SAEL raises Rs 1,325 crore via bonds

The bonds were subscribed by a consortium of four leading institutions, namely, India Infradebt Ltd, Aseem Infrastructure Finance Ltd, TATA Cleantech Capital Ltd, and Kotak Infrastructure Debt Fund Ltd, it stated.

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Domestic gas prices remain unchanged

Under the existing formula, the price was due to go up for April-September, but to ensure fair prices for consumers and that inflation is kept in check the federal government last year set up a panel to review it.

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Commercial LPG cylinder prices slashed by Rs 91.50 in National Capital

A 19 kg of Commercial LPG cylinder will now cost Rs 2,028 in the national capital. However, no changes have been made in the prices of the domestic LPG cylinders, sources said.

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EU deal to nearly double renewable energy by 2030

The provisional political agreement, which was reached after nightlong negotiations between the EU parliament and states, seeks to raise the share of renewable energy to 42.5 percent, from 22 percent today.

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India needs $540 bn investment by 2029 to meet renewable targets: S&P Global Ratings

India is targeting to cut its emissions to net zero by 2070. In the transition to that, it is targeting 500 gigawatts (GW) of non-fossil electricity capacity, half of the energy from renewables, a reduction of emissions by one billion tonne and an emissions intensity of the GDP by 45 per cent by 2030.

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India needs $540 bn investment by 2029 to meet renewable targets: S&P Global Ratings

India is targeting to cut its emissions to net zero by 2070. In the transition to that, it is targeting 500 gigawatts (GW) of non-fossil electricity capacity, half of the energy from renewables, a reduction of emissions by one billion tonne and an emissions intensity of the GDP by 45 per cent by 2030.

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HPCL signs pact with BPCL for hydrogen synergy

"A Memorandum of Understanding (MoU) was signed between HPCL Mumbai refinery and BPCL Mumbai refinery as part of synergy through purchase and sale of hydrogen," the company said in a statement.

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India, Taiwan can collaborate on offshore wind, solar, electric mobility: Experts

“Taiwan is the largest producer of solar wafers which could feed into India’s renewable energy and battery programme,” said Kartikeya Singh, Director, Global Energy Futures Initiative.

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India, Taiwan can collaborate on offshore wind, solar, electric mobility: Experts

“Taiwan is the largest producer of solar wafers which could feed into India’s renewable energy and battery programme,” said Kartikeya Singh, Director, Global Energy Futures Initiative.

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Statkraft, first MNC to buy bankrupt Indian power firm

Oslo-headquartered Statkraft was pitted against Biocon-backed Ampyr Energy, ReNew Power, an arm of state-owned NTPC and European renewable energy major Statec, that had also submitted expressions of interest to acquire the Lanco unit.

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Adani pulls back on grand ambitions after Hindenburg bombshell

Instead, Adani — who has been closely associated with Indian Prime Minister Narendra Modi’s nation-building efforts — will revert his focus to core projects. They include power generation, ports and newer green energy initiatives, according to the people.

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Foreign offshore drilling contractors lobby against new safety rules

"Any mobile offshore drilling unit participating in a tender after the issuance of this order (India or foreign) shall comply with the requirements of MODU code 1989 or 2009, depending on the year of construction/modification," the order said.

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Statkraft's resolution for Lanco Mandakini gets NCLT nod

Lenders including Punjab National Bank, Canara Bank, Bank of Baroda and Axis Bank will recover ₹180 crore against the secured financial creditors' claim of ₹1,311 crore, entailing a 14 per cent recovery on the sale.

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REC arm RECPDCL hands over Khavda II-A Transmission Ltd to Adani Transmission

"RECPDCL handed over the project-specific SPV formed for the construction of transmission project viz., 'Khavda II-A Transmission Limited to Adani Transmission Limited (ATL) on 28th March 2023," the company said in a statement.

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PTC India appoints Rajib K Mishra as CMD despite regulatory cloud

Mishra was director of marketing and business development before he took over as acting chairman in November 2021 after the then CMD Deepak Amitabh resigned at the time. He has been under a regulatory cloud following resignations of multiple independent directors in both PFS and parent PTC citing corporate governance issues, mismanagement, evergreening of loans and medication of critical sanction terms by the management without seeking prior approval of the board at PFS.

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CFM ARC offers Rs 1,000 crore for troubled Vidarbha Power's loans

However, the offer from Mumbai-based CFM ARC, an asset reconstruction company, is conditional. It offered upfront payment to the consortium leader Axis Bank only if all lenders agreed to sell their loans. The ARC's offer comes within months of a landmark Supreme Court order that rejected a petition by Axis Bank to admit the company for insolvency.

