Page 28 - Renewable Energy

We must join hands to tackle climate change: CII Eenrgy Conference

The Confederation of Indian Industry (CII) Karnataka on Friday organised its annual flagship energy conference on the theme 'Integrated Renewable Energy System for Sustainable Future' to promote adoption and integration of renewable energy sources into the existing energy infrastructure. The conference focused on key facets of the sector including renewable energy integration, alternative energy technology aiming at net-zero, energy storage solution technologies and best practices on energy conservation measures from industries. Addressing the conference, Vijaykrishnan Venkatesan, Chairman, CII Karnataka State Council and Managing Director, Kennametal India Ltd, emphasised the significance of the sector, considering the intensifying focus on Environmental, Social and Governance (ESG), energy efficiency and ethical and responsible sourcing of energy. Highlighting the Karnataka State Vision document charted by CII and IIM Bangalore, he said that building a green ecosystem has emerged

FM Nirmala Sitharaman meets US envoy John Kerry, discusses climate goals

Finance Minister Nirmala Sitharaman on Wednesday met US Special Climate Envoy John Kerry and discussed joint efforts and commitments by both the countries to achieve climate, economic and strategic technology cooperation goals. Kerry, who arrived here on a five-day visit, met Sitharaman at her office in Parliament House. "Both sides also discussed creation of an innovative investment platform for deployment of greenfield Renewable Energy projects in India," the finance ministry said in a tweet. Earlier, Kerry held discussions with Union Minister for Heavy Industries Mahendra Nath Pandey and discussed diversifying supply chains and empowering India as a manufacturing hub for electric trucks, buses, and heavy duty vehi?cles. Speaking to reporters outside Parliament, Kerry said he had very good and constructive meetings. "There are many things where India and the United States can work together in order to advance the climate agenda," he said, adding that the two countries were worki

Istanbul to Goa: G20 nations avoid uniform approach in energy transition

Countries rarely agree on global policy, causing differences that have lingered on

NDMC plans new solar policy to shift completely to renewable energy

The New Delhi Municipal Council (NDMC) is planning to bring in a new solar policy with an aim to shift completely to renewable energy, officials said on Tuesday. At a press conference, NDMC member Kuljeeg Chahal said the civic body will encourage the implementation of grid-connected solar plants. "New Delhi Municipal Council has embarked upon an ambitious journey of shifting to 100 per cent renewable energy. "In addition to the broader arrangement of tying up with the renewable energy sources it is also incumbent upon the council to all possible potential of solar energy generation within its jurisdiction," Chahal said in a statement. NDMC will promote the deployment of solar plants with net metering on all existing, upcoming or proposed buildings, including that of government organisations, government hospitals, schools and other educational and research institutes and fire stations, hospitals, he said. The policy will be applicable for any solar energy-generated system with a ..

Hero Future Energies signs Rs 6,200-cr MoUs for renewable energy projects

Hero Future Energies on Tuesday said it has signed two agreements with REC and PFC to develop green energy projects. The agreements were signed on the sidelines of the 4th G20 Energy Transition Working Group meeting, which concluded last week in Goa, Hero Future Energies said in a statement. "Hero Future Energies (HFE) has signed two memorandums of understanding (MoUs) with REC Ltd and PFC Ltd for infusion of Rs 3,100 crore each into HFE over the next five years," it said. The funds will be used to develop renewable projects across the country, including solar and wind for commercial and industrial customers, utility projects and green hydrogen derivatives, and will strengthen the company by ensuring the financial closure for future projects.

Juniper Green Energy signs MoU with Power Finance Corporation for Rs 5K cr

Juniper Green Energy has signed an MoU with state-owned Power Finance Corporation for Rs 5,000 crore to fund its renewable energy projects. The memorandum of understanding (MoU) is for funding projects of 1200 MW capacities. "The collaboration will support us in pursuing exciting opportunities as we play a critical role in meeting the exponential growth of sustainable energy for India," company's CFO Parag Agrawal said in a statement.

