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Originally published on Future Trends.

Welcome to another issue of our new India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors in India into a single, concise summary article about the country.

Cleantech Investments

First Solar Plans $684 Million Module Fab In India

US-based thin-film module manufacturer First Solar has announced plans to set up a facility in India. The company plans to invest $684 million to set up a production capacity in the state of Tamil Nadu with an annual production capacity of 3 gigawatts. The facility is likely to be operational by mid-2023 and will increase First Solar’s global production capacity to 16 gigawatts. First Solar hopes to take advantage of a recently announced incentive scheme for cell and module manufacturers by the Indian government.

IndiGrid Acquires 100 Megawatts Solar Projects From Fotowatio

Infrastructure Investment Trust IndiGrid acquired two solar power projects from Fotowatio Renewable Ventures. The projects have a total capacity of 100 megawatts and are located in a solar power park in Andhra Pradesh. This is the first solar power acquisition by IndiGrid, which holds the power transmission projects of Sterlite Transmission.

Rayzon Solar Plans To Expand Module Production Capacity To 1.2 Gigawatts

Indian solar module manufacturer Rayzon Solar has announced plans to expand its production capacity from 300 megawatts to 1,500 megawatts per year. The company will expand its Gujarat-based manufacturing unit and has placed orders with Chinese companies for the supply of manufacturing equipment.

Reliance Industries May Acquire REC Group

One of India’s leading industrial conglomerates, Reliance Industries, is reportedly looking to acquire Norwegian solar module manufacturer REC Group. The reports come weeks after Reliance Industries announced plans to set up solar cell and module manufacturing units in the state of Gujarat.

Enel Green Secures $50 Million Debt For 300 Megawatt Solar Project

Enel Green Power India has secured debt funding worth $50 million for its 300 megawatt solar power project in the state of Rajasthan. The funding has been provided by the Asian Infrastructure Investment Bank. The project was awarded to Enel as part of a 2 gigawatt solar power auction conducted by the Solar Energy Corporation of India.

Azure Power Lands $163 Million Debt Funding From Japanese Group

Nasdaq-listed Azure Power has secured debt funding worth $163 million from multiple lenders led by Japan’s Mitsubishi UFJ Financial Group. Five-year debt will be used for the construction of a 300-megawatt solar power project located in the state of Rajasthan.

Thailand’s PTT Group Acquires Stake In Avaada Energy

Global Power Synergy, a subsidiary of Thailand’s PTT Group, has acquired a 41.16% stake in solar IPP Avaada Energy for $453 million. Avaada Energy has a portfolio of 3.7 gigawatts, including 2.3 gigawatts of capacity under construction. PTT currently has a renewable energy portfolio of 2.1 gigawatts and plans to increase it to 8 gigawatts by 2030.

KKR-based Renewable Energy Infrastructure Investment Trust Files For IPO

Virescent Infrastructure is looking to raise Rs 4.25 billion through an infrastructure investment trust IPO. The company owns 394 megawatts of renewable energy assets spread across Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, and Tamil Nadu. The company is owned by KKR and Co.

Acme Raises $344 Million Through Green Bonds

One of India’s leading solar power generation companies, Acme Solar Holdings, has successfully raised $344 million through a green bonds issue. The bonds have a tenure of five years and were priced at 4.7%. Proceeds from this green bond issue will be used by the company to complete 12 under-construction projects. The company has 2.2 gigawatts of operational assets and 2.4 gigawatts of capacity under construction.

Senvion’s India Business Sold To Alfanar

The Saudi Arabia-based manufacturer of power equipment Alfanar has completed the acquisition of Senvion’s India business. Alfanar completed the transaction through Global Renewable Energy Development Holding Company Limited, which acquired Senvion India in December 2020. Senvion Group was acquired by Suzlon Energy, once India’s largest wind energy solutions provider, in 2007. The group was known as REpower Systems at that time. Suzlon was forced to sell Senvion in 2016 to a private equity investor after the former entered a financial tailspin.

Electric Mobility

Ola Electric Receives 100,000+ Bookings In A Day For Upcoming Electric Scooter

Ola Electric, a subsidiary of cab-hailing service Ola, has received a tremendous response for its soon-to-be-launched electric scooter. Ola Electric reported that more than 100,000 potential buyers registered to buy the scooter. The company set a booking price of just Rs 500 ($6.70) for anyone looking to reserve a scooter. The company will manufacture the scooter at its Futurefactory. According to the company, the facility will be the largest electric scooter manufacturing facility in the world with 10 production lines spread across 2 square kilometers.

