Page 38 - Renewable Energy

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)

Serentica Renewables ties up with PFC for Rs 2,600 cr debt funding

Serentica Renewables on Thursday said it has tied up with PFC for a Rs 2,600 crore debt funding for its upcoming projects in Karnataka. In Karnataka, the company is setting up 400 MW of wind and solar capacities where it has already secured connectivity to the inter-state transmission system (ISTS). "The debt funding...will accelerate our journey towards supplying 40 billion units of clean energy annually to energy intensive industries and displacing 37 million tonne of carbon emissions," Pratik Agarwal, Director, Serentica Renewables said. Parminder Chopra, Chairman & Managing Director, PFC said, this transaction is in line with PFC's expanding role in funding green projects and positioning itself as the focal agency for energy transition. Established in 2022, Serentica Renewables (India) is a decarbonization platform that looks to provide clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. Serentica aims to provide assured

Juniper Green Energy gets $350 mn investment from AT Capital Group, Vitol

Juniper Green Energy on Wednesday said AT Capital Group and Vitol have invested USD 350 million in the independent renewable energy power producer. The Juniper Green Energy targets to triple its operational capacity to 2.5 GW by 2026 and forge ahead with its ambitious development plans. Sanjay Bakliwal, Director, at AT Capital Group said, "Their impressive project pipeline, combined with their proficiency in EPC and O&M services, aligns seamlessly with our vision for a sustainable and greener future." AT Group is a leading family office, specializing in actively managed businesses and passive financial investments. The increase in investment to USD 350 million comes nearly two years after the initial commitment of USD 200 million from AT Capital Group and Vitol, a company statement said. Mike Muller, Head of Vitol Asia, stated "We are pleased to support Juniper Green Energy's ambitions to deliver a growing renewable power portfolio at a time of increasing demand for power." Vitol

Global demand for fossil fuels to peak before 2030, says IEA director

Fatih Birol added that this is the first time that a peak in demand is visible for each fuel this decade, and it is earlier than most people anticipated

Open access solar capacity addition falls 3.6% to 712 MW in Apr-Jun: Report

The country recorded a 3.6 per cent decline in new installations of open access solar capacity to 712 megawatt (MW) in the June quarter, according to a report by Mercom India. India had added 739 MW of open access solar capacities in the year-ago period, the research firm said in its 'Q2 2023 Solar Open Access Market Report'. However, on a quarter-on-quarter (q-o-q) basis, the capacity addition was 24 per cent higher than the 577 MW in the January-March quarter, the report said. Open access enables consumers with more than 100 kW sanctioned load to buy cheaper power from the open market. In the January-June period, India added 1.3 GW of open access solar capacity, down almost 18 per cent compared to 1.6 GW installed in the year-ago period. "In the period under review, the green energy open access regulation has been a major enabler for increased solar capacity addition under open access, even though lack of uniform rules in states was a challenge. "Hybrid power projects with a ..

US DFC to invest $435 million in Tata Power's green energy subsidiary

The DFC invests in energy, healthcare, infrastructure, agriculture, and small businesses among other sectors

G20 aims to triple green energy capacity; no mention of fossil phase-out

G20 countries on Saturday said they will aim to triple global renewable energy capacity by 2030 and expedite efforts to phase down coal power in line with national circumstances but did not commit to a phase-out of all polluting fossil fuels, including oil and gas. The language on coal aligns with what was agreed upon in the previous G20 Summit in Bali, Indonesia. The bloc, which represents 85 per cent of the world's GDP and contributes 80 per cent of emissions, however, said it will uphold their 2009 promise made in Pittsburgh to eliminate and rationalise inefficient fossil fuel subsidies. According to a key technical report on the first-ever Global Stocktake published on Friday, scaling up renewable energy and phasing out unabated fossil fuels are indispensable elements of just energy transitions to net-zero emissions. The G20 is home to 93 per cent of the world's operating coal capacity (1,926 GW) and 88 per cent of (305 GW) the pre-construction coal capacity, according to a rep

EU to invest 4 bn euros in renewables sector in developing economies

Leyen said science tells us that we are about to miss our objective of limiting global warming to 1.5 degrees

Jakson Green order book reaches Rs 5,000 cr within a year of inception

Energy transition platform Jakson Green on Thursday said it has achieved an order book of Rs 5,000 crore renewable order book within a year of its inception. "Jakson Green, a new energy transition platform backed by India-based infrastructure and renewables conglomerate, Jakson Group, proudly announces its monumental achievement of amassing a renewable EPC order book of around Rs 5,000 crore within a year of inception," the company said in a statement. This extraordinary feat was recognised through a series of recent order victories in India, GCC, West Africa and CIS region, marking an unprecedented milestone in a remarkably short timeframe, it added. The company's ascent to this substantial order book has been driven by its success in securing pivotal utility-scale renewable EPC projects in West Africa, GCC and CIS countries, alongside a substantial array of renewable EPC contracts in India. Jakson Green recently inked significant deals with leading renewable energy developers to

Ireda partners with banks to boost renewable energy projects in India

Agreements with Union Bank of India and Bank of Baroda set to empower renewable energy projects

