Adani FPO sails through with help from fellow industrialists

While the portion of a follow-on share sale in Adani Enterprises Ltd reserved for anchor investors was fully subscribed last week, institutional and other non-retail investors helped the offer reach desired subscription levels hours before the sale closed, according to data available from BSE.

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Sebi meets ratings firms over Adani companies

Assessors including Crisil, the local arm of S&P Global Ratings, made a presentation to Sebi in recent days, said the people, who declined to be identified as the discussions were private.

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Need to create strategic mineral reserves to ensure continuous supply, says Economic Survey

“While the demand for critical minerals is set to increase because of the global preference and emphasis towards renewable energy, the global supply chain of the critical minerals is highly concentrated and unevenly distributed,” the survey said.

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Budget 2023: Expectations of the renewable energy industry

The industry expects the Budget to include the MSME sector in the production-linked incentive (PLI) scheme, and highlighted that policy continuity is a must to bring investments into green projects.

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First time since April, MGL cuts CNG price by Rs 2.50 per kg; leaves PNG prices unchanged

Since April 6, the price of CNG had gone up by Rs 29.50 per kilogram and that of piped natural gas (PNG) for residential use by Rs 18.50 at Rs 54. CNG price on November 4, 2022 had peaked at Rs 89.50 per kilogram and that of PNG at Rs 54 a kg.

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Global commodity supply disruptions can intensify in coming years, says Economic Survey

“Supply disruptions could intensify over the coming year, as the war in Ukraine will lower global production of wheat, maize and fertilisers, while price caps on Russian oil and gas may reduce the supply of these products,” the Economic Survey said. The survey has warned that the re-emergence of Covid-19 in China could trigger supply chain disruptions as happened during the pandemic period.​

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India's Reliance stops local petcoke sales, boosts imports

With Reliance's petcoke no longer available domestically, India's imports are likely to rise, after doubling last year because of higher demand from cement makers, who use the petcoke to manufacture the building material. Reliance was the country's biggest domestic supplier until 2021.

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TN power utility seeks approval to purchase solar power from farmers

The solar power will be purchased under the Prime Minister's Kisan Urga Suraksha Evam Utthan Mahabhiyan (KUSUM) scheme which is intended to double the income of the farmers. Tangedco, according to officials, will buy solar power from farmers at a cost of Rs 3.30 per unit.

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Russian gas supply hit pushes India's GAIL to scout for long-term LNG

​​India's largest gas distributor reported a 93 per cent decline in its December quarter net profit as it transmitted less gas locally due to a reduction in liquefied natural gas (LNG) supply from a deal with Gazprom Marketing and Singapore (GMTS).

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Adani stocks fall sharply; Adani Total Gas tumbles over 39 pc in 3 days

Since Tuesday's close last week, shares of Adani Total Gas tanked 39.57 per cent, Adani Transmission tumbled 37.95 per cent, Adani Green Energy declined 37.93 per cent, Ambuja Cements went lower by 22.28 per cent and Adani Ports fell 21.55 per cent on the BSE.

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Adani's $2.5 billion share sale faces crucial day after Indian rout

Seven listed companies belonging to the Adani conglomerate, which is led by Asia's richest man, saw sharp falls in their values after Hindenburg Research report last week flagged concerns about high debt levels and the use of tax havens.

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Bhopal: BMC seeks 90cr loan for Neemuch project

Three days later, BMC set for seeking expression of interest (EoI) for a long tenure term loan of Rs 90 crore for installation of 20MW solar phase- 1, 20MW solar phase- II and 15 MW wind energy project. Along with there is also a one MW rooftop project. The proposals had caused an uproar after which they were withdrawn by BMC mayor Malti Rai.

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Maharashtra: In 6 years, rooftop solar power production rises to 1,300MW

According to MSEDCL, the rooftop solar scheme is being implemented in the state in collaboration with the Centre's new and renewable energy ministry from 2016-17. In the first year, just 1,000 consumers were part of it, while the number has now increased to over 76,000, mainly from the bigger housing societies across the urban areas in major cities.

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Adani’s 413-page reply to Hindenburg after $51 billion wipeout

The lengthy response comes ahead of the final few days of a $2.5 billion share sale by Adani Enterprises Ltd., which received overall subscriptions of 1 per cent on Friday.

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View: India's low coal stocks threaten electricity supply

Stocks at power producers are equivalent to less than 12 days of consumption, up from 9 days this time last year but much leaner than 18 days in 2021 and 19 days in 2020. Inventories normally accumulate from October to March, when air-conditioning and refrigeration demand is lower, and deplete from April to September, when cooling demand is high and mine output is disrupted by monsoon rains.

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Why 2023 will be a critical year for enabling a rapid energy transition

While initiatives taken and being announced are noble it needs to be seen that the same are implemented through the creation of an enabling policy, regulatory and financial and government support.

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Oil Ministry accepts recommendations for pricing natural gas at 10% of crude

The oil ministry's proposal also includes a provision for an annual increase of $0.50 per mmBtu in the APM gas price ceiling, elimination of the price ceiling for gas from difficult fields in 2026 and the end of price regulation for APM gas in 2027.

