Energy Economy

UK withdraws from Energy Charter Treaty, following similar moves by EU

Britain's government said Thursday it is withdrawing from a controversial international energy treaty after efforts to modernize it ended in stalemate. The UK's move followed similar announcements by France, Germany and other European Union countries to quit the Energy Charter Treaty, which critics say is being used by the fossil fuel industry to legally challenge governments over their climate policies. The treaty entered into force in 1998 to protect and encourage international flows of investment in the energy sector. But a number of countries have faced costly legal challenges over reducing their reliance on fossil fuels and boosting greener energy sources. UK officials said negotiations to update the treaty to better support cleaner technologies had gone on for several years, but resulted in an impasse among European countries. "The Energy Charter Treaty is outdated and in urgent need of reform but talks have stalled and sensible renewal looks increasingly unlikely," said Grah

JSW in talks with LG Energy Solution to make EV batteries in India

The Indian company is also talking to other battery players including China's CATL and Japan's Panasonic and Toshiba as it looks to build a local supply chain for EVs

India well positioned for global transitions in AI, energy: B20 chair

Chandrasekaran explained that the B20 theme focuses on ensuring Responsible, Accelerated, Innovative, Sustainable, and Equitable access to all businesses

Russia's demand a roadblock to the G20 energy transition discussions

During the meeting, China also raised questions on the definition of critical minerals, a source said

India's transition to less polluting fuels faster than in other countries

The government reportedly is moving to encourage electricity grid battery production in India, which can make renewable energy supply a more stable source of power

India can achieve energy independence by 2047, says US Energy Dept study

India can achieve energy independence by 2047, when it celebrates 100 years of independence, according to a study by the US Department of Energy's Lawrence Berkeley National Laboratory. The study titled "Pathways to Atmanirbhar Bharat" also notes India's energy infrastructure needs an investment of USD3 trillion in the coming decades. It determined that achieving energy independence will generate significant economic, environmental, and energy benefits for India which include USD2.5 trillion in consumer savings through 2047, reducing fossil fuel import expenditure by 90 per cent or USD240 billion per year, enhancing India's industrial competitiveness globally, and enabling its net-zero commitment ahead of schedule. "India's energy infrastructure requires a USD3 trillion investment in the coming decades, and our study finds that prioritizing new energy assets that are cost-effective and clean is crucial for long-term financial sustainability," said Berkeley Lab staff scientist and ..

Govt trying to resolve issues with France on Jaitapur nuclear reactors

The government informed Parliament on Thursday that it was earnestly trying to sort out with France the issues pertaining to the construction of 1650 MW nuclear power reactors in Jaitapur in Maharashtra. "Much of the conflict of views on the two sides happened because of geopolitical reasons. We are, very earnestly, trying to sort it out and we are moving forward," Minister of State for Atomic Energy Jitendra Singh said in the Rajya Sabha during the Question Hour. He was responding to a supplementary question asked by Congress leader Jairam Ramesh on the status of construction of nuclear power reactors in Jaitapur. There are technical, financial and civil nuclear liability issues that both sides have to resolve. India has announced plans to construct six 1,650 MW nuclear power plants at Jaitapur in Ratnagiri which could become the nation's largest nuclear power site once completed with a 9,900 MW capacity. Replying to another supplementary query asked by Muzibulla Khan of the BJD

German Chancellor Olaf Scholz betting billions of euros on securing energy

Scholz's strategy adds pressure on the country's finances at a time when Germany already risks tipping into recession

Reliance expects gas price to rise in Oct, wants removal of ceiling prices

Reliance Industries Lenergy td expects prices of natural gas in India to rise again in October but wants government-dictated caps to go, in a bid to align domestic rates with global energy prices

Hyderabad- based Greenko to offer energy storage through a cloud platform

Storage to be open access for any consumer to use, can own and invest in green energy projects

Covid 2.0 restrictions to impact energy demand growth recovery: Ind-Ra

The lockdowns on account of an increase in Covid cases in various states can impact all-India energy demand growth recovery in Q1 FY22 although demand is expected to be higher due to lower base effect

India takes centre stage in energy economy, to drive demand growth: IEA

The developing countries in Asia account for two-thirds of global energy growth, with the rest coming mainly from Middle East, Africa and Latin America