Page 7 - Renewable Enrgy

India best bet for 21st century, solar revolution golden chapter: PM Modi

Prime Minister Narendra Modi on Monday said his government in the first 100 days of its third term had tried to address every sector and factor for rapid progress of the country. Addressing the 4th edition of Global Renewable Energy Investors Meet and Expo (RE-INVEST 2024) in Gandhinagar, he said not just Indians but the entire world feels India is the best bet for the 21st century. "In the first 100 days (of the Union government's third term) you can witness our priorities, speed and scale. We have tried to address every sector and factor which are required for rapid progress of the country," the PM said. "India's diversity, scale, capacity, potential and performance are unique and that is the reason I say Indian solutions for global application," he added. India is preparing the base for development for the next 1000 years and the focus is not just to reach the top but to sustain the rank, Modi asserted. "For us green future and net zero are not just fancy words. These are ...

PM inaugurates 4th Global Renewable Energy Investor's Meet in Gandhinagar

The three-day conference is anticipated to draw over 10,000 delegates, including influential figures from government, industry, and financial sectors

Adani Green redeems $750 mn bonds eight months ahead of redemption date

Adani Green Energy Ltd (AGEL), the renewable energy arm of the ports-to power conglomerate run by billionaire Gautam Adani, on Monday said it has redeemed USD 750 million worth of bonds as it deleverages business. In a statement, the firm said it has completed "redemption of all outstanding USD 750 million 4.375 per cent Holdco Notes due on September 8, 2024." The move is in step with its January announcement of a plan to redeem the USD 750 million worth of notes, eight months ahead of the redemption date. Issued in September 2021, the three-year Holdco Notes supported AGEL's high-growth objectives. During the period, AGEL's capacity has increased more than three-fold - from 3.5 gigawatt (GW) to 11.2 GW, registering a CAGR (compounded annual growth rate) of 48 per cent. The company had in January stated it would pay USD 169 million from its reserves and internal accruals, and USD 300 million from the consideration from a joint venture with TotalEnergies Renewables. The remaining US

TotalEnergies to make further $444 mn investment in JV with Adani Green

The statement said the new JV company will house a 1,150-megawatt (MW) portfolio, which will comprise a mix of operational and under-execution solar assets, with a blend of both merchant-based and PPA

After nearly 300% rise in 1 year, does Suzlon stock have more upside left?

Suzlon share price today: From a level of Rs 20.25 seen on August 16, 2023, Suzlon share price has zoomed 295 per cent in one year to quote at Rs 79.93 per share as on Friday

Data centres turn to renewable energy sources as power demand surges

Data centres procure electricity at commercial rates in a state, which usually falls within the highest power tariff slab

'Scaling up not a challenge for us anymore' : Waaree Renewable Tech CFO

Order book at 2.1 GW for next 9-12 months, bidding pipeline at 15 GW for solar EPC major

About 151 GW green capacity under implementation in India: Pralhad Joshi

Renewable energy projects of about 151 GW capacity are under various stages of implementation in the country, Union Minister Pralhad Joshi has said. The Minister for New and Renewable Energy further said that around 76.42 GW of renewable energy capacity will be operationalized in next 3-4 years. "The government is taking several initiatives to prioritise renewable energy. Nearly 151 GW of renewable projects are being implemented, and 76.42 GW will be operationalized in 3-4 years," he said addressing a session at 'Mercom India Renewables Summit 2024' in the national capital on Friday. The tendering process for 76.42 GW capacity of projects has already been completed, the minister said. The renewable energy capacity has increased over 2.5 times from 76 GW in 2014 to more than 195 GW as of June 2024, Joshi said. The solar power capacity witnessed a steep jump from just 3 GW in 2014 to more than 85 GW now while wind power capacity increased from 21 GW to more than 46 GW, the minister

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Sterling and Wilson Renewable Energy reports Rs 4.8 cr profit in Q1 profits

Sterling and Wilson Renewable Energy Ltd on Thursday posted a net profit of Rs 4.83 crore for the June quarter. It had clocked a net loss of Rs 95.32 crore in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 927.89 crore from Rs 522.35 crore in the same quarter a year ago. The expenses stood at Rs 913.23 crore during the quarter as against Rs 617.68 a year earlier. In a statement, Sterling and Wilson Renewable Energy Group Global CEO Amit Jain said, "We are well-positioned to continue this upward trajectory and deliver enhanced value to all our stakeholders." The company's current order book stands at Rs 2,170 crore, while net debt was at Rs 97 crore. Sterling and Wilson Renewable Energy Ltd is an end-to-end renewable engineering, procurement, and construction solutions provider for utility-scale solar, floating solar and hybrid and energy storage solutions.

