Energy Consumption

Datta Power Infra on Wednesday said it has signed an initial agreement with the Rajasthan government to invest around Rs 5,000 crore in the renewable energy sector. The memorandum of understanding (MoU) was signed between company representatives and officials of the state government in Jaipur, Datta Power Infra said in a statement. Datta Power Infra looks to set up 1,000 MW renewable energy capacity, including solar, wind and hybrid projects. The projects across across Bikaner, Jaisalmer, Barmer, Nagaur, Pratapgarh and Jodhpur districts would generate jobs for 500-750 people, the company said. Datta Power Infra CFO Rajeev Kumar Bansal said, "As we embark on a transformative journey with our investment of Rs 5,000 crore in Rajasthan's wind, solar, and wind-solar hybrid projects, we are positioning ourselves to drive sustainable growth while contributing significantly to India's renewable energy capacity.

The crane, built by heavy lifting firm Mammoet for tens of millions of dollars, is among the latest bets that rising energy consumption will require huge new equipment for years to come

KPI Green Energy on Monday said it has received letters of intent for 13.30 MW of green energy projects. The company said its wholly-owned subsidiary Sun Drops Energia will develop the projects, according to a regulatory filing. "KPI Green Energy has received Letters of Intent for executing solar power projects with a cumulative capacity of 13.30 MW under the Captive Power Producer (CPP) business segment of the company," it said. The projects are scheduled to be completed in the financial year 2024-25, in various tranches, it said.

The global corporate funding in the energy storage sector more than doubled to USD 15.4 billion during the January-July period, according to Mercom Capital. The investments include Venture Capital (VC) funding, debt financing, and public market financing, the US-based research firm said in its latest report. "Corporate funding for energy storage companies in the first half of 2024 reached USD 15.4 billion across 64 deals, up 117 per cent over USD 7.1 billion in 59 deals in H1 2023, driven by a strong first quarter," said the 'Funding and M&A Report for Storage & Grid'. VC funding for energy storage companies in H1 2024 came to USD 2.4 billion in 48 deals, a 37 per cent increase compared to USD 3.8 billion in 43 deals in H1 2023, Mercom said. Lithium-ion-based battery companies received the most VC funding in H1 2024. Other top funded categories included Battery Recycling, Metal-Hydrogen Batteries, Materials and Components providers, and Sodium-based battery companies, the ...

India's end-use energy consumption is set to grow by 90 per cent by 2050 -- one of the fastest growth rates in the world, Russian oil giant Rosneft CEO Igor Sechin said. Sechin, Chief Executive Officer of Rosneft, Russia's biggest oil producer, addressed key global business and political leaders at the Energy Panel of the 27th St. Petersburg International Economic Forum (SPIEF), according to a statement by the company. In his keynote speech titled "Energy transition and phantom barrels", he provided a comprehensive analysis of the current state of the energy market and highlighted key challenges facing the industry. "Over the next five years, India is projected to continue its strong economic momentum and become one of the top three largest economies in the world with a GDP of USD 5 trillion, and by 2050 will overtake the US in terms of the size of the economy," he said. He added that India's end-use energy consumption is set to grow 90 per cent by 2050, registering one of the fast

Reliance Industries Ltd's technology partnership with Norway's Nel ASA will help accelerate its new energy investments, including in the production of green hydrogen that will aid billionaire Mukesh Ambani's pivot towards green energy. Reliance (RIL) on May 21 entered into a technology licensing agreement that provides the company with an exclusive license for Nel's alkaline electrolysers in India and also allows it to manufacture the Norwegian company's alkaline electrolysers for captive purposes globally. "We see this as a win-win for RIL and Nel as it supports RIL's ambition to accelerate its new energy ambitions, build an integrated energy vertical (new energy powering existing energy investments) and decarbonise the portfolio," brokerage Morgan Stanley said in a note. For Nel, it provides a revenue stream that it could not access on a standalone basis in India and may provide a new revenue stream that will not solely depend on the company's ability to execute on securing new ..

The production, distribution and usage of hydrogen will help "meet the country's national targets for climate change, green growth and to meet its net zero target by 2050," the document said

India's fuel consumption rose 8.2% year-on-year last month, government data showed earlier this month

Union Power and New & Renewable Energy Minister R K Singh on Tuesday said India will not compromise on meeting growing energy demands of the Indian economy, but will develop generation capacity with responsibility. Addressing an inauguration of a power pavilion set up by Ministry of Power at the ongoing India International Trade Fair 2023 here, he said it is the developed countries who need to cut down their emissions first. The minister spoke about India's position in the wake of the upcoming COP28, the 2023 United Nations Climate Change Conference. Singh said it is the developed countries who need to cut down their emissions first. "Around 85 per cent of the carbon dioxide load in the atmosphere is due to the path of industrialisation followed by developed countries. India's population is 17 per cent of the world population, while our contribution to carbon dioxide load is only 3.5 per cent." Even now, our per capita emissions are one-third of world average, while that of ...