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Former UN chief calls for climate action over 'visions' at COP28

The South Korean diplomat, who co-chairs the Ban Ki-moon Centre for Global Citizens, was in the UAE this weekend to launch a partnership with Dubai Cares, a civil society organisation focused on training youth on "green skills".

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Why India needs to unleash carbon capture to combat climate change

As the clock keeps ticking on the burning issue of climate change, a robust CCUS policy framework makes not only climate sense but also economic sense.

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Gautam Adani: Asia's richest man in the eye of a storm

Adani, whose home state is Gujarat in western India, built his business empire from scratch after starting as a commodities trader. India's Prime Minister Narendra Modi hails from the same state and their relationship has come under intense scrutiny by Modi's opponents for years.

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Adani FPO subscribed 1 pc on opening day

Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".

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Adani rules out changes in price, dates of FPO; confident of share sales going through

The FPO got subscribed just one per cent on the opening day on Friday. Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh shares were subscribed, according to information available from the BSE.

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Budget 2023 wishlist: clean energy, skilled workforce, geo-spatial mapping

While skill development needs a lot of attention, climate change is not far behind. Industry is looking up to the Union Budget on steps to fight the climate crisis.

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IOCL exports AVGas to Papua New Guinea

Indian Oil launched the indigenous production of aviation fuel AVGAS 100 LL on September 26, 2022 at Air Force Station, Hindan and the same is now being extensively used in the domestic market. The present production of AVGAS 100 LL is being done from Indian Oil’s Gujarat Refinery which has a capacity of 5TMT per annum.

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Luminous to build India's first green solar panel factory in Uttarakhand

The state-of-the-art facility will be equipped with the latest technology to design and produce high-quality solar panels that will be used for both residential and commercial applications, it stated.

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Govt should promote auxiliary manufacturing in solar sector: Bharat Bhut, director, Goldi Solar

Strong policies to support partially integrated OEMs is also required, he adds

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Congress seeks SEBI, RBI probe into Hindenburg charges against Adani Group

Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.

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Clean energy sets $1.1-trillion record that’s bound to be broken

Renewable energy and electrified transport reaped most of those dollars. Those sectors were buoyed by soaring installations of wind and solar — with more than 350 gigawatts of assets built — and sales of 10-million-plus electric vehicles globally.

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India's EV dawn fans expectations fuel demand may peak early

The faster-than-anticipated EV industry growth means India's gasoline consumption will peak sooner than previously thought, some analysts and industry participants say, forcing top oil firms to expedite transition plans to alternative business lines, notably increased petrochemical manufacturing.

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Kutch heritage, Modhera solar-powered village: Showpieces of Guj R-Day tableau

The village of Modhera, famous for its Sun Temple, and being India's first round-the-clock solar-powered village has also been showcased in the float.

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Public Power Corp, RWE to build five solar power farms in Greece

The farms will cost 180 million euros ($196 million) and have a total capacity of about 200 megawatts (MW). They are expected to be fully operational by the end of the first quarter of 2024, the companies said in a joint statement.

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Russian oil exports to India may hit new highs as interest grows

The South Asian nation increased Russian oil imports in 2022, ending the year with record monthly volumes as discounted barrels enticed buying. Executives said more cheap crude may be available to India from early next month, with a European Union ban on seaborne Russian fuel shipments possibly weighing on refining rates in the key OPEC+ producer.

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Adani group looks to invest in petrochem, mining in Azerbaijan

"During the conversation, the parties discussed Azerbaijan's attractiveness for foreign direct investments, the development of the country's economy, and the prospects for cooperation with the Adani Group in petrochemical, mining and metallurgical industries, as well as other areas of mutual interest," it said.

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OPINION: Open innovation and collaborative efforts to tackle climate change

With continued challenges on financial commitments by different countries on cleantech investments in the backdrop of the worsening effects of climate change, innovation is expected to play a critical role in decarbonization across different sectors.

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Draupadi Murmu points to climate change challenges, India's G20 presidency

She also drew upon the dilemma faced by the developing world - the need to uplift more people from poverty through economic growth, which is inevitably tied to fossil fuels - and how India was still making big moves on renewable energy.

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ONGC: Arun Kumar Singh is now CEO as well

The government on December 7 named Arun Kumar Singh, who had a couple of months back retired as head of Bharat Petroleum Corporation Ltd (BPCL), as the chairman of ONGC but not as its managing director.

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GE forecasts weak 2023 profit on troubles at renewable energy business

Shares of GE fell about 1% before the opening bell after the company forecast an operating loss between $600 million and $200 million for its energy business GE Vernova in 2023.

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India ranks in top 7 nations with prospective renewable power

According to the data of the Global Solar and Wind Power Trackers, this buildout can avoid the use of almost 78 million tonnes of coal annually, or roughly 32 GW in coal power plant capacity. Annual savings in India can skyrocket if the coal-to-clean switch matches the country’s ambitions.

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Grenergy aims to sell minority stake in Spanish solar power assets

"In relation to the news published in some media today regarding the minority stake sale of 1.1 gigawatt-peak (GWp) of solar projects in Spain, Grenergy confirms the sale process," the company said.

