Page 25 - Renewable Energy

Rajasthan govt signs 5 MoUs worth Rs 1.60 trn to boost energy sector

These MOUs and purchasing power agreements (PPA) will increase thermal and renewable energy production in the state, the release stated

This stock zoomed 164% in 2 months on plans of stock split; up 816% in FY24

The company has fixed March 16 as the record date for its proposed 1:5 stock split.

Tata JLR aims to generate over a third of its own power globally by 2030

The company said work would start this year on the automaker's first three UK solar projects in Gaydon, Halewood and Wolverhampton, which should be completed by the end of 2026

India's green hydrogen sector will need $4-12 billion support: A&M report

The firm said estimated support is driven by the need to level playing field against global suppliers who enjoy government subsidies and to enable domestic end-use sectors to transition affordably

REC to issue deep-discount bonds to raise Rs 5,000 crore in March

The state-run financier plans to raise the money through 10-year, deep-discount bonds and the issue is likely to see strong investor demand, the sources said

Govt finalises funding mechanism for battery energy storage system project

Union Power and New & Renewable Energy Minister R K Singh has finalised the mechanism for deployment of funds for various projects to develop battery energy storage systems in the country. Battery energy storage systems (BESS) will ensure round-the-clock supply of renewable energy. The minister chaired a meeting on February 22 to finalise the structure for operationalising the scheme of viability gap funding for development of BESS with the capacity of 4,000 megawatthours (MWh), an official statement said on Sunday. Officials from the power ministry and those from Central Electricity Authority, Solar Energy Corporation of India, Grid India, and NTPC Vidyut Vyapar Nigam Ltd. (NVVN) were present in the meeting. Addressing the officials, Singh said that the government will encourage setting up of BESS capacity through a viability gap funding scheme to meet the fast-growing needs of power demand as well as energy transition. The minister said when we have extra solar energy during the

Renewable Energy capacity to rise to 170 GW by March 2025, says ICRA

India's installed Renewable Energy (RE) capacity, excluding large hydro plants, is estimated to increase to 170 GW by March 2025 from a level of 135 GW in December 2023, rating agency ICRA said on Friday. "ICRA estimates that the rise in the RE capacity over the next five-six years is estimated to enhance the share of RE plus large hydro in the all-India electricity generation from about 23 per cent in FY24 to around 40 per cent in FY30," ICRA said in a statement. Given the intermittency associated with RE generation, the availability of Round The Clock (RTC) supply from RE sources remains important, it stated. This can be made possible through the use of wind and solar power projects complemented with energy storage systems, it suggested. According to the statement, ICRA expects the installed RE capacity, excluding hydro energy, in India to increase to about 170 GW by March 2025 from 135 GW as of December 2023. Thereafter, the capacity addition is likely to be supported by the ..

Solar installations fall 44% in 2023 due to land related issues: Report

India has reported a 44 per cent fall in solar installations at 7.5 gigawatt in 2023 due to land acquisition-related issues, research firm Mercom Capital said on Thursday. According to the US-based research firm's latest report, a total of 13.4 gigawatt (GW) solar capacity was installed in the country in 2023. As of December 2023, the cumulative installed solar capacity stood at 72 GW. Of which utility-scale projects accounted for 85.4 per cent, and rooftop solar accounted for 14.6 per cent, the report said. "In 2023, large-scale solar installations fell 51 per cent to 5.8 GW from 11.7 GW in 2022. Extensions granted to several large-scale projects and delays primarily due to land (acquisition) and transmission (connectivity) issues impacted capacity additions during the year. Large-scale solar accounted for 77.2 per cent of annual solar capacity additions, and rooftop solar contributed 22.8 per cent," it said. Rajasthan followed by Karnataka, and Gujarat were the top three states f

ReNew Q3 results: Loss narrows to Rs 321 cr, revenue rises to Rs 1,929 cr

ReNew on Tuesday said its net loss narrowed to Rs 321.6 crore during the quarter ended December 31, 2023. It had posted a net loss of Rs 401.3 crore during the October-December period of the preceding 2022-23 financial year, the renewable energy firm said in a statement. The company's total revenue rose to Rs 1,929 crore, from Rs 1,607.7 crore in the year-ago period. The earnings before interest, taxes, depreciation, and amortization (EBITDA) was Rs 1,250.9 crore in the quarter under review, as against Rs 1,162.8 crore the third quarter last fiscal. As of December 31, 2023, the company's portfolio consisted of 13.8 GW capacity, of which 8.5 GW is commissioned and 5.3 GW committed capacity, compared to 13.4 GW capacity as of December 31, 2022. During the April-December period, the net profit was at Rs 353.8 crore. The company had reported a net loss of Rs 510.3 crore in the first nine months of FY23. Total income was at Rs 7,241.4 crore in the first nine months of this financial y

REC, Damodar Valley inks pacts worth Rs 588 cr to develop tubed coal mines

State-owned REC signed agreements to provide Rs 588 crore finance facilities to Damodar Valley Corporation for development of tubed coal mines in the Damodar Valley region. "REC Ltd has signed agreements worth Rs 588 crore with the Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the Damodar Valley region," a power ministry statement said. According to the statement, the agreements aim to strengthen the cooperation between REC and DVC for the development of tubed coal mines, and include a term loan agreement, an escrow agreement, and hypothecation deeds. The agreement was signed by Senior Chief Project Manager, REC Regional Office, Kolkata, Santosh Kumar Sahu, and Senior General Manager (Finance), DVC, Durgesh Maity. The agreements signed underscore the collaborative efforts of both organisations in promoting sustainable development and leveraging resources for the greater benefit of the community. REC and DVC remain steadfast in their dedicatio

