Page 3 - Energy Industry

BPCL plans refining, petchem projects over 5-7 years to meet energy demand

India's annual consumption of refined fuels and petrochemicals is expected to rise steadily by 4-5 per cent and 7-8 per cent in the 'foreseeable future'

Gail, Petron sign pact to explore setting up bio-ethylene plant in India

State-owned gas utility GAIL (India) Ltd on Thursday said it has signed an agreement with US biofuel producer Petron Scientech Inc to jointly explore setting up of a 500 kilo tonnes per annum bio-ethylene plant in India. The memorandum of understanding provides for the two firms looking at setting up the plant based on bioethanol in a 50:50 joint venture, GAIL said in a statement. While GAIL is India's largest natural gas transportation and marketing company, Petron specializes in setting up biomass and grain processing biorefinery projects to produce ethanol, bio-ethylene, bio-chemicals (ethylene oxide / mono ethylene glycol, Methanol) and various bio-fuel projects worldwide. "In line with the MoU, GAIL and Petron will jointly undertake feasibility studies to ascertain technical viability and financial prospects of the project. Both the parties endeavour to secure investment approval from their respective management for investment in the project and forming a JV company," the ...

India should have a strategy that's focused on strengths: Jeffrey Goldmeer

Goldmeer illustrates how gas-fired generators can be the third leg of an energy storage tripod, with the other two being battery and pumped storage

Inox Wind secures 201 MW project from Integrum Energy Infrastructure

Wind energy solutions provider Inox Wind on Tuesday said it has secured an order for a 201 MW project from Integrum Energy Infrastructure. This is an equipment supply order for IWL's latest 3 MW Wind Turbine Generators (WTGs), a company statement said, adding that Inox Wind will also provide post-commissioning multi-year operations and maintenance (O&M) services. The project will be executed across four states -- Madhya Pradesh, Rajasthan, Karnataka and Maharashtra. According to the statement, Inox Wind has bagged an order for 201 MW from Integrum Energy Infrastructure Ltd, a leading C&I (Industrial and Commercial) player. Inox Wind CEO Kailash Tarachandani said, "Integrum has been a longstanding partner for us, and we are delighted that they have reaffirmed their faith in our product and solutions with this large equipment supply order for 201 MW". Integrum Energy founder and CEO Anand Lahoti said, "Integrum is on a strong growth journey, focusing on providing hybrid ...

How 'islands of energy' could help Israel build wartime resilience

Israel's energy transition plan has been in the works for years but took on greater urgency when war broke out on several fronts

Industry body seeks PLI expansion, cut in GST on batteries, charging infra

Industry body India Energy Storage (IESA) has demanded that the government reduce the goods and services tax (GST) on batteries and electric vehicles charging infrastructure services as well battery swapping. Ahead of the India Energy Storage Week 2024 (IESW) in New Delhi from July 1-5, 2024, the IESA also suggested expansion of production-linked incentive (PLI) schemes for battery components and battery raw materials processing industry, in a wishlist submitted to the government, a statement said. "Lithium ion batteries current GST rate is 18 per cent and other batteries is 28 per cent. We want all batteries to come under the 18 per cent GST bracket. Charging infra services and battery swapping services should be reduced to 5 or 18 per cent from the existing 28 per cent," IESA President Rahul Walawalkar said in the statement. He lauded the government for the initiatives like advanced chemistry cell battery (ACC-PLI), Auto-PLI, Auto Components PLI, etc. He suggested further expansi

Energy ministries: Delicate balance between energy security, rising demand

Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.

Reliance's tech pact with Norway's Nel to accelerate new energy investments

Reliance Industries Ltd's technology partnership with Norway's Nel ASA will help accelerate its new energy investments, including in the production of green hydrogen that will aid billionaire Mukesh Ambani's pivot towards green energy. Reliance (RIL) on May 21 entered into a technology licensing agreement that provides the company with an exclusive license for Nel's alkaline electrolysers in India and also allows it to manufacture the Norwegian company's alkaline electrolysers for captive purposes globally. "We see this as a win-win for RIL and Nel as it supports RIL's ambition to accelerate its new energy ambitions, build an integrated energy vertical (new energy powering existing energy investments) and decarbonise the portfolio," brokerage Morgan Stanley said in a note. For Nel, it provides a revenue stream that it could not access on a standalone basis in India and may provide a new revenue stream that will not solely depend on the company's ability to execute on securing new ..

