Page 8 - Green Energy

Greenzo Energy gets hydrogen project; order book stands at Rs 1,200 cr

Greenzo Energy on Monday said it has secured a multi-crore hydrogen project taking the worth of its total order book to Rs 1,200 crore. The latest contract has been awarded by the state-owned Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), Greenzo Energy said in a statement. "With the TANGEDCO green hydrogen project, the order book now stands at Rs 1,200 crore," the company said. This project will be implemented at the 2x660 MW Ennore SEZ Supercritical Thermal Power Plant, owned by TANGEDCO, Greenzo Energy said. The company did not disclose the value of the order on account of contract agreements. "Greenzo Energy will establish a hydrogen generation plant with a capacity of 20 normal cubic meters of hydrogen per hour, marking a key milestone in advancing India's Green Hydrogen Mission. The project is scheduled to be completed within 18 months timeframe, " Sandeep Agarwal, Founder and Managing Director of Greenzo Energy India Limited, said. The electrolyzers

NLCIL produces 12.34 billion units of green power as it treads RE path

State-owned NLCIL has produced 1,234 crore units of green power, thereby preventing the emission of one crore tonne of carbon dioxide, a coal ministry statement said. Primarily a lignite-based power generating company, NLCIL is targeting 10,000 MW renewable energy capacity by 2030. NLC India Ltd (NLCIL) ventured into renewable energy with 1,380 MW of solar power plants and 51 MW of wind power plants. To achieve the target of 10,000 MW, NLCIL has formed new subsidiaries--NLC India Renewables Ltd (NIRL) to focus on asset monetisation and NLC India Green Energy Ltd (NIGEL) to spearhead clean energy initiatives. Furthermore, NLCIL's membership in the International Solar Alliance (ISA) underscores its commitment to environmental sustainability within the coal sector. With a current renewable energy capacity of 1.4 GW, NLCIL is set to quadruple this figure by 2030. Significant projects are underway in Neyveli (Tamil Nadu), Barsingsar (Rajasthan), Gujarat, and Assam. Last month, NLCIL s

NTPC Green Energy's Rs 10,000 cr IPO likely in November first week

NTPC Green Energy, a subsidiary of state-owned power giant NTPC, is likely to bring its initial public offering (IPO) to raise Rs 10,000 crore in first week of November, a source said. Last week, NTPC Green Energy had filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through IPO. The highly placed source said the IPO is expected to be launched in first week of November this year. The company has planned roadshows in India (Mumbai) as well as abroad, especially in Singapore, the source informed. The initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP). The company said proceeds of the issue 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, while a portion will be utilised for general corporate purposes. The filing comes at a time when the country's

SJVN generates 8,489 MU of power as green energy in FY24: CMD Sharma

State-owned SJVN generated 8,489 million units (MUs) of green energy from its operational hydro, solar and wind power stations in 2023-24, a top company official said. SJVN CMD Sushil Sharma made the remarks at the company's 36th Annual General Meeting (AGM) for the 2023-24 financial year. "Despite facing challenging hydrological conditions due to climate change, SJVN demonstrated resilience in its operations. In FY24, the company generated 8,489 MUs from its operational hydro, solar and wind power stations," a company statement quoted Sharma as saying. The power stations set new records, including highest-ever daily generation of 39.570 million units (MU) and 10.971 MU by 1,500 MW NJHPS (Nathpa Jhakri Hydro Power Station) and 412 MW Rampur HPS, respectively, in July 2023. The highest-ever monthly generation of 1,590.072 MU was recorded from all operational projects in August 2023 and Rampur HPS also achieved the highest-ever monthly generation of 337.165 MU during the month. Duri

NTPC Green Energy files draft papers for around Rs 10,000 crore IPO

Senior management of the company confirmed the development, but the spokesperson declined to comment

UK govt can reclaim GBP 500 mn funding if Tata Steel fails on commitments

Tata Steel signed a GBP 500 million grant funding pact with the UK government to advance the installation of a low-carbon electric arc furnace at Port Talbot

Should build manufacturing economy greener than China's: Tata Steel CEO

India should build a manufacturing economy which is greener than China's, with a holistic approach that involves both the government and the private sector, Tata Steel CEO T V Narendran said on Wednesday. While addressing a panel discussion at AIMA Convention here, Narendran stressed the need to make the transition to a green manufacturing economy at a fast pace, else India would lose market share. "Unlike China which built a large manufacturing economy and now is trying to make it green, India can build a large manufacturing economy which is greener than the one that China built over the last 20-30 years," he said while replying to a question on the energy transition from fossil fuel to a cleaner future driven by two sectors cement and steel. "So that's an opportunity for India. It is also a risk for India. If India does not make the transition fast enough, we will find that large economic blocks like the US, Europe and China have already made the transition and India gets locked o

