Page 2 - Renewable Sources

Maha CM Eknath Shinde inaugurates country's first LNG-powered bus

Chief Minister Eknath Shinde on Friday inaugurated India's first Liquefied Natural Gas (LNG) powered bus, which will be operated by Maharashtra State Road Transport Corporation, an official said. A release from the state-run transport corporation said 5000 of its diesel vehicles will be converted to LNG alternative fuel vehicles in phases, adding that 34 per cent of its total expenditure is for diesel for its fleet of 16,000 buses. "Due to conversion of buses from diesel to LNG, pollution will reduce by 10 per cent and fuel cost will go down significantly. MSRTC has signed an MoU with M/s Kings Gas for the conversion of buses to LNG. It includes usage and supply of fuel," the release said. MSRTC, which ferries around 60 lakh passengers everyday, will set up LNG distribution facilities at 90 depots across the state, the release added.

Adani Green operationalises 1,000 Mw of solar projects at Khavda in Gujarat

Adani Green Energy Ltd delivered 1,000 Mw in less than 12 months of starting work at Khavda. This involved installing about 2.4 million solar modules

Indian Biogas Association to investment Rs 30K cr for import reduction

Indian Biogas Association has recommended an investment of Rs 30,000 crore for machinery and equipment required for biomass supply to compressed biogas plants to ensure 12 MMTA of LNG import reduction. "Utilising agricultural residues like paddy straw for bioenergy production and soil enrichment instead of burning those offers a dual benefit as it provides renewable energy sources while enhancing soil health," said Indian Biogas Association Chairman Gaurav Kedia. However, he pointed out that there are obstacles to procurement, such as unappealing economics, which makes farmers prefer to burn rather than sell off the field straw promptly. Due to the low density of straw, which increases the expenses associated with its collection, storage, and transportation, he stated, "Improving logistics is not a feasible solution. Government intervention is essential to encourage the adoption of necessary equipment, such as subsidising combine harvesters capable of efficiently gathering ...

A 5,800% renewables stock surge has some Indian investors worried

The biggest stock winners in India's renewable sector are now all facing the challenge from minuscule earnings, which has sent valuations through the roof

Committed to achieve 50% of renewable power sources ahead of 2030: Official

India is looking to achieve the target of 50 per cent of its total power capacity coming from renewable energy ahead of its stated timeline of 2030, a senior government official said on Friday. Out of a total capacity target of 500 gigawatt from non-fossil sources, 485 gigawatt is being envisaged to come from renewable energy (RE), Secretary at the Ministry of New and Renewable Energy, Bhupinder Singh Bhalla said. Speaking at the Vibrant Gujarat Global Summit here, he said, "Our share of renewable energy in the total energy has increased substantially. Now it's over 42 per cent of India's total energy capacity and that is significant." He further said, "We are committed to achieve 50 per cent of the capacity by 2030 and we are on path to achieve that and we hope to do that much earlier than 2030." Bhalla said India's RE capacity has increased from about 76 gigawatts in 2014 to 180 gigawatts at present. "The target is of 500 gigawatt of non-fossil capacity, out of which we will hav

Tata Power Renewable Energy plans to invest Rs 70,800 cr in Tamil Nadu

Tata Power Renewable Energy Ltd (TPREL) plans to make investments worth Rs 70,800 crore for renewable energy projects in Tamil Nadu. The company, part of Tata Power, has signed two Memoranda of Understanding (MoUs) with the Tamil Nadu government to support the development of the state's renewable energy landscape and accelerate the country's clean energy transition, a regulatory filing said on Tuesday. The MoUs were signed on Monday. Under the first MoU, TPREL plans to explore opportunities to develop 10,000 MW of renewable energy power projects across solar, wind, hybrid, RTC (Round The Clock), peak, Firm and Dispatchable Renewable Energy (FDRE) over the next five to seven years. These renewable projects will be located over 50,000 acres of land in Tamil Nadu with an investment potential of nearly Rs 70,000 crore. This initiative has the potential to generate around 3,000 green job opportunities, according to the filing. The second MoU is to increase the investment commitment to

Over 50% firms committed to achieving net-zero emission target: PwC survey

About 50 per cent of the Indian businesses surveyed expressed their commitment to achieving the net-zero target, reflecting their desire to address climate change issues and transit to a low-carbon economy, said a PwC report on Tuesday. Of these, about 48 per cent committed to achieving net-zero emission target by 2030, said PwC India's Tax transparency in ESG survey conducted between April-July 2023. The report is based on a market survey of nearly 250 tax heads, sustainability/ESG leaders, CFOs and CXOs of Indian businesses, spanning industries such as financial services, technology, media, and telecom (TMT), retail and consumer, engineering and construction, among others. In recent years, the global business landscape has witnessed a significant transformation in sustainable and responsible practices, said a PwC release, adding "as a core pillar of corporate strategy, companies are investing in sustainability and striving to communicate their intentions, commitments and ...