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India in top 7 nations with prospective renewable power

According to the data of the Global Solar and Wind Power Trackers, this buildout can avoid the use of almost 78 million tonnes of coal annually, or roughly 32 GW in coal power plant capacity. Annual savings in India can skyrocket if the coal-to-clean switch matches the country’s ambitions.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/iUd04c2

Policy in works to draw private sector into coal gasification

While the current coal production in India is somewhat in line with demand, it is expected that with the augmented production at commercial coal mines, the supply of the fuel will increase in the next couple of years.

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BPCL to set up 1 GW renewable energy plant in Rajasthan

The company has set itself the ambitious goal of 'net zero' in Scope 1&2 emissions by 2040. It plans to expand its renewable portfolio to reach 1 GW of generating capacity by 2025 and 10 GW by 2040.

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India’s net zero ambition has a coal quandary: Can emerging cleantech solve it?

For reasons of energy security, India to rely on domestic coal until viable alternatives emerge.

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Russia ramps up January oil exports, India remains top buyer

Around 70 per cent of January cargoes of Urals oil are heading to India, according to traders' data and Reuters calculations. India has been a top buyer of the Russian grade for several months now, filling the void left by EU buyers.

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Goyal asks businesses to adopt green approach

Addressing the Inception Meeting of Business 20 (B20), the official G20 dialogue forum with the global business community in Gandhinagar, he highlighted that India had always stood for sustainable development.

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India key partner in fight against Climate Change: EU climate chief

There has been a "real change" in the relationship between the European Union and India, a relationship that "sometimes was quite bumpy, sometimes it went well, sometimes it was a bit more quiet", said Timmermans, executive vice president of the European Commission.

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Chandigarh administrator opens north India's largest floating solar project

The 2000kWp floating solar power plant at Water Works in Sector 39 has been commissioned at a cost of Rs 11.70 crore. He also opened the 500kWp floating solar power plant installed over the Dhanas lake here. It was constructed at a cost of Rs 3.34 crore.

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India's crude imports hit 5-month high in December on cheap Russian supply

Crude imports for the month were up 2.7 per cent from November at 19.52 million tonnes, according to data from the Petroleum Planning and Analysis Cell. On a yearly basis, imports were down 0.7 per cent in December.

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Indi Grid to buy Khargone Transmission for ₹1,497cr

"IndiGrid signed a share purchase agreement on January 21, 2023, for the acquisition of a 100% shareholding and economic interest, in one or more tranches, in Khargone Transmission from Sterlite Power Transmission (one of the sponsors of IndiGrid)," the company said in a statement.

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Adani Group to spin off hydrogen businesses by 2028: CFO

AEL currently houses new businesses such as hydrogen, where the group plans to invest USD 50 billion over the next 10 years across the value chain, flourishing airport operations, mining, data centre and roads and logistics.

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Mahanadi Coalfields to set up 1,600 MW power plant in Odisha

Sources informed that the 1,600 megawatt capacity coal-fired power project would come up in Odisha's Sundargarh district as a wholly owned subsidiary of MCL. MCL also plans to enter into the aluminium business, they further said.

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Oil Minister Hardeep Singh Puri hopes for cut in petrol prices no sooner oil cos recoup past losses

At one time, profit on petrol was Rs 10 per litre but subsequent firming of oil prices have trimmed it down to halve. Diesel losses have widened to Rs 13 a litre from Rs 10-11 earlier this month, industry sources said.

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Goa: Fresh bids invited for solar power plants at district hospitals

During the pre-bid meeting, the companies interested in bidding proposed a change in submitting a single performance bank guarantee of 10% of the project cost for a five-year period and some relaxations in other clauses.

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Bidders set up close fight for SKS Power; financial creditors could make a full recovery

"All bidders that had submitted bids early this month are very close, which means a recovery of over 75% is almost guaranteed. To break the deadlock, banks will push the bidders to offer more particularly with more cash upfront, which is likely to take recovery closer to 100%," said a person familiar with the process.

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Hindustan Petroleum's dependence on refiners to reduce by 35% post expansion of Visakhapatnam refinery

The capacity of Visakhapatnam refinery will rise to 15 million tonnes a year from the current 8.5 million tonnes a year by June, HPCL Chairman Pushp Kumar Joshi said. The refinery will likely stabilize and start operating at full capacity by December, he added.

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India's HPCL to operate Vizag refinery at expanded capacity from end-June

Joshi said HPCL's residue upgradation project at Vizag refinery will improve its distillate yield and will be ready by the end of this year or in January 2024. As a way to expand its portfolio, HPCL is setting up an oil-to-chemical plant linked to its Vizag refinery and building a 5 mtpa gas import terminal at Chhara in the Western state of Gujarat.

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Tripura forms separate entity for intra-state electricity transmission

The official was part of a delegation which visited New Delhi recently to sign an agreement with NTPC for the development of renewable energy projects in the northeastern state.

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Renewable energy transition to gain traction with solar PLI, Green Hydrogen: JSW Energy

India’s power demand increased by 6.4 per cent year-on-year in the December 2022 quarter, on the back of broad-based demand increase across the country.

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Raise Himachal govt share to 12 per cent in solar power projects, SJVN told

A committee would be constituted under the chairmanship of the chief secretary to monitor the execution of these power projects for their timely completion.

