India’s ISPL plans 10GW solar PV capacity by Nov 2026
Indian manufacturer Indosol Solar (ISPL) is aiming to achieve 10GW of fully integrated solar photovoltaic (PC) capacity by November 2026, as it expects the Indian government's push towards greener energy will boost demand for solar products in the coming years.
ISPL plans to increase its production capacity for upstream and downstream solar products, which include a 30GW plant for metallurgical silicon and polysilicon and a 20GW plant for solar ingot, wafer, cell and module capacity. It is also aiming to add 1,200 t/yr of solar glass to its portfolio, a source from ISPL told Argus.
The firm has already started commercial production at its 500MW solar module plant in Nellore, Andhra Pradesh state on 31 March. It is expected to add 500MW of solar ingot, wafer, cell and module capacity by the end of this year. This will increase ISPL's integrated solar PV manufacturing capacity to 500MW by the end of December, 5GW by 2025 and 10GW by November 2026.
India's product-linked incentive (PLI) scheme for solar modules manufacturing and its plan to use approved list of models and manufacturers in government-backed solar projects will increase demand for domestic solar products in the country, the ISPL source added.
ISPL was among the three firms selected to establish a solar PV manufacturing plant under the PLI scheme for solar modules manufacturing, which provides incentives for five years post-commissioning of the solar manufacturing plants on the sales of high-efficiency solar PV modules and for domestic value additions.
India is targeting to establish 450GW of renewable energy capacity by 2030, including 300GW of solar capacity.
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British Steel Scunthorpe rolling may stop if BF closes
British Steel Scunthorpe rolling may stop if BF closes
London, 13 September (Argus) — British Steel's Scunthorpe rolling mills may not be able to continue operating if the last blast furnace (BF) closes. The rolling lines are powered by gas captured from the BF process. Recent furnace stability problems and the subsequent lack of gas mean the company has been intermittently operating some lines. It is currently running one BF, which it has fed with stocked raw materials. "If they shut the last blast furnace and import semis they would have to put some liquid gas solution in place and modify the reheat furnaces to be able to run on this different gas supply," a source said. The move to one furnace and reduction in gas supply has already affected availability of some products, and service centres expect tight universal channel supply in the coming months as the company opts for heavier, less lossmaking products. Production at Skinningrove and Teesside could continue, as both sites already have gas supply. But rail production at Scunthorpe would cease without any investment in gas supply. Rail is one of the more profitable businesses in the group, and also important for the wider UK as it is a major supplier to Network Rail. Some market participants are gearing up for Jingye, the Chinese owner of British Steel, to walk away. Executives from British Steel, and local politicians, are visiting China for discussions with Jingye, sources suggest. A spokesperson for British Steel refused to comment on "hypotheticals". "We are in ongoing discussions with the government about our decarbonisation plans and the future operations of our UK business. While progress continues, no final decisions have been made," the spokesperson said. A decision on the BFs could be made in the next few weeks, with them both potentially closing before Christmas, sources suggest. Speaking in Parliament earlier this week, business secretary Jonathan Reynolds said he was "heavily constrained" in his options for British Steel and operating on a shorter time window than the previous administration. The Chinese market has weakened considerably in recent months, which will have affected Jingye financially, along with all other mills, sources said. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Tokyo silent on Nippon-US Steel deal to avoid meddling
Tokyo silent on Nippon-US Steel deal to avoid meddling
