Page 13 - Green Energy

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

Centre gets bids for green hydrogen, electrolyser production incentives

In July, India invited pilot bids under its $2 billion programme to incentivise production of green hydrogen and manufacturing of electrolysers

Fossil fuel-based energy also essential for India: President Murmu

President Droupadi Murmu on Thursday said the dependence on fossil fuels is definitely decreasing, but fossil fuel-based energy is also essential for India. India has always worked as a responsible country in the field of clean energy, Murmu said, addressing the National Energy Conservation Awards 2023 function here. "But we have also been making it clear from time to time that the dependence on fossil fuel is definitely decreasing but fossil fuel-based energy is also essential in our country," she stated. India is promoting clean coal technologies so that the processes of coal extraction and use become more efficient and environment friendly, she noted. It is the result of our commitment towards the environment that India has moved from 30th to 7th place in the ranking of the Climate Change Performance Index in a period of ten years, she said. The President opined that the health and happiness of all of us lie in the conservation and good health of nature. "If we make optimal ..

Average power purchase cost increases by 71 paise per unit during FY22-23

Average power purchase cost increased by 71 paise per unit during FY22-23 due to a rise in various overheads like transmission and distribution rates, Parliament was informed on Thursday. On the rise in power cost due to increased use of imported coal, Union Power Minister RK Singh, in a written reply to the Lok Sabha, said, "Average power purchase cost increased by 71 paise only between FY22 and FY23. This is because of increase in various costs including an increase in transmission and distribution costs". The minister explained that with the rise in electricity demand from July 2021 onwards, the consumption of coal in thermal power plants increased. The supply of domestic coal on a daily basis was less than consumption, which resulted in the depletion of coal stock and stocks at plants came down from 28.7 million tonnes (MT) as of June 30, 2021, to about 8.1 million tonnes (MT) as of September 30, 2021, he added. Therefore, in December 2021, the Ministry of Power advised state

Ontario Teachers' to acquire 30% stake in Mahindra Susten for Rs 2,371 cr

The companies will also establish an Infrastructure Investment Trust (InvIT) comprising renewable power assets of Mahindra Susten with an operation capacity of 1.54 GWp

Adani Green Energy announces incorporation of step-down subsidiaries

Earlier this month. Adani Green also announced that it has sealed its largest project financing of a $1.36 billion senior debt facility

Adani Group to invest $100 billion in the next decade for energy transition

The company said Adani portfolio businesses have an active strategy to decarbonise, pledge to plant 100 million trees by 2030, and undertake innovative pilot projects

Rs 11 lakh spent under Green Hydrogen Mission so far in FY24: Govt

The government has incurred an expenditure of Rs 11 lakh under the National Green Hydrogen Mission to date against the revised estimates of Rs 100 crore for 2023-24, Parliament was informed on Tuesday. The Ministry of New & Renewable is implementing the National Green Hydrogen Mission, approved by the Union Cabinet on January 4, 2023, with an outlay of Rs 19,744 crore from 2023-24 to 2029-30, Union Power and New & Renewable Energy Minister R K Singh said in a written reply to the Rajya Sabha. The overarching objective of the Mission is to make India a Global Hub for the production, usage and export of Green Hydrogen and its derivatives. Revised estimates for the Mission for 2022-23 were Rs 1,00,000 and there was no expenditure in 2022-23, he stated. Revised estimates for the Mission for FY 2023-24 are Rs 100 crore and expenditure is Rs 11 lakh to date, the minister told the House. The expected outcomes of the Mission, by 2030, are that India's Green Hydrogen production ...

Sugar companies, govt eye truce on ethanol ban from sugarcane juice

No rollback of December 7 order; firms call for one-time waiver

Refined copper demand likely to grow 11% in FY24 on infra boost: ICRA

India's refined copper demand is likely to grow 11 per cent in the current financial year on the back of the government's thrust on infrastructure development and a gradual transition to green energy, ICRA said on Monday. The rating agency further said it expects a stable outlook for the country's domestic sector. "ICRA projects copper prices to remain range-bound at current levels of 8,2008,300/tonne in the near term," it said in a statement. It further said that the allocation of Rs 10 lakh crore for capital spending in the last Union Budget, coupled with ambitious targets set under the National Infrastructure Pipeline (NIP), is likely to drive copper consumption in the medium term. In addition, in the real estate sector, significant incremental supply growth of 30 per cent in the top six Indian office space markets and 10 per cent growth in retail mall space is likely in FY'24, which is likely to spur copper wire demand. Significant emphasis by the government on the smart city

Submit bids for green hydrogen, electrolyser mfg projects by Dec 12: Govt

The last date to submit bids for green hydrogen and electrolyser manufacturing projects under the government's SIGHT Scheme ends on December 12, Parliament was informed on Thursday. In January 2023, the Union Cabinet approved the National Green Hydrogen Mission (NGHM) with an outlay of Rs 19,744 crore with an aim to make India a global hub for manufacturing this clean source of energy. The mission is expected to lead to development of 5 Million Metric Tons per annum of green hydrogen production capacity by 2030, New and Renewable Energy Minister R K Singh said in Lok Sabha. "Request for selection (RfS) has also been issued for selection of green hydrogen producers for setting up production facilities of 4,50,000 tonnes for green hydrogen in India under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme (Mode-1-Tranche-I) on July 10, 2023. Last date for submission of bids is December 12, 2023," he said. Singh further said that December 12, is also the last date

Draft text at COP28 shows negotiators considering fossil fuel 'phase out'

The first option in the draft text was listed as "an orderly and just phase out of fossil fuels". The second called for "accelerating efforts towards phasing out unabated fossil fuels

India joins Battery Energy Storage Systems Consortium for RE integration

As part of this collaborative effort, India stands among the pioneering nations committed to securing 5 gigawatts (GW) of BESS commitments by the conclusion of 2024

RIL, Adani, JSW group, L&T enter race for green H2 and electrolyser

Most of the companies participating in the SECI tenders have already chalked out plans for the green hydrogen business and would use this tender as an initial plank