Torrent Power to invest Rs 47,000 cr in renewable energy in Gujarat

Torrent Power has inked four initial pacts with the Gujarat government to invest Rs 47,350 crore in renewable energy, green hydrogen and electricity distribution. Torrent Power Ltd, the integrated power utility of the diversified Torrent Group, has signed four non-binding Memorandum of Understanding (MoUs) with the government of Gujarat under the 10th edition of Vibrant Gujarat Global Summit, according to a company statement issued late in the evening on Wednesday. The MoUs were signed between Torrent Power and Gujarat Energy Development Agency (GEDA) in Gandhinagar. Through the four MoUs, Torrent Power has proposed total investments of Rs 47,350 crores (approx USD 5.70 billion), it stated. The proposed investments are planned to be made in the areas of renewable energy, green hydrogen and power distribution and are expected to contribute significantly towards the development of the state and creation of large-scale employment opportunities. "Torrent Power intends to make a ...

BSES plans to energise over 1,000 rooftop solar installations in FY25

Electricity provider BSES has energised 6,000 rooftop solar installations so far and the discom plans to energise over 1,000 more connections in the 2024-25 financial year, officials said on Friday. The highest number of rooftop solar connections are in the domestic segment (3,650), followed by commercial (1,087), educational (939), industrial (85) and others (129), they said. "The response to roof top solar net metering has been very incredibly encouraging in the BSES area. Consumers across categories, including residential, educational (and schools) and commercial establishments have warmed up to roof top solar net metering in big-way," a BSES statement said. The highest energised load is in the commercial segment with 57 Megawatt peak (MWp), followed by the educational segment with 45 MWp, industrial with 6 MWp and others with 11 MWp. BSES officials further said that more than 100 residential societies have opted for rooftop solar connections, helping consumers save over Rs 110

Renewable energy investments in India to jump 83% to $16.5 bn in 2024

India will witness more than 83 per cent increase in investments in renewable energy projects to around USD 16.5 billion in 2024 as the country focuses on energy transition to reduce carbon emissions, according to power ministry estimates. This is in line with India's ambitious target of having 500 GW of renewable energy by 2030 and its resolve to reduce overall power generation capacity from fossil fuels to less than 50 per cent. India has committed a net zero emission target by 2070. However, Union Power and New & Renewable Energy Minister R K Singh has said on many occasions that as much as 65 per cent power generation capacity would be from non-fossil fuels by 2030 and that would be higher than the set target of 50 per cent. In an interview to PTI, Singh said, "India is likely to witness 25 GW of renewable energy capacity addition entailing an investment of Rs 1,37,500 crore (about USD 16.5 billion) in 2024 calendar year, which would be higher than 13.5 GW with an investment ..

COP28: Nations inch closer to historic deal on fossil fuel transition

After nearly two weeks of hectic negotiations, countries on Wednesday were on the verge of reaching a historic deal on a 'transition away from fossil fuels' while emerging economies like India and China strongly opposed the targeting of coal. This marks a step back from the earlier proposal of a 'phase-out of fossil fuels' that drew sharp criticism from many countries in the Global South and oil-reliant economies like Saudi Arabia. A draft cover decision of the Dubai climate talks released early in the morning called for a "deep, rapid, and sustained" reduction in planet-warming greenhouse gas emissions in line with 1.5 degree Celsius pathways in a "nationally determined" manner, taking into account the Paris Agreement and their different national circumstances, pathways, and approaches. It lays an eight-point plan to achieve this, including a "transition away from fossil fuels" in energy systems in a "just, orderly and equitable manner", accelerating action in this decade, to achie

Renewable energy capacity to reach 170 GW by March 2025: ICRA analyst

India will add another 38 gigawatt (GW) of renewable energy capacity by March 2025 to touch 170 GW-mark, aided by moderation in solar module prices, an Icra analyst said on Thursday. The country's installed renewable energy capacity was at 130 GW as of October 2023, Vikram V, Vice President & Sector Head - Corporate Ratings, Icra, said in a webinar. Indian Renewable Energy (RE) capacity is expected to reach 170 GW by March 2025, led by strong policy support and moderation in solar module prices, he said. The capacity addition thereafter is likely to be supported by the significant improvement in tendering activity in the current fiscal with over 16 GW projects bid out so far and another 17 GW bids underway by the central nodal agencies, Vikram said. The share of RE-based round-the-clock (RTC) projects is expected to rise in upcoming tenders to mitigate the intermittency risk associated with renewables. This is in line with the 50 GW annual bidding trajectory announced by the ...

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 ...

