Solar developer Adani Green Energy has announced plans to buy SoftBank-backed renewable energy company SB Energy Holdings a in a deal with an enterprise value of US$3.5 billion.
The US has retained its title as the top market for clean energy investments in audit firm EY’s biannual Renewable Energy Country Attractiveness Index (RECAI), but India, the UK and France are catching up.
India presents an “enormous potential” for the development of solar and wind hybrid power systems, with more than 12.3GW of collocated tenders issued in the country to date.
The Indian government has approved production-lined incentives for the country’s solar module manufacturing sector to help the country add an extra 10GW of solar power generation capacity over the next five years.
Indian solar power producer Azure Power has sold its rooftop solar business to Radiance Renewables as the company aims to focus more on projects with higher returns.
COVID-19-induced project delays impacted India’s solar power transition last year, but 2021 is still set to be a “landmark year” for the resource, according to new research.
India’s renewables sector will need to garner investments of around US$500 billion in order to meet its target of 450GW of clean energy capacity by the end of the decade.
