PM Narendra Modi lays foundation stone for solar project at Nokh virtually

In the programme, Nokh sarpanch Suman Changani, NTPC (north) regional officiating director Devsish, NTPC manager Deepak Patnakar and others NTPC officials, political leaders, local villagers were present.

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Revenge of old world economy as Big Oil’s cash flow rivals tech

Exxon, which lost money for the first time in its history during the pandemic, now ranks as the S&P 500 Index’s third-largest generator of free cash flow, behind only Apple Inc. and Microsoft Corp, according to data compiled by Bloomberg.

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LPG cylinder prices slashed by Rs 36, domestic unchanged

On July 6, prices of domestic liquid petroleum gas cylinders weighing 14.2 kgs were raised by Rs 50 per unit. Previously, the prices for domestic cylinders were revised on May 19, 2022.

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Masdar, CPPIB among those seeking stake in Iberdrola's 1.4 bln euro German wind farm: source

Europe's largest utility is holding calls with the prospective buyers for the minority stake of the wind farm, two sources said, and it will select a winner in coming weeks.

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OPEC secretary general says Russia's membership in OPEC+ is vital for success of agreement

Al-Ghais, Kuwait's former OPEC governor, will head his first OPEC+ meeting on Aug. 3, in which the group will consider keeping oil output unchanged for September, despite calls from the United States for more supply.

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Railways extends validity of diesel pacts by 6 months

Retail diesel prices were last revised on May 23, 2022. It is estimated that oil companies are selling bulk diesel to consumers such as transport fleets, shopping malls and factories at Rs 25-40 per litre more than retail prices.

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MRPL to expand petrol pump network in Tamil Nadu, AP, Telangana: Chairman

MRPL's (Mangalore Refinery and Petrochemicals Ltd) petrol pump network is currently concentrated in Karnataka and Kerala.

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TCR Engineering executing 84 gas pipeline testing projects: President Rohit Bafna

"We are currently undertaking Non-Destructive Test (NDT) and inspection activity on gas infrastructure pipeline projects at over 84 sites across India. Our role includes testing or inspection of the pipelines and giving them certification," the company's global president Rohit Bafna told PTI.

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IOC records quarterly loss, sold petrol at Rs 10 a litre loss, diesel at Rs 14

"Earnings decline was driven by a sharp fall in retail fuel margins for petrol and diesel with an estimated net loss of Rs 10 per litre for petrol and Rs 14 a litre for diesel for the quarter and inventory loss of Rs 1,500-1,600 crore due to excise duty cut in the quarter," reported PTI citing ICICI Securities.

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Torrent Power buys Wind Two Renergy for Rs 32.51 cr from Inox Green

The company has acquired 3,25,10,000 equity shares of WTRPL at a face value of Rs 10 each, a BSE filing said.

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Heavy Industries Ministry signs contracts with three companies for battery manufacturing incentives

It was initially decided that Hyundai Global Motors will also be getting the PLI support. But this was put on the backburner after it was revealed that Hyundai Global Motors does not have any links with Hyundai Motor Co and the Korean automaker’s local subsidiary, Hyundai Motor India Ltd (HMIL).

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PM Modi urges states to expedite clearing Rs 2.5 lakh crore power dues

The Prime Minister, who was launching a revamped power sector distribution scheme, said states owe about Rs 1 lakh crore to generation companies while state departments and local bodies have dues of Rs 60,000 crore to distribution companies.

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PM to dedicate, lay foundation stone of green energy projects of NTPC worth over Rs 5,200 cr

'Ujjwal Bharat Ujjwal Bhavishya -- Power @2047' is taking place from July 25 to 30 as part of ongoing 'Azadi Ka Amrit Mahotsav'. Organised across the country, it showcases the transformation in the power sector achieved in the last eight years.

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Govt mulls cutting domestic gas supply to power sector, sources tell ETNow

The Oil Ministry held an emergency meeting on increased gas demand in the City Gas Distribution (CGD) network.

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IOC, OVL to acquire stake in Tullow's $3.5bn project

Sources said senior executives from the two Indian entities are in Kenya on an exploratory mission. The mission's findings will decide whether IndianOil and OVL decide to proceed to formalise a proposal.

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India's top refiner reports quarterly loss on fuel discounts, higher costs

Indian fuel retailers such as IOC, Hindustan Petroleum Corp and Bharat Petroleum Corp have not revised pump prices for months to insulate consumers from the global crude price surge, helping the government's efforts to mitigate the impact of inflation.

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Indian Oil Corp Q1 loss at ₹1,993 cr

Revenue from operations rose 62% year on year to ₹2,51,933 crore on higher prices.

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Ind-Barath Energy lenders, JSW Energy may renegotiate resolution plan

Ind-Barath was admitted for bankruptcy proceedings on August 29, 2018, following a plea filed by Bank of Baroda. On October 9, 2019, the Committee of Creditors (CoC) approved JSW Energy’s revival plan, with 82.70% votes in its favour.

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India must become hub for manufacturing photovoltaic modules: Union minister Khuba

"So far India was dependent on other countries (for PV modules and solar components) but under Aatmanirbhar Bharat, we should not become only traders, we have to be manufacturers. India must be a hub of it," he said while addressing over 300 participants in a session on renewable energy.

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India and Egypt sign MoU to set up a green hydrogen plant with investments of $8 billion

According to the MoU, the Indian company will set up a plant to produce green hydrogen with a capacity of 20,000 tonnes annually, which can be raised to 220,000 tonnes annually, by using renewable energy sources at one location in the Suez Canal Economic Zone.

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A new bench of traders muscle in to supply Russian oil to India

State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.

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A new bench of traders muscle in to supply Russian oil to India

State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.

from Energy-Industry-Economic Times https://ift.tt/XhHbvzr

Windfall tax may go up if crude prices rise: Revenue Secretary Tarun Bajaj

The Centre had on July 1 imposed a levy of ₹23,250 per tonne on domestically produced crude oil. After a review last week, this was reduced to ₹17,000 per tonne as the global crude oil softened.

