Vedanta says confident of meeting debt repayment liabilities

Vedanta Resources said it has pre-paid all of its debt that was due for repayment till March 2023, deleveraging by USD 2 billion in the past 11 months. Further, it is confident of meeting its liquidity requirements for the quarter ending June 2023.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/I9qgCQ4

India expects FTA with EU to be 'game-changer': EAM Jaishankar

In an address at an event of the Confederation of Indian Industry (CII), Jaishankar also said that Europe and India can strengthen each other's strategic autonomy by reducing dependencies, cooperating on critical technologies and ensuring supply-chain restructuring.

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Delhi: Domestic LPG price at Rs 1,103, up by Rs 50 per cylinder

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

Tata Power, 3 others in fray for PTC India stake

The Adani Group, which was also widely expected to participate in the bidding process, has not submitted an EoI, the people said. Five public sector undertakings, including four promoter firms of PTC India, are planning to sell their stake in the power trading company that is hit by a controversy over alleged governance issues at its financial services subsidiary.

from Energy-Industry-Economic Times https://ift.tt/YNwJ9gb

Germany seeks to link all wind parks in North Sea

Germany in particular needs to boost offshore wind powered electricity generation to meet its ambitious goal of shutting down all coal powered plants and generating 80 per cent of its electricity from renewable sources by 2030.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/lxnPGw5

JPMorgan investment arm purges its ESG funds of Adani stocks

The move, captured by an analysis of data compiled by Bloomberg, comes as a number of major investment firms such as BlackRock Inc. and the fund management unit of Deutsche Bank AG, DWS Group, continue to sit on Adani stakes in ESG funds that track indexes offered by MSCI Inc.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/CJNrZh6

JPMorgan investment arm purges its ESG funds of Adani stocks

The move, captured by an analysis of data compiled by Bloomberg, comes as a number of major investment firms such as BlackRock Inc. and the fund management unit of Deutsche Bank AG, DWS Group, continue to sit on Adani stakes in ESG funds that track indexes offered by MSCI Inc.

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

IFCI & EY to help streamline ₹10,000-crore FAME scheme

The move comes amid allegations that some electric two-wheeler makers had flouted rules while availing of subsidy benefits under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles - Phase II (FAME-II) scheme.

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Indian, Danish firms can collaborate in big way: Denmark's energy minister Lars Aagaard

Addressing a round table focussed on energy, the minister mentioned about India's ambitious plan to have 500 GW of renewable energy by 2030 and net zero by 2070.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://energy.economictimes.indiatimes.com/news/renewable/98289053?utm_source=RSS&utm_medium=ETRSS

After Ethanol, policy support for Biogas

India achieved an ethanol blending average of 10% in 2021-22 from 1.5% in 2013-14, riding a raft of policy interventions that encouraged investments in new supplies and ensured full offtake. The ethanol story has emboldened the government to plan a similar policy push for a wider adoption of CBG.

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Karnataka, Gujarat make most progress in clean energy transition

India's revised Nationally Determined Contribution (NDC) targets have put the country on the right path for transitioning its electricity sector. To achieve those targets, the Centre now needs the cooperation of the states to move faster in their clean electricity transitions.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/s5VkUnG

OPINION: Is hydrogen the next state-of-the-art ancillary fuel in the server legion?

It is important to identify and develop small-scale applications of hydrogen, example, for diesel abatement in commercial and service sectors

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/ei5zSWP

Shell plans to more than treble retail network to 1,200 stations by 2030: Nitin Prasad

"There are structural disadvantages for a company like Shell, which is an independent private market player. Pricing in all things is not just a function of your cost, recoveries and margins, but of what's the quality of the product and services that you offer."

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Water-stressed Haryana initiates climate-smart agriculture in 1,669 villages

To meet the irrigation requirements and to reduce input cost, the government is implementing a scheme for installation of solar pumps of three to 10 HP capacity with 75 per cent subsidy, including 30 per cent central financial assistance under PM-KUSUM.

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IOC to set up green hydrogen plants at all refineries; Lines up Rs 2 lakh cr for net zero

Indian Oil Corporation (IOC) is remodelling business with an increased focus on petrochemicals to hedge volatility in the fuel business, while at the same time turning petrol pumps into energy outlets.

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Power Ministry urges states to fill up vacancies in regulatory commissions fast

Concerned over several state electricity regulatory commissions (SERCs) functioning without Chairpersons and adequate strength of members, with posts lying vacant for long periods, the Union Power Ministry has asked state governments to fill up all vacancies in a time-bound manner.

