Page 10 - Green Energy

India ranks 63rd on Global Energy Transition Index, Sweden on top: WEF

India has been ranked 63rd on a global Energy Transition Index released on Wednesday by the World Economic Forum, which said the country has shown significant improvement across energy equity, security and sustainability. European nations dominated the top ranks with Sweden topping the index, followed by Denmark, Finland, Switzerland and France in the top five. China was ranked 20th. The improvement shown by India and some other developing countries such as China and Brazil assumes significance as 83 per cent of countries have moved backwards from last year in at least one of the three energy system performance dimensions - security, equity and sustainability. Taking note of various initiatives taken in India, the World Economic Forum (WEF) said the country is leading the way in creating outcomes that can be replicated elsewhere. It said the governments can also consider creating awareness and policy interventions, such as guidelines for energy-efficient built infrastructure and .

Green agenda of Modi 3.0

With the elections wrapped up, there is now scope to dynamically balance multiple objectives in achieving net-zero by 2070

Amid call for reduced dependency, India's coal import rises 13% in April

India's coal import rose by 13.2 per cent to 26.10 million tonne (MT) in April 2024 as buyers took fresh positions amid early onset of summer. The country had imported 23.05 MT of coal in the year-ago period, according to data compiled by B2B e-commerce company mjunction services ltd. This comes amid coal and mines minister G Kishan Reddy stating that India should increase domestic production of the fossil fuel and reduce coal imports. "India's coal and coke imports in April 2024 through the major and non-major ports increased by 13.2 per cent over April 2023," the data showed. Of the total import in April, non-coking coal import stood at 17.40 MT against 15.15 MT in the year-ago month. Coking coal import was 4.97 MT against 4.77 MT. "There was an increase in volumes...Going ahead, there may be continued demand from both the power and non-regulated sectors due to pre-monsoon restocking," mjunction MD & CEO Vinaya Varma said. Coal imports in April were up by 8.93 per cent as ...

Pralhad Joshi: From mining coal to building green energy and food security

Joshi is considered a trusted ally by MPs across parties and this has helped him push for coal reforms in states and get support from various departments such as railways and shipping

Coal dependency, climate dilemma to hang over PM Modi in his third term

PM Modi will need to balance green ambitions against a need to sustain growth and satisfy rapidly accelerating electricity demand, leaning on a fraying power system still heavily dependent on coal

SECI invites bids for annum supply of 539,000 metric tonnes green ammonia

State-owned Solar Energy Corporation of India has invited bids for the selection of ammonia producers for the annual supply of 5.39 lakh metric tonnes (MT) of green ammonia. The bids are invited under SIGHT Programme of the National Green Hydrogen Mission (NGHM). According to the statement, Solar Energy Corporation of India (SECI) has issued a Request for Selection (RfS) of green ammonia producers for the production of green ammonia in India through cost-based competitive bidding under Mode 2A of SIGHT programme of the NGHM being implemented by the Ministry of New & Renewable Energy (MNRE). The bidding for a total available capacity of 5.39 lakh Metric Tonnes (MT)/annum of Green Ammonia intended for production and supply will be carried out through e-bidding followed by e-Reverse Auction process. Green Ammonia produced will be supplied to the fertilizer companies, it stated. The MNRE had earlier issued the Scheme Guidelines for implementation of SIGHT Programme Component II: ...

India unveils $500 bn investment opportunities in clean energy by 2030

India offers huge investment opportunities worth over USD 500 billion, particularly in clean energy value chain including renewables, green hydrogen and EV, by 2030, the commerce ministry said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum. The meeting, which started on Wednesday, brought together the region's top investors, clean economy companies, and start-ups to mobilise investments into sustainable infrastructure, climate technology, and renewable energy projects. The 14-member IPEF bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade. The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the

Surge of free power raise red flags for green technology investors

For more than a million consumers, that meant getting free electricity to heat their homes or charge their vehicles

Renewable energy firm SAEL plans dollar bond sale targeting up to $500 mn

The offering also comes amid India's push to ramp up the renewable energy sector

Tata Power to sell green energy to group companies, MNCs: Praveer Sinha

Says they will offer carbon credit on their green power sale to companies that require it

US plans to impose new tariffs on EVs, other Chinese green energy imports

The Biden administration plans to impose major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China, according to a U.S. official and another person familiar with the plan. Tariffs on electric vehicles, in particular, could quadruple from the existing 25% to 100%. The plan was described by the people on condition of anonymity because they were not authorized to provide details ahead of a formal announcement. The tariffs, expected to be announced Tuesday, come as officials across the Democratic administration have expressed frustration over China's manufacturing overcapacity of EVs and other products that they say pose a threat to U.S. jobs and national security. Industrialized nations including the United States and its European allies fear a wave of low-priced Chinese exports will overwhelm domestic manufacturing. On the U.S. side, there is particular concern that China's green energy products will undermine massive ...

Gujarat Toolroom Q4 results: Net profit jumps multifold to Rs 50 cr

Gujarat Toolroom Ltd (GTL) on Tuesday reported a multi-fold jump in consolidated net profit to Rs 50.29 crore for the March 2024 quarter, mainly due to higher income. Its net profit was Rs 73 lakh in the quarter ended March 2023, the company said in a regulatory filing. Total income surged to Rs 377.35 crore from Rs 1.64 crore in the year-ago period. Total expenses also rose to Rs 326.72 crore as against Rs 61 lakh a year ago. Ahmedabad-based Gujarat Toolroom is into manufacturing and assembling industrial machines and equipment. Last week, the company announced plans to foray into the green energy sector by acquiring 65 acres of land in Gujarat to set up a green energy project at an investment of Rs 572 crore.

This SME stock has surged 100% in 1 month; zoomed 330% against IPO price

Shares of KP Green Energy (KPGE) locked in upper circuit for the fourth straight day, up 5 per cent at Rs 619.85 on the BSE on Tuesday at 12:50 pm; in otherwise a weak market.

Aluminium industry needs additional capex to reach net-zero emission: Study

The aluminium sector in India would need an additional capital expenditure (capex) of about Rs 2.2 lakh crore to attain net-zero carbon emissions, an independent study on Tuesday said. The study released by the Council on Energy, Environment and Water (CEEW) said that green energy can abate 49 per cent of the total emissions from the industry. A complete transition to renewable is not feasible at the moment as it is intermittent in nature, and backup will always be necessary in case of grid failure, it said. Net-zero aluminium could be 61 per cent more expensive, the study said, adding that decarbonising this industry would also lead to a yearly increase of Rs 26,049 crore in additional operating expenditure, as per the study. Although the country's per capita aluminium consumption is low at 2.5 kg (compared to the world average of 11 kg), the industry emitted nearly 77 million tonnes of CO2 in 2019-20, it said. Electricity consumption by plants accounted for 80 per cent of the to

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.