Page 9 - Green Energy

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 '

Citigroup expects India to attract $100 billion in foreign Investments

Apart from climate transition, India's forays into electronics and infrastructure-related manufacturing are gaining prominence with investors abroad, an expert said

Brookfield announces strategic investment in TN-based Leap Green Energy

Brookfield and Leap Green recently entered into definitive strategic investment agreements pursuant to which Brookfield has acquired a majority controlling stake in the company

Power sector Budget wish list: Funds for green energy, more domestic mfg

Sector executives are expecting a relook of GST rates across the renewable energy supply chain, and viability gap funding for newer sectors

Climate change cannot be ignored, says CJI, bats for green lifestyle

Flagging recent heatwaves followed by heavy rainfall in Delhi, Chief Justice of India (CJI) D Y Chandrachud on Tuesday said climate change cannot be ignored and stressed the need to adopt a "green lifestyle" to reduce carbon emissions. The CJI was speaking at a foundation stone-laying ceremony at Karkardooma, Shastri Park and Rohini here for trial court buildings in the capital. "This year, Delhi experienced the hottest-recorded weather. We have experienced two heatwaves followed by record-breaking rain in a single day. Our infrastructure must reflect the reality we live in -- climate change can no longer be ignored. "One crucial step is to incorporate a green lifestyle into our daily lives, which includes reducing carbon emissions. I was delighted to know that the new buildings will focus on heat-island mitigation and reduce environmental footprint," he said. The CJI referred to an 18th-century case, in which one Rama Kamati's servant was subjected to custodial torture to confess

China stops providing data that showed dip in renewable power plant usage

The report did not give a reason for the change and China's energy administration did not immediately respond to a request for comment

World Bank approves $1.5 bn loan to support India's green hydrogen push

This is the second round of funding from the World Bank towards India's green energy push

AI will advance green tech, offsetting its emissions, says Bill Gates

Gates countered the additional demand from electric cars, heat pumps, and green steel manufacturing will all "dwarf even this amazing demand for data centers now."

Inox Green Energy Services board approves fundraise worth Rs 1,050 crore

Inox Green Energy Services on Wednesday said its board of directors has approved a proposal to raise up to Rs 1,050 crore through issuance of equities and convertible warrants. The board of directors at its meeting held today approved the fund raise aggregating up to Rs 1,050 crore by way of a preferential issue, the company said in an exchange filing. Under the fund raising plan, the company intends to issue over 2.89 crore equity shares at an issue price of Rs 138 inclusive of a premium of Rs 128 per share, aggregating up to Rs 400 crore, to non-promoter entities. The company also plans to issue over 4.48 crore convertible warrants each carrying a right to subscribe to one equity share of face value of Rs 10 each of the company at a price of Rs 145 per warrant inclusive of premium of Rs 135 in one or more tranches aggregating up to Rs 650 crore to both promoter/promoter group and non-promoter entities. Inox Green Energy Services, an INOX GFL Group company, is engaged in the busin

Shree Cement's installed renewable power capacity touches 1 GW across India

India's third largest cement manufacturer Shree Cement on Monday announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit. "The one GW (Gigawatt) capacity includes a mix of solar, wind, thermal and waste heat recovery power plants, showcasing Shree Cement's diversified approach to meeting the electricity demand for cement production," the Bangur family-promoted firm said in a statement. The company has made an investment of Rs 4,000 crore to expand the renewable portfolio, which now accounts for nearly half of the installed power capacity. "Looking ahead, an estimated capex of Rs 1,000 crore is planned in FY25 for installation of additional renewable energy capacity," it said. This includes the installation of 132 MW of solar capacity in five states - Jharkhand, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand, 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnatak

Driving towards green horizons, OMCs unite for hydrogen road map

Fuelling the future: Oil ministry PSUs aim for 1 mt of green hydrogen by 2030

IOC, GPS Renewables form joint venture for sustainable energy solutions

State-owned Indian Oil Corporation (IOC) on Wednesday said it has entered into a joint venture with biofuels company GPS Renewables Pvt Ltd to foster sustainable energy solutions in India. "This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country," the firm said in a statement. The agreement was signed by Mainak Chakraborty, CEO & co-founder of GPS Renewables and Santanu Gupta, ED (Alternative Energy) at IOC. "The joint venture will focus on integrating advanced biogas technologies to convert organic waste into compressed biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels," it said. By leveraging their combined expertise, IOC and GPS Renewables aim to accelerate the deployment of Compressed Bio Gas (CBG) plants nationwide. These initiatives complement IOC's long-term .

Jakson Green bags NTPC bid for project to produce 4G ethanol from flue gas

New energy transition platform Jakson Green on Wednesday said it has bagged an order from state-owned NTPC for setting up a plant to produce 4G ethanol from flue gas. The proposed plant at Lara in Chhattisgarh will produce 10 tonnes per day (TPD) of 4G ethanol from flue gases emitted from power plants, a company statement said. Using the latest carbon capture technology by Veolia Carbon Clean, the plant will capture 25 TPD CO2 from flue gases, significantly reducing greenhouse gas emissions, it said. Also, 3 tonnes per day of green hydrogen will be generated through 7.5 MW electrolyser, the statement said. Captured carbon dioxide (CO2) and generated hydrogen (H2) are combined via advanced microbial fermentation technology from LanzaTech Inc., converting these inputs into 4G ethanol, it explained According to the statement, Jakson Green has been awarded a critical role in India's groundbreaking project towards a greener future, establishing the world's first flue gas CO2-to-4G etha

Will invest $100 bn in energy transition over next decade: Gautam Adani

Adani group will invest more than USD 100 billion (around Rs 835 crore) in energy transition projects and manufacturing capability to produce every major component required for green energy generation, its chairman said on Wednesday. Besides building solar parks to produce electricity from sunlight and wind farms that do the same from wind, the conglomerate is building major facilities to manufacture electrolyzers for making green hydrogen, wind power turbines and solar panels. Green hydrogen, which is made by splitting hydrogen from water with the help of electrolyzers powered by clean energy, is seen as a potential panacea for decarbonizing the industry as well as transportation. Speaking at 'Infrastructure - the Catalyst for India's Future' event of Crisil, Adani Group chairman Gautam Adani said energy transition and digital infrastructure are trillion-dollar opportunities which will transform India both at a local and at a global scale. "The next decade will see us invest more