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Indian Energy Exchange to launch High Price Day Ahead Market segment next month

The relaxation in norms by the CERC will provide relief to three categories of power generating companies (gencos) -- those running their plants on expensive natural gas (RLNG), imported coal and BESS (Battery Energy Storage System).

from Energy-Industry-Economic Times https://ift.tt/kxn5RCL

Assam to come up with Northeast India's first-ever compressed biogas plant

Being set-up by entrepreneurs Pankaj Gogoi and Rakesh Doley under the banner of Redlemon Technologies, the plant, proposed to be operational from November 2023, will have a production capacity of 5 tonne-per-day of compressed biogas that would be produced from raw materials such as cattle-dung, municipal solid wastes, etc.

from Energy-Industry-Economic Times https://ift.tt/px3y4GZ

IREDA to set up office in Gujarat's GIFT City to finance renewable energy projects

The office at GIFT City, Gandhinagar, will be classified as an overseas office, allowing the IREDA to avoid foreign exchange hedging cost, it stated.

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Rising heat in India raises alarm on another energy crunch

Peak demand for electricity touched 211 gigawatts in January, close to an all-time high last summer when heavy industry roared back from pandemic curbs and the population contended with sweltering conditions that saw a 122-year-old heat record breached.

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Handpicked by Tata Sons chairman Chandra, Thomas Flack to helm Tata's battery company

Tata Sons is pumping in more than ₹4,000 crore into the battery business as Tata Motors seeks to establish firmly its credentials as the biggest EV player in the country. The battery business, currently code-named Apollo, has been identified as one of the top future growth engines by Tata Sons.

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Adani to supply power to Bangladesh in reduced price: Report

“The Adani will import the coal for its plants at the same price the Bangladeshi coal-run plants do for themselves,” the mass-circulation Prothom Alo newspaper reported quoting an Adani official. It said the Indian company agreed to revise its procurement price for coal to keep the per unit power price almost equal to those of Bangladeshi coal-fired plants like the Rampal and Payra, the two joint-venture installations with India and China.

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Sri Lanka reviews progress of Adani group wind power projects, says minister

Adani Green Energy was issued provisional approval for two wind projects of 286 MW in Mannar and 234 MW in Pooneryn for an investment of over USD 500 million.

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Power ministry seeks enquiry against DERC for not following Electricity Act provisions, statutory orders

The ministry in a reference to the chairperson of the Appellate Tribunal for Electricity (APTEL) on February 20 has also sought to build a case for the removal of a member of the Delhi Electricity Regulatory Commission (DERC) on the ground of "proved misbehaviour" under Section 90 (2)(f) of the Act, they said.

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ONGC to invest USD 2 billion in Mumbai offshore to raise oil, gas output

"We have released a record 103 locations for drilling of wells on the Bassein and Satellite (B&S) assets over the next 2-3 years," ONGC Director (Offshore) Pankaj Kumar said.

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India expects fuel demand to grow 4.7% in the next fiscal year

​Domestic demand for gasoline, used mainly in passenger vehicles, is expected to rise by 7.1% to 37.8 million tonnes, while gasoil consumption was seen growing by about 4.2% to 90.6 million tonnes, the data showed. Indian state refiners' gasoline and gasoil sales rose in the first two weeks of February from the same period last month, preliminary data showed, boosted by a pick up in transport of goods and mobility.

from Energy-Industry-Economic Times https://ift.tt/9jQave1

US proposes first offshore wind auction in Gulf of Mexico

The planned sale is part of the effort by President Joe Biden's administration to install wind turbines along every US coastline as it seeks to deploy 30 gigawatts of offshore wind energy by the end of the decade.

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Macquarie puts India clean energy company on the block

Blueleaf Energy has a development pipeline of solar, wind and storage projects in excess of 7GW globally. Macquarie's GIG has 85+ GW portfolio under development across 25 markets globally.

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

Sri Lanka investment board approves $442 million Adani Green wind power plants

"The two wind power plants of 350 MW are scheduled to be commissioned in two years and accordingly, they will be added to the national grid by 2025," the statement added.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/lBb6zIm

Macquarie puts India clean energy company on the block

Blueleaf Energy has a development pipeline of solar, wind and storage projects in excess of 7GW globally. Macquarie's GIG has 85+ GW portfolio under development across 25 markets globally.

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

Jio-BP to sell bio-CNG, compressed biogas

"Jio-bp is actively working on setting up CBG/bio-CNG retailing at its collocated fuel retail outlets and our first outlet is likely to come up soon," Jio-bp told ET in an emailed response.

from Energy-Industry-Economic Times https://ift.tt/vF6YeCU

Solar industry facing whiplash from volatile equipment prices

The volatility is rippling across the solar supply chain and pressuring manufacturing giants even as they plan expansions to provide the world with more clean energy needed to stave off the impacts of climate change.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/FnQA3X0

Adani staff manipulated information, removed warnings on website, claims Wikipedia

This followed US short-seller Hindenburg Research accusing the group of accounting fraud, stock price manipulation and money laundering, allegations that the conglomerate has repeatedly denied, and threatened legal action.

