The Indian developer has secured the revolving fund from 12 international banks. It will use the amount to initially finance its 1.69 GW hybrid portfolio of solar and wind projects to be set up in the Indian state of Rajasthan.

PV installation costs in India are set to increase when a 40% customs duty goes into effect for solar modules from next year, along with a 25% duty on cells.

NTPC is now building a 100 MW floating solar array on a reservoir in the Indian state of Telangana.

The finance ministry has approved the proposal to levy the duty next year. Customs notification of the move will be issued at a later date.

PV installations on canals are common in India, as they provide electricity without occupying land, while reducing evaporation. However, they are still more expensive than ground-mounted PV projects.

Ireland’s Fusion Fuel Green has agreed to set up a demonstrator plant in the Indian state of Tamil Nadu to generate cost-competitive green hydrogen.

In January, India’s cumulative PV capacity reached 38.8 GW. This was enough to surpass wind and make solar the first renewable energy source in the country.

India’s cumulative installed solar capacity stood at 41.6 GW as of Dec. 31, 2020, with 1.29 GW added in the October-December period. Capacity additions in the first quarter of this year could surpass 2 GW.

A numerical study by researchers at India’s Chitkara University has shown enhanced charge extraction in metal-perovskite-metal back-contact solar cell structure through electrostatic doping. The proposed design yielded a 59.4% improvement in power conversion efficiency over previously reported structures.

Solavio Labs has already held three funding rounds to support the development of its new panel-cleaning robot.