Tata Power Delhi Distribution Ltd (TPDDL) on Tuesday said it has signed an agreement with IIT-Roorkee to conduct research and develop solutions for optimal use of energy. The Memorandum of Understanding (MoU) was signed between TPDDL CEO Ganesh Srinivasan and M K Singhal, Head of Department, Hydro and Renewable Energy at IIT Roorkee. "TPDDL and IIT Roorkee signed a MoU to research and develop pioneering solutions for optimal use of energy, leading to greener and sustainable future through its Urja Arpan initiative," the company said in a statement. The collaboration with IIT Roorkee signifies a harmonious blend of our experience and their academic brilliance, fostering a fertile ground for... pioneering research papers and inventive ideas within the realm of Urja Arpan, Srinivasan said. Tata Power Delhi Distribution Ltd is a joint venture between Tata Power and the Delhi government.

According to the data for October published by GRID-India, the country's energy consumption jumped 22 per cent to 139 billion units as compared to that in 2022

Global electric-power generating capacity by 2050 is expected to increase by a range of 50% to 100%, and electricity generation by 30% to 76%, the EIA said

Putin, who leads the world's second largest oil exporter, said Western elites had sown confusion in energy markets

Net zero goal still alive, says IEA but the world still faces major obstacles to reach it

The Arunachal Pradesh government on Wednesday signed a memorandum of understanding (MoU) with the Norwegian Geotechnical Institute (NGI) to explore feasibility of harnessing geothermal potentials that the state's numerous hot springs offer. The MoU was signed by state science and technology secretary Repo Ronya and Dr Rajinder Bhasin, technical expert from NGI, in presence of Chief Minister Pema Khandu, Science and Technology Minister Honchun Ngandam, chief secretary Dharmendra and senior advisor of Norwegian embassy in New Delhi, Dr Vivek Kumar. Congratulating the NGI and the department of science and technology, Khandu termed the signing of the MoU as a right step towards green and clean energy production especially in the light of global warming concerns. "It is a great coincidence that this MoU is being signed on World Tourism Day as its theme this year is Tourism & Green Investment' that perfectly goes in tandem with this new initiative," the chief minister said. He expressed

Southern Petrochemicals Industries Corporation Ltd (SPIC) has reported a decline in its profit after tax for the April-June 2023 quarter at Rs 43.97 crore, due to rising global energy prices, the company said on Sunday. The city-based agri-nutrient and fertiliser company, a part of AM International, Singapore had reported profit after tax of Rs 66.85 crore during the corresponding quarter of the previous year. For the year ending March 31, 2023, the company's profit after tax stood at Rs 284.44 crore, a statement released by the company said. Commenting on the company's financial performance, SPIC Chairman Ashwin Muthiah said, "The company during the quarter has navigated through a dip in turnover while successfully safeguarding the PAT, as compared to the corresponding period of the previous year, in the face of rising global energy prices." Total income during the quarter under review slipped to Rs 571.19 crore from Rs 753.07 crore recorded in the corresponding period of last ...

The technique can provide next-generation solutions for low-energy consumption on-demand switchable smart windows that operate between low and high transmittance, said the ministry

Union Minister Krishan Pal Gurjar on Monday urged the industry to adopt advanced technologies for their operations in order to compete at the global level. The Minister of State (MoS) for Power was speaking at the inauguration of 'Advance Industrial Technology Demonstration Centre' at National Power Training Institute (NPTI) at Badarpur here. "Advance technology is a must for the growth of the country. Today, if we have to compete with the world, we will have to adopt advanced technologies," Gurjar, who is also the MoS for Heavy Industries, said. Reduced consumption of energy will bring the production cost of various industries and help them to compete in the market, he said. NPTI Director General (DG) Tripta Thakur said industries like iron and steel, cement, pulp & paper, and textile together contribute around 30 per cent to the total commercial energy consumption in India. "The institute under the guidance of the Ministry of Power will educate on best practices and technologies

The marginal recovery in diesel sales during the month of April can be attributed to increased mobility due to the festive season and Eid holidays

State-owned SECI traded 35 billion units of renewable energy (RE) during financial year 2022-23, registering a year-on-year (y-o-y) rise of 59 per cent, an official statement said Monday. During the year, Solar Energy Corporation of India Limited's (SECI) revenues from power trading crossed Rs 10,000 crore-mark for the first time since its inception, Ministry of New and Renewable Energy (MNRE) said. "SECI has traded over 35 BU, a jump of over 59 per cent in its RE power trading volume in FY23 over the previous year. Likewise, the revenue from power trading has crossed the Rs 10,000 crore-mark for the first time since its inception," the ministry said. In the statement, SECI MD Suman Sharma said India is witnessing an energy transition towards sustainable sources at an unprecedented pace. "We are striving hard to have the maximum contribution in the nation's journey towards 500 GW of non-fossil fuel by 2030, as announced by the Prime Minister (Narendra Modi). Entire team of employee