu

As many as 39 persons were injured, one of them seriously, when the private bus carrying them to the venue of Prime Minister Narendra Modi's rally in Bhopal rammed into a stationary truck in Khargone district, police said on Monday.
The incident occurred under the Kasrawad police station limits on Sunday night, an officer said.
The prime minister is scheduled to address a mega meet of BJP workers in the Madhya Pradesh capital around Monday noon.
Sub-Divisional Officer of Police (SDOP) Manohar Gawli said the private bus rammed into the stationary truck near Gopalpura village.
Khargone District Hospital's civil surgeon Amar Singh Chouhan informed that 39 injured people were brought to the hospital.
"Most of the injured persons were discharged after initial treatment while one of them, who was seriously injured, was referred to Indore for further treatment," he said.
Chouhan said the injured persons informed doctors that they were going to Bhopal to attend the PM's function when the

accident

Sharks are back with another season of Shark Tank India. Shark Tank India's official Instagram account shared the information. The show is likely to start in December or January

Shark Tank season 3 shooting begins

The Union Public Service Commission (UPSC) Naval Academy Examination (II) and National Defence Academy 2023 result can be accessed at upsc.gov.in and upsconline.nic.in

Results, Exam results

The CBI has registered a fresh FIR against IL&FS Transportation Network Ltd and its step-down subsidiary Spain-based Elsamex SA for allegedly misappropriating credit facilities to the tune of Rs 239 crore by cheating and diverting funds, officials said on Monday.
India Exim Bank had sanctioned a credit limit of Euro 35 million to Elsamex which is also a wholly owned subsidiary of Singapore-based ITNL International Pte Ltd in 2015 for securing and executing overseas contracts.
IL&FS Transportation is already facing a CBI probe for causing a loss of over Rs 6,524 crore to a Canara Bank-led consortium.
In 2016, a consortium of Elsamex and ITNL won the bid for an Ethiopian project to design, manage and maintain the work of the Nekemte Bure Road upgrading project under an output and performance-based road contract.
The project needed disbursal of certain mobilisation advances, which were to be secured by guarantees sanctioned by Exim Bank. So, Euro 32.60 million was allocated under

financial fraud investigation, audit and analysis

Amazon Great Indian Festival sale page is now live. The date of the festive sale is not officially announced yet. It is expected that the sale may begin on October 11, 2023

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