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Reuters
4 hours ago
- Reuters
India's renewable projects without supply deals double in nine months, documents show
SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed. The South Asian nation aims to more than double its non-fossil fuel power capacity to 500 gigawatts by 2030, but the acceleration has left projects without firm agreements to supply power. Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts, India's Sustainable Projects Developers Association said in a letter to the Ministry of New and Renewable Energy on June 27. That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters. Tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC ( opens new tab, ( opens new tab, Adani Green ( opens new tab, ACME Solar ( opens new tab, Renew (RNW.O), opens new tab and Sembcorp ( opens new tab are stranded, two industry officials familiar with the matter said. "Energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in its June 27 letter to the renewable energy ministry. The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about a quarter the size of India's current installed renewable capacity of 184.6 GW. The companies did not respond to Reuters requests seeking comment. A spokesperson for India's power ministry told Reuters on Saturday renewable projects of about 44 GW had been awarded generation licences by federal agencies - which account for most tenders - but did not have supply agreements. He did not elaborate on the scale of the increase in stranded projects, the duration of delay or companies affected. Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, the SPDA said in the June letter. Interstate transmission lines connecting renewable energy projects to the grid are being fast-tracked, and compensation for landowners allowing power cables on their property has been increased to facilitate construction, the ministry spokesperson said. India plans to connect 230 GW of renewable energy projects to the grid through interstate transmission lines, of which 20% have been completed, 70% are under construction and the remainder is being bid out, he said, without specifying a timeline for completion. Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, SPDA said, adding that several developers have paused operations over unresolved court cases.
Reuters
6 hours ago
- Reuters
India to maintain Russian oil imports despite Trump threats, government sources say
NEW DELHI, Aug 2 (Reuters) - India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources told Reuters on Saturday, not wishing to be identified due to the sensitivity of the matter. On top of a new 25% tariff on India's exports to the U.S., Trump indicated in a Truth Social post last month that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters he had heard that India would no longer be buying oil from Russia. But the sources said there would be no immediate changes. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. The New York Times also quoted two unnamed senior Indian officials on Saturday as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. However, during a regular press briefing on Friday, foreign ministry spokesperson Randhir Jaiswal said India has a "steady and time-tested partnership" with Russia. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," he said. The White House did not immediately respond to requests for comment. Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100% tariffs on U.S. imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35% of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand. Indian Oil Corp ( opens new tab, Hindustan Petroleum Corp ( opens new tab, Bharat Petroleum Corp ( opens new tab and Mangalore Refinery Petrochemical Ltd ( opens new tab have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy - a refinery majority-owned by Russian entities, including oil major Rosneft ( opens new tab, and major buyer of Russian oil - was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week.
Reuters
7 hours ago
- Reuters
India's stranded renewable projects double to over 50 GW, documents show
SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed. The South Asian nation aims to more than double its non-fossil fuel power capacity to 500 gigawatts (GW) by 2030, but the acceleration has left projects without firm agreements to supply power. Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts (GW), India's Sustainable Projects Developers Association (SPDA) said in a letter to the Ministry of New and Renewable Energy on June 27. That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters. Tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC ( opens new tab, ( opens new tab, Adani Green ( opens new tab, ACME Solar ( opens new tab, Renew (RNW.O), opens new tab and Sembcorp ( opens new tab are stranded, two industry officials familiar with the matter said. "Energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in its June 27 letter to the renewable energy ministry. The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about a quarter the size of India's current installed renewable capacity of 184.6 GW. The companies did not respond to Reuters requests seeking comment. Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, the SPDA said in the June letter. Interstate transmission lines connecting renewable energy projects to the grid are being fast-tracked, and compensation for landowners allowing power cables on their property has been increased to facilitate construction, the federal power ministry told Reuters. India plans to connect 230 GW of renewable energy projects to the grid through interstate transmission lines, of which 20% have been completed, 70% are under construction and the remainder is being bid out, the ministry said, without specifying a timeline for completion. Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, SPDA said, adding that several developers have paused operations over unresolved court cases.