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OPINION: India's green financing challenge and the way forward

Achieving 500 GW of RE capacity by 2030 hinges on the formulation of a robust policy roadmap.

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CIL earns revenue worth over Rs 1.52 lakh cr from coal sales in FY'22: Govt

In a written reply to the Lok Sabha, Coal Minister Pralhad Joshi said the mahartana firm has garnered Rs 29,400 crore by selling 177.59 MT of coal in the April-June period of the ongoing financial year.

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India will require $20 trillion capex to achieve Net Zero by 2070: Report

India will require $20 trillion of capex to meet the ambitious 2070 Net Zero target and that would be led mostly by the private sector.

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India will require $20 trillion capex to achieve Net Zero by 2070: Report

India will require $20 trillion of capex to meet the ambitious 2070 Net Zero target and that would be led mostly by the private sector.

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BPCL unit's $1.6-billion investment in Brazilian oil block okayed

BPRL has a 40% participating interest in the Brazilian block- BM-SEAL-11 - which is expected to start production in 2026-27. With 60% participating interest, Petrobras, the national oil company of Brazil, is the operator of the block.

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AIPEF seeks PM intervention on Power Min directive on coal imports by states for thermal plants

​​​All India Power Engineers Federation (AIPEF) in a letter sent to the Prime Minister has stressed that the Ministry of Power must be directed to withdraw its orders and directives to the states/state gencos, forcing them to expedite coal imports that were not required/justified in the wake of the coal ministry's reply in Parliament on July 25, an AIPEF statement said.

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IEX power trade volume rises 10 pc to 23 billion units in Q1

"During the quarter (April-June 2022), electricity volumes on the exchange grew by 10 per cent YoY (year on year) with 23.4 BU volumes traded versus 21.3 BU in Q1 FY'22 ," an IEX statement said.

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India's power shortage at 1 pc in April-June this fiscal

"Further, during 2022-23 (April-June), against the requirement of 404.76 Billion Units (BU), the energy supplied was 400.65 BU. There was a shortage of 1 per cent of energy requirement," Union Power Minister RK Singh said in a written reply to the Rajya Sabha on Tuesda

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123 GW of solar capacity either commissioned or in pipeline: Govt

Minister of State for New and Renewable Energy Bhagwanth Khuba in a written reply to the Rajya Sabha stated that a solar energy capacity of 123.11 GW has either been commissioned or is in the pipeline.

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ONGC inks MoU with Greenko to manufacture green hydrogen

The MoU, valid for two years, was inked in New Delhi by ONGC Director Onshore Anurag Sharma and Greenko CEO and Managing Director Anil Kumar Chalamalasetty.

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Level playing field for alternative fuel mobility: Indian Auto LPG Coalition

"In principle, we whole-heartedly welcome the government's initiatives on promoting EVs (electric vehicle). What we have been merely asking is that the government should also extend equal opportunity to another hugely feasible alternative fuel which could also contribute to an emission-free mobility system in our country," the association's Director General Suyash Gupta said.

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Natural gas demand dips as power companies, refiners switch to alternative fuels

A part of the decline in imports has been offset by rising domestic output, which expanded 5 per cent over the year in April-June. This has also resulted in lower capacity utilization at gas import terminals.

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LPG cylinder carriers of IOC in NE on indefinite strike from Monday

"The IOC authority cancelled the previous tender for carrying LPG cylinders as per direction of the Union Petroleum Ministry. Thereafter, IOC invited us at various places to find out ways to remove suspicion in the minds of existing transporters," NEPLTA president Niranjan Mahanta told PTI.

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8 PSUs surrender 11 coal mines: Coal Minister Pralhad Joshi

"Ministry of Coal has issued an amnesty scheme in May 2022 granting one-time window to allottee government companies to surrender non-operational coal mines without penalty," Joshi explained.

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Unpaid power subsidy, govt department bills keep discoms in red

State governments owed their discoms Rs 1.39 lakh crore in subsidy receivables and unpaid bills of government departments as of March 31, according to a presentation made at the national conclave of chief secretaries presided over by prime minister Narendra Modi in June.

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Natural gas demand dips as power companies, refiners switch to alternative fuels

A part of the decline in imports has been offset by rising domestic output, which expanded 5% over the year in April-June. This has also resulted in lower capacity utilization at gas import terminals.

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Reliance expects gas price to rise in Oct, wants removal of ceiling prices

After remaining a loss-making provision for several quarters, Reliance's gas exploration business has begun reaping rewards of a global surge in energy prices that have already pushed the rates to a record high.

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ONGC inks deal with GAIL, AGCL on Tripura gas sale

The agreement was signed by executive director of ONGC, Tripura Asset, Tarun Malik, managing director of AGCL Gokul Chandra Swargiary and CGM-zonal head, GAIL, R Choudhury on behalf of their respective companies in a brief function here on Friday.

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Reliance Industries joint CFO flags recession as a worry, bats for rollback of windfall tax

A global slowdown or recession is also cause for concern, said joint chief financial officer V Srikanth in a post earnings call on Friday. On July 1, the government imposed a windfall tax of Rs 13 per litre on diesel exports and rs 6 per litre on gasoline exports to limit extraordinary profits of private refiners like RIL, which has been maximising exports from its refineries in Jamnagar, Gujarat.

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Olectra to supply 300 electric buses worth Rs 500 crore to Telangana

According to the statement, the value of this order is approximately Rs 500 crore. EVEY shall procure these buses from Olectra Greentech Ltd, which shall be delivered over a period of 20 months.

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Reliance expects gas price to rise in October, wants removal of ceiling prices

The conglomerate, controlled by billionaire Mukesh Ambani, expects the price cap for its KG-D6 gas sales to rise over the current USD 9.92 per million British thermal units, Sanjay Roy, senior vice-president for exploration and production, said in an investor call following the announcement of the firm's quarterly earnings on Friday.

