Page 37 - Renewable Energy

IREDA makes record Rs 16,320 cr loan disbursements in 2022-23 fiscal

State-owned IREDA on Monday said it has made a record Rs 16,320 loan disbursement and sanctioned loans worth Rs 32,578 crore in the 2022-23 fiscal. The milestone achieved is the highest in the history of the company, Indian Renewable Energy Development Agency Ltd (IREDA) said in a statement. "The company exceeded the historical mark and touched loan disbursement of Rs 16,320 crore and touched loan sanction of Rs 32,578 crore as on March 27, 2023). Last year, IREDA has achieved loan disbursement of Rs 16,071 crore and loan sanction of Rs 23,921 crore," it said. Pradip Kumar Das, Chairman and Managing Director, IREDA, said the record-breaking loan disbursement and sanction reflect the company's commitment towards its mission of promoting and financing renewable energy projects in India. IREDA, under the Ministry of New and Renewable Energy (MNRE), is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects relatin

Power challenge: Summer comes at a price for discoms as energy bills soar

Increase in cost has pushed states to seek tariff hike in the range of 15-30%

India faces basic contradiction in drafting policies for renewables sector

Frequent changes in rules governing domestic equipment use in projects is slowing capacity addition

PM Modi's green dream at risk as Indian renewables hit by headwinds

Energy transition investments in India already lag behind other major nations, and now the cost of capital is increasing as global interest rates rise

How Vartika Shukla, the first female leader at EIL, is plotting change

Shukla, who's worked for the company for more than three decades, is attempting to change its profile, branching out from construction of fossil-fuel plants into new areas

Budget session: Naxal violence, renewable energy capacity, and more

The violence by Naxals has come down by 77 per cent in over a decade while casualties of the security forces and civilians dropped by 90 per cent, Lok Sabha was informed

NTPC signs agreement with IOCL to set up renewable energy projects

NTPC Green Energy Limited (NGEL) and Indian Oil Corporation Limited (IOCL) have inked pact for setting up of renewable energy projects to meet round-the-clock power requirement of IOCL refineries. The JV agreement was signed in the presence of Gurdeep Singh, Chairman and Managing Director of NTPC Limited and Shrikant Madhav Vaidya, Chairman of IOCL, among others. "The signing of this joint venture agreement between the two behemoths will enable NTPC Limited and IOCL to meet the government's clean energy targets in their respective core businesses," NTPC said in a statement on Monday. NTPC Ltd, through its wholly-owned subsidiary, NGEL, has set an ambitious target of building a renewable generation portfolio of 60 GW over the next decade to aggressively pursue its green energy business.

India can achieve energy independence by 2047, says US Energy Dept study

India can achieve energy independence by 2047, when it celebrates 100 years of independence, according to a study by the US Department of Energy's Lawrence Berkeley National Laboratory. The study titled "Pathways to Atmanirbhar Bharat" also notes India's energy infrastructure needs an investment of USD3 trillion in the coming decades. It determined that achieving energy independence will generate significant economic, environmental, and energy benefits for India which include USD2.5 trillion in consumer savings through 2047, reducing fossil fuel import expenditure by 90 per cent or USD240 billion per year, enhancing India's industrial competitiveness globally, and enabling its net-zero commitment ahead of schedule. "India's energy infrastructure requires a USD3 trillion investment in the coming decades, and our study finds that prioritizing new energy assets that are cost-effective and clean is crucial for long-term financial sustainability," said Berkeley Lab staff scientist and ..

Wind energy projects made 64.54 bn electricity units in April-Jan of FY23

Tamil Nadu was the second highest generator of electricity from wind energy power projects, as it generated 15,703 million units of electricity during the period under review

More steam left in NTPC stock; to be key beneficiary of rising power demand

India's largest generator will be a key beneficiary of increasing power demand, access to coal supply and focus on renewable energy

Climate change insurance: Poor reach, reliance on fossil fuel key issues

India's challenge is that the insurance coverage and penetration vary by lines of business and the low penetration problem is acute

Goldman exits ReNew, CPPIB becomes new majority owner in the company

Goldman's exit is in compliance with US state securities regulations, which restrict the ownership of ownership beyond 10 years in a company

Cloud over AGEL plans bad news for India's renewable energy future

The firm had aimed at 45 Gw of RE capacity by 2030, the year India is envisaging to have 500 Gw of non-fossil fuel capacity

Coal vs gas, or coal and gas?