India's ACME Group gets $490 million in funding for Oman project

The facility is expected to produce 100,000 tons of green ammonia annually in its starting phase

Goa to ensure 100% renewable electricity supply by 2050: CM Sawant

Goa will ensure 100 per cent renewable energy-based electricity supply to all the demand sectors by 2050 or even much earlier, Chief Minister Pramod Sawant said on Saturday. The chief minister was speaking at the launch of Goa's clean energy roadmap 2050 during the ongoing G20 Clean Energy Ministerial (CEM) and 8th Mission Innovation (MI) Meeting. Guided by Goa's Energy Vision, and following the Clean Energy Roadmap's analysis, Goa is certain that it will ensure 100 per cent renewable-based electricity supply to all demand sectors by 2050, or even much earlier, Sawant said. He said Goa is on the path of optimally harnessing solar power and the state Solar Policy is focused on household generation of clean energy. "We have already increased solar power generation sevenfold since 2019, the chief minister added. Sawant said his government was committed to transforming Goa's tourism sector, making it among the first global green tourist hotspots. A strategic roadmap for this is alrea

ACME Group gets Rs 4,000-cr loan from REC for Oman green hydrogen project

Renewable energy firm ACME Group on Friday said it has tied up a Rs 4,000-crore loan from state-owned REC Ltd for its green hydrogen and ammonia project in Oman. The amount will be used to commence the first phase of the project, to be established at the Special Economic Zone (SEZ) in Duqm, Oman, a company statement said. Once the first phase is ready, about 100,000 tonnes of green ammonia is expected to be produced per annum initially, which will subsequently go up to 1.2 million tonnes a year. The project will be powered by a 5.5-GWp solar PV plant and have the capacity to generate 3.5 GW electrolyser, the statement said. "Diversified renewable energy company ACME Group announced securing Rs 4,000 crore loan from REC Ltd for its green hydrogen and green ammonia project in Oman," it stated. The ACME Group also announced the signing of a Memorandum of Understanding (MoU) with REC Ltd for a Rs 21,000-crore loan to set up four major renewable projects in the country. The MoU was sig

Investment in renewable energy concentrated in developing countries: Expert

While huge amount of investment is occurring in the renewable energy sector, a large proportion of it goes to developing countries and the rest of the world get hardly any fund, Ajay Mathur, Director General of International Solar Alliance, said on Thursday. Talking to PTI at the sidelines of an event during G20 fourth Energy Transitions Working Group meeting, Mathur said that the net zero emission target is possible. "We see a huge amount of investment occurring in renewable energy in general and solar in particular. In 2022, the investment in renewable area was approximately 500 billion dollars of which half was in the solar," he said. Mathur said, "The problem is that the vast amount of this money went to the countries like China and large emerging developing countries while rest of the world, hardly got anything." He said that the investment in Africa (African continent) for example was less than 5 per cent. Mathur said that the investment is "extremely differentiated, it is n

Torrent Power commissions 115 MW wind energy project in Gujarat's Dwarka

Torrent Power on Wednesday said one of its subsidiaries has commissioned a 115 MW wind project in Devbhumi Dwarka district of Gujarat. Torrent Solargen was awarded the project through a competitive bidding under SECI (Solar Energy Corporation of India) Wind Tranche V, a company statement said. The company signed a power purchase agreement for a period of 25 years with SECI which has a back-to-back Power Sale Agreement (PSA) with Haryana. Wind turbines for the project have been sourced from GE. With the addition of 115 MW wind power, Torrent Power's installed renewable capacity has reached 1.18 GW, and total generation to 4.2 GW. Torrent Power, with a turnover of Rs 25,694 crore is the integrated power utility of Torrent Group. It has presence across the entire power value chain of generation, transmission, and distribution.

Amazon.com Inc says its carbon emissions fell for first time in 2022

Amazon in recent years has been the biggest corporate buyer of renewable electricity

India's renewable energy installations to reach 45 GW in next 2 yrs: Report

Annual renewable energy (RE) installations in FY24 are to be around 20 GW, led by the solar sub-segment, CareEdge Ratings said on Thursday. This is based on the healthy pipeline of over 55 GW assets under development. The subsequent year is expected to see installations of 25 plus GW, leading to a cumulative increase of 45 GW over the next two fiscal, the rating agency said in a sectoral note. The solar sub-segment is expected to lead the way in terms of installations, followed by wind and hybrid capacity. The commercial and industrial segment is also expected to contribute significantly to future capacity additions. These projections are based on the government's commitment to ensuring the bidding of approximately 50 GW of annual capacity for the next five years to facilitate the achievement of the target of 500 GW capacity through non-fossil fuel sources by 2030. This will require annual RE installations to exceed 40 plus GW. The trajectory for FY24 includes 10 GW of wind capaci

