ACME Solar Holdings’ ₹29 Billion IPO to Hit the Market on November 6, 2024

Jodhpur DISCOM Tenders 333 MW Solar Projects Under PM KUSUM

CIE Automotive to Procure Power from ReNew’s 7.8 MW Captive Solar Project

John Cockerill to Supply Electrolyzers to AM Green’s Ammonia Project

Varroc to Procure Power from AMPIN’s 27 MW Solar Project in Maharashtra

JinkoSolar’s Revenue Drops 23% YoY in Q3 Due to Lower Module Prices

First Solar Revenue Falls Short in Q3, Revises 2024 Guidance Amid Sector Pressures

Tata Power Records 20th Consecutive Quarter of Profit in Q2 FY 2025

SECI Floats Tender to Procure 1.2 GW Round-the-Clock Renewable Power

Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief


					<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/2023/09/amazon_polly_58620.mp3?version=1694665927">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.mercomindia.com/government-cost-for-critical-mineral-exploration" target="_blank" rel="noopener"><strong>In a bid to enhance the exploration of critical minerals within the country, the government of India announced a 25% incentive on the approved project cost for exploration agencies, Pralhad Joshi, the Union Minister for Mines and Coal, has said.</strong></a> The decision aims to expedite the discovery and extraction of critical minerals, reduce the country’s dependence on imports, and foster self-sufficiency in these vital resources. Critical minerals are integral to contemporary industries, encompassing electronics, defense, and renewable energy.</p>
<p><a href="https://www.mercomindia.com/juniper-green-energy-from-at-capital-group-vitol" target="_blank" rel="noopener"><strong>Juniper Green Energy, an independent renewable energy power producer and operator of solar, wind, and hybrid power projects, received an investment of $150 million from AT Capital Group and Vitol to support the expansion of its operational capacity.</strong></a> The two investors had invested $200 million in Juniper nearly two years ago. With an operational portfolio of nearly 800 MW and an under-construction capacity of 435 MW, Juniper Green expects to solidify its position as a key player in the Indian renewable energy sector.</p>
<p><a href="https://cms.mercomindia.com/discoms-requisition-power-common-pool-expiry-ppa" target="_blank" rel="noopener"><strong>The Ministry of Power said distribution companies can procure power from the common pool after the expiry of the power purchase agreement (PPA), as per the provisions of the program issued by it in April.</strong></a> In April, the Ministry issued a program for pooling tariffs for coal or gas-based thermal power plants whose PPAs have expired in the backdrop of increasing demand for electricity at a time when India is transitioning to non-fossil fuel sources. The program was meant to ensure the availability of adequate resources in the grid for peaking, balancing, flexing, and redistributing benefits such as reliability and cost-effectiveness among the beneficiaries.</p>
<p><a href="https://www.mercomindia.com/europes-solar-industry-warns-bankruptcies" target="_blank" rel="noopener"><strong>The European solar manufacturing industry, represented by SolarPower Europe, wrote to the European Commission, highlighting a critical issue regarding the low prices of photovoltaic (PV) modules imported from China into Europe.</strong></a> SolarPower Europe reports that solar PV module prices have plummeted by over 25% to €0.15 (~$0.16)/W since the start of the year. European PV glass and module manufacturers are struggling to sell their products under these circumstances, and there is a looming risk of many European manufacturing companies facing severe difficulties, including insolvency, if swift action is not taken.</p>
<p><a href="https://www.mercomindia.com/powergrid-wins-bid-power-evacuation-project-in-rajasthan" target="_blank" rel="noopener"><strong>The Power Grid Corporation of India emerged as the successful bidder for the execution of the Inter-State Transmission System Project to evacuate power from Renewable Energy Zones in Rajasthan for 20 GW, Phase-III Part C1.</strong></a> The letter of intent was formally received on September 11, 2023. The scheduled commercial operation date for the overall project is 18 months from the effective date. The project is to be undertaken on a build, own, operate, and transfer basis, encompassing several critical components, including establishing a novel 765/400 kV substation with the integration of STATCOM technology in Ramgarh.</p>
<p><a href="https://www.mercomindia.com/combining-stress-tests-perovskite-solar-cells" target="_blank" rel="noopener"><strong>Recent findings from a study by the U.S. Department of Energy’s National Renewable Energy Laboratory emphasize the importance of subjecting perovskite solar cells to a combination of stress tests simultaneously to best predict their real-world functionality.</strong></a> One of the key takeaways from the research is that outdoor conditions place considerable stress on solar cells, leading to efficiency losses and reduced power production over time. Solar cells, including those based on perovskite materials, must endure a range of harsh environmental conditions, such as humidity, heat, and varying light levels.</p>


Daily News Wrap-Up: Ministry Announces 25% Incentive for Critical Minerals Explorations


