Page 7 - Energy

India need subsidies to meet renewable energy targets: Energy Vault exec

Renewable electricity available at any time of the day and night "is sort of a holy grail," Piconi said. "It's not achievable with the current technologies, because they are not economical."

China refuses to further expand cooperation with Pak in energy under CPEC

China has refused to further expand cooperation in the areas of energy, water management, and climate change under the multi-billion dollar China-Pakistan Economic Corridor (CPEC), it emerged on Tuesday, signalling a strain in the 'ironclad' friendship between the two all-weather allies. Cash-strapped Pakistan also gave up its opposition to setting up a new imported coal-fired power plant in Gwadar in Balochistan province and agreed to a number of Chinese demands to address Beijing's concerns, The Express Tribune newspaper reported, citing the signed minutes of the 11th Joint Cooperation Committee (JCC) of the CPEC. The JCC is a strategic decision-making body of the CPEC and its 11th meeting was held virtually on October 27 last year on the insistence of the Pakistan Muslim League-Nawaz (PML-N)-led government that wanted to showcase some progress. However, the minutes of the meeting were signed almost a year later on July 31 during the visit of Chinese vice premier He Lifeng, ...

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

Russia weaponising food, energy; abducted children in war: Zelenskyy

Ukrainian President Volodymyr Zelenskyy said Tuesday that Russia is weaponising everything from food and energy to abducted children in its war against Ukraine and he warned world leaders that the same could happen to them. When hatred is weaponised against one nation, it never stops there," he said at the UN General Assembly's annual top-level meeting. The goal of the present war against Ukraine is to turn our land, our people, our lives, our resources into weapons against you against the international rules-based order. He pointed to the war's effect on fuel and food supplies. And he highlighted what Ukraine says were at least tens of thousands of children taken from their families after Moscow's invasion: What will happen to them? "Those children in Russia are taught to hate Ukraine, and all ties with their families are broken. And this is clearly a genocide, Zelenskyy said. The International Criminal Court issued an arrest warrant in March for Russian President Vladimir Putin

Energy efficiency focus in Parl lighting, will save 50% power: Official

Energy efficiency is a key focus in the new Parliament building's lighting, and the structure will consume over 50 per cent less power than the conventional system, according to an industry official. The building, inaugurated in May this year and is set to host its maiden session from Tuesday, also has a lot of customised lighting and even chandeliers, a senior official from a vendor handling a part of the lighting said recently. "We are...delivering products, which are very energy efficient. We have integrated sensors with the products, and that's how the complete solution comes out," Raja Mukherjee, the head of the business group for the lighting division at Panasonic Life Solutions, told PTI. There are daylight integration sensors and motion occupancy sensors, which add to the total energy saving, he said. Panasonic has done work on the lighting controls aspect and not the entire lighting, he noted. "From the conventional system, when you migrate to the LED, you already save ..

Avaada Energy, Al Jomaih Energy Water partner for green energy projects

Green energy developer Avaada Group on Monday announced that it has entered into an agreement with Al Jomaih Energy and Water (AEW) to develop renewable power projects in Saudi Arabia. The projects will be developed in Saudi Arabia and selected Middle Eastern regions, Avaada Group said in a statement. "Avaada Energy (group firm) announces a strategic partnership with AEW to pioneer renewable power generation in the Kingdom of Saudi Arabia and selected Middle Eastern regions," the company said. Vineet Mittal, Chairman of Avaada Group, said the alliance is set to explore the potential of solar, wind, hybrid, and battery Energy Storage solutions. Under the Memorandum of Understanding (MoU), AVAADA will act as a technology partner and provider of solutions for renewable energy (RE) installations, while AEW will provide essential resources, the statement said. The MoU was announced amid Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud's official state visit to India. Prime

Private equity firms TPG, Tepco, Brookfield in talks for JSW Neo stake

JSW Energy had earlier announced that it would be shifting its hydro energy projects into subsidiaries under JSW Neo Energy

Ukraine war affects price, energy, food security: German Chancellor Scholz

What cannot be not talked about is the Russian war of aggression against Ukraine and the destruction it is wreaking in Ukraine, he said

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.

India's per capita coal emissions surged by 29% in 7 years: Analysis

India saw a 29 per cent increase in per capita coal emissions in 2022 as compared to 2015, while G20 per capita coal emissions rose by about 9 per cent from 1.5 tonnes of carbon dioxide in 2015 to 1.6 tonnes of carbon dioxide in 2022, according to a new analysis by global energy think tank 'Ember'. The annual report on 'Changes in per capita coal power emissions of G20 countries' also found that 12 out of 20 G20 economies saw declining per capita coal emissions since 2015. "However, G20 per capita coal emissions slightly increased by about 9 per cent from 1.5 tonnes of carbon dioxide in 2015 to 1.6 tonnes of carbon dioxide in 2022. India saw a 29 per cent increase in seven years in per capita coal emissions compared to 2015," said the report which focuses on global transition to clean electricity. Dave Jones, Global Insights Lead, Ember said China and India are often blamed as the world's big coal power polluters. "But when you take population into account, South Korea and Australi

G20 Summit: Russia aims to become 'reliable' supplier of energy resources

Russia will seek to confirm its status as a "reliable and guaranteed supplier" of energy resources and export products to the world at the G20 Summit, the foreign ministry here has said as it confirmed the attendance of foreign minister Sergey Lavrov in New Delhi for the key meeting. Lavrov will attend the meeting instead of President Vladimir Putin, the ministry said, indicating that the Russian foreign minister could also discuss the issue of the grain deal during his bilateral meetings on the sidelines of the G20 summit to be held on September 9 and 10. Since Russia's invasion of Ukraine in February last year, the US-led Western countries have imposed crippling sanctions on Moscow, including a price cap on Russian oil by G7-plus nations, in order to reduce its ability to finance the war on Ukraine. The West has also criticised Russia for violating the Black Sea grain deal with Kyiv which would prevent crucial grain exports from Ukraine from reaching the world markets. At the G20