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Power Ministry asks states to formulate plans for biomass co-firing in power plants

To address the issue of air pollution and to reduce the carbon footprint of thermal power generation, the Ministry of Power issued a revised policy in October last year for the use of agro residue-based biomass and mandated the use of five to seven per cent of biomass co-fired along with the coal for all thermal power plants.

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ONGC inks gas sale agreements for Khubal field in Tripura

GSA is an important milestone in the lifecycle of any gas business, signifying commerciality for producers like ONGC, while ensuring the product reaches the end consumers through marketing and transportation intermediaries such as GAIL and AGCL.

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States get a new green power mandate

The renewable purchase obligation (RPO) specified by the union power ministry for the last three financial years was 17.5 per cent in FY20, 19 per cent in FY21, and 21 per cent in FY22. However, compliance by state distribution companies has been very low.

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Bengal's Deocha-Pachami coal project to have 79 exploratory drillings: Official

The drilling activity is being carried out by the Central Mine and Planning Design Institute (CMPDI) and after it is complete, this subsidiary of Coal India Limited is expected to submit a detailed geological report in the next 16-18 months, an official of West Bengal Power Development Corporation Limited (WBPDCL) said.

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States get a new green power mandate

The renewable purchase obligation (RPO) specified by the union power ministry for the last three financial years was 17.5 per cent in FY20, 19 per cent in FY21, and 21 per cent in FY22. However, compliance by state distribution companies has been very low.

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75 per cent of India’s new passenger vehicle sales in 2050 could be electric: Study

This came to fore in the study ‘India Transport Energy Outlook’ done by Council on Energy, Environment and Water (CEEW), Asia-based not-for-profit policy research institution. According to researchers, the ownership of four-wheelers is expected to grow by nine times in the next three decades.

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India's Reliance Industries profit surges, powered by oil business

The Mukesh Ambani-led conglomerate said consolidated profit rose to 179.55 billion rupees ($2.25 billion) in the three months ended June 30 compared with 122.73 billion rupees a year earlier.

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Reliance warns of global recession headwinds

Crude oil prices have slipped in the past two weeks and if they fall this week, it will be the third weekly drop -- the longest run of declines this year -- primarily due to fears that a global slowdown may dampen demand for fuels.

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Developed countries must take lead in global transition towards net-zero: India

The UN has outlined that in order to keep global warming to no more than 1.5°C, as declared in the Paris Agreement, greenhouse gas emissions need to be reduced by 45 per cent by 2030 and reach net zero by 2050.

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Oil and gas industry delivered $2.8bn a day in pure profit for last 50 years

The analysis, based on World Bank data, assesses the "rent" secured by global oil and gas sales, which is the economic term for the unearned profit produced after the total cost of production has been deducted, The Guardian reported.

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ADB cuts India GDP forecast for FY23 to 7.2% amid inflationary pressure

ADB on Thursday trimmed India's economic growth forecast for current fiscal year to 7.2 per cent from 7.5 per cent as pandemic and war impact is weighing down alongside inflationary pressures.

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JSW Energy net profit surges 179 per cent to Rs 560 crore in June quarter

"Profit After Tax (PAT) stood at Rs 560 crore, which was 179 per cent higher YoY (year on year) compared to a PAT of Rs 201 crore in the corresponding period of previous year (April-June 2021)," a company statement said.

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Jaikumar Srinivasan joins as Director of Finance at NTPC

He has also served as director - finance at the Maharashtra State Electricity Distribution Company and director - finance in the MSEB

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Developed countries must take lead in global transition towards net-zero: India

The UN has outlined that in order to keep global warming to no more than 1.5°C, as declared in the Paris Agreement, greenhouse gas emissions need to be reduced by 45 per cent by 2030 and reach net zero by 2050.

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NTPC inks pact with Moroccan Agency for Sustainable Energy

"India's largest integrated energy company, the NTPC signed an MoU with MASEN (Moroccan Agency for Sustainable Energy) for cooperation in the renewable energy sector during the 17th CII EXIM Conclave on India Africa Growth Partnership held in New Delhi from 19th-20th July 2022," a company statement said.

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Gujarat: State got 1,242cr MNRE aid for solar projects in FY 22

According to top sources in the Gujarat Energy Development Authority (GEDA), the scale of solar power projects has grown dramatically in the state. The state already has installed capacity of 7,806.8MW of solar power generation.

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Green clearances to 83 projects of Coal India: Govt

"Stage-II forest clearance granted for 14 proposals involving 2580.68 Ha of forest land," Coal Minister Pralhad Joshi said in a reply to the Lok Sabha.

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British Cabinet minister to travel to India for climate action

The visit is an opportunity to again engage with India on climate policy as well as strengthen and support progress and delivery of the Glasgow Climate Pact, following COP26 in Glasgow and in the run up to India's G20 Presidency.

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Azure Power develops 25 mw solar power project in Boko Solar Park in Assam

Assam Chief Minister Himanta Biswa Sarma today inaugurated 25 MW Boko Solar Park at Bhalukghata, Boko in Kamrup district, which was build under Build, Own, Operate (BOO) model as a part of Assam Solar Energy Policy, 2017.

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India cuts windfall taxes on fuel exports as global prices fall

New Delhi reduced the windfall tax on diesel and aviation fuel shipments by Rs 2 a liter, and scrapped completely a Rs 6-per-liter levy on gasoline exports, according to a government notification.

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Centre to lift curbs on CPSEs’ renewables imports from China

ET gathers that the Centre has agreed in principle to relax curbs for CPSEs like NTPC engaged in commercial renewable energy projects to get them on a ‘level playing field’ with private sector competitors which do not face import restrictions.

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India's largest floating solar power project becomes operational in T'gana

Energy conglomerate National Thermal Power Corporation (NTPC) has set up the 100 megawatt (MW) plant through Bharat Heavy Electricals (BHEL) under Engineering, Procurement and Construction (EPC) contract.

