Page 10 - Green Energy

Right to a future: What would it mean to have a law on climate change?

The apex court has made an 'observation' on the right to be free from the adverse effects of climate change. Can this pave the way to a cleaner future?

REC gets 60.5 bn yen green loan from Italian export credit agency SACE

The arrangement between SACE and REC is a breakthrough and a first-of-its-kind collaboration between an Indian government entity and SACE

Nepal aims to export 10,000 MW hydroelectricity to India: President Paudel

The Nepal government has accorded top priority to the development of the hydropower sector and aims to export 10,000 MW of hydropower to India in the next decade, President Ramchandra Paudel said on Thursday. Nepal wants to contribute towards promoting renewable and green energy in our neighbouring market by harnessing its immense hydro-potentiality, said Paudel while inaugurating the three-day Himalayan Hydro Expo 2024 at Bhrikutimandap here. The Nepal government is moving ahead in collaboration with the private sector by pursuing the aim to export 10,000 MW of hydroelectricity to India in the next ten years as per the bilateral agreement reached between the two countries a few months ago, he said. He urged the government to make necessary legal reforms so that both the private sector within the country, as well as foreign investors, may find a conducive environment to invest in the hydropower sector. The economic prosperity and development sought by the people of Nepal is only ..

KPI Green Energy Q4 results: Net profit rise 36% to Rs 43.04 crore

KPI Green Energy on Thursday posted nearly 36 per cent rise in consolidated net profit to Rs 43.04 crore in the March quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 31.77 crore in the year-ago period, the company said in a BSE filing. The company's total revenue increased to Rs 292.96 crore during the quarter from Rs 184.41 crore a year ago. The consolidated net profit during the entire FY24 also increased to Rs 161.65 crore from Rs 109.62 crore a year ago. The board has also recommended final dividend at 2 per cent, i.e. Re 0.20 per equity share of the face value of Rs 10 each for the financial year 2023-24, subject to approval of the shareholders at the upcoming annual general meeting of the company.

Uttar Pradesh govt looks to utilise water bodies for floating solar farms

The latest move comes as UP is targeting 22,000 Mw of solar energy generation in 4-5 years

UltraTech to buy 26% stake in O2 Renewable for green energy needs

UltraTech Cement on Wednesday said it will acquire 26 per cent equity of O2 Renewable Energy, a company engaged in the generation and transmission of renewable energy. This will help the Aditya Birla Group firm meet green energy needs, optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws. The cement maker company has entered into an energy supply agreement and share subscription and shareholders agreement with O2 Renewable Energy. "The acquisition is for the purposes of meeting the company's green energy needs, optimising energy cost and complying with regulatory requirements related to captive power consumption under electricity laws," UltraTech said in a regulatory filing. On the equity investment, the company said it would be a cash consideration of up to Rs 15.68 crore and expects to complete it within 180 days from the signing of the agreement.

Tata Group will move to 70% green energy by 2030: Chairman Chandrasekaran

Tata Sons Chairman N Chandrasekaran on Saturday said the conglomerate will move to 70 per cent green energy by 2030. He was addressing the convocation of XLRI-Xavier School of Management in Jamshedpur where he was honoured with the Sir Jehangir Ghandy Medal for Social and Industrial Peace. "Nation-building impulse is as relevant now as it was earlier. There are major energy transitions, digital transitions in the form of AI and machine learning, and supply chain transitions that we are facing today. But, India is uniquely placed because we can invest in each of these transitions today because of the geopolitical advantages that our country has," he said. He said that by 2030, the Tata Group will move to 70 per cent green energy. Chandrasekaran said the priorities of the conglomerate are simplification, synergy, sustainability, supply chain transformation and digital transformation. "These are achieved via integrity, sound strategy, great execution, good governance and consistent .

Inox subsidiary bags Rs 40 cr order to restore wind turbine generators

Inox Green Energy Services on Tuesday said its subsidiary I-Fox Windtechnik India Pvt Ltd has bagged an order worth Rs 39.5 crore for restoration of 33 wind turbine generators (WTGs) of 1.5MW each from NLC India. The scope of the contract comprises supplies of materials/spares and other activities for the restoration of 33 WTGs within a period of eight months, with a revenue realisation of Rs 39.5 crore (inclusive of taxes) during the contract period, a company statement said. The order is for the restoration of 33 wind turbine generators (each 1.5 MW) of NLC India's wind power plant located at Tenkasi district in Tamil Nadu, the statement added. "We are delighted to receive another order from NLC India after securing the contract for comprehensive O&M of 51MW WTGs for 5 years during the last year," SK Mathu Sudhana, CEO of IGESL said in the statement. This is another important landmark in the growth journey of IGESL as well as of our subsidiary I-Fox Wind, and the company is ...

Maha CM Eknath Shinde inaugurates country's first LNG-powered bus

Chief Minister Eknath Shinde on Friday inaugurated India's first Liquefied Natural Gas (LNG) powered bus, which will be operated by Maharashtra State Road Transport Corporation, an official said. A release from the state-run transport corporation said 5000 of its diesel vehicles will be converted to LNG alternative fuel vehicles in phases, adding that 34 per cent of its total expenditure is for diesel for its fleet of 16,000 buses. "Due to conversion of buses from diesel to LNG, pollution will reduce by 10 per cent and fuel cost will go down significantly. MSRTC has signed an MoU with M/s Kings Gas for the conversion of buses to LNG. It includes usage and supply of fuel," the release said. MSRTC, which ferries around 60 lakh passengers everyday, will set up LNG distribution facilities at 90 depots across the state, the release added.

