Page 25 - Renewable Energy

RSOLEC to invest $300 million into solar manufacturing venture in India

Renaissance Solar and Electronic Materials on Tuesday announced its solar manufacturing venture and a plan of USD 300 million investment in India. "Renaissance Solar and Electronic Materials (RSOLEC), an innovative solar enterprise with operations in India and the USA, today announced its official launch and establishment, accompanied by a significant planned investment of about USD 300 million," a company statement said. With global reach and expertise in differentiated solar and electronic materials manufacturing, RSOLEC is set to revolutionise the industry with a strategic focus on Solar Crystal Growth and Wafering, it stated. The launch of RSOLEC aligns with India's "Atmanirbhar Bharat" mission, showcasing the country's capabilities in the state-of-the-art solar value chain. The company's primary focus for the next five years will be on crystal growth and wafering in India, contributing significantly to the country's strategic solar manufacturing capacity, it stated. Over the

Solar and wind set to power two-thirds of India's growth by 2032: Analysis

Solar and wind energy are poised to drive two-thirds of India's power generation growth by 2032 if the nation successfully attains its renewable energy targets, according to a new analysis conducted by the global energy think tank Ember. Solar power in India has evolved significantly since 2017 when it accounted for only 1 per cent of the country's power mix. Should India meet its solar targets outlined in the 14th National Electricity Plan (NEP14), its share is expected to surge from 5 per cent to 25 per cent during the financial year 2022-2032, marking a period of rapid expansion. This suggests that India's power generation growth, which was predominantly coal-driven over the past decade, could shift toward solar and wind sources in the next ten years, provided that India stays on course to achieve its NEP14 objectives, as per Ember's analysis. Meanwhile, as India's adoption of solar energy broadens, there is an increasing demand for significantly greater storage capacity to manag

RE India Expo to bring investments worth Rs 1,500 cr in biogas segment: IBA

Industry body Indian Biogas Association (IBA) expects around Rs 1,500 crore investment announcement in the biogas segment during 3-day long Renewable Energy India Expo 2023, beginning on Tuesday. The IBA comprises operators, manufacturers, and planners of biogas plants. "Renewable Energy India Expo 2023 (REI) will bring an opportunity worth Rs 1,500 crore. The participation is expected to increase by 25 per cent from last year," an IBA statement said. According to the statement, major Indian conglomerates like Reliance Industries and Adani Solar will be part of the REI. The Ministry of New and Renewable Energy and National Institute of Bio Energy is supporting the biogas pavilion. The REI is scheduled to be held from October 4 to 6, 2023 at the India Expo Centre, Greater Noida, Uttar Pradesh. The expo is one of the largest trade expositions and events, focusing on renewable energy (bio-energy, solar, and wind) and energy efficient technologies including electric vehicles and bat

Tata Steel commissions floating solar power project in Jamshedpur works

Tata Steel on Friday commissioned a 10.8-MW capacity floating solar power project on the upper cooling pond of its Jamshedpur plant in Jharkhand. A total of 20.34 MW of solar projects have been commissioned in various facilities at Tata Steel in Jamshedpur, the company said in a statement. The floating solar project was commissioned by Tata Power under an agreement with the steel major for the installation of a total of 41MW with a combination of rooftop, floating and ground-mounted solar panels across its locations. Earlier, rooftop solar projects at the central warehouse, cold rolling mill, wire rod and hot strip mills, totalling 7.65 MW and a 2 MW ground-mounted solar project at Sonari Airport have already been commissioned.

India need subsidies to meet renewable energy targets: Energy Vault exec

Renewable electricity available at any time of the day and night "is sort of a holy grail," Piconi said. "It's not achievable with the current technologies, because they are not economical."