Supporting the Government Clean Energy Initiative, Mercury EV-Tech breakthrough Hydrogen Storage Partnership with Hydrogen Horizons Ltd

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Eyeing $1 bn revenue, Happiest Minds revamps organisational structure

Each new industry group will be led by a head who will frame the strategy, business plan, go-to-market, sales, domain capability, and overall customer and people experience

Adani Energy Solutions appoints Kunjal Mehta as CFO with effect from Apr 1

Adani Energy Solutions Ltd on Monday announced the appointment of Kunjal Mehta as its Chief Financial Officer with effect from April 1, 2024. The development follows the resignation of incumbent Chief Financial Officer (CFO) Rohit Soni on Monday, Adani Energy Solutions Ltd (AESL) said in an exchange filing. "Kunjal Mehta, presently serving as CFO within Adani Portfolio of Companies, will assume the role of Chief Financial Officer of the company (a key managerial personnel, categorised as senior management personnel), commencing from April 1, 2024," the company said. Soni will relinquish his position as CFO of the company from the business hours on March 31, 2024. Soni will assume the new role of CFO at Adani New Industries Ltd (ANIL), the green hydrogen arm of Adani Enterprises, the filing said. While accepting the resignation letter from Soni, the company's board also approved the appointment of Kunjal Mehta as the new CFO-designate. Mehta presently serves as CFO of Adani Electr

Coal production to touch 1 bn tonnes for first time: Union minister Joshi

Union Minister for Coal and Mines Pralhad Joshi on Tuesday said for the first time, the country's coal production is going to cross 1 billion tonne. India is going to stop the import of substitutable coal from next year, Joshi said at the second State Mining Ministers' Conference here. The union minister said there are going to be many difficulties in the coming days as the country will have to do gasification of coal. "Along with these things (difficulties), as far as coal is concerned, this time we are going to cross production of one billion tonnes. This is happening for the first time... I am assuring the country that we are going to stop the import of all substitutable coal from next year," Joshi said. According to him, like petroleum and natural gas, the mining ministry is also very important for the country's economy to grow and become the third largest in the world. Further, he said that the mining revenue of Odisha was Rs 5,000 crore in 2013-14 and after the auction was .

Reliance to commission new energy giga complex in Gujarat this year

Billionaire Mukesh Ambani's Reliance Industries Ltd will commission a new energy giga complex in Gujarat in the second half of 2024, the company said in an earnings statement and investor call. Reliance is building a giga complex spread over 5,000 acres in Jamnagar in Gujarat. The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. "On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors. Post announcement of third-quarter earnings on Friday, Ambani stated that the "New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels." The Dhirubhai Ambani Green Energy Giga Complex will be among the largest integrated renewable energy manufacturing facilities in the world. Reliance

Pawan Munjal-backed Exponent raises $26.4 million in Series B round

The fund would help the firm to deploy 1,000 e-pumps (charging stations) and have 25,000 EVs powered by Exponent by 2025

Energy stocks boost India's blue-chips; financials and IT caps gain

Small- and mid-caps have gained 37% and 28% in 2023 so far, compared to 7.4% rise in the Nifty

The silver-solar connection

Climate finance and advances in solar technology will shape the future of the energy industry

Repos Energy to raise Rs 100-300 cr in Series A funding by June next year

Energy distribution startup Repos Energy plans to raise Rs 100-300 crore in Series A funding round for building technology and enhancing geographical reach, its co-founder Aditi Bhonsale Walunj has said. The company is expecting to raise the capital in the next 6-8 months, and is in discussion with various investors including private equity as well VC investors, she said. The Pune-based firm, a supplier of diesel-dispensing browser for door-step delivery to commercial buyers for fuel, has raised Rs 50-60 crore so far in both equity and debt, Walunj said. Going ahead we are planning to raise around Rs 100-300 crore in our Series A round depending upon the right valuation that we get and the requirement at that time, Walunj said. She said the capital raise could come from VCs, PE funds, HNIs or through a strategic partnership and the talks are going on with all of them. The funds are going to be utilised primarily for expansion of geographical reach along with building technology

Diversity best bet, no one-size-fits-all solution to energy transition: PM

We are perhaps the first among the G20 countries to have achieved our climate targets nine years ahead of the scheduled date, he said

Rosneft CEO Igor Sechin discusses energy industry prospects at Energy panel

An Energy Panel was held as part of the XXVI St Petersburg International Economic Forum and Rosneft's Chief Executive Director Igor Sechin gave the keynote speech at the event.

There two NSE indices look bullish on charts amid market volatility

Considering the bullish trend in the Nifty Energy Index, the recommended trading strategy would be to buy on dips