Experts predict Budget to boost clean energy investments with new measures

The government is expected to announce a slew of measures in the full Budget for fiscal year 2024-25 to promote investments in the renewable energy space, experts say. Finance Minister Nirmala Sitharaman will present the 2024-25 Union Budget in Parliament on July 23. Their expectation is that the government may announce policy-related measures, viability gap funding (VGF) and incentive schemes for the clean energy industry, the experts said. "We expect the focus of the budget to remain green growth based... We expect the budget to focus more on renewables, storage, transmission and distribution network strengthening schemes. "We expect policy measures to incentivise, and to encourage investments in (battery) storage groups," Girishkumar Kadam, Senior Vice President & Group Head - Corporate Ratings, ICRA Ltd said. There is a slow progress being witnessed in pumped storage projects (PSP) space. Some policy bridges need to be announced to expedite the implementation of these projects

L&T bags Rs 10-15K cr order to build two solar plants in West Asia

Proposed plants will have a cumulative capacity of 3.5 GW, the Indian engineering giant said. The work on the projects will commence soon

Shell to pause construction work at Dutch biofuels project as market sags

It is rare for companies to suspend development of projects underway. Rival BP last week said it is pausing two biofuel projects in Germany and the United States

Top 5 renewable energy business ideas for 2024; check the list below

The global shift to renewable energy sources has given rise to huge business opportunities. Here are the top 5 renewable energy business ideas 2024

GP Eco Solutions: This SME IPO has zoomed over 300% on debut on the NSE

GP Eco Solutions made a stellar stock market debut, with its shares got listed at Rs 375, a whopping 299% against its issue price of Rs 94 per share on the NSE.

Suzlon denies any financial irregularity as independent director quits

Renewable energy solutions provider Suzlon Energy on Monday clarified that there are no financial irregularities or compliance violations within the organization, following the resignation of its independent director Marc Desaedeleer. Desaedeleer resigned on Saturday and raised corporate governance issues within the company in his resignation on June 8, 2024, as per a BSE filing. In the resignation Desaedeleer said, "I am very pleased with the operational and financial performance recorded by the company over the last eighteen months. But, over the same period and including recently, several situations occurred where the corporate governance standards applied by the company did not meet my expectations including situations where communications lacked the level of openness and transparency, I would have liked to see." He further said "we discussed several of these situations, some were shared with board members, and I sent you recently a note covering these situations with the hope .

Renewables, transmission to fuel power sector investment: Moody's

India needs $190-215 bn for 500 Gw renewable goal by 2030

Sterlite Power gets stakeholders' nod to demerge transmission business

Sterlite Power Transmission Ltd (SPTL) on Thursday said it has received shareholders' nod to demerge its transmission business. The demerged transmission infrastructure is to be housed under Sterlite Grid 5 Ltd, and the global products and specialised EPC services will continue to remain under SPTL to pursue independent growth strategies. "Sterlite Power receives stakeholders' approval for demerger of transmission business from SPTL. The vote on the demerger proposal received 100 per cent approval from secured creditors, 99.26 per cent approval from unsecured creditors, 99.99 per cent from equity shareholders present and voting, and 100 per cent by the non-fund-based lenders," the company said. The simplified structure will allow each entity to attract capital pool tailored to its requirements. The transmission business can target long-term, patient investors seeking predictable cash flow, while SPTL, focusing on Global Products & Services (GPS) business, can attract capital ...

France less attractive for renewable investment, says TotalEnergies

France hopes to have 45 gigawatts (GW) of offshore wind in operation by 2050 to achieve carbon neutrality

New economy, old habits

There is no doubt that the world needs to move with speed and at scale. But what will be the business model that we take to the new green world?