The 50:50 JV named ‘EverSource Capital’ will manage an initial fund named the Green Growth Equity Fund (GGEF), which has the backing of the India and UK governments.
UK investor Downing, working with its investment partner Armstrong Energy Global, has developed and constructed 20MW of ‘open access’ solar projects in the South Indian states of Telangana and Andhra Pradesh.
According to GTM Research, global solar PV installations are expected to surpass 104GW in 2018, despite the top four markets, including China, forecasted to decline collectively by 7%.
India-based EPC firm Sterling and Wilson has forayed into hybrid power plants and energy storage solutions and is already in advanced discussions for its first such projects in Africa and Europe.
Indian prime minister Narendra Modi will visit the UK on 18 April during which he will welcome the European country to join the International Solar Alliance (ISA) as its newest member.
UPDATE: Major Indian solar EPC firm Mahindra Susten has put in the lowest bid for a solar and energy storage tender in the Andaman and Nicobar Islands for the second time, having seen its victory in the original auction torn away by authorities as they explored other sources of power generation.
Delhi-headquartered renewable energy firm Hero Future Energies has completed India’s first large-scale solar and wind energy hybrid project in the state of Karnataka. PV Tech reports from the inauguration and interviews Hero's chairman and managing director Rahul Munjal.
