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Explainer: Application Process for ALMM Inclusion and Renewal


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					</table><p>Independent power producer <a href="https://ampin.energy/" target="_blank" rel="noopener">AmpIn Energy Transition</a> has secured an investment from Oesterreichische Entwicklungsbank (<a href="https://www.oe-eb.at/en/" target="_blank" rel="noopener">OeEB</a>), the Development Bank of Austria, totaling €25 million (~$26.9 million) in long-term financing.</p>
<p>The capital infusion is expected to aid AmpIn Energy Transition in establishing a 1 GW domestic solar cell and module production facility in Odisha and expanding its renewable energy portfolio.</p>
<p>In October last year, AmpIn Energy Transition <a href="https://www.mercomindia.com/ampin-jupiter-international-solar-module-unit-by-fy25/" target="_blank" rel="noopener">announced</a> a joint venture with Jupiter International to set up a facility to manufacture up to 1.3 GW of solar cells and modules. The facility, which is being established with funds under the government’s Production Linked Incentive (PLI) program, is expected to be commissioned in the financial year 2024-25.</p>
<p>The company has a diverse portfolio spanning 3 GW across 21 states in India and plans to expand it to 10 GW by 2030.</p>
<p>Pinaki Bhattacharyya, MD &amp; CEO of AMPIN Energy Transition, said, “AMPIN is committed to driving India’s energy transition, and our collaboration with OeEB is a pivotal step toward our vision of an energy-independent India. United in this endeavor, we are poised to transform the renewable energy generation &amp; solar manufacturing landscape in India, strengthening the nation&#8217;s commitment to meet its ambitious renewable energy goals by 2030.”</p>
<p>“Supporting India’s transition to renewable energy is not only an important precondition for the country’s continued economic development but also essential for the global fight against climate change. Green finance and comprehensive climate action is at the core of our new strategy. We are proud to partner with AMPIN Energy Transition to support India’s commitment to green and sustainable growth”, comments Sabine Gaber, Member of OeEB’s Executive Board.</p>
<p>Recently, AmpIn Energy Transition <a href="https://www.mercomindia.com/ampin-ppa-nagpur-metros-rooftop-solar" target="_blank" rel="noopener">signed</a> a power purchase agreement (PPA) of 25 years for 6 MW rooftop solar projects with the Maharashtra Metro Rail Corporation for the Nagpur Metro Rail Project.</p>
<p>Under the PLI, AmpIn is eligible to <a href="https://www.mercomindia.com/reliance-renew-tata-power-winners-pli-11" target="_blank" rel="noopener">receive</a> a maximum incentive of ₹1.4 billion (~$17 million) for manufacturing 1 GW of cells and modules.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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AmpIn Energy Secures $27 Million for Solar Manufacturing Facility in Odisha


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					</table><p>China&#8217;s cumulative installed power capacity reached approximately 2.92 TW, a year-over-year (YoY) increase of 13.9%, with solar power accounting for 609.49 GW, a YoY 55.2% jump.</p>
<p>According to China&#8217;s National Energy Administration (<a href="https://english.www.gov.cn/state_council/2014/10/01/content_281474991089761.htm" target="_blank" rel="noopener">NEA</a>), the country added 216.9 GW of solar capacity in 2023, marking a 148 % YoY increase compared to 87.4 GW in 2022.</p>
<p>Major power generation enterprises invested CNY967.5 billion (~$151.17 billion) in power projects, representing a 30.1% YoY increase. Additionally, the investment in power grid projects amounted to CNY527.5 billion (~$82.42 billion), a 5.4% YoY growth.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-62706 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/image_2024_01_30T04_53_42_077Z.png" alt="" width="646" height="392" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/image_2024_01_30T04_53_42_077Z.png 646w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/image_2024_01_30T04_53_42_077Z-300x182.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/image_2024_01_30T04_53_42_077Z-624x379.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/image_2024_01_30T04_53_42_077Z-600x364.png 600w" sizes="(max-width: 646px) 100vw, 646px" /></p>
<p><strong>Energy Storage</strong></p>