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India needs to invest INR 33,750 cr on lithium-ion battery production plants: CEEW

The Council on Energy, Environment and Water (CEEW) study ‘How can India indigenise lithium-ion battery manufacturing?’ calculates the material and financial requirements and offers a blueprint for the domestic strategy as India’s demand is expected to increase significantly. The analysis is based on the minimum manufacturing plant capacity allocated under the PLI scheme – 5 GWh.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/2FtsZ03

Talks on to allow older solar units exemption from duty

The imposition of a 40 per cent basic customs duty (BCD) duty on solar modules and 25 per cent on solar cells came into effect in April 2022, but the announcement to impose the duties was made in March 2021. The duty is levied to protect and encourage domestic manufacturing.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/1upC82T

HPCL now paying in rouble, dirham for Russian crude oil

HPCL, which has used 2 million tonnes of Russian crude of the total 17 million tonnes processed this fiscal year, is shifting to the currencies of the UAE and Russia following foreign banks' refusal to process payments in dollars, said one of the persons cited above.

from Energy-Industry-Economic Times https://ift.tt/6Rty7Pn

PTC Fin gets another notice over alleged governance lapse

The Ministry of Corporate Affairs (MCA) has asked PTC India Financial Services (PFS) why action should not be taken against it for alleged non-compliance with rules on the appointment of forensic auditors in a loan default case and not sharing that audit report with the erstwhile independent directors for more than two years.

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

NTPC Green Energy plans to raise Rs 9,000-crore loan

This is to repay outstanding liability of about Rs 8,200 crore towards NTPC by 31 March 2023 along with applicable interest cost

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ACME, Japan’s IHI sign MoU to explore green hydrogen and green ammonia businesses

Under the MoU, a joint study and evaluation of potential projects to collaborate opportunities across the green hydrogen and ammonia value chain will be carried out

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/8T1nWsM

India perfectly situated to join Europe's green hydrogen supply chain: Stefan Kaufmann

Though Europe has a goal to produce around 100 GW of green hydrogen by 2030, the continent will have to import more green hydrogen than it is exporting in the near future, said Kaufmann, former hydrogen commissioner of Germany and advisor to ThyssenKrupp.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/BCUoj5P

India perfectly situated to join Europe's green hydrogen supply chain: Stefan Kaufmann

Though Europe has a goal to produce around 100 GW of green hydrogen by 2030, the continent will have to import more green hydrogen than it is exporting in the near future, said Kaufmann, former hydrogen commissioner of Germany and advisor to ThyssenKrupp.

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India invokes emergency law to force coal-based power plants to up output

Many of India's power plants that use imported coal, including those owned by Adani Power and Tata Power in the western state of Gujarat, have not operated at full capacity recently because they have found it difficult to compete with power generated from cheap domestic coal.

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Ministry of Corporate Affairs issues show cause notices to PTC India Financial Services

In the notices sent last week, seen by ET, the deputy registrar of companies (National Capital Territory of Delhi & Haryana) has also flagged that PFS, the non-banking financial arm of power trading company PTC India, didn't render the professional help of legal counsel sought by its erstwhile independent directors.

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

Stalled FAME subsidy slows growth in electric 2-wheeler sales

Industry insiders say sales may fall short of the 1-million-unit target this fiscal year, though the number may still be a new record at around three times last fiscal year’s volume.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/nrX2h7U

GAIL imitates Reliance with US ethane plans

"In a bid towards diversification of the feedstock, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres," the company said in a tender document.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/7n8rLjg

INNOVATION: Exploring ways to harness plant molecules for solar energy

If solar panels were more efficient, much smaller panels could make the same amount of electricity, and wouldn't claim as much land.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/3HwLV6f

French nuclear major reaches "good level of techno-commercial convergence" with NPCIL, says Chairman

“Since the submission of EDF’s binding techno-commercial offer for 6 EPR units at the Jaitapur site, in Maharashtra, to the Department of Atomic Energy and NPCIL back in April 2021, our joint teams have worked intensively to converge and define the best conditions for the launch of the project,” Remont recalled.

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

RIL, NTPC, Torrent and Vantage seen leading race for SKS Power

Indicative bids from Nagpur-based Sarda Energy & Minerals, Delhi-based Jindal Power and the Adani Group are much lower and these bidders are no longer considered strong contenders to take over the plant, people familiar with the matter said.

from Energy-Industry-Economic Times https://ift.tt/83LwXm9

India’s RE tendering activity fall from 40 GW in 2019 to 28 GW in 2022: Report

Discoms prefer wind-solar hybrid and renewables with energy storage, instead of plain vanilla projects, it adds

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

GAIL imitates Reliance with US ethane plans

GAIL has a petrochemical plant at Pata, near Kanpur in Uttar Pradesh, and is also looking to set up another unit at Usar in Maharashtra. The company had to cut down on run rate at Pata after the government diverted gas supplies from the plant to city gas suppliers. This led to its profitability being impacted and so now the company is looking to supplement the feedstock with ethane.

