Page 14 - Renewable Energy

JSW Energy Q2 FY25 results: Net profit flat at Rs 853 cr, revenue falls 1%

Net generation, JSW Energy said, increased 14 per cent from a year ago to 9.8 billion units, driven by wind capacity additions and higher generation at thermal and hydro plants

SECI plans to bid for state projects to meet 10 GW renewable energy target

The company, which issues and award tenders for the federal government's renewable energy projects, expects investments worth $7.7 billion for a mix of solar, wind and battery storage projects by 2030

Need Rs 32 trn investment in renewable sector by 2030, says IREDA CMD

India will require about Rs 32 lakh crore of investment in the renewable energy sector by 2030 to meet its targets, Indian Renewable Energy Development Agency's (IREDA) Chairman & Managing Director Pradip Kumar Das said on Monday. Speaking at the 23rd India Power Forum 2024, Das called on lenders to adopt a more customer-centric and sector-focused approach, emphasizing the need for timely financial solutions and innovative offerings tailored to the renewable energy sector. He stressed the pivotal role of renewable energy in India's journey towards creating a net-zero-compliant power sector. Das pointed out that India will require an estimated investment of approximately Rs 32 lakh crore in the renewable energy sector by 2030 to meet its targets. This phase will focus on ramping up renewable energy generation to meet immediate needs. From 2031 to 2047, the focus will shift towards developing the necessary infrastructure to support a fully decarbonized economy, creating a strong and

Brookfield Properties to supply green power to office campuses in Delhi-NCR

Brookfield Properties will source renewable power from solar project at Bikaner in Rajasthan for supplying green energy at four office campuses across Delhi-NCR. In a statement on Monday, Brookfield Properties said it has "secured renewable power from Brookfield's Bikaner Solar Power Project in the first partnership in India under the Inter State Transmission System (ISTS) bilateral arrangement." As a result, Brookfield Properties' occupiers in Delhi- NCR now receive 40 per cent of their energy from renewable power. This transition at its four campuses -- Candor TechSpace Sector 48 and 21 in Gurugram, and Candor TechSpace Sector 62 and 135 in Noida -- is part of the Brookfield India Real Estate Trust portfolio and is expected to reduce more than 20,000 tonne of CO2 annually. Brookfield Properties is one of the leading global operators and developers of real estate assets. It is active in nearly all real estate segments including office, retail, multifamily, hospitality, and ...

Meeting 2030 target may push India's solar imports to $30 bn per yr: GTRI

The country's target of installing 500 GW of renewable energy by 2030 may push solar equipment import bill to about USD 30 billion per year and increase dependence on Chinese goods, think tank GTRI said in a report on Sunday. It said developing a self-reliant solar manufacturing industry in India will require significant investment to create an integrated supply chain, especially in areas like polysilicon and wafer production. Without this, India may continue to face high import costs and struggle to meet its renewable energy goals. India installed 15 GW of solar capacity in 2023-24, raising the total to 90.8 GW by September, compared to just 2.8 GW in 2014, it said. To meet the government's target of installing 500 GW of renewable energy by 2030, India needs to significantly ramp up installations to 65-70 GW each year, with over 80 per cent of this target expected to come from solar power, according to the Global Trade Research Initiative (GTRI). "This target seems ambitious, ...

Tata Power firm launches programme to promote solar power in Tamil Nadu

Initiative provides subsidies to households to adopt green energy, says company

Committed to long term investment in India: Sembcorp Industries' Nithyanand

India offers some of the most renewables-friendly policies in the world, which ably supports the massive energy transition that the country is undergoing, Nithyanand added

India to invest in transmission, storage for renewable energy expansion

The push to increase RE capacity aligns with India's commitment to combat climate change and reduce global warming, aiming to achieve 500 Gw of RE capacity by 2030

'Age of electricity' to follow looming fossil fuel peak, says IEA

Surplus fossil fuel supplies would likely lead to lower prices and could enable countries to dedicate more resources to clean energy, moving the world into an age of electricity, they said

IREDA gets DIPAM nod to set up subsidiary for retail, B2B biz in RE segment

State-run IREDA has received approval from DIPAM to set up a wholly-owned subsidiary to undertake retail and B2B business in the renewable energy sector. Indian Renewable Energy Development Agency (IREDA), under the Ministry of new and renewable energy, is a non-banking financial institution. It has received in-principle approval from the Department of Investment and Public Asset Management (DIPAM) to establish a wholly-owned subsidiary to handle retail business under PM-Suryaghar (Rooftop Solar), PM-KUSUM schemes, and other B2C segments in the renewable energy (RE) sector, IREDA said in a statement on Thursday. The subsidiary will also focus on emerging RE sectors, including EVs, energy storage, green technologies, sustainability, energy efficiency, etc. IREDA CMD Pradip Kumar Das said, "By extending our expertise in RE finance to retail market, we will provide innovative financing options for both urban and rural consumers, promoting sustainable practices and reducing carbon ...

