Page 11 - Green Energy

Green capital flows into emerging mkts must be bolstered: RBI governor

Vigilant in navigating final stretch of disinflation: Das

KPI Green Energy Q3 results: Net profit up 47% at Rs 50 cr, revenue doubles

KPI Green Energy Ltd on Wednesday posted a 47 per cent rise in consolidated net profit to Rs 50.60 crore in the December quarter, supported by higher income. It had clocked a net profit of Rs 34.45 crore in the year-ago period, the company said in an exchange filing. The company's total revenue surged to Rs 331.32 crore over Rs 179.66 crore a year ago. Its expenses stood at Rs 259.55 crore in the third quarter of the ongoing fiscal, as against Rs 137.11 crore a year ago. KPI Green Energy Ltd (Formerly known as KPI Global Infrastructure Ltd), is the solar and hybrid vertical of KP Group. The Gujarat-based company develops, builds, owns, operates and maintains solar and hybrid power plants through as an Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP).

CIAL, BPCL sign pact to set up first green hydrogen plant at Cochin airport

In a strategic move to bolster its pathbreaking green energy initiatives, Cochin International Airport Ltd (CIAL) has entered into a Memorandum of Understanding (MoU) with the Bharat Petroleum Corporation Ltd (BPCL) for setting up a green hydrogen plant in the premises of Cochin Airport. This collaborative effort will result in the world's first green hydrogen plant and fueling station located within an airport setting, CIAL said in a statement on Wednesday. Green hydrogen, produced from water using renewable energy sources, is recognized as a future fuel and aligns with zero-carbon energy strategies, it said. The agreement exchange ceremony for the green hydrogen plant was held at Legislative Complex, Thiruvananthapuram in the presence of Kerala Chief Minister Pinarayi Vijayan who is also the chairman of CIAL, the statement said. "As pioneers in sustainable aviation, CIAL is happy to start a groundbreaking journey with BPCL towards establishing the country's first green hydrogen .

Govt devising policies to boost green hydrogen for round-the-clock RE

India is the third largest consumer of energy, oil and LPG. India's demand for energy is expected to double by 2045

NTPC plans to take green energy arm public in FY24-25, says official

The state utility also plans to add 4 to 5 gigawatts (GW) of renewable power and 3 GW of coal-fired power capacity during the same period, said the executive

US, India share strong focus on energy transition, says US official

United States Assistant Secretary of State for Energy Resources Geoffrey R Pyatt on Monday said the US and India have very strong focus on energy transition and there is a lot synergy between them to ensure alternative supply chain, especially for renewables. During a virtual press briefing on Monday, Pyatt shared his views about energy priorities, and on opportunities and challenges around critical minerals for the global energy transition. Pyatt, who visited India in January, spoke about energy transition, reliable supply chains, energy security, and advancing commercial cooperation with private sector partners in India's rapidly growing clean energy sector. He said India is one of the US's most important energy relationships in the world. He said he met Microsoft and renewable energy firm Greenko Group during his visit to Hyderabad last month, saying the progress in infrastructure was jaw-dropping. He said that he was of the view that US-India relations for the energy sector is

Net-zero goal: Interim budget focuses on green economy, climate investments

In an effort to achieve net-zero carbon emissions, India will solarise rooftops of one crore households and provide viability gap funding for harnessing offshore wind energy potential with an initial capacity of one gigawatt, Finance Minister Nirmala Sitharaman said on Thursday. Presenting the interim budget for 2024-25, she also said that the government will mandate the phased blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and natural gas (PNG) for domestic purposes. The finance minister emphasised that the government would enable one crore households to obtain up to 300 units of free electricity every month through the rooftop solar programme. This will result in savings of up to Rs 18,000 annually for households from free solar electricity and selling the surplus to distribution companies, Sitharaman said. According to an analysis by the Council on Energy, Environment, and Water (CEEW), 20-25 gigawatts of rooftop solar capacity could be support