from Energy-Industry-Economic Times https://ift.tt/w2RTBvC

Power Ministry proposes tax sops, green clearances for pumped storage hydro projects

Keeping in view the immense utility of the PSPs in grid stabilisation as well as meeting the peaking power demand, a need for formulating separate guidelines to promote PSPs was felt to set the direction of its development, the minsitry said in the guidelines.

from Energy-Industry-Economic Times https://ift.tt/7qBZLts

Australia strongest supporter of India's G20 presidency: Australian Energy Minister

"There is no stronger supporter of G20 chairmanship by India than Australia. We will support you in every way possible," Bowen said at the Raisina @ Sydney/Keynote speech and conversation in Australia.

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INNOVATION: Exploring ways to harness plant molecules for solar energy

The current solar panels aren't very efficient as they are only able to convert up to about 20 per cent of the sun's energy into electricity.

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

Govt committee has found hydro power projects reduce landslides: Power Minister R K Singh

Speaking at the industry event Elecrama today, Singh referred to the agitation against the 2,000 Mw Subansiry hydro project in Arunachal Pradesh, and said the developed world has exploited 60-90 per cent of its hydro power potential but when India starts exploiting hydro, people start saying it is deleterious for the environment.

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India's Russian oil imports surge to a record in January: Trade sources

Last month Russian oil accounted for about 27% of the 5 million bpd of crude imported by India, the world's third-biggest oil importer and consumer, the data showed. India's oil imports typically rise in December and January as state-run refiners avoid maintenance shutdowns in the first quarter to meet their annual production targets fixed by the government.

from Energy-Industry-Economic Times https://ift.tt/5F8WS0j

New board in place, US utility turns to clean energy study

"Simply put, this initiative will accelerate a clean energy economy and support the economic competitiveness of the region, and it will deeply inform TVA about what challenge actually sits in front of us," TVA President and CEO Jeff Lyash told board members.

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India’s plan to ease solar import curbs is rattling local makers

Officials are considering a relaxation of rules for the next two years that restrict imports from China and other foreign producers, because local plants can’t keep up with rising demand.

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

Gail seeks a stake in LNG export terminal in US

The company is exploring the opportunity to acquire up to 26% equity in an existing LNG liquefaction plant or a project that will be commissioned latest by 2027. It is also seeking to source 1 million tonnes per annum of LNG from the US plant on a free-on-board basis for 15 years, starting tentatively from the last quarter of 2026. The purchase contract can be extended by another 5 or 10 years.

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Patnaik asks farmers to use latest technology in farming

Noting that the development of agriculture and farmers is the priority of his government, Patnaik said Odisha has become a leading state in the agri sector.

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Adani Green to disclose refinancing plan after fiscal year ends: sources

One of its subsidiaries, Adani Green Energy Limited Restricted Group, will refinance existing bonds through a 15-year amortizing private placement, the executive said, according to the sources.

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Adani Power calls off acquisition of DB Power

"We wish to inform that the long stop date under the memorandum of understanding ... has expired," Adani Power informed the bourses on Wednesday. The company did not, however, assign a reason for calling off the deal. An email query sent to the company im this regard remained unanswered until the time of going to press on Thursday.

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Eaton exploring opportunities around Make in India

The NYSE-listed company had reported global revenue of $20.8 billion in 2022. In the aerospace sector, Eaton provides hydraulic, fuel, oxygen, air conveyance, electrical, motion control and engine solutions and services. It serves commercial and military aerospace.

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ReNew in talks with lenders for Rs 4,000-cr debt raise

In January 2022, India Clean Energy Holdings, an affiliate of RPPL, raised a $400 million senior secured bond at 4.5 per cent. ReNew's bonds are currently rated Ba3 by Moody's.

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Rs 7,017-crore Adani Power deal to acquire DB Power assets falls through

Earlier in August 2022, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh.

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

Petroleum products can be included in GST framework once states agree, says finance minister

"The provision is already available for petroleum products to be brought into the GST. My predecessor had already made the window kept open," she said while speaking at the Post-Budget interactive session with the members of the industry chamber PHDCCI.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/79uPSR4

Jaishankar launches 'Solarization of Residences of Pacific Heads of State Project' in Fiji

"Pleased to be call on H.E. Ratu Wiliame Katonivere, President of Fiji in State House in Suva. Jointly inaugurated the Solarization of the State House. This is the first of a series that India is supporting in the Pacific Islands," tweeted Jaishankar.

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Commercial users rush to LPG as LNG prices pinch

Total LPG consumption in India amounted to 21,256 thousand metric tonnes from April-December 2022, up 1.8% from a year earlier, according to the oil ministry. The consumption by households, which comprise about 89% of total consumption, was up barely 0.3% year-on-year but sales to commercial users saw a surge. Packed LPG sold to commercial customers increased 18.4% while bulk LPG went up 12% year-on-year.

