Page 25 - Renewable Energy

India's FY24 power demand to rise 7% amid strong industrial activity: Fitch

Fitch stated that the receivable position of generation companies (gencos) will continue improving in the near term

SJVN inks pact with Solar Energy Corporation to supply 200 mw wind power

State-owned power producer SJVN Ltd on Thursday said it has signed a pact with Solar Energy Corporation of India to supply 200 MW of wind power. The power producer has signed a power purchase agreement (PPA) for a 200 MW grid-connected wind power project with Solar Energy Corporation of India Ltd (SECI), SJVN Chairman & Managing Director Nand Lal Sharma said in a statement. Sharma informed that SJVN Green Energy Ltd (SGEL) -- its wholly-owned subsidiary -- had participated in the tariff-based competitive bidding process conducted by SECI for the selection of wind power developers for setting up 1,200 MW grid-connected wind power projects anywhere in India. SGEL bagged 200 mw at a tariff of Rs 3.24 per unit on a build-own and operate (BOO) basis in an open competitive tariff bidding process. He further said the 200 MW wind project will be developed by SGEL anywhere in India through an EPC contract. With the allotment of this project, the wind portfolio of SJVN now stands at 497.6 .

Coal plants capacity utilisation will improve to 65% this fiscal: CRISIL

Coal-based thermal power units' plant load factor (PLF) or capacity utilisation will improve to 65 per cent in the current fiscal year despite record renewable energy capacity addition, according to Crisil Ratings. "Healthy PLFs along with lower receivables and encouraging fuel supply will support the credit profiles of private coal-based generating companies (gencos)," Crisil Ratings said in a statement. The PLFs of coal-based power plants in India will improve to 65 per cent this fiscal despite record renewable energy (RE) capacity addition, it added. Over the past two fiscals, electricity demand witnessed a robust 8-9 per cent annual growth, driven by the post-pandemic economic rebound, the agency noted. During this period, 34 gigawatts (GW) of capacity has been added, with 90 per cent of it in RE, the statement said. In GW terms, this is a 9 per cent growth in power capacities, but on normative terms this was only 4-5 per cent growth as capacities operate at varying PLFs, and

Rooftop solar potential could be critical to energy transition in India

Over 25 crore households across India have the potential to deploy 637 GW of solar energy capacity on rooftops, according to a new independent report by the Council on Energy, Environment and Water (CEEW) released on Thursday. The CEEW report said that deploying just one-third of this total solar technical potential could support the entire electricity demand of India's residential sector (about 310 TWh). However, the technical potential reduces to one-fifth (118 GW) after factoring in the current electricity consumption of households. "Most residential consumers fall into low-consumption slabs and solar may not be economically feasible for them without financial support even though it is technically possible. "The potential reduces further to 11 GW when no capital subsidy is considered, the payback period for rooftop solar is restricted to five years and we factor in consumers' willingness to buy rooftop solar," the report said. Currently, India has installed 11 GW of rooftop sol

Suzlon's S1443 MW series of wind turbines get RLMM listing by MNRE

Renewable energy solution provider Suzlon Group on Wednesday announced the listing of its S144 3 MW series of wind turbines in the Ministry of New & Renewable Energy's 'Revised List of Models & Manufacturers' (RLMM). "This is an important milestone required for successful commercialisation of the product," the company said in a statement. The company announced the RLMM listing of its S144 3 MW series of wind turbines, which are extendable to 3.15 MW, it added. Suzlon has already installed the first prototype of this series at a hub height of 160m with a Hybrid Lattice Tubular (HLT) tower at the Gondal site in Gujarat. Currently, the product is in the process of serial manufacturing and commercialisation, it added. Suzlon Group Chief Executive Officer JP Chalasani said, "This listing comes at the right time after our S144 product received an enthusiastic response from the market, evident from the strong order inflow". Considering India's varied wind regimes and terrains, the .

Asian economies must ramp up wind and solar power: Report on global warming

To meet the goal of limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit), nine major Asian economies must increase the share of electricity they get from renewable energy from the current 6% to at least 50% by 2030, according to a report by a German thinktank released Wednesday. Nearly a third of that renewable energy should come from wind and solar power, said the report by researchers of Berlin-based Agora Energiewende. A fifth would be hydropower and other clean sources and the remainder, fossil fuels. The study analysed energy plans of both developing nations like Indonesia and Vietnam, where demand for energy is growing rapidly, and wealthier places like Japan and South Korea, which have among the highest burdens of per capita greenhouse gas emissions. It did not include China, the world's biggest emitter of carbon, or India, another major contributor. A global temperature increase of 1.5C (2.7F) since pre-industrial times is considered a critical climate ...