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Renewable energy transition to gain traction with solar PLI, Green Hydrogen: JSW Energy

India’s power demand increased by 6.4 per cent year-on-year in the December 2022 quarter, on the back of broad-based demand increase across the country.

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Himachal targets to be first green energy state by 2025: CM Sukhu

he directed all the concerned departments including HPSEBL, HIMURJA, Himachal Pradesh Power Corporation Limited (HPPCL) and the Department of Energy to initiate action in this direction and make policy changes, wherever required.

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ABB sells its power conversion division for $505 million

The sale is the last part of ABB's measures to trim its portfolio of companies which saw it sell its power transmission unit Dodge and spin off its turbocharging business Accelleron to shareholders.

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Opinion: Model no more? Turkey's energy transition reversed in 2022: Maguire

Between 2018 and 2021, the country managed to increase overall electricity generation by 9 per cent while simultaneously cutting coal generation more than 8 per cent, thanks to an aggressive 21 per cent rise in clean power deployment from wind, solar and hydro installations, data from think tank Ember shows.

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India to encourage greater investments in Sri Lanka's economy: EAM Jaishankar

Sri Lanka has enormous renewable energy potential that can become a sustainable source of revenue, Jaishankar said, adding that Trincomalee has the capability to emerge as an energy hub.

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India aims to become key semiconductor supplier for world

​​Speaking at a session on 'Learning from semiconductor supply shocks' at the World Economic Forum Annual Meeting 2023 here, the minister said there is a very large market that requires semiconductor and India has a huge potential in terms of infrastructure, talent pool and technology.

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Siemens Energy cuts profit outlook as Siemens Gamesa woes continue

The German supplier of equipment to the power sector, which was spun off from Siemens AG in 2020, now expects a profit margin before special items of 1 per cent-3 per cent in the year through September, down from the 2 per cent-4 per cent previously forecast.

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Decentralized solar for reliable electricity in healthcare and education sectors

The status of reliability of electricity supply, particularly in rural and remote areas remains work in progress.

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Energy giant ExxonMobil keen on India, seeks legal shield

"What we are looking to do in the Indian upstream is to move from 'very interested' to 'committed'," Monte Dobson, lead country manager-South Asia at ExxonMobil, told ET in an interview. "We expect 2023 to be a pivotal year for our India plans."

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China sets another solar record despite supply chain disruptions

The price of polysilicon, a key solar material, soared to the highest in a decade last year due to the supply shortfall, driving up panel prices and suppressing demand.

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UK's Crown Estate to lease seabed sites for six offshore wind projects

The UK is one of the world's largest offshore wind markets, with more than 10 gigawatts (GW) of installed capacity across 38 sites, which it plans to boost to up to 50 GW by the end of the decade.

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Chief secretaries discuss 5 key China challenges

The problem of climate change coupled with India's high dependence on imported crude and gas - 80 per cent and 50 per cent respectively - and the difficulty of transitioning to renewables amid import dependence were highlighted.

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Nick Walker is new CEO of Vedanta Cairn Oil and Gas

Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5.

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Vedanta Cairn Oil and Gas appoints Nick Walker as CEO

Before this appointment, Walker was President and Chief Executive Officer at Lundin Energy.

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Adani files for Rs 20,000 cr FPO

Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway. Another Rs 4,165 crore will go towards repayment of debt taken by its airports, road and solar project subsidiaries.

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Adani files for Rs 20,000 cr FPO

Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway. Another Rs 4,165 crore will go towards repayment of debt taken by its airports, road and solar project subsidiaries.

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Why the draft Delhi Solar Policy 2022 is an ambitious and innovative endeavour

Bridging the gap between policy and execution will determine the success of the Draft Delhi Solar Policy 2022.

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Norway wealth fund invests further in renewable energy

The latest deal will see the fund -- which has more than 1.2 trillion euros ($1.3 trillion) in assets -- pay the Spanish energy group 600 million euros for 49 percent of a portfolio comprising seven solar plant projects and five onshore wind projects.

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In sinking Joshimath, chorus of 'NTPC go back' grows louder

From the numerous small and big shops in the main markets to the residential properties, vehicles, and billboards, posters with the slogan "NTPC go back" have come up around the town in Uttarakhand's Chamoli district over the past few days.

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Future of trade is digital, green and inclusive: WTO chief

The World Trade Organization (WTO) and others have also been warning that deglobalisation would negatively impact the world, especially emerging economies.

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Guyana expects proposal from India for long-term crude purchases

Guyana's government is entitled to a share of crude produced off the nation's coast by a consortium led by Exxon Mobil Corp . In 2022, Ali's government received a total of 13 cargoes of crude, and it expects to receive and export 17 cargoes this year, the finance minister said earlier this week.

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India’s renewable energy sector ripe for global, domestic investments: IEEFA

Upcoming Union Budget offers the Indian government an opportunity to introduce reforms and streamline policies to attract investors

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On the cards: 11 GW hydel project in Arunachal Pradesh

"The purpose of the project, apart from generating electricity, is also to control floods," one of the persons cited earlier said, adding that state-owned NHPC Ltd has submitted a pre-feasibility report for the Upper Siang Multipurpose Storage project.