'Net zero goal still alive', says IEA but world still faces major obstacles

Net zero goal still alive, says IEA but the world still faces major obstacles to reach it

Net Zero by 2050 still possible with rapid renewables expansion: IEA

The report comes amid concerns of backsliding on climate and environmental commitments in Europe after the UK deferred its own ban on combustion engine cars by five years to 2035

India to achieve 500 GW renewables target before 2030 deadline: R K Singh

Union Power and New & Renewable Energy Minister R K Singh on Monday said India will achieve its 500 GW renewable energy target before the 2030 deadline. Addressing FICCI's India Energy Transition Summit 2023, Singh also said had India not lost two years due to COVID-19, the nation would have achieved 50 per cent of its power generation capacity from RE non-fossil fuels, by now. India has 424 GW of power generation capacity which includes around 180 GW from non-fossil fuels and another 88 GW is in the works, the minister said. The country has a target of 500 GW of renewable energy capacity by 2030. "We will achieve 500 GW of renewable energy (RE) well before 2030," he said. Singh also said India's energy transition programme is at the top in the world. The RE capacity addition is the fastest in the world. New and Renewable Energy Secretary Bhupinder Singh Bhalla said India added 15 GW of renewable energy in the last fiscal year (2022-23) which would be increased to 25 GW in 2023-2

Tata Power Renewable Energy enters Nepal market, ties up with Dugar Power

Renewables solution provider Tata Power Renewable Energy on Thursday said it has collaborated with Nepalese firm Dugar Power to accelerate Nepal's renewable energy initiatives. This tie-up heralds TPREL's strategic entry into Nepal's rapidly evolving renewable energy sector and sets the stage for a quantum leap in accelerating Nepal's shift toward sustainable energy, according to a statement. "Tata Power Renewable Energy Ltd (TPREL) has signed an agreement with Dugar Power Private Ltd (Dugar Power), a subsidiary of Dugar Group which is a prominent business house in Nepal," a company statement said. The partnership is set to deploy transformative solar technologies to produce a range of on- and off-grid energy solutions and mark the inception of a long-term commitment to energy sustainability in the region. The agreement is designed to cater to Nepal's diverse energy requirements, offering scalable solutions from 1 KW to MW levels. "This partnership with Dugar Power is a strategic

TotalEnergies close to investing $300 million in JV with Adani Green Energy

TotalEnergies holds a 19.75 per cent stake in Adani Green Energy and is the second largest shareholder after the promoters, who control about 56.27 per cent

India's renewable energy boom not fast enough for 1.5-degree C goal: Report

India's renewable sector is booming but just not fast enough to become 1.5-degree Celsius compatible, and the country is heading in the opposite direction entirely when it comes to phasing out coal power, a new report by Climate Action Tracker claimed on Tuesday. The Union environment ministry, however, said the report completely ignores the concept of "fair share and cumulative historical responsibility of developed nations". It said the Indian government has been implementing a number of schemes and programmes, both in terms of mitigation and adaptation and the report totally ignores this aspect. The report by the independent research group that tracks government climate action and measures it against Paris Agreement goals comes on the eve of the United Nations' Climate Ambition Summit. It analyses whether the plans of 16 countries to decarbonise their power sector align with the goal of keeping global warming below 1.5 degrees Celsius. These 16 countries include Australia, Braz

State-owned IREDA partners with BoM to finance renewable energy projects

State-owned Indian Renewable Energy Development Agency (IREDA) on Monday inked an initial pact with Bank of Maharashtra to finance renewable energy projects. The collaboration aims to promote and facilitate co-lending and loan syndication for a diverse spectrum of renewable energy projects across the nation, according to a statement. "IREDA has signed a significant Memorandum of Understanding (MoU) with Bank of Maharashtra (BoM) today, September 18," the statement said. The MoU comprises several services, including co-lending and co-origination support for all renewable energy projects, facilitating loan syndication and underwriting, management of trust & retention account for IREDA borrowers, and a commitment to establishing stable fixed interest rates spanning a period of 3-4 years for IREDA borrowings, the statement said. Under the agreement, BoM can invest in the bonds issued by IREDA in accordance with the specified terms and conditions of the offering. The MoU was signed by

Over 200 organisations call for tripling renewable energy capacity by 2030

A group of over 200 climate and energy organisations from around the globe issued an open letter on Monday, calling on world leaders and Parties to the Paris Agreement to set a global target of tripling renewable energy capacity to at least 11,000 gigawatts by 2030 at the upcoming COP28 in the UAE. This call to action coincides with the UN General Assembly and New York Climate Week. The coalition of organisations, including Adani, American Greenpower, Ember, and the Energy Transition Commission, emphasised that achieving this goal, combined with increased energy efficiency, is the most rapid and cost-effective way to decarbonise the global economy and mitigate climate change. "Last year, power sector emissions reached an all-time high and the UN assessed that no country is currently on a credible pathway to (limiting global warming to) 1.5 degrees Celsius. It is clear that we need a profound course-correction of the energy system in this decade and time is running out," the open ...