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

Gautam Adani group touts cash reserves in bid to calm investors

The comments came in a credit report aimed at reassuring investors after a critical investigation by US short-seller Hindenburg Research last month. Scrutiny of the cash position of group companies has intensified as they pay down borrowings, given that a spike in yields on Adani debt after the Hindenburg report would make refinancing prohibitively expensive.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/CragT7D

Indore Municipal Corporation's green bonds generate over Rs 720 crore

According to officials, IMC had floated green bonds to raise a total of Rs 244 crore for setting up a 60 MW solar power plant, the first of its kind offering by any civic body in the country in the capital market.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/2dxFqVJ

ADIA, Goldman Sachs, Carlyle eye TVS Motors' EV arm with $300 mn-$350mn cheque

TVS had appointed Citi to manage the capital-raising exercise last year. With its range of iQube models, TVS has emerged as the second-largest selling brand in the electric two-wheeler market in volume terms after Ola Electric.

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

ONGC posts 26% rise in Q3 profit on higher crude, gas prices

The state-run company’s profit came in at 110.45 billion rupees ($1.33 billion) for the quarter ended December 31 compared to 87.64 billion rupees a year earlier.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/8XqfEkl

How Budget 2023 brought India's commitment to renewable energy in focus

What we need today is similar to what was once called the green revolution in agriculture and the white revolution in dairy. We are in need of a second green revolution, but this time in energy.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/yPi0Jxe

Over 17,000 circuit kilometers of transmission lines installed in last 9 yrs: Power Minister R K Singh

The usage of renewable energy is cheaper compared to the conventional form of energy sources, Singh said, urging the participants to increase use of green energy in their countries.

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Opinion: Poland primed for unlikely role as key energy transition test case: Maguire

The mix of higher renewable energy output and lower fossil fuel generation also helped the country lower overall power sector emissions in 2022 from the year before.

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

Nepal, India agree to allow export of power on long-term basis

Kwatra arrived here on a two-day official visit to hold talks with the country's top leaders on the entire range of multifaceted cooperation between the two neighbouring countries, including connectivity, trade and transit, power sector cooperation, agriculture, education, culture, health sector, and people to people relations, among others.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/E4cyWAt

Adani hires Grant Thornton for some independent audits after Hindenburg fallout: Sources

The appointment marks the first major effort by Adani Group to defend itself in the wake of a Jan. 24 report by Hindenburg that accused it of improper use of offshore tax havens and stock manipulation.

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Eye on green tourism, Goa starts planning shift to renewable energy

Among the objectives of the draft plan are the development of a green rating system and decarbonising programmes or schemes for tourism and allied sectors in the state.

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Addressing environmental concerns is government's priority: Power Minister RK Singh

"India is committed to providing reliable and affordable power supply to people while keeping environmental concerns as the core priority," Singh, who is also the Minister for New and Renewable Energy (MNRE), said in a statement.

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Siemens Gamesa plans US production site if it gets local orders

The US renewables market, the world's second-biggest after China, continues to draw project developers and equipment makers, partly driven by the government's Inflation Reduction Act, designed to boost green technologies locally.

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Adani Group tries to calm market, says business plans fully-funded

The Group has denied all allegations, calling them "malicious", "baseless" and a "calculated attack on India". It called Hindenburg the "Madoffs of Manhattan", referring to the late financier and fraudster Bernie Madoff.

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Over Rs 5,100 crore outlay for 2 schemes in petroleum sector: Rameswar Teli

In a written reply to a question by BJP's Anil Baluni in the Rajya Sabha, Teli gave details of the central sector schemes with outlays above Rs 1,000 crore related to the petroleum and natural gas sector during the last five years. As much as Rs 4,278 crore allocation has been made for the Indradhanush Gas Grid Ltd, which is building a gas grid in the North East.

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Adani shares drop as group cuts revenue growth target by 50 per cent

Adani Green Energy Ltd., Adani Total Gas Ltd., and Adani Transmission Ltd.. were down by the 5 per cent limit. Flagship Adani Enterprises Ltd. swung between gains and losses.

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Why Adani's $100 billion loss hasn't tanked Indian markets

That would be a frightening prospect not just for India but for the world. The country's economy recently passed Britain's to become the world's fifth largest, and it is the only big one - China's included - that has clocked strong and steady growth since pandemic restrictions were relaxed.

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Indian refiners may buy Russian fuel, export own

The European Union has banned the import of refined petroleum products from Russia, including petrol, diesel and jet fuel, from February 5. The European Union, along with G-7 countries, has also placed price caps on Russian refined products.

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'India can achieve net zero well ahead of target'

India could achieve its target of net zero greenhouse gas emissions well ahead of 2070," International Renewable Energy Agency (IRENA) director general Francesco La Camera has said.

