Page 7 - Renewable Energy Sector

Developing economies will need $1 trn in RE sector to achieve net-zero: IMF

The IMF on Friday said that developing economies needed an investment of USD 1 trillion a year by 2030 solely in the renewable energy sector to stay on track to achieve the net-zero greenhouse gas emissions target by 2050. Observing that emerging markets and developing economies account for two-thirds of global greenhouse gas emissions and many are highly vulnerable to climate hazards, the International Monetary Fund said these developing economies would need significant climate financing in the coming years to reduce their emissions and to adapt to the physical effects of climate change. The investment needs of these economies solely in renewable energy could reach USD 1 trillion a year by 2030 if they are to stay on track to achieve net-zero greenhouse gas emissions by 2050, it said, adding that developing economies alone will require up to USD 300 billion a year by 2030 to adapt agriculture, infrastructure, water supply, and other parts of their economies to counterbalance the ...

Reliance on a buying spree to achieve its renewable energy goals

In AGM 2022, Ambani said that they would "accelerate" the company's commitment to investing Rs 75,000 crore towards establishing a New Energy manufacturing ecosystem in Jamnagar

Centre lifts Chinese import restrictions on CPSEs to boost RE projects

The move will enable the CPSEs to import freely the four categories of goods from any country, including China, which heavily dominates the renewable energy supply chain

TPG weighing majority stake sale in Fourth Partner Energy: Report

The private equity firm is working with an adviser on the deal, said the people.. A stake sale could value Fourth Partner at around $600 million, the people said.

India Inc's green push gets a fillip with amended Energy Conservation Bill

Share of thermal energy for manufacturing companies almost 95%

Sterlite Power to launch renewable energy biz, cater to industrial clients

To provide integrated green energy solutions to carbon-intensive industries

Tata Power to skill 3,000 youths to work in renewable energy sector

Tata Power on Friday said it will give training to 3,000 youths this fiscal in the field of renewable industry. The company aims to train a total of 5,000 youths by 2025 to work in the sector, Tata Power said in a statement. "Tata Power Skill Development Institute ( TPSDI) has so far trained 1.4 lakh people across its courses both conventional and renewable energy technology. It is expanding its training initiatives to equip youth with skills for green energy jobs. The institute has planned to train around 3,000 youths in FY23 and around 5,000 by 2025," it said. The training will be offered in solar photovoltaic for electric vehicle charging, installation and maintenance of rooftop solar photovoltaic, installation of smart meters, and home automation to promote smart and efficient energy related expertise across its six training centres at Shahad, Trombay, Vidyavihar, Maithon, Mundra, and Jojobera. "India is making significant strides toward achieving its clean energy goals and ...

Morgan Stanley-backed Continuum Green Energy raises $350 mn via bonds

Continuum Green Energy, a renewable energy platform, on Wednesday said it has raised USD 350 million (about Rs 2,786 crore) in debt through a bond issue to expand its solar hybrid and wind projects. The company, which has a portfolio of 1.3 GW of assets either operational or nearing commissioning, issued senior secured floating rate notes to two marquee international institutional investors, as per an official statement. "With these funds, the company aims to expand its portfolio to 2.5 GW, majority of which as wind and solar hybrid projects, servicing Commercial and Industrial (C&I) consumers, enabling them to meet their sustainability goals economically," its founder and chief executive Arvind Bansal said. Continuum is majority-owned by a global infrastructure fund managed by Morgan Stanley Infrastructure Partners, and has 1.2 GW of projects for near term construction, as per the statement. It can raise an additional USD 50 million on fulfilment of certain conditions, it ...

India needs Rs 4-trn investment for 113 GW RE projects in pipeline: Report

According to the report titled 'Accelerating India's Clean Energy Transition', about 103 GW of utility-scale renewable power generation projects are in the pipeline in India

Financial health of discoms hurdle for renewable energy sector: Moody's

The payment delays to the state-owned distribution companies are common, leading to a build-up of receivables from off-takers and an increase in working capital debt for renewable energy companies

Boost to green corridors: Rs 41,369-cr transmission projects on offer soon

With these, RE connectivity and private participation will get a fillip

How renewable energy became price-competitive with conventional power

Solar power resources are more evenly distributed. Yet, most solar capacity addition is seen in the states already rich in windpower

Plummeting RE tariffs edge out small players even as bigger ones expand biz

The sharp drop in renewable energy tariffs is encouraging smaller players to exit even as larger ones look to innovative financing methods to expand their portfolios

World still falls short of ensuring equitable access to energy: Report

During the last decade, a greater share of the global population gained access to electricity than ever before, but the number of people without electricity in Sub-Saharan Africa actually increased

PLI scheme, basic customs duty: Only flickering benefits for solar power

A production-linked incentive scheme and possible basic customs duty will have a limited impact in encouraging domestic solar equipment manufacture

Adani Green Energy arm get letter of award for 300 MW wind project

Adani Green Energy (AGEL) on Monday said that its arm has received a letter of award for 300 MW wind power project under a tender of Solar Energy Corporation of India

India to levy 40% duty on solar equipment imports from next year

India is planning to expand its renewable power capacity fivefold to 450 gigawatts by 2030

Indian renewable firms underperformed but credit quality intact: Moody's

Moody's said India's renewable energy sector grew by 20% in the last five years

Goldman-backed ReNew Power to list on NASDAQ at $8 billion valuation

To partner with RMG Acquisition Corporation for private investment in public equity

Adani energy business joins top-20 global club on massive renewables thrust

Total valuation now touches $31 billion (Rs 2.32 trillion); Nextera Energy of the US and Enel of Italy top the global list with $151 billion and $103 billion, respectively