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Over 50,000 'Suryamitras' trained under skill development programme: R K Singh

SSDP was launched by the Ministry of New and Renewable Energy (MNRE) in 2015 for creating skilled manpower for installation, operation and maintenance of solar power projects, Singh said in a written reply in the Rajya Sabha.

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SunEdison joins hands with Arka Energy to bring solar solutions to India

The state-of-the-art Arka Collection of products developed by Arka Energy, comprises 'PowerRoof' and 'PowerGazebo' designed to turn roof and open spaces in homes into an energy generating asset without compromising on the aesthetics, a company statement said.

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India's renewable energy capacity at 114 GW till June-end

In another reply, Minister of New and Renewable Energy R K Singh said the share of renewable energy (including large hydro) in the total installed electricity generation capacity in the country was 39.85 per cent as on June 30, 2022.

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Assam aiming at meeting 50 per cent of power demand through solar energy by 2026: Himanta

"We have set a target of meeting 50 per cent of our state's power demand through solar energy by 2026. We will be entering into an agreement with Neyveli Lignite Corporation for a 1,000-MW project and have plans for another project of similar capacity," Sarma said, after inaugurating a 25-MW solar plant at Lalpul in Udalguri district.

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India cuts windfall taxes on fuel exports as global prices fall

New Delhi reduced the windfall tax on diesel and aviation fuel shipments by Rs 2 a liter, and scrapped completely a Rs 6-per-liter levy on gasoline exports, according to a government notification.

from Energy-Industry-Economic Times https://ift.tt/kPDlONt

Tax changes to offset duty cut on fuel; boost tax mop-up by Rs 1.35 lakh crore over budget target: Report

The budget has pegged overall tax collection at Rs 19.35 lakh crore. But given these changes in the customs duties on certain imports and the higher inflation-driven nominal GDP growth will lead to better tax revenue for the government to the tune of an additional Rs 1.35 lakh crore than budgeted for FY23.

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NTPC, Indian Oil to set up joint venture firm

Unified in the purpose of increasing the usage and capacity of renewable energy sources in the country, the state-run corporations teamed up for setting up renewable energy-based power plants for Indian Oil refineries, it stated.

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Russia's oil deliveries to India are 30 per cent below peak

While it’s too early to say with confidence that self-sanctioning and pressure from the US on India, China and other buyers will have a sustained impact, there are early signs that the Asian nations may not be able to fully replace Russia’s European buyers.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/HnXe6V0

Russia's oil deliveries to India are 30% below peak

There’s still a long way to go before the drop in shipments hits the Kremlin's war chest hard enough to give President Vladimir Putin second thoughts about his invasion of Ukraine.

from Energy-Industry-Economic Times https://ift.tt/rEq0CaS

Tax changes to boost FY23 tax mop-up by Rs 1.35 lakh crore over Budget target

According to a new report, thanks to new measures by the government, India is set to rake in Rs 1.35 lakh crore extra for FY23. Current estimates had pegged overall tax collection at Rs 19.35 lakh crore.

from Energy-Industry-Economic Times https://ift.tt/H3y5Vkm

Vedanta to bring into operation 2 coal blocks in FY23

Vedanta Limited is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

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Green hydrogen demand in steel, mobility, natural gas sectors to require $78-bn funding in India

These sectors are expected to create an additional green hydrogen demand of 3.5 MTPA

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Andhra Pradesh govt eyes foreign investment in renewable energy sector

According to the government’s initial estimates, about 5 lakh acres of land can be leased out for these projects, equipment manufacturing facilities, etc. in the state. The government reached out to the delegation of the government of Western Australia in Visakhapatnam on Saturday and explained the state’s thrust on renewable energy.

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Torrent Power eyes renewable energy capacity addition via new bids, acquisitions

Chairman Samir Mehta has cited the recent coal shortage and the Russia-Ukraine war -- which crippled power generation in the country, as reasons for the need to move towards a sustainable future by increasing energy output through clean sources in India.

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Vizag gets another floating solar power project on Meghadrigedda

The Asian Development Bank has granted ₹14 crore ‘urban climate change resilience trust fund’ for this floating solar initiative under the ‘Visakhapatnam-Chennai Industrial corridor development programme’.

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Torrent Power eyes renewable energy capacity addition via new bids, acquisitions

Chairman Samir Mehta has cited the recent coal shortage and the Russia-Ukraine war -- which crippled power generation in the country, as reasons for the need to move towards a sustainable future by increasing energy output through clean sources in India.

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Chattisgarh uses solar power to brighten public health

The chief engineer of Chhattisgarh State Renewable Energy Development Agency (CREDA), Sanjeev Jain, told TOI that there are around 790 functioning primary health centers in the state and many of them face regular power outages at peak patient arrivals. To fix the issue, all these health centers are now being electrified through solar energy, he said.

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India's fuel demand falls in July as monsoon sets in

The arrival and intensity of monsoon weighs heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June. Floods restrict mobility and demand from the farm sector, which uses diesel in irrigation pumps and trucking, also drops with the onset of rains.

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Welspun CEO Vipul Mathur says oil & gas firms focusing on capex again

"Every exploration and production company in the world wanted to go green and move to renewables. But the harsh reality is that while renewables is definitely the way forward, they are not yet to replace fossil," said Vipul Mathur, who is also its managing director.

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Joe Biden vows 'strong' climate action despite dual setbacks

Biden, who has pledged to cut greenhouse gas emissions in half by 2030, compared with 2005 levels, said Friday that "action on climate change and clean energy remains more urgent than ever.''

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CIL authorises PT Bara Daya Energy to import 7.91 lakh tonnes coal for supply to gencos

According to sources, the letter for award of contract was issued to the L1 vendor of medium term tenders for east and west coast supply on July 9.

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West Bengal eyes 20 per cent renewable energy by 2030

"We have set the target of generating energy from renewable sources at 20 per cent by 2030," said Nandini Chakravorty, the principal secretary of the Non-conventional and Renewable Energy Sources Department.