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Indian refiners may buy Russian fuel, export own

Russia has already become the top supplier of crude to India, accounting for 28% of India's crude imports, up from less than 1% in 2021. India's imports of Russian refined products have also risen to record levels in recent months, though mostly limited to fuel oil. They may soon expand to petrol and diesel.

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UP best destination for investment, has potential to realise PM's dream of self-reliant India, says Gadkari

Speaking at the session on e-mobility vehicles & future mobility on the second day of the three-day long 'Global Investors Summit', Gadkari said Uttar Pradesh has all four major requirements of water, power, transport and communication.

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Reliance, Aditya Birla Group, Tata to invest more than Rs 1 lakh crore in Uttar Pradesh

Similarly, Aditya Birla Group Chairman Kumar Mangalam Birla said his group has committed Rs 25,000 crore investment across its various businesses such as cement, metals, chemicals, financial services and renewable energy in the state.

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Coal minister reviews progress of thermal power plant construction in UP

Coal minister Pralhad Joshi on Saturday reviewed the construction of NUPPL, a coal-based super critical thermal power plant, and gave directions to expedite the completion of the project.

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Trading firms are making fortunes by delivering Russian oil to India

The European Union banned imports of Russian crude in December, putting the country at the mercy of two big buyers: China and India. Numerous new trading firms with ties to Moscow emerged — especially in Dubai — before the measure, along with a price cap on Russian oil, was imposed.

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DRI moves SC challenging CESTAT order quashing case against Adani Enterprises arm

Earlier, in November, the agency had filed a similar appeal in connection with the relief granted to two other Adani group subsidiaries, Adani Power Maharashtra Ltd (APML) and Adani Power Rajasthan Ltd (APRL) in a similar case.

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RIL to invest Rs 75,000 cr in UP over 4 years: Mukesh Ambani at Uttar Pradesh Global Investor Summit

Reliance will continue to work for UP and it has always backed its words with action, Ambani said.

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OPINION: The dawn of India’s energy decade

The contours of how the country will look to solve its energy challenges are beginning to emerge, and pragmatic discussions and meaningful actions are occurring in three broad areas: stable, long-dated policies; a ‘whole of government’ approach; and bold partnerships.

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CCI gives nod to KKR purchasing stake in Hero Future Energies Global

The proposed combination relates to subscription of compulsorily convertible preference shares of Hero Future Energies Global Ltd (HFE) by Ardor Holdings II Pte Ltd.

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Delhi to raise power generation capacity by 6,000 MW through renewable energy

The deputy chief minister emphasised on faster adoption of rooftop solar panels by Delhi government offices, schools and other buildings, as per the city's new solar policy.

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Solar tech firm Nextracker raises $638 million in upsized U.S. IPO

Nextracker sold 26.6 million shares of its Class A common stock at $24 apiece, according to the statement, giving the Fremont, California-based company a valuation of over $3.5 billion. This comes at the upper-end of their indicated range of $20 to $23 per share.

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Govt earnestly trying to resolve issues with France on Jaitapur nuclear power reactors: Minister

We are, very earnestly, trying to sort it out and we are moving forward," Minister of State for Atomic Energy Jitendra Singh said in the Rajya Sabha during the Question Hour.

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Sustainalytics downgrades three Adani companies' governance scores

The lowered scores, including for Adani Green Energy and Adani Transmission, come after a Jan. 24 report from short-seller Hindenburg Research alleged accounting fraud and stock manipulation at the sprawling Indian conglomerate.

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Govt homes in on Rs 25,000 crore projects for green financing

"This money is being raised for a very specific purpose, so it will be utilised strictly in stipulated green projects," he said, adding that more green projects are expected to be identified for funding later.

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Govt homes in on Rs 25,000 crore projects for green financing

"This money is being raised for a very specific purpose, so it will be utilised strictly in stipulated green projects," he said, adding that more green projects are expected to be identified for funding later.

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PM Modi lashes opposition as Adani allegations persist

Modi spent a nearly 90-minute speech to parliament mainly listing governments achievements and without naming the under-fire Adani Group.

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We are looking for bankable projects to extend 1 bn Euro funding for Green Hydrogen in India: Kris Peeters, VP, European Investment Bank

The European Investment Bank (EIB) has just committed a 1 billion Euro funding for Green Hydrogen projects in India and has partnered with India Hydrogen Alliance. The Luxembourg-based lender has so far extended funding assistance of a whopping 4.8 bn Euro in India and is bullish on the country's Green Hydrogen story, Kris Peeters, Vice President, EIB tells ETEnergyworld in an exclusive interview. Edited excerpts..

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://energy.economictimes.indiatimes.com/news/renewable/97745611?utm_source=RSS&utm_medium=ETRSS

EverWind gets approval for North America's first green hydrogen facility

Provincial authorities in Canada granted environmental approval for EverWind to begin converting a former oil storage facility and marine terminal at Point Tupper in Nova Scotia into a green hydrogen and ammonia production hub.

