Sembcorp India has a diverse portfolio of conventional and renewable energy assets totaling over 5 GW, currently in operation and under construction. Sembcorp Green Infra, a subsidiary of Sembcorp India, oversees the company’s renewable energy portfolio in India, comprising more than 2.3 GW of wind and operational solar power assets or under construction across various regions in the country. In an exclusive interview with Mercom India, A. Nithyanand, Business Head – Renewables, Sembcorp India, talked about the market conditions over the past few years and the company’s plans for future growth in India.

Aerem, an Indian solar financing startup, has secured $5 million (~₹413 million) in a pre-Series A funding round to help finance its upcoming product offerings. The investment was led by Avaana Capital, a climate-technology investor, and included participation from Blume Ventures. The funding round involved $1.5 million (~₹123.92 million) in debt financing from financial institutions.

Government-owned oil marketing company Indian Oil Corporation (IOC) has said it would consolidate its current green assets under one umbrella to bolster the expansion across all verticals, including biofuels, renewables, green hydrogen, carbon offsets, and carbon capture, utilization, and storage. Subsequently, the IOC board approved the formation of a wholly-owned subsidiary, subject to the approval of NITI Aayog and the finance ministry. The subsidiary would help the company expand its operations into low-carbon, new, clean, and green energy businesses. 

The government’s expenditure on various programs promoting solar energy was 63% higher at ₹32.4 billion (~$392 million) in the current financial year (FY2022-23) compared with four years ago, Minister for New and Renewable Energy (MNRE) R.K. Singh said in the Rajya Sabha. The government has steadily raised its expenditure since FY 2019-20 when it stood at ₹19.9 billion (~$240.8 million). However, the Covid-19-induced lockdown in FY 2020-21 saw the expenditure slump to just ₹12 billion (~$144.4 million). The minister said India added nearly 34.8 GW of solar capacity between April 1, 2019, and January 31, 2023. It includes 25.4 GW of ground-mounted, 6.4 GW of rooftop, and 1.4 GW of distributed capacity.

The Assam Cabinet has given in-principle approval for setting up 620 MW of renewable energy projects under a joint venture between the Assam Power Generation Corporation (APGCL) and Oil India. The projects include three agrivoltaic projects with a cumulative capacity of 250 MW. These projects are expected to generate 1,733 employment opportunities during the construction and operation phases. Around 125 small producer organizations and 1,250 farmer families will also benefit from the proposed agrivoltaic projects.

India’s edge in renewable generation and the recent discovery of vast lithium reserves, along with deep cost reductions in clean technology, can enable a pathway for cost-effective energy independence by 2047, a latest Berkeley Lab study has found. The study titled Pathways to Atmanirbhar Bharat, released by the U.S. Department of Energy’s Lawrence Berkeley Lab examined India’s three most energy-intensive sectors – power, transport, and industry. The study determined that achieving energy independence will generate significant economic, environmental, and energy benefits.

A team of material scientists at the UCLA Samueli School of Engineering in California designed a solar roof with semi-transparent solar cells for a miniature greenhouse prototype, producing sufficient energy from sunlight to grow plants or crops. In the study published in the scientific journal Nature Sustainability, the experts incorporated a layer of naturally occurring chemical L-glutathione in the solar cells, which is generally sold as a dietary supplement.

The European Parliament adopted the revised Energy Performance of Buildings Directive, mandating the use of solar rooftop systems for all new buildings by 2028 and renovated residential buildings by 2032. The directive aims to reduce greenhouse gas (GHG) emissions and energy consumption in the EU building sector by 2030 and make it climate neutral by 2050. The European Commission had previously stated that the buildings in the region are responsible for 40% of the energy consumption and 36% of GHG emissions.

Global investments in energy transition technologies achieved a historic milestone by reaching a record high of $1.3 trillion in 2022, a 19% increase over 2021 and a 50% jump from the pre-pandemic levels of 2019, according to the International Renewable Energy Agency (IRENA). Despite the record-high investments, it is crucial to note that annual investments must increase over four-fold to stay on course toward the 1.5°C scenario, the agency said in a report.

Researchers at Swansea University in Wales, United Kingdom, have established a low-cost and scalable carbon ink formulation capable of unlocking the potential for the manufacture of perovskite solar cells at scale. The team said they used slot die coating in a roll-to-roll process and developed a way to create a “fully printable” perovskite photovoltaics. The study found devices with carbon electrodes provided similar photovoltaic performance to the conventional evaporated gold electrodes with power conversion efficiencies of 13-14% and the additional benefits of outperforming at higher temperatures and having better long-term stability.