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Top court stays Bombay High Court's order in BEST's e-bus dispute

The court was hearing a plea filed by the Telangana-based company to challenge the High Court's order in the Supreme Court.

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Automobile industry body SIAM seeks reduction in CNG prices

In a statement issued on Friday, the automobile industry body noted that there has been an exponential increase in the CNG prices in the last few months.

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Hardeep Singh Puri dedicates 166 CNG stations across 14 states

These CNG stations have been set up by GAIL (India) Limited and nine of its group City Gas Distribution (CGD) companies in 41 Geographical Areas (GAs) across 14 states.

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Welspun CEO Vipul Mathur says oil & gas firms focusing on capex again

"Every exploration and production company in the world wanted to go green and move to renewables. But the harsh reality is that while renewables is definitely the way forward, they are not yet to replace fossil," said Vipul Mathur, who is also its managing director. Companies and countries did not invest in pipelines and development of oil and gas assets, which are coming back into play, he added.

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Why states need to be on same page on electric vehicle policy

In contrast to Delhi and UP, Haryana’s draft policy does not have an overall electrification target but only aims to convert 100 per cent of the buses owned by the state transport undertakings to e-buses (battery e-vehicles or fuel cell e-vehicles) by 2029, with the first phase of 100 per cent conversion of bus fleet in Gurgaon and Faridabad by 2024.

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India needs USD 15 bn funding to set up 15 GW hydrogen capacity by 2030: V K Saraswat

"India will require an estimated USD 15 billion in public and private funding to set up 15 GW of green hydrogen by 2030, V. K Saraswat, Member, NITI, Aayog said pointing out that green hydrogen is the future," the CII said.

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NTPC co-fires 77,000 tonne biomass at 14 thermal power plants: company official

Company's Director (Operations) Ramesh Babu made the remarks at a workshop organised in Chandigarh in association with SAMART (Sustainable Agrarian Mission on use of Agro Residue in Thermal Power Plants) on 'Ex-situ utilisation of agricultural residue for co-firing in thermal power plants', NTPC said in a statement.

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Indian EV ride-hailing firm BluSmart close to raising $250 mln: CEO

BluSmart, which runs an all-electric vehicle (EV) fleet, was expecting to finalise deals with impact funds and private equity investors within the next two months, Anmol Jaggi said.

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IIT-Bombay prof on 11-year ‘energy swaraj yatra’ aboard solar-run bus

On Thursday, Solanki reached Kolkata to build a movement for low-carbon footprint life as the climate clock is ticking fast.

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India has found a way towards mass electrification: swap batteries

The solution, where empty batteries can be exchanged for charged-up ones, is still in nascent stages in China, the world’s largest EV market, where it is anchored in strong government policy. Elsewhere, it hasn’t quite taken off. But for India, it could help leap-frog the nation’s bid to reduce transport emissions and boost its electric footprint.

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REC for selling PFC stake in Co to PGCIL

In a presentation made to the power ministry in the last week of June, REC suggested a non-banking public sector company acquire PFC's stake in the company.

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CBI arrests seven ECL officials in Bengal coal scam

CBI sources said their sleuths started a marathon interrogation of the seven ECL officials since Wednesday morning. However, there were lots of inconsistencies in their statements following which they were finally arrested on late Wednesday evening by the sleuths of the anti-corruption branch of CBI.

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TP Saurya bags 600-MW wind solar hybrid project in Karnataka

"TP Saurya Ltd (TPSL), a wholly-owned subsidiary of Tata Power, received the 'Letter of Award' (LoA) from Solar Energy Corporation of India (SECI) for setting up a 600 MW hybrid (wind and solar) power project in Karnataka," a statement said.

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India on track to add 27k circuit km power transmission lines by 2024: Official

The power transmission network expansion has been planned keeping in mind the ultimate goal of having 500 GW of non-fossil fuel based electricity generation capacity in the county.

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JSW Neo Energy bags 300 MW wind energy project

The company bagged the project in a tariff-based competitive bids invited by SECI for setting up of 1,200 MW ISTS-connected wind power projects (Tranche - XII), it said.

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Windfall tax review more likely than expected after sharp fall in global crude prices

In a surprise move, the government on July 1 slapped export duties on petrol and ATF (Rs 6 per litre or USD 12 per barrel) and diesel (Rs 13 a lire or USD 26 a barrel) and imposed a windfall tax on domestic crude production (Rs 23,250 per tonne or USD 40 per bbl).

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RE sector has potential to employ 10 lakh individuals by 2030: IREDA

"India's Renewable Energy (RE) sector could potentially employ around 10 lakh people by 2030, which would be ten times more than the existing workforce of an estimated 1.1 lakh employed by the sector," he said delivering the keynote address at an event on Renewable Energy Management for Cooperatives.

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Punjab to be renewable energy efficient: Minister Aman Arora

While chairing the first meeting of the Punjab Energy Development Agency (PEDA) here, he said the government led by the Chief Minister Bhagwant Singh Mann is fully committed to create an atmosphere congenial to environment, apart from boosting the modern sources of energy aided by the conventional ones.

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SJVN inks pact with Solarworld Energy Solutions to build two solar projects for Rs 690 crore

"SJVN today entered into an EPC (Engineering Procurement & Construction) contract for two projects namely 75 MW Solar Project at Gurah district Jalaun and 50 MW Solar Project at Gujrai district Kanpur Dehat with Solarworld Energy Solutions Private Ltd," a company statement said.

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Power minister R K Singh expects energy crisis to persist

"This crisis is going to stay," Minister of Power Raj Kumar Singh said at the Sydney Energy Forum, co-hosted by Australia and the International Energy Agency. "I believe this crisis has been in the making for some time."