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Adani Total Gas says expansion and spending plans are intact

“Our plans are intact,” Chief Executive Officer Suresh P. Manglani told Bloomberg Television in an interview Tuesday in Bengaluru. “Our expansions are happening and our revenue is building up.”

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Experts to discuss opportunities, challenges and implementation of clean energy projects at REConIndia 2023

Exclusive professional networking platform for business leaders Blue Circle is organising REConIndia 2023, a renewable energy conference, in association with Hero Future Energies on February 17, 2023 at The Leela Ambience, Gurugram, a statement said.

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PPAC and IEA to collaborate on data and research in energy sector

Both the Parties intend to co-operate on the areas of energy market data and statistics, biofuels (bioethanol and biodiesel) and Compressed Bio-Gas (CBG) and other emerging fuels.

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Petronet seeks more LNG under long-term Qatar deal

Petronet, which is currently purchasing LNG from Qatar at $16 per million British thermal unit (mmbtu), has until the end of this year to renew its deal. India's LNG imports fell for the second straight year in 2022, mainly due to fewer imports by utilities as the country ramped up coal-fired power production at the expense of natural gas.

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India likely to achieve Net Zero before 2070: IRENA DG Francesco La Camera

In an exclusive interaction with ETEnergyworld, Franceso La Camera, Director General of International Renewable Energy Agency (IRENA), shares his views on the pace of progress on India's target to achieve Net Zero by 2070, and the global energy transition. The scale and speed of global energy transition is not enough to meet the Paris Agreement goal on climate change, he says. Edited excerpts..

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ONGC to reverse oil, gas output decline; sees 18% jump in production in FY25

Oil and Natural Gas Corporation (ONGC) in fiscal 2021-22 produced 21.707 million tonne of crude oil, which is refined to produce petroleum products like petrol and diesel, and 21.68 billion cubic metre (bcm) of natural gas, which is used to produce electricity, manufacture fertiliser and as CNG in automobiles.

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India likely to achieve Net Zero before 2070: IRENA DG Francesco La Camera

In an exclusive interaction with ETEnergyworld, Franceso La Camera, Director General of International Renewable Energy Agency (IRENA) shares his views on the pace of progress on India's target to achieve Net Zero by 2070, and the global energy transition. The scale and speed of transition is not enough to meet the Paris Agreement goal on climate change, he says. Edited excerpts..

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PM Modi says India's energy strategy being developed in four verticals

The pillars include increasing domestic E&P, diversification of supplies; expansion of alternative energy sources and de-carbonization via EVs and Hydrogen.

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PM Modi says India's energy strategy being developed in four verticals

The pillars include increasing domestic E&P, diversification of supplies; expansion of alternative energy sources and de-carbonization via EVs and Hydrogen.

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Renewables, hydrogen to make India world's 3rd largest eco, says PM

Modi met top oil and gas industry leaders for the annual brainstorming to discuss ideas and initiatives to put India on a sustainable growth path, sources aware of the matter said.

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World needs $12 trillion investment in Oil Exploration & Production by 2045: OPEC Secy General

He said the OPEC is in favour of transition and cleaner energy switching but said the issue here is not about the source but it is about emission.

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Indian Oil to sign MOU with LanzaJet for sustainable aviation fuel

The company has a tie up with LanzaTech for converting waste gas to ethanol, and U.S.-based LanzaJet will be helping in upgrading ethanol to jet fuel. By 2030, 2% of aviation fuel will be sustainable aviation fuel, Chairman S. M. Vaidya told Reuters on the sidelines of India Energy Week in Bengaluru.

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India's LiFE initiative could cut over 2 billion tonnes in CO2 emissions by 2030, says IEA

A new assessment by the Paris-based International Energy Agency (IEA) quantifying the impact found that reductions resulting from the initiatives and measures proposed under LiFE would account for a fifth of the emissions reductions needed by 2030 to put the world on a pathway towards net zero emissions.

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India's unwavering appetite for Russian crude lifts Jan inflows to record high

India, the world's third-largest crude importer after China and the United States, has been snapping Russian oil that was available at a discount after some in the West shunned it as a means of punishing Moscow for its invasion of Ukraine.

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India can tap opportunities in renewable energy sector: TN Finance Minister

The TN minister said East Asian countries, particularly South Korea and Japan, are looking forward to investing elsewhere when the world is recovering from COVID-19, adding that India can step up its engagements with global finance and reap the benefits.

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At Indian Oil, R&D chief will not lose board seat

The company has conveyed to the government that it changed its mind after receiving wider feedback on the proposal, they said.

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BMC budget: Big push for generation of solar energy projects

The civic budget has given a push for solar energy projects. It mentions that at Gorai dumping site, which was scientifically shut in 2009, a project to convert solar energy into electricity was being undertaken.

