Page 4 - Renewable Enrgy

India to triple renewable energy capacity by 2030; needs financing: Report

India's 14th National Electricity Plan (NEP) sets it on a path to more than triple its renewable energy capacity by 2030, but the country needs a whopping USD 293 billion to achieve this, according to a report released by global energy think tank Ember on Wednesday. The International Energy Agency (IEA) says the world must triple its renewable energy capacity and double energy efficiency by 2030 to decrease the need for fossil fuels and limit global warming to 1.5 degrees Celsius by the end of the century. Led by the US, the European Union (EU), and the UAE, over 60 countries now support the commitment to triple renewable energy and double energy efficiency. While the G20 nations have endorsed tripling renewable energy capacity by 2030 under India's presidency, the UAE, hosting this year's UN climate conference, advocates for a global agreement on this at COP28. Ember's analysis reveals that India requires an additional financing of USD 101 billion (one billion=Rs 100 crore) to ...

Tata Power Renewable Energy adds 1.4 GW in group captive projects

Tata Power Renewable Energy Ltd (TPREL) on Monday said it has added 1.4 GW group captive projects to its portfolio in the last six months in India. With the addition of these group captive projects, TPREL said its overall renewables capacity reached 7,961 MW as of October 2023, a company statement said. The portfolio comprises 3,755 MW projects in different phases of development, it added. Its operating 4,206 MW capacity includes 3,200 MW in solar projects and 1,006 MW in wind projects. TPREL has added 1.4 GW capacity of group captive projects in the last six months (June-November), the statement stated. This achievement is the result of the signing of Power Delivery Agreements (PDA) with various industries across segments, it explained. Some of the prominent group captive projects that TPREL has signed include collaborations with Tata Steel, Tata Motors, Mukand Limited (a Bajaj Group company), and Sanyo Special Steel Manufacturing India Pvt, among others. TPREL CEO and MD Deepe

Street cautious on Tata Power stock after Q2 results; bearish calls persist

Results were boosted by higher plant utilisation (60 per cent) at Mundra UMPP, driven by Section 11 tariffs

Best of BS Opinion: A coming-out party, evolving process of RE & more

Here is the best of Business Standard's opinion pieces for today

Gujarat's new policy to generate 50% power via renewable sources by 2030

Gujarat Energy Development Agency (GEDA) will act as nodal agency for project registration, validation, commissioning certificate and monthly progress report

Brookfield to invest $850 mn in development of renewable energy projects

Axis Energy Ventures will contribute its extensive portfolio of wind and solar projects at varying stages of development across the country to the venture, said a statement

Fresh Canada investments in Indian renewable firms may slow down: Bernstein

Brookfield, another Canadian firm eyeing the Indian market, has an existing 4 GW portfolio. The company has invested $1 billion in Avaada Energy and $361 million in CleanMax

Arunachal inks MoU with Norwegian Institute to channel geothermal potential

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

Want to be a one-stop debt solution for renewable energy: REC chairman

'We are targeting a tenfold increase in our renewable energy portfolio to Rs 3 trillion by 2030'

PFC signs MoU worth Rs 1.18 trn with SJVN for renewable energy projects

The financial backing from PFC is expected to range between Rs 80,000 crore and Rs 90,000 crore, displaying a significant commitment to these crucial projects

TotalEnergies in talks to invest in Adani Green's projects: Report

The deal would increase Total's presence in the fast-growing Indian energy market, while giving Adani Green more means to develop new renewable energy projects

Essar, Desert Tech ink pact for RE solutions for Saudi steel project

Essar Group on Monday signed a pact with solar PV firm Desert Technologies for developing renewable energy solutions for the Indian conglomerate's KSA Green Steel Arabia project. "Both parties signed a Memorandum of Understanding (MoU) to develop renewable energy solutions for Essar Group's Green Steel Arabia (GSA) project in the Kingdom of Saudi Arabia (KSA) as well as potential future projects which will put Saudi Arabia on the map, as a pioneering country in Green Steel production and green energy generation," the company said in a statement. Through this partnership, DT and Essar will develop solutions for renewable energy generation and storage for Essar's flat steel complex in the KSA which is the first green steel project in the Gulf region and will also explore opportunities for other potential projects. Essar is investing USD 4.5 billion in building a 4 million tonne per annum integrated steel plant in Ras Al-Khair, Saudi Arabia. Essar's GSA project is poised to be the ...

Hitachi bags order from Ayana Renewable Power for 300 MW solar project

Hitachi Energy India on Thursday said it has bagged an order from Ayana Renewable Power to provide a grid connection solution for their upcoming 300 MW solar project in Bikaner, Rajasthan. However, the company did not disclose the value of the order, a company statement said. Hitachi Energy will provide an engineering, procurement and construction management package that collects all the power generated by the plant and transfers it into the national transmission system. The project is scheduled to be commissioned in March 2024. "This project from Ayana Renewable Power is another step towards an integrated renewable energy system," said N Venu, Managing Director and CEO, India and South Asia, Hitachi Energy. Today, 33GW of clean power in India flows through Hitachi Energy's technology, as per the statement.

NHPC, APGENCO to set up hydel, renewable energy projects in Andhra Pradesh

State-owned NHPC has inked an initial pact with the Andhra Pradesh Power Generation Corporation to set up pumped storage hydropower and other renewable energy projects in Andhra Pradesh. In the first phase, the Memorandum of Understanding (MoU) envisages building of two pumped hydro storage projects having a total capacity of 1,950 MW, an official statement said. These projects will be established at Kamalapadu (950 MW) and Yaganti (1,000 MW). Once ready, these projects are expected to create significant employment opportunities and boost the local economy. The projects will be implemented as a joint venture. NHPC has signed the MoU with Andhra Pradesh Power Generation Corporation (APGENCO) for implementation of pumped hydro storage projects and renewable energy projects in Andhra Pradesh, according to the statement. The MoU was signed at Tadepalli in Andhra Pradesh's Guntur on Wednesday in the presence of Chief Minister Y S Jagan Mohan Reddy. The agreement was signed by NHPC Dir

Suzlon bags 31.5-MW wind energy project from Integrum Energy Infrastructure

Renewable energy solution provider Suzlon Group on Thursday announced that it has bagged an order from Integrum Energy Infrastructure for the development of a 31.5-MW wind energy project. The company did not disclose the value of the order. Suzlon will execute the project with a scope of supply, installation, and commissioning, the company said in a statement. Additionally, it said that Suzlon will offer post-commissioning operation and maintenance services. "Suzlon Group today announced a new order win for the development of a 31.5 MW wind power project for Integrum Energy Infrastructure Private Ltd", the statement said. Suzlon will install 15 units of S120140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra and Karnataka. The project is expected to be commissioned in May 2024. J P Chalasani, Chief Executive Officer, Suzlon Group, said in the statement, "We are delighted to announce our second order wit

Adani Group planning world's largest, 20 GW hybrid energy plant in Gujarat

The company intends to build the facility faster than any project in its execution history, Gautam Adani said

Foreign investors to create more value for RE in India: ReNew's Sinha

Increasingly more companies are partnering with foreign investors at project level

ReNew signs pact with Petronas's green unit Gentari for 5GW projects

Gentari is looking to build close to 30 GW in renewable energy capacity by 2030

To 'green up' portfolio, REC to sign Rs 2 trn pacts with 20 renewable firms

MoUs part of ongoing deliberations for energy transition under India's G20 Presidency

First Solar to invest billions of dollars in India's solar panel production

During PM Modi's visit to the US, both nations pledged to establish investment platforms to attract international private finance and accelerate the deployment of renewable energy projects in India