Page 22 - Renewable Energy

Tata Power plans to boost renewable capacity fourfold by 2027: Report

Besides Gujarat, the company is tapping other Indian provinces with large potential for producing clean power

Suzlon Energy appoints Sairam Prasad as CEO of wholly-owned subsidiary SGSL

Suzlon Energy Ltd on Tuesday announced the appointment of Sairam Prasad as the CEO of its wholly-owned subsidiary Suzlon Global Services Limited (SGSL). His appointment is with effect from January 16, the company said in a regulatory filing. "Sairam Prasad has been appointed as the Chief Executive Officer of SGSL, a wholly-owned subsidiary of the company...and has been designated as one of the SMPs (senior managerial personnel) of the company," it said. The company further said Ishwar Chand Mangal, the existing Chief Executive Officer of SGSL and one of the SMPs of the company, will now act as CEO New Business reporting to the group chief executive officer. He has also been appointed as the non-executive director of SGSL with effect from February 1, 2024. Pune-based Suzlon Group is one of the leading renewable energy solutions providers in the world, with more than 20 GW of wind energy capacity installed across 17 countries.

Rajasthan CM Sharma flags power companies' debt burden of Rs 90,000 cr

Rajasthan Chief Minister Bhajan Lal Sharma on Monday said power companies in the state have a debt of about 90,000 crore and a large portion of the budget is going towards repaying this debt. He said the state has immense natural resources in the field of renewable energy. "With proper policy formulation and implementation in this area, the Energy Department can generate resources and employment on a large scale for the development and bright future of the state," Sharma said. He said self-reliance in energy production is very important to provide relief to the common people through various public welfare schemes. Sharma was addressing the review meeting of the Energy Department at the Chief Minister's Office on Monday. He directed the officials to prepare a road map for the future keeping in mind the energy needs of the state. The focus of the department should be on giving real and concrete results instead of manipulation of data, he said. The chief minister said it should be .

Sunsure Energy commits Rs 3,150 cr investment in Tamil Nadu over 3 years

Sunsure Energy has pledged an investment of Rs 3,150 crore in renewable energy projects in Tamil Nadu in the next three years. As part of the memorandum of understanding with the state government, it will set up four renewable energy projects with a combined capacity of 500 Megawatt (MW), the company said in a statement on Monday. "Sunsure Energy signs MoU with Tamil Nadu for Rs 3,150 crore investment in the state's renewable energy capacity over the next 3 years. The agreement is aimed at bolstering Tamil Nadu's renewable energy capacity through four greenfield projects with a combined capacity of 500 MW," it said. The projects will be set up at various locations, including Tuticorin & Tirunelveli, Theni, and Tiruchirappalli, the company said. The projects have the potential to create more than 1,200 jobs in the state. The company intends to develop three solar power plants with capacities of 100 MW each and a wind power plant with capacities of 200 MW strategically positioned ..

ReNew inks pact to sell 300 MW solar project to IndiGrid for $199 mn

Decarbonisation solutions firm ReNew on Monday said it has inked an agreement to sell a 300 MW solar project to India Grid Trust for USD 199 million. The transaction is likely to close in accordance with PPA (power purchase agreement) conditions, a company statement said. Approximately USD 8 million is expected to be additionally received as an earn-out on account of change-in-law proceeds after the first payment is realised by RSUPL (ReNew Solar Urja Private Limited). According to the statement, ReNew has signed a share purchase agreement with India Grid Trust to sell a 300 MW solar project in Rajasthan ReNew Solar Urja Private Limited - for a total enterprise value of USD 199 million. The sale reaffirms strong investor interest in assets developed by ReNew and is aligned with the company's strategy to enhance shareholder value through capital recycling and investment into higher-return opportunities, it added. After the transfer of the outstanding debt to the buyer, the transac

Envision Energy to supply 100 turbines for 300 MW wind project in Karnataka

Envision Energy on Monday said it will supply around 100 turbines of 3.3 MW for a 300-MW offshore wind project coming up in Karnataka. The project will be set up by investment fund Copenhagen Infrastructure Partners (CIP) for Viviid Renewables (Viviid) in the southern state under a partnership, Envision Energy said. "CIP has signed a turbine supply agreement for the EN 156 3.3 MW turbines with Envision Wind Power Technologies India. Viviid will provide balance-of-plant works and services and hold minority ownership in the project," it said. In the statement, Envision Energy did not disclose any financial information with respect to the project. Envision will supply turbines in the range of 95-100 for the project expected to be completed by end of 2025. "We look forward to continuing the successful collaboration and realizing these projects which contribute to local growth and job creation while delivering attractive returns for our fund investors," Peter Sjntoft, Associate Partner

Gail signs deal with Vitol to secure 1 mn MT of LNG annually for 10 years

The deal is significant as it is the first of a series of agreements being pursued by Gail to diversify its imports beyond Qatar, aiming to avoid disruption in supplies

Power Grid Corp bags transmission project for Rajasthan's 20 GW energy zone

State-owned Power Grid Corporation has bagged an inter-state power transmission project for evacuating power from a 20 GW renewable energy zone in Rajasthan. The scope of the project comprises the establishment of two 765kV D/C transmission lines traversing in Rajasthan and Delhi, along with associated bay extension works at existing substations located in Rajasthan and Delhi, a regulatory filing said. According to the filing, Power Grid Corporation has been declared as a successful bidder under Tariff Based Competitive Bidding to establish an Inter-State Transmission System for "Transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part D Phase I" on build, own operate and transfer (BOOT) basis. The Letter of Intent (LoI) issued on December 29, 2023, has been received by Power Grid Corporation on January 1, 2024, it said.

