Page 8 - Energy Sector

Centre in a huddle to understand impact of the Iran-Israel tensions

Inter-ministerial meets, stakeholder talks take off

Fuelling tensions: West Asian conflict reveals India's oil vulnerability

Iran attacked Israel after an airstrike by Jerusalem on April 1 on an Iranian embassy compound in Damascus killed an Iranian general and six officers

Govt sets coal production target of producing 170 million tonnes for FY25

The government has set the target of producing 170 million tonnes of coal from captive and commercial coal blocks in the country during the current financial year. In FY24, captive and commercial coal blocks produced 147.12 million tonnes (MT) of dry fuel, 26 per cent higher from 116 MT produced in FY23. According to an official, additional secretary, coal, M Nagaraju this week reviewed the coal production targets for FY25. Representatives of 74 coal mines were present in the review meeting. "Coal block allottees are confident of achieving the production target of 170.0 MT in 2024-25," the official said. The additional secretary also reviewed the plans of anticipated operationalisation of new mines during 2024-25. Out of the total output of 147.2 MT in FY24, power sector captive mines produced around 121.3 MT, captive mines of the non-power sector produced 8.4 MT while commercial mines generated 17.5 MT of fuel. The country's coal import rose to 244.27 MT in the April-February pe

ReNew constructs 1.94 GW of renewable energy assets, hits 10 GW in capacity

Clean energy firm ReNew on Wednesday said it has completed construction of 1.94 GW of renewable assets in FY24, taking its total capacity to 10 GW. Accounting for assets sold, the company's revenue generating capacity stands at 9.52 GW as on March 31, 2024, the company said in a statement. The company added 1,174 MW of solar and 768 MW of wind energy during FY24. This is one of the highest-ever capacity additions of wind energy among all companies in India in a single year, it stated. ReNew, among the largest clean energy companies globally, announced on Wednesday that it has completed construction of 1.94 GW of RE assets in FY24, taking the cumulative capacity set up by the company to over 10 GW, the statement said. In FY24, ReNew contributed about 10 per cent of the country's total solar and wind energy generation. The company has India's largest wind portfolio of 4.7 GW, representing 10.5 per cent of India's total wind energy capacity, it stated. In 2023-24, ReNew won auction

India may devote more sugar to ethanol in blow to export hopes: Report

The nation extended its export restrictions in October to protect domestic supplies ahead of national elections

Lenders to invite bids for Hiranmaye Energy in the next few weeks

BHEL had petitioned to halt the insolvency process of the project, citing its pending dues emerging from an arbitral award

India aims to produce 100 GW nuclear power by 2047: AEC Chairman Mohanty

India aims to produce 1 lakh MW of nuclear power by 2047, a massive increase from the current production of over 8,000 MW, Atomic Energy Commission Chairman A K Mohanty said here on Wednesday. Mohanty was speaking at the release of a report, 'Synchronising Energy Transitions Towards Possible Net Zero for India: Affordable and Clean Energy for All', largely funded by the Office of the Principal Scientific Adviser to the government of India. Ravi B Grover, Chairman Emeritus of the Homi Bhabha National Institute, said the report was necessary as studies for energy transition for India have come up with a very insignificant role for nuclear citing high input cost and lower public acceptance. Mohanty said a vision document for 'Amrit Kaal' was being prepared by the Department of Atomic Energy which envisages reaching a nuclear capacity of about 100 GW by 2047. He said the breeder reactors would contribute 3 GW of nuclear power, while 17.6 GW would come from light water reactors built wi

Adani Power revives old ambitions as power demand surges in India

At present, the largest power producer in the country is NTPC with 75 Gw capacity and the largest private sector player is Adani Power, with Tata Power a close second

JSW Energy to raise $600 million via share sale to institutional investors

The share placement could be done in one or more tranches, the energy arm of JSW Group said in an exchange filing

Coal sector grows 11.6% in February, highest growth in core sectors

The coal sector has registered an 11.6 per cent growth, the highest among all eight core industries of the economy, in February, an official statement said on Monday. The index of coal industry has reached 212.1 points during February as compared to 190.1 points during the same month last year, the coal ministry said. "The coal sector has exhibited highest growth of 11.6 per cent (provisional) among the eight core industries for the month of February 2024 as per the Index of Eight Core Industries (ICI) (Base Year 2011-12) released by Ministry of Commerce & Industries," it said. On a cumulative basis, the index of coal industry increased by 12.1 per cent during April to February 2023-24 over the corresponding period of the previous year. ICI measures the combined and individual production performance of eight core industries namely, cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel. The Combined Index of Eight Core Industries experienced a

NTPC wins 3,445 MW renewable energy projects in total during FY24

State-owned power giant NTPC on Monday said it has won 3,445 MW of renewable energy (RE) projects in the fiscal year ending March 31, 2024. "NTPC wins 3,445 MW RE bids in FY 2023-24. This records 58 per cent of total RE tenders the company participated during the financial year which is the highest since it started participating in the bids," the company said. Currently, NTPC has 3.5 GW of RE operational capacity with over 20 GW (gigawatt) in the pipeline. NTPC Ltd, under the Ministry of Power, is the country's largest integrated power utility having 76 GW installed capacity that contributes 25 per cent of total electricity demand in India.