Centre sets Rs 4,350 cr as target for IREDA in operating revenues

In the previous financial year, Indian Renewable Energy Development Agency (IREDA) managed to achieve revenue from operations of Rs 3,482 crore, surpassing the target of Rs 3,361 crore

Power demand to grow 70% by 2032 with focus on non-hydropower renewable

India's power demand is expected to grow by more than 70 per cent over the next decade with a strong focus on non-hydropower renewable sources, a report said on Tuesday. The coal-powered generation will still account for a majority of production by 2032, illustrating the country's heavy reliance on the coal sector, BMI, a division of Fitch Group, said in a report. "We forecast India's electricity generation to grow by over 70 per cent over the next decade, marking the largest increase among the world's largest electricity producers. India will see a strong focus on non-hydropower renewable forms of electricity generation, which we expect to account for 16.9 per cent of total generation by 2032," it said. The strong long-term expansion of electricity demand will support power production growth, ensuring that power consumption demands are met. Underpinned by population growth, rising urbanisation as well as increased demand from the construction, manufacturing, and services sectors,

Bharti Airtel to purchase 23,000 Mwh of renewable energy in Q4FY24

Airtel will do this by acquiring stakes in two renewable energy project companies - Continuum Green India and Vibrant Energy Holdings

IREDA signs a pact with IIFCL to finance renewable energy projects

Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with India Infrastructure Finance Company Ltd (IIFCL), to finance renewable energy projects.As per Ministry of New and Renewable Energy, the MoU will empower IREDA and IIFCL to engage in Co-Lending / Co-Origination and Loan Syndication for all categories of Renewable Energy projects, including Small Hydro projects. Both organisations will strive to also fix interest rates for IREDA borrowings for a period of three to four years. Further, IIFCL may invest in the bonds issued by IREDA, as per the terms and conditions of the issue."The MoU was signed today by Chairman & Managing Director, IREDA, S Pradip Kumar Das and Managing Director, IIFCL, P R Jaishankar," the Ministry addedSpeaking on the occasion, CMD, IREDA said: "We are pleased to partner with IIFCL and offer our techno-financial expertise to IIFCL for the development of Renewable Energy sector. With this collaboration, we

Solar installations see 3.2% growth at 872 MW in January-June: Mercom

Rooftop solar installations in the country grew by 3.2 per cent to 872 megawatt (MW) during January-June period of 2023, Mercom India said. In H1 or first half of 2022, 845 MW of rooftop solar capacities were installed in India, the research firm said. India's cumulative rooftop solar capacity reached 9.6 gigawatts (GW) at the end June 2023, the 'Mercom India Rooftop Solar Market Report' said. In the second quarter, 387 megawatts (MW) of rooftop solar capacity was added, which is 20 per cent higher compared to January-March 2023, and marginally down by 0.5 per cent over April-June 2022. "Rooftop solar did not meet expectations in H1, even with falling component prices and growing demand. We see a much stronger second half as installers holding out for better margins start ramping up installations and meeting demand at a much quicker pace" said Raj Prabhu, CEO of Mercom Capital Group. The capacity additions by residential consumers accounted for 54 per cent, industrial consumers 25

Tata Power arm in deal with steel maker Sanyo to set up captive solar plant

Tata Power: The solar plant is projected to produce an annual electricity of 61.875 million units and will be likely commissioned by March 2024

Tata Power Renewable Energy inks pact with SSMI to set up 28-MW solar plant

Tata Power Renewable Energy Limited (TPREL) has partnered with Sanyo Special Steel Manufacturing India Private Limited (SSMI) to set up a 28.12-megawatt green energy plant in Maharashtra. In a statement on Thursday, TPREL, an arm of Tata Power, said it has signed the Power Delivery Agreement (PDA) with SSMI through its Special Purpose Vehicle (SPV) TP Alpha Limited. "TPREL joins hands with SSMI for setting up of 28.125 MW AC (39.375 MWp) captive solar plant in Aachegaon under district Solapur, Maharashtra," the statement said. The plant is expected to produce 61.875 million inits (MUs) of electricity annually, which would meet the energy requirement of steel manufacturing unit of SSMI. It will also help to reduce SSMI's carbon footprint by 42,534 tonnes annually. The project will be commissioned by March 2024, as per the arrangement. This project aligns with SSMI's long term strategy towards climate change by reducing dependency on fossil fuel-based energy, lower the carbon footp

ONGC to invest Rs 2 trn in energy transition projects, says chairman

State-owned Oil and Natural Gas Corporation (ONGC) will invest about Rs 2 lakh crore to achieve zero carbon emissions by 2038, its chairman Arun Kumar Singh said on Tuesday. The firm will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, green ammonia plant, and offshore wind energy projects, he told reporters here. The remaining would flow thereafter to achieve Scope-1 and 2 net zero carbon emissions. All this while it continues to hunt and produce more oil and gas. "It is not an 'or' strategy. It is an 'and' story. ONGC will continue to invest in oil and gas exploration and production and also in energy transition projects," he said. The company will pursue both simultaneously. "ONGC has enough heft, financial muscle to do both," he said. The company currently has 189 MW of capacity to generate electricity from renewable sources. It is targeting 10 GW by 2030. The firm already has signed MoU for 5 GW in Rajasthan and is scouting for projec