Page 6 - Renewable Energy Sector

France's Total Energies to invest $300 mn to form JV with Adani Green

First public deal between oil giant and Indian conglomerate since a short-seller leveled fraud allegations against the latter

With aim to provide quality electricity, Rajasthan to beef up energy infra

Power distribution companies (discoms) have appealed to electricity consumers to control their power consumption

Cabinet approves viability gap funding for battery storage system

The VGF scheme for BESS projects was first announced in the Union Budget 2023

Ireda partners with banks to boost renewable energy projects in India

Agreements with Union Bank of India and Bank of Baroda set to empower renewable energy projects

Centre sets Rs 4,350 cr as target for IREDA in operating revenues

In the previous financial year, Indian Renewable Energy Development Agency (IREDA) managed to achieve revenue from operations of Rs 3,482 crore, surpassing the target of Rs 3,361 crore

India to reduce coal-based power; targets over 64% renewables by 2030

It is not true that India is not reducing coal-based power generation capacity in the energy mix, a senor government official said, adding that the country is targeting over 64 per cent of non-fossil fuel-based capacity by 2030. India has set the target of having 500GW of renewable energy by 2030. Coal-based power generation, however, ensures stable operation of the electricity transmission grid. "It is not true that we are not reducing coal. We are in the business of energy transition. But keeping in mind energy security and supply to each and every consumer, we have to provide electricity to all types of consumers including commercial, domestic and industrial," Chairman, Central Electricity Authority, Ghanshyam Prasad said at the BCC&I Environment and Energy Conclave here. India's power infrastructure is mostly dominated by coal (based generation) as it constitutes more than 50 per cent in terms of capacity. In terms of output, the share of fossil fuel-based energy is 70 to 74 ..

Hero Future Energies signs Rs 6,200-cr MoUs for renewable energy projects

Hero Future Energies on Tuesday said it has signed two agreements with REC and PFC to develop green energy projects. The agreements were signed on the sidelines of the 4th G20 Energy Transition Working Group meeting, which concluded last week in Goa, Hero Future Energies said in a statement. "Hero Future Energies (HFE) has signed two memorandums of understanding (MoUs) with REC Ltd and PFC Ltd for infusion of Rs 3,100 crore each into HFE over the next five years," it said. The funds will be used to develop renewable projects across the country, including solar and wind for commercial and industrial customers, utility projects and green hydrogen derivatives, and will strengthen the company by ensuring the financial closure for future projects.

Investment in renewable energy concentrated in developing countries: Expert

While huge amount of investment is occurring in the renewable energy sector, a large proportion of it goes to developing countries and the rest of the world get hardly any fund, Ajay Mathur, Director General of International Solar Alliance, said on Thursday. Talking to PTI at the sidelines of an event during G20 fourth Energy Transitions Working Group meeting, Mathur said that the net zero emission target is possible. "We see a huge amount of investment occurring in renewable energy in general and solar in particular. In 2022, the investment in renewable area was approximately 500 billion dollars of which half was in the solar," he said. Mathur said, "The problem is that the vast amount of this money went to the countries like China and large emerging developing countries while rest of the world, hardly got anything." He said that the investment in Africa (African continent) for example was less than 5 per cent. Mathur said that the investment is "extremely differentiated, it is n

Renewable energy firm Goldi Solar forays into power backup solutions biz

Renewable energy player Goldi Solar on Thursday announced its foray into power backup solutions business with the launch of its VAMA On-grid range of inverters. The Gujarat-based company is in the process of expanding its module manufacturing capacity to 6 gigawatt from 2.5 gigawatt (GW) at an investment of Rs 5,000 crore. In a statement on Thursday, Goldi Solar said, "It has forayed into the smart inverter business and launched VAMA On-grid range of smart string inverters. The inverter range is available in single-phase and three-phase variants designed specifically for on-grid applications". On-grid inverters are systems that convert solar power DC into the main power supply. Goldi Solar founder and Managing Director Ishver Dholakiya said the company targets a sizable share of residential, commercial and industrial segments in India over the next two-three years with the latest product. "This technology used in VAMA increases surface area for heat transfer and enhances product .

EU mechanism to track carbon intensive imports is an opportunity for India

Indian industry has made commendable progress in becoming energy efficient and less carbon intensive

R K Singh urges women to increase participation in renewable energy sector

Union Power and New & Renewable Energy Minister R K Singh has exhorted women to increase participation in the renewable energy sector and steer the country's transition towards net zero emissions. Speaking at a conference on 'Women in Renewable Energy: A Dialogue on Policy, Technology, Skilling, and Finance' on Monday, Singh mentioned India's key achievements in the renewable energy sector and stated that the country's actions are in line with commitments made in the Paris Agreement to limit the temperature increase to well below 2C above pre-industrial levels. As per a statement issued by the Ministry of New and Renewable Energy, Singh exhorted women to increase participation in the renewable energy sector and steer India's transition towards net zero emission. Highlighting the role of women in combating climate change, he emphasized the significance of developing women-centric policies and implementation frameworks in the renewable energy sector. Singh recognised how women are ..

