Page 16 - Renewable Energy

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

Sumitomo to invest $710 million to build renewable energy projects in India

Sumitomo to invest JPY 100 billion to build renewable energy projects in India

Govt prioritising charging infra for e-mobility growth: HD Kumaraswamy

Kumaraswamy urged the industry to collaborate and put forth dedicated efforts to help India achieve its sustainability goals while staying on track for growth

Scaling RE beyond 1,500 GW to face significant challenges, says study

India needs to install around 7,000 gigawatts (GW) of renewable energy capacity to achieve net-zero emissions by 2070 but deployment beyond 1,500 GW could face critical challenges, including climate risks, high land prices, land conflicts, and population density, according to a new study. The study by independent think tank Council on Energy, Environment and Water (CEEW) is the first of its kind to map India's renewable energy and green hydrogen potential by analysing the entire country's landmass and applying real-world constraints. India has a renewable energy (RE) potential of over 24,000 GW and around 7,000 GW of installed capacity is required to achieve net-zero emissions by 2070. The fast-developing South Asian nation currently has an installed RE capacity of 150 GW, and the study says that the constraints are relatively manageable up to 1,500 GW. Arunabha Ghosh, the CEO of CEEW, said, While our RE potential is vast, the road to net zero is fraught with challenges. From land

Circularity of critical minerals for India's clean energy transition

The clean energy sector offers significant opportunities for the Indian economy

Need Rs 30 trn investment for 500 GW renewables by 2030: Minister Joshi

Union New & Renewable Energy Minister Pralhad Joshi on Monday said as much as Rs 30 lakh crore is required to meet the target of 500 GW by 2030. He also announced that Prime Minister Narendra Modi will inaugurate the 4th RE-INVEST 2024, a global summit for renewables. The fourth edition of the Global Renewable Energy Investors Meet & Expo(RE-INVEST) 2024 is scheduled from September 16 to 18 at Mahatma Mandir Convention & Exhibition Centre in Gandhinagar, Joshi told reporters in a curtain raiser press conference here. He said that India requires Rs 30 lakh crore investment to meet the ambitious target of having 500 GW of renewable energy by 2030. Earlier three RE-INVEST conferences were organised, including one in virtual mode and two in Delhi, he added. This is the first RE-INVEST to be held in Gujarat. "We thought that Gujarat is the right place to organise the conference to achieve the 500 GW renewable energy target by 2030," he said, citing the example of Vibrant ...

Tata Power arm starts commercial production at 2GW Tirunelveli unit

The facility is equipped with advanced TOPCon and Mono PERC technology, enabling high-efficiency production of solar cells and modules

ISA partners with MIGA to fund Solar Energy projects in Sub-Saharan Africa

MIGA and ISA will work together to launch solar power and distributed energy projects in eligible developing countries

Renewables expansion threatened by poor weather data: Industry leaders

As it strives to reduce the carbon intensity of its economy, India will need to increase the share of renewables in its coal-heavy energy basket, but it is already facing constraints

Ireda plans to raise around Rs 29,500 crore in debt, equity in FY25

The Indian Renewable Energy Development Agency (IREDA) plans to raise around Rs 25,000 crore from the debt market and around Rs 4,500 crore through equity in the current fiscal, a top company official said on Monday. The company's chairman and managing director Pradeep Kumar Das also said that IREDA had submitted a draft Green Taxonomy to the Ministry of New & Renewable Energy (MNRE) one and a half years back and that it is at quite an advanced stage. "First, we are seeking the government's approval for allowing natural dilution of their stake down by up to 10 per cent. The government will take a final call on that," Das said during the CII Financing Summit 3.0 here. Stating that the company is confident because the kind of equity requirement it needs and what the sector expects from it, he said, "We have initially estimated Rs 4,500 crore by January-February in order to ensure that we have a fair amount of loan book as well as capital adequacy ratio which is very important." He .

Reliance to commission first solar giga-factory this year: Mukesh Ambani

Reliance Industries Ltd, India's most valuable company, plans to commission its first solar giga-factory this year as part of a pivot towards green energy, its chairman Mukesh Ambani said on Thursday. The solar giga factory will include the manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. Addressing the annual shareholders meeting, he said the first train of 20GW solar PV (photovoltaic) manufacturing "will commence production" by the end of this year. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and the first 50 MWh a year lithium battery cells pilot in 2026. Reliance, in 2021, announced plans to invest USD 10 billion over three years to develop a new fuels business based on 100 GW of renewable power capacity by 2030. The plan involves setting up four giga factories for manufacturing renewable equipment, battery storage, fuel cells and hydrog

