Page 27 - Energy Sector

TotalEnergies representative Ahlem Friga-Noy on Adani Green board resigns

Adani Green Energy Ltd (AGEL) on Friday said Ahlem Friga-Noy, a nominee director representing TotalEnergies on the board of the company, has tendered her resignation. TotalEnergies has nominated a new nominee director in place of Ahlem Friga-Noy, AGEL said in a regulatory filing. "Ahlem Friga-Noy nominee Director (representing TotalEnergies) on the board of the company has submitted her resignation with effect from October 23, 2023. Total Energies has nominated a new nominee director in place of Ahlem Friga-Noy," it said. The proposal for the appointment of a new nominee director shall be placed before the nomination and remuneration committee and Board of the company, in due course, the filing said without sharing any further detail. In September, Adani Green Energy Limited (AGEL) and TotalEnergies entered into a binding agreement to create a new JV, equally owned by TotalEnergies and AGEL, with a 1,050 MW portfolio.

National carbon trading system to cover 15% of emissions by 2030: BEE

The market is likely to initially cover heavily polluting industries including steel, cement, paper and pulp, petrochemicals and aluminum, subject to their readiness, said official

Russia will never be seen as reliable energy supplier: US energy official

Russia has played down the impact of Western sanctions, saying they are used by the United States to eliminate Moscow as a competitor in global energy supplies

Toyota and energy company Idemitsu to cooperate on EV battery technology

Japan's top automaker Toyota agreed on Thursday to work with Idemitsu, a major Japanese oil company, on technology for mass production of solid-state batteries that promise to be a key component in future electric vehicles. The deal is an important step for Toyota Motor Corp., which has promised to speed up its battery EV offerings and catch up after having fallen behind rivals like Tesla and China's BYD. Toyota lags partly because of its success in hybrids, like the Prius, that are equipped with both gasoline engines and battery-powered motors. Toyota, with its production finesse, and Idemitsu, which owns technologies in materials, said they are aiming for successful commercialisation of all-solid-state batteries in 2027 or 2028, followed by full-scale mass production. With repeated efforts involving trial and error, we have succeeded in developing a material that is more stable and less prone to crack, Toyota Chief Executive Koji Sato told reporters in Tokyo, after shaking hands .

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

India's energy sector has undergone a remarkable transformation: RK Singh

India's energy sector has undergone a remarkable transformation, aimed at providing reliable, affordable and sustainable energy to its people, Union Minister RK Singh said on Sunday.The Union Minister for Power and New and Renewable Energy was speaking after India and Saudi Arabia signed a Memorandum of Understanding in Riyadh in the fields of electrical interconnections, green hydrogen and supply chains.As per the Ministry of Power, the MoU was signed between Union Minister for Power and New & Renewable Energy, RK Singh and the Minister of Energy, Government of Saudi Arabia, Abdulaziz bin Salman Al-Saud on the sidelines of the Middle East and North Africa (MENA) Climate Week in Riyadh on Sunday.This MoU aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection; exchange of electricity during peak times and emergencies; co-development of projects; co-production of green/clean hydrogen and renewable energy; and also

Renewable tech can improve energy security by diversifying supply: IWTMA

Renewable technologies can improve energy security by diversifying power supply options, a senior official of the Indian Wind Turbine Manufacturers Association said on Wednesday. The future lies in round the clock power through renewable energy. The solution lies in wind or solar energy equipment, the Association's secretary general D V Giri said in a release. "Renewable energy is providing affordable electricity and can also help stabilise energy prices in the future. Renewable technologies can also create a system less prone to market shocks and improve energy security by diversifying power supply options that are currently available," he said during the inaugural of the three-day "wind energy India 2023." Tamil Nadu Generation and Distribution Corporation Ltd Chairman and Managing Director Rajesh Lakhoni, Danish Ambassador to India Freddy Svane who were present on the occasion underscored the need for a collaboration, policy reforms and technology innovation to accelerate the ...