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PM Modi to inaugurate India Energy Week 2023 in Bengaluru

According to Prime Minister's Office (PMO), the event will bring together leaders from the traditional and non-traditional energy industry, governments, and academia to discuss the challenges and opportunities that a responsible energy transition presents.

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Power minister says global energy transition discourse needs to move together with energy security

"Focus on only energy transition is incomplete," Singh said at the G20 Energy Transition Working Group Meeting. Energy storage is essential as the world moves towards Renewable energy sources and investment in the area is equally important, he added. Until investment is made in storage, round-the-clock electricity supply cannot be achieved as renewable energy takes centerstage.

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ONGC to ramp up exploration for oil, gas; looks for collaborations

ONGC, he said, has a larger role because of its objectives being aligned with the national interest. "So, we have to figure out ways that cater to the national interest, which can't be done by private entities. And it is for these reasons only that we are looking forward to collaboration and partnerships in difficult fields." Asked what needs to change in ONGC, he said speed becomes a casualty at times because of multi-functional disciplines governing various spheres of finding and producing oil and gas.

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Oil’s new map: How India turns Russia crude into the West’s fuel

As Europe ramps us sanctions, India is only going to become more central to a global oil map that’s been redrawn by Vladimir Putin’s year-long war in Ukraine.

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Government hikes windfall gains tax on crude, diesel and ATF

The government on Saturday revised windfall gains tax with the Centre adjusting its Special Additional Excise Duty (SAED) on crude petroleum by Rs 3,150 per tonne, diesel and air turbine fuel (ATF) by Rs 2.5 per litre each.

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Sebi notifies stronger framework for green bonds; introduces concept of blue, yellow bonds

As per the notification, the watchdog has strengthened the framework for green bonds by enhancing the scope of definition of green debt security by including new modes of sustainable finance in relation to pollution prevention and control and eco-efficient products.

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Windfall tax to continue for now; collections at Rs 25,000 cr this year

India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. At that time, export duties of Rs 6 per litre (USD 12 per barrel) each were levied on petrol and ATF, and Rs 13 a litre (USD 26 a barrel) on diesel.

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Sitharaman urges industry to set standards in renewable energy

Industry, she said, should highlight its potential and share it with the government on a regular basis which will facilitate policy intervention by the government.

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No impact of Adani Group firms' stock rout, India has 15 to 16 large firms in renewables, says R K Singh

Asked about the impact of the issue on clean energy sector, Singh told reporters in a press conference, "I have the most robust renewable energy capacity in the world and that means that I have at least 15-16 large companies which are at the level of global companies.

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Sitharaman urges industry to set standards in renewable energy

Industry, she said, should highlight its potential and share it with the government on a regular basis which will facilitate policy intervention by the government.

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RBI seeks details of banks' exposure to Adani Group

On Wednesday, Swiss lender Credit Suisse stopped accepting bonds by Adani group companies as collaterals for margin lending.

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RBI seeks details of banks' exposure to Adani Group

On Wednesday, Swiss lender Credit Suisse stopped accepting bonds by Adani group companies as collaterals for margin lending.

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Storage plants to help meet power demand in long run: RK Singh

The two storage plans were announced in the Union budget for 2023-24. The total cost of the 4,000 Mwh battery energy storage is about ₹9,500 crore, while a policy for pumped hydro storage plants is in the works, he said.

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Trina Solar publishes white paper on 210mm n-type i-TOPCon advanced technology, and upgraded Vertex N 605W/695W leads among utilities by high value

Trina Solar publishes white paper on 210mm n-type i-TOPCon advanced technology, and upgraded Vertex N 605W/695W leads among utilities by high value [Brand Connect Initative]

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Government refuses to comment on Adani Group crisis

Chief Economic Advisor (CEA) V Anantha Nageswaran on Tuesday had also refused to comment on the impact of the rout in Adani Group shares following a damning report by US-based short seller Hindenburg Research.

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Banks pocket $12 million in fees in Adani’s mega share sale

The fees are equivalent to around 0.5 per cent of the 200 billion rupees raised in Adani Enterprises Ltd.’s offering, said the people, who asked not to be identified as the information is private.

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Energy Budget 2023: Solar power’s allocation rises by 48 per cent

According to the Expenditure Budget document for 2023-24, Rs 4,970 crore is allocated for grid-interactive solar power projects, Rs 1,996 crore for PM-KUSUM, and Rs 361 crore for off-grid solar power projects.

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Energy Budget 2023: Solar power’s allocation rises by 48 per cent

According to the Expenditure Budget document for 2023-24, Rs 4,970 crore is allocated for grid-interactive solar power projects, Rs 1,996 crore for PM-KUSUM, and Rs 361 crore for off-grid solar power projects.

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Adani Enterprises calls off fully subscribed FPO, to return money to investors

The announcement comes a day after the company's FPO was subscribed fully on the last day of the offer on Tuesday.

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