Surviving airbenders are trying to get wind energy back to its past glory

Between 2012 and 2016, tax benefits and incentive schemes for wind energy witnessed mercurial changes

SJVN Green signs long-term pact to supply 600 MW solar power to Rajasthan

A subsidiary of state-owned power producer SJVN, SJVN Green Energy, has entered into a long term pact to supply 600 MW solar electricity to Rajasthan. The Power Usage Agreement is for 500 MW Solar Power from Bikaner Solar Power Project and the Power Purchase Agreement (PPA) is for 100 MW Solar Power from Rajasthan Solar Power Project, both for a period of 25 years, a power ministry statement said. According to the statement SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, has signed a Long Term Power Usage Agreement (PUA) for 500 MW Solar Power and a Long Term Power Purchase Agreement (PPA) for 100 MW Solar Power, with Rajasthan Urja Vikas and IT Services Limited (RUVITL) in Jaipur on March 10, 2024. Under the Agreement, SGEL would supply 500 MW of power at a tariff of Rs. 2.57 per unit, from the 1,000 MW Bikaner Solar Power Project being developed by SGEL under Phase-II (Tranche-3) of the Central Public Sector Units Scheme. This project is the country's largest

Open access solar capacity addition at record 3.2 GW during 2023: Report

India added a record 3.2 gigawatt of open access solar capacity during 2023, posting a 6.66 per cent rise supported by factors, including reduced module cost, according to a report. In its latest report, US-based research firm Mercom Capital said the open access solar capacity addition was 3 gigawatt (GW) during 2022. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. It is the record high open access solar capacity addition in a calendar year. The cumulative installed solar capacity in the open access segment stood at 12.2 GW as of December 2023, the 'Mercom India Solar Open Access Market Report' said. Open access solar is one of the bright spots in the country's solar market, attracting commercial enterprises and industrial units to shift towards solar and other clean energy sources, Raj Prabhu, CEO of Mercom Capital Group, said. "The potential cost savings for businesses are hard to igno

PM to present first ever National Creators Award at Bharat Mandapam today

The award will be provided across twenty categories including the Best Storyteller Award; The Disruptor of the Year; Celebrity Creator of the Year; Green Champion Award, among others

SJVN receives 1,352 MW solar energy projects worth Rs 7,436 crore

State-owned power producer SJVN arm SJVN Green Energy has secured 1,352 MW solar power projects, entailing an investment of Rs 7,436 crore. "SJVN has received Letter of Awards (LoA) for 1,352 MW Solar Power Projects to be developed through SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN," a company statement said. According to the statement, these LoAs have been received in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis, SJVN Director (Finance) Akhileshwar Singh and SGEL CEO Ajay Singh in Mumbai. SJVN Chairman and Managing Director Geeta Kapur informed that these projects of 1,352 MW will be developed at various locations in Maharashtra -- Nashik, Solapur, Ahmednagar and Pune under Mukhya Mantri Saur Krushi Vahini Yojana 2.0. The projects have been bagged by SGEL through a competitive bidding process in a tender floated by MSEB Agro Power Limited, Maharashtra. The total capacity of the tender was 7,000 MW and SGEL participated for 1,500 MW -- 5

SJVN Green Energy bags 200 MW solar project in an e-reverse auction

This project is to be developed by SJVN Green Energy on a build-own-and-operate basis at the tentative development cost of Rs 1,100 crore, a company statement said

India should become green energy exporter by 2047 to attract capital: Kant

Addressing at the 'Raisina Dialogue 2024', Kant said today's challenge is climate change and the World Bank needs to become a climate bank

BluSmart, Tata Power subsidiary sign agreement to source green power

This partnership with TPTCL will help BluSmart to eliminate Scope 2 emissions from its existing 1.4 million square feet of EV charging infrastructure and future charging hubs

Govt asks industry players to invest in technology towards greener future

The government on Friday stressed on the importance of coal and lignite gasification projects in India's energy transition and urged industry players to invest in the technology towards a greener and cleaner future. Coal Secretary Amrit Lal Meena also stressed on the government's support to the industry through initiatives, including financing and incentives, for promotion of clean coal technologies, the coal ministry said in a statement. The secretary requested all the industry stakeholders to come forward and participate in the RFP process and share their valuable inputs, to make the process transparent and open, it added. Through strategic initiatives and policy frameworks, the Ministry of Coal aims to catalyze investments and technological advancements in coal/gasification projects, aligning with India's vision for a cleaner and energy-efficient future. Coal India Chairman PM Prasad elaborated on CIL's proactive initiatives and endeavours in the realm of gasification and ...

Govt is mulling listing of PSEs' green energy arms, says Dipam secretary

There is a lot of opportunity for subsidiary units of some of our important companies to come to the market, said Pandey

SBI seeks lower reserve requirement for green deposits, says chairman

"We have put across the asks. One, of course, is a reduction in CRR for green deposits and second, if at all as a policy it can be incorporated," Khara said