100% of project finance loans identified last year were allocated to renewable energy projects. This is a sizeable increase from 2020, when renewable energy loans accounted for 74%. L&T Finance is considered the largest financial institution in 2021, pouring Rs 4,214 crore into the industry. Rajasthan and Gujarat are the biggest beneficiaries of renewable energy loans.
JSW Energy said on Monday that its subsidiary JSW ReNew Energy has commissioned 27 MW of wind power generation capacity in Tuticorin, Tamil Nadu as part of the first phase of its 450 MW wind project. The project has a 25-year power purchase agreement with SECI. In addition to this project, the company is building 1.8 GW of greenfield renewable energy capacity, with a view to reaching 10 GW of capacity ahead of schedule. JSW Neo Energy, a wholly owned subsidiary of JSW Energy, is a vehicle established as part of a business restructuring to own all renewable/green and new energy businesses. Around 2.63 GW of renewable energy projects are currently under construction/in pipeline, with 1.26 GW of wind projects expected to be fully operational within the next 12-18 months.
Adani Green Energy Ltd (AGEL), the renewable energy arm of the Adani Group, has commissioned its third hybrid wind-solar power plant in Jaisalmer, Rajasthan. With this hybrid plant, AGEL now has a maximum operating hybrid power generation capacity of 1,440 MW. The combined operating generating capacity is 450 MW.
The U.S. Commerce Department is expected to make a preliminary decision on whether to impose tariffs on solar panels from four Southeast Asian countries. Solar companies say the threat of tariffs alone is a nationwide project freeze. Solar advocates say the move will delay projects and hurt progress on climate change. A final decision is expected in May.
Amazon has announced the first wind-solar hybrid project in India with Vibrant Energy, a subsidiary of Macquarie Green Investment Group. The two projects represent 300 megawatts (MW) of renewable energy capacity and will be located in the states of Madhya Pradesh and Karnataka. Amazon owns three solar farms in Rajasthan and currently has five utility-scale renewable energy projects in the country. It aims to use 100% renewable energy worldwide by 2025.
Construction on one of Australia's largest wind farms is set to begin after developers secure funding. The first phase of the Golden Plains project involves a 756 MW wind farm, which will begin generating electricity in the first quarter of 2025. For the first time, a renewable energy development in Australia is funding the project before it attracts customers.