BUSINESS
MC Exclusive | All transformers have to be metered by March 2024: RK Singh
As on date, about 40 percent distribution transformer metering has been done and for feeder lines, the status is a bit better at about 80 percent, Singh said. He added that the government is also modernising its feeder monitoring system.
BUSINESS
MC Exclusive | Govt lowers price cap at power exchanges to Rs 10 per unit
Besides, the Central Electricity Regulatory Commission (CERC) has also slashed the price ceiling for the high price day ahead market (HP-DAM) from Rs 50/kWh to Rs 20 per unit, the latest CERC order accessed by Moneycontrol showed. Both the revised price caps came into effect from April 4.
BUSINESS
MC Interview | Shifting from pure solar power to hybrid and green hydrogen projects: Amplus Solar CEO
Sharad Pungalia, CEO and MD, says the company’s first inter-state transmission system project in Rajasthan will be commissioned in the fourth quarter of this FY24. The company also plans to set up new renewable energy units of up to 700 MW in FY24, from 150 MW in the last financial year, he says.
BUSINESS
MC Exclusive | No inter-state transmission charges up to December 2055 for green hydrogen projects: Govt order
Production of 1 kg of green hydrogen requires 55-60 kWh of renewable energy. Therefore, a Rs 1/kWh increase in the delivered cost of RE would increase the production cost of green hydrogen by Rs 60 per kg (or $0.75/kg), the order accessed by Moneycontrol stated, explaining why the extension of waiver was necessitated.
BUSINESS
Govt targets 1.2 MMT green hydrogen annual production in first three years of incentive programme
The maximum incentive for green hydrogen production will be Rs 50 per kg, which will come down to Rs 30 per kg in the third year. For electrolyser manufacturing, the incentive will be offered for the first five years with the government also suggesting a possible performance multiplier matrix to reward lower energy consumption and penalise higher energy consumption to push high efficiency electrolysers.
BUSINESS
India to get 7,000 MW from nuclear power by 2031 as govt grants bulk approval to reactors
As per the Central Electricity Authority data, till March 2022, India had an installed nuclear power capacity of 6,780 MW, which is just 2 percent of the total energy (thermal, hydro, renewables) mix in the country.
BUSINESS
MC Interview | NTPC expects to add ‘significant’ renewable energy capacity in FY24: NTPCREL CEO
Mohit Bhargava, CEO of NTPC Renewable Energy Ltd, said the company did about 1.4 GW of new renewable energy capacity addition last year and has about 17-18 GW in the pipeline as of now.
BUSINESS
India will manufacture 100 GW solar PV modules by 2026-end: MNRE Secretary
India has set an ambitious target of having 500 GW of renewable energy capacity by 2030, for which Bhalla said the government has decided to award 50 GW of renewable energy projects every year starting FY 2024.
BUSINESS
Mumbai has to cough up 5-10% more for power from this month
The increased tariffs will be applicable from April 1. Not just this, the MERC has also approved even steeper power tariff hikes for the next financial year (2024-25) that range from an average of 2.1 percent to 21 percent.
BUSINESS
MC Exclusive | REC Ltd's loan portfolio in renewable energy to touch Rs 2.4 lakh crore by 2030, says CMD Vivek Dewangan
REC Ltd will also start financing pumped storage, green hydrogen and green ammonia projects. Apart from the 51 transmission projects, another 16-18 projects will be handed over to successful bidders in the next six to eight months, added the chief of REC.
BUSINESS
JSW Energy completes acquisition of Mytrah Energy's renewable energy assets
The Mytrah portfolio of 1,753 MW comprises of 1,331 MW of wind capacity and 422 MW (487 MWp DC) of solar capacity operating primarily in the southern, western and central parts of India.
BUSINESS
No import, India to start exporting coal from 2025-26: Coal minister Pralhad Joshi
Data from the coal ministry showed that from about 50 auctioned coal mines under the private sector since February 2020, at least three have become operational. Overall, since 2019, about 27 coal mines, across all sectors, have been operationalised so far.
BUSINESS
MC Exclusive: India's electricity demand growing at 10.5% is unprecedented: RK Singh
Despite record coal production, in April-May 2022, many states in the country faced hours of outages because of an unrelenting surge in power demand due to heatwaves, rapid economic recovery, and shortage of coal to generate power.
BUSINESS
MC Exclusive: India way ahead of time in renewable energy expansion, says Union Minister RK Singh
As per current laws set by the ministry of power, distribution companies, open access consumer and those with captive power are mandated to have about 22 percent of their total electricity sourced from renewables
BUSINESS
MC Exclusive: Kandla and Tuticorin to be India's first green hydrogen ports: RK Singh, India's minister for power and renewable energy
Trajectories are being worked out to blend green hydrogen in the city gas network and to mandate steel plants, refineries and fertiliser companies to use green hydrogen, Singh told Moneycontrol.
BUSINESS
MC Exclusive: Well prepared to handle the next spurt in power demand: RK Singh, Union minister for power
Trajectories are being worked out to blend green hydrogen in the city gas network and to mandate steel plants, refineries and fertiliser companies to use green hydrogen, Singh told Moneycontrol.
ENVIRONMENT
Power producers may soon be penalised for defaulting on biomass co-firing target: Power Secy
The power secretary said the government is also mulling over creating an intermediary government company to facilitate the procurement of biomass and develop a supply chain for the biomass pellet sector.
MCMINIS
SAUBHAGYA scheme: What has been the impact?
The rural-electrification scheme was launched in 2017
BUSINESS
7 hydropower projects with 3,110 MW capacity to be commissioned in FY 24
It is the Northeast that the government is looking to tap into in a big way. At least 5,000 MW of installed hydroelectric power is under construction and more projects are being discussed in the region parts of which border China
ENVIRONMENT
IPCC report urges renewable energy and efficiency to mitigate climate crisis
The report stated that energy efficiency and renewable energy are the most affordable path to faster emission reduction. Scientists in the IPCC said that as per their study, providing energy access to low-income sub-Saharan Africa could be one of the highest return opportunities for developed countries.
BUSINESS
Most likely to overshoot 1.5°C global warming limit: Major UN report on climate change
India welcomed the report, but it also highlighted that it talks about the need for increased climate funding and reminded the $100 billion promise made by the developed countries to the developing nations.
BUSINESS
NTPC green venture teams up with Indian Oil for renewable energy projects
Through the JV, NTPC plans to help IOCL set up RE projects to the tune of 2.8-3 GW, a senior NTPC official told Moneycontrol. The renewable energy produced through these projects will be used to power IOCL's refineries.
BUSINESS
India's power sector owes coal mining PSUs Rs 20,342 crore
The dues owed to CIL have increased by almost 25 percent compared to last year. It is crucial to make prompt payments to the coal sector to guarantee a continuous supply of this fossil fuel to thermal power plants, particularly as India prepares for peak summers and the demand for power is anticipated to reach 230 GW.
BUSINESS
Centre lifts investment cap for green power wing of NTPC
The development comes at a time when Malaysia's Petronas has offered Rs 3,800 crore to buy a 20 percent stake in NGEL. The company has 15 RE assets of 2,861 MW which are operational/nearing Commercial Operation Date.
