Page 15 - Green Energy

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

Epsilon to establish EV battery component factory in US, sets aside $650 mn

Mumbai-based Epsilon will generate more than 1,500 direct and indirect jobs at this new facility. The facility is expected to be commissioned by 2026

US, India to pursue energy transition goals, to set up investment platform

The US also welcomed India's decision to co-lead the multilateral Hydrogen Breakthrough Agenda

SJVN partners Mahagenco for 5,000 MW green energy projects in Maharashtra

SJVN on Wednesday signed an agreement with Mahagenco to develop renewable energy projects with a total capacity of 5,000 megawatts (MW) in Maharashtra. The MoU was signed by SJVN Director (Personnel) Geeta Kapur and Mahagenco CMD P Anablagan in the presence of Devendra Fadnavis -- Deputy Chief Minister and Power Minister of Maharashtra and State Principal Secretary Energy Abha Shukla, SJVN said in a statement. "Nand Lal Sharma, Chairman & Managing Director, SJVN informed that the company has signed a Memorandum of Understanding (MoU) with Maharashtra State Power Generation Company (Mahagenco) for the development of 5,000 MW Renewable Energy Projects in the state of Maharashtra," the company said. Under the pact, the companies will explore the feasibility of setting up various renewable projects in Maharashtra, including hydro, pumped storage projects, wind, solar, hybrid and green hydrogen projects, the CMD said. SJVN and Mahagenco will jointly participate in tenders floated by ...

Clean energy a $2 trillion opportunity for RIL: Bernstein report

RIL could potentially achieve around $10 billion of revenue from new energy business in 2030

Rs 64,000-crore renewable energy transmission projects on the anvil

The last largest tranche of power transmission projects offered to the private sector was in 2015 when eight projects totalling Rs 50,000 were tendered

What are green skills and which sectors are hiring for them right now?

As the industries shift towards more resource-conscious and eco-friendly goals, here is everything you need to know about green skills, job, and growing sectors

KPI Green Energy gets letter of intent for 40 MW hybrid project in Gujarat

KPI Green Energy on Wednesday said it has got a letter of intent (LoI) from a private player to develop a 40 megawatt hybrid green energy project in Gujarat. The capacity includes 21.50 MW wind and 18.5 MW solar, the company said in a regulatory filing. "KPI Green has received a new largest single LoI for executing Wind-Solar Hybrid Power Project of 40 MW capacity from Anupam Rasayan India, Surat under Captive Power Producer (CPP)' business segment of the company," it said. This LoI is a significant milestone for the company, showcasing its strong position in the renewable energy market.