Page 15 - Green Energy

G20 aims to triple green energy capacity; no mention of fossil phase-out

G20 countries on Saturday said they will aim to triple global renewable energy capacity by 2030 and expedite efforts to phase down coal power in line with national circumstances but did not commit to a phase-out of all polluting fossil fuels, including oil and gas. The language on coal aligns with what was agreed upon in the previous G20 Summit in Bali, Indonesia. The bloc, which represents 85 per cent of the world's GDP and contributes 80 per cent of emissions, however, said it will uphold their 2009 promise made in Pittsburgh to eliminate and rationalise inefficient fossil fuel subsidies. According to a key technical report on the first-ever Global Stocktake published on Friday, scaling up renewable energy and phasing out unabated fossil fuels are indispensable elements of just energy transitions to net-zero emissions. The G20 is home to 93 per cent of the world's operating coal capacity (1,926 GW) and 88 per cent of (305 GW) the pre-construction coal capacity, according to a rep

Fossil fuel use smudge G20 host India's green leadership ambitions

New Delhi frets over the risks that come with abandoning coal, a fuel regarded as cheap and readily available - at a time when energy security and cost concerns are paramount

India to offer $452 mn in incentives for battery storage: Anurag Thakur

India will offer $452 million in incentives to companies to set up battery storage projects, in a bid to boost the country's green energy capacity, a top minister said

India to become green fuel destination for shipping sector: R K Singh

Singh said that the Centre will come out with pilot projects for the storage of green hydrogen and green ammonia for round-the-clock renewable energy

No 'silver bullet' for green transition, needs govt support: Tata Steel CEO

There is "no silver bullet" for green transition in hard-to-abate sectors, including steel, Tata Steel global CEO & MD T V Narendran said on Saturday, noting it's a complex challenge and needs government support. The statement from the industry leader comes amid growing concerns across economies over emissions, and need to increase usage of green energy. Steel is the most commonly used metal in the world and one cannot do without steel. Even for the transition, steel will be needed whether to hold solar panels up, windmills, storage and pipelines, he said addressing a session at B20 Summit India 2023. "You need to find a solution and there is no silver bullet for that...India is alone going to add 100-150 million tonne steel capacity every decade...for the next few decades you will have these hard-to-abate sectors growing, cement production is twice the amount of steel production globally...you need to find solutions which are technical, which don't get solved by just finding ...

TCPL Green Energy plans to set up manufacturing facility in Jharkhand

TCPL Green Energy Solutions plans to set up a manufacturing facility in Jharkhand to produce hydrogen-based powertrains and battery electric vehicle aggregates and systems, the company said on Friday. Announcing the signing of an initial pact with the Jharkhand Government, the company said it will invest over Rs 350 crore over the next few years to produce fuel-agnostic powertrain solutions including hydrogen Internal Combustion engine (ICE), battery and fuel cell electric vehicle systems as well as fuel delivery systems. This investment will create an anchor enterprise to develop a robust supply ecosystem through value chain creation, the company said. TCPL GES is a wholly-owned subsidiary of Tata Cummins Pvt Ltd. TCPL is a 50:50 joint venture between Tata Motors and the global power technology major, Cummins Inc. The plant is expected to commence production in 2024 in a phased manner with the hydrogen ICE to be rolled out first followed by the battery electric components and fuel

IIT Bombay gets $18.6 mn from alumnus for green energy research hub

The Indian Institute of Technology (IIT) Bombay has received a donation of USD 18.6 million from an alumnus for establishment of a Green Energy and Sustainability Research Hub, the premier institute said on Thursday. The IIT B, however, did not disclose the identity of the alumnus, saying he wanted to remain anonymous. The contribution will redefine the institute's role in addressing the global climate crisis. The hub will be located within a state-of-the-art academic building on the IIT Bombay campus in suburban Powai and its focus will extends to critically important areas, said the institute in a statement. The focused areas include evaluating climate risks and developing effective mitigation strategies, climate change adaptation, and comprehensive environmental monitoring, it said. Additionally, the hub seeks to advance climate solutions, foster the adoption of renewable energy sources and energy-efficient technologies. It will facilitate research in several critical areas, ..

RecycleKaro to invest Rs 100 crore to set up Nickel plant in Maharashtra

Lithium-ion battery recycling firm RecycleKaro on Thursday said it plans to invest Rs 100 crore for setting up a nickel plant in Maharashtra with a capacity to produce 1,200 tonnes of the metal annually. Spread across 17 acres of land, the upcoming facility at Palghar district of the state will incorporate a plant capable of producing nickel from scrapped lithium-ion batteries and nickel hydroxide, RecycleKaro said in a statement. The plant will commence production by the end of 2023, it said. This venture is aimed at completing the value chain of a circular economy and meeting the surging demand for lithium-ion batteries in India's fast expanding electric vehicle market, the company said. "RecycleKaro announces its ambitious plans to establish a nickel metal plant, with a substantial investment of Rs 100 crore, in Maharashtra," the company said in a statement. The plant is expected to produce 1,200 tonnes of nickel annually, with 30 per cent of the production allocated for use in

