Page 15 - Renewable Energy

Adani and Google announce collaboration to boost clean energy in India

Adani Group will supply renewable energy generated from a new solar-wind hybrid project located at Khavda, Gujarat, to Google from 2025

THDCIL to invest Rs 8,800 cr in pumped storage projects in Raj: CMD Vishnoi

State-owned THDCIL has signed an agreement with the Rajasthan government to set up 1,600 MW of pumped storage projects at an investment of Rs 8,800 crore. The Memorandum of understanding (MoU) aims for the development of two pumped storage projects (PSPs) of 800 MW each at Bisanpura in Bundi and another at Rampura Tonk, THDC India Ltd (THDCIL) said in a statement. A total of 1,600 MW capacity of PSPs will involve an investment of Rs 8,800 crore, THDCIL CMD R K Vishnoi said. "The Bisanpura PSP will source water from the Gudha Dam, while the Rampura PSP will utilize water from the existing Bisalpur reservoir. This strategic approach ensures a reliable supply while minimizing environmental impact, allowing both projects to contribute significantly to sustainable energy solutions through efficient energy storage, thereby enhancing grid stability," he said. The MoU was signed between THDCIL Director (Technical) Bhupender Gupta and Ajitabh Sharma, Principal Secretary, Industries & ...

REC raises $500 million via green bond to support renewable energy projects

State-owned REC Ltd on Saturday said it has raised USD 500 million through green dollar bonds to support various renewable energy projects. The 5-year note has a coupon rate of 4.75 per cent per annum to be paid semi-annually and the maturity date of September 27, 2029. This is the first US dollar bond issuance from an Indian public sector enterprise in 2024, REC said in a statement. The latest fund raise was part of USD 10 billion global medium-term programme of the company. The proceeds will be used to finance eligible green projects, in accordance with REC's Green Finance Framework as per green bond principles of Climate Bond Initiative, London and RBI's ECB guidelines, with a second-party opinion from Sustainable Fitch, it said. "The overwhelming demand for our green bonds, amidst a challenging global financial environment, reflects the established standing of India as a key player in the green finance market," said Vivek Kumar Dewangan, CMD of REC Ltd. The notes will be rated

India seeks 6K MW of peak renewable power supply with storage

India is looking to connect a record 35 gigawatts (GW) of solar and wind energy capacity to its grid

Thermal capacities needed till RE supply equals demand: Power minister

There is a need to continue with installation of new thermal capacities as the supply of green power is not in line with demand, Union Minister Manohar Lal said on Monday. He also said that any call on reducing installation of thermal capacities can only be taken after 2030. The union power minister made the remarks at an event to brief 100-day achievements of the Modi-3.0 government in the national capital. "Till the supply of renewable energy does not matches the demand, it seems necessary to increase the capacity of thermal plant in the country, and reduce its installation gradually. But till 2030-35, We have to take these (thermal projects) ahead," Lal said. The government is looking to set up an additional 80 GW coal-based capacity by 2031-32. According to Power Secretary Pankaj Agarwal, in 100 days of the present government, 12800 MW or 12.8 GW capacity has been awarded for construction, while 28 GW is under progress. The minister further said that the National Electricity

Over Rs 3 trn needed each year to reach 440 GW RE capacity by 2030: ICRA

An investment of over Rs 3 lakh crore is needed every year in the renewable energy sector to take India's installed green capacity to 440 gigawatt, Icra experts said on Friday. "We expect India to have 440 gigawatt installed capacity of renewable energy by 2030," Vikram V, Vice President & Co-Group Head - Corporate Ratings, ICRA Ltd said at a media roundtable. The estimated capacity would require incremental investment of at least Rs 3 lakh crore every year over the next five to six years, Girish Kumar Kadam, Group Head Corporate Sector Ratings at ICRA Ltd. He further said to meet the renewable purchase obligation (RPO) target of 43 per cent by 2030, the renewable energy capacity should more than double to 440 GW from the current level of 200 GW. The government's target is to have 500 gigawatt of installed renewable energy capacity by 2030. Sharing his outlook for the RE sector, Kadam said India has made significant progress in renewable energy capacity addition with a strong ...