Asian economies must ramp up solar power to keep global warming under 1.5C

To meet the goal of limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit), nine major Asian economies must increase the share of electricity they get from renewable energy from the current 6% to at least 50% by 2030, according to a report by a German thinktank released Wednesday. Nearly a third of that renewable energy should come from wind and solar power, said the report by researchers of Berlin-based Agora Energiewende. A fifth would be hydropower and other clean sources and the remainder, fossil fuels. The study analyzed energy plans of both developing nations like Indonesia and Vietnam where demand for energy is growing rapidly, and wealthier places like Japan and South Korea, which have among the highest burdens of per capita greenhouse gas emissions. It did not include China, the world's biggest emitter of carbon, or India, another major contributor. A global temperature increase of 1.5C (2.7F) since pre-industrial times is considered a critical climate ...

THDCIL inks pacts to develop 3,270 MW renewable energy projects in K'taka

THDC India Ltd (THDCIL) is planning to set up 3,270 megawatts (MWs) of clean energy projects, including pumped storage and floating solar, in Karnataka, its chairman and managing director R K Vishnoi has said. In this regards, the Uttarakhand-based company on Thursday signed two memoranda of understandings with Karnataka Power Corporation Limited (KPCL) and Karnataka Renewable Energy Development Limited (KREDL) in Bengaluru. "These collaborative efforts encompass the development of a diverse range of projects, spanning ground-mounted, floating solar projects, and hybrid projects including pumped storage projects (PSPs) with a cumulative capacity of around 3,270 MW," Vishnoi said in a company statement. Gaurav Gupta, managing director of KPCL, and K P Rudrappaiah, MD of KREDL, signed the agreement with Bhupender Gupta, Director (Technical), THDCIL, in presence of K J George, Minister of Energy, Government of Karnataka. "This strategic alliance not only underscores THDCIL's commitmen

CESC net profit rises to Rs 363 crore in Sep qtr on higher revenues

CESC Ltd on Wednesday posted a nearly 14 per cent rise in its consolidated net profit to Rs 363 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the company was Rs 319 crore in the quarter ended September last year, according to a regulatory filing. Total income of the company rose to Rs 4,414 crore in the quarter from Rs 3,977 crore in the same period a year ago. The company's board of directors has also considered exploring the possibilities of substantial investments in renewable energy generation space (up to 3 gigawatt) through its subsidiaries in more than one state in India to increase the company's renewable footprint and partially meet the renewables purchase obligations of its distribution business, the filing said.

India, Bhutan agree to extend energy partnership to non-hydro renewables

The statement said that India and Bhutan enjoy long-standing and exceptional bilateral ties characterized by utmost trust, goodwill, and mutual understanding at all levels

12 Gw thermal power by next year to meet high demand, says R K Singh

Singh said most states agreed to enhance generation capacity - both conventional (coal) and renewable

Hinduja bags 250MW solar project in tariff-based competitive bidding

Hinduja Renewables on Monday said it has bagged a 250 MW solar project under a tariff-based competitive bidding by state-owned hydro power giant NHPC. "Hinduja Renewables was awarded by NHPC the tender for putting up a solar capacity of 250 MW at the tariff rate of Rs. 2.53/kWh," the Hinduja Group firm said in a statement. The consolidated project bid was for setting up a 3,000 MW Interstate Transmission System Connected Solar Power Projects anywhere in India. Hinduja Renewables was one of the eight bidders for the capacity. Sumit Pandey, the CEO of Hinduja Renewables, said, "With this winning bid, Hinduja Renewables would be able to reduce the carbon emissions equivalent of over 5,51,000 tons annually. Hinduja Renewables is well on its way to creating a multi-GW suite of renewables." Hinduja Renewables, part of the Hinduja Group, is an independent renewable power producer.