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Davos 2023: India's ReNew Power exploring Egypt green hydrogen project

ReNew Power is now studying green hydrogen opportunities, specifically in Egypt, having signed a framework agreement during the COP27 climate conference last year, Sumant Sinha told Reuters in Davos at the World Economic Forum.

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Corporate funding for Energy Storage companies grew 55 per cent to $26.4 billion in 2022

The top VC-funded companies in 2022 included Eolian ($925 million), Form Energy ($450 million), Group14 Technologies ($400 million), Ascend Elements ($300 million), and Hydrostor ($250 million).

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Access to electricity among poorest households rises to 86%

The NFHS-5 report released in March last year showed 97% of India's households have electricity - 95% of rural and 99% of urban. Bihar, Jharkhand, Odisha, Rajasthan, MP, Arunachal Pradesh, UP and Assam were among the major states that showed major improvement. Overall, the electrification of households in Bihar rose to 95.6% over this period. UP's overall household electrification rose to 89.8% from 70.9% in the same period.

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Power consumption may grow 10 pc this fiscal: Report

India's peak power demand touched a record high of 216 GW in April 2022, up 6 per cent on-year, as several regions in the North reeled under a severe heatwave. The surge in demand was also contributed by industrial and manufacturing activities. Generation in the third quarter of FY2023 was affected by seasonally lower output from renewable sources, leaving costly thermal power to service incremental demand.

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UAE pledges to invest $30 billion in South Korea -Yoon's office

Details of the investment plan were not immediately known but Yoon's press secretary, Kim Eun-hye, said in a statement the investment will be directed at nuclear power, defence, hydrogen and solar energy industries, among others.

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India to showcase northeastern states during its G20 presidency

More than 200 G20-related meetings will take place across the country and some of it will also be held in northeast India. Meetings will also take place in Arunachal Pradesh as well, one of the northeastern states.

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ReNew setting up solar cell, module units at Rs 2,000 cr investment in Raj, Guj; explores opportunities in UP

"Rs 2,000 crore is already being spent by ReNew," the chairman said in reply to a question if his company is exploring investment opportunities in the space of solar cell and module manufacturing.

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India's Russian oil imports top 1 mn barrels a day in Dec

This was higher than 909,403 bpd crude oil India imported from Russia in November and 935,556 bpd in October 2022. The previous record for most crude oil imports from Russia was in June 2022 when India bought 942,694 bpd, according to Vortexa.

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ReNew setting up solar cell, module units at Rs 2,000 cr investment in Raj, Guj; explores opportunities in UP

"Rs 2,000 crore is already being spent by ReNew," the chairman said in reply to a question if his company is exploring investment opportunities in the space of solar cell and module manufacturing.

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India, UAE close to deal on renewable electricity grid link: RK Singh

Raj Kumar Singh, who is visiting the Gulf Arab oil producer for the International Renewable Energy Agency's (IRENA) assembly in Abu Dhabi, of which India is currently president, told Reuters the agreement was awaiting final approvals. He did not elaborate on a time frame.

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Received up to $15-mn commitment per project for green hydrogen space: Vish Iyer, Global CCO, Jakson Green

We aim to break ground on our alkaline electrolyser manufacturing set-up this year

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India's Russian oil imports top 1 mn barrels a day in December

Russia, which in October 2022 for the first time surpassed traditional sellers Iraq and Saudi Arabia to take the No.1 spot, now makes up for 25 per cent of all oil imported by India. The imports peaked as a price cap was agreed upon by the EU on Russian seaborne oil. Russian oil is available at much lower than USD 60 per barrel cap agreed, industry sources said.

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Farmers will be able to install solar plants to increase income: UPPCL

In accordance with this plan, farmers can install solar panels on their barren lands to generate electricity from solar energy and make money each month by selling it to various government and non-government power firms.

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Govt caps trading margin on resale of gas from deep sea fields

Gas from deepwater or high-pressure, high-temperature fields can be sold at market price subject to a ceiling set by the government every six months. Oil and Natural Gas Corp and the consortium or Reliance Industries and BP operate such fields these days.

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India to see $58 bn investment in E&P; Chevron, Exxon, Total keen to invest: Minister Hardeep Singh Puri

India, the world's third biggest oil-consuming and importing nation, is looking to raise domestic output to help cut down reliance on costly imports. India imports 85 per cent of its crude oil, which is converted into petrol and diesel, and roughly half of its natural gas that is converted to CNG and used in industries.

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SJVN to set up 90 MW floating solar project at Rs 650 crore

Chairman and Managing Director Nand Lal Sharma performed bhumi pujan at the project site for the commencement of engineering, procurement and construction (EPC) work of the project at Omkareshwar Reservoir.

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Hardeep Singh Puri wants OMCs compensated for selling fuel below market rates

Indian Oil, Hindustan Petroleum and Bharat Petroleum, the three state-run OMCs, are seeking compensation for the losses they have incurred by keeping domestic retail prices frozen while international rates rocketed in 2022.

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EDPR brings Iberia's first wind-solar power plant on-stream

The Mina de Orgueirel plant, about 300 km (186 miles) northeast of Portugal's capital Lisbon, combines 17,000 new photovoltaic panels covering an area of roughly six soccer pitches with wind turbines that EDPR already had on the same plot.

