Page 3 - Energy Demand

Coal mining bet stumbles as wary banks weigh rising risks: Official

Coal officials and banking executives in the world's second-largest coal producer discussed the issue at a June meeting called by the government in a bid to ease the funding deadlock

Serentica to source 1500 MW green energy a day from Greenko Group

Serentica Renewables (Serentica) on Monday said it has signed an agreement with Greenko Group for taking daily supply of 1,500 megawatt (MW) from energy storage facilities. The power will be sourced from Greenko Group's upcoming energy storage projects in Andhra Pradesh and Madhya Pradesh and supplied to industrial customers, Serentica said in a statement. "Serentica has signed a first-of-its-kind standalone energy storage capacity offtake contract with global energy storage developer, Greenko Group. As part of this contract, Serentica will leverage Greenko's unique energy storage capabilities to utilise a cumulative 1,500 MWhr capacity," it said. The agreement is for a period of 25 years. Pratik Agarwal, Director, Serentica Renewables, said, long duration energy storage is critical to decarbonizing the country's energy consumption and reducing greenhouse gas emissions. The unique energy storage capacity offtake contract with Greenko puts Serentica on an accelerated trajectory in

UAE announces plans to invest $54 bn in energy, triple renewable sources

The United Arab Emirates plans to triple its supply of renewable energy and invest up to USD 54 billion over the next seven years to meet its growing energy demands. Sheikh Mohammed bin Rashid Al Maktoum, the UAE's vice president and ruler of Dubai, announced the plans on Monday following a Cabinet meeting. They also include investments in low-emission hydrogen fuel and developing infrastructure for electric vehicles. He said the updated national energy strategy aims to triple the contribution of renewable energy over the next seven years and invest 150 billion to 200 billion dirhams (USD 40 billion to USD 54 billion) during the same period to meet the country's growing demand for energy. The major oil-producing nation has pledged to be carbon-neutral by 2050, without fully explaining how, and is hosting the COP28 climate summit later this year. The latest announcement included the formation of an Investment Ministry to be led by Mohamed Hassan Alsuwaidi. He currently serves as the

Kerala can save Rs 9k cr in 5 yrs if it switches to 100% renewable energy

Kerala can save Rs 9,000 crore over a five-year period if they replace coal power purchases with renewable energy contracts by 2040, according to a new study. If the southern state replaces its scheduled purchases of coal power from central sector plants with new renewable energy at an average tariff of Rs 3/kWh, the state would save approximately Rs 969 crore per annum, it said. The report also suggests a transition pathway that sees the most expensive central sector power contracts phased out first, saving the state Rs 4,505 crore through the phase-out of 1560 MW of coal power by 2026-27, the study further said. The significant findings were made by think-tank Climate Risk Horizons (CRH). This finding comes just months after Chief Minister Pinarayi Vijayan announced that the state will aim for 100 per cent renewable energy over the next 17 years. In addition to explaining the financial and climate-related benefits of this move, the CRH report also charts out the transition pa

Statsguru: Six charts explain India's changing energy landscape

The industrial sector is the biggest consumer of electricity and accounted for 41 per cent of the 1,296,300 gigawatt hours of electricity consumed in India in 2021-22

China signs one of its biggest ever LNG deal with Qatar at $60 billion

Qatar Energy will send Sinopec 4 million tons of LNG a year starting in 2026, the state-controlled companies announced in a virtual ceremony on Monday

CO2 emissions from buildings, construction sector hit new high: Report

The sector's operational energy-related CO2 emissions reached 10 gigatonnes of CO2 equivalent -- 5 per cent over 2020 levels and 2 per cent over the pre-pandemic peak in 2019.

