Page 7 - Clean Energy

A progressive green growth narrative

For the green initiative to get off the ground, voters first need to be convinced that such investments are socially beneficial

ONGC gets govt clearance for clean energy projects, gas business unit

State-owned Oil and Natural Gas Corporation (ONGC) will set up a new unit to house its gas business and clean energy projects such as green hydrogen, as it looks to fast-track foray into new areas. In a stock exchange filing, the firm said it last month received approval of the Ministry of Petroleum and Natural Gas for formation of a wholly-owned subsidiary company for gas business and clean energy projects. "The proposed name of the company is 'ONGC Green Limited' subject to approval of the Ministry of Corporate Affairs, Government of India," it said, adding the company board at its meeting on Tuesday approved the formation of the wholly-owned subsidiary for green energy and gas business. The wholly-owned subsidiary company will be for value-chains of energy business such as green hydrogen, hydrogen blending, renewable energy (solar, wind and hybrid), biofuels/ biogas business and LNG, ONGC said. The nation's largest oil and gas producer plans to spend Rs 1 lakh crore on installin

China overtaking European Union in research related to clean-energy: Study

About 22% of the EU's imports came from China in 2022, the paper found, rising in recent years while the equivalent figure for the US declined

Clean energy: Govt, CEOs commit to triple investments in emerging economies

More than 20 ministers and CEOs from various countries including India on Wednesday joined a World Economic Forum alliance to unlock an estimated USD 2.2-2.8 trillion needed for the Global South's clean energy transition. Announcing the launch of the alliance at its Annual Meeting 2024, the WEF said it will provide a platform for developing economies to raise awareness about their clean energy needs, share best practices and sustainably accelerate their energy transitions. The Network to Mobilize Clean Energy Investment for the Global South is made up of over 20 CEOs and government ministers, including from across Colombia, Egypt, India, Japan, Malaysia, Morocco, Namibia, Nigeria, Norway, Kenya and South Africa. The Forum also released a new report, Building Trust through an Equitable and Inclusive Energy Transition, that outlines a framework to guide policy-makers and business leaders from the energy sector towards a just, equitable and inclusive energy transition, particularly in

India Energy Week 2024 to be held in Goa, 35,000 participants expected

The debut edition of IEW was held in early 2023

Critical mineral imports rise as shift towards green energy catches pace

India eyeing self-reliance amid supply risks from China

COP28: Adani Green Energy to invest $22 billion toward India's 2030 goal

Electricity demand is growing 7% annually, dwarfing expansion in other economies. This led the govt to mandate the addition of both renewable and thermal capacity to prevent blackouts, the CEO said

RIL, Adani, JSW group, L&T enter race for green H2 and electrolyser

Most of the companies participating in the SECI tenders have already chalked out plans for the green hydrogen business and would use this tender as an initial plank

AmpIn Energy Transition plans Rs 3,100 cr investment in Eastern region

AmpIn Energy Transition on Friday announced plans to invest Rs 3,100 crore in states including Bihar, Odisha and Jharkhand. The investments will be made towards setting up renewable energy projects of about 600 MW and a 1.3 GW integrated manufacturing facility of solar cells and modules, the company said in a statement. "Significant investments are planned in West Bengal, Bihar, Odisha, Jharkhand, Chhattisgarh and the Northeastern states. The investment reflects our commitment of accelerating the renewable energy transition and adoption of clean energy solutions in the Eastern region," the company said. In the Eastern region, the company said it already has the largest solar open access portfolio of 200 MWp, the largest utility power purchase agreement (PPA) with CESC for a 250 MWp of wind solar hybrid project. The company is serving marquee customers in the region across diverse sectors such as steel and cement, IT and data centre, heavy engineering, FMCG, utility etc through its

Vietnam to spend $15.5 bn for clean energy transition, to announce at COP28

A plan for how Vietnam will spend USD 15.5 billion to transition to cleaner energy has been finalised and will be announced at the COP28 climate conference, which begins in Dubai next week. Mark George, the climate counsellor for the British Embassy in Hanoi, said that after months of coordination with key Vietnamese ministries to iron out details of how the money will be used, the final plan was finalised on Thursday. George gave no details of the plan. The United Kingdom is co-chair of a group of nine, rich industrialised nations that have agreed to provide the USD 15.5 billion to help Vietnam end its reliance on dirty coal power and more quickly switch to renewable energy as a part of a Just Energy Transition Partnership, or JETP. That is a really important milestone, said George. George was speaking at a panel discussion hosted by the UK-Vietnam Joint Economic and Trade Committee centred around opportunities for the two nations after Britain officially joined an Asia-Pacific t

'Volvo India aims to have 50% vehicles to run on non-fossil fuel by 2030'

Volvo India aims to have 50 per cent of its vehicles to be powered with non-fossil fuels by 2030, a senior company official said on Thursday. While speaking at Digital Acceleration and Transformation Expo (DATE), Volvo Group President and Managing Director in India Kamal Bali said that the company has set a target to become net zero in terms of carbon emission by 2040. "At Volvo, we have set target that by 2030, 50 per cent of our vehicles will be non-fossil fuel-based. They will be non-polluting. Balance 50 per cent will become non-zero emission by 2040," Bali said. He said that transport industry accounts for 20 per cent of world's total green house gas emissions and if automobile companies take pledge to reduce emissions then it will bring huge change in the environment. "We have also taken pledge that 35 per cent of all employees at leadership level and other levels will be women. We see this as part of sustainability," Bali said.

