BUSINESS
MC Exclusive | ReNew to take up green hydrogen projects in India first, overseas plans may have to wait: Sumant Sinha
The company's CEO says that this means plans for an $8-bn, 22,000-tonne green hydrogen plant in Egypt's Suez Canal Economic Zone will be put on the back burner.
BUSINESS
At 11.4 GW, India's coal proposals hit record high since 2016: Global Energy Monitor
Along with the government’s pledge to double coal production within the next four years, these developments make it clear that, despite recent progress toward increasing India’s renewable energy capacity, the country has no intentions of phasing coal down or out, the report stated.
BUSINESS
ReNew crosses 10GW of gross renewable energy assets in India
Sumant Sinha, founder, chairperson and CEO of ReNew, said the company will double its renewable energy asset portfolio to 20 GW by 2027-28
BUSINESS
Exclusive: Patel Engineering’s order book to hit Rs 25,000 crore in FY25, says CFO Kavita Shirvaikar
Shirvaikar said the company’s key forte will continue to be hydropower projects for years to come with its share not going below 50 percent. She added that Patel Engineering will expand its base in the pumped storage, irrigation and water supply sectors.
BUSINESS
Increasing nuclear power capacity key to meet 2070 net zero target: Govt report
The study also found that despite India's net zero ambitions and initiatives toward achieving the goal, coal will continue to be the backbone of Indian energy system for the next two decades.
BUSINESS
NTPC becomes first CPSU to invite bids for setting up concentrated solar power plant
On March 14, Moneycontrol was the first to report that the Union government is planning to bring in concentrated solar power systems for large renewable energy parks or farms.
BUSINESS
MC Newsbreak Confirmed: Govt asks gas-based power gencos to step up for summer demand; mulls mandate under Section 11
Moneycontrol on March 22 was the first to report that the Union government is pushing power generation companies (gencos) to buy gas and scale up electricity generation from stranded or underutilised gas-based power units.
BUSINESS
India aims for 24x7 power for all but what lies ahead for rural electrification?
In December 2014, the government of India launched the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) with the objective of electrifying all un-electrified villages as per the Census of 2011, which is the latest report covering the demographic, social, and economic data of India.
BUSINESS
ALMM support will help India become the next big solar manufacturing hub: Experts
Of the 500 GW non-fossil source based electricity generation capacity planned by 2030, the government aims to generate at least 300 GW solely through solar power.
BUSINESS
India's power demand begins to rise as some states witness heatwave conditions
On March 28, coal fired power plants contributed 77% to India's energy mix, while renewable energy contributed only 11%
INDIA
NHPC inks loan agreement of JPY 20 billion with Japan Bank for International Cooperation
The RE projects include a 300 MW solar power project in Bikaner being developed under the CPSU 1000 MW Scheme, wherein Central Public Sector Undertakings (CPSUs) implement grid connected solar projects with a viability gap funding (VGF) offered by the Centre.
BUSINESS
Baltimore bridge collapse incident unlikely to impact coal prices for India: Experts
India primarily imports thermal coal from South Africa and Indonesia, and average prices from these countries decreased by approximately 54 percent and 38 percent respectively during April 2023 to January 2024 as against a year ago.
BUSINESS
Bullish on India for the opportunities it offers, says US Ambassador Eric Garcetti
The friendship between the leaders is most consequential in a world of aligned democracies, US Ambassador to India Eric Garcetti said on India-US relationship
BUSINESS
ACME to invest at least $3 billion in green ammonia projects in FY25: Group President
The renewable energy company plans to build a portfolio of about 10 million tonnes of green ammonia or its equivalent in hydrogen production by 2030.
BUSINESS
Exclusive | Sweden keen on providing green solutions for India's hard-to-abate industries, says Swedish ambassador
Sweden is working with leading Swedish and Indian companies, agencies, and other key stakeholders for accelerating the pace of green transition by sharing expertise and industry knowledge through technical workshops, networking activities and dedicated meetings between key stakeholders from India and Sweden.
BUSINESS
Exclusive: Govt plans to increase uptake of gas-based power to meet peak summer demand
Overall, the government is looking to tap capacity of 16,200 MW, of which 10,000 MW is the biggest challenge as they are owned by private entities and state governments. The remaining 6,200 MW are Central government-run plants, which are already operating up to 3,200 MW currently.
BUSINESS
JSW Energy acquires 45 MW wind project of Reliance Power for Rs 132 crore
The transaction values the project at Rs 132 crore adjusted for net working capital
BUSINESS
Is India ready to meet this year’s summer power demand?
Railways is also likely to increase its rakes to the power sector by about seven percent, but if the power demand continues to surge at a CAGR of 8-10 percent or more, then even an increase in coal production will not help due to logistical constraints. Besides, rising night-time peak demand remains a major concern in the absence of renewable energy with storage.
BUSINESS
Imported coal for blending in power sector drops 28% in FY24
Pralhad Joshi, Union minister for coal, said that coal ministry will increase its production and the railways ministry is likely to increase the number of rakes provided to the power sector by about 7% to meet the surge in power demand
BUSINESS
Financial deficit in power distribution sector rose 79.5% in FY23: Power Ministry
The growth in power demand and global geo-political challenges resulted in an unprecedented increase in national power purchase costs of 71 paise per unit in FY23, as compared to the marginal increase of 4 paise / kWh in FY22 v/s FY21, the report of the Ministry of Power stated.
BUSINESS
Adani Electricity Mumbai tops Centre's discom ranking ; Torrent Power takes 2nd, 3rd spot
The aggregate technical and commercial losses of power utilities during the year fell from 16.2% to 15.4%, driven by a one percentage point increase in billing efficiency, which improved to 87%
BUSINESS
Exclusive: Plans afoot for 15 GW rooftop solar capacity in govt, commercial and industrial buildings
The government will soon start a pan-India survey to assess the final potential of solar panel installations in both state and central government buildings.
BUSINESS
We need to re-skill women for greater participation in the clean energy space: Vaishali Nigam Sinha
Sinha says that perhaps women from the coal sector can be re-skilled to become technicians in RE projects. ReNew has re-skilled salt pan workers to work as solar technicians.
BUSINESS
Breaking the energy barrier: How women leaders are powering the sector
Despite making up about 39% of the global labor force, women account for just 16% of the energy sector workforce, according to International Energy Agency.
