Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million

Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

Indian Oil Issues Empanelment Tender for Solar Power Projects

Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/11/amazon_polly_60120.mp3?version=1699333782">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>According to the latest International Energy Agency&#8217;s (<a href="https://www.iea.org/" target="_blank" rel="noopener">IEA</a>) World Energy Outlook, manufacturing capacity for solar modules is rapidly growing and has the potential to surpass 1,200 GW per year by the end of this decade.</p>
<p>The report points out the potential emergence of a new clean energy economy driven by solar PV technology and electric vehicles (EVs). It notes that the investment in clean energy has experienced a 40% surge since 2020.</p>
<p><strong>Solar Manufacturing&#8217;s Global Impact</strong></p>
<p>Over the last decade, solar manufacturing has grown exponentially, driven by the increasing demand for clean energy. Investments in the pipeline are set to elevate global solar module manufacturing capacity from 640 GW in 2022 to over 1,200 GW by 2030.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-60123 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Picture1.png" alt="" width="655" height="455" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Picture1.png 655w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Picture1-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Picture1-650x452.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Picture1-624x433.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Picture1-600x417.png 600w" sizes="(max-width: 655px) 100vw, 655px" /></p>
<p>The manufacturing of solar PV modules has expanded even faster than deployment, resulting in a drop in utilization rates from around 60% to under 40% in 2022, well below the healthy 70% level for a mature industry.</p>
<p>Despite the projected rise in solar PV deployment from 220 GW in 2022 to about 500 GW in 2030, the utilization rate remains under 40%. Optimizing solar manufacturing capacity offers a substantial opportunity to speed up solar PV deployment and energy transitions.</p>
<p>Solar manufacturing is currently highly concentrated in five countries, led by China, accounting for over 90% of global capacity. The other four are Vietnam (5% of the global market), India (3%), Malaysia (3%), and Thailand (2%). The next five leading solar manufacturers – the United States, Korea, Cambodia, Türkiye, and Chinese Taipei – each account for around 1% of the global total, as does the European Union.</p>
<p>Over 100 countries implemented solar PV projects in 2022, mostly relying on imported panels, with China being the primary exporter. Plans for additional capacity suggest that manufacturing will stay concentrated, emphasizing the importance of trade for many markets.</p>
<p>China plans to add another 500 GW of solar module manufacturing capacity, India aims to expand, Southeast Asia will remain an essential exporter, the U.S. is boosting production capacity, and the European Union plans to double its manufacturing.</p>
<p>By scaling up solar PV deployment, an additional 800 GW of solar PV could be deployed in 2030, equivalent to the NZE Scenario&#8217;s level.</p>
<p>According to another report from the IEA, global investments in clean energy could <a href="https://www.mercomindia.com/global-investments-clean-energy-1-8-trillion-2023-iea" target="_blank" rel="noopener">reach</a> an unprecedented $1.8 trillion in 2023, but this must increase significantly to about $4.5 trillion annually by early 2030 to align with the NZE scenario.</p>
<p>The IEA said in June that global renewable capacity additions are set to <a href="https://www.mercomindia.com/iea-renewable-additions-107-gw-2023" target="_blank" rel="noopener">soar</a> by an unprecedented 107 GW to over 440 GW in 2023.</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>
</div>
<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>
</div></div><div class="clearfix"></div></div></div>

Global Solar Module Manufacturing Capacity to Exceed 1,200 GW by 2030: IEA

<p>Shapoorji Pallonji Infrastructure Capital (<a href="http://www.spinfra.co.in/sp-infra/" target="_blank" rel="noopener noreferrer">SP Infra</a>), a part of the Shapoorji Pallonji Group and <a href="https://www.kkr.com/" target="_blank" rel="noopener noreferrer">KKR</a>, a global investment firm, have signed an agreement under which the SP Infra will sell five of its operational solar energy assets to KKR for ₹15.54 billion (~$204 million).</p>
<p>The portfolio comprises 169 MW of solar assets in Maharashtra and 148 MW in Tamil Nadu, totaling 317 MW capacity.</p>
<p>According to the company’s statement, “India is a key part of KKR’s Asia Infrastructure strategy, and this announced transaction is the firm’s second investment in the country as part of its dedicated Infrastructure strategy.”</p>
<p>David Luboff, head of Asia Pacific Infrastructure at KKR, said, “We are truly pleased to extend our infrastructure franchise in Asia and India through this investment in a world-class portfolio of fully operational solar energy projects. Given the growing demand across the Asia Pacific for sustainable energy solutions, we also see this as a great example of how KKR can bring capital and expertise to assets to help meet the demand for infrastructure development. Looking ahead, we are excited to explore even more renewable energy opportunities in India and overseas.”</p>
<p>According to the press statement, India is a vital part of KKR’s Asia Infrastructure strategy, and this announced transaction is its second investment in the country. KKR has made its investment through its infrastructure fund, the statement added.</p>
<p>Edelweiss Financial Services acted as the exclusive financial advisor to SP Infra while Khaitan &amp; Co. and PwC acted as its legal and tax advisors.</p>
<p>Sanjay Nayar, CEO of KKR India, added, “Given the government’s ambitious target of achieving 175 GW of renewable energy capacity by 2022, we believe this is an attractive time to invest in this portfolio and provide even greater solar energy solutions to communities across India.”</p>
<p>In April 2019, Actis <a href="https://mercomindia.com/actis-acquires-194-mw-solar-assets-shapoorji-pallonji/" target="_blank" rel="noopener noreferrer">acquired</a> 194 MW of operating solar power assets from Shapoorji Pallonji Infrastructure Capital through Sprng Energy, its renewable energy platform in India. Out of the 194 MW, 144 MW capacity is located in Telangana and a 50 MW project in Rajasthan.</p>
<p>According to Mercom’s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener noreferrer">India Solar Project Tracker</a>, Shapoorji Pallonji has 700 MW of solar portfolio. Of this, nearly 300 MW is in operation, and 400 MW capacity is currently under development.</p>
<p>&nbsp;</p>
<p>Image credit: Renew Power</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>
</div></div><div class="clearfix"></div></div></div>

Investment Firm KKR to Acquire 317 MW of Solar Assets from Shapoorji Pallonji

global-investment

Get the most relevant India solar and clean energy news.

RECENT POSTS