Page 5 - Energy

G20 Summit: Russia aims to become 'reliable' supplier of energy resources

Russia will seek to confirm its status as a "reliable and guaranteed supplier" of energy resources and export products to the world at the G20 Summit, the foreign ministry here has said as it confirmed the attendance of foreign minister Sergey Lavrov in New Delhi for the key meeting. Lavrov will attend the meeting instead of President Vladimir Putin, the ministry said, indicating that the Russian foreign minister could also discuss the issue of the grain deal during his bilateral meetings on the sidelines of the G20 summit to be held on September 9 and 10. Since Russia's invasion of Ukraine in February last year, the US-led Western countries have imposed crippling sanctions on Moscow, including a price cap on Russian oil by G7-plus nations, in order to reduce its ability to finance the war on Ukraine. The West has also criticised Russia for violating the Black Sea grain deal with Kyiv which would prevent crucial grain exports from Ukraine from reaching the world markets. At the G20

ReNew Energy records Rs 298.3 crore net profit in April-June quarter

ReNew Energy Global Plc on Saturday reported a net profit of Rs 298.3 crore in the April-June quarter of 2023-24 against a loss of Rs 10.4 crore in the year-ago period. Total income was Rs 2,465.9 crore in the first quarter of FY24 against Rs 2,500.7 crore in April-June 2022, according to a company statement. Days Sales Outstanding -- the average number of days that it takes for a company to collect payment after a sales-- ended Q1 FY24 at 114 days, a 118-day improvement year on year, it stated. "We are reiterating our FY24 guidance. The company expects to complete construction of 1,750 to 2,250 MW by the end of Fiscal Year 2024," it said. As of June 30, 2023, the company's portfolio consisted of 13.7 GWs, a 6.3 per cent increase year on year, of which 8.4 GWs are commissioned and 5.3 GWs are committed. As much as 415 MWs commissioned in Q1 FY24, increasing its operating MWs to 8,395 MWs, an increase of 10 per cent. ReNew is India's leading decarbonisation solutions company liste

Govt unveils Green Hydrogen standards, sets emission limits for production

The government on Saturday unveiled Green Hydrogen standards and included electrolysis and biomass-based methods in its definition. In a significant move for the progress of the National Green Hydrogen Mission, the government has notified the Green Hydrogen Standard for India, the New and Renewable Energy Ministry said in a statement. The standards issued by the ministry outline the emission thresholds that must be met in order for hydrogen produced to be classified as Green', i.e., from renewable sources. The scope of the definition encompasses both electrolysis-based and biomass-based hydrogen production methods, it stated. After discussions with multiple stakeholders, the Ministry of New & Renewable Energy has decided to define Green Hydrogen as having a well-to-gate emission (i.e., including water treatment, electrolysis, gas purification, drying and compression of hydrogen) of not more than 2 kg CO2 equivalent / kg H2. The notification specifies that a detailed methodology ..

Swan Energy Limited's Stellar Q1 Performance and Green Vision Ignite Investor Optimism, Stock Receives Strong Buying Recommendation

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Nifty Energy paves way for positive breakout; adopt buy-on-dips strategy

According to Ravi Nathani, an independent technical analyst, charts reveal an encouraging trend for Nifty Energy index, signaling a positive breakout

EESL signs Rs 110 cr agreements with APSHCL to provide energy solutions

State-owned EESL has signed a Rs 110-crore agreement with Andhra Pradesh State Housing Company Limited (APSHCL) to provide energy-efficient appliances to beneficiaries of a government scheme in the state. As part of the partnership, residents of Jagananna colonies under Andhra Pradesh government's Navaratnalu Pedalandariki Illu (NPI) scheme will get 6 lakh LED bulbs, 3 lakh LED tubelights and 3 lakh BLDC ceiling fans through nodal agency Andhra Pradesh State Energy Efficiency Development Corporation Ltd (APSEEDCO), EESL said in a statement. EESL also signed an agreement worth about Rs 50 crore with the Ladakh Autonomous Hill Development Council (LAHDC), Leh to address electricity and cooking needs in remote areas of Leh by distributing rechargeable inverter bulbs and induction cook stoves. Another Rs 50-crore agreement with Loughborough University, UK, signed under the Modern Energy Cooking Service (MECS) programme, EESL aims to drive large-scale promotion and deployment of electric

India making great efforts in green growth, energy transition: PM Modi

Prime Minister Narendra Modi on Saturday said India is making great efforts in green growth and energy transition, and asserted that the country is moving ahead strongly on its climate commitments. Addressing via video link the G20 Energy Ministers' Meeting, which is currently underway in Goa, he also said that India has shown leadership in climate action. "India is making great efforts in green growth and energy transition. India is the most populated nation and fastest-growing large economy. Yet we are moving strongly on our climate commitments," he said. "We achieved our non-fossil installed electric capacity target nine years in advance. We have set a higher target. We plan to achieve 50 per cent non-fossil electricity by 2030," the prime minister said. The world looks up to this G20 group for advanced, sustainable, affordable, inclusive and clean energy transition, he said. "While doing this, it is important that our brothers and sisters in the global south are not left behin

