Page 28 - Energy Sector

Schneider Electric invests undisclosed amount in Biofuels Junction

Energy management and automation firm Schneider Electric on Friday said it has made an equity investment in Biofuels Junction. The investment has been made through Schneider Electric Energy Access (SEEAA), Schneider Electric said in a statement. SEEAA is the Asia-focused clean energy fund, co-funded by Norfund, EDFI MC and Amundi, it added. "Schneider Electric...has made an equity investment in Biofuels Junction. Through this collaboration, Schneider Electric is empowering Biofuels Junction in their business objective of preventing stubble burning of agricultural waste," it said. The company did not disclose the financial details of the deal. Biofuels Junction is a Mumbai-based clean-energy venture that manufactures and aggregates solid biofuels in the form of briquettes and pellets made from agricultural residues to be used as a replacement for fossil fuels in various industries.

Jakson Green order book reaches Rs 5,000 cr within a year of inception

Energy transition platform Jakson Green on Thursday said it has achieved an order book of Rs 5,000 crore renewable order book within a year of its inception. "Jakson Green, a new energy transition platform backed by India-based infrastructure and renewables conglomerate, Jakson Group, proudly announces its monumental achievement of amassing a renewable EPC order book of around Rs 5,000 crore within a year of inception," the company said in a statement. This extraordinary feat was recognised through a series of recent order victories in India, GCC, West Africa and CIS region, marking an unprecedented milestone in a remarkably short timeframe, it added. The company's ascent to this substantial order book has been driven by its success in securing pivotal utility-scale renewable EPC projects in West Africa, GCC and CIS countries, alongside a substantial array of renewable EPC contracts in India. Jakson Green recently inked significant deals with leading renewable energy developers to

Govt clears Rs 3,760 cr viability gap fund to enhance battery storage

The Union Cabinet on Wednesday approved a Rs 3,760 crore viability gap funding for setting up battery energy storage system in the country, said Information and Broadcasting Minister Anurag Thakur. The entire Rs 3,760 crore viability gap funding will be borne by the central government, the minister said while briefing media about the Cabinet decisions. The fund will be released in five tranches till 2030-31 and help in creation of 4,000 MW hours storage. The viability gap funding, Thakur said, will lead to an investment of Rs 9,500 crore. India aims to meet its 50 per cent of energy requirements through renewable energy and non-fossil energy sources.

LNG supply disruption could cause major price volatility: Wood Mackenzie

Asian liquefied natural gas (LNG) buyers are navigating a near-term market that is so finely balanced that any supply disruptions or demand upsides could cause significant price volatility, according to Mangesh Dilip Patankar, Vice President, APAC Gas and LNG Consulting at Wood Mackenzie. Speaking on the sidelines of the Gastech 2023 conference being held during September 5-8 in Singapore, Patankar said that the LNG market is at a critical juncture and the uncertain outlook has affected pricing and contract terms significantly and widened the gap between buyer and seller aspirations. "Many LNG buyers face the challenge of ensuring LNG supply security, while keeping their procurement costs competitive and contractual terms flexible," Patankar said on Tuesday. "Simultaneously, the terms in LNG SPAs (sale and purchase agreements) are also evolving as LNG trading increases." According to Wood Mackenzie Lens, Australia and Qatar will be biggest suppliers of LNG to Asia throughout 2023-20

Eveready growth to be backed by 'adequate' profitability: MD Suvamoy Saha

Eveready achieved a growth of 10 per cent over the previous year in its topline, driven primarily by the premiumisation of product portfolio

Govt has put in eco-system for development of Green Hydrogen: Hardeep Puri

Hardeep Puri said," We have a natural advantage in producing Green Hydrogen as we have an abundance of solar energy and investments in our power grid

Centre may set mandates for industrial use of green hydrogen: Official

India has set a goal of producing 5 million metric tonnes of green hydrogen annually by 2030, with about 70% of that marked for export markets, he said

Green hydrogen to be future fuel: R K Singh urges industry participation

Green hydrogen is going to be the future fuel in India, Union Minister R K Singh said while urging investors to invest in the country to manufacture the clean energy source. The minister for power, new and renewable energy made the remarks at the first International Conference on Green Hydrogen 2023. "We will help you in developing (green hydrogen) projects. We will also help you with demand as well. Come and partner with us," he said addressing the conference attended by over 2,500 participants. The investors can partner for development of electrolysers, mechanism for transportation of green hydrogen, usage of green hydrogen in manufacturing for green steel and cement etc, he said adding India is the biggest market in the world. Like the field of renewable energy, India shall emerge as a leader in green hydrogen also, Singh said. There are industries which have started working to set up 3.5 MT capacity of green hydrogen. They are engaged with various states for acquisition of lan

