Wind Energy

BP forms offshore wind JV with Japan's JERA in renewables retreat

BP's retreat from offshore wind reflects a similar trend at rivals Shell and Equinor, which are trying to boost near-term profits by spending more on higher-return oil and gas operations

Suzlon Group secures order of 302 MW wind project from Jindal Renewables

Suzlon Group on Wednesday said the company has secured an additional wind project of 302.4 megawatt from Jindal Renewables in Karnataka. In October, Suzlon had announced securing a 400-megawatt (MW) wind power deal from Jindal Renewables Power. "Suzlon and JSP Green Wind 1, a subsidiary of Jindal Renewables, have expanded their partnership with an additional 302.4 MW wind power project in the Koppal region of Karnataka," the group said in a statement. The second order brings the total capacity from Jindal Renewables to 702.4 MW, making it Suzlon's largest-ever commercial and industrial (C&I) order from a single customer. Under the strategic agreement, Suzlon will supply 96 wind turbine generators (WTGs) of S144 series with hybrid lattice (HLT) towers, each rated at a 3.15 MW capacity. The power generated will be used at steel plants in Chhattisgarh and Odisha, Suzlon said without disclosing the exact value of the multi-crore order. Suzlon Group Vice-Chairman Girish Tanti said, ..

Wind energy at its peak, with 8 more years of growth: Suzlon Group CEO

Chalasani speaks about the prospects of the Indian wind energy sector, opportunities in defence and railways, and Suzlon's strategies to maintain its leadership

Need Rs 32 trn investment in renewable sector by 2030, says IREDA CMD

India will require about Rs 32 lakh crore of investment in the renewable energy sector by 2030 to meet its targets, Indian Renewable Energy Development Agency's (IREDA) Chairman & Managing Director Pradip Kumar Das said on Monday. Speaking at the 23rd India Power Forum 2024, Das called on lenders to adopt a more customer-centric and sector-focused approach, emphasizing the need for timely financial solutions and innovative offerings tailored to the renewable energy sector. He stressed the pivotal role of renewable energy in India's journey towards creating a net-zero-compliant power sector. Das pointed out that India will require an estimated investment of approximately Rs 32 lakh crore in the renewable energy sector by 2030 to meet its targets. This phase will focus on ramping up renewable energy generation to meet immediate needs. From 2031 to 2047, the focus will shift towards developing the necessary infrastructure to support a fully decarbonized economy, creating a strong and

BP weighing sale of minority stake in offshore wind business: Report

The company has faced pressure from shareholders over its energy transition strategy, first launched in 2020, as renewables profit thinned while margins from oil and gas rose

India's clean energy tech capacity to rise significantly by 2030, says S&P

India's clean energy technology capacity is projected to rise significantly by 2030, but the country is likely to miss its green energy target due to challenges like availability of technological innovation and skilled labour, a report said on Monday. The Centre has set a target for establishing 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. According to S&P Global Commodity Insights, with government's supportive strategies, India's clean energy technology capacity is projected to rise significantly by 2030, aiming for full self-sufficiency in solar PV and wind by 2030. "However, challenges such as technological innovation gaps, skilled labour shortages, inadequate infrastructure, and inconsistent policy enforcement may hinder progress toward these clean energy goals by 2030," it said. In support of local manufacturing, various policy measures have been introduced, including tariffs on imported goods like basic customs

Sweco to design one of Europe's largest battery energy storage system

Amid this backdrop, EU regulators last month approved a 682 million euro Belgian state aid scheme to support renewable offshore wind energy

Suzlon Energy sells corporate HQ in Rs 440 crore sale-leaseback deal

Company says move to help focus on core operations

After nearly 300% rise in 1 year, does Suzlon stock have more upside left?

Suzlon share price today: From a level of Rs 20.25 seen on August 16, 2023, Suzlon share price has zoomed 295 per cent in one year to quote at Rs 79.93 per share as on Friday

This BSE200 stock hit Rs 1 trillion market cap; zoomed 90% in 3 months

Suzlon market cap hits Rs 1 trn on Friday: The sharp rise in market cap was due to allotment of equity shares in rights issue; conversion of optionally convertible debentures and bonds into stock.

PFC secures 25.5 bn yen loan from JBIC to finance wind energy project

State-owned Power Finance Corporation (PFC) on Thursday said that it has secured a loan of 25.5 billion Japanese yen (around Rs 147 crore) from Japan Bank for International Cooperation (JBIC) for a wind energy project. This loan is part of JBIC's Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative, a PFC statement said. According to the statement, PFC has secured a long-term loan of JPY 25.5 billion from the JBIC. In addition to JBIC's contribution, the loan is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks. JBIC will also provide a guarantee for the portion of the loan co-financed by these private financial institutions. The loan proceeds will be used to finance 300.3 MW Wind Energy Project of Ostro Kannada Power Private Ltd (OKPPL) in Karnataka, India.

