Page 22 - Renewable Energy

Stock market positive on Thermax despite profit margin decline in Q1

The industrial products segment is poised for double-digit growth driven by solutions for water treatment and air pollution

Sunkind Energy secures 20 MW solar projects in Punjab, Maharashtra

Clean energy company Sunkind Energy on Monday said it has secured new solar power projects totalling around 20 megawatts (MW). The contracts have been awarded by Nahar Group and Jindal Group, the company said in a statement. For Nahar Group, the company said it will set up a capacity of 7.3 MW in Ludhiana, Punjab, for captive purposes and a 19.6 MW captive solar project for Jindal Group in Nashik, Maharashtra. Both projects will be set up in engineering, procurement and construction (EPC) mode. The company aims to complete these contracts by September 2024, Sunkind Energy founder and CEO Hanish Gupta said. The company did not provide any financial details of the project. As per industry estimates, 1 MW of solar projects involves an investment of around Rs 5-7 crore, including land cost. Gurugram-based Sunkind Energy is a leading EPC solar company in the country, having a total orderbook of 52 MW solar projects under various stages of implementation.

Electricity: A strategic view

Heavy lifting is now required in electricity and financial reforms

Despite new coal plants, India will face more power cuts by 2027: Research

India's power crisis: To avert a looming power shortage, India must accelerate efforts to boost renewable energy capacity, warns new research

Hitachi Energy India Q1 results: Net profit jumps four-times to Rs 10.4 cr

Hitachi Energy India on Wednesday posted four-fold jump in net profit to Rs 10.4 crore for June quarter FY25 mainly due to higher revenues. The company had reported a net profit of Rs 2.4 crore for the year-ago period, it said in a BSE filing. Revenues rose to Rs 1,327.3 crore from Rs 1,043 crore. "As the energy transition gathers pace, investments in the power sector - especially renewables continued to grow," said N Venu, MD & CEO of Hitachi Energy India. This is reflected in the company's strong order intake and record order backlog which it is steadily converting to revenues through solid execution while keeping a close watch on costs. "We are optimistic on ongoing market support, especially in our identified high growth segments - renewables, HVDC, data centers, electrification of transport, etc," he added. In June quarter, orders totalled Rs 2,436.7 crore, more than double as compared to the year-ago period. Renewables led the charge from studies across utilities and ...

Renewable energy sector to get Rs 30.5 trn investments by 2030: Eco Survey

Mobilization of finance as well as investment on competitive terms and resolution of land acquisition issues are necessary for realising Rs 30.5 lakh crore investment required for meeting the target of having 500GW renewable energy in India by 2030, according to the Economic Survey. The Economic Survey 2023-24 tabled in Parliament on Monday the Renewable Energy (RE) sector is expected to attract investments of about Rs 30.5 lakh crore in India between 2024 and 2030. According to the Survey, this would create significant economic opportunities across the value chain. The clean energy sector in India saw new investments of Rs 8.5 lakh crore (USD 102.4 billion) between 2014 and 2023, it said, adding that the RE sector received about USD 17.88 billion as FDI from April 2000 until March 2024. On mobilization of necessary finance and investments on competitive terms for the RE sector, the Survey pointed towards gearing up the banking sector for arranging finances for larger deployment ..

How 'islands of energy' could help Israel build wartime resilience

Israel's energy transition plan has been in the works for years but took on greater urgency when war broke out on several fronts

Centre plans to push for more renewable energy connectivity in states

As more transmission projects come at the intra-state level, the Centre is hoping it will bolster private investment in state power infrastructure

SECI plans 500 MW solar thermal capacity tender by FY25-end: CMD

SECI, a nodal agency for implementing government's renewable energy projects, is expected to float a tender for 500 megawatt (MW) of solar thermal capacity by the end of FY25, its Chairman and Managing Director R P Gupta said on Wednesday. This will be the first time in India that such a tender would be floated on this scale, Gupta told reporters on the sidelines of the India Energy Storage Week 2024, organised by India Energy Storage Alliance (IESA) here. "The tender is expected to be out by the end of this financial year 2024-25. There have been (solar thermal) tenders but not of this scale," Gupta said in reply to a question on new solar thermal tenders. The earlier tenders were small in size and their costs were also too high, he said. The projects under the 500-MW tender will have advanced technology where steam would be generated through heat and it would also help in running turbines, he added. Besides, the prices will be at par with other Round the Clock (RTC) solutions, G

Reliance Industries set to invest $60 bn in 10 years: Morgan Stanley report

India cos announce large investments in renewables, energy transition

The complexity of green transition

Inaction on generating new revenue as fossil fuel taxes dry up will harm India's economic prospects

Ireda loan grows to Rs 9,136 cr in April-June; disbursements rose by 67.6%

Public sector non-banking financial company IREDA on Monday said it posted manifold growth in its sanctioned loan to Rs 9,136 crore during April-June FY25. Loan disbursements also rose 67.61 per cent to Rs 5,320 crore in the period under review from Rs 3,174 crore in the year-ago period. The total loan book outstanding as of June 30, 2024 was at Rs 63,150 crore, up 33.77 per cent over Rs 47,207 crore in April-June FY24, IREDA said in a statement. Pradip Kumar Das, CMD, IREDA, said: "The first quarter underscores our commitment to accelerating the deployment of renewable energy solutions in India. The substantial increase in loan sanctions and disbursements reflects our proactive approach in supporting projects that contribute to India's renewable energy goals." Indian Renewable Energy Development Agency (IREDA), under the Ministry of New and Renewable Energy, has been engaged in promoting, developing and extending financial assistance for setting up projects related to new and ...