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Renewable energy investments - Fixing the climate crisis won't be asset-light

The largest contributors to climate change have been built on decades of infrastructure investments, and fairly efficient supply chains depending on them. Viable and sustained alternatives will need funds to at least match the existing infrastructure.

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ReNew repays USD 1 bn to offshore bondholders

"ReNew has repaid more than USD 1 billion to its offshore bondholders in FY 2023. The amount repaid includes the most recent amortisation of USD 180 million this month," the clean energy company said.

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ReNew repays USD 1 bn to offshore bondholders

Over the past fiscal year, the Nasdaq-listed company refinanced USD 525 million in the domestic markets ahead of the March 2024 maturity, in addition to repayment of USD 300 million from its internal cash flow accruals.

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NTPC Renewable Energy to supply 1,300 MW clean power to Greenko

The term sheet was signed in the presence of Mohit Bhargava, CEO (NTPC Renewable Energy Ltd), Anil Chalamalasetty, founder and MD, Greenko and other senior officials from NTPC REL, it stated.

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India could invest $25 billion in energy transition and clean energy over next decade: Report

Despite the global economic slowdown, investment interest in the Indian energy transition sector swelled in 2022 and India will continue to be at the forefront of global decarbonisation efforts.

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SL to sign a deal with India to shift to renewable energy for power generation

​Sri Lankan Cabinet has given approval for a MoU on the cooperation in the field of renewable energy between the two countries, a Sri Lanka Cabinet spokesman said.

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Electric vehicle makers hop on to IPL bandwagon to showcase tech

In the upcoming season of the tournament, EV makers will be seen using the biggest event in the nation's annual sporting calendar to create awareness, enhance appeal around battery operated vehicles and build a narrative of viability around the nascent category.

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Nuclear row threatens EU deal on renewable energy goals

Negotiators from EU countries and the European Parliament hold their final scheduled round of negotiations on Wednesday, to set more ambitious EU goals to expand renewable energy this decade.

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SC dismisses DRI's petition against three Adani group subsidiaries

Between November 2022 and January 2023, the federal agency had moved the apex court against the relief granted to three firms namely : Adani Power Maharashtra Ltd (APML), Adani Power Rajasthan Ltd (APRL) and Maharashtra Eastern Grid Power Transmission Company Limited (MEGPTCL) by CESTAT.

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Panaji’s govt bldgs to be solar powered by 2024: Dhavalikar

“In Panaji, work will start in the financial year 2023-24. We will see that it is completed by the end of it,” Dhavalikar said, replying to the question tabled by Curtorim MLA Aleixo Lourenco. He had sought to know about the government’s renewable energy plans.

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Gujarat govt's GMDC plans to set up two power plants in Odisha, energy minister tells state Assembly

Earlier, the state government's PSU had said it won the bids for Burapahar block having a geological reserve of 548 million tonnes (MT) and the Baitarani (West) block having geological reserve of 1,152 MT.

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83 pct Asian SMEs say ESG is high priority but only 37 pct have roadmap

The study engaged over 937 decision-makers in industries covering real estate, mobility, power, agriculture and F&B/Hospitality. In-depth interviews with 11 decision-makers from SMEs were also conducted to further understand the barriers and opportunities around sustainability.

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India considers strategic LNG reserve to avoid future shortages

The government has “proposed we should have more storage space for LNG so that when prices are lower we should store, and supply when there is crisis,” Vinod Kumar Mishra, finance director at Petronet LNG Ltd., said in an interview.

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Japan's TEPCO to develop 1.9 GW of offshore wind power in Scotland

Many once-conventional energy and power companies around the globe are switching their attention to renewable energy, such as solar, wind and biofuels, to cut pollution in line with their own and government goals in the next couple of decades.

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Billionaire mining tycoon Anil Agarwal fights to clear debt

Anil Agarwal's Vedanta Resources is facing one of its toughest challenges yet with close to $2bn of bonds due for settlement in 2024, and half due in January.

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India considers strategic LNG reserve to avoid future shortages

While no storage targets have yet been discussed, Petronet is adding more tanks at its LNG import terminals to store the imported fuel and is working on a floating import plant in the eastern state of Odisha, Mishra said. Long-Term Deals Last year’s crunch is also prompting Indian buyers to hunt for long-term supply deals, which ensures deliveries to customers at more stable prices, Mishra said. Some of these deals are likely to be sealed in 2023, he said.

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CPPIB may offer to buy out ReNew minority shareholders

CPPIB, which has already been consolidating its shareholding in the Nasdaq listed company, through the tender offer is planning to take the company private, they added.

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Adani Group, Reliance Industries pull out of race to acquire SKS Power Generation

Nagpur-based Sarda Energy & Minerals, Delhi-based Jindal Power, public-sector utility NTPC, Gujarat-based Torrent Power, and Singapore-based Vantage Point Asset Management have submitted revised bids to take over SKS under the corporate insolvency resolution process.