Here is why China is drilling another 10,000-metre hole in the Earth

The project comes after China National Petroleum Corp. began drilling a well in Xinjiang in May, which was described as the deepest in China at that time

Power Finance Corp to lend Rs 2.37 trillion to 20 clean energy projects

Power Finance Corporation (PFC) on Friday said it has entered into loan agreements worth more than Rs 2.37 lakh crore with 20 companies. These firms include Adani Group, Greenco, ReNew Power, Continuum, Avaada, JBM Auto, Rajasthan Renewable Energy and Megha Engineering & Infrastructure, among others. These agreements -- part of the Maharatna company's plan to position itself as the focal funding agency for energy transition -- were signed with companies in the solar, wind, green hydrogen, battery storage, and electric vehicles space as well as manufacturers of green energy equipment. PFC is looking to fund projects like offshore wind, pumped hydro storage, solar modules and cells, among others in the clean energy space, the company said in a statement issued from Goa at a G20 function. Recently, the company diversified its loan portfolio into infrastructure projects, such as refineries, ports, roads, metro, biofuels, waste-to-energy projects etc. Earlier this week Parminder ...

India aims to trade electricity with Southeast Asian countries: Report

The grid linkages, which industry official said could take at least four years to complete, follow India's effort to begin trading power with Middle Eastern countries such as the United Arab Emirates

Top headlines: Adani's bankers at Barclays cautious, Chandy passes away

Business Standard brings you the latest headlines at this hour

Diversification of agriculture towards energy, power need of hour: Gadkari

Stressing that diversification of agriculture towards energy and power sectors is the need of the hour, Union Minister of Road Transport and Highways Nitin Gadkari on Monday asked Uttar Pradesh to move ahead in hydrogen production so that the country could become an energy exporting country. The Union minister also said that Uttar Pradesh, which was once regarded as 'bimaru pradesh', is moving towards development now and hailed Chief Minister Yogi Adityanath for improving the law and order of the state. "Diversification of agriculture towards the energy and power sector is the need of the hour and to make our farmers prosperous, Uttar Pradesh has sugarcane farmers in large numbers. "The Narendra Modi government has made policies to change the future of the farmers and it is bringing a change," the minister said. He was speaking after jointly inaugurating two national highway projects worth over Rs 3,300 crores in the state capital with local MP and union Defence Minister Rajnath ..

Nifty Energy, Commodity indices show bearish trends on charts

In such a scenario, traders can benefit by adopting a selling strategy, particularly when the index rallies

Top headlines: GST council meet on July 11, India Inc Q1 profit may rise

Business Standard brings you the top headlines at this hour

Bias for Nifty Energy index bullish in near-term; buy near support levels

Ravi Nathani, independent market analyst shares his trading strategies for Nifty Energy, and Nifty Commodities indices

China goes on natural gas buying spree like there's still an energy crisis

The government continues to back efforts by state-owned buyers to sign long-term contracts and even invest in export facilities, in order to bolster energy security through the middle of the century

Rockefeller Foundation to study energy transition amid rapid innovations

The Rockefeller Foundation is studying India's energy transition, especially with the fast-changing innovations and technologies that will fit into the development of low-carbon electricity systems and phase down fossil fuels. We are trying to understand what are the important things that are going to be needed in India during G20 and post-G20, Deepali Khanna, the Foundation's Vice President for Asian Office in Bangkok, said at the Ecospirity Week held June 6-8 in Singapore. India is a fast-growing economy and Khanna is confident that it is going to get to its target of Net-Zero Goal by 2070. But there is a lot that needs to happen now, she pointed out. Where and how can we provide technical assistance how can we bring about global lessons that we are learning innovations among others, said Khanna. We are keeping our eyes open to see what is there in the form of innovation. A lot is happening and a lot more needs to happen, she said of development around the energy transition ...

US trade deficit widens to 6-month high, expected to dent economic growth

Stocks on Wall Street were trading mostly lower. The dollar slipped against a basket of currencies. US Treasury prices fell

World not on track to reach energy goal, 2.3 bn use polluting fuel: Report

The report said that at the current estimate, 660 million people are projected to be without electricity and 1.9 billion won't have clean cooking opportunities by 2030

Japan earmarks $107 bn for developing hydrogen energy to cut emissions

Japan's government on Tuesday adopted a revision to the country's plans to use more hydrogen as fuel as part of the effort to reduce carbon emissions. The plan sets an ambitious target to increase the annual supply by six times from the current level to 12 million tons by 2040. It also pledges 15 trillion yen (USD 107 billion) in funding from both private and public sources to build up hydrogen-related supply chains over the next 15 years. Japan's decarbonization strategy centres on using so-called clean coal, hydrogen and nuclear energy to bridge its transition to renewable energy. Russia's war on Ukraine has deepened concerns over energy security and complicated that effort, but other advanced Western nations are pushing for faster adoption of renewable energy, such as solar, wind and geothermal. So far, Japan is relying on hydrogen mainly produced using fossil fuels. Some experts say strategies like commercialising the use of hydrogen and ammonia mainly cater to big business ...