Tokyo, 13 September (Argus) — The Japanese government is withholding any comment on the politically fraught acquisition of US Steel by Japan's Nippon Steel because it will create meddling, the country's trade and industry (Meti) minister said. Since Nippon Steel announced its $15bn deal to acquire US Steel in December 2023, Tokyo has remained silent despite it evoking bitter political and industrial debate. This is because any governmental comment will cause "interference in the internal affairs", Meti minister Ken Saito said on 13 September. The acquisition is facing stiff resistance from US vice-president and Democratic presidential nominee Kamala Harris who said on 2 September in Pittsburgh that "US Steel should remain US-owned and US-operated".Republican presidential nominee Donald Trump criticised the deal in February, vowing to block the sale . Criticism from both candidates is seen as an attempt to gain the support of US labour unions for their presidential election ambitions. The deal is currently under review by the Committee on Foreign Investment in the United States (CFIUS), with US President Biden possibly considering vetoing the deal. The Japanese business federation Keidanren responded with an open letter to US treasury secretary Janet Yellen, who chairs the CFIUS, expressing concern about "political pressure being brought to bear" on the committee. "We fear that the CFIUS process is being used to further political agendas that are outside the committee's purview and putting the US economy and workers at risk", the letter said. "It is critical that CFIUS remain solely focused on defending US national security while championing economic openness. That was the standard set when Congress codified CFIUS in the 1980s". Meti minister Saito did not make any further direct comment on the deal, only to reiterate that each and every transaction by US and Japanese companies are the building blocks for astrong and resilient bilateral economy. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Padnos acquires three Midwest metal recyclers
Padnos acquires three Midwest metal recyclers
Pittsburgh, 12 September (Argus) — Metal recycler Padnos has acquired three businesses in Michigan and Indiana, the company said Wednesday. The Holland, Michigan-based company purchased the Sam Winer and Company scrap yard in Elkhart, Indiana, Howe Auto Sales in Bay City, Michigan, and Grandpa's Garage in Traverse City, Michigan. Grandpa's Garage is located next door to Padnos' Traverse City facility, allowing the company to expand that location. Financial details of the transactions were not disclosed. Padnos now operates 30 recycling facilities in Michigan and Indiana. By James Marshall Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Mexico’s July industrial output growth slows to 0.2pc
Mexico’s July industrial output growth slows to 0.2pc
Houston, 12 September (Argus) — Mexico's industrial production growth slowed to just 0.2pc in July from the previous month, statistics agency Inegi reported Tuesday, supported by rebounds in construction and non-oil mining. The monthly gain in industrial output, following a 0.4pc increase in June and a 0.7pc gain in May, marked a fifth month of expansion in the seven months through July. Seasonally adjusted, construction led major components in July, expanding by 2.6pc over June, with mining expanding by 1.4pc over the previous month. Oil and gas extraction, however, was down by 0.2pc from the previous month, after 0.5pc growth was reported in June. The segment has now shown contraction in 10 of the last 12 months. Extraction of other minerals, however, increased by 0.4pc over the prior month, after a 4.6pc decline reported in June. Mining-related services also rebounded, up 14.8pc in July after a 9.7pc contraction in June. Manufacturing reversed course in July, registering a 0.8pc contraction from the previous month after posting a 2pc expansion in June. This is largely the result of the auto manufacturing segment posting a monthly contraction of 3.1pc in July after a 5.8pc expansion in June. The auto segment comprises 24pc of the manufacturing component in Inegi's monthly industrial activity report (Imai), and manufacturing accounts for 63pc of nationwide industrial activity. Auto output, however, should rebound in August with INEGI reporting Monday that light vehicle production in August was up almost 20pc from July. Meanwhile, the utilities component — tracking provision of electric power, water and natural gas — contracted for a second consecutive month, down 0.9pc in July after a 0.2pc contraction recorded in June. Manufacture of products derived from oil or coal expanded for a second month, up 3pc in July on a monthly basis after a 10.6pc jump in June. Looking ahead, Mexican bank Banorte said, "We believe that the bias for industry in the remainder of the year will be negative, with headwinds for construction and manufacturing." Some drivers, it said, include: "weakness in US industry; lower base metal prices due to a global economic slowdown, especially in China; the completion of local infrastructure works; and some circumstantial factors that have added volatility within different sectors." Nevertheless, Banorte's industrial outlook for 2025 and the medium-term remains positive as the major infrastructure projects for the incoming administration get underway. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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