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Petroleum & natural gas sector to drive growth of green hydrogen in India: Hardeep Puri

The Minister of Petroleum and Natural Gas also said that oil marketing companies (OMCs) have been directed to prepare a plan in the field of green hydrogen, which he said will be submitted to the Prime Minister's Office very soon.

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India to annually invite bids for 8 GW wind power projects to 2030-govt order

The bidding model has also been modified from electronic reverse bidding where the participants could reduce their offer price to bag the contracts at the lowest bid. The industry had complained that led to an artificial lowering of prices. Bidders will now not be required to revise their quoted tariff for the sale of power - a key parameter for the award of the contract.

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Zimbabwe looks to public to provide solar power amid energy crisis

Zimbabwe's net metering system, launched in 2020, allows people who produce private renewable energy to transfer their excess generation to the national grid in return for electricity credits they can use when they do not have sufficient renewable supply.

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Korea's Hanwha Qcells to invest $2.5 bln in US solar supply chain

The announcement by the solar division of conglomerate Hanwha Corp is one of the biggest corporate manufacturing commitments since the passage of USPresident Joe Biden's Inflation Reduction Act (IRA), which includes over $300 billion in subsidies to tackle climate change.

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Three floating solar power plants to be set up in MP with investment of Rs 7,500 crore

The information was given at a session focusing on renewable energy on the first day of the "Invest Madhya Pradesh-Global Investors Summit" organized by the state government here. The session was chaired by Sanjay Dubey, Principal Secretary, Energy and Renewable Energy Department, Madhya Pradesh.

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Adani Group plans to invest Rs 60,000 crore in MP in various sectors

The group will run skill development centres as per its requirement to train the youths of the state and it also has plans to establish a hospital in Madhya Pradesh.

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Ending ties with Russia's Rosneft, Trafigura sells Nayara stake to Hara Capital Sarl

The deal size was not disclosed in the official statement. People involved in the transaction said Hara, a wholly owned subsidiary of Italian energy investment company, Mareterra Group Holding, paid $165.9 million or the book value of the stake, based on disclosures in Trafigura's last annual report.

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ONGC to rely more on advanced tech, says Sushma Rawat

ONGC is also planning to streamline processes to quickly access technologies for exploration. Rajesh Srivastava, who retired last month as ONGC's exploration chief, had helped forge key ties with foreign companies with access to advanced technologies for joint exploration, especially in difficult terrains.

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Goldman Sachs raises $1.6 bln private capital for climate fund

The final close of GSAM's Horizon Environment & Climate Solutions I comes as investors increasingly turn their attention to companies that can help in the world's fight against global warming.

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Nayara Energy says on track for setting up solar power plants

"The company is progressing well on its plans to set up a 10 MW solar power plant at its Vadinar refinery in Gujarat, which will help Nayara mitigate approximately 20,000 tonnes of CO2 emissions every year," it said in a statement without giving timelines.

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Key renewable energy trends for 2023 and expectation from the Union Budget

In order to truly compete with regions like China and the Middle East on RE power costs, which are aided by access to low-cost capital and an extremely favourable Tax and Duty regime, the GoI must provide some immediate relief to RE developers.

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Govt may fund unrealised input cost of gas-based central power PSUs

The proposal is likely to be discussed this week by concerned stakeholders, another official said, requesting anonymity. Much of India's gas-based power generation capacity, which stands at 24,800 MW, is idle because high gas prices have made electricity generated at gas plants generally more expensive than coal, hydro and renewable-based

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China has set it sights on cornering another green energy market: Hydrogen

As the world sprints to decarbonise, the next round of competition revolves around a device called an electrolyser. Plug these into clean electricity such as solar power, and it's possible to extract hydrogen from water without producing any planet-warming emissions. That's a crucial step in creating a green fuel capable of decarbonising such industries as steel, cement or shipping.

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Lenders pick PFC-REC offer for Lanco Amarkantak Power

The PFC-REC team received 95% of lender votes by value of debt, while Adani Power secured 17%, people cited above told ET. The voting percentages need not total up to 100 as lenders could vote for one offer, an alternative, or all of the options on the table. Reliance Industries, the third bidder in the fray, did not receive any votes, said the people cited above.

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Bids for commercial auction of coal blocks can be submitted till Friday

"In accordance with the timelines, bidders can submit their bids online on the electronic platform by 12:00 hours up to January 13, 2023 and physically by 16:00 hours on the same day. The bids shall be opened on Monday, January 16, 2023 at 10:00 hours in the presence of representatives of the bidders," the ministry said in a release.

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TheGreenBillions in pact with Pune Municipal Corp for Green Hydrogen plant

The project aims to extract clean hydrogen from municipal solid waste. The company is also in discussions with other state municipalities across India to implement and set up similar plants in the future.

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Greenko Group to set up Pumped Storage Project in MP's Neemuch

The Greenko Group, one of India's leading energy transition companies, will invest Rs 10,000 crores in a Pumped Storage Project (PSP) near Gandhi Sagar in Madhya Pradesh's Neemuch district.