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Delegates discuss energy security, climate change at second G20 Framework Working Group meeting

The two-day meeting was co-chaired by V Anantha Nageswaran, Chief Economic Adviser, Ministry of Finance and Clare Lombardelli, Chief Economic Adviser, UK Treasury. Around 87 delegates from G20 member countries, invitees, and international organizations attended the meeting.

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Russia may have found buyers for its oil but aging tankers pose a new risk

The aftermath of European Union sanctions on Russia mean that the Turba has been enlisted into a vast shadow fleet carrying Moscow’s oil around the globe. Its continued operation is a stark reminder that Group of Seven sanctions on Moscow carry an environmental risk.

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Cabinet to consider price caps on gas to stave off rates rising to USD 10.7 per mm

APM gas fields were allotted to ONGC and OIL before 1999. Production from these fields do not attract profit-sharing with the government, and their pricing formula is benchmarked to gas prices at international gas hubs in surplus nations every six months based on the weighted average price. Prices were last revised on October 1 and are now due for revision on April 1.

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Reliance Industries names Srikanth Venkatachari as new chief financial officer

Reliance Industries Ltd has appointed Srikanth Venkatachari as chief financial officer effective June 1, according a late evening release by the company. He takes over from Alok Agarwal, who has been CFO since 2005, and will now assume the role of senior advisor to Reliance Chairman Mukesh Ambani.

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Asian Development Bank to provide Rs 754 crore loan to SAEL Industries

SAEL is a solar and agricultural waste-to-energy company. It has developed a business model where crop residues are used as fuel in waste-to-energy projects.

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India set to surpass China in need for oil as growth paths diverge

While India is unlikely to replicate the mammoth scale of China’s expansive oil network — the nation’s daily crude consumption is triple that of its neighbor — traders and producers looking to tap into diminishing global demand growth will be betting on the South Asian nation into the next decade.

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BP weighs buying control of solar power JV Lightsource BP

The internal talks come after Chief Executive Officer Bernard Looney last month slowed down BP's shift away from oil and gas but still vowed to increase spending on renewables and low-carbon fuels by USD 8 billion by 2030.

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Sanchi in MP will be the world's first Net Zero city: Sanjay Dubey, Principal Secretary, Energy

The plan includes tapping into rooftop solar projects, solar parks, wind energy, peso-electric floors, electric vehicles and even the sink around Sanchi covering the water bodies and forest areas.

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Sanchi in MP will be the world's first Net Zero city: Sanjay Dubey, Principal Secretary, Energy

The plan includes tapping into rooftop solar projects, solar parks, wind energy, peso-electric floors, electric vehicles and even the sink around Sanchi covering the water bodies and forest areas.

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Opinion: India's coal + renewables mix makes for messy energy transition

India installed 13.9 gigawatts (GW) of new solar capacity in 2022, according to think tank Ember, dwarfing the 7.9 GW capacity growth in Europe's top solar producer, Germany, and establishing India as a top-tier green energy leader.

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What makes India's solar growth story a success? A risk-free development model, rooftops, strong regulatory backbone

India had an installed base of 8,488 MW of solar rooftop generation capacity at the end of February 2023 according to MNRE data, as against 7,520 MW in Sept 2022 - a growth of almost 1,000 MW in the past five months alone.

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What makes India's solar growth story a success? A risk-free development model, rooftops, strong regulatory backbone

India had an installed base of 8,488 MW of solar rooftop generation capacity at the end of February 2023 according to MNRE data, as against 7,520 MW in Sept 2022 - a growth of almost 1,000 MW in the past five months alone.

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REC arm hands over 6 SPVs to Power Grid Corporation for transmission projects

"RECPDCL has handed over 6 projects' specific SPVs mostly formed for the construction of transmission projects in Khavda region through tariff-based-competitive bidding process on March 21, 2023. Power Grid Corporation of India Limited (PGCIL) was the successful bidder for all of the 6 projects of the Ministry of Power," it said.

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Various measures taken for sustainable development of civil aviation sector: MoCA

Among other efforts, the ministry said it has advised the Airports Economic Regulatory Authority (AERA) to consider the costs associated with the use of green energy use while determining tariffs for airports.

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India eyes becoming global hub of Green Ship Building by 2030: Shipping Minister Sarbananda Sonowal

A Major Port is one which is under the administrative control of the Union Shipping Ministry while a Tug (also called Tugboat) is a vessel used to manoeuvre ships into port berths.

