Page 4 - Energy

Daewoo targets Rs 500 cr revenue by FY27, plans to launch over 100 products

Korean brand Daewoo on Tuesday said it has set the target of achieving a revenue of Rs 500 crore by FY27 from India business and plans to launch over 100 products across multiple categories. Besides, the company is also looking to launch its own branded stores across the country, and aims to open 130 outlets by 2025-2026, it said. Daewoo, which re-entered the Indian market in October last year, has a diverse portfolio ranging from power and energy products such as batteries, solar panels, and inverters to consumer electronics items, including LED TVs and kitchen appliances. According to the company, the consumer durables market in India presents a substantial growth opportunity, as penetration levels remain relatively low with only 18 per cent of households owning air-conditioners and 33 per cent refrigerators while the washing machine ownership stands at 80 per cent. Daewoo aims to fill this gap with innovative, high-quality products that align with the changing lifestyle needs of

Maharashtra to source 50% of energy from non-traditional sources: Fadnavis

Maharashtra Deputy Chief Minister Devendra Fadnavis on Monday said that by 2030, Maharashtra will become the first state in the country to produce 50 per cent of its energy requirements from non-traditional power sources. Fadnavis, who is also the state's energy minister, was speaking at the foundation stone laying ceremony of Avaada Electro Pvt Ltd's integrated solar ingot - wafer, cell, module and electrolyzer manufacturing facility in Nagpur MIDC (Maharashtra Industrial Development Corporation). A lot of changes are taking place in Maharashtra in the field of solar energy sector, he said. In just two-and-a-half years, the Maharashtra government has approved 20,000 megawatt of solar projects in the state, the former chief minister said. In all these years since independence, the state has the capacity for 40,000 MW of solar energy, he noted. However, now in just one year, the capacity of solar pump storage project is 55,000 MW. Similarly, the capacity of wind and solar projects

Can't confirm report on nationalisation of energy companies: Kremlin

Russian authorities have repeatedly said they have no plans to de-privatise large companies, including oil and gas producers

Acceptability of new energy vehicles set to soar by end of decade: Survey

Majority of new car buyers, who participated in a study, were ready to accept new energy vehicles (NEV) as the only option when considering a purchase by 2030, according to a survey. The buyers would be willing to pay a premium of up to 49 per cent for an electric vehicle above the cost of a comparable petrol/diesel vehicle, a survey from Urban Science and The Harris Poll has revealed. Around 83 per cent of the 1,000 prospective Indian buyers covered in the global survey said they will consider buying an NEV by the end of this decade. The survey conducted online by The Harris Poll on behalf of Urban Science received inputs from various markets including India, the US, Australia, China and Germany. The survey stated that the positive outlook for NEVs in India is being fuelled by the rapid expansion of public EV charging network, with a noticeable presence in major cities and emerging in tier-2 cities. There are currently over 6,000 charging stations available in India across major

India draws strength from cooperation with US on sustainable energy: Puri

The Union Minister put forward his expectations that several MoUs will be signed between India and the US during his visit

Essar Energy Transition, SSE partner for 40MW green hydrogen project

Essar Energy Transition (EET) teamed up with UK gas-fired power generator SSE to build a 40 MW green hydrogen project in northwest England, the firm said on Tuesday. "SSE and EET Hydrogen have begun development work on the innovative project at the Stanlow Manufacturing Complex in Ellesmere Port in Cheshire," the firm said in a statement. Known as Gowy Green Hydrogen, it takes its name from the River Gowy and nearby Gowy Meadows Nature Reserve. The initial expected 40 MW facility will deliver hydrogen to industrial offtakers in the region to support them to decarbonise their operations, helping to secure and grow jobs in the region. Gowy Green Hydrogen could be operational as early as 2028, with feasibility studies completed and design and site investigation works underway, the statement said without giving financial details. "A planning application is expected to move forward in 2025 ahead of any final investment decision being made by the two parties," it said. The UK has a str

US imposes sanctions on companies, vessels linked to Russia's Arctic LNG 2

Novatek may be forced to scale back the project following a a raft of US sanctions including ones imposed in August

China to continue with low-carbon electricity reforms: Energy regulator

The world's second-biggest economy has emerged as a global leader in the transition to renewable energy

India, US explore technical exchange to upgrade grid transmission

India and the US have discussed and explored the possibility of technical exchanges on efforts to upgrade grid transmission to handle future load growth during a ministerial-level deliberations. Discussions also covered policy consultations and potential financial support to advance these modernization efforts, a power ministry statement said. In a bid to enhance bilateral cooperation in the energy sector, Union Minister for Power Manohar Lal, accompanied by Minister of State for Power and New & Renewable Energy Shripad Naik and senior officials held a productive discussion with the US delegation led by John Podesta, Senior Advisor to the President for International Climate Policy, it stated. During the discussion, Lal emphasized the longstanding bilateral partnership between India and the US, highlighting the shared commitment to a clean' energy future that fosters economic growth and development. The union minister further stated that Ministry of Power is committed to ...

