MAY 20248TOP STORIESENVISION ENERGY'S LATEST VENTURE TO BOOST INDIA'S NET-ZERO EMISSION PROGRESSEnvision Energy, a global leader in green technology, and Hero Future Energies, a leading Renewable Energy IPP, have signed a framework agreement for cooperation across multiple aspects of the Renewable Energy sector, including WTG supply and other technologies, including BESS and Green Hydrogen. The framework agreement also includes Envision providing 588 MW (178 units of EN 156-3.3 MW Wind Turbine Generators) that will produce 2,200 GWh units of clean energy annually, significantly accelerating India's progress towards achieving its net-zero emissions goals.With the setting up of manufacturing facilities for nacelles, hubs & blades, and a remote-control center for wind projects built across the country, India has emerged as a strategic market for Envision, creating more than 2,000 jobs (direct and indirect). This much-cherished association with Hero Future Energies would play a pivotal role in ramping up renewable energy capacity in India. With a proven track record in global markets, Envision WTGs are well poised to bolster India's wind energy landscape. Built with a rotor diameter of 156 m, hub- height of 140 m, and a rated capacity of 3.3 MW, these WTGs are best suited to perform in the Indian wind regime.Mr. Kane Xu, Global Vice President of Envision Energy and Chairman of Envision Energy India, said, "We are delighted to collaborate with Hero Future Energies and accelerate the green energy transition to avert the climate crisis. This partnership is a testament to our long-term commitment to solving the challenges for a sustainable future. In India, Envision has successfully commissioned more than 690 MW of wind projects and has already been awarded ~ 7.4 GW orders for the highly successful EN-156, 3.3 MW WTG model. Envision is currently supporting projects for 20 IPPs in 6 states with over 30 project sites. To support this growth, the company has established an annual manufacturing capacity of 3 GW for Nacelle & Hub in Pune and a 2.5 GW capacity for blades with 9 molds, including at its own plant at Trichy. Telecom equipment manufacturing and exports have emerged as a significant success story following smartphone exports, with the sector crossing the milestone of 45,000 crore in production for FY24, supported by the Centre's production linked incentive (PLI) scheme. According to government data shared exclusively with ET, exports reached around 10,500 crore, with over 19,500 direct jobs created.Telecom Minister Ashwini Vaishnaw highlighted the success of the Make-in-India initiative and the PLI programme in transforming India from a telecom gear importer to a manufacturer of equipment worth more than 45,000 crore. The telecom equipment sector encompasses complex products such as radios, routers, and network equipment. The PLI scheme has facilitated the production of 5G fixed wireless access (FWA) equipment, with leading telcos like Reliance Jio and Bharti Airtel investing in FWA to leverage 5G capabilities.Government data revealed that global firms contributed significantly to total sales, with domestic firms and MSMEs also making substantial contributions. Domestic companies led in job creation, followed by MSMEs and global firms. India-made telecom equipment is being exported to North America and Europe, with Indian manufacturers contributing design inputs and ensuring high product quality.The PLI scheme for telecom and networking products, launched in February 2021, offers incentives of 4 percent to 7 percent for different categories and years. The scheme was amended in April 2022 to facilitate design-led manufacturing, with an additional incentive rate and extension by a year due to Covid-related disruptions. A total of 42 firms, including 28 MSMEs, were selected under the revised scheme, committing to significant investments and job creation targets over the scheme period. TELECOM EQUIPMENT & MANUFACTURING CROSSES RS.45,000 CRORE MARK
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