India's gas reliance grows as Europe cuts down on energy consumption

India's demand for the fuel has slumped 5 per cent in the April-September period of FY23 to 31.5 billion cubic metres from a year ago, after rising 5 per cent 2021-22

EU officials warn of economic slowdown due to energy crisis, high inflation

'If we look at high-frequency indicators and the economic sentiment, we see that many things point to a contraction in economic activity this winter'

Emissions to hit a peak by 2025, demand for fossil fuel to reduce: IEA

Global greenhouse emissions will peak in 2025 as the world goes through a "profound reorientation" in terms of energy use, said the World Energy Outlook 2022 report

India likely to see biggest jump in energy demand globally, says IEA

India is likely to see the world's biggest rise in energy demand this decade, with demand climbing 3 per cent annually due to urbanisation and industrialisation, the International Energy Agency (IEA) said in its World Energy Outlook released on Thursday. While the push for renewable energy will see it meeting as much as 60 per cent of the growth in demand for power, coal will continue to meet a third of overall energy demand by 2030 and another quarter will be met by oil. "India becomes the world's most populous country by 2025 and, combined with the twin forces of urbanisation and industrialisation, this underpins rapid growth in energy demand, which rises by more than 3 per cent per year in the Stated Policies Scenario (STEPS) from 2021 to 2030," IEA said. "It sees the largest increase in energy demand of any country." Even though India continues to make great strides with renewables deployment and efficiency policies, the sheer scale of its development means that the combined ...

'It will continue to be a rough ride, with few places to shelter'

'It will continue to be a rough ride, with few places to shelter. Geographically and geopolitically the US, despite being in the middle of much of the turbulence, should continue to be an attractive '

India to cater to 25% of global energy demand in next 20 yrs: Hardeep Puri

Petroleum Minister Hardeep Puri has said that 25 per cent of the global energy demand growth in the next two decades is going to emanate out of India.

Europe energy crisis to last more than a winter amid tight supply: Analyst

Russia's invasion of Ukraine upended energy flows and rippled through global markets, driving up natural gas prices and forcing drastic measures such as Germany nationalizing its biggest importer

Germany well-placed on energy to get through winter: Olaf Scholz

Germany is well-placed to get through this winter with enough energy thanks to efforts to shore up supplies, Chancellor Olaf Scholz said Wednesday, dismissing criticism from the opposition. Center-right opposition leader Friedrich Merz charged in parliament that Scholz's three-party coalition lacks any strategic thinking and assailed a decision this week to stick in principle to a long-held plan to shut down Germany's last three nuclear power plants at the end of this year. The government, he said, may be damaging German companies irreparably. An unusually combative Scholz responded that his coalition has worked since it took office in December to prepare for problems that ministers from Merz's party in the previous government failed to anticipate. He pointed to a decision to require filling natural gas storage facilities for the fuel used to heat homes, generate electricity and power industry. Those facilities are now over 86% full, at a time when Russia has cut off gas supplies ..

Road ahead for investors amid OPEC output cut, European energy crisis

The European countries are bracing for a winter sans gas as supplies remain disrupted from Russia. And oil prices are above $95 per barrel on the supply cut decision by OPEC+. What next for investors?

European Commissioner for Energy to visit India from September 7-8

In her first visit to India, European Commissioner for Energy Kadri Simson will be in the country from September 7-8 to explore means to boost two-way energy cooperation. The European Union said Simson's visit to Delhi signals the grouping's strong engagement with India in the area of energy. The 27-nation EU and India have robust cooperation in the fight against climate change and biodiversity loss. Simson said as the world faces an energy crisis and climate change challenge, India, with its vast renewable resources, has a strategic role to play in the clean energy transition. The EU and India established a 'Clean Energy and Climate Partnership' in 2016 and have been working closely together on clean energy transition, speeding up the deployment of renewable energy, promoting energy efficiency, collaborating on smart grid and storage technology and modernising the electricity market. Commissioner Simson will hold bilateral meetings with relevant Indian ministers, officials of the

Macron urges French to save energy, seeks 10% drop in use amid crisis

French President Emmanuel Macron is calling for a sharp 10% reduction in the country's energy use in coming weeks and months to avoid the risk of rationing and cuts this winter, amid tensions with supplier Russia over the war in Ukraine. Macron warned Monday that forced energy savings might have to be considered in coming months if voluntary efforts aren't sufficient. He said energy rationing plans are being prepared in case' and that cuts will happen as a last resort. The best energy is that which we don't consume, the French leader said at a news conference, where he urged French businesses and households to save energy, including by turning down heating and air conditioning.

Rolling power cuts 'possible' for companies this winter: French PM

However, she noted that a mechanism of right to consume would allow companies to exchange their cuts

TotalEnergies wins stake in $29-bn Qatar gas project amid energy crunch

Qatar is expanding production of liquefied natural gas amid a worldwide energy crunch