National Electricity Plan: Coal to fall behind renewables by 2032

Power generation capacity likely to touch 900 Gw

National electricity plan: Rs 33.60 trn needed for power generation

Central Electricity Authority has outlined the National Electricity Plan for 2022-2032, emphasising renewable energy growth and the funds required for power generation and storage capacity

Solar power investment set to surpass oil production spending this year

The growth in clean energy spending is driven by technologies including solar panels and electric vehicles that are key to cutting dependence on the use of oil, coal and natural gas

Vibrant Energy appoints Anirban Das as its Chief Investment Officer

Renewable energy solutions provider Vibrant Energy on Thursday announced the appointment of Anirban Das as its Chief Investment Officer. Vibrant Energy has announced the appointment of Anirban Das as the Chief Investment Officer (CIO) of the company, a statement said. Vibrant Energy is a portfolio company of Macquarie Asset Management's Green Investment Group (MAM-GIG) with a mission to lead the decarbonisation initiatives for corporate renewable energy customers and help them to attain a more sustainable, resilient, and low-cost energy future. In this role, Anirban will work closely with Srinivasan Viswanathan, CEO, leading all fund raising and investment activities across the capital stack for Vibrant, it stated. Anirban, an MBA from IIM Ahmedabad, brings with him a rich experience of more than USD 2.5 billion of infrastructure debt funding in India. Headquartered in Singapore and Hyderabad, Vibrant is operating and delivering more than 2GW of renewable energy solutions for ...

No plans to extend ALMM for renewable energy player, says official

There are no plans to further extend the Approved List of Models and Manufacturers (ALMM) of solar photovoltaic modules at the moment, a senior government official said on Wednesday. Lalit Bohra, Joint Secretary at the Ministry of New and Renewable Energy (MNRE), has made the remarks at the annual 'Mercom India Renewables Summit 2023' in the national capital. Replying to a question on plans of extension to the ALMM, he said: "ALMM was only deferred for a year. As of now, we are very clear we are not extending it". The government earlier extended the ALMM by one year till March 2024 amid industry raising concerns over raw material availability and supply chain. ALMM was introduced to boost domestic manufacturing. The official further said that "the ministry on a regular basis keeps on interacting with industry stakeholders and actively addresses their issues with respect to projects". On a question related to include the ancillary and downstream industry under the production-linke

SCO will help amplify fight against food, energy security challenges: India

India on Wednesday said that with the world facing challenges of a "looming economic recession", a closer cooperation amongst the Shanghai Cooperation Organisation (SCO) members will play a pivotal role in combating challenges such as food and energy security. Speaking at the 19th meeting of the Shanghai Cooperation Organisation Interbank Consortium (SCO IBC), Vivek Joshi, Union Secretary for Department of Financial Services, also said that India has been contributing to mitigate the challenges of food and energy security. Today, when the world is facing challenges of a looming economic recession, a closer cooperation among SCO Member States shall play a pivotal role in combating global challenges such as food and energy security concerns, he said. As part of India's contribution to mitigating these challenges, India's Prime Minister has launched the global Mission 'LIFE' which stands for Lifestyle for Environment. LIFE envisions replacing the prevalent use-and-dispose economy, ...

RE players discuss ways to strengthen supply chain network: Mercom India

Over 300 experts from the power and renewable energy industry will gather in the national capital to explore business opportunities and measures to boost supply chain systems in the sector at a two-day summit beginning Wednesday. The participants will also discuss ways to reduce their energy costs amid the government's push towards use of renewable energy, Mercom India said in a statement. The discussions will be part of the annual 'Mercom India Renewables Summit 2023' which begins on April 26, 2020. "Over 300 players have confirmed their participation. The players will explore growth opportunities as India moves towards clean sources, strengthening local supply chains system, reducing input cost," Mercom India's Managing Director Priyadarshini Sanjay said in the statement. The event will also see participation from overseas players who are keen to explore the domestic solar and power industry to expand their presence, she said. The experts will discuss the changing landscape of .

Corporates hopeful for green hydrogen; may pump Rs 16 trillion in 10 years

Industry experts have said that it will take a combination of technological advancements and regulatory support to boost the cost-effectiveness and viability of green hydrogen in the country

$50-bn market opportunity for RE-powered livelihood appliances: Report

A USD 50-billion market opportunity exists for clean energypowered livelihood appliances to boost India's rural economy, especially among women, according to a report. In India, more than 75 per cent of all female workers are employed in agriculture and agri-allied industries such as food processing and livestock. With the help of decentralised renewable energy (DRE) technologies which are capable of mitigating intermittent electricity problems and introducing mechanisation, the rural women will be able to improve their productivity, according to the 'Unlocking Sustainable Livelihood Opportunities for Rural Women' report conducted by the Powering Livelihoods -- a CEEW and Villgro initiative. The report showcases several models to mainstream women in tech-enabled livelihood opportunities using distributed renewable energy-powered technologies as a case study. "Powering Livelihoods has helped more than 13,000 end-users using programme-supported DRE livelihood technologies, out of whi