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TGBL to extract Green Hydrogen from biomass and waste in Pune plant

The Refuse Derived Fuel (RDF) from the waste would be utilised to generate hydrogen using Plasma Gasification technology developed while closely working with Bhabha Atomic Research Institute (BARC) and Indian Institute of Science, Bengaluru.

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ESG Outlook 2023: Here are four ESG trends that will shape credit quality

A growing scrutiny of corporate decarbonization plans amid heightened execution risks for green investments, which will heighten policy and market risks for companies highly exposed to carbon transition risks.

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ONGC part-owned Sakhalin-1 output to be near normal by March

Production at Russia's Sakhalin-1 block, in which ONGC has a 20% stake, will reach near normal by March after a halt for months last year following the force majeure by operator ExxonMobil, an official said.

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Bombay HC grants bail to Chanda Kochhar and her husband Deepak Kochhar

The couple was arrested by the Central Bureau of Investigation (CBI) on December 23, 2022 in connection with the Videocon-ICICI bank loan case. They are presently in judicial custody.

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Budget 2023: Govt should include MSMEs under PLI to boost domestic solar capacity, says industry

There is still a big demand-supply mismatch due to limited operational capacity and solar exports from India, added industry executives

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Rajasthan: Industries to pay less consent fee for captive solar plants

For establishing a new industrial unit, the owners used to obtain consent from RSPCB under the two Acts and had to pay a consent fee, which was calculated on the overall capital investment of the units, including the cost of the solar plant.

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JSPL to invest Rs 1,500 crore to make Monnet Power project operational

The 1,050 megawatts (MW) under-construction coal-based power project is located near JSPL's steel plant in Angul, Odisha.

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Local carbon credit trade likely to kick off in July-September: Power Secretary

"For carbon credit market, we have set a very tough target for ourselves. A lot of groundwork has to be done," he said in an interview. The Energy Conservation (Amendment) Bill, 2022, which encourages the use of green hydrogen and renewable energy, and promotion of carbon trading was cleared by Parliament in December.

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Indian Oil chairman to also be managing director

Indian Oil Corporation, the nation's largest oil refiner and retailer of fuels like petrol and diesel, has always been headed by a chairman, who has also discharged the role of a managing director or CEO. But this is likely to change soon with the Oil Ministry agreeing to redesignate the top job as chairman and managing director, sources aware of the matter said.

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Coal-based power generation rises 15 pc in Dec: Official data

According to the monthly statistics (provisional) of December, 2022 of the coal ministry, both coal-based power generation and overall power generation has registered a year-on-year increase in December 2022.

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Suzlon Energy gets shareholders' nod for top brass appointments

A BSE filing showed that the three resolutions to appoint Vinod Tanti as Managing Director, Girish Tanti as Executive Director and Pranav Tanti as Director are passed with the requisite majority through postal ballot.

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International fusion energy project faces delays, says chief Pietro Barabaschi

The International Thermonuclear Experimental Reactor (ITER) project seeks to prove the feasibility of fusion as a large-scale and carbon-free source of energy.

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SC stays HC order awarding two-month jail term to NTPC chairman in contempt case

"We are staying the high court order," the bench said. Earlier during the day, the top court had agreed to hear the appeal of Gurdeep Singh, the NTPC Chairman and Managing Director.

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Govt to soon bring norms for promoting green hydrogen: R K Singh

Singh also highlighted the government's goal of making sectors such as steel, shipping, refining, cement, fertiliser, mobility (long-haul vehicles) and refining (petroleum) based on green hydrogen and ammonia.

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Husk Power secures $750,000 debt from DEG to expand solar microgrids in India, Nigeria

The 5-year loan follows Husk closing debt totalling $10.3 million from EDFI-ElectriFI and IREDA in 2022 to build over 200 microgrids in India

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Thailand's PTT eyes ReNew Power's solar assets, again

ReNew Power is the Indian arm of Nasdaq-listed ReNew Energy Global Plc., which was founded by Sumant Sinha in 2011. ReNew's solar and wind portfolio totals 13.4 GW, of which 7.7 GW has been commissioned. Its solar asset base is 4.10 GW of commissioned and committed capacity.

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Husk Power secures $750,000 debt from DEG to expand solar microgrids in India, Nigeria

The 5-year loan follows Husk closing debt totalling $10.3 million from EDFI-ElectriFI and IREDA in 2022 to build over 200 microgrids in India

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Huge subsidies by some developed nations on green hydrogen distorting trade: RK Singh

Speaking at a press conference, Singh said that the big subsidies is a challenge for the industry in India as it aims to emerge as the most cost competitive source of green hydrogen in the world.

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Outlook for renewable energy industry in 2023: Opportunities and Challenges

In 2023, the renewable energy sector is expected to maintain growth and achieve desired figures, and cash flow, technology upgradation and government’s support with futuristic measures will be the major factors driving growth.

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Hero Motors readies for Rs 1,500 crore EV push

Hero Motors, the auto components arms of Hero Motors Company Group, has raised growth equity capital from private equity firm GEF Capital Partners and its LPs for 10% stake to expand its EV venture, as part of which it will set up new facilities in India and Thailand.