Adani-Total Gas to invest Rs 20k cr in 8-10 yrs to expand retail CNG line

Adani Total Gas Ltd, the joint venture of billionaire Gautam Adani's group and French energy giant TotalEnergies, will invest Rs 18,000 crore to Rs 20,000 crore in the next 8 to 10 years to expand infrastructure for retailing CNG to automobiles and piping gas to households and industries, its CFO said. The company retails CNG to automobiles and pipes gas to household kitchens for cooking purposes in 52 licences that cover 124 districts of the country. It has 460 CNG stations in the country and about 7 lakh consumers of its piped cooking gas. It is looking to expand its network of CNG stations as well as pipeline network that takes the gas to household kitchens and industries, to tap into the country's growing appetite for cleaner fuel. In the company's latest annual report, Adani Total Gas Ltd (ATGL) chief financial officer Parag Parikh said the company invested over Rs 1,150 crore in 2022-23 (April 2022 to March 2023) for creating additional infrastructure. "From a long-term ...

BSE Power index gains 2% on hopes of higher demand; NTPC hits 5-year high

Ratings agency ICRA said the likelihood of El Nino in FY24 may have a positive impact on electricity demand.

Gaurs Group forays into energy sector with 15 MW solar power project in UP

The company shared that this will result in a reduction of 18 thousand tonnes of carbondioxide equivalent annually

Missing in action: Dearth of domestic infra finance in energy sector

The resources of state-owned entities are too puny for the enormous requirements, especially in renewable energy

Siemens Energy weighs sale of electrical components maker Trench

Siemens Energy is analyzing how to improve the long-term profitability and competitiveness of its bushings, instrument transformers and coils business, according to a spokesperson

Jaishankar meets Guyana PM; discusses energy sector, disaster resilience

Minister of External Affairs S Jaishankar has called on Guyanese Prime Minister Mark Phillips and vowed that India will partner with the South American country in its developmental journey. During the meeting on Saturday, the two leaders discussed bilateral cooperation in energy, disaster resilience and preparedness, as well as defence. Jaishankar, who is on his first visit to Guyana, tweeted that he was happy to meet Prime Minister Phillips and other leaders here. "Discussed energy, disaster resilience & preparedness and defence cooperation. India will partner Guyana in its developmental journey," he tweeted. In another tweet, Jaishankar wrote that "Delivered by India" was a growing global infra reality. The minister in another tweet said he paid a site visit to the East Bank-East Coast Road Linkage Project along with Minister of Public Works Deodat Indar and interacted with workers and senior staff. "Impressed by their enthusiasm," he added. Earlier, Jaishankar called on ...

Turkey starts delivery of natural gas from Black Sea field to cut imports

Turkey has started the delivery of natural gas from its Black Sea field, as part of its flagship project aiming at reducing the country's dependence on energy imports.

Indian, Nepali private companies sign agreement for direct energy sale

In a major boost for energy cooperation between Nepal and India, private entities and companies of both countries on Wednesday inked an agreement for selling and buying energy directly

Govt bets on carbon capture to go green, plans to unveil CCUS policy soon

Experts say this technology will help India meet its emissions goals

Foreign portfolio investors pull out Rs 11k cr from energy, finance, IT

Turn their attention to capital goods, construction, FMCG, consumer durables in March

India's coal plant commissioning slowed, but new proposals persist: Survey

India continued to send mixed signals about its future coal use, as new plant commissioning slowed to their lowest in years, but plans for new projects persist and no clear retirement plans

Indian Energy Exchange trade volume dips 4% YoY to 9212 mn units in March

Indian Energy Exchange's total trade volume declined by 4 per cent to 9,212 million units (MU) in March compared to the same month a year ago. On a month-on-month basis, the trade volume rose by 12 per cent, a statement said. Indian Energy Exchange achieved 9,212 MU overall volume in March 2023, including green market trade of 391 MU, 8.69 lac RECs (equivalent to 869 MU) and 22,881 ESCerts (equivalent to 23 MU), a statement said. The (average spot power) price during March 2023 was Rs 5.25 per unit, lower 23 per cent on MoM basis, due to cooler weather conditions, it explained. The IEX achieved 26,052 MU volume across all segments during Q4 FY '23 (January-March 2023), growing 7 per cent over the previous quarter. Cumulatively for the fiscal year 2023, the IEX traded 96.8 BU (billion units), a degrowth of 5 per cent YoY basis, despite a highly constrained sell-side liquidity, which led to the price increasing by 35 per cent on YoY basis, it explained. The Day-Ahead Market (DAM)