Latest news with #solarPV
Times of Oman
a day ago
- Business
- Times of Oman
India records highest growth in power generation after US & China in last five years: IEA
New Delhi: India has emerged as a country with the third-largest growth in power generation capacity globally over the past five years, according to the latest report by the International Energy Agency (IEA). Only China and the United States surpassed India in power generation growth during this period. It said "India has seen the third-largest growth in power generation capacity in the world after China and the United States". The report highlighted that India's electricity demand has been rising sharply due to several factors. These include the expansion of commercial and residential spaces, increased ownership of air conditioners and other household appliances, and growing demand from industries. To meet this growing demand, power generation in the country has expanded across all energy sources. The report mentioned that a major driver of this expansion has been the strong push towards renewable energy. The report noted a significant increase in investments in clean energy, especially solar photovoltaic (PV) projects. In fact, solar PV alone accounted for more than half of the total non-fossil energy investment in India over the past five years. In 2024, as much as 83 per cent of power sector investment in the country went into clean energy initiatives. India was also the largest recipient of development finance institution (DFI) funding for clean energy in 2024. The country received around USD 2.4 billion in project-specific funding aimed at boosting clean energy generation. In terms of foreign investment, India has seen a steady rise in foreign direct investment (FDI) in the power sector. FDI reached USD 5 billion in 2023, nearly twice the level seen before the COVID-19 pandemic. This growth is partly driven by government policies that allow 100 per cent FDI in all areas of electricity generation (except nuclear power) and transmission infrastructure. However, the report also pointed out that foreign portfolio investment in India's energy sector has seen a decline in the past two years. This drop is attributed to a mix of macroeconomic and sector-specific challenges, though the long-term trend remains positive.
Yahoo
2 days ago
- Business
- Yahoo
Founder Group and GCL Systems sign $220m renewable energy MoU
Founder Group has entered a memorandum of understanding (MoU) with GCL Systems Integration Technology to develop renewable energy projects across Malaysia and other ASEAN countries, with potential ventures valued at $220m. The collaboration will involve information exchange, action implementation and periodic reviews to ensure effective cooperation. Both parties are committed to providing their technical expertise for the execution of identified projects within the renewable energy sector. Each company will engage in meticulous procedures aimed at identifying viable projects. If any project materialises from the agreement, a separate definitive contract will be established detailing each company's commitments, including the provision of necessary assistance, relevant information and documents required by the other party. Both companies will use their internal resources to source potential ventures, analyse tenders, formulate business strategies and craft proposals. Founder Group CEO Lee Seng Chi stated: 'We are proud to announce our collaboration with GCL Systems Integration Technology on future renewable energy projects. 'Leveraging GCL's strong global reputation and expertise in manufacturing and supply of solar PV [photovoltaic] modules and storage will be an integral part of this cooperation to advance our capabilities to support Malaysia and the surrounding countries' renewable energy goals and promote a greener environment for our customers. 'Additionally, we anticipate significant revenue opportunities as we work to establish sustainable projects that will drive top-line growth as well as margin and income expansion, which we expect will result in substantial gains in shareholder value.' GCL Systems Integration Technology is a smart PV and storage system integrator, while Founder Group is an engineering, procurement, construction and commissioning solutions provider for solar PV systems in Malaysia. "Founder Group and GCL Systems sign $220m renewable energy MoU" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
6 days ago
- Business
- Zawya
Kuwait issues RFP for 1.1GW solar power project in Shagaya Renewable Energy Park
Kuwait Authority for Partnership Projects (KAPP) and the Ministry of Electricity, Water, and Renewable Energy has issued Request for Proposal (RFP) for the 1.1 gigawatts (GW) [or 1,100 megawatts (MW)] Al Dibdibah Power and Al Shagaya Renewable Energy - Phase III - Zone 1 Solar PV project, located within the Shagaya Renewable Energy Park (SREP) in Jahra Governorate, west of Kuwait City. The RFP was issued to the two companies and four consortia prequalified for the project in August 2024. These are: France's TotalEnergies Renewables; Vietnam's Trung Nam Construction Investment Corporation; Consortium of Saudi's ACWA Power with Kuwait's Alternative Energy Projects Company; Consortium of UAE's Abu Dhabi Future Energy Company (Masdar) with local company Fouad Alghanim & Sons General Trading and Contracting; Consortium of France's EDF Renewables with local Abdullah Al Hamad Al Sagar and Brothers Company and South Korea's Korean Western Power Company; Consortium of China's Jinko Power with Japan's JERA and local National Technology Enterprises Company. The project scope also includes development, financing, design, supply, engineering, construction, testing, and commissioning of a 400 kV power transmission substation. The deadline for submitting the technical and commercial bids is 14 September 2025 before 12.00 pm. Theproject will be backed by a Power Purchase Agreement (PPA) with the Ministry of Electricity, Water and Renewable Energy for a period of 30 years effective from the project's Commercial Operation Date (PCOD). In May 2025, KAPP had invited prequalification applications for developing the 500MW Al Dibdibah Power and Al Shagaya Renewable Energy - Phase III - Zone 2 Solar PV project (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Yahoo