Inox Wind secures 201 MW project from Integrum Energy Infrastructure

Wind energy solutions provider Inox Wind on Tuesday said it has secured an order for a 201 MW project from Integrum Energy Infrastructure. This is an equipment supply order for IWL's latest 3 MW Wind Turbine Generators (WTGs), a company statement said, adding that Inox Wind will also provide post-commissioning multi-year operations and maintenance (O&M) services. The project will be executed across four states -- Madhya Pradesh, Rajasthan, Karnataka and Maharashtra. According to the statement, Inox Wind has bagged an order for 201 MW from Integrum Energy Infrastructure Ltd, a leading C&I (Industrial and Commercial) player. Inox Wind CEO Kailash Tarachandani said, "Integrum has been a longstanding partner for us, and we are delighted that they have reaffirmed their faith in our product and solutions with this large equipment supply order for 201 MW". Integrum Energy founder and CEO Anand Lahoti said, "Integrum is on a strong growth journey, focusing on providing hybrid ...

Electricity: A strategic view

Heavy lifting is now required in electricity and financial reforms

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Suzlon Group Q1 results: Profit after tax nearly three-fold up at Rs 302 cr

The company's revenues also rose to Rs 2,016 crore from Rs 1,348 crore in the year-ago quarter

Inox Wind to become a debt-free company after promoter infuses Rs 900 cr

Inox Wind Ltd on Thursday said its promoter Inox Wind Energy (IWEL) has infused Rs 900 crore into the company, following which the wind energy solutions provider will become a net debt-free company. In a statement Inox Wind Ltd (IWL) on Thursday announced the completion of infusion of Rs 900 crore into the company by its promoter Inox Wind Energy Ltd (IWEL). "This fund infusion will help us become a net debt-free company, strengthening our balance sheet and help accelerate our growth. We expect substantial savings in interest expenses going ahead, aiding our profitability further," Kailash Tarachandani, CEO of Inox Wind said. The funds were raised by the IWEL on May 28, 2024, through sale of equity shares of IWL through block deals on the stock exchanges, witnessing participation of several marquee investors, as per the company statement. The funds will be utilised by Inox Wind Ltd to completely pare down its external term debt to achieve a net debt-free status, it added. Net Debt

Copper demand to skyrocket with shift to clean energy sources: HCL CMD

The demand for copper, a key component in electric vehicles, will go up substantially as the world shifts to cleaner energy sources to mitigate climate change, according to Hindustan Copper Chairman and Managing Director Ghanshyam Sharma. By transitioning from fossil fuels to renewable energy sources like solar, wind, hydro, and geothermal, greenhouse gas emissions can be reduced significantly. "As the world transitions to cleaner energy sources...the demand for copper will increase significantly as a vital component in electric vehicles and renewable energy technologies such as solar panels, wind turbines etc," the CMD said in a recent message on the company's website. He further said the company has been given the charge of utilisation of the nation's copper resources in an efficient and sustainable way. India, he said, is committed to achieving net zero emission by 2070. According to ICRA, the domestic refined copper demand growth is expected to remain healthy at 11 per cent in

Parlous state of Indian refining segment threatens clean energy projects

Govt-run refiners may not be able to aggressively invest in clean energy projects as they stare at a rough road amid dwindling margins, volatile crude prices, shrinking discounts on Russian oil buys

Govt clears Rs 7,453 crore VGF scheme for offshore wind energy projects

The Union Cabinet on Wednesday approved a Rs 7,453 crore-Viability Gap Funding (VGF) scheme for offshore wind energy projects, including one in Gujarat. The scheme includes an outlay of Rs 6,853 crore for the installation and commissioning of 1 GW of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and a grant of Rs 600 crore for the upgradation of two ports to meet logistics requirements for offshore wind energy projects. The VGF scheme is a major step towards implementation of the National Offshore Wind Energy Policy notified in 2015, with an aim to exploit the vast offshore wind energy potential that exists within the exclusive economic zone of India, Information and Broadcasting Minister Ashwini Vaishnaw said in a press briefing. The VGF support from the government will reduce the cost of power from offshore wind projects and make them viable for purchase by Discoms, he noted. The Ministry of New and Renewable Energy, as the nodal ministry, w

Adani Group plans to invest over $1 billion in Sri Lankan wind projects

Adani Group plans to invest over USD 1 billion in setting up projects in Sri Lanka to generate electricity from wind in what would be the island nation's single largest foreign direct investment and the biggest ever power project, sources said. Group firm Adani Green Energy Ltd (AGEL) will set up two wind farms in Sri Lanka's Mannar town and Pooneryn village in the northern provide with a total installed capacity of 484 megawatt at an investment of about USD 740 million. The related infrastructure that would transmit electricity to consumption centres will see further investment of over USD 290 million, two sources with knowledge of the matter said. The projects will not just be Sri Lanka's largest renewable energy project but also the nation's biggest power project to date. Last month, Sri Lanka had entered into an agreement to buy electricity from Adani's wind power stations for 20 years. AGEL will be paid 8.26 cents per kilowatt-hours (kWh) as per the agreement. This is lower t