Page 29 - Renewable Energy

JSW Steel to double capacity in 3 yrs; renewables to power plants: Jindal

JSW Steel is aiming to nearly double its capacity to 50 million tonnes in the next three years, chairman Sajjan Jindal said on Thursday. The city-headquartered company is also aiming to shift to renewable sources of power to fire the entire 50 million tonnes of production, Jindal said speaking at an event organized by the Bombay Chartered Accountants Society late on Thursday evening. Today, at JSW Steel we are at 28 million tonnes capacity and next year we will be 37 million tonnes capacity and (in) three years' time we will be 50 million tonnes capacity, he said. He said the company is also paying a lot of emphasis on sustainability and has devised a plan to completely shift its power usage to renewable sources. "At JSW Steel, we would probably be the first steel company in the world which will be 50 million tonnes capacity and operate 100 per cent on renewable power, that is the plan we are doing, Jindal said. Jindal said as the company goes ahead with its planned capacity ...

Serentica Renewables inks pacts to supply green energy to industries

Serentica Renewables on Monday said it has signed agreements with multiple industrial customers for delivery of over 1.25 GW green energy. This is in addition to the 580 MW PDAs that were signed in March 2023, the company said in a statement. "Serentica has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. To ensure the round-the-clock green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country," it said. The projects will deploy both wind and solar capacities to be supplemented with balancing solutions like energy storage. Serentica is setting up these solar and wind capacities across the states of Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS). The overall portfolio will supply more than 9 billion units of clean energy annually, thereby offsetting 8.5 million tonnes of CO2, the company ...

Renewable energy firm Avaada Group completes Rs 10,700 cr-funding round

Renewable energy company Avaada Group on Wednesday said it has closed a funding round of Rs 10,700 crore. The funds will be used to bolster Avaada's green hydrogen, green methanol, green ammonia, solar manufacturing and renewable power generation ventures. "Avaada Group has announced the successful closure of Rs 10,700 crore (USD 1.3 billion) funding round, marking a historic moment for the green energy industry in Asia and India's renewable energy sector," the company said in a statement.

India ranked 67th globally on Energy Transition Index, Sweden on top: WEF

The World Economic Forum on Wednesday ranked India at the 67th place globally on its Energy Transition Index and said it is the only major economy with energy transition momentum accelerating across all dimensions. Sweden topped the list and was followed by Denmark, Norway, Finland and Switzerland in the top five on the list of 120 countries. Releasing the report published in collaboration with Accenture, the WEF said the global energy transition has plateaued amid the global energy crisis and geopolitical volatilities, but India is among the countries that have made significant improvements. "India is the only major economy with energy transition momentum accelerating across the Energy Transition Index's equitable, secure and sustainable dimensions," the WEF said. "For example, despite continued economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, while achieving universal energy access and effectively ...

Centre to come up with list of critical minerals, draft policy this week

The critical minerals list is likely to have more than 40 minerals

Focus on stable power grid, renewables, not on green hydrogen, says GTRI

India should focus on ensuring a stable power transmission system and increasing renewables in the energy mix rather than on capital-intensive green hydrogen, think tank GTRI said in its report on Monday. Global Trade Research Initiative (GTRI) said that global private investments in green hydrogen are low, with rich countries providing substantial subsidies. India should carefully consider the viability and costs before subsidizing its use, GTRI co-founder Ajay Srivastava said. The report said that green hydrogen is 6-8 times more expensive than standard energy options, making it economically challenging and the cost of producing green steel using this hydrogen is 40-60 per cent higher compared to regular steel. "India should focus on stabilizing grid power and increasing its renewable energy share rather than investing in an expensive green hydrogen ecosystem," it said adding the transportation and storage of green hydrogen require specialized infrastructure due to its flammabili

Indian Railways, USAID collaborate on clean and efficient energy solutions

The partnership aims to reduce the carbon footprint of Indian Railways and work towards achieving the goal of net zero carbon emission by 2030

These 2 KP Group stocks have zoomed up to 67% thus far in June

Thus far in the month of June, KPI Green Energy (66 per cent) and K P Energy (56 per cent) have outperformed the benchmark S&P BSE Sensex index

Punjab announces Rs 300 cr incentive to promote use of electric vehicles

Punjab's transport minister Laljit Singh Bhullar has said the state government will provide incentives worth around Rs 300 crore in the next three years to promote the adoption of electric vehicles (EVs) and reduce pollution. These incentives will be provided on electric two-wheelers, e-cycles, e-rickshaws, e-autos and electric light commercial vehicles. He directed the officials of the transport department to write a letter to the finance department for creating a dedicated EV fund to facilitate initiatives for the adoption of the EVs in the state. He was presiding over a meeting of the state level EV committee, which has been set up for the implementation of the Electric Vehicle Policy-2023, here on Wednesday. According to an official statement, Bhullar took details of the responsibilities entrusted to various departments concerning the implementation of the EV policy and asked officials to ensure speedy implementation. Bhullar instructed the Punjab State Power Corporation Ltd a