Govt issues guidelines for transport pilot projects on green hydrogen use

The government on Wednesday issued scheme guidelines to support pilot projects based on the use of green hydrogen as fuel in buses, trucks and four-wheelers. The scheme will be implemented with a total budgetary outlay of Rs 496 crore till the financial year 2025-26, a statement by the Ministry of New Renewable Energy said. The central government has come out with guidelines for undertaking pilot projects for using green hydrogen in the transport sector. "Scheme Guidelines for Implementation of Pilot Projects for Use of Green Hydrogen in the Transport Sector" have been issued by the Ministry of New & Renewable Energy (MNRE) on February 14, 2024, under the National Green Hydrogen Mission, according to the statement. With the falling costs of renewable energy and electrolysers, it is expected that vehicles based on green hydrogen can become cost-competitive over the next few years. Future economies of scale and rapid technological advancements in the field of vehicles powered by ..

KPI Green Energy Q3 results: Net profit up 47% at Rs 50 cr, revenue doubles

KPI Green Energy Ltd on Wednesday posted a 47 per cent rise in consolidated net profit to Rs 50.60 crore in the December quarter, supported by higher income. It had clocked a net profit of Rs 34.45 crore in the year-ago period, the company said in an exchange filing. The company's total revenue surged to Rs 331.32 crore over Rs 179.66 crore a year ago. Its expenses stood at Rs 259.55 crore in the third quarter of the ongoing fiscal, as against Rs 137.11 crore a year ago. KPI Green Energy Ltd (Formerly known as KPI Global Infrastructure Ltd), is the solar and hybrid vertical of KP Group. The Gujarat-based company develops, builds, owns, operates and maintains solar and hybrid power plants through as an Independent Power Producer (IPP) and as service provider to Captive Power Producer (CPP).

Airtel's Nxtra to procure 140,208 MW renewable energy for data centres

Nxtra, the data centre unit of Bharti Airtel, on Wednesday announced an agreement with Ampln and Amplus Energy to procure an additional 140,208 MWh (megawatt-hour) of renewable energy. With this, Nxtra has fortified its existing commitment of reducing its carbon footprint through renewable energy sources annually by nearly 99,547 tCO2e (stands for 'tonnes of carbon dioxide equivalent'). "As per the agreement, AmpIn Energy and Amplus Energy will set up captive solar and wind power plants of 48 MWdc and 24.3 MW, respectively, for Nxtra's data centres in Tamil Nadu, Uttar Pradesh, and Odisha," the release said, announcing the pact. This is in line with Nxtra's resolve to achieving its net-zero target of 2031 and further strengthen its credentials as India's largest chain of green data centres in the country, the release added. "This is in addition to Nxtra's multiple other interventions to reduce absolute scope 1 and 2 greenhouse gas emissions across its operations by 100 per cent by

Adani Green starts generating power at Khavda renewable power plant

Adani Green said once the Khavda plant is fully operational, it will be able to generate 81 billion units of clean electricity

PM Surya Ghar: Muft Bijli Yojana launched to boost solar power adoption

The prime minister has allocated more than Rs 75,000 crore in investment, which aims to bring up to 300 units of free electricity per month to 10 million households

Govt devising policies to boost green hydrogen for round-the-clock RE

India is the third largest consumer of energy, oil and LPG. India's demand for energy is expected to double by 2045

Gas to biofuels: India's demand sets agenda for global energy business

Country commits to increasing LNG imports as it separately invests in clean energy

MNRE releases guidelines on use of green hydrogen in shipping sector

The government on Friday released guidelines for pilot projects on the use of green hydrogen in the shipping sector. The Scheme will be implemented with a total budgetary outlay of Rs 115 crore till the financial year 2025-26, the Ministry of New and Renewable Energy (MNRE) said in a statement. The 'Scheme Guidelines for implementation of Pilot projects for use of Green Hydrogen in the Shipping Sector' under the National Green Hydrogen Mission, the MNRE said. Under the Mission, the MNRE will implement pilot projects in the shipping sector, for replacing fossil fuels and fossil fuel-based feedstock with green hydrogen and its derivatives. These pilot projects will be implemented through the Ministry of Ports, Shipping and Waterways (MoPSW) and the implementing agencies nominated under this scheme. The pilot projects also target development of bunkering and refuelling facilities in ports on international shipping lanes for fuels based on green hydrogen. "Two areas have been identifi

ADB mobilises Rs 1,250 cr through issuance of green bonds in local market

The Asian Development Bank on Wednesday said it has garnered Rs 1,250 crore (about USD 150 million) through its largest local currency green bond issue so far. The issue is structured as a 4-year currency linked bond, with a one-time repayment at maturity and carrying a fixed interest rate of 6.72 per cent per year, ADB said in a statement. The bond is denominated in Indian rupees but settled in United States dollars, with returns to investors indexed to the performance of the Indian currency, it said. Such bond structures are popularly known as masala bonds in the Indian financial community, it said. Proceeds of the green bond will be deployed to finance ADB's private sector renewable energy and green finance projects, which adhere to ADB's priority for tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability, it said. "Sustainability is a key driver for international capital markets, and ADB is long established as a regular is

Tata Power-DDL, ASCI partner for skill training in power, renewable energy

Tata Power Delhi Distribution Ltd (Tata Power-DDL) is a 51:49 per cent joint venture between Tata Power and the Government of NCT of Delhi. The power discom supplies electricity to 7 mn households