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ReNew becomes first Indian renewable energy firm to refinance dollar-denominated bonds

"ReNew Energy Global plc (ReNew), India's leading renewable energy company, has successfully refinanced its 2024 maturity dollar-denominated bonds with amortising project debt from an Indian non-bank financial company, becoming the first Indian renewable energy company to do so," a company statement said.

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GST hike to nullify progress of last 8 Yrs: LED makers

LED lamp manufacturers including Bajaj, Havells and Century said the rate hike would widen the gap between inefficient bulbs and LED lamps and slow down the transition.

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Parameswaran Iyer takes charge as Niti Aayog CEO

"With over 25 years of experience in the water and sanitation sector, Iyer spearheaded the implementation of the India's flagship $20 billion Swachh Bharat Mission, which successfully delivered access to safe sanitation to 550 million people," the statement said.

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Bhagwanth Khuba assures constant support to IREDA in funding renewable energy projects

According to an official statement, Khuba reviewed the performance and the future roadmap of the IREDA (Indian Renewable Energy Development Agency) which has been engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy.

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HC restrains Centre from taking steps concerning order imposing Rs 66 crore penalty on NTPC

The court observed that the "matter requires consideration" while noting that the action under challenge is initiated against a government company and that no reasons were recorded by the concerned authorities while rejecting the contentions raised before it.

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CESL begins deliberations on expediting deployment of 50,000 electric buses across India

After the success of the Grand Challenge that helped discover the lowest-ever prices for electric buses (e-buses), CESL, supported by WRI India, kick-started deliberations to expedite the deployment of 50,000 electric buses (e-buses) on Indian roads by 2030, a statement said.

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Russia's share of India's June oil imports surges to record

Indian refiners have been snapping up Russian oil sold at hefty discounts to Brent and Middle East staples after some Western companies and countries shunned purchases from Moscow following its invasion of Ukraine on Feb. 24..

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/p9kLVcN

Bhagwanth Khuba assures constant support to IREDA in funding renewable energy projects

According to an official statement, Khuba reviewed the performance and the future roadmap of the IREDA (Indian Renewable Energy Development Agency) which has been engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy.

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Competition Comm clears Shell-Solenergi Power deal

Incorporated in Mauritius, Solenergi Power Pvt Ltd supplies solar and wind power to electricity distribution companies in India. It is the direct shareholder of the Sprng Energy group of companies in India.

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Fuel sales in June rise 5.6% from pre-Covid level

The sales were higher by 23% and 24% for petrol and diesel, respectively from a year earlier, mainly due to the demand sluggishness of last June when the country was still in the grip of the second wave of the Covid-19 pandemic.

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AG&P Pratham plans Rs 9,000-crore city gas distribution push

The investments would be towards expanding city gas distribution (CGD) infrastructure and setting up new compressed natural gas (CNG) stations, among other areas.

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NMDC keen to invest in green energy, looking to set up solar plants in Telangana: Chairman

The state-run mining company is keen to invest in renewable energy, Deb told PTI, without sharing details about the investment.

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Electricity bills in Delhi go up with 4% rise in PPA cost

The PPAC is a surcharge to compensate the discoms for variations in the market-driven fuel costs. It is applied as a surcharge on total energy cost and fixed charge component of an electricity bill, officials said.

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NTPC aims to raise Rs 5,000 crore via stake sale in green arm

Under the government of India's National Monetisation Pipeline (NMP), various ministries have been assigned targets to raise funds through monetisation of assets of public sector undertakings that come under their fold.

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Tamil Nadu absorbs record 120.25 MUs of wind energy in a day

Till Saturday, Tangedco has absorbed 935.74 million units of wind energy this month alone, in which 100MU mark was achieved six times.

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NMDC keen to invest in green energy, looking to set up solar plants in Telangana: Chairman

The state-run mining company is keen to invest in renewable energy, Deb told PTI, without sharing details about the investment.

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NTPC aims to raise Rs 5,000 crore via stake sale in green arm

Under the government of India's National Monetisation Pipeline (NMP), various ministries have been assigned targets to raise funds through monetisation of assets of public sector undertakings that come under their fold.

from Energy-Industry-Economic Times https://ift.tt/XLdHmVh

AG&P Pratham plans Rs 9,000-crore city gas push

The investments would be towards expanding city gas distribution (CGD) infrastructure and setting up new compressed natural gas (CNG) stations, among other areas. "We would be investing in steel pipelines, in polyethylene pipelines, setting up of CNG stations, purchase of land parcels, among others. This is a very capital-intensive project," said Chiradeep Datta, chief operating officer, AG&P Pratham.

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IREDA committed to increasing participation of MSMEs in RE by offering more loans

Addressing the conclave organised by MSME Business Forum India, Minister of State for Finance Bhagwat Karad lauded the efforts of the IREDA for the overall development of the renewable energy sector.

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IREDA committed to increasing participation of MSMEs in RE by offering more loans

Addressing the conclave organised by MSME Business Forum India, Minister of State for Finance Bhagwat Karad lauded the efforts of the IREDA for the overall development of the renewable energy sector.

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India may increase coal imports from Russia to 40 MT by 2035: Russian official

"The volumes of supplies to India have increased. No more than 7 million tonnes used to be delivered there. There exists an intergovernmental memorandum on coking coal, they are also interested in thermal coal.

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REC, CEEW ink pact to work on improving discoms' operational, financial sustainability

CEEW's research will also help to leverage smart metering infrastructure for improved service delivery and ensure a positive consumer experience, it said.

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ONGC, OIL big winners of OALP-VII bid round; govt offers 10 block in OALP-VIII

Oil and Natural Gas Corporation (ONGC) won three blocks in the OALP-VII round while Oil India Ltd (OIL) won two, according to information posted by the DGH.

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10 oil & gas blocks open for bidding

The ten blocks in the current round are spread across nine sedimentary basins and comprise two on-land, four shallow water, two deep-water, and two ultra-deep-water blocks.