<p>According to the NEA&#8217;s announcement, China experienced a substantial rise in energy storage capacity, increasing almost fourfold from 8.7 GW in 2022 to 31.4 GW. This represents a YoY growth of 260%.</p>
<p>The predominant technology utilized for these systems was lithium-ion batteries, although the total also includes other technologies such as compressed air storage, excluding pumped hydro storage facilities.</p>
<p>The NEA had reported nearly doubling energy storage capacity in the first half of the year, reaching 17.3 GW by July.</p>
<p>This boom in battery storage aligns with the provincial government&#8217;s efforts to maximize the capture of energy from intermittent sources like wind and solar.</p>
<p>NEA said that over 20 regions in China have introduced plans for energy storage. Clean energy storage has attracted over CNY100 billion ($14 billion) since 2021.</p>
<p>The increase in renewable energy capacity is expected to allow China to reduce its reliance on coal to meet growing energy demands, potentially indicating that the country has peaked in emissions ahead of its 2030 target.</p>
<p>By injecting $130 billion into the solar sector in 2023, China was <a href="https://www.mercomindia.com/china-to-manufacturing-capacity-until-2026" target="_blank" rel="noopener">poised</a> to control over 80% of the global polysilicon, wafer, cell, and module manufacturing capacity within the next three years, according to Wood Mackenzie.</p>
<p>Production costs of solar modules <a href="https://www.mercomindia.com/chinas-solar-module-production-in-2023" target="_blank" rel="noopener">dropped</a> 42% in China over the past year, settling at $0.15 per watt, providing Chinese manufacturers with a substantial cost advantage over their international counterparts, Wood Mackenzie reported.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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China Adds 217 GW of Solar Power Capacity in 2023


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					</table><p>The Japan Bank for International Cooperation (<a href="https://www.jbic.go.jp/en/" target="_blank" rel="noopener">JBIC</a>) and the Government of India (<a href="https://www.india.gov.in/" target="_blank" rel="noopener">GoI</a>) have signed an agreement to establish a $600 million India-Japan Fund (IJF) to address climate and environmental challenges.</p>
<p>The fund will focus on environmental preservation in India, encompassing sectors such as renewable energy, electric vehicles, waste management, and water management projects.</p>
<p>The government of India will contribute 49% of the target corpus and JBIC the remaining 51%.</p>
<p>The India-Japan Fund is a product of collaboration between the National Investment and Infrastructure Fund Limited (<a href="https://www.niifindia.in/" target="_blank" rel="noopener">NIIFL</a>), India&#8217;s collaborative investment platform for both domestic and international investors, and JBIC, Japan&#8217;s policy-based financial institution.</p>
<p>India’s Ministry of Finance said the fund will focus on investing in environmental sustainability and low carbon emission strategies and aims to be a ‘partner of choice’ to enhance Japanese investments into India further.</p>
<p>JBIC said Japanese companies have faced supply chain disruptions due to the volatile global economic landscape. In this context, India has emerged as an attractive destination for the relocation of production bases and new investments, given its robust economic growth and vast market potential.</p>
<p>The fund aims to support Indian companies and projects collaborating with Japanese counterparts to foster a deeper and more productive relationship between them across various industries.</p>
<p>JBIC said India has reaffirmed its goal of achieving carbon neutrality by 2070 during the COP26 conference in November 2021. The government has taken active steps towards achieving this vision by promoting sustainable practices such as the widespread adoption of renewable energy sources and facilitating the growth of electric vehicles.</p>
<p>Programs like the Swachh Bharat Mission, the Smart City Mission, and subsidies for Waste-to-Energy are pivotal components of India&#8217;s strategy to attain carbon neutrality. JBIC&#8217;s investment in the India-Japan Fund is expected to bolster these environmental preservation efforts in India.</p>
<p>In November 2022, JBIC and NIIFL signed a memorandum of understanding aimed at promoting environmental preservation, low carbon emissions strategies, and the growth of the Indian economy.</p>