Defence shipyard GRSE to develop electric tugs 'E-VOLT 50' with partners

Garden Reach Shipbuilders and Engineers (GRSE) Ltd, a leading defence shipyard, has signed a memorandum of understanding (MoU) with Shift Clean Energy (Shift), Seatech Solutions International (Seatech), and the American Bureau of Shipping (ABS) to develop electric tugs named E-VOLT 50. This project seeks to mitigate carbon emissions, enhance operational efficiency, and establish new benchmarks for performance and environmental sustainability within the tugboat industry in a step towards India's aspiration to become the 'global hub for green shipbuilding' by 2030. GRSE will construct the tugboat based on the design by Seatech, while Shift will provide energy storage solutions. ABS will oversee the construction and design process, ensuring adherence to all applicable regulatory standards, thereby certifying safety, reliability, and compliance, the company informed the bourses. "The 'E-VOLT 50' represents a bold step towards a cleaner and greener future for maritime sector. By harnessi

Opec+ ambitions for India oil market clash with clean energy goals

India's dependence on imported oil has only grown in the past decade to over 85 per cent of its needs

US, Philippines sign nuclear cooperation pact to bolster power supply

The United States and the Philippines have signed a nuclear cooperation pact under which U.S. investment and technologies are to help the Southeast Asian nation transition to cleaner energy and bolster its power supply. Philippine President Ferdinand Marcos Jr. witnessed the signing of the deal by his energy secretary and U.S. Secretary of State Antony Blinken on Thursday on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit in San Francisco. "We see nuclear energy becoming a part of the Philippines' energy mix by 2032 and we are more than happy to pursue this path with the United States as one of our partners, Marcos said at the signing ceremony. He said the pact, known as a Section 123 agreement, would support the development of reliable, affordable and sustainable power in the Philippines. It will also open doors for U.S. companies to invest and participate in nuclear power projects, he said. Blinken said negotiations with the Philippines were completed within

How technology is using data to reduce carbon emissions

Decarbonisation efforts are occurring in every sector of business and society. Commercial and personal consumption is being audited for wastage, leakage, reuse of energy

India ranked 5th for green skill intensity in 2022: TeamLease report

The study underlined India's pledge to reach a 500 GW clean energy goal by 2030 that has resulted in an 81 per cent YoY surge in demand for green jobs in January 2023

Okaya to partner with IOC to install over 2,500 EV chargers across India

Okaya EV Chargers plans to set up 2,550 electric vehicle chargers across India in collaboration with Indian Oil Corporation (IOC) at an investment of Rs 125 crore, the company said on Tuesday. As many as 362 such chargers have already been installed in over 20 states in a step towards bolstering the electric vehicle infrastructure in the country, according to Okaya EV Chargers. The chargers being set up comprise a diverse range of high-and low-voltage options, including 3.3-kw and 7.4-kw chargers, 30-kw wall-mounted CCS (combined charging system) 2 DC fast chargers, as well as 60-kw CCS2 DC fast chargers, the company said. "This partnership aligns with our vision of creating a sustainable ecosystem for electric vehicles in India. Our advanced charging solutions will empower EV users with convenient and efficient charging options, said Anshul Gupta, Managing Director at Okaya EV Chargers. The total investment for this initiative is pegged at Rs 125 crore, reflecting the substantial

India can contribute towards strengthening, diversifying supply chains: FM

Finance Minister Nirmala Sitharaman on Wednesday said India is well placed to contribute towards strengthening and diversifying supply chains. Speaking at the launch of 'Partnership for Resilient and Inclusive Supply-chain Enhancement' on the sidelines of the World Bank-IMF Annual Meetings in Marrakech, Morocco, Sitharaman said India is undertaking some of the most robust climate actions through its Nationally Determined Contributions (NDCs). This includes an ambitious programme for a transition to clean energy and the RISE partnership is completely in sync with India's domestic policy of prioritising Clean Energy. Highlighting the hard-earned consensus by the G20 India Presidency on the need to rapidly scale up renewable energy capacity, the finance minister said the Global Biofuels Alliance initiative launched by Prime Minister Narendra Modi, on the sidelines of the G20 Leaders Summit in New Delhi, is a positive step towards promoting global cooperation on sustainable biofuels and

'Net zero goal still alive', says IEA but world still faces major obstacles

Net zero goal still alive, says IEA but the world still faces major obstacles to reach it

India's renewable energy boom not fast enough for 1.5-degree C goal: Report

India's renewable sector is booming but just not fast enough to become 1.5-degree Celsius compatible, and the country is heading in the opposite direction entirely when it comes to phasing out coal power, a new report by Climate Action Tracker claimed on Tuesday. The Union environment ministry, however, said the report completely ignores the concept of "fair share and cumulative historical responsibility of developed nations". It said the Indian government has been implementing a number of schemes and programmes, both in terms of mitigation and adaptation and the report totally ignores this aspect. The report by the independent research group that tracks government climate action and measures it against Paris Agreement goals comes on the eve of the United Nations' Climate Ambition Summit. It analyses whether the plans of 16 countries to decarbonise their power sector align with the goal of keeping global warming below 1.5 degrees Celsius. These 16 countries include Australia, Braz