Renewable Energy & Batteries

NTPC Wins Approval For 4.7 Gigawatt Solar Park, India’s Largest

India’s largest power generation company, NTPC Limited, was given a go-ahead by the Ministry of New and Renewable Energy to set up the country’s largest solar power park. The park, first announced by the company in 2019, will have 4.7 gigawatts of solar power projects and will be located in the western state of Gujarat. NTPC currently has a generation fleet of 66 gigawatts, 92% of it based on thermal power technology. It plans to increase the share of renewable power in its fleet to 28.5% by 2032.

NTPC & ONGC Plan To Partner For Offshore Wind Energy Projects

Power generation company NTPC Limited and oil and gas exploration company ONGC Limited have announced a partnership to set up offshore wind energy projects. The latest announcement of partnership between the two public sector companies is unlikely to bear any fruit in terms of actual project development, at least in the near future. Offshore wind projects, while much more efficient compared to onshore projects, are very expensive. At present, the subsidized offshore projects will not be able to compete with record-low solar power tariffs.

Tata Power To Focus On Renewable Energy, Add 15 Gigawatts Of Capacity

The Chairman of Tata Power has announced that his company will add 15 gigawatts of renewable energy capacity over the next few years. The company currently has 1.8 gigawatts of solar and wind energy capacity operational and another 373 megawatts under development. Its subsidiaries offer EPC services and manufacture solar cells and modules. Currently, 69% of Tata Power’s generation capacity is based on coal. The company has announced plans to increase the share of clean and renewable energy technology to 80% by 2030. The company also plans to achieve carbon neutrality by 2050.

Siemens Gamesa Bags 322 Megawatt Order From ReNew Power

One of India’s leading renewable energy generators, ReNew Power, has placed an order for 322 megawatts of wind turbines with Siemens Gamesa. The turbines will be installed in the state of Karnataka. This latest order follows another similar order where ReNew ordered turbines worth 301 megawatts.

450 Megawatt Solar Projects Auctioned At ¢3.1/kWh

NTPC and Solar Arise were awarded rights to develop 325 megawatts and 125 megawatts of solar power projects. The projects will be developed in the state of Madhya Pradesh. Part of the power generated from these projects will be procured by Indian Railways.

 

 
 

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Toyota to buy clean power from a $1.1 billion solar farm in Texas

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Toyota to buy clean power from a .1 billion solar farm in Texas

Enbridge, a Canadian energy company, just announced it’s moving forward with an 815-megawatt (MW) solar project called Sequoia in Texas. When it’s done, it’ll be one of the largest solar farms in North America. The project’s price tag is a hefty $1.1 billion.

Enbridge’s Sequoia, around 150 miles west of Dallas, has already landed long-term power purchase agreements (PPAs) with AT&T and Toyota, ensuring most of its output is sold for years to come. This deal was highlighted in Enbridge’s third-quarter report on Friday.

Sequoia will be built in two phases, with power expected to start flowing in 2025 and 2026. Enbridge says it’s taken steps to reduce risks by securing equipment and procurement contracts in advance. Permits and purchase orders are also locked down.

Toyota’s PPA with Enbridge’s Texas solar project is part of Toyota’s broader push toward sustainability, as the automaker aims to achieve net zero by 2035 and match 45% of its purchased power with renewable electricity by 2026 as it still clings to its “diverse powertrain strategy.”


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NIO’s EV sales top 20,000 for the sixth straight month as new low-cost SUV shows promise

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NIO's EV sales top 20,000 for the sixth straight month as new low-cost SUV shows promise

With its new electric SUV rolling out, NIO’s (NIO) sales topped the 20,000 mark again in Oct, its sixth straight month hitting the milestone.

NIO sold 20,976 vehicles last month, up 30.5% from October 2023. The NIO brand sold 16,657 vehicles, while its new “family-oriented smart vehicle brand,” Onvo, contributed 4,319 in its first full sales month.

After launching its new mid-size Onvo L60 electric SUV in September, NIO said production and deliveries are steadily ramping up.

At the end of October, NIO’s Onvo had 166 Centers and Spaces throughout 60 cities. Onvo plans to continue expanding its network to drive future growth.

