Page 12 - Green Energy

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

Torrent Power to invest Rs 47,000 cr in renewable energy in Gujarat

Torrent Power has inked four initial pacts with the Gujarat government to invest Rs 47,350 crore in renewable energy, green hydrogen and electricity distribution. Torrent Power Ltd, the integrated power utility of the diversified Torrent Group, has signed four non-binding Memorandum of Understanding (MoUs) with the government of Gujarat under the 10th edition of Vibrant Gujarat Global Summit, according to a company statement issued late in the evening on Wednesday. The MoUs were signed between Torrent Power and Gujarat Energy Development Agency (GEDA) in Gandhinagar. Through the four MoUs, Torrent Power has proposed total investments of Rs 47,350 crores (approx USD 5.70 billion), it stated. The proposed investments are planned to be made in the areas of renewable energy, green hydrogen and power distribution and are expected to contribute significantly towards the development of the state and creation of large-scale employment opportunities. "Torrent Power intends to make a ...

KPI Green Energy, Emmvee ink deal for 300 MW of solar panels purchase

KPI Green Energy and Emmvee ink a major deal: Agreement reached for the purchase of 300 Megawatts of solar panels

Assam CM flags off 200 green buses from Guwahati to curb pollution

State Transport Minister Parimal Suklabaidya also attended the flag-off ceremony of 200 AC E-buses

HP govt restricts departments from buying diesel-petrol vehicles from Jan 1

Chief Minister Sukhvinder Singh Sukhu has directed government departments not to buy diesel and petrol vehicles from January 1, 2024, according to a statement. This will promote e-vehicles and help the state achieve the goal of 'Green and Clean Himachal', it said. In case a department wants to purchase a diesel or petrol vehicle it will have to seek the approval of the state cabinet, it said. "In an initiative to achieve the goal of 'Green and Clean Himachal', Chief Minister Thakur Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1st, 2024," the statement said. The chief minister said the number of government e-vehicles has reached 185 and that of private e-vehicles registered in the state at 2,733 thanks to the consistent efforts of the government. "Our government is promoting e-vehicles in Himachal in a big way. The Transport Department becomes the first department to replace its official vehicle fleet with e-vehicl

KPI Green Energy zooms 9% on plans to consider second bonus issue in 2023

Recently, the company also announced successful commissioning of two solar power projects totaling 17.35 MWp and 16.83 MWp for its respective clients.

NTPC plans to list green energy vertical in next 1-2 years: Gurdeep Singh

State-owned NTPC is looking towards listing its green energy vertical in the next 1-2 years, as it anticipates higher demand going forward, its chairman and managing director Gurdeep Singh said on Wednesday. He also said that the entity is expecting a 30-40 per cent rise in capex to cater to increased power demand in the country. "Maybe I think (an IPO) down the line in next one to two years... as we add capacity and there is a pipeline of growth," Singh said in response to a question on whether the company was looking for listing its green energy vertical. He was participating in a panel discussion "An Indian Tomorrow," at the 10th SBI Banking & Economics Conclave here. "We would definitely be looking forward. And that's our thinking process... I think down the line about a year or two, we will be going for listing'," he added. Singh said NTPC is making power demand stable as per the consumption, adding, "I can assure that as demand goes up again... we will make sure that the ...

Inox Wind, JSW Energy: Power stks soar over 100% in 2 months; time to sell?

Chart suggests that shares related to green and renewable energy may display mixed trend in early 2024, given the sharp rally seen in the last two months.

State-owned SJVN to develop 100 MW solar project worth Rs 550 crore

State-owned SJVN has bagged a 100 MW solar project worth Rs 550 crore under e-Reverse auction conducted by Gujarat Urja Vikas Nigam. This ground mounted solar project shall be developed by the SJVN through its wholly-owned subsidiary, SJVN Green Energy Ltd (SGEL), at a tentative cost of Rs 550 crore, a company statement said. According to the statement, SJVN successfully bagged the quoted capacity of 100 MW Solar Project at the rate of Rs 2.63/Unit on Build Own and Operate basis through a tariff-based competitive bidding process of GUVNL. The project is expected to be commissioned within 18 Months from the date of signing of the Power Purchase Agreement (PPA). The PPA shall be signed between SGEL & GUVNL for 25 years. The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units, it stated. Further, the commissioning of this solar project is ...

Best of BS Opinion: No alternative to green industrial strategy & more

Here is the best of Business Standard's opinion pieces for today

SBI to sign $165 million LoC with World Bank for rooftop solar projects

In September, SBI said that it plans to make home loans with rooftop solar installations mandatory for residential projects funded from the bank's long-term climate action funds

Sembcorp signs deal with Japanese firms to export green ammonia from India

The agreement will also expand Sembcorp's footprint in India where it already has a gross renewable portfolio of 3.7 giga-watts (GW), it added

Ather Energy could launch IPO by FY25 end, earlier than initially planned

Launch of a family scooter and expansion of dealership network to help it increase market share

Reliance Industries's green energy equipment business intrigues analysts

Company plans to invest Rs75,000 crore to build new energy ecosystem