EIB keen to extend 1 bn euro for green hydrogen, RE projects in India

Luxembourg-based European Investment Bank (EIB) on Thursday said it is keen to extend finance of 1 billion euros for the development of green hydrogen and renewable energy projects in India. In this regard, EIB Vice-President Kris Peeters will make a four-day business visit to India this week to strengthen cooperation with the Indian public and private sectors and discuss EIB support for clean energy investment and its transport in the country, the bank said in a statement. The European Investment Bank (EIB) is the lending institution of the European Union member states. "The aim of the visit is to confirm the EIB's commitment to future investment under the EU-India Connectivity Partnership, in support of the European Green Deal and the EU Global Gateway strategy...," the statement said. Peeters will visit the G20 Infrastructure Investors Dialogue (IID), where he will meet banking leaders. The G20 IID is an official G20 event organised during the third meeting of finance ministers

India achieves 173GW RE capacity, 120GW under implementation: Bhalla

India has achieved 173GW of installed renewable energy capacity while another 120GW is under various stages of implementation, a top official said on Thursday. This assumes significance in view of India's target of having 175 GW of renewable energy capacity by 2022, which included 100 GW from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro-power. India's installed renewable capacity is 173.61GW which includes 67.82GW of solar, 43.19GW of wind energy, 46.85GW of large hydro and 4.94GW of small hydro (of up to 25MW each), according to the latest official data. "India's efforts for accelerating energy transition have been robust and decisive. Out of the total installed renewable energy capacity of over 173GW currently, India has the fourth largest high capacity in the world with another 120GW (of renewables) at various stages of implementation," said New & Renewable Energy Secretary Bhupinder Singh Bhalla while addressing the US India Energy Summit on Thursday .

Renewable energy firm Goldi Solar forays into power backup solutions biz

Renewable energy player Goldi Solar on Thursday announced its foray into power backup solutions business with the launch of its VAMA On-grid range of inverters. The Gujarat-based company is in the process of expanding its module manufacturing capacity to 6 gigawatt from 2.5 gigawatt (GW) at an investment of Rs 5,000 crore. In a statement on Thursday, Goldi Solar said, "It has forayed into the smart inverter business and launched VAMA On-grid range of smart string inverters. The inverter range is available in single-phase and three-phase variants designed specifically for on-grid applications". On-grid inverters are systems that convert solar power DC into the main power supply. Goldi Solar founder and Managing Director Ishver Dholakiya said the company targets a sizable share of residential, commercial and industrial segments in India over the next two-three years with the latest product. "This technology used in VAMA increases surface area for heat transfer and enhances product .

'Integrating renewable energy in power system crucial to meet climate goal'

Integrating more renewable energy in the power system is crucial for India to meet climate goals, the Institute for Energy Economics and Financial Analysis (IEEFA) said. In its latest report, IEEFA has also suggested various measures to ramp up the share of clean energy in the country's power system. To cut emissions, India needs to increase renewable energy integration/absorption, the report said. "While India has been adding renewable energy capacity at a fast pace to meet its emissions intensity reduction target for 2030, the country needs to ramp up the share of clean energy in its power system. Integrating more renewable energy in the power system is crucial for India to meet climate goals," it noted. For India to meet growing electricity demand while addressing climate concerns, increased integration of clean energy, including variable renewable energy, is essential, IEEFA Energy Analyst and the report's author Charith Konda said. While raising non-fossil fuel power installe

Fossil-fuel demand for electricity may have peaked following RE's growth

From China to Europe, the capacities of solar, battery and wind power are surging, the Rocky Mountain Institute said in an analysis released Thursday

Tracking the sun with automation for efficiency in solar power production

Smart sensors, automated weather stations, machine learning algorithms comprise a market worth $10 bn

Centre may set mandates for industrial use of green hydrogen: Official

India has set a goal of producing 5 million metric tonnes of green hydrogen annually by 2030, with about 70% of that marked for export markets, he said