NIO’s new electric SUV starts at around $21,200 (149,900) and is a direct rival to Tesla’s Model Y. The base $21K model is if you rent the battery. Even with the battery included, Onvo L60 prices still start at under $30,000 (206,900 yuan), with a CLTC range of up to 341 miles (555 km). That’s still less than the Model Y.

Tesla’s Model Y RWD starts at around $35,000 (249,900 yuan) with 344 mi (554 km) CLTC range in China.

NIO's-Oct-sales
Onvo L60 electric SUV models (Source: NIO Onvo)

NIO’s new Onvo brand drives higher Oct sales

NIO has often compared its new electric SUV to the Model Y, claiming it’s superior in many ways. The L60 has better consumption at 12.1 kWh/100km compared to the Model Y at 12.5 kWh/100km).

With a longer wheelbase (2,950 mm vs 2,890 mm), NIO’s electric SUV also provides slightly more interior space.

NIO's-Oct-sales
NIO Onvo L60 electric SUV (Source: Onvo)

Despite the L60’s success so far, NIO believes its second Onvo model will be an even bigger hit. It could be a potential game-changer.

“If you think the L60 is good, then this new model is a much more competitive product,” NIO’s CEO William Li told CnEVPost after launching the L60. Onvo will launch a new EV every year. Following the L60, Onvo will launch a new mid-to-large-size electric SUV next year.

NIO’s leader claims the new model will be revolutionary. According to Li, it will offer even more surprises than the L60. Deliveries are planned to begin in Q3 2025.

NIO Onvo L60 vs Tesla Model Y trims Range
(CLTC)
Starting Price
NIO Onvo L60 (Battery rental) 555 km (341 mi)
730 km (454 mi)
149,900 yuan ($21,200)
NIO Onvo L60 (60 kWh) 555 km (341 mi) 206,900 yuan ($29,300)
NIO Onvo L60 (85 kWh) 730 km (454 mi) 235,900 yuan ($33,400)
NIO Onvo L60 (150 kWh) +1,000 km (+621 mi) TBD
Tesla Model Y RWD 554 km (344 mi) 249,900 yuan ($34,600)
Tesla Model Y AWD Long Range 688 km (427 mi) 290,900 yuan ($40,300)
Tesla Model Y AWD Performance 615 km (382 mi) 354,900 yuan ($49,100)
NIO Onvo L60 compared to Tesla Model Y prices and range in China

Local reports suggest a six-or seven-seat electric SUV could hit the market even sooner. With rumors of a launch around Q1 2025, deliveries could happen as soon as May 2025.

According to sources close to the matter, the L60 is just a “stepping stone” with even more exciting EVs on the way. The source claimed the new six-seat option will start at around $42,100 (300,000 yuan).

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Velotric Ebikes’ big early-bird Black Friday discounts are here!

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Velotric Ebikes' big early-bird Black Friday discounts are here!

Velotric Ebikes are designed by some of the most brilliant minds in the business. And now, you have the opportunity to own one (or two!) of these high-performance, elegant, reliable rides. You won’t want to miss these fantastic early-bird Black Friday deals running from November 1-14, and, also get a sneak peek at special offers that start on November 8.

Read on to find the right model for you and learn how you can donate $5 to get up to $550 off a superb Velotric electric bike.

Velotric Black Friday deals – give to get back

If you donate $5 to either the Clean Air Task Force or the Solutions Project at checkout, you’ll unlock some fantastic discounts off Velotric e-bikes:

  • Clean Air Task Force: Fighting air pollution for healthier communities
  • The Solutions Project: Advocating for 100% renewable energy in frontline communities

Plus, Velotric is giving Electrek readers an exclusive discount: Enter the code Electrek20 at checkout to get an additional $20 OFF!

Velotric Discover 2 Ebike

The Velotric Discover 2, Velotric’s most comfortable e-bike, now has even more power, with a 750W high-performance motor and 75 Nm of torque. The 48V 706 Wh battery, providing up to 75 miles per charge, maximizes your range.

You can ride in comfort, as the frame design supports an upright posture; plus, it’s got a 200mm wide saddle and ergonomic grips, reducing long-ride strain. Enjoy a premium, versatile ride that turns every journey into a joyride.

