A subsidiary of Indian conglomerate Reliance Industries has acquired solar module manufacturer REC Group and a 40% stake in EPC and O&M solutions provider Sterling and Wilson.
Indian solar manufacturer Emmvee has signed a memorandum of understanding with the government of Karnataka to set up a 3GW cell and module production plant in the state.
Indian solar manufacturer Premier Energies has secured an INR 2 billion (US$27 million) investment from private equity firm GEF Capital Partners to support its planned increases in cell and module production.
A new support scheme from India’s government to boost the domestic manufacture of PV modules has seen 18 bidders submit 54.8GW of applications, according to consultancy JMK Research & Analytics.
The Indian state of Tamil Nadu is planning to develop 4GW of additional solar projects as well as new battery energy storage systems, according to local media.
India-based renewables developer Adani Green Energy has raised US$750 million through a green bond offer, securing the debt and equity needed to reach a 25GW renewables target.
Reliance Industries is close to acquiring solar module manufacturer REC Group, according to media reports in India, as part of the conglomerate’s expansion into the renewable energy sector.
Azure Power is on track to increase its operating solar capacity by at least a third this fiscal year following a first quarter that saw the independent power producer (IPP) return to profitability.