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GM crops to FTAs and renewable energy expansion: There's a catch

As a growing India, acutely aware of the need for energy security and self-sufficiency, draws new lines on environmental issues, each of these have turned as deeply economic as political. Holding the line is already testing the country's resolve at home and on the global stage.

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NTPC Green Energy, HPCL partner to develop renewable energy based power projects

Under the agreement, NTPC said its renewable energy arm -- NGEL -- will also supply 400 MW round-the-clock to HPCL.

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Top supplier Russia ships record 1.17 million barrels/day of crude in December

India's overall crude imports rose 7% month-on-month to 4.6 million bpd. Imports from Iraq and UAE fell marginally, while those from Saudi Arabia rose marginally. US exports to India fell by a fifth.

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Centre sticks to demand for bigger profit share from Vedanta's Rajasthan block

The Anil Agarwal-led Vedanta had moved the Supreme Court against the Delhi High Court's March order that permitted the government to seek a higher share in the profit upon renewal of the contract. The HC had held that there cannot be an extension of the PSC unconditionally on the same terms and conditions which were prevailing 25 years ago on May 15, 1995, the effective date of the PSC.

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Ukraine to speed up moves to clean, green energy after Russian attacks: PM

Ukraine, which was invaded by Russian forces last February, faces an energy shortage and blackouts following Russian missile and drone strikes which Ukrainian officials say have damaged about 40 per cent of the national energy infrastructure.

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Budget FY24: EV industry suggests uniformity in GST

​SMEV has said the government had shown its commitment to promoting and prioritising electric mobility with its initiatives, such as the FAME scheme, which emphasizes demand creation.

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Value of natural gas imports rose 43 per cent between Apr 2021-Sep 2022

In fact, the import bill of petroleum products has increased by 39.6 per cent in the first half of 2022-23 in comparison to 2016-17, primarily due to increase in quantity due to demand growth, price increase in the international market, and exchange rate changes, sources aware of the development said.

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President Murmu lays foundation for 1,000 Mw solar power project in Rajasthan

The project is being developed on 5,000 acres of land near village Banderwala in Bikaner district, one of the highest solar yield areas of the country.

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Natural gas prices in Europe fall to pre-invasion levels

On Tuesday, the wholesale price for European natural gas, measured by the benchmark Dutch TTF futures contract for February, was selling for around 76 euros (about $80) a megawatt-hour. On the eve of Russia’s push into its neighbor in February 2022, the contract sold for about 88 euros.

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Indian banks go big on financing renewable energy projects

The outstanding bank loans to the sector have grown at over 100% year-on-year, indicating momentum in underwriting renewable energy loans.

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NTPC power generation rises nearly 12% to 295 billion units in Apr-Dec 2022

On a standalone basis, NTPC generated 254.6 BU during April-December 2022, a 16.1 per cent year-on-year rise.

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President Murmu to launch 1,000 Mw solar power project in Rajasthan

She will inaugurate the Transmission System for Solar Energy Zones in Rajasthan and lay the foundation stone for the 1,000 MW Bikaner Solar Power Project.

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RIL, Adani Group, NTPC among 7 bidders for SKS Power

The Chhattisgarh-based power company owes Rs 1,890 crore to two lenders, Bank of Baroda and State Bank of India.

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Centre raises windfall tax on crude, diesel, aviation fuel; new rates effective from Jan 3

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CIL's coal supply to power sector up 11 pc at 433 MT

"To outdo the annual output target of 700 MT, CIL has to produce 221 MT in Q4 FY23 against 209 MT for comparable quarter last fiscal. Our production pace is already up and expected to rise higher. Another point in our favour is large quantities of over burden removal. We feel positive about scaling over the output target," the company said in a statement.

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OPINION: Decarbonization of the energy value chain will gain momentum in 2023

2023 will witness energy transition and decarbonization efforts gaining significant momentum.

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Mumbai: E-buses to earn BEST Rs 45 crore in carbon credits per year

One carbon credit certifies that one metric tonne of carbon dioxide has been removed from the atmosphere. Carbon credits are created by offsetting carbon dioxide emissions with conservation – solar, wind, and waste conversion to energy and other technologies. The credits are then traded on both voluntary and compliance carbon markets.

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Petrol, diesel sales surge in December as economy picks up momentum

Petrol sales soared 8.6 per cent to 2.76 million tonnes in December, as compared to 2.54 million tonnes of consumption in the same month last year. Sales were 13.3 per cent higher than in COVID-marred December 2020 and 23.2 per cent more than in pre-pandemic December 2019.

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Russia's oil export ban may bolster India crude imports

The West, which insists on a strict price cap on supplies from Moscow, has already imposed a ban on the bulk of Russian crude exports. Some residual volumes still being imported into Europe via pipelines could now be affected by the latest Kremlin move.

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NARCL plans improved Rs 1,200-cr offer for Videocon Oil and Ventures

Lenders rejected NARCL's ₹860-crore offer in mid-November because it was very low. At a meeting in December between the lenders and NARCL, lead bank State Bank of India had asked NARCL to make an improved offer. NARCL did not respond to ET's queries.

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

Oil marketing companies hike commercial gas cylinder price by Rs 25

from Energy-Industry-Economic Times https://ift.tt/zu2oN6h