<p>In March, government-owned SJVN <a href="https://www.mercomindia.com/sjvn-%E2%82%B99-2-billion-loan-japan-cooperation" target="_blank" rel="noopener">secured</a> a green financing loan of ₹9.15 billion (~$111.2 million) from the JBIC to construct two solar power projects in India.</p>
<p>In the same month, PFC <a href="https://www.mercomindia.com/japan-bank-loans-emissions-reduction-projects" target="_blank" rel="noopener">inked</a> a project loan agreement with the JBIC for a ¥2.6 billion (~$20.2 million) facility.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
<br />
<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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India, Japan Launch $600 Million Fund Focusing on Low Carbon Emission Strategies


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					</table><p>The Union government has launched the unified registration portal for <a href="https://gobardhan.co.in./" target="_blank" rel="noopener">GOBARdhan</a>, with the aim of streamlining the process of setting up compressed biogas CBG/Biogas plants in India. The portal will act as a one-stop repository for assessing investment and participation in the sector nationwide.</p>
<p>The initiative aims to convert waste into wealth and realize the goals of a circular economy.</p>
<p>The portal will offer feasibility for government bodies, cooperatives, and private enterprises to register and obtain a unique registration number for entities interested in establishing biogas/ (CBG)/bio-CNG projects.</p>
<p>Registration on the portal will provide entities access to various benefits and support from the ministries and departments of the government.</p>
<p>In February, the Budget 2023-24 <a href="https://www.mercomindia.com/union-budget-substantial-capital-expedite-green-energy-transition" target="_blank" rel="noopener">allocated</a> ₹100 billion (~$1.23 billion) for the GOBARdhan program.</p>
<p>The Department of Drinking Water and Sanitation (<a href="https://jalshakti-ddws.gov.in/" target="_blank" rel="noopener">DDWS</a>), Ministry of Jal Shakti, serves as the nodal department for GOBARdhan and has developed a user-friendly portal accessible at: <a href="https://jalshakti-ddws.gov.in/" target="_blank" rel="noopener">https://jalshakti-ddws.gov.in/</a></p>
<p>Union Minister for Jal Shakti Gajendra Singh Shekhawat said the launch of the portal marks a milestone in the government&#8217;s waste-to-wealth generation journey and reinforces its commitment to fostering sustainable economic growth.</p>
<p>The government has urged state governments to prioritize the registration of their CBG/Biogas project operators on the portal to avail themselves of the existing and upcoming support from the Union government.</p>
<p><strong>Benefits and Transparency</strong></p>
<p>The newly launched portal serves as a valuable tool for investors and entrepreneurs in the Biogas/CBG sector. It provides comprehensive information on existing and proposed GOBARdhan projects, enabling stakeholders to make informed decisions.</p>
<p>The GOBARdhan initiative also aligns with India&#8217;s climate action goals, including the target of achieving net-zero emissions by 2070.</p>
<p>Given India&#8217;s significant livestock population, the effective utilization of animal waste through the CBG/Biogas sector can be pivotal in the country&#8217;s energy transition.</p>
<p>GOBARdhan also contributes to achieving several Sustainable Development Goals and supports the circular economy.</p>
<p>Recently, the Goa Budget <a href="https://www.mercomindia.com/goas-budget-green-hydrogen-ammonia-facilities" target="_blank" rel="noopener">proposed</a> an additional incentive of 20% to encourage the establishment of renewable biogas plants.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
<br />
<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Waste-to-Wealth Initiative GOBARdhan Goes Digital with Launch of Portal

<p>The International Finance Corporation (<a href="https://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/home" target="_blank" rel="noopener noreferrer">IFC</a>), the financial arm of the World Bank Group, has announced that it will provide a loan of $25 million to <a href="https://nmbbanknepal.com/" target="_blank" rel="noopener noreferrer">NMB Bank</a>, one of Nepal&#8217;s premier banks, to boost green financing projects and small and medium enterprises (SMEs).</p>
