Page 7 - Green Energy

India needs greater support to achieve 2030 clean energy goals: Report

GH2 will not be cost-competitive with natural gas-based grey hydrogen until after 2050, as per the report. Current subsidies cover only 5 per cent of the cost gap and will run out before 2030

Jindal Saw to acquire 31.2% stake in ReNew Green Energy for undisclosed sum

Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy. However, the company did not divulge the financial details of this equity acquisition. In a filing, Jindal Saw said, "It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company". The acquisition is with an objective to procure electricity at a concessional rate, the company said. Jindal Saw further said it aims to complete the acquisition by May 31, 2025, or any other date as may be mutually decided between the parties. It is a manufacturer and supplier of steel pipe products, fittings and accessories with manufacturing facilities in India, the US, Europe and the UAE.

Energy symbiosis, not transition: A revealing take on climate challenges

Jean Baptiste-Fressoz's book exposes how governments and corporations embrace green rhetoric while reinforcing the carbon economy

SECI changes bidding policy after bribery allegations on Adani Group

About 75 per cent of SECI's new bids for renewable power will now be based on specific demand from states instead of the earlier practice of mainly seeking power suppliers first through tenders

Hybrid tenders: A catalyst for achieving India's clean energy goals

Hybrid tenders, combining traditional and renewable energy sources, are crucial for shaping a country's energy future

ReNew Energy plans buyback to delist from Nasdaq at 11.5% premium

The company's shares have consistently traded well below a peak of about $12 in February 2021. A buyback of cheap shares could represent an opportunity as the Indian market is set to grow

Govt announces ALMM for PV cells to push India's green energy transition

The government on Tuesday announced an Approved List of Models and Manufacturers (ALMM) for solar cells on the lines of module manufacturing to boost India's transition towards green energy. The government is aiming to make the second list (List II) under the ALMM for solar PV cells effective June 1, 2026, the Ministry of New and Renewable Energy (MNRE) said in a statement. From June 2026, all solar PV modules used in projects including government-backed schemes, net-metering projects, and open-access renewable energy initiatives will be required to source their solar cells from ALMM List-II, ensuring quality and reliability in solar PV cells used in India's energy infrastructure, the MNRE said in a statement. "MNRE announces a significant amendment to the ALMM Order, 2019, which will have far-reaching implications for India's solar power sector and its clean energy transition," the statement said. An exemption will apply for projects that have already been either awarded or ...

3,000 MW electrolyser manufacturing capacity coming up in India, says govt

India is in the process of providing viability gap funding for electrolyser manufacturing capacity of about 3,000 MW per annum to boost green hydrogen production in the country, Parliament was informed on Tuesday. This assumes significance as India had launched the National Green Hydrogen Mission with an initial outlay of Rs 19,744 crore in January 2023. The Mission aims to develop green hydrogen production capacity of at least 5 MMT (Million Metric Tonne) per annum with an associated renewable energy capacity addition of about 125 GW in the country. "For Electrolyser Manufacturing, contracts have been awarded/are under process for a capacity of 3,000 MW per annum," Minister of State for New & Renewable Energy Shripad Yesso Naik said in a written reply to Rajya Sabha. He further said for Green hydrogen production, capacity has been awarded for 4,12,000 tons per annum. The Mission also aims to attract over Rs 8 lakh crore in total investments and creation of over six lakh jobs with

PURE EV to expand dealership network, launch new products by 2027

Electric two-wheeler manufacturer PURE EV announced plans on Wednesday to expand its dealership network to over 320 outlets across India by mid-2027. The company plans to launch PuREPower in 2025, leveraging its vehicle battery and powertrain platform. Over the next 30 months, we aim to add 250 new dealerships, expanding our network to over 320 across India. This growth will be fueled by increasing demand for long-range scooters, electric motorcycles, large B2B contracts, and our entry into the household brand segment, PURE EV Founder and MD Nishanth Dongari said. The company currently operates with 70 dealerships. PURE EV is the first to integrate Nano PCM (Phase Change Material) into its battery systems for efficient thermal management, Dongari said. This innovation eliminates the risk of unsafe thermal incidents, enhancing safety in electric vehicles and boosting consumer confidence, he added. PURE EV has focused extensively on electric motorcycles, already launching two models

Better execution needed to justify valuation for NTPC Green Energy

If we project forward to FY28, NGEL's current portfolio of ongoing projects with 17GW will contribute fully to earnings, with around 55 per cent annual growth in operating profit over FY2024-28

TKIL Industries makes green foray with investment in Swiss company

Aims for giga-scale capacity in five years, with Rs 1,500-2,000 crore investment

Green energy stocks fail to benefit from selloff in Adani Green Energy

The stocks command a market capitalisation between Rs 5 560 crore and Rs 89,058 crore