Gensol Engineering sets up US subsidiary, to supply 2,000 MW solar trackers

Homegrown Gensol Engineering on Wednesday said it has set up a subsidiary in the US with an aim to supply over 2,000 MW solar trackers annually by 2028 to key renewable energy markets. The first US office of the newly formed arm Scorpius Trackers Inc will be located in California, positioning the company at the heart of one of the most dynamic renewable energy markets globally, Gensol Engineering said in a statement. "Gensol Engineering announces entry into the US market with Scorpius Trackers Inc. With a goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc aims to capitalise on its decade-long experience," the company said. It has over 1,000 MW of contracted orders across key markets including India, Africa, Japan, and the Middle East, it said. The US solar tracker market, which is the largest in the world deploys trackers aggregating over 25,000 MW annually. The US tracker market is growing at a robust compound annual growth rate (CAGR) of more than 20 per cent,

Vedanta to establish two not-for-profit industrial parks: Anil Agarwal

Industrialist Anil Agarwal states that an industrial park can greatly increase the competitiveness of manufacturing while bringing down the cost of transporting raw material

Indian Railways pacing towards net zero emissions, says Railway Board

Indian Railways is rapidly progressing towards its goal of achieving net zero carbon emissions by 2030, the Railway Board said on Tuesday. According to the Board, it is making efforts to grant net zero status to Railway premises across the country with a focus on meeting Railways' energy needs entirely through renewable energy sources. "The Northeast Frontier Railway zone of Indian Railways has achieved a significant milestone by converting its buildings to net zero carbon emission structures. "The Bureau of Energy Efficiency (BEE), under the Ministry of Power, has honoured six different buildings of the zone with the 'Shunya Label' recognition as Net Zero Energy Buildings," the Board said in a statement. It added, "Over the past decade, from 2014 to 2024, there has been a significant increase in renewable energy production capacity." As of June 30, 2024, Indian Railways' solar energy production capacity has exceeded 238 MW, and wind energy production capacity has surpassed 103 MW

ReNew signs clean power sale agreement worth 437.6 MW with Microsoft

ReNew on Tuesday announced the signing of a clean power sale contract of 437.6 megawatt (MW) with Microsoft. The contract is expected to generate over one million units of green electricity attributes annually, contributing to Microsoft's aim to become carbon negative by 2030, ReNew said in a statement. "ReNew today announced the signing of a green attribute sale contract of 437.6 MW with Microsoft," it said. ReNew will direct about USD 15 million of revenue from the contract towards a community fund to support environment-focussed initiatives. This work will be delivered in partnership with the ReNew Foundation, the philanthropic arm of ReNew, which works to create sustainable communities through climate action with a focus on women and youth and whose efforts are aligned with Microsoft's Environmental Justice priorities. Puneet Chandok, President, Microsoft India & South Asia, said, "This agreement with ReNew accelerates our progress towards these goals while benefiting local ..

BC Jindal Group lines up green energy foray with $2.5 bn investment

Founded in 1952, the B C Jindal group is engaged in the manufacturing of steel pipes and pipe fittings

Andhra to unveil integrated renewable energy policy, courts investors

The policy will cover solar, wind, hybrid energy storage, green hydrogen and its derivatives, biofuels, and electric vehicle charging infrastructure

JK Tyre to invest Rs 1.32 cr to acquire 26% stake in solar energy venture

JK Tyre and Industries is set to invest Rs 1.32 crore for 26% stake in solar power firm Truere Galaxy, that was incorporate less than five months ago

Hi-Tech Pipes bags Rs 100 cr pipe supply order; plans to raise Rs 600 cr

Hi-Tech Pipes on Tuesday said it bagged orders worth Rs 105 crore for supply of electric resistance welded steel pipes from customers in the renewable energy sector. The company also announced a plan to raise up to Rs 600 crore through issuance of equities. The supply orders will be executed from its new manufacturing facility located in Sanand, Gujarat over the next three months, the steel pipes maker said in a statement. The orders for supplying ERW (electric resistance welded) steel pipes, totalling Rs 105 crore, came from key customers in the renewable energy sector, according to the statement. "The steel pipes will be utilized in various applications within the renewable energy sector, including wind farms, solar installations, and other green energy projects," it said. In a separate statement, the company said its board has approved a plan to raise up to Rs 600 crore though equity issues. The fund raising plan has been approved "by way of issue of equity shares or any other

Goa to be permanent venue for annual India Energy Week: CM Sawant

Goa Chief Minister Pramod Sawant on Thursday announced that the coastal state would serve as the permanent venue for the annual India Energy Week (IEW). Addressing the state on the occasion of 78th Independence Day, he said the Oil and Natural Gas Commission (ONGC) has decided to host the annual IEWs in Goa permanently. Sawant also said his government was dedicated to creating a bright future for the state in the fields of green economy and blue economy. While the term 'green economy' refers to the economic system that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development, 'blue economy' or the ocean economy, is a term used to describe the economic activities associated with the oceans and seas. "We have successfully conducted international events like Ironman, G20 and India Energy Week. ONGC has decided to host IEW permanently in Goa every year," he said. Hosting events like the IEW helps the state's economy, he said. The IEW .