					<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/2023/09/amazon_polly_58599.mp3?version=1694595949">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The European solar manufacturing industry, represented by <a href="https://www.solarpowereurope.org/" target="_blank" rel="noopener">SolarPower Europe</a>, has written to the European Commission, highlighting a critical issue regarding the low prices of photovoltaic (PV) modules imported from China into Europe.</p>
<p>SolarPower Europe reports that solar PV module prices have plummeted by over 25% to €0.15 (~$0.16)/W since the start of the year. European PV glass and module manufacturers are struggling to sell their products under these circumstances, and there is a looming risk of many European manufacturing companies facing severe difficulties, including insolvency, if swift action is not taken.</p>
<p>Despite efforts by the European Commission and member states to support the resurgence of the European PV manufacturing industry, Chinese PV manufacturers are intentionally undercutting prices, undermining these initiatives, the representative body said in its letter. This raises doubts about the effectiveness of EU objectives and the Net-Zero Industry Act in strengthening the EU&#8217;s PV supply chain.</p>
<p>The letter highlights the substantial increase in European expenditures on solar PV imports, surging from approximately €6 billion (~$6.4 billion) in 2016 to over €25 billion (~$27 billion) in the last year. European ports, primarily in Rotterdam, now hold a surplus of Chinese PV modules, exceeding Europe&#8217;s annual demand. At the start of 2023, warehouses contained around 40 GW of Chinese PV modules, equivalent to Europe&#8217;s annual installed volume in 2022.</p>
<p>Imports of Chinese PV modules have continued to surge, projected to reach a record 120 GW in 2023, surpassing expected installations in the same year, just over 60 GW. The organization claimed that this influx has severely impacted European PV manufacturers, their expansion plans, and prospects for new manufacturers within the EU.</p>
<p>The letter claims that Chinese companies aggressively offer European customers two-year contracts with prices consistently undercutting €0.15(~$0.16)/W. This has resulted in a significant decline in European PV module production, with manufacturers left with over 500 MW of unsold modules, equivalent to more than 30% of their annual manufacturing capacity.</p>
<p>The crisis extends to producing ingots and wafers essential for the PV industry. <a href="https://www.crystals.no/" target="_blank" rel="noopener">Norwegian Crystals</a>, a notable ingot producer, filed for bankruptcy, while <a href="https://www.norsun.no/" target="_blank" rel="noopener">NorSun AS</a> announced production halts and layoffs due to plummeting prices in Europe.</p>
<p>European PV manufacturers face a challenging choice: continue production shutdowns and risk bankruptcy by year-end or migrate to regions like the U.S., which support the revival of their PV industry. Unlike the departure of the European solar industry from the U.S. in 2012 which was accompanied by numerous bankruptcies, according to the group, European PV manufacturers are now welcomed in the U.S., thanks to initiatives like the Inflation Reduction Act and anti-dumping tariffs.</p>
<p><strong>Demands by SolarPower Europe</strong></p>
<p>The letter concludes with three urgent demands for action:</p>
<ul>
<li><strong>Exclusion of Forced Labor Products</strong>: SolarPower Europe calls for the immediate exclusion from the European market of solar modules produced with forced labor, emphasizing the rejection of products associated with modern slavery.</li>
<li><strong>Emergency Acquisition of PV Modules</strong>: An expedited emergency measure to address the forced price decline caused by Chinese trade practices. This could involve acquiring European PV manufacturers&#8217; solar module inventories through competitive bidding processes within frameworks such as the Temporary Crisis and Transition Framework (TCTF) or the Ukraine Facility framework for aid and energy support in Africa.</li>
<li><strong>Promotion of European PV Production</strong>: Encouragement for European PV installers and project developers to incorporate a minimum share of European production along the entire value chain. This should be accompanied by the definition of European solar PV modules and non-financial criteria in PV auctions to reward environmental and social benefits. The industry urgently seeks assurance regarding the uptake of domestic production, starting no later than 2026.</li>
</ul>
<p>Last October, CEOs from companies such as SolarPower Europe, First Solar, BayWa r.e., Wacker Chemie AG, and Iberdrola Group <a href="https://www.mercomindia.com/companies-urge-eu-boost-investment-solar-manufacturing" target="_blank" rel="noopener">urged</a> the European Commission to call for action to boost investment in the continent’s solar photovoltaic industrial base and reinforce the Commission’s solar deployment and energy security ambitions.</p>
<p>In June last year, energy storage company Fluence Energy and nine other energy market organizations also <a href="https://mercomindia.com/european-union-urged-to-rethink-the-structure-of-its-energy-markets/" target="_blank" rel="noopener">wrote</a> to European policymakers to rethink the structure of European energy markets and the REPowerEU plan. They outlined why Europe needs a rapid rollout of technologies to increase grid flexibility and strong targets and policy frameworks to encourage the near-term adoption of these technologies.</p>


Europe’s Solar Industry Warns of Bankruptcies Over Cheaper Chinese Imports

solarpower-europe

Get the most relevant India solar and clean energy news.

RECENT POSTS