Page 2 - Renewable Power

NTPC plans to take green energy arm public in FY24-25, says official

The state utility also plans to add 4 to 5 gigawatts (GW) of renewable power and 3 GW of coal-fired power capacity during the same period, said the executive

Committed to achieve 50% of renewable power sources ahead of 2030: Official

India is looking to achieve the target of 50 per cent of its total power capacity coming from renewable energy ahead of its stated timeline of 2030, a senior government official said on Friday. Out of a total capacity target of 500 gigawatt from non-fossil sources, 485 gigawatt is being envisaged to come from renewable energy (RE), Secretary at the Ministry of New and Renewable Energy, Bhupinder Singh Bhalla said. Speaking at the Vibrant Gujarat Global Summit here, he said, "Our share of renewable energy in the total energy has increased substantially. Now it's over 42 per cent of India's total energy capacity and that is significant." He further said, "We are committed to achieve 50 per cent of the capacity by 2030 and we are on path to achieve that and we hope to do that much earlier than 2030." Bhalla said India's RE capacity has increased from about 76 gigawatts in 2014 to 180 gigawatts at present. "The target is of 500 gigawatt of non-fossil capacity, out of which we will hav

Ambuja Cements to set up renewable energy unit for Rs 6,000 crore

Company to set up a 1,000 Mw renewable power unit; investment to encompass projects in Gujarat, Rajasthan

Ambuja Cements to invest Rs 6,000 crore in renewable power projects

Earlier this month, ACL announced to complete acquisition of Sanghi Industries Limited (SIL) at an enterprise value of Rs 5,185 crore

Suzlon secures order for 3 MW series turbines from Juniper Green Energy

Under the terms of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including, the erection and commissioning

Call for fossil fuel phase-out on global stocktake agenda: UN report

Calls to phase out unabated fossil fuels, reform subsidies on it and triple global renewable energy capacity may find their way into the outcome of the first-ever global stocktake, a periodic assessment of collective efforts to achieve the Paris Agreement goals. Initiated in Glasgow in 2021, the first-ever global stocktake will conclude at the annual climate talks (COP28) in Dubai in December. The United Nations Framework Convention on Climate Change (UNFCCC) recently released a report summarising submissions made by countries and non-party stakeholders regarding the political response to the global stocktake. "They will inform negotiations but there's no guarantee any particular element will make it into the final text. With that said, fossil fuel phase-out is prominently featured in this long list of possible decision elements," Natalie Jones, a policy advisor at climate policy think tank International Institute for Sustainable Development (IISD), said. According to the UNFCCC ..

Suzlon bags 201.6 MW wind energy project order from Teq Green Power XI

Renewables solution provider Suzlon Group on Friday announced that it has bagged a large order for a 201.6 MW wind energy project from Teq Green Power XI, a part of O2 Power. However, the company did not disclose the value of the order in its statement. "Suzlon will supply the wind turbines (equipment supply) and execute the project including erection and commissioning," a Suzlon statement said. The company will also provide operation and maintenance services post-commissioning. "Suzlon Group today announced a significantly large new order acquisition for its 3 MW series of wind turbines from Teq Green Power XI Pvt Ltd, part of O2 Power Pvt Ltd," it stated. The Suzlon will install 64 of its largest wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each for the 201.6 MW wind power project. The project is expected to be commissioned in 2025. Girish Tanti, Vice Chairman, Suzlon Group said, "We are delighted to welcome Teq Green

On course to develop round-the-clock renewable power: Tata Power CEO & MD

The company's consolidated revenue for Q1FY24 was Rs 15,003 crore, reflecting a minimal increase of 2 per cent

Renewable energy to rise owing to solar power, high fuel prices: Report

The rollout of solar and wind power installations, which are anticipated to reach 440 gigawatts in 2023, has been boosted by high fossil fuel prices, the report said

'Developers to face action for power project delay', says R K Singh

'65% of energy capacity to come from renewables by 2030'

Sterlite Copper to source hybrid renewable power from Serentica Renewables

The PDA will remain in effect for 25 years starting from the date of the commissioning of the project, with targeted wheeling scheduled for August 2024

Govt to add 50 GW renewable energy capacity to achieve 500 GW target

India currently has a total renewable energy capacity of 168.96 GW (as on February 28, 2023) with about 82 GW at various stages of implementation and about 41 GW under tendering stage

From Uttar Pradesh to Madhya Pradesh, the 'greening' of investor summits

Renewable power project proposals are beginning to make their presence felt in state investment meets

NTPC, Tata Motors: Analysts bet on renewable energy stocks for long-haul

Analysts see the renewable energy sector as a long-term structural play given the growing climate awareness and the government's efforts towards adoption of green energy sources

Must not promote restriction on energy supply: PM Modi at Bali meet

Modi holds talks with Biden, Sunak, Macron

Coal crisis, supply crunch hasten metal makers' switch to renewable energy

The increased expenses slashed profits of some of the biggest mills in India at a time when commodity prices were rallying to multi-year highs

India, Maldives plan interconnection for transferring renewable power

Singh appreciated the resolve of Maldives government to achieve net zero emission target by 2030, according to a power ministry statement

India adds 13.5 GW of renewable capacity in FY22, 12% higher than last yr

India added 13.5 GW of renewable energy capacity in 2021-22, which is 128 per cent higher than that in 2020-21, a statement said on Thursday.

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

ReNew Power raises $400 million from global debt investors

The money will be used to refinance existing high-cost debt and fund capital expenditure