11-06-2025
- Business
- Yahoo
Ranked Top 9 Globally for Solar Trackers: Antaisolar Enters Wood Mackenzie's List, Leading Markets in Multiple Countries
XIAMEN, China, June 10, 2025 /CNW/ -- Recently, the internationally renowned energy consultancy Wood Mackenzie officially released its Global Solar PV Tracker Market Share Report 2025. According to the report, Antaisolar has been ranked 9th globally in the 2024 annual Global solar PV tracker market. In key regional markets such as Latin America, Asia-Pacific, and China, the company secured a position within the Top 6, demonstrating its strong market competitiveness and growing brand influence. The report notes that global solar tracker shipments reached 111 GW in 2024, marking a 20% year-on-year increase and surpassing the 100 GW milestone for the first time. In this rapidly growing market, Antaisolar delivered 2.55 GW of solar tracker systems worldwide in 2024, representing a 40% year-on-year growth—outpacing the industry average. Thanks to the stability and reliability of its products and services, Antaisolar has achieved impressive rankings in multiple countries: 4th in India, 5th in Brazil, 6th in China, and 8th in Spain. These accomplishments highlight the company's strategic depth and targeted breakthroughs in key regional markets, continuing its contributions to the global green energy transition. Since 2006, Antaisolar has been deeply dedicated to the field of solar tracking systems. It has built a comprehensive one-stop service system covering product design, manufacturing, and after-sales support, providing efficient and intelligent solutions to clients worldwide. Its flagship products— TAI-Simple (1P single-axis) and TAI-Universal (2P single-axis)—have been widely adopted in utility-scale projects. The company is set to unveil its new flagship tracker system at the upcoming SNEC exhibition: AT–Spark 1P Multi-Slew Mechanical Linkage Single-Axis Independent Solar Tracking System. Featuring Antaisolar's self-developed large-radius octagonal torque tube combined with dual spherical bearing architecture, it supports ultra-long arrays with large-span multi-string configurations. Combined with Antaisolar SmartTrail intelligent tracking control system—with four layers of extreme weather protection, it ensures optimal performance in challenging conditions such as high winds and snow. Through advanced algorithms that optimize solar irradiance tracking, AT-Spark significantly enhances energy yield and reduces the levelized cost of electricity (LCOE), further solidifying Antaisolar's position as the preferred solution provider for utility-scale PV power plants. Looking ahead, Antaisolar remains its mission "Raise a Green World" and continues to position itself as an expert in digital intelligent PV mounting system solutions, Antaisolar will continue to write a new chapter of excellence and contribute long-lasting momentum to the global energy transition. View original content: SOURCE Antaisolar View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Another Milestone: Arctech Ranks World's No. 2 in Solar Tracker Market
KUNSHAN, China, June 10, 2025 /PRNewswire/ -- Recently, Wood Mackenzie, a world-renowned energy research firm, released its 2025 Global Solar PV Tracker Market Share Report. Arctech surged to the second position globally with a 16% market share, while also claiming the top spot in key markets such as India, the Middle East, and Asia-Pacific, demonstrating strong global competitiveness. 01 Industry-Leading Growth With an astonishing 113% year-on-year growth rate, Arctech became the only top-10 manufacturer to exceed 100% y-o-y growth, far exceeding the industry average. 02 Dominance Across Multiple Regional Markets Notably, Arctech has established leadership in several key markets: Middle East: Topped the market again, becoming the region's most preferred tracker supplier. India & Asia-Pacific: Maintained the No.1 position for two consecutive years, further solidifying market dominance. Europe, Saudi Arabia & Emerging Markets: Steadily growing market share, reflecting the success of our global expansion strategy. In 2024, Arctech's global tracker shipments reached 17.41 GW, supported by a robust production-sales-service network spanning three continents—including 4 service centers、six producing bases and 17 branches—delivering end-to-end services from design to O&M for global customers. 03 "Tracker+" Strategy Opens a New Chapter in Globalization With new producing bases in Saudi Arabia and Brazil, along with a European logistics hub, Arctech has built a globally integrated supply chain. Its differentiated competitive edge has secured multiple GW-level projects in India, the UAE, Argentina, and beyond, validating its innovative R&D and localized operations. SNEC 2025: A Grand Showcase Ahead From June 11th–13th, Arctech will unveil its full suite of "Tracker+" and "Green Power+" solutions at SNEC (Booth: 3H-A110), showcasing smart energy solutions for complex scenarios and driving the global energy transition forward. View original content to download multimedia: SOURCE Arctech Solar Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
