Page 2 - Energy Consumption

Amid increased consumption in India, IEX's electricity volume up 21%

According to the data for October published by GRID-India, the country's energy consumption jumped 22 per cent to 139 billion units as compared to that in 2022

Energy consumption to increase through 2050, outpace efficiency gains: EIA

Global electric-power generating capacity by 2050 is expected to increase by a range of 50% to 100%, and electricity generation by 30% to 76%, the EIA said

Coordination by OPEC+ to ensure predictability on oil markets: Putin

Putin, who leads the world's second largest oil exporter, said Western elites had sown confusion in energy markets

'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

Arunachal inks MoU with Norwegian Institute to channel geothermal potential

The Arunachal Pradesh government on Wednesday signed a memorandum of understanding (MoU) with the Norwegian Geotechnical Institute (NGI) to explore feasibility of harnessing geothermal potentials that the state's numerous hot springs offer. The MoU was signed by state science and technology secretary Repo Ronya and Dr Rajinder Bhasin, technical expert from NGI, in presence of Chief Minister Pema Khandu, Science and Technology Minister Honchun Ngandam, chief secretary Dharmendra and senior advisor of Norwegian embassy in New Delhi, Dr Vivek Kumar. Congratulating the NGI and the department of science and technology, Khandu termed the signing of the MoU as a right step towards green and clean energy production especially in the light of global warming concerns. "It is a great coincidence that this MoU is being signed on World Tourism Day as its theme this year is Tourism & Green Investment' that perfectly goes in tandem with this new initiative," the chief minister said. He expressed

SPIC reports decline in Q1 PAT at Rs 43.97 cr due to global energy prices

Southern Petrochemicals Industries Corporation Ltd (SPIC) has reported a decline in its profit after tax for the April-June 2023 quarter at Rs 43.97 crore, due to rising global energy prices, the company said on Sunday. The city-based agri-nutrient and fertiliser company, a part of AM International, Singapore had reported profit after tax of Rs 66.85 crore during the corresponding quarter of the previous year. For the year ending March 31, 2023, the company's profit after tax stood at Rs 284.44 crore, a statement released by the company said. Commenting on the company's financial performance, SPIC Chairman Ashwin Muthiah said, "The company during the quarter has navigated through a dip in turnover while successfully safeguarding the PAT, as compared to the corresponding period of the previous year, in the face of rising global energy prices." Total income during the quarter under review slipped to Rs 571.19 crore from Rs 753.07 crore recorded in the corresponding period of last ...

Prototype for low-energy consuming switchable smart windows developed

The technique can provide next-generation solutions for low-energy consumption on-demand switchable smart windows that operate between low and high transmittance, said the ministry

MoS Power urges industry to adopt advanced tech to become competitive

Union Minister Krishan Pal Gurjar on Monday urged the industry to adopt advanced technologies for their operations in order to compete at the global level. The Minister of State (MoS) for Power was speaking at the inauguration of 'Advance Industrial Technology Demonstration Centre' at National Power Training Institute (NPTI) at Badarpur here. "Advance technology is a must for the growth of the country. Today, if we have to compete with the world, we will have to adopt advanced technologies," Gurjar, who is also the MoS for Heavy Industries, said. Reduced consumption of energy will bring the production cost of various industries and help them to compete in the market, he said. NPTI Director General (DG) Tripta Thakur said industries like iron and steel, cement, pulp & paper, and textile together contribute around 30 per cent to the total commercial energy consumption in India. "The institute under the guidance of the Ministry of Power will educate on best practices and technologies

Sale of petroleum products halves in Pakistan, high inflation to blame

The marginal recovery in diesel sales during the month of April can be attributed to increased mobility due to the festive season and Eid holidays

SECI's renewable energy trade over 35 BU mark in FY23; records 59% volume

State-owned SECI traded 35 billion units of renewable energy (RE) during financial year 2022-23, registering a year-on-year (y-o-y) rise of 59 per cent, an official statement said Monday. During the year, Solar Energy Corporation of India Limited's (SECI) revenues from power trading crossed Rs 10,000 crore-mark for the first time since its inception, Ministry of New and Renewable Energy (MNRE) said. "SECI has traded over 35 BU, a jump of over 59 per cent in its RE power trading volume in FY23 over the previous year. Likewise, the revenue from power trading has crossed the Rs 10,000 crore-mark for the first time since its inception," the ministry said. In the statement, SECI MD Suman Sharma said India is witnessing an energy transition towards sustainable sources at an unprecedented pace. "We are striving hard to have the maximum contribution in the nation's journey towards 500 GW of non-fossil fuel by 2030, as announced by the Prime Minister (Narendra Modi). Entire team of employee

Denmark's energy consumption down in 2022 as renewables gain ground

In contrast, consumption of oil products increased by 5.3%, "primarily as a result of increased sales of fuel for domestic and international aviation from Danish airports"

Rising heat across parts of India raises alarm on another energy crunch

Peak demand for electricity touched 211 gigawatts in January, close to an all-time high last summer when heavy industry roared back from pandemic curbs

OTPC inks pact to develop 250 MW battery energy storage system in Assam

ONGC Tripura Power Company Ltd (OTPC) has signed a pact to develop battery energy storage project in Assam at an investment of Rs 2,000 crore, the firm said in a statement. The memorandum of understanding (MoU) was signed with Assam Power Distribution Company Limited (APDCL) at Guwahati "to develop battery energy storage system project of capacity up to 250 MW / 500 MWh in phased manner in Assam by incorporating a joint venture company," it said. "An investment of Rs 2,000 crore will be made in the state for developing the project," the statement added without giving a time frame. OTPC is a joint venture of Oil and Natural Gas Corporation (ONGC), gas utility GAIL (India) Ltd, Government of Tripura and India Infrastructure Fund-II. It owns and operates a 726 MW gas based power plant which caters to 25 per cent of energy demand of all seven north-eastern states. Highlighting the benefits of the project, OTPC managing director Sanil C Namboodiripad said that the project will help the

Parliament passes bill to mandate use of renewable energy, carbon trading

The Bill is expected to be a step for India toward fulfilling its goals of cutting emissions and the use of renewable energy

There's upside potential in Cement sector as prices rise across regions

Analysts expect H2 to be better and infra spending to be hiked in the Budget; benign energy prices and demand improvement are other triggers

Germany ramps up power generation from coal amid energy crisis: Report

More than a third of electricity produced and fed into the grid in Germany in the third quarter of 2022 was generated by coal-fired power plants, according to a report based on provisional results

Worldwide sales of heat pumps to soar to record levels in coming years: IEA

Worldwide sales of heat pumps are set to soar to record levels in coming years as the global energy crisis accelerates their adoption, IEA said

G20 summit: PM to participate in sessions on food & energy security, health

Narendra Modi will take part in sessions related to food and energy security, health as well as digital transformation in the G20 summit at Bali in Indonesia, Foreign Secretary Vinay Kwatra said

Turkish inflation tops 85% driven by surge in food prices, energy costs

Turkish annual inflation accelerated for the 17th month in a row in October, driven by a surge in food prices and energy costs, to its likely peak during President Erdogan's two decades in power

EU to provide $504 mn in grants for Western Balkans to tackle energy crisis

The European Union (EU) will provide 500 million euros ($504 million) in grants for the Western Balkan countries to tackle energy crisis, European Commission chief Ursula von der Leyen said here