Indian Energy Exchange Q2 result: Net profit up over 21% to Rs 86 crore

Its consolidated net profit was Rs 71.20 crore in the quarter ended on September 30, 2022, a BSE filing showed

REC Q2 results: Profit soars by 39% to Rs 3,790 crore in Jul-Sep quarter

State-owned REC Ltd on Wednesday posted a nearly 39 per cent rise in its consolidated net profit to Rs 3,789.90 crore in the September quarter compared to the year-ago period mainly on the back of higher revenues. Consolidated net profit stood at Rs 2,732.12 crore in the quarter ended on September 30, 2022, a BSE filing showed. Total income rose to Rs 11,701.26 crore in the quarter from Rs 9,964.00 crore in the same period a year ago. The board also approved the second interim dividend of Rs 3.50 per equity share of Rs 10 each for 2023-24. The record date for the interim dividend is Monday, November 13, 2023. The interim dividend shall be paid on or before November 30, 2023. The total interim dividend for the 2023-24 is Rs 6.50 per equity share (on face value of Rs 10 each). In a separate statement, the company stated, "Owing to the improving asset quality, increase in lending rates and effective management of finance cost, the REC is able to record its highest ever (standalone) .

RE sources can meet 65% of world's power supply, 90% by 2050: R K Singh

Union Power and New & Renewable Energy Minister R K Singh on Tuesday said renewable energy sources can supply 65 per cent of the world's total electricity by 2030 and as much as 90 per cent by 2050. Addressing the inauguration of the Sixth Assembly of International Solar Alliance (ISA), Singh said "Renewable energy sources have the potential to supply 65 per cent of the world's total electricity by 2030 and decarbonise 90 per cent of the power sector by 2050." Currently, he informed that around 80 per cent of the global population resides in countries that depend on fossil fuel imports, totalling a staggering 6 billion people. Singh, who is also president of ISA, stated that the recent G20 Summit in New Delhi also underscored the urgent need for a transition to clean energy. Singh also invited all member countries, ISA Partner Organisations and other organisations present to partner with ISA in making it a catalyst for the transformative change. "Our vision in mind when the ISA ..

AESL commissions green evacuation transmission project in Tamil Nadu

Adani Energy Solutions Ltd has commissioned a 2500 MW green evacuation 400kV system in Tamil Nadu in line with India's decarbonisation efforts

Suzlon secures order for 3 MW series turbines from Juniper Green Energy

Under the terms of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including, the erection and commissioning

Gaza has oil markets on edge, could build more urgency to transition: IEA

Tensions from the war in Gaza could help accelerate the move away from planet-warming fossil fuels like oil and gas and toward renewable energy, electric cars and heat pumps similar to how sharp increases in the price of oil during the 1970s unleashed efforts to conserve fuel, the head of the International Energy Agency said. Today we are again facing a crisis in the Middle East that could once again shock oil markets," said IEA Executive Director Fatih Birol. That comes on top of the stress on energy markets from Russia's cutoff of natural gas to Europe over its invasion of Ukraine, he said. Put these two things together, and no one can convince me that oil and gas are safe and secure energy choices for countries or consumers, Birol told The Associated Press in an interview ahead of the publication Tuesday of the IEA's annual world energy outlook, which analyzes the global picture of energy supply and demand. This could further accelerate the energy transition around the world," .

Global solar projects set to win more than $380 bn investment this year

Investment is increasing in the global solar energy projects, and is expected to be more than USD 380 billion this year, the International Solar Alliance (ISA) Director General Dr Ajay Mathur has said. Mathur made these remarks on Monday on the sidelines of the Singapore International Energy Week. The good thing is that investment flow is increasing. It was about USD 310 billion for the whole of last year, and USD 235 billion investment has come in during the first half of this year, Dr Mathur told PTI. We expect it to be more than $380 billion this year. Elaborating on ISA work, he said, Our goal is that in every member country, we make solar the energy of choice. ISA will have 120 member countries by the end of this year, up from 116 currently. The challenge is to get investments for small solar plants to reach out to the remote regions as approximately 74 per cent of the investment so far has gone to large-scale projects in the OECD and China, Dr Mathur informed. All of Africa

IAEA calls on PM Modi, praises India's record as responsible nuclear power

Prime Minister Narendra Modi on Monday underscored India's enduring commitment to safe and secure use of atomic energy for peace and development in a meeting with International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi. Grossi, who called on Modi, commended the country's impeccable record as a responsible nuclear power and praised its progress in nuclear science and technology, particularly highlighting the development and deployment of indigenous nuclear power plants, the PMO said. In the meeting, Modi shared India's ambitious goals to enhance the share of environmentally friendly nuclear power generation capacity as part of its energy mix. Grossi, the statement said, acknowledged India's global leadership role in civil nuclear applications for societal benefits. This includes the remarkable progress that India has made in utilising nuclear technology to address the challenges faced by humankind including those related to health, food, water treatment, ...