Suzlon gets Jindal Renewables wind plant deal for green steel production

Project is the largest commercial and industrial wind energy order in India, say companies

Pralhad Joshi, German Vice-Chancellor discuss cooperation in RE sector

Union Minister for New and Renewable Energy Pralhad Joshi and Germany's Vice-Chancellor Robert Habeck have discussed opportunities and areas of cooperation in renewable energy, an official statement said on Wednesday. The minister met Habeck, who is also the Federal Minister for Economic Affairs and Climate Action, on the sidelines of the Hamburg Sustainability Conference (HSC) in Berlin, Germany, on Tuesday, the Ministry of New and Renewable Energy said. "Held a bilateral meeting with Dr Robert Habeck on the sidelines of HSC2024. Had a fruitful discussion on strengthening cooperation in renewable energy. Deliberation on opportunities in green hydrogen, offshore wind, biogas, and recycling of solar waste was also held during the meeting. We were happy to note that India and Germany's cooperation on energy transition is progressing well," Joshi said. India will emerge as a trusted source of green hydrogen for Germany in the coming years, he added.

Renewable energy to fall short of UN goal to triple by 2030, says IEA

It said the increase is equivalent to the current power capacity of China, European Union, India and the United States combined, but not enough to meet a target set at the COP28 UN climate conference

Hindustan Zinc plans to transition to renewable energy in 5-7 years

More than 90% of the company's emissions come from thermal energy, Agarwal said. Hindustan Zinc has a captive thermal power capacity of 514 megawatt

Power generation increases 86% to 360 bn units in 10 yrs: Minister Joshi

The country has registered an 86 per cent increase in power generation through renewable sources to 360 BU in the past 10 years, Union Minister Pralhad Joshi said noting India is the only G20 country to have met its climate targets ahead of schedule. The minister for new and renewable energy made the remarks while addressing the ongoing 'Hamburg Sustainability Conference' in Germany, an official statement said. India has witnessed a transformative increase in its renewable energy capacity since 2014, with a 175 per cent rise from 75 GW to over 208 GW today. Total RE increased from 193.5 billion units to 360 BU, marking an 86 per cent rise during this period, Joshi said. "India is the only G20 country to have met its climate targets ahead of schedule, despite having the lowest per capita emissions among G20 nations," he noted. The minister further said that India is also upgrading its port infrastructure to support green shipping fuels and vessels using hybrid models, with the goal

REI Expo saw Rs 1,850 cr investments committed for biogas sector: IBA

Investments worth Rs 1,850 crore have been committed in the biogas sector during the Renewable Energy India (REI) Expo 2024, held from October 3-5 in Greater Noida, a top official of Indian Biogas Association (IBA) said. "The IBA has secured anticipated investment commitments totaling Rs 1,850 crore through joint ventures (JVs), MoUs, and letters of intent (LoIs) at the recently concluded Renewable Energy India (REI) Expo 2024, held from October 3 to 5 in Greater Noida," IBA Chairman Gaurav Kedia told PTI. Kedia said a total of 47 exhibitors representing 10 biogas producing nations took part in the REI Expo. These investments, set to be realised over 2-3 years, reflect strong international interest, particularly from countries such as Germany, Sweden, and the UK, he said. "We have signed MoUs (memorandum of understanding) worth over Rs 900 crore for joint ventures and received almost 50 LoIs (letter of intends) for establishing compressed biogas plants in India," Kedia said. Found

REC disburses loans worth Rs 90,955 cr from Apr-Sep, up 20% from yr ago

State-owned REC has disbursed loans worth Rs 90,955 crore during April-September FY25, up 20.10 per cent from the year-ago period. Of the total amount, Rs 11,297 crore was green loan, 92.68 per cent higher year-on-year, the company said in a statement. In the September quarter of FY25, REC said it disbursed Rs 47,303 crore loans, 13.71 per cent higher than the Rs 41,598 crore disbursed a year earlier. Of this, renewable energy loans aggregated to Rs 5,946 crore, up 37.35 per cent YoY. Renewable energy loans accounted for 13 per cent of the total disbursals in the July-September period in FY25 as against 10 per cent in the year-ago period. REC, under the Ministry of Power, is a non-banking financial company focusing on power sector financing in India.

Jakson Green nears $476 mn fundraise for renewables capacity expansion

A growing number of Indian companies are expanding their renewable energy capacity and raising funds as the government aims to add at least 500 GW of clean energy by 2030 to reduce emissions

CEOs Insights: Damian Miller on Solar Power and Leadership in India

Join Damian Miller, Co-founder & CEO of Orb Energy, as he explores the future of solar energy, industry challenges, and his leadership journey. Tune in for key insights!

EET Fuels secures $650 mn financing facilities for decarbonisation plans

EET Fuels, owner of UK's Stanlow oil refinery, on Thursday said it has secured USD 650 million in financing and trade credit financing facilities for its decarbonisation plans. "This demonstrates market confidence in the company's decarbonisation strategy," the firm said in a statement. Essar Energy Transition (EET) Fuels is setting a new global benchmark for industrial decarbonisation, becoming the first low carbon process refinery as it will reduce emissions by 95 per cent by the close of the decade. Industrial carbon capture and use of blue hydrogen are at the heart of the company's strategy. The facilities secured to support this strategy include USD 150 million from ABN AMRO Bank, extension and upsizing HCOB and UMTB facility to USD 200 million for receivable financing, and a trade credit financing for USD 300 million with an international oil company. The firm did not reveal details such as coupon rate and tenure. "EET Fuels' continuing operational improvement and delivery o