Coal is bad, and so is natural gas, when it comes to climate change. Then why is it that the Western world, which has to date built its economy on dirty coal, is now wedded to gas as its dream fuel?

Ramkrishna Forgings plans to setup 85 MW solar capacity: CFO Lalit Khetan

Ramkrishna Forgings is planning multi-crore investments to set up around 85 mega watt (MW) renewable energy capacity, company CFO Lalit Khetan has said. The company aims to execute the plan over the next 12 months, Khetan said. Out of the planned 85 MW green capacity, about 8 MW roof-top solar project will be set up at the company's forging plants at Sariekella and Dugni, in Jamshedpur, he told PTI. "The total cost of the 8 MW project is estimated to be approximately Rs 35 crore, which will be financed by a mix of debt and equity," Kehtan, who is also the Executive Director of the company said. The power generated will be used for captive consumption, reducing the company's dependence on grid power, he said. When asked if the company plans more green projects to increase usage of clean energy, Khetan replied in affirmative. "Our commitment is responsible business practices and dedication to reducing carbon footprint. We look to explore setting up another solar capacity of up to 7

Goa aims for 100% renewable energy usage across all sectors by 2050: CM

Goa Chief Minister Pramod Sawant on Friday said the state government has set a goal to ensure 100 per cent renewable energy usage across all sectors by 2050. Addressing the second edition of Confederation of Indian Industries (CII) Conference on Clean Renewable Energy 2023 here, Sawant said the state government's plan is expected to create around 15,000 jobs. The Goa government has set a goal to achieve 100 per cent renewable energy usage across all sectors in the state by 2050, he said. "This ambitious plan is expected to create around 15,000 additional jobs, with 500 jobs per year dedicated exclusively to the solar and wind energy generation sector, the chief minister said. The government is committed to generating 150 MW of green energy in the next two years and will be setting up 100 MW solar power plants throughout Goa, he said. "The state government has also signed a memorandum of understanding to develop India's first convergence project to generate green energy for rural a

Brighter prospects ahead for power sector stocks amid economic momentum

Though there are a few monitorables, rising consumption should drive up volumes, investment

NTPC transfers 15 renewable energy assets to NGEL for Rs 10,000 crore

Power giant NTPC on Tuesday said it has completed the transfer of 15 renewable energy assets to NTPC Green Energy Ltd (NGEL) for a consideration of Rs 10,066.99 crore. Besides, the company has transferred its entire stake in NTPC Renewable Energy to NGEL for Rs 731.17 crore, according to a regulatory filing. NTPC said it has completed the transfer of 15 renewable energy assets to NGEL, a wholly-owned subsidiary, through a business transfer agreement executed on July 8, 2022. The consideration for transferring the 15 assets was Rs 10,066.99 crore, it added. Further, the company completed the transfer of 100 per cent equity shareholding in NTPC Renewable Energy to NGEL through a share purchase agreement. The consideration for the stake transfer was Rs 731.17 crore and the pact was executed on July 8, 2022, as per the filing.

Tata Power Renewable board okays allotment of 200 mn shares to GreenForest

Tata Power on Tuesday said the board of its arm Tata Power Renewable Energy has approved allotment of 20 crore preference shares worth Rs 2,000 crore to GreenForest New Energies Bidco. "Board of Directors of Tata Power Renewable Energy Ltd (TPREL), a subsidiary of the Company, today approved the allotment of 20,00,00,000 Compulsorily Convertible Preference Shares at face value of Rs 100 each at par aggregating to Rs 2,000 crore on a preferential basis to GreenForest New Energies Bidco Ltd (GreenForest), a Company incorporated under the laws of England and Wales," a BSE filing said. With this, both the tranches of investment of Rs 2,000 crore each in the TPREL made by GreenForest are completed in accordance with the terms of the agreements, it stated.

India approves $3.9 bn hydropower project near China border in northeast

Dibang, which will be built over more than 5,000 hectares (12,360 acres) of forest land, faces similar risks, according to Himanshu Thakkar, coordinator for nonprofit South Asia Network on Dams, River