Michelin with CleanMax Enviro to raise renewable energy usage to 37%

French tyre major Michelin has signed a power purchase agreement with CleanMax Enviro Energy Solutions Pvt Ltd aimed at increasing its renewable energy sources at its facility near here, the company said on Wednesday. The first long-term open access power purchase agreement would allow the tyre manufacturer to increase its use of renewable energy to 37 per cent from the current 11 per cent at its facility in Thervoy Kandigai located at about 45 km west of Chennai in neighbouring Tiruvallur district. "...in India we have been a pioneer in adopting multiple innovative green initiatives both inside and around outside our factory. Our partnership with CleanMax is one more concrete step by Michelin in India to contribute to our global green mission" Michelin Chennai plant director Florent Chaussade said. Michelin India has several green energy projects in and around its state-of-the-art manufacturing plant as part of the Michelin Group's global green mission to becoming carbon-neutral by

India's energy transition beyond dependence on renewables

Ramping up nuclear power is one option but requires incentives for the sector

Transmitting efficiency

New RE projects could address a major weakness

Maharashtra to generate 5,220 MW renewable power, create 6,760 new jobs

In a major initiative, the Maharashtra government has signed MoUs to set up projects to generate 5,220-MW of renewable energy at a cost of Rs 41,000-crore

What are green skills and which sectors are hiring for them right now?

As the industries shift towards more resource-conscious and eco-friendly goals, here is everything you need to know about green skills, job, and growing sectors

Solar power generation up 75% in MP, panels installed at 8,550 places

There has been a 75 per cent rise in the number of places using solar panels to generate electricity in the western part of Madhya Pradesh over a period of one year, an official from a power distribution company said on Tuesday. Electricity was being generated from solar panels at 4,900 places in 15 districts of western Madhya Pradesh in May-June last year, while this number has now increased to 8,550, the spokesperson of Madhya Pradesh western Region Power Distribution Company said. At present, solar panels have been installed at 8,550 places, which include hospitals, government offices and other premises, besides residences, he said. Solar panels of total 110 MW are installed at these locations, from which electricity worth at least Rs 5 crore is being generated every month this summer. The panels are installed on the rooftops of buildings at most places, the official said. Of these, solar panels of 59 MW capacity have been installed in the premises of low-tension consumers of ..

Peak power demand met touches all-time high of 223.23 GW on June 9

Peak power demand met or the highest supply of electricity touched an all-time high of 223.23 GW on June 9, showing the waning impact of unseasonal rains on consumption, government data showed. The power ministry had estimated that the peak power demand will easily touch 229 GW during this summer in April only. The unseasonal rains affected the demand and brought down temperature during summer, resulting in fewer use of cooling appliances like air conditioners which guzzle electricity, experts say. Taking proactive measures, the power ministry had asked well in advance all imported coal-based power plants to run at full capacity from March 16, 2023 to June 15, 2023, to meet any unprecedented rise in demand and consumption of electricity in the country. Besides, the ministry had asked the domestic coal-based thermal power plants to import coal for blending to avoid any shortfall of the dry fuel. The government data shows that peak power demand met was 215.97GW in April and 221.34GW

Industry body WIPPA suggests 4 measures to boost wind energy progress

Industry body WIPPA on Friday suggested four measures to boost progress in the wind energy sector. "At the central government, we request the implementation of the four policies implementation of the bidding plan, ISTS (inter-state transmission system) open access, fixing the missing links in LPS (late payment surcharge) and greater facilitation of offshore wind bids," Wind Independent Power Producers Association (WIPPA) president Parag Sharma said in a statement. The body, with the support of the Ministry of New and Renewable Energy (MNRE), will organise an event on Sunday to increase awareness of wind energy ahead of the Global Wind Day on June 15, the statement said. Global Wind Day run here on June 11, 2023, will highlight the MNRE and WIPPA's role in reviving India's wind sector. Global Wind Day Conference 2023 was also organised in Pune on Thursday. Dinesh Dayanand Jagdale, Joint Secretary at MNRE, expressed satisfaction at adding gigawatts on the ground now, and at the ...

Kerala can save Rs 9k cr in 5 yrs if it switches to 100% renewable energy

Kerala can save Rs 9,000 crore over a five-year period if they replace coal power purchases with renewable energy contracts by 2040, according to a new study. If the southern state replaces its scheduled purchases of coal power from central sector plants with new renewable energy at an average tariff of Rs 3/kWh, the state would save approximately Rs 969 crore per annum, it said. The report also suggests a transition pathway that sees the most expensive central sector power contracts phased out first, saving the state Rs 4,505 crore through the phase-out of 1560 MW of coal power by 2026-27, the study further said. The significant findings were made by think-tank Climate Risk Horizons (CRH). This finding comes just months after Chief Minister Pinarayi Vijayan announced that the state will aim for 100 per cent renewable energy over the next 17 years. In addition to explaining the financial and climate-related benefits of this move, the CRH report also charts out the transition pa

Tata Power Renewable Energy arm to set up 966 MW project for Tata Steel

We believe that renewable energy is the future, said T. V. Narendran, CEO & MD, Tata Steel

India's green goal offers companies $500 bn opportunity, says ReNew CEO

ReNew has plans to invest in the entire decarbonization chain. The company, with about 8 gigawatts of operational capacity, is among India's top renewables producers