ReNew Energy records Rs 298.3 crore net profit in April-June quarter

ReNew Energy Global Plc on Saturday reported a net profit of Rs 298.3 crore in the April-June quarter of 2023-24 against a loss of Rs 10.4 crore in the year-ago period. Total income was Rs 2,465.9 crore in the first quarter of FY24 against Rs 2,500.7 crore in April-June 2022, according to a company statement. Days Sales Outstanding -- the average number of days that it takes for a company to collect payment after a sales-- ended Q1 FY24 at 114 days, a 118-day improvement year on year, it stated. "We are reiterating our FY24 guidance. The company expects to complete construction of 1,750 to 2,250 MW by the end of Fiscal Year 2024," it said. As of June 30, 2023, the company's portfolio consisted of 13.7 GWs, a 6.3 per cent increase year on year, of which 8.4 GWs are commissioned and 5.3 GWs are committed. As much as 415 MWs commissioned in Q1 FY24, increasing its operating MWs to 8,395 MWs, an increase of 10 per cent. ReNew is India's leading decarbonisation solutions company liste

Govt unveils Green Hydrogen standards, sets emission limits for production

The government on Saturday unveiled Green Hydrogen standards and included electrolysis and biomass-based methods in its definition. In a significant move for the progress of the National Green Hydrogen Mission, the government has notified the Green Hydrogen Standard for India, the New and Renewable Energy Ministry said in a statement. The standards issued by the ministry outline the emission thresholds that must be met in order for hydrogen produced to be classified as Green', i.e., from renewable sources. The scope of the definition encompasses both electrolysis-based and biomass-based hydrogen production methods, it stated. After discussions with multiple stakeholders, the Ministry of New & Renewable Energy has decided to define Green Hydrogen as having a well-to-gate emission (i.e., including water treatment, electrolysis, gas purification, drying and compression of hydrogen) of not more than 2 kg CO2 equivalent / kg H2. The notification specifies that a detailed methodology ..

Swan Energy Limited's Stellar Q1 Performance and Green Vision Ignite Investor Optimism, Stock Receives Strong Buying Recommendation

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Nifty Energy paves way for positive breakout; adopt buy-on-dips strategy

According to Ravi Nathani, an independent technical analyst, charts reveal an encouraging trend for Nifty Energy index, signaling a positive breakout

EESL signs Rs 110 cr agreements with APSHCL to provide energy solutions

State-owned EESL has signed a Rs 110-crore agreement with Andhra Pradesh State Housing Company Limited (APSHCL) to provide energy-efficient appliances to beneficiaries of a government scheme in the state. As part of the partnership, residents of Jagananna colonies under Andhra Pradesh government's Navaratnalu Pedalandariki Illu (NPI) scheme will get 6 lakh LED bulbs, 3 lakh LED tubelights and 3 lakh BLDC ceiling fans through nodal agency Andhra Pradesh State Energy Efficiency Development Corporation Ltd (APSEEDCO), EESL said in a statement. EESL also signed an agreement worth about Rs 50 crore with the Ladakh Autonomous Hill Development Council (LAHDC), Leh to address electricity and cooking needs in remote areas of Leh by distributing rechargeable inverter bulbs and induction cook stoves. Another Rs 50-crore agreement with Loughborough University, UK, signed under the Modern Energy Cooking Service (MECS) programme, EESL aims to drive large-scale promotion and deployment of electric

India making great efforts in green growth, energy transition: PM Modi

Prime Minister Narendra Modi on Saturday said India is making great efforts in green growth and energy transition, and asserted that the country is moving ahead strongly on its climate commitments. Addressing via video link the G20 Energy Ministers' Meeting, which is currently underway in Goa, he also said that India has shown leadership in climate action. "India is making great efforts in green growth and energy transition. India is the most populated nation and fastest-growing large economy. Yet we are moving strongly on our climate commitments," he said. "We achieved our non-fossil installed electric capacity target nine years in advance. We have set a higher target. We plan to achieve 50 per cent non-fossil electricity by 2030," the prime minister said. The world looks up to this G20 group for advanced, sustainable, affordable, inclusive and clean energy transition, he said. "While doing this, it is important that our brothers and sisters in the global south are not left behin

Here is why China is drilling another 10,000-metre hole in the Earth

The project comes after China National Petroleum Corp. began drilling a well in Xinjiang in May, which was described as the deepest in China at that time

Power Finance Corp to lend Rs 2.37 trillion to 20 clean energy projects

Power Finance Corporation (PFC) on Friday said it has entered into loan agreements worth more than Rs 2.37 lakh crore with 20 companies. These firms include Adani Group, Greenco, ReNew Power, Continuum, Avaada, JBM Auto, Rajasthan Renewable Energy and Megha Engineering & Infrastructure, among others. These agreements -- part of the Maharatna company's plan to position itself as the focal funding agency for energy transition -- were signed with companies in the solar, wind, green hydrogen, battery storage, and electric vehicles space as well as manufacturers of green energy equipment. PFC is looking to fund projects like offshore wind, pumped hydro storage, solar modules and cells, among others in the clean energy space, the company said in a statement issued from Goa at a G20 function. Recently, the company diversified its loan portfolio into infrastructure projects, such as refineries, ports, roads, metro, biofuels, waste-to-energy projects etc. Earlier this week Parminder ...

India aims to trade electricity with Southeast Asian countries: Report

The grid linkages, which industry official said could take at least four years to complete, follow India's effort to begin trading power with Middle Eastern countries such as the United Arab Emirates