NTPC Green Energy gets Dipam nod to get listed for raising Rs 10,000 crore

State-owned power giant NTPC has received approval from the Department of Investment and Public Asset Management to list its green energy arm NTPC Green Energy Ltd (NGEL) to raise up to Rs 10,000 crore, according to a source. NGEL is expected to go public to raise up to Rs 10,000 crore anytime after March, the source told PTI. The NTPC's proposal for NGEL listing was approved by the Department of Investment and Public Asset Management (DIPAM), as per the source. The company is planning to utilise the funds towards energy transition and setting up green energy projects, including solar and green hydrogen. In December 2023, NTPC CMD Gurdeep Singh told PTI that his company is looking towards listing its green energy vertical in the next 1-2 years, as it anticipates higher demand for power going forward. The company has a target to add 60GW of renewable energy capacity by 2030, which it expects to achieve even earlier. NGEL is a wholly-owned subsidiary of NTPC with an operational cap

Stock of this smallcap power generation company has zoomed 123% in 3 months

Shares of KPI Green Energy were locked in the 10-per cent upper circuit at Rs 1,823.80, hitting a new high on the BSE in Wednesday's intraday trade

Coal India, WCL to set up green energy projects in Chhindwara: Coal secy

Coal India and its subsidiary Western Coalfields have identified four to five closed mines in the Chhindwara Pench area for setting up green projects for optimum utilisation of assets, Union Coal Secretary Amrit Lal Meena said on Sunday. Meena at the Western Coal Fields headquarters here told reporters that Coal India will install integrated solar and pump storage projects in de-coaled land from where coal has been extracted fully. The move is aimed at the optimum utilisation of WCL assets and 4-5 old mines have been identified in the Chhindwara Pench area wherein integrated solar and hydropower plants would be set up to contribute to green energy production, the secretary said. He informed that he along with the WCL chairman and managing director and other officials visited and inspected the old coal mines where mining work has finished. " WCL will survey more such de-coaled assets in the region and after assessment by experts, WCL will try to make optimum use of those assets of W

A progressive green growth narrative

For the green initiative to get off the ground, voters first need to be convinced that such investments are socially beneficial

EV leasing firm Alt Mobility raises $6 million to scale up operations

Electric vehicle leasing and lifecycle management platform Alt Mobility on Thursday said it has raised USD 6 million (nearly Rs 50 crore) in a funding round co-led by Shell Ventures, Eurazeo, EV2 Ventures and Twynam. UC Inclusive, Piper Serica, Pitchright and LetsVenture also participated in the round, which is a mix of equity and venture debt, the company said in a statement. The capital will be used for hiring engineering team to scale its Electric Vehicle (EV) asset management platform FleetOS, it added. It will also be used for setting up new verticals for fleets including drive-to-own model, parametric insurance, fleet depots and battery refurbishment unit, the company said. Besides, Alt Mobility said it plans to expand its presence in over 20 cities aiming to achieve an (Assets Under Management) AUM of USD 100mn in the next two years.

Green hydrogen to play key role in India's net zero journey: Gautam Adani

Billionaire Gautam Adani on Tuesday said green hydrogen holds the key to India's journey to net-zero carbon emissions, and its current high cost can be reduced by replicating the solar power model. In a blog post for the World Economic Forum (WEF), the head of apples-to-airport Adani Group said leapfrogging to renewables and green hydrogen will help India achieve energy security and improve air quality in cities. Green hydrogen produced by splitting water using renewable electricity is a clean fuel with no carbon emissions. It can be used as a feedstock in industries like steel and oil refineries and as fuel in automobiles and produces water on being burnt. "Renewable energy has come a long way but relies on the right weather conditions; green hydrogen could be a viable alternative to fossil fuels," Adani said. Green hydrogen relies on renewable energy. And so the production cost of renewable energy must fall faster than green hydrogen's to be viable. Vertical integration, where a

Mahindra Group-backed infra investment trust trading debut on Monday

SEIT raised 13.65 billion rupees in the offer, while Mahindra Susten, the green energy arm of the tractors-to-financing conglomerate Mahindra Group, raised 8.98 billion rupees, according to statement