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India may increase coal imports from Russia to 40 MT by 2035: Russian official

Earlier, the Indian government had approved a pact between India and Russia regarding cooperation on coking coal, a key steel making raw material, for which domestic players remain dependent on imports from a select group of countries. Around 85 per cent of India's coking coal demand is met through imports.

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Need to ensure 100 per cent renewables alongside electric vehicles to tackle climate crisis: Experts

According to official data, there are 1,39,945 registered electric vehicles in Delhi as of March 21, 2022. This year electric vehicles accounted for more than nine per cent of all vehicles registered in the national capital, up from nearly three per cent in 2018.

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Power tariff to rise 60-70 paise per unit for blending imported coal: RK Singh

Energy consumption has jumped about 25 per cent and peak demand has also risen by 15 per cent in the last one year, the Union power minister said.

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Hydropower: Himachal residents refuse to attend World Bank's stakeholder consultation

"The World Bank cannot be lending support to the Himachal government without a fair review of the impacts of the state's hydropower development programme up to date and a transparent and participatory critical review of the current energy policy," it said in the letter shared with IANS.

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CESL plans to hit about 1000 EV charging points by March 2023

N Mohan, head-EV charging infrastructure, CESL said, “We’re working on two business models – invest in public charging infrastructure on our own as well as collaborate with charge point operators on a build-operate-own model.”

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NTPC REL joins hands with GACL to set up India's first commercial-scale green ammonia project

NTPC Limited has been at the forefront of renewable energy capacity development and has been credited for bringing the lowest ever solar tariff in the country.

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India and China funnel $24 billion to Putin in energy spree

The higher spending is helping make up for decreased purchases from the US and some other nations that have halted or slowed buying to punish Russia for the war. The bans have sent prices for alternative supplies soaring and spurred crippling inflation that threatens to send major economies into recession.

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CII urges govt to make solar power cost-effective for domestic users

CII also said that the government can enable residents to invest in solar plants that are installed on government buildings in lieu of which, the consumer will receive a corresponding rebate in the electricity bill.

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Tussle over $5 billion wages a new risk to India's coal supply

Workers are seeking a 47 per cent increase in wages -- having earlier demanded a 50 per cent hike -- while Coal India has offered a 3 per cent raise. A group of unions has written to the nation’s Coal Minister Pralhad Joshi and urged him to intervene to help the sides conclude negotiations.

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Petronas Hydrogen and Continental Automotive to invest Rs 32,000 crore in Karnataka

Additional Chief Secretary in the department of Commerce and Industries EV Ramana Reddy signed the MoUs with Petronas Hydrogen CEO Adlan Ahmaad and Continental Automotive CEO Prashant Doreswamy.

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Petronas Hydrogen and Continental Automotive to invest Rs 32,000 crore in Karnataka

Additional Chief Secretary in the department of Commerce and Industries EV Ramana Reddy signed the MoUs with Petronas Hydrogen CEO Adlan Ahmaad and Continental Automotive CEO Prashant Doreswamy.

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Tussle over $5 billion wages a new risk to India's coal supply

Workers are seeking a 47% increase in wages -- having earlier demanded a 50% hike -- while Coal India has offered a 3% raise. A group of unions has written to the nation’s Coal Minister Pralhad Joshi and urged him to intervene to help the sides conclude negotiations.

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NCLAT paves way for NTPC's Jhabua buy

On Monday, the adjudicating authority rejected Gautam Thapar-promoted Avantha Group's claim that NTPC is ineligible to acquire the distressed thermal power unit due to defaults by its affiliate companies - Ratnagiri Gas and Power (RGPPL) and Konkan LNG.

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Natural gas soars 700%, becoming driving force in the new Cold War

It’s the war in Ukraine that catalyzed the gas crisis to a new level, by taking out a crucial chunk of supply. Russia is cutting back on pipeline deliveries to Europe — which says it wants to stop buying from Moscow anyway, if not quite yet. The scramble to fill that gap is turning into a worldwide stampede

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Huge oil deposit in Russian Arctic could open new opportunities for India

The field was discovered due to a drilling campaign in the Medynsko-Varandeysky area. “During the tests, a free flow of oil was obtained with a maximum flow rate of 220 cubic meters a day,” the company’s statement read on Wednesday, noting that the “oil is light, low-sulfur, low viscosity.”

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Government likely to provide excise concession on 12% and 15% ethanol blended petrol

India achieved 10 per cent ethanol blending five months before the target recently and is now moving towards 20% blending target to be achieved by 2025-26.

from Energy-Industry-Economic Times https://ift.tt/I1TLsZN

Huge oil deposit in Russian Arctic could open new opportunities for India

The field was discovered due to a drilling campaign in the Medynsko-Varandeysky area. “During the tests, a free flow of oil was obtained with a maximum flow rate of 220 cubic meters a day,” the company’s statement read on Wednesday, noting that the “oil is light, low-sulfur, low viscosity.”

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Coal block allotted on June 28 cuts through Muniya Reserve in Umred

Muniya already has several species of wildlife, including schedule-I animals like tigers, leopards, gaurs and sloth bears. On June 28, the 15th tranche of coal mines auction was held in which Dahegaon/Makardhokda-IV coal block was bagged by Avassa Ferro Alloys Private Limited, Chhattisgarh, and KJS Cement (I) Limited, MP.

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NTPC-REL, NFL to collaborate in renewable energy and green ammonia

The firms also plan to explore opportunities to supply of 90 MW round-the-clock RE power in phases

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Proposal to install solar panels on canals across Haryana: Power Minister

"The Power Department is preparing a proposal to set up power plants through solar panels to be installed on canals across the state," he said while presiding over an official meeting in Fatehabad.