Crude oil falls $1 on demand fears, Saudi confirms cuts to year-end

Brent crude oil futures were down $1.58, or 1.74%, to $89.34 a barrel at 1045 GMT, while U.S. West Texas Intermediate crude (WTI) fell $1.60, or 1.79%, to $87.63 per barrel

Indian Energy Exchange's overall trade volume grew to 9,147 MU in Sept

Indian Energy Exchange (IEX) logged around 13 per cent growth in overall trade volume to 9,147 million units (MU) in September. It reported an overall trade volume of 8,116 MU in the year-ago period, an IEX statement said on Wednesday. IEX achieved 9,147 MU overall volume, including green market trade of 230 MU, 5.15 lakh RECs (Renewable energy certificates, equivalent to 515 MU) and 1.06 lakh ESCerts (energy saving certificates, equivalent to 106 MU). According to the statement, the overall volume traded during the month increased 13 per cent on a Year-on-Year (YoY) basis. The demand momentum witnessed in August 2023 continued in September 2023, it stated. For the second quarter of the fiscal year 2023 (July-September), the IEX achieved 26,533 MU, resulting in 15 per cent YoY growth across market segments. The Day-Ahead Market (DAM) achieved 3,467 MU volume in September. The average market clearing price was Rs 6.23 per unit in September as compared to Rs 5.63 per unit in Septem

Govt invites France's TotalEnergies to bid for oil exploration rights

India buys more than 84% of the oil it needs from overseas and is seeking to quickly develop its hydrocarbon reserves to reduce import dependence

Luminous Power aims to double growth in next 4 years; to invest Rs 2,000 cr

Energy storage solutions company Luminous Power Technologies aims to double its growth in the next four years, and is looking at solar energy vertical as a major growth enabler, where it is investing substantially, CEO Preeti Bajaj said. Luminous Power, now completely owned by French engineering company Schneider Electric, has plans to invest around Rs 2,000 crore in capacity expansion of its existing plants, a solar greenfield project, research and development (R&D), digitisation, brand building and channel engagements. The company sees solar as a "growing market" and reach an "inflection" point in the next 2-3 years in terms of cost, as demand for clean energy sources is going to rise, where Luminous Power aims to be a leading company in this transformation journey here, she said. "Our vision is that solar will be a substantial part of our business," said Bajaj. With the rise in per capita income and increase in power consumption due to multiple appliances in urban households, ..

Moody's upgrades Tata Power rating to Ba1, maintains stable outlook

According to a report from Moody's, the rating upgrade to Ba1 is driven by Tata Power's solid financial metrics, which are projected to remain above the upgrade trigger set for the earlier Ba2 rating

EKI Energy Services picks up 26% stake in WOCE Solutions for Rs 80 lakh

EKI Energy Services Ltd on Friday said it has completed the acquisition of a 26 per cent stake in WOCE Solutions Private Limited (WOCE) for around Rs 80 lakh. In March 2023, its Board of Directors approved to subscribe to 35,140 equity shares of Rs 10 each at a premium of Rs 217.66 per share of WOCE Solutions Private Limited (WOCE), which resulted in the acquisition of 26 per cent of the equity capital of WOCE, EKI Energy Services Ltd (EKESL) said in a regulatory filing. "EKESL has successfully acquired 35,140 equity shares of WOCE, constituting 26 per cent of the equity shares capital of WOCE. As a result of the same WOCE has become an associate of the company," it said. A consideration of Rs 79.99 lakh will be paid in cash for the subscription of shares. EKESL said the acquisition will enhance the company's sustainability services by extending the facility to calculate and track carbon footprint. EKI Energy Services is a carbon credit developer and supplier across the globe.