SJVN inks two agreements to supply 1,200 MW solar power to Punjab

State-owned SJVN Ltd has inked two pacts with Punjab State Power Corporation Ltd (PSPCL) to supply 1,200 MW of solar power from its projects, Punjab Chief Minister Bhagwant Mann said here on Thursday. Satluj Jal Vidyut Nigam signed two power purchase agreements (PPAs) for 1,200 MW solar power recently. PSPCL had floated tenders for procurement of power from solar projects located in Punjab and other parts of the country. SJVN Green Energy Limited (SGEL), SJVN's arm, proposed the rate of Rs 2.53 per unit for the supply of 1,000 MW and Rs 2.75 per unit for another 200 MW. "Earlier bidding was of Rs 2.59 per unit but it was negotiated and brought at Rs 2.53," he said. For 200 MW the bid had proposed the rate of Rs 2.79 per unit but it was finally agreed at Rs 2.75 per unit, Mann said, adding that the state government will save Rs 431 crore through this negotiation. The rates have been fixed for 25 years and PSPCL will not pay any transmission charges and for transmission losses. La

Top headlines: India Inc profit surges 65%, world entering green energy era

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Juniper Green Energy signs MoU with Power Finance Corporation for Rs 5K cr

Juniper Green Energy has signed an MoU with state-owned Power Finance Corporation for Rs 5,000 crore to fund its renewable energy projects. The memorandum of understanding (MoU) is for funding projects of 1200 MW capacities. "The collaboration will support us in pursuing exciting opportunities as we play a critical role in meeting the exponential growth of sustainable energy for India," company's CFO Parag Agrawal said in a statement.

Green energy major Renew Energy to get Rs 64,000 cr loan from PFC, REC

Green energy major Renew Energy Global Friday signed loan agreements worth Rs 64,000 crore with Power Finance Corporation and Rural Electrification Corporation. Public sector energy funders will lend Rs 32,000 crore each to the Nasdaq-listed energy company. The loan agreements were signed at the clean energy ministerial meet, a part of the G20 meeting, in Goa. "We will receive Rs 32,000 crore (USD 3.9 billion) each from PFC and REC for financing its current and upcoming energy transition projects, totalling USD 7.8 billion or Rs 64,000 crore," the company said in a statement issued from Goa without sharing project details or a timeline for disbursals. The company will utilise the funds for new projects, including solar, wind, hybrid, energy storage, solar modules and cell manufacturing, and green hydrogen, the statement added. Kailash Vaswani, president, corporate finance at Renew, said the company already has a long-standing relationship with PFC and REC-- the biggest lenders to

AAI targets Rs 98,000 crore capital outlay to meet air traffic demands

Air operators are also moving towards adopting carbon mitigation measures. At the moment, 55 airports are already operating on 100% green energy

US, India welcome growing energy cooperation in SCEP ministerial meeting

The Ministry of Petroleum and Natural Gas said that the two sides also recognised the importance of producing green hydrogen as a critical energy source

G20 FMs deliberate on risks to global economy, steps to promote green tech

Finance ministers of G20 nations on Monday deliberated on global economy and risks, as well as policy measures for promoting green and low carbon technologies on the opening day of the ministerial conference. The meeting of the G20 finance ministers and central bank governors in the first session deliberated on issues pertaining to global economic outlook, economic risks, and key policy responses to support recovery, the Finance Ministry said in a tweet. International Monetary Fund (IMF) Managing Director Kristalina Georgieva last week in a blog said that the IMF forecast for global growth over the medium term is around 3 per cent -- well below the historical average of 3.8 per cent during 2000-19. She also flagged that economic fragmentation will both undermine growth and make it harder to tackle pressing global challenges, from rising sovereign debt crises to the existential threat of climate change. The G20 finance ministers meeting in the second session deliberated on sustainab

Serentica to source 1500 MW green energy a day from Greenko Group

Serentica Renewables (Serentica) on Monday said it has signed an agreement with Greenko Group for taking daily supply of 1,500 megawatt (MW) from energy storage facilities. The power will be sourced from Greenko Group's upcoming energy storage projects in Andhra Pradesh and Madhya Pradesh and supplied to industrial customers, Serentica said in a statement. "Serentica has signed a first-of-its-kind standalone energy storage capacity offtake contract with global energy storage developer, Greenko Group. As part of this contract, Serentica will leverage Greenko's unique energy storage capabilities to utilise a cumulative 1,500 MWhr capacity," it said. The agreement is for a period of 25 years. Pratik Agarwal, Director, Serentica Renewables, said, long duration energy storage is critical to decarbonizing the country's energy consumption and reducing greenhouse gas emissions. The unique energy storage capacity offtake contract with Greenko puts Serentica on an accelerated trajectory in

Serentica Renewables inks pacts to supply green energy to industries

Serentica Renewables on Monday said it has signed agreements with multiple industrial customers for delivery of over 1.25 GW green energy. This is in addition to the 580 MW PDAs that were signed in March 2023, the company said in a statement. "Serentica has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. To ensure the round-the-clock green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country," it said. The projects will deploy both wind and solar capacities to be supplemented with balancing solutions like energy storage. Serentica is setting up these solar and wind capacities across the states of Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS). The overall portfolio will supply more than 9 billion units of clean energy annually, thereby offsetting 8.5 million tonnes of CO2, the company ...

India's Bharat Petroleum to raise $2.19 billion in green energy push

State-owned oil marketing company Bharat Petroleum said it approved raising up to 180 billion rupees through an issue of equity shares on a rights basis

FAME subsidy cut, subsequent price hike take e-scooter sales down 61% MoM

The dip in sales has come after electric two-wheeler manufacturers hiked the prices of their products by 15-18 per cent

Riding on rising demand for CNG vehicles, Tata aims to double its sales

Currently, Tata offers its Tiago, Tigor, and Altroz with a CNG option. With its CNG vehicles, Tata is betting on the mass market that looks for affordable fuel options