Page 11 - Green Energy

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

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