IGL Q1 results: Net profit falls 8.6% to Rs 400 crore, revenue rises 3.4%

Total gas sale volumes rose 5.3% to 786 million standard cubic meters

India's national interest paramount: Russian FM Lavrov on energy ties

India is a great power that determines its national interests and chooses its partners, Russian Foreign Minister Sergey Lavrov has said, describing as completely unjustified the enormous pressure on New Delhi due to its energy cooperation with Moscow. During a press conference here on Wednesday, Lavrov also termed as "insulting" Ukraine's remarks on the recent meeting between President Vladimir Putin and Prime Minister Narendra Modi in Moscow. I think India is a great power that sets its own national interests, determines its own national interests, and chooses its own partners. And we know that India is being subject to enormous pressure, completely unjustified pressure in the international arena, Lavrov said. Lavrov was responding to a question about Prime Minister Modi's recent visit to Moscow and the opposition faced by India for its energy cooperation with Russia. With Russia presiding over the UN Security Council for the month of July, Lavrov is in New York to chair meetings o

Uttarakhand CM seeks Centre's clearance for 21 new hydel power projects

Stating that only 40 per cent of Uttarakhand's total capacity for hydro electricity generation is being utilised at present, Chief Minister Pushkar Singh Dhami on Monday sought the clearance of 21 new hydel power projects with a capacity of 2123 MW for the state from the Centre. The request was made by the chief minister at a meeting with Union Minister of Power Manohar Lal Khattar when the latter met him at his official residence here. Khattar is on a visit to the state to review the progress of Tehri Hydro Power Complex and various urban development projects in the state. Expert committees have recommended the implementation of 21 new hydel power projects with a capacity of 2123 MW to be built on the Alaknanda and Bhagirathi rivers and their tributaries, the chief minister said. He requested Khattar to take positive steps towards their early implementation as only 40 per cent of the state's total hydro power generation capacity is being utilised at present. The Union minister ..

India's clean air target at risk as gas plan caught in regulatory minefield

New Delhi's ambitious targets to clean its air by decarbonising energy sector will be underpinned by its success in building nascent natural gas segment

Fuel consumption up by 2.6% to 19.99 mn metric tonnes in June: Oil ministry

India is the world's third-biggest oil importer and consumer. The data is a proxy for the country's oil demand

Nxtra commits to get 100% energy for data centre from renewable sources

Airtel's data centre arm Nxtra has joined the RE100 initiative, a flagship global initiative led by Climate Group in partnership with Carbon Disclosure Project, and has committed to sourcing 100 per cent renewable electricity, the company said on Thursday. Nxtra has the largest network of data centres in India with 12 large and 120 edge data centres across the country. "We are an environmentally responsible brand and have been increasingly adopting clean energy alternatives. We are on a healthy trajectory towards achieving our net-zero goals of 2031 and are happy to become a part of the RE100 initiative with a commitment to 100 per cent renewable electricity," Nxtra by Airtel, CEO, Ashish Arora said in a statement. According to the statement, Nxtra has become the only data centre organisation in India to have pledged to RE100 and the 14th Indian company to achieve this milestone. The company claims to have increased its renewable energy use and has contracted 422,000 MWh renewable

South Korea's Prez Yoon heads to Central Asia for talks on energy, minerals

Yoon will visit Turkmenistan with the first lady for a state visit before heading to Kazakhstan and Uzbekistan

Russia strikes energy facilities in air attack on Ukraine, say officials

Power generation and transmission facilities in the Poltava, Kirovohrad, Zaporizhzhia, Lviv, Ivano-Frankivsk, and Vinnytsia regions were targeted

BJP manifesto: Party promises energy access through Ujjwala, solar power

PMUY will be expanded further and piped gas connections will be extended beyond the current 11 million households, BJP said in its election manifesto

NTPC records highest-ever power generation of 422 bn units in FY24

State-owned power giant NTPC on Sunday said it has logged an all-time high annual electricity generation of 422 billion units in 2023-24. During 2023-24, the NTPC coal stations recorded a plant load factor (PLF, or capacity utilisation) of 77 per cent, NTPC said in a statement. According to the statement, NTPC Ltd, India's largest power generating company, recorded its highest-ever yearly generation of 422 billion units in 2023-24, registering a growth of nearly 6 per cent over 2022-23. The company had on September 1, 2023 recorded the highest-ever single-day generation of 1,428 million units. The stellar performance of NTPC units is a testimony to the expertise of NTPC engineers, operation and maintenance practices, and robust systems, the statement added.

Govt reduces gas price for Reliance to $9.87; rate for CNG, PNG unchanged

The government on Sunday cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to USD 9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said. However, the price of gas that is used for making CNG for fuelling automobiles or piping to household kitchens for cooking purposes will remain unchanged due to a price cap that is set at 30 per cent less than market rates such as that paid to Reliance. For the six-month period starting April 1, the price of gas from deepsea and high-pressure, high-temperature (HPTP) areas has been cut to USD 9.87 per mmBtu from USD 9.96, oil ministry's Petroleum Planning and Analysis Cell (PPAC) said in a notification. This is the third straight bi-annual reduction in rates for difficult fields. Price was for six months beginning October 1, 2023 slashed 18 per cent to USD 9.96 per mmBtu from USD 12.12 for the April to ..