Page 7 - Renewable Energy Sector

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

Govt allows agencies to extend commissioning date of solar, hybrid projects

In a bid to provide relief to renewable energy players, the government has allowed the implementing agencies to extend the commissioning date of solar PV and solar PV-wind hybrid power projects till March 31, 2024. "Solar PV power developers/associations have represented to MNRE that there is a supply chain disruption in the solar PV sector and have requested appropriate reliefs to tackle the same," the Ministry of New and Renewable Energy (MNRE) said in a notification on Thursday. "This issue has been examined in the Ministry and it has been decided that implementing agencies SECI/NTPC/NHPC may extend the scheduled commissioning date (SCD) till 31.03.2024 and commensurately extend other associated intermediate milestones of such solar PV/Solar PV-wind hybrid power projects, wherein the last date of bid submission was on or after 10.04.2021 and whose SCD, including time-extensions, already granted, if any, is before 31.03.2024, and who wish to avail such time-extension," it said. Th

RE firms may use rupee loans to refinance $3 bn overseas green bonds

Costly overseas funds forcing them to tap domestic sources

Uttar Pradesh sets a target of Rs 40,000 cr investments in energy sector

The steep proliferation in the state energy demand is attributed to the projected setting up of new industries and manufacturing plants over the next five years

IIT Madras generates power from sea waves, aims to go commercial by 2024

Innovation may help India achieve climate change-related goal of generating 500 Gw of renewable energy by 2030

TN eyes key role in offshore wind energy, may mop up $30 bn investments

According to govt estimates, 14 locations have been identified in the state, with potential to generate 25 Gw of wind energy

Five changes that can help India reach its green energy goal faster

Experts say India will need systemic changes in policy and electricity infrastructure to quickly ramp up its renewable energy capacity

Sembcorp to acquire Vector Green for Rs 2,780 cr, expand India presence

Sembcorp Industries will acquire Vector Green Energy for Rs 2,780 crore to expand its renewable energy footprint in India to 3 gigawatts (GW), the company said on Sunday. The completion of the acquisition will bring the Singapore-based group's gross renewable energy capacity to 8.5 GW, closer to its 2025 target of 10 GW of gross installed renewable capacity. "Sembcorp Industries (Sembcorp) announces that its wholly-owned subsidiary, Sembcorp Green Infra Limited, has signed an agreement with India Infrastructure Fund II, a fund managed by Global Infrastructure Partners India Pvt Ltd, to acquire 100 per cent interest in Vector Green Energy Private Limited (Vector Green) for a base equity consideration of approximately Rs 2,780 crore," it said in a statement. Vector Green is an independent power producer with renewable power generation assets across 13 Indian states. The portfolio includes 495 megawatts (MW) of solar capacity and 24 MW of wind capacity in operation, with 64 MW of solar

JSW Energy likely to close Rs 10,530-cr Mytrah acquisition by December-end

The deal, announced in August, is JSW Energy's largest till date; will take the firm's operational generation capacity to 6.5 Gw from 4.8 Gw now, and accelerate its plans to achieve 10 Gw by FY25

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