China stops providing data that showed dip in renewable power plant usage

The report did not give a reason for the change and China's energy administration did not immediately respond to a request for comment

Odisha okays investment proposal worth Rs 903 cr in renewable energy sector

The Odisha government on Thursday approved investment proposals worth Rs 903.41 crore in the renewable energy (RE) sector, according to an official statement. The single window committee (SWC) of the Energy Department led by Principal Secretary Vishal Kumar Dev cleared the investment proposals with an aim to meet the state's RE target of 10 GW by 2030. The panel approved the proposal of HPCL Renewable & Green Energy Ltd to set up a 48-MW wind energy project at Umerkote in Nabarangpur district, while ONGC Tripura Power Company Ltd got the go-ahead to develop a 49.5-MW wind energy project in Astaranga in Puri district, the statement said. The total investment for these two wind energy projects stands at Rs 881.28 crore, it said. Till date, the SWC of Energy Department has approved investment proposals totaling Rs 3,723.57 crore with 499.48-MW capacity in the sector.

Nxtra commits to get 100% energy for data centre from renewable sources

Airtel's data centre arm Nxtra has joined the RE100 initiative, a flagship global initiative led by Climate Group in partnership with Carbon Disclosure Project, and has committed to sourcing 100 per cent renewable electricity, the company said on Thursday. Nxtra has the largest network of data centres in India with 12 large and 120 edge data centres across the country. "We are an environmentally responsible brand and have been increasingly adopting clean energy alternatives. We are on a healthy trajectory towards achieving our net-zero goals of 2031 and are happy to become a part of the RE100 initiative with a commitment to 100 per cent renewable electricity," Nxtra by Airtel, CEO, Ashish Arora said in a statement. According to the statement, Nxtra has become the only data centre organisation in India to have pledged to RE100 and the 14th Indian company to achieve this milestone. The company claims to have increased its renewable energy use and has contracted 422,000 MWh renewable

'Tata Power Renewable Energy accepts bids for multiple-tenor bonds'

The issuer will pay a coupon of 7.93 per cent on both the bond issues and had invited bids for the same earlier in the day

JSW Steel USA to invest $110 mn to modernise plate mill in Baytown, Texas

JSW Steel on Tuesday said its subsidiary JSW Steel USA plans to invest USD 110 million to modernise its steel plate mill in Baytown, Texas with new equipment and sustainable technology. These investments will enable the production of high-quality monopile steel plates to support the US administration's new actions to expand offshore wind energy by deploying 30 gigawatts (GW) of offshore wind by 2030, enough to power 10 million homes with clean energy, the company said. "JSW Steel USA, Inc plans to invest USD 110 million in steel plate mill modernization projects with sustainable technology and state of the art equipment within its manufacturing facilities in Baytown, Texas," JSW Steel said in a statement. Steel products made through this investment are aligned with "Buy America" requirements for niche grades and sophisticated applications such as hydrocarbon pipelines, offshore wind towers and platforms, high-density pressure vessels and monopile steel slabs, JSW Steel said. Parth

Key infrastructure sectors, realty may attract Rs 15 trillion by FY26

The Centre has changed a number of clauses in its model concession agreement to ease the market's woes, but it remains to be seen whether these will be appreciated by the sector

Tata Power Renewable Energy deploys more than 850 e-bus charging points

Tata Power Renewable Energy Ltd (TPREL) on Wednesday said it has deployed more than 850 e-bus charging points at various locations in the country. The robust bus charging network has led to more than 1 lakh tonnes of tailpipe CO2 emissions savings, the company said in a statement The locations include Delhi, Mumbai, Ahmedabad, Bengaluru, Jammu, Srinagar, Dharwad, Lucknow, and Goa, the statement said. **** Mamaearth partners with Reliance Retail * Mamaearth, a personal care brand owned by Honasa Consumer, has partnered with the country's leading retailer Reliance Retail. This would make its range of products available at over 1,000 Smart Bazaar/ Smart Point stores across the country, the company said in a statement. Honasa Consumer Co-founder and CEO Varun Alagh said, "The partnership with Reliance Retail is also an extension of our endeavour to make products accessible to a wider set of consumers. We are 1,000 stores strong now and with the increasing demand for Mamaearth produ

Investment of $190-215 bn needed for India's 500 GW RE capacity: Moody's

Investments of USD 190-215 billion will be needed to achieve the target of 500 gigawatt (GW) of renewable energy capacity by 2030 in India, Moody's Ratings said on Wednesday. India's infrastructure companies will be spending on energy transition to meet demand resulting from the country's relatively strong economic growth. However, government policies and stable regulatory frameworks will support credit quality, Moody's said in a statement. Moody's also estimates that another USD 150-170 billion of investment will be required for electricity transmission and distribution as well as energy storage. "We expect the strong growth in India's renewable energy capacity to continue, although coal will remain a major source of electricity generation over the next 8-10 years," Abhishek Tyagi, Moody's Vice President and Senior Credit Officer said.