Cement cos' green power mix likely to rise to 42% by FY25: Report

Cement companies' green power mix is likely to jump to 40-42 per cent by FY25 from 35 per cent in FY23, which will lead to savings of 140-160 basis points by way of lower energy cost, a report said on Monday. Major cement players are looking at reducing their emissions by 15-17 per cent over the next 8-10 years by increasing the share of blended cement, which uses less clinker and, consequently, less fuel, Icra Ratings said in the report. This, in turn, will help increase the share of green power intake through a mix of solar, Wind and Waste Heat Recovery System (WHRS) capacities, as per the report. There is also a move to shift to alternate fuels, the report said. The rating agency estimates that the share of green power will account for 40-42 per cent of the total power mix for cement companies by March 2025 from around 35 per cent in March 2023. According to Anupama Reddy, vice-president at the agency, capital outlay towards green power investments by major cement makers for th

Growth needs more electricity

Many states need a new electricity policy that can support high economic growth

Will boost mission for clean growth: PM lauds Assam govt's plantation drive

Prime Minister Narendra Modi has hailed the Assam government's mega plantation drive, stating it will boost the country's mission for clean and green growth, besides providing long-term benefits of environmental protection and improving the health of people. He said the exercise will also further enhance the green cover of the scenic state. In a letter to Chief Minister Himanta Biswa Sarma on the state's 'Amrit Brikshya Andolan', the PM wrote: "The idea of planting one crore saplings across Assam is admirable and laudable." The letter was shared by Sarma on X, formerly Twitter, on Saturday. Modi said several references in the nation's culture and literature reflect the importance of trees and forests, and quoted a couple of Sanskrit lines on how trees purify the air and help in driving away diseases. He maintained that bringing together 'prakriti' (nature) and 'pragati' (development) has been the hallmark of the development model of "New India". "While we have been the fastest gr

REC clears Rs 6,075 cr loan to Greenko, Rs 3,081 cr to Serentica Renewables

State-run REC Ltd has sanctioned a Rs 6,075-crore loan to renewable energy company Greenko for setting up a 1,440-MW standalone pumped storage project. REC has also sanctioned debt funding of more than Rs 3,081 crore to renewable energy company Serentica Renewables for its 560 MW peak greenfield solar-wind hybrid project in the Gadag district of Karnataka. The REC is on a trajectory to achieve a green finance loan book of Rs 3 lakh Crore by the fiscal year 2030, a statement said. REC is an NBFC focusing on power sector financing and development across India. It provides financial assistance to the complete power-sector value chain, for various types of projects including generation, transmission & distribution and renewable energy. REC has also diversified into non-power infrastructure and logistics sector, to cover areas such as airports, metro, railways, ports, bridges, etc.

Round-the-clock renewable energy will cost Rs 6 per unit: RK Singh

The Union Minister for Power and New and Renewable Energy RK Singh on Friday said that round-the-clock renewable energy will cost just about Rs 6 per unit if green hydrogen is used for storage.Speaking at the Special Ministerial Session of the Fourth International Conference & Exhibition on Clean Energy in the national capital today, Union Minister RK Singh said that the cost of Green Hydrogen would be cheapest in India and that the Green Hydrogen would become a viable energy storage alternative."Green hydrogen is cheaper than gas and battery energy storage systems. We have come up with a pilot bid for about 100 MW which we hope will establish the benchmark. Once we are able to use green hydrogen for our energy requirements, all supply chain issues such as availability of lithium-ion batteries will be resolved. We will make green hydrogen and use it as storage. The average price of power in the energy exchange has recently been Rs. 8 per unit, so if our cost for round-the-clock .

TotalEnergies in talks to invest in Adani Green's projects: Report

The deal would increase Total's presence in the fast-growing Indian energy market, while giving Adani Green more means to develop new renewable energy projects

Oil India Ltd to invest Rs 25,000 crore in renewable energy by 2040

The company will invest in green hydrogen, solar, geothermal energy, 2G ethanol plant, compressed biogas plants, and carbon capture utilisation and storage (CCUS)