<p>According to a press statement released by the IFC, the investment is expected to help expand the SME portfolio to over $1 billion by 2025 and create nearly 50,000 jobs over the next five years. SMEs have been a key engine of growth in Nepal, contributing 20% of gross domestic product (GDP) and creating over 60% of jobs in the country, said the statement. The loan marks IFC&#8217;s first climate-focused lending to a financial institution in Nepal, incorporating the internationally recognized green loan principles.</p>
<p>The project will also build up NMB Bank&#8217;s capacity to identify and evaluate green lending opportunities and increase access to green financing in Nepal over the next five years.</p>
<p>Sunil KC, the chief executive officer, NMB Bank, said, &#8220;NMB is focused on the financing of sustainable projects in the real sector in alignment with the Government of Nepal&#8217;s growth plans. Our investments comprise a balanced mix of real sector exposures which includes hydropower, agriculture, microfinance, infrastructure, tourism, SMEs, and green projects that are key drivers of economic growth and sustainability.&#8221;</p>
<p>He added that the new investment from IFC would add considerable value and help the bank to increase its current portfolio and widen the scope for investment in sustainable and green projects.</p>
<p>Climate finance is limited in Nepal, which is expected to face a further setback due to the reduction in the flow of credit in the wake of the impacts caused by the COVID-19 pandemic.</p>
<p>Wendy Werner, IFC country manager for Nepal, Bangladesh, and Bhutan, said, &#8220;This investment is supporting SMEs and Nepal&#8217;s sustainable development during this economic downtown. IFC believes in the tremendous opportunity for green growth through mobilizing the private sector.&#8221;</p>
<p>She added that the project would help boost access to finance for small and medium-sized enterprises that have been severely affected by the pandemic.</p>
<p>&#8220;SMEs will contribute to Nepal&#8217;s recovery in the aftermath of the pandemic,&#8221; Werner affirmed.</p>
<p>Based on Nepal&#8217;s commitment to the Paris Climate Agreement, IFC estimates the country has climate-smart investment opportunities of $46 billion by 2030. Further, it also said that since 1956, IFC had invested over $150 million in Nepal&#8217;s priority sectors.</p>
<p>Meanwhile, for India, the IFC recently <a href="https://mercomindia.com/ifc-lend-mahindra-renewables-solar-project-rajasthan/" target="_blank" rel="noopener noreferrer">announced its plan</a> to lend $36 million (~₹2.57 billion) for a 250 MW solar project by Mahindra Renewables Private Limited in Rajasthan.</p>
<p>Earlier, IFC and <a href="https://investorfunds.us.hsbc.com/default.fs" target="_blank" rel="noopener noreferrer">HSBC Global Asset Management</a> announced <a href="https://mercomindia.com/hsbc-ifc-emerging-green-bond-fund/" target="_blank" rel="noopener noreferrer">raising</a> $474 million (~₹36 billion) in the third closing of the HSBC Real Economy Green Investment Opportunity GEM Bond Fund. In June 2019, the two entities had <a href="https://mercomindia.com/ifc-hsbc-establish-green-bond-fund/" target="_blank" rel="noopener noreferrer">announced</a> the first global green bond fund aimed at real economy issuers in developing markets, to help in improving accessibility to climate finance and enhance green bond markets. The Real Economy Green Investment Opportunity GEM Bond Fund was expected to raise between $500 million to $700 million through multiple sources to promote climate centric investments in emerging economies like India and Nepal.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/anjana/" class="vcard author" rel="author"><span class="fn">Anjana Parikh</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2019/06/Anjana2.png" width="112" height="121" />Anjana is a news editor at Mercom India. Before joining Mercom, she held roles of senior editor, district correspondent, and sub-editor for The Times of India, Biospectrum and The Sunday Guardian. Before that, she worked at the Deccan Herald and the Asianlite as chief sub-editor and news editor. She has also contributed to The Quint, Hindustan Times, The New Indian Express, Reader’s Digest (UK edition), IndiaSe (Singapore-based magazine) and Asiaville. Anjana holds a Master’s degree in Geography from North Bengal University, and a diploma in mass communication and journalism from Guru Ghasidas University, Bhopal.</p>
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