Waaree Energies bags 220 MW solar module supply order from Sprng Energy

Waaree Energies on Monday said it has secured an order from Sprng Energy to supply 220 MW of solar modules. It will supply the modules for Sprng Energy's upcoming project in Gujarat, Waaree Energies said in a statement. "This collaboration stands as an opportunity for Waaree to take on a crucial role in advancing India's green energy sector, aligning with our dedication to national sustainability objectives," Hitesh Chimanlal Doshi, Chairman & Managing Director of Waaree Group, said. Waaree Energies is among India's largest manufacturers of solar PV modules with an aggregate installed capacity of 12 GW, as of June 30, 2023.

Adani Energy mulls borrowing up to $600 mn for smart meter projects

The Indian power distribution company is in talks with a group of global lenders, with the foreign currency loan's tenor likely to be around three to five years, the report added

UltraTech to buy 26% stake in O2 Renewable for green energy needs

UltraTech Cement on Wednesday said it will acquire 26 per cent equity of O2 Renewable Energy, a company engaged in the generation and transmission of renewable energy. This will help the Aditya Birla Group firm meet green energy needs, optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws. The cement maker company has entered into an energy supply agreement and share subscription and shareholders agreement with O2 Renewable Energy. "The acquisition is for the purposes of meeting the company's green energy needs, optimising energy cost and complying with regulatory requirements related to captive power consumption under electricity laws," UltraTech said in a regulatory filing. On the equity investment, the company said it would be a cash consideration of up to Rs 15.68 crore and expects to complete it within 180 days from the signing of the agreement.

Coal India achieves remarkable growth without major management rejig

Despite significant management restructuring, government-run mining company ONGC could not deliver a notable increase in output

Infrastructure takes centre stage as ministers ready Lok Sabha poll pitch

Energy security, safer travel to form the core of BJP's LS poll promises

NCC, NPCIL sign pact to raise awareness on peaceful use of nuclear power

The National Cadet Corps (NCC) on Thursday joined hands with Nuclear Power Corporation of India Limited (NPCIL) to conduct awareness programmes across the country to enhance public perceptions on peaceful use of nuclear power and disseminate scientific information. The memorandum of understanding between NCC and NPCIL, a public sector undertaking, also facilitates a unique opportunity to cadets to visit various facilities of NPCIL, thereby giving a "first-hand experience" on peaceful use of nuclear energy, its technical and technological aspects. The MoU was signed in New Delhi in presence of Director General of the NCC, Lt Gen Gurbirpal Singh and Executive Director (Corporate Communication & Corporate Planning), NPCIL, BVS Shekhar, the defence ministry said in a statement. The agreement will entail conducting "various awareness programmes throughout the country to enhance public perceptions on peaceful use of nuclear power, and disseminate scientific and authentic information," ..

As domestic LNG output rises, imports will decline to 45% by FY26

With increasing local production, the import dependency of natural gas in general and LNG in particular, is likely to come down to 45 per cent by FY26, says a report. According to a Care Ratings analysis, with the rise in domestic natural gas production, the dependency on imported LNG (liquefied natural gas), which stood at 53 per cent in FY21, has gradually declined over the past three years and is expected to remain at around 45 per cent by FY26, the agency said. Higher demand for natural gas is also expected to be supported by sizeable growth in domestic gas production, wherein nearly 30 MMSCMD of new domestic natural gas production has gradually come on-stream over the past three years and another 15 MMSCMD of new domestic production is expected to come on-stream next fiscal alone. There has been a steady growth in natural gas consumption till FY20. However, following the pandemic and a sharp increase in imported LNG prices due to geopolitical situation, the demand for natural

GoodEnough Energy to invest Rs 450 cr to set up 20GWh equipment factory

Battery energy storage systems maker GoodEnough Energy will invest Rs 450 crore for setting up a 20 GWh per annum capacity plant in Jammu & Kashmir by 2026. Presently, the company is in the process to make its plant operational by October this year with initial battery energy storage systems (BESS) manufacturing capacity of 7GWh per annum. Talking to PTI on the sidelines of an event to unveil its BESS technology, founder of GoodEnough Energy Akash Kaushik said, "We have invested Rs 160 crore so far to create a BESS manufacturing facility of 7GWh. It will be operational by October this year." He informed that the company has chalked out a plan to invest Rs 450 crore for having a BESS manufacturing facility with total capacity of 20GWh per annum by 2026. In its endeavour to create a fully integrated ecosystem, the Gigafactory will produce advanced battery energy storage systems, empowering various industries to reduce carbon emissions. The company on Tuesday announced this largest .

NexGen Energia to invest Rs 1,000 cr for setting up EV unit in J&K

Sustainable energy solutions firm NexGen Energia on Monday said it will invest Rs 1,000 crore in setting up a manufacturing unit for electric vehicles (EVs) in Jammu and Kashmir. The Noida-based company said it is currently in talks with the authorities in the Union Territory and scouting for 100-acre land either in the Kathua industrial area or in the Kashmir Valley. The move comes soon after the company announced Rs 3,000 crore investment for setting up a Compress Bio Gas (CBG) plant in Gujarat. "Along with 'Make in India', we are on the way to fulfil the dream of self-reliant India. We will establish an EV plant in Jammu and Kashmir in collaboration with the government in which we will invest Rs 1,000 crore," NexGen Energia chairman Piyush Dwivedi told PTI. "The manufacturing unit will provide direct and indirect employment to about 1 lakh people and we aim to launch NGE's most affordable electric two-wheeler on April 15 next month for just Rs 36,900 from our Noida unit," Dwived