Avaada Group to invest Rs 40,000 cr in 6 GW renewable projects in Gujarat

Avaada Group on Monday said it has committed investments worth Rs 40,000 crore for development of 6,000 MW hybrid wind-solar projects in Gujarat. The agreement was signed in the presence of Gujarat Chief Minister Bhupendrabhai Patel on the sidelines of the Vibrant Gujarat Global Summit 2024 on January 10-12 at Gandhinagar, a company statement said. According to the statement, Avaada Group has signed a Memorandum of Understanding (MoU) with the Gujarat government. This strategic alliance aims to set up hybrid wind-solar projects with an aggregate 6,000 MW (6 GW) capacity in the state with an investment of about Rs 40,000 crore. The group's commitment to green initiatives in Gujarat is underscored by substantial investments in the development of a robust renewable energy ecosystem. The hybrid projects, located in various districts of Gujarat, predominantly in the underdeveloped wastelands of Kutch, will supply power to various utilities of India including GUVNL (Gujarat Urja Vikas N

NTPC Green Energy signs 2 pacts for green hydrogen projects in Gujarat

NTPC Green Energy Ltd (NGEL) on Friday announced the signing of two initial pacts for the development of green hydrogen projects in Gujarat. The NTPC's arm signed the Memoranda of Understandings (MoUs) with Gujarat State Petroleum Corporation Ltd (GSPC) and Gujarat Pipavav Port Ltd (GPPL) These pacts were signed at the Vibrant Gujarat Summit in Gandhinagar. In a statement, NTPC said the pact with GSPC is for the blending of green hydrogen in the gas networks of GSPC and green hydrogen mobility by setting up of green hydrogen fuelling stations in Gujarat. The MoU with GPPL aims to develop green hydrogen ecosystem, including production of Green Ammonia at the land provided by GPPL for export and domestic market, according to the statement. NGEL is a wholly-owned subsidiary of NTPC with an operational capacity of over 3.4 GW and 26 GW in pipeline, including 7 GW under implementation.

Green hydrogen can enable energy transition in net-zero journey: WEF report

Green hydrogen in India can not only provide energy for sectors such as fertilizers, chemicals, refining and iron, but also save carbon emissions compared to fossil fuels, the World Economic Forum said on Wednesday. In a detailed analysis of what it will take to make green hydrogen a credible energy pathway in India, the report said, "Green hydrogen can enable energy transition as India takes its net-zero journey towards 2070 while supporting its growing energy needs." Hydrogen produced through the electrolysis of water and powered by renewable energy, which is known as green hydrogen, is considered a clean, flexible and versatile energy carrier that can also help address the tension between energy supply and climate change, the report said. India is currently the third-largest economy in the world in terms of energy needs, and the country's demand for energy is set to surge. The demand is estimated to grow 35 per cent by 2030. In 2022, India's energy import bill was pegged at USD

Adani Group to invest Rs 2 trn in Gujarat in next 5 years: Gautam Adani

Billionaire Gautam Adani on Wednesday announced an investment of over Rs 2 lakh crore in Gujarat, largely in building a green energy park that would be visible even from space. Speaking at the Vibrant Gujarat Global Summit here, he said the investment will create 1 lakh jobs. Of the Rs 55,000 crore committed at the last summit, Adani Group has already spent Rs 50,000 crore, he said. The apples-to-airport group is now building a green energy park in Kutch having a 30 GW capacity spread over 25 square kilometre which would also be visible from space, he added. Since 2014, India has achieved a 185 per cent growth in GDP and 165 per cent growth in per capita income which is unparalleled given the geopolitical and pandemic-related challenges, Adani said.

Indian Railways logs 6,577 route kms electrification in calendar year 2023

The electrification push by the government comes as the Indian Railways has set a target to become the world's largest green railway by 2030

SJVN Green Energy to supply 200 MW solar power to Uttarakhand Power Corp

SJVN Green Energy Ltd has signed a pact with Uttarakhand Power Corporation Ltd (UPCL) to supply 200 MW solar power from a 1,000 MW Bikaner project in Rajasthan. State-owned SJVN, through its wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) has signed a Power Usage Agreement (PUA) with UPCL. The solar project is being developed by SJVN through SGEL in Rajasthan under CPSU (Central Public Sector Undertaking) scheme of IREDA (Indian Renewable Energy Development Agency), a statement said on Friday. The development cost of the project, which is under construction, is Rs 5,491 crore. It is being developed under the domestic content requirement mode and is scheduled to be commissioned by April 2024. The power generated from the project will be used by government entities, either directly or through discoms. President Droupadi Murmu laid the foundation stone for the Bikaner solar power project in January 2023. The project is expected to generate 2,455 million units in the first year