India to build 2 billion-tonne coal stock by 2030, then hit pause button

According to the projections of the Ministry of Coal, the demand for coal will be close to 1.5-1.8 bt by 2030

Adani Energy Solutions bags Halvad Transmission project in Gujarat

Adani Energy Solutions also said that its arm, Adani Transmission Step-Four, will form a joint venture with UAE-based Esyasoft Holdings to implement smart metering projects

Adani Green completes joint venture agreement with TotalEnergies Renewables

TotalEnergies has also infused Rs 4,013 crore in Adani Green Energy Twenty-Three Limited

CRISIL analysis: India powering ahead on renewable energy targets

In generation terms, this would mean a 46 per cent penetration for renewable fuels

After recording all-time high, global coal demand to decline by 2026: IEA

After reaching an all-time high this year, global coal demand is expected to decline by 2026 due to a major expansion of renewables, according to the latest edition of the International Energy Agency's (IEA) annual coal market report. This is the first time that the report has predicted a drop in global coal consumption. Around 40 per cent of global carbon dioxide emissions stem from coal, while oil and gas contribute to the remaining percentage. The report says global demand for coal rose by 1.4 per cent in 2023, mainly due to rising energy demand in emerging and developing economies, including India (8 per cent) and China (5 per cent). Consumption is on course to decline in most advanced economies in 2023, including in the European Union and the United States (around 20 per cent each), it said. Both the US and the EU rely more on oil and natural gas. For instance, oil and natural gas accounted for 36 per cent and 33 per cent of the total energy production in the US in 2022. The

Sterling and Wilson Renewable Energy raises Rs 1,500 crore through QIIs

Sterling and Wilson Renewable Energy has raised Rs 1,500 crore through an issue of shares to qualified institutional investors, the company said in a statement. The Securities Issuance Committee of Board of Directors at its meeting held on December 14 approved the issue and allotment of 4,32,27,665 equity shares to eligible qualified institutional buyers at the issue price of Rs 347 per equity share. Sterling and Wilson Renewable Energy Ltd said that the Rs 1,500 crore Qualified Institutions placement (QIP) issue witnessed a strong response from both domestic mutual funds and marquee global FIIs. Amit Jain, Global CEO, Sterling and Wilson Renewable Energy said, Last couple of months have been challenging for us as an organization and the successful completion of the QIP is a significant moment in our journey." Bulk of the proceeds from the QIP will be used to pare down debt furthermore providing us capital to pursue the fast-growing solar EPC markets in India and abroad, Jain ...

Sterling and Wilson Renewable Energy raises Rs 1,500 crore through QIP

Proceeds will be used to reduce debt and capitalise on the solar engineering, procurement, and construction (EPC) markets in India and overseas

Union Minister RK Singh targets 43% reduction of emissions by 2030

While highlighting the crucial discussions held during the recently concluded COP28, Singh underscored that per capita emissions in India are among the lowest globally

Ontario Teachers' to acquire 30% stake in Mahindra Susten for Rs 2,371 cr

The companies will also establish an Infrastructure Investment Trust (InvIT) comprising renewable power assets of Mahindra Susten with an operation capacity of 1.54 GWp

Singapore's Sembcorp renewables' unit gets 300 MW solar project from NHPC

The project will be funded by internal funds and debt, and is expected to be ready for commercial operation in 2026, the energy and urban solutions provider said

UN COP28: Delegates sign deal to 'transition away' from fossil fuels

Negotiators at United Nations COP28 climate talks agreed on Wednesday that the world must transition away from planet-warming fossil fuels, a significant step toward shifting how the world is powered but one filled with questions about how soon and who will pay for the transition. COP28 President Sultan al-Jaber gaveled through the text at a plenary session in Dubai after more than two weeks of discussions that saw nations try and figure out a way for the world to stay in line with limiting warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) since pre-industrial times. Countries were split between those wanting strong language on a phase-out of fossil fuels and others who wanted some way to continue burning oil, gas and coal. The new compromise had been floated early Wednesday after a global rallying cry stronger than proposed days earlier, but with loopholes that upset critics. The new proposal doesn't go so far as to seek a phase-out of fossil fuels, which more than 100 natio

Adani Electricity to provide 60% of renewable electricity to Mumbai by 2027

Adani Electricity supplied 100% renewable energy to its 3 million subscribers in Mumbai for 4 hours on Diwali