Discover 2 – Save up to $200

Velotric Summit 1 Ebike

If you want both an everyday bike and a trekking bike, then this is the one for you. The customizable Velotric Summit 1 Ebike is a hybrid e-bike featuring a 750W motor with 90 Nm of torque that delivers exceptional power for both city streets and offroad terrain, and the intuitive throttle means you can access that power effortlessly. When you’re off-road, the 120mm travel suspension absorbs the impacts, resulting in a smoother ride. The 48V, 705.6Wh battery provides up to 70 miles of charge.

Plus, it features a vibrant multifunctional screen with three configurations and use the Velotric app to monitor mileage and access real-time bike data.

Summit 1 – Save up to $200

Velotric Nomad 1 Plus Ebike

The Nomad 1 Plus Ebike‘s 750W motor and 75 Nm torque allow you to conquer just about any terrain. The 691Wh battery keeps you on the move for up to 55 miles, an 80mm suspension fork smooths your ride, and powerful waterproof hydraulic brakes give you full control.

The Nomad 1 Plus features an adjustable stem, a brighter front light, and max speed adjustable range is 12-28 mph.

Nomad 1 Plus – save up to $550

Velotric Fold 1 Ebike

The Velotric Fold 1 Ebike becomes compact in just three quick moves, but don’t mistake it for simple. The high-performance 750W motor and generates 70 Nm torque, beating most of the competition for acceleration and climbing ability. The 608Wh battery will give you up to 55 miles of range, its step-through design is 20% lower than the competition, and when you’re done zipping around town or commuting, you can pop it into a car trunk or even a closet.

Plus, the Fold 1 is compatible with a wide range of cool accessories so you can customize it to meet your needs.

Fold 1 – Save up to $350

Velotric T1 ST Plus Ebike

The Velotric T1 ST Plus Ebike is an ultra-compact, 39-pound city-and-gravel bike that’s designed for riders with an active lifestyle. But don’t be fooled by its sleek look because it’s very well-equipped: The five pedal-assist-level T1 ST has a 70-mile range and three riding modes, and the peak 600W motor generates 40Nm of torque. It also comes with Apple Find My integration.

T1 ST Plus – Save up to $400

Velotric Discover 1 Plus Ebike

The Velotric Discover 1 Plus Ebike is a fantastic commuter bike that’s designed for comfort. (Plus, it’s kinda fun that it comes in five color choices.) If your commuting route is a bit more challenging, then the Discover 1 Plus might be the right fit for you. It features a rear light with braking high-beam, a 60 Lux front light, and double hydraulic disc brakes for extra safety. Plus, Velotric rigorously tests its frames 150,000 times under tough conditions for quality assurance.

This commuter e-bike that rides like a cruiser has a pedal assist range of 65 miles and throttle range of 58 miles on a 900W peak motor that generates 65 Nm of torque.

Discover 1 Plus – Save up to $550

Velotric Go 1 Ebike

Velotric’s Go 1 Ebike is small but mighty – it can carry up to 440 pounds comfortably. This ride has hydraulic suspension and a plush saddle, and it can be kitted out with a wide range of accessories, making it a versatile form of transport for everything from a fun day out to carting groceries across town.

It’s powered by Velotric’s proprietary Velopower H50 Drive System, which provides a range of up to 55 miles on pedal assist up to 25 mph (unlocked) with a peak 900W motor.

Go 1 – Save up to $400*

  • Regular price: $1,399 $1,699
  • Promotion: Get $100 off total saving $400
  • Discounted price: $1,299
  • Get 3 accessories & unlock 30% off on selected accessories

*Not included in the early-bird Black Friday deal, this deal runs from November 8-28 only

Velotric Packer 1 Ebike

From kids to cargo, the Velotric Packer 1 Ebike was designed to haul it all! The Packer 1 features Velotric’s proprietary Velopower H75 Drive System, which provides a range of up to 52 miles on pedal assist up to 25 mph (unlocked) with a 750W motor.

It can carry up to 440 pounds and has a 176-pound rear cargo carry capacity, plus hydraulic suspension with 80 mm of travel for a smooth ride. If you’re running a child to school every day, this would be a fantastic choice. Be sure to check out all the great accessories.

Packer 1 – Save up to $600

  • Regular price: $1,699 $2,199
  • Promotion: Get $100 off total saving $600
  • Discounted price: $1,599
  • Get 3 accessories & unlock 30% off on selected accessories

*Not included in the early-bird Black Friday deal, this deal runs from November 8-28 only

Don’t forget to use Velotric’s exclusive code for Electrek readers of Electrek20 at checkout to get an additional $20 OFF!

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