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Power plants can now sell surplus outside PPAs

The power ministry has issued a clarification to the emergency clause invoked in May this year that mandated non-operational imported coal-based plants to start generation amid a sharp rise in power demand.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/tiTWDl0

Power plants can now sell surplus outside PPAs

The power ministry has issued a clarification to the emergency clause invoked in May this year that mandated non-operational imported coal-based plants to start generation amid a sharp rise in power demand. They could sell surplus electricity on the power exchanges if the beneficiary states did not buy the entire electricity generated.

from Energy-Industry-Economic Times https://ift.tt/2LkOfN9

LG Mathur meets Union Min R K Singh, discusses issues related to power sector in Ladakh

The spokesperson said the Lt Governor also sought the minister's intervention in settling issues related to land, expediting the survey and other study-related work for the 10 GW solar project at Pang.

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NGSL to build balance of systems for 325-MW solar projects in MP

NTPC-GE Power Services Pvt Ltd (NGSL) has received two awards from NTPC Renewable Energy Limited (NTPC-REL) for engineering, procurement and construction of balance of system at two sites with 105 MW and 220 MW capacity, respectively, along with operation and maintenance for three years, the company said in a statement.

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Adani Enterprises lowest bidder in CIL import tender

Adani Enterprises has bagged multiple coal import contracts from NTPC between January and June. The Adani Group in December last year shipped out the first consignment of coal from its Carmichael mines in Queensland, Australia.

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Discoms outstanding dues to gencos rise 4 pc to Rs 1.32 lakh cr in June

Discoms owed a total of Rs 1,27,306 crore to power generation firms in June 2021, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators).

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NGSL to build balance of systems for 325-MW solar projects in MP

NTPC-GE Power Services Pvt Ltd (NGSL) has received two awards from NTPC Renewable Energy Limited (NTPC-REL) for engineering, procurement and construction of balance of system at two sites with 105 MW and 220 MW capacity, respectively, along with operation and maintenance for three years, the company said in a statement.

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Windfall tax to recoup most of Rs 1 lakh cr revenue lost in excise cuts

The tax on crude oil producers like Oil and Natural Gas Corporation (ONGC), Oil India Ltd and Vedanta Ltd alone will fetch the government Rs 69,000 crore annually considering 29.7 million tonnes of oil production in 2021-22 fiscal (April 2021 to March 2022), two sources with knowledge of the calculations said.

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NTPC arm to develop 10GW renewable energy park Rajasthan

The company said that in less than 2 years since its inception, NTPC REL has won 4 GW renewable energy capacity by bidding in various tenders which are under different stages of implementation

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JSW Steel to invest Rs 10K cr to increase use of renewable energy, reduce emissions: Sajjan Jindal

JSW Steel has already contracted for 1 GW of renewable energy, of which 225 MW has become operational in April 2022

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NTPC-GE Power to build balance of systems for 325-MW solar projects in Madhya Pradesh

The projects are located at Shajapur Solar Park in Madhya Pradesh, which is being developed by Rewa Ultra Mega Solar

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JSW Steel to invest Rs 10K cr to increase use of renewable energy, reduce emissions: Sajjan Jindal

JSW Steel has already contracted for 1 GW of renewable energy, of which 225 MW has become operational in April 2022

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India's fuel sales soar in June

This was 10.5 per cent higher than sales in pre-pandemic June 2019 and 33.3 per cent more than June 2020. It was 11.5 per cent higher than 6.7 million tonnes of consumption during May this year.

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Discoms outstanding dues to gencos rise 4% to Rs 1.32 lakh crore in June

In June 2022, the total overdue amount, which was not cleared even after 45 days of grace period offered by generators, stood at Rs 1,15,128 crore as against Rs 1,04,095 crore in the same month a year ago. The overdue amount stood at Rs 1,07,636 crore in May 2022.

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State-run retailers' petrol sales rise 29%, diesel 35%

Monthly sales also look higher due to the low base in June last year when the country was still in the throes of the second wave of the pandemic. Compared to June 2019, sales were 16.5% higher for petrol and 10.5% for diesel, as per the preliminary sales data from state-run oil companies that control 90% of the fuel stations in the country.

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Chandigarh: City to have 10 solar plants likely by Aug ’23

Under ‘Azadi Ka Amrit Mahotsav’ campaign, Crest will also build two floating solar power plants in the city, a 2MW one at Sector 39 waterworks and a 500KW one at the Dhanas lake. Crest CEO Debendra Dalai briefed the UT adviser, while the administration already has shared details with the Centre.

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JPMorgan sees ‘stratospheric’ $380 oil on worst-case Russian cut

A 3 million-barrel cut to daily supplies would push benchmark London crude prices to $190, while the worst-case scenario of 5 million could mean “stratospheric” $380 crude, the analysts wrote.

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J'khand to unveil new solar policy targeting to generate 4,000 MW in 5 yrs

The Jharkhand Solar Policy, 2022, which also seeks to create jobs, growth opportunities and sustainability, will be unveiled by Chief Minister Hemant Soren on July 5, the official said.

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Duty Hike: State-run OMCs optimistic of increased fuel supply

To regulate prices and maintain the stock of petroleum products in the domestic market, the government increased the export duty. The move comes after over a week of the government bringing all petrol pumps under universal service obligation to ensure fuel availability.

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Opinion: Meeting the clean energy deficit

In the last decade and especially in the past five years, decentralized solar in the form of off-grid, rooftop and standalone PV system has come out as a key solution to the clean energy problem. Decentralized power generation offers greater flexibility and the ability to isolate in the time of grid disturbances.

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Oil prices rise after falling 3 per cent in previous session

Brent crude futures rose 83 cents, or 0.8 per cent, to $109.86 a barrel by 0012 GMT. WTI crude futures for August delivery rose 70 cents, or 0.7 per cent, to $106.46 a barrel.

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India's power consumption grows 17.2 pc to 134.13 bn units in June

Power consumption in June last year was recorded at 114.48 BU, which was higher than 105.08 BU in the same month of 2020, according to power ministry data. Moreover, peak power demand met, which is the highest supply in a day, during June this year remained at an all-time high of 209.80 GW (on June 8). The peak power supply stood at 191.24 GW in June 2021, and 164.98 GW in June 2020.

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