SECI plans to launch IPO in 1 or 2 yrs to expand renewable energy capacity

State-owned Solar Energy Corporation of India (SECI) will go public to raise funds in next one or two year in order to expand renewable energy capacity in the country, said a top company official. The remark comes at a time when India aims to have 500 GW of renewable energy capacity by 2030. The 500 GW target is in the pipeline and it will be done, said SECI Chairman and Managing Director R P Gupta. "But we have to think beyond 2030. The power demand will be 2,000 GW by 2047," he said at a press conference here. India has 207 GW of renewable energy capacity and still needs to add at least 50 GW per annum every year till 2030 to achieve 500 GW target. "We would like to go public in next one or two years," Gupta said. The country's peak power demand has touched an all-time high of around 250 GW in May this year. SECI's listing on bourses is also important because it is the nodal agency of the Ministry of New & Renewable Energy for tendering renewable energy projects. Gupta said t

SJVN generates 8,489 MU of power as green energy in FY24: CMD Sharma

State-owned SJVN generated 8,489 million units (MUs) of green energy from its operational hydro, solar and wind power stations in 2023-24, a top company official said. SJVN CMD Sushil Sharma made the remarks at the company's 36th Annual General Meeting (AGM) for the 2023-24 financial year. "Despite facing challenging hydrological conditions due to climate change, SJVN demonstrated resilience in its operations. In FY24, the company generated 8,489 MUs from its operational hydro, solar and wind power stations," a company statement quoted Sharma as saying. The power stations set new records, including highest-ever daily generation of 39.570 million units (MU) and 10.971 MU by 1,500 MW NJHPS (Nathpa Jhakri Hydro Power Station) and 412 MW Rampur HPS, respectively, in July 2023. The highest-ever monthly generation of 1,590.072 MU was recorded from all operational projects in August 2023 and Rampur HPS also achieved the highest-ever monthly generation of 337.165 MU during the month. Duri

Tata Power to scale up internal renewable energy component supply chain

Plans to manufacture key parts rather than buying them

Tata Power Renewable Energy bags 400 MW wind-solar project from MSEDCL

Tata Power Renewable Energy on Wednesday said it has secured a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has successfully secured a Letter of Award (LoA) from MSEDCL, a wholly-owned entity under the Maharashtra government, for the development of a 400 MW wind-solar hybrid project in Maharashtra, a statement said. The company said that the LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW. This would be the largest renewable energy project in Maharashtra till date for TPREL. The LoA was issued through a competitive bidding process conducted via an electronically-based reverse auction portal. The project is expected to be completed within 24 months from the signing of the Power Purchase Agreement (PPA) between TPREL & MSEDCL and will play a crucial role in cutting carbon ..

Will talk to states to iron out challenges in RE sector: Pralhad Joshi

He said through his outreach, he would also amplify the two flagship schemes of MNRE - PM Suryaghar Yojana and PM-KUSUM - which require support of State governments' machinery

Infra lender REC signs renewable energy agreements worth $13.4 billion

REC is targetting to take its renewables loan book to over Rs 3 trillion by 2030, expanding the share of renewables to 30 per cent from 8 per cent currently

Tata Power to invest up to $9 bn to expand renewable energy capacity

Tata Power, which currently has 5 GW renewable energy capacity in large projects, will add another 5 GW capacity in the next one to two years and expand that to more than 20 GW by 2030

Avaada Group plans to invest Rs 5,000 cr in Madhya Pradesh's energy sector

Avaada Group focuses on the development of large-scale projects for solar modules, renewable energy production, green hydrogen

PMEA Solar submits papers to Sebi for Rs 600 cr IPO; 11.2 mn shares on sale

PMEA Solar IPO: The funds raised through the fresh issue will be allocated towards capital expenditure and debt repayment

Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre

RE project developers commit 570 GW of capacity addition

4th RE-Invest summit: 100-day work shows our priorities, says PM Modi

India best bet for 21st century, its solar revolution a golden chapter

PM Modi inaugurates 4th Global Renewable Energy Investor's Meet in Gandhinagar

Prime Minister Narendra Modi inaugurated 4th Global Renewable Energy Investor's Meet (RE-INVEST) 2024 in Gujarat's Gandhinagar district on Monday.

RPower secures 500 MW storage contract marking entry into renewable energy

Other bidders in the auction included Avaada Energy, ACME Cleantech, Gensol, and Indigrid, with the highest quoted tariff reaching Rs 4.9 lakh per MW per month

Torrent Power commits Rs 64,000 crore investment for green projects

Torrent Power on Monday pledged Rs 64,000 crore investment for green or renewable energy projects having employment potential for 26,000 people. Torrent Power Ltd, the integrated power utility of diversified Torrent Group, has reaffirmed its commitment towards green and sustainable future as it submitted two 'Shapath Patras' to the Union Ministry of New and Renewable Energy at the 4th Edition of RE-Invest at Gandhinagar on Monday, a company statement said. RE-INVEST is being organised by the Ministry of New and Renewable Energy in partnership with CII. According to the statement, the company has submitted a Shapath Patra' to achieve 10 Gigawatt (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of Rs 57,000 crore. This investment is expected to generate direct and indirect employment for around 25,000 people. As part of these commitments, Torrent Power on Monday signed a Memorandum of Understanding (MoU) with the Gujarat government for execution of a 5 GW