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.
BUSINESS
Cabinet clears listing of IREDA through part-sale of government holding
The decision was taken due to change in IREDA's capital structure following infusion of capital to the tune of Rs 1,500 crore by the Government in March, 2022. The IPO will also create additional employment opportunities, the government said
MCMINIS
What are India's pilot green-hydrogen projects?
BUSINESS
India’s missed solar power target may bite hard as power demand soars in summer
The solar sector is finding it tough to meet targets as it faces policy headwinds. Besides, a plethora of grid norms are also increasing project costs.
INDIA
Andaman authorities issue strict rules on power consumption amid blackouts
Due to the geographical and topographical peculiarities of Andaman and Nicobar Islands, including separation by sea over great distances, there is no single power grid for all the electrified islands and instead a power house caters independently to the power requirements of an area.
BUSINESS
NTPC to import 5.4 million tons of coal to meet growing summer demand
The Union power minister also informed the Upper House that Railways has taken steps to purchase one lakh wagons for coal transportation
POWER
NTPC arm to buy 4-GW gas-based power to meet demand in 'crunch period'
As per the tender document reviewed by Moneycontrol, the last date for submission of bids is March 23. The minimum guaranteed offtake during the identified crunch period shall be 1209.6 MU. Any offer of less than 50 MW by a bidder will result into non- responsiveness of bid, it stated.
BUSINESS
Solar Boost: Govt lifts ALMM mandate for projects commissioned by March 2024
The move is significant as India aims to have 280 gigawatts (GW) solar power installed capacity by 2030, which means the country needs to add about 27 GW annually. At present, India has an installed solar capacity of 63.89 GW.
