Page 3 - Renewable Enrgy

New economy, old habits

There is no doubt that the world needs to move with speed and at scale. But what will be the business model that we take to the new green world?

Tata Power Renewable signs pact with SJVN for 460 MW clean energy project

Tata Power Renewable Energy Ltd (TPREL) on Saturday said it has signed an agreement with state-owned SJVN Ltd to set up a 460 MW Firm and Dispatchable Renewable Energy (FDRE) project. An FDRE plant enables round-the-clock power supply, assisting power distribution companies (discoms) in fulfilling their Renewable Purchase Obligations (RPOs) and Energy Storage Obligations (ESOs). "The plant, designed to meet the 460 MW FDRE requirement, integrates solar, wind, and battery storage technologies to ensure efficient energy dispatch during peak hours, thereby stabilizing the grid," it said. The plant is expected to generate nearly 3,000 million units (MUs) of power and offset 2,200 million kgs of CO2 emissions annually, TPREL said in a statement. "This partnership with SJVN Ltd will witness the deployment of sustainable energy solutions from TPREL. It will go a long way in meeting the green energy objectives of SJVN Ltd," said Deepesh Nanda, CEO and Managing Director, Tata Power Renewabl

KPI Green Energy Q4 results: Net profit rise 36% to Rs 43.04 crore

KPI Green Energy on Thursday posted nearly 36 per cent rise in consolidated net profit to Rs 43.04 crore in the March quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 31.77 crore in the year-ago period, the company said in a BSE filing. The company's total revenue increased to Rs 292.96 crore during the quarter from Rs 184.41 crore a year ago. The consolidated net profit during the entire FY24 also increased to Rs 161.65 crore from Rs 109.62 crore a year ago. The board has also recommended final dividend at 2 per cent, i.e. Re 0.20 per equity share of the face value of Rs 10 each for the financial year 2023-24, subject to approval of the shareholders at the upcoming annual general meeting of the company.

Inox Wind board cleares bonus issue in 3:1 ratio to its shareholders

Wind energy solutions provider Inox Wind on Thursday said its board of directors have cleared a proposal to issue bonus shares in the ratio of 3:1 to its shareholders. The bonus shares shall be issued to the shareholders whose names appear in the Register of Members as on the 'Record Date', a company statement said. According to the statement, Inox Wind Ltd Board of Directors at its meeting held on April 25, 2024 has proposed the issuance of three bonus equity shares for every one existing equity share out of the accumulated reserves of the company. The issuance of bonus shares will not only bolster the capital base of the company without any cash outflow but will also enhance the liquidity of Inox Wind's shares, broadening participation of a wider set of investors, it stated. Over the course of financial year 2023-24, Inox Wind turned profitable in the September-December 2023 quarter on the back of a significant ramp up in business operations. Moreover, over the course of the pas

Macquarie calls off plans to sell renewable energy company Vibrant Energy

The plan was called off due to a discrepancy in the valuation of Vibrant Energy, which has an enterprise value of $500 million

K.P. Energy secures wind power project; share hits 5% upper circuit

The surge came after K.P. Energy secured an order for development of a 9MW wind power project in Gujarat

Mahindra Group to invest nearly Rs 1,200 cr in renewable energy projects

Mahindra Group will develop a 150 MW hybrid RE (Renewable Energy solar + wind) project at a total project cost of about Rs 1,200 crore, said Mahindra Susten

Torrent Power gets order to supply 150 MW renewable energy for Rs 1,825 cr

Torrent Power on Thursday said it has received a letter of award from its 'Distribution Unit' for setting up a 150MW wind solar hybrid project with an investment of Rs 1,825 crore. The renewable energy project will supply power at a tariff of Rs 3.65 per kWh, a BSE filing stated. "...the company has received Letter of Award from Torrent Power Limited-Distribution Unit for setting up of 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects under Greenshoe option," it stated. The project will be commissioned within 24 months from the signing of Power Purchase Agreement (PPA). The contract for supply of power will be 25 years from the commissioning of the project. The annual CUF (capacity utilisation factor) will not be less than 50 per cent for any year during the term of the PPA and rated power capacity of wind and solar will be in the ratio of 2:1. To meet the 50 per cent CUF requirement, the company plans to install 245 MW of wind and solar capacity projects against a ...

Surviving airbenders are trying to get wind energy back to its past glory

Between 2012 and 2016, tax benefits and incentive schemes for wind energy witnessed mercurial changes

NTPC, NGEL look to develop thermal plants, renewables project in Rajasthan

State-run power giant NTPC and its arm NTPC Green Energy signed two separate initial pacts to explore the possibility of developing supercritical thermal plants and renewables as well as green hydrogen in Rajasthan. The MoU between NTPC and Rajasthan Rajya Vidyut Utpadan Nigam was signed to explore opportunities for adding supercritical units to the existing Chhabra Thermal Power Plant, a company statement said. Additionally, the Parties aim to implement measures to enhance efficiency and reduce the generation cost of the plant's existing units. Furthermore, the MoU also includes the undertaking of 15 to 20-year annuity-based Renovation and Modernization (R&M) of old thermal units of RVUNL by NTPC or its affiliates. The MoU between NGEL ( NTPC Green Energy) and RVUNL was signed for development of Renewable Energy Projects and Green Hydrogen Derivatives up to 25 GW and 1 million Ton capacities respectively in the State of Rajasthan.