Adani used renewable source to supply 4 hrs of power to Mumbai on Diwali

Power utility company Adani Electricity on Monday said it relied completely on renewable sources for supply of power to Mumbai for four hours on Diwali day. Adani Electricity supplied 1,200 MW of power from renewable sources to its 3 million subscribers between 10 AM and 2 PM, which meant that over 40 per cent of the financial capital's power needs were derived from renewable energy. The peak demand of the financial capital on Sunday morning was over 2,500 MW, which went up to 2,776 MW in the evening. Mumbai is currently struggling to check pollution level and improve air quality. A bulk of the power supplied to the financial capital comes from adjoining areas, while the state authorities have recently asked a rival power generation company to halve the emission of particulate matter from its plant to help reduce pollution. In a statement, Adani Electricity said it had planned the exercise in advance by sourcing power from solar and wind generation. "Achieving 100 per cent renewa

Solving intermittency of renewables

Emphasise the path to discovery, not a design

REC along with BOI to cofinance projects worth Rs 30,000 cr in next 5 yrs

REC Ltd on Wednesday signed an agreement with Bank of India to co-finance Rs 30,000 crore worth of projects in the power, infrastructure and logistics sectors over the next five years under a consortium arrangement. REC, a Maharatna company, provides long-term loans and other finance to the power sector. The firm, which has also diversified into areas like roads, metro rails, airports and IT, had a loan book of Rs 4.54 lakh crore as of the June 2023. Under the agreement, REC and BoI will partner to co-finance loans amounting to Rs 30,000 crore for infra projects implementable over the next five years, REC said in a statement.

Domestic hydrogen equipment market to touch $50 billion by 2030: IH2A

Industry body India Hydrogen Alliance (IH2A) on Wednesday said it expects the domestic hydrogen equipment manufacturing and services market to reach USD 45-50 billion by 2030. This market assessment includes all hydrogen production plant equipment, including electrolyser and balance-of-plant equipment, that can be deployed in India and exported from to countries in Asia, the Middle East and Africa, IH2A said in a report. This will help build India as a supply chain hub for future green hydrogen projects, it said. "IH2A estimates a USD 45-50 billion Indian hydrogen equipment manufacturing and services market by 2030," the report said. The industry body has also projected a USD 36 billion regional equipment and services exports market, while USD 9-13.5 billion domestic equipment market size over the next seven years. Of the USD 45-50 billion, 34 per cent share will be of electrolysers stacks, 62 per cent for balance of plant equipment and 4 per cent for specialist engineering servic

India's energy sector has undergone a remarkable transformation: RK Singh

India's energy sector has undergone a remarkable transformation, aimed at providing reliable, affordable and sustainable energy to its people, Union Minister RK Singh said on Sunday.The Union Minister for Power and New and Renewable Energy was speaking after India and Saudi Arabia signed a Memorandum of Understanding in Riyadh in the fields of electrical interconnections, green hydrogen and supply chains.As per the Ministry of Power, the MoU was signed between Union Minister for Power and New & Renewable Energy, RK Singh and the Minister of Energy, Government of Saudi Arabia, Abdulaziz bin Salman Al-Saud on the sidelines of the Middle East and North Africa (MENA) Climate Week in Riyadh on Sunday.This MoU aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection; exchange of electricity during peak times and emergencies; co-development of projects; co-production of green/clean hydrogen and renewable energy; and also

Call for fossil fuel phase-out on global stocktake agenda: UN report

Calls to phase out unabated fossil fuels, reform subsidies on it and triple global renewable energy capacity may find their way into the outcome of the first-ever global stocktake, a periodic assessment of collective efforts to achieve the Paris Agreement goals. Initiated in Glasgow in 2021, the first-ever global stocktake will conclude at the annual climate talks (COP28) in Dubai in December. The United Nations Framework Convention on Climate Change (UNFCCC) recently released a report summarising submissions made by countries and non-party stakeholders regarding the political response to the global stocktake. "They will inform negotiations but there's no guarantee any particular element will make it into the final text. With that said, fossil fuel phase-out is prominently featured in this long list of possible decision elements," Natalie Jones, a policy advisor at climate policy think tank International Institute for Sustainable Development (IISD), said. According to the UNFCCC ..

Need investments to reduce green hydrogen production cost: Ireda CMD

The cost of producing green hydrogen can be lowered through investments in research, development, and innovation, state-owned Ireda CMD Pradip Kumar Das has said. He made the remarks while addressing the AtoZero (Accelerate to Net Zero) ASEAN Summit in Kuala Lumpur in Malaysia, the Ministry of New and Renewable Energy (MNRE) said in a statement. "Das highlighted the importance of reducing the cost of Green Hydrogen through investments in research, development, and innovation. These investments aim to identify cost-effective methods for green hydrogen production," it added. He also advocated for leveraging economies of scale in transportation (including pipeline and liquefaction) and storage facilities by establishing hydrogen hubs. These hubs would promote greater utilisation of infrastructure, further advancing the green hydrogen sector. Indian Renewable Energy Development Agency (Ireda) has also set up a pavilion at the event, which was inaugurated by Deputy Prime Minister of ...