Amara Raja Batteries rebrands as Amara Raja Energy & Mobility Ltd

The name change aims to better reflect the expansion of the organisation and encompass the range of solutions and products offered such as renewable energy storage solutions and EV chargers

GOBARdhan initiative: Govt launches registration portal for biogas plants

A unified registration portal for GOBARdhan has been introduced to streamline the registration of compressed bio-gas (CBG) and biogas plants in the country, the Ministry of Jal Shakti said on Monday. The Department of Drinking Water and Sanitation (DDWS), in a statement, said that more than 1,163 biogas plants and 426 CBG plants registered on the portal are eligible for assistance under the Market Development Assistance (MDA) scheme of the Department of Fertilizers. According to new guidelines, MDA of Rs 1500/MT will be granted for sale of Fermented Organic Manure (FOM), Liquid Fermented Organic Manure (LFOM), and Phosphate Rich Organic Manure (PROM) produced at biogas and CBG plants under the GOBARdhan initiative. The GOBARdhan initiative aims to get a boost as the new guideline will increase the uptake of organic fertilizer produced from the plants, the statement said "Registration of manufacturing plants on the unified GOBARdhan portal of the DDWS and adhering to Fertilizer Cont

Jindal SAW-Hunting Energy JV eyes M East, Africa to supply OCTG from India

Jindal Hunting Energy Services Ltd (JHESL) is looking to export oil country tubular goods from its plant located at Nashik in Maharashtra. Piping products used in oil and gas production are referred as oil country tubular goods (OCTG). JHESL is a 51:49 per cent joint venture (JV) company between US-based Hunting Energy Services and domestic pipes maker Jindal SAW. On September 18, the JV inaugurated a plant with an annual capacity of 70,000 metric tonnes, which has been set up at a cost of USD 25 million to manufacture and supply pipes and tubes with premium connections to OCTG market in oil and gas sector. JHESL will first cater to the domestic market and continue to explore markets like Middle East and Africa, Neeraj Kumar, Group Chief Executive Officer and Whole-Time Director, Jindal SAW Ltd, told PTI in an interaction. When asked about the timeline for the exports, Kumar said there are certain approvals that need to be received for supplying OCTG. JHESL already has approvals

Adani Group receives certification for India's largest wind turbine

The type certification acknowledges Adani WTG's conformity with the globally recognized IEC 61400 series standards

GMR Group bags Rs 2,470 cr order to install smart meters in Uttar Pradesh

GMR Smart Electricity Distribution Private Ltd has bagged Rs 2,469.71 crore smart meter installation project in Uttar Pradesh, the company said on Wednesday. GMR Smart Electricity Distribution Private Ltd (GSEDPL), a GMR Group company, has received a Letter of Award (LOA) to install smart meters in the Agra and Aligarh zones in UP, GMR Power and Urban Infra Ltd (GPUIL) said. "GMR Group receives LOA for smart metering project from Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL)," GPUIL said in a regulatory filing. The total contract value (inclusive of GST) for Agra and Aligarh zone is about Rs 2,469.71 crore, it said. The GSEDPL will install, integrate and maintain 25.52 lakh smart meters in the aforementioned areas, GPUIL said. The project is expected to be completed in 27 months, it added.

Oil India plans to invest $2 billion in projects, aims net zero by 2040

State-run energy companies - Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, GAIL (India) Ltd, Oil and Natural Gas Corp have already announced their net zero goal

NTPC, V O Chidambaranar Port Authority to develop green hydrogen hub in TN

NTPC Green Energy Ltd (NGEL) and V O Chidambaranar Port Authority (VOCPA) have joined hands to develop a green hydrogen hub at Tuticorin in Tamil Nadu. Both entities signed a Memorandum of Understanding (MoU) in this regard on Friday, NTPC said in a statement. Green hydrogen and its derivatives such as green ammonia and green methanol, will be produced at the hub to be built on the land provided by VOCPA. NTPC Group has a plan to build a renewable energy capacity of 60 GW by 2032 and is working on a pipeline of over 20 GW.