Torrent Power gets new round-the clock RE project worth Rs 2,700 cr

Torrent Power on Friday said it has received a Letter of Award (LoA) from the Railway Energy Management Company Ltd (REMCL) for a grid-connected round the clock renewable power project. The project shall be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA), Torrent Power said in a statement. "The project cost is approximately Rs 2,700 crore for installing about 325 MW of renewable capacity for supply of 100 MW RE-RTC power. The tender requires to maintain minimum annual capacity utilisation factor of 75 per cent in the first 3 years and 85 per cent from fourth year onwards," Torrent Power said. The 325 MW of renewable capacity includes wind, solar, and battery storage, the company said. The project has been secured at tariff of Rs 4.25/Kwh for a period of 25 years.

Pvt capital not ready to embrace energy transition opportunities: CEA

Private capital is not fully ready to embrace both the risks and opportunities associated with funding energy transition, Chief Economic Adviser V Anantha Nageswaran said on Thursday. Speaking at the Raisina Dialogue 2024, Nageswaran said there is a lot of talk about funding energy transition and climate change requirements but nothing much is happening on the ground. Citing an example, he said, yields on sovereign green bonds that India issues only have a benefit of one or two basis points. "It is very clear that private capital isn't fully ready to embrace both the risks and the opportunities associated with funding energy transition. Now, if that requires further de-risking by the multilateral agencies, or by sovereigns, then that is an explicit cost that needs to be factored in, given the not so great fiscal situation of several other countries after the pandemic and the debt crisis," he said. During India's G20 presidency, he said, "we did bring out the two volume report of th

UP govt plans to set up 8 renewable energy projects worth over Rs 67,000 cr

The projects may be launched at the Groundbreaking Ceremony (GBC) 4.0 in Lucknow on February 19, along with more than 14,000 projects worth Rs 10 trillion

LIC's group yearly renewable premium rises by 137% in Apr-Jan FY24

In January 2024, LIC saw an increase of 36.51 per cent in Group Premium and 41.04 per cent growth in Group Yearly Renewable Premium from January 2023

Energy Efficiency Services inks 5 initial pacts to boost renewables, others

State-owned Energy Efficiency Services Ltd (EESL) on Thursday said it has inked five initial pacts with partners to boost energy efficiency and renewables in the country, aligning with G20 and COP28 commitments. These initiatives are poised to double energy efficiency and triple renewable energy, in line with the ambitious targets set at COP28 and G20, an Energy Efficiency Services Ltd (EESL) statement said. According to the statement, EESL, a joint venture of public sector undertakings under the administration of the Ministry of Power, has signed memorandum of understanding (MoUs) with strategic partner organisations. EESL Chief Executive Officer Vishal Kapoor said, "The commitment we are making through these MoUs is crucial for not only support in meeting our Nationally Determined Contributions but also for contributing to the global effort in achieving the goals set at COP28". Collaborations like these are crucial imperatives for us to actively contribute to the goal of doubling

WEF: Green hydrogen to lead towards zero carbon future, says Gautam Adani

Writing in a blog post on the World Economic Forum site, Adani said for India, the equitable solution is not to replace one fossil fuel with another but to leapfrog to renewables and green hydrogen

Our successful listing gives justice to RE growth in India: IREDA CMD

'The company is now trying to widen its scope to new and emerging green sectors, widen its borrowers base, use innovative financing tools to cater to large projects and become a Navratna soon'

Adani Green Energy ranked second-largest global solar PV developer: Mercom

AGEL with its total solar capacity of 18.1 GW ranked second after France-based TotalEnergies, which holds a total capacity of 41.3 GW

Sterlite Power wins 8 GW green energy transmission project in Rajasthan

Sterlite Power on Thursday said it has bagged a transmission project, which will aid evacuation of 8 GW renewable energy to Rajasthan, Haryana and Uttar Pradesh. The company has secured the order for Rajasthan REZ Ph-IV (Part-1-Bikaner Complex): Part-B Transmission project, a company statement said. "Transmission today underpins India's energy transition success. We are happy to win this critical project that will allow around 8000 MW of renewable energy to flow from RE (renewable energy) rich Bikaner to load centres in Rajasthan, Haryana and Uttar Pradesh," said Pratik Agarwal, Managing Director, Sterlite Power. With this order win, Sterlite Power has secured its third Green Energy Corridor (GEC) project in Rajasthan. Sterlite Power will be building this project on a BOOT (Build, Own, Operate, Transfer) basis, for a period of 35 years. The project was bid out through tariff-based competitive bidding (TBCB) process. Sterlite Power is a private sector power transmission infrastruct

Renewables lender IREDA hits over $1.8 bn valuation in trading debut

Shares of IREDA, which were listed at 50 rupees, climbed to a high of 57.75 rupees, well above their initial public offer (IPO) price of 32 rupees