TotalEnergies to make further $444 mn investment in JV with Adani Green

The statement said the new JV company will house a 1,150-megawatt (MW) portfolio, which will comprise a mix of operational and under-execution solar assets, with a blend of both merchant-based and PPA

Cabinet approves India's agreement with 14-member IPEF economic bloc

The Union Cabinet has approved the commerce ministry's proposal to sign the 14-member IPEF (Indo-Pacific Economic Framework for Prosperity) bloc's agreements on a clean and fair economy, an official said on Monday. In June in Singapore, 13 IPEF bloc members signed these agreements, while India said it would ink the deals after getting domestic approval. The official, who does not wish to be named, said that the proposal to sign these agreements has been approved by the cabinet in its meeting here on Monday. Agreement on a clean economy intends to accelerate efforts of IPEF partners towards energy security and transition, climate resilience and adaptation, GHG (greenhouse gas) emissions mitigation, finding/developing innovative ways of reducing dependence on fossil fuel energy, promoting technical cooperation, workforce development, capacity building, and research collaborations, and collaborate to facilitate development, access, and deployment of clean energy and climate-friendly ..

India added 1.1 GW of rooftop solar capacity from January to June: Report

The report titled - 'India Rooftop Solar Market' - noted that in the second quarter of 2024, 731 MW of rooftop solar was installed, an 89 per cent jump year-on-year

C&I segment emerges as lucrative for energy companies and investors

Leading names in the energy sector Tata Power, JSW Energy, ReNew, Hero Future Energies, and Sterlite Power have announced plans for a dedicated C&I business vertical

KPI Green Energy receives LoIs for 13.30 MW green energy projects

KPI Green Energy on Monday said it has received letters of intent for 13.30 MW of green energy projects. The company said its wholly-owned subsidiary Sun Drops Energia will develop the projects, according to a regulatory filing. "KPI Green Energy has received Letters of Intent for executing solar power projects with a cumulative capacity of 13.30 MW under the Captive Power Producer (CPP) business segment of the company," it said. The projects are scheduled to be completed in the financial year 2024-25, in various tranches, it said.

BC Jindal Group lines up green energy foray with $2.5 bn investment

Founded in 1952, the B C Jindal group is engaged in the manufacturing of steel pipes and pipe fittings

India leading G20 in green growth, climate action: PM Narendra Modi

PM lists India's green energy achievements, says only G20 nation to achieve emission target

ONGC, JSW, Sembcorp shortlisted for majority stake in $800 mn Ayana deal

Ayana Renewable Power, backed by NIIF manages a 5 GW portfolio of operational and under-construction projects. The company is open to sell up to 100% of its stake

Gensol, Matrix Gas win Rs 450 cr PLI scheme for hydrogen electrolyser mfg

Gensol, Matrix Gas emerged as the winning consortium for a 237 MW hydrogen electrolyser manufacturing capacity PLI scheme, part of India's National Green Hydrogen Mission

ADB, World Bank's IFC, DEG pump $275 million into Fourth Partner Energy

Largest equity deal by 3 investors in Indian RE sector

Despite new coal plants, India will face more power cuts by 2027: Research

India's power crisis: To avert a looming power shortage, India must accelerate efforts to boost renewable energy capacity, warns new research

Transitioning to a green future: Budget 2024 underlines energy security

The government will also formulate a roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets'

Largest oil firm IOC targets $1 trillion revenue by 2047: Chairman Vaidya

Indian Oil Corporation, the nation's largest oil firm, is targeting to become a USD 1 trillion company by 2047, combining growth in traditional oil refining and fuel marketing with clean energy avenues like green hydrogen and EV charging, its chairman said. Indian Oil Corporation (IOC) posted a record net profit of Rs 39,619 crore (USD 4.7 billion) on a revenue of Rs 8.66 lakh crore (USD 104.6 billion) in the 2023-24 (April 2023 to March 2024) fiscal. The company will continue to invest in fossil fuels and new energy avenues to have a balanced portfolio that will help achieve net-zero carbon emissions by 2046, company chairman Shrikant Madhav Vaidya said in its latest annual report. It will expand oil refining capacity, and invest in petrochemical units that will convert crude oil into value-added chemicals directly, while also increasing its focus on gas, biofuels and clean mobility. "With India's economy on the rise, the energy needs of the country are growing exponentially. As '