The Ministry of New and Renewable Energy (MNRE) has issued directives requiring strict compliance with Domestic Content Requirement (DCR) guidelines for solar photovoltaic power projects under MNRE schemes/schemes. The directive comes amid concerns about possible abuse of the policy, misdeclaration and import of solar cells in DCR projects. Violations may result in criminal cases, blacklisting, confiscation of bank guarantees and disciplinary action against the officials involved. MNRE encourages domestic manufacturing and urges all stakeholders to adhere to the policy.

Inox Green Energy Services will divest 100% stake in Nani Virani Wind Energy Private Ltd, a 50 MW operating wind farm in Gujarat. The transaction will be completed subject to regulatory and banking approvals, including board and shareholder approvals. The move will strengthen Inox Wind's financial strength and improve profitability as the company aims to become net debt-free.

A new intelligence briefing from PreScouter highlights the challenges of global renewable energy adoption that could lead to increased carbon emissions. Renewable energy sources account for 10-20% of electricity in major economies, but there are signs of inconsistency, affecting power quality. The report suggests that existing infrastructure may not be able to support a rapid transition to renewable energy, so modern and efficient storage strategies are needed.

Renewable energy industry developers say land costs are critical to reducing the cost of solar projects in India. Optimizing land costs involves finding the right balance between location, quality and price. The "2023 National Power Plan" points out that land is the most important resource for solar power plants, and higher-capacity solar modules can reduce land requirements. However, challenges such as land supply, legal issues and land transfers remain. Developers must carefully evaluate land-related factors, work with local authorities, and consider strategies to minimize expenditure while ensuring project efficiency and regulatory compliance.

The International Energy Agency (IEA) found that rates of solar panel installation and electric vehicle purchases are consistent with the pace necessary to achieve net-zero emissions by 2050. The IEA also stressed that by 2030, fossil fuel demand must fall by 25%, energy efficiency of homes and vehicles must double, and methane emissions from the oil and gas industry must fall by 75%. However, despite the rapid increase in renewable energy, fossil fuels remain an important source of energy, especially in Asia.

Gautam Solar plans to double its annual solar module production capacity to 2 GW by the end of 2024, investing around Rs 150 crore in the process. The expansion will be used to produce high-efficiency solar modules certified to ALMM and BIS standards for domestic and foreign markets, aiming to reduce India's import dependence.

The Biden administration plans to complete its ambitious offshore wind leasing program next year, despite preparation delays and sluggish industry demand. The administration aims to install 30 gigawatts of offshore wind power by the end of the century to help decarbonize the U.S. power industry. The Interior Department has held auctions in four areas of the United States, including New York and New Jersey, the Carolinas, California and the Gulf of Mexico. The remaining three regions will take place in 2024. If the government fails to complete these auctions by the end of the third quarter of 2024, it could face additional hurdles, as federal law requires offshore wind lease auctions to take place within 12 months of the auction closing. Recent Oil & Gas Lease Sales.

French President Emmanuel Macron will unveil a seven-year plan to reduce greenhouse gas emissions and fulfill climate-related commitments. The country aims to reduce emissions by 55% by 2030, in line with EU targets. Macron announced that the country's two remaining coal-fired power plants will cease operations by 2027 and be converted to biomass energy. France relies on nuclear energy for more than 60% of its electricity.

Minnesota officials approved expansion plans for the Xcel Energy Sherco Solar project that will become one of the largest in the nation. The expansion will add a 250-MW array to the 460-MW array, with all phases expected to be completed by 2025. The project, with a total capacity of 710 MW, will power more than 150,000 homes annually. Xcel plans to close its three coal-fired power plants in Becker in 2030.

Suzlon Group has bagged a new order for 29.4 MW of BrightNight wind installation capacity in Maharashtra as part of its 100 MW wind-solar hybrid project in Osmanabad. The scheme is expected to be implemented in phases and will reduce CO2 emissions by 250,000 tonnes per year. Suzlon will execute the project, including supply, installation, commissioning and post-commissioning operations and maintenance services. The electricity generated will be targeted at commercial and industrial customer segments.