Page 46 - Renewable Energy

Shell agrees to buy Solenergi Power from UK-based Actis for $1.55 bn

Shell said its unit, Shell Overseas Investment, would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis

Rajasthan CM Gehlot describes power outage in country as 'national crisis'

Terming power outage a "national crisis", Ashok Gehlot expressed concern over the shortage of coal supply in the country and the simultaneous increase in electricity demand during summer

Renewable energy comes to rescue amid rising power demand: Official

The maximum pan-India power demand met or the highest supply of electricity in a day crossed the record level of 201-GW mark on Tuesday

India to meet half of its energy needs from renewable by 2030: NITI member

He was addressing the Norway-India Business Summit 2022 organized by CII in association with the Embassy of Norway

Sprng Energy nearing Rs 13,500 cr sale to Shell, agreement in two weeks

Shell was among the bidders for Sprng, along with Adani Group and renewable energy firm Greenko.

Inox Wind falls 7% after board approves fund raise via preferential issue

The board approved fund raise of Rs 402 crore through preferential issue of equity shares and convertible warrants to promoter and non-promoters.

Tata Power's renewable arm raises Rs 4k cr from BlackRock; stk crashes 7.5%

On Thursday, the Tata group's power unit on Thursday said it was raising Rs 4,000 crore (or $525 million) from a consortium of investors, including BlackRock and Mubadala, to scale up its renewable en

Reskilling of coal mine workers must for renewable transition: Report

The country needs a strong action plan to reskill coal mine workers in order to protect their interests while making a transition from conventional fuel to renewable energy usage, a report said on Thursday. India's power sector is one of the most diversified ones in the world. The country's thermal power generation by coal accounts for 62 per cent of its total generation capacity, a joint report of EY, SED Fund and FICCI said. It also noted that India has been consistently working at a global level to reduce emission intensity to attain its net-zero target for 2070. "For the transition from conventional to clean fuel-based energy generation, it will be imperative to protect the interests of coal mine workers through a holistic approach, and a strong skill action plan is needed to transition from coal to renewable energy," said the report titled as 'Skill action plan to fuel transition from coal to renewable energy in India'. Somesh Kumar, Partner and Leader, Power & Utilities, EY .

21 of the 34 states and UTs record rise in discom dues in last two years

Independent power producers and renewable energy providers account for three-fourths of owed amount

Gujarat tops NITI Aayog's Energy and Climate Index chart Round I

Gujarat amongst the larger states and Goa amongst the smaller states have topped the NITI Aayog's Energy and Climate Index, the Round I for which was launched on Monday here

LNG price volatility a cause of concern for consumers: Nakul Raheja

We see a very bright future for gas in India, said Shell Energy India's Raheja, In terms of long term LNG prices, volatility has been a lot less

Japan's Mitsui to take 49% stake in ReNew Power's power project

Japanese conglomerate Mitsui has agreed to take a 49 per cent stake in ReNew Power's round-the-clock renewable power project, the Indian firm said on Wednesday. ReNew signed a 400 MW Round-The-Clock (RTC) PPA last year to supply electricity to the Solar Energy Corporation of India (SECI). For the 400 MW PPA (Power Purchase Agreement), the company will install 1,300 MW of renewable energy capacity and up to 100 MWh of battery storage. "ReNew Power has finalised a partnership with Mitsui & Co Ltd, a leading global general trading and investment firm. "The partnership will see Mitsui invest in the RTC renewable energy project being developed by ReNew," the company said in a statement. It did not give the financial details about the deal. The RTC project will consist of three newly-built wind farms and one solar plus battery storage farm (1,300 MW in total plus up to 100 MWh battery storage) across the states of Rajasthan, Karnataka, and Maharashtra, and provide 400 MW of electricity

Tata Power Renewables commissions 300MW solar plant in Gujarat

"It is India's largest single-axis solar tracker system," a company statement said.

Unsettling the energy mix, clawbacks

The energy markets are in a flux and the ideal mix is changing.

Hindustan Zinc to invest Rs 350 crore to develop 200 MW renewable capacity

Mining firm Hindustan Zinc Limited (HZL) on Thursday said it will invest Rs 350 crore to develop up to 200 megawatt (MW) renewable energy capacity through a special purpose vehicle.

DVC, NTPC establish joint venture for renewable power projects

DVC will hold 49 per cent and NTPC Renewable will hold 51 per cent in the JV

Govt mulls exempting some projects from solar import taxes

'We have requested Ministry of Finance to consider grandfathering of basic customs duty for projects bid out before March 9, 2021,' the renewable energy ministry said

ArcelorMittal, Greenko to set up $600 mn renewable energy project

Project will be owned and funded by ArcelorMittal, will enable AM/NS India to prune power costs and carbon emissions

Suzlon Energy awaits shareholder approval for a third bailout package

The new lenders are bailing out the company by infusing additional funds and converting their loans worth Rs 4,100 crore into equity

ArcelorMittal ties with Greenko Group to develop a 975MW RE project

Global steel and mining firm ArcelorMittal on Tuesday announced its strategic partnership with Greenko Group for developing a round-the-clock renewable energy project with 975 MW of nominal capacity.