NTPC Green Energy's Rs 10,000 cr IPO gets fully subscribed on final day

The initial public offering of NTPC Green Energy Ltd, the renewable energy arm of NTPC, got fully subscribed on the third day of the share sale on Friday. The Rs 10,000-crore share sale received bids for 60,68,16,774 shares, as against 59,31,67,575 shares on offer, translating into 1.02 times subscription, as per NSE data till 11:27 hours. The portion for Retail Individual Investors (RIIs) got subscribed 2.70 times. The quota for Qualified Institutional Buyers (QIBs) fetched 75 per cent subscription, while the non-institutional investors part got subscribed 42 per cent. NTPC Green Energy has mobilised Rs 3,960 crore from anchor investors. The initial share sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component. The issue has a price band of Rs 102-108 per share. Proceeds from the IPO to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans and a portion will b

Rajasthan govt to soon come out with Clean Energy Policy 2024: CM Sharma

Rajasthan Chief Minister Bhajanlal Sharma on Wednesday said the state government will soon come out with the Clean Energy Policy 2024, which will focus on non-renewable sources. "The policy will provide a series of new incentives in the energy sector including for newer segments of renewable energy such as pump storage, green hydrogen, battery storage, bioenergy among others," he said addressing a pre-summit of the Rising Rajasthan global investment meet. Sharma said that the goal would be to make Rajasthan self-reliant in the field of energy and meet the power demand of other states. In the pre-summit, MoUs for investment worth Rs 6.57 lakh crore were exchanged with investors from the energy sector. The MoUs signed on Wednesday have proposed to set up projects across various segments of the renewable energy and power generation sector, including solar, wind, green hydrogen, hybrid, pump storage, battery storage and green ammonia projects. Sharma said that the on-ground implementa

Explained: Why crude oil companies are walking back from green energy

Investors are rewarding oil giants that did not embrace wind and solar

Saatvik Green Energy files draft papers with Sebi for Rs 1,150 cr IPO

Solar panel maker Saatvik Green Energy has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,150 crore through an initial public offering (IPO). The Haryana-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 850 crore and an offer for sale (OFS) of Rs 300 crore by promoters -- Parmod Kumar and Sunila Garg, according to the draft red herring prospectus (DRHP) filed on Monday. At present, promoters hold over 90 per cent stake in the company. Proceeds from the fresh issue to the tune of Rs 553 crore will be used for setting up a 4 GW solar PV module manufacturing facility in Odisha, Rs 96 crore for investment in its subsidiary Saatvik Solar Industries in the form of debt or equity for payment of borrowings, Rs 12.3 crore will be used to pay the company's debt and a portion will be used for general corporate purposes. As of June 2024, the company's total borrowing stood at Rs 256 crore. Saatvik Green Energy is a solar photovolta

Reliance Power clears debt of Rosa Power focusing on green energy growth

Rosa Power operates a 1,200 megawatt (MW) coal-based thermal plant in Uttar Pradesh and had earlier, in September, cleared Rs 833 crore of its debt

Taiwan and Britain hold fresh trade talks on green energy, investment

In November last year, Taiwan and Britain signed an Enhanced Trade Partnership Arrangement that Taipei hopes will further boost its case to join a major pan-Pacific free trade pact and bolster

Govt to push green energy plans, will list ALMM for solar PV cells by 2026

The government is planning to introduce an Approved List of Models and Manufacturers (ALMM) for solar cells on the lines of module manufacturing to boost India's transition towards green energy. The government is aiming to make the second list (List II) under the ALMM for solar PV cells effective April 1, 2026. The government introduced the ALMM order (List I) in 2019 for solar modules to boost the manufacturing and usage of made-in-India solar panels. It was made mandatory to source PV modules from models and manufacturers included in the ALMM List I. According to an office memorandum of the Ministry of New and Renewable Energy, the ALMM order dated January 2, 2019, specified models and manufacturers of solar PV modules, whereas List-II will identify and include models and manufacturers of solar PV cells. However, to date, List II of solar PV cells has not been issued because the installed capacity of solar PV cells in the country was lower than the demand, the government document

India, Asean can work on policy framework for green energy transition: CERC

India and ASEAN can work together to create a regional policy framework for green energy transition with increasing usage of small modular nuclear reactors, a senior official of Indian power sector regulator CERC has said. According to Harish Dudani, Member, Central Electricity Regulatory Commission (CERC), the ASEAN (Association of Southeast Asian Nations) region provides a lot of opportunities for mutual cooperation to make low-carbon energy transition less disruptive. "ASEAN countries, including India, are showing increasing interest in Small Modular Nuclear Reactors (SMRs) as part of their broader strategy to diversify energy sources and meet growing energy demand while reducing carbon emissions," Dudani said at the ongoing Singapore International Energy Week. SMRs can be deployed in smaller, more localised grids, particularly in remote or rural areas where traditional large nuclear reactors are not feasible. This could be a significant advantage for the ASEAN region, where ...