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IGL, BHEL to make special cylinders for hydrogen use

IGL V-P Sanjeev Kumar Bhatia and BHEL GM marketing S. Prabhakar Signed the MoU in the presence of IGL director (commercial) Pawan Kumar and BHEL chairman Nalin Singhal.

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Tata Power seeks government help to recover ₹1,789 crore discom dues

The government has invoked Section 11 of the Electricity Act mandating all imported coal-based plants to start operations from March 16, a measure to address an expected high demand over April and May.

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India exploited 29 percent of hydropower potential: Power Minister

Singh said that 42,104.6 MW (29 per cent) out of 1,45,320 MW has been developed and 15,023.5 MW (10.3 per cent) is under construction.

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Indian Army plans to install green hydrogen-based power plants along border with China

The Army said it signed an agreement with NTPC Renewable Energy Limited (NTPC REL) on Tuesday for the initiative.

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Tata Power seeks government help to recover ₹1,789 crore discom dues

In a letter dated February 27, Tata Power said its arm, Coastal Power Gujarat Ltd (CGPL), which operates the 4,000 MW Mundra units, would not be able to operate further under Section 11 of the Electricity Act, 2003 unless the dues from distribution companies were cleared.

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Renewable energy at sub-Rs 2 per unit a must for Green Hydrogen at $2 per Kg: Report

There is a need to bring down the cost of production from $3-6 per kg currently to less than $2 per kg, to be competitive with other energy sources, the ratings agency said.

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Tata Power Renewable Energy secures LoA for 200 MW Solar PV project from MSEDCL

The company said the project, awarded through competitive bidding followed by reverse e-auction, will be commissioned within 18 months from the PPA execution date.

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KKR to sell 50 per cent stake in Spain’s X-ELIO to Brookfield Renewable

Following the transaction, Brookfield Renewable will own 100 per cent of X-ELIO.

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NTPC, IOCL ink pact to set up renewable energy projects

The JV agreement was signed in the presence of Gurdeep Singh, Chairman and Managing Director of NTPC Limited and Shrikant Madhav Vaidya, Chairman of IOCL, among others.

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Adani Group says engaging with financial institutions over Gujarat petchem project

The company clarified after Press Trust of India reported on Sunday that the embattled group had suspended work on the 349 billion rupees ($4.23 billion) Green PVC project after the Hindenburg short seller report.

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SECI gearing up to emerge as main aggregator in green hydrogen sector

SECI has already started consultations with the major players in this field such as steel, fertilisers, refineries, said its managing director

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Markets, Prices and Regulation: How high can the power market be allowed to go?

Once data from the new regime becomes available there should be a quick review and alternative methods found that do not intrude into the free functioning of the market.

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Centre slashes windfall tax on crude oil production to Rs 3,500 per tonne

It also marginally increased export duty on diesel to Rs one per litre from Rs 0.50 while keeping both petrol and Aviation Turbine Fuel (ATF) exempted from the export levy. The new rate will be effective from March 21.

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Reliance re-auctions gas in line with new govt rules

Reliance and its partner BP Exploration (Alpha) Ltd (BPEAL) will sell 6 million standard cubic meters per day of gas in an e-auction planned for April 3, a tender notice said.

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Fuel export curbs likely to be extended

The central government will likely extend its restrictions on the export of diesel and gasoline. The extension of rules may discourage some Indian refiners, mainly private companies, from buying Russian fuels for re-exports to countries including those in Europe that have stopped purchases of refined products from Russia due to its invasion of Ukraine.

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Brookfield in talks to acquire CleanMax Solar

Investment bank Rothschild is advising CleanMax on the fundraise, one source said. "The funds, largely primary equity infusion into the company, will be used to expand its business in India as well as south east Asia and Gulf countries and to retire some debt," he added.

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SECI plans to issue first C&I tender in next financial year

Suman Sharma, MD, SECI said that the C&I segment has emerged as a significant customer for customised RE products and SECI has been in consultation with prospective buyers in this regard

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SECI to launch Green Hydrogen aggregation tender soon: MD Suman Sharma

She was delivering the Keynote Address at the ETEnergyworld Solar Power Congress 2023 here. "I hope very shortly we will be able to come out with the Green Hydrogen aggregation tender as well," Sharma said.

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SECI to launch Green Hydrogen aggregation tender soon: MD Suman Sharma

She was delivering the Keynote Address at the ETEnergyworld Solar Power Congress 2023 here. "I hope very shortly we will be able to come out with the Green Hydrogen aggregation tender as well," Sharma said.

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India's power consumption rises 10% in Apr-Feb to 1375 billion units, surpasses full fiscal energy supplies year ago

The power ministry has estimated peak power demand in the country at 229 GW during April this year, which is higher than 215.88 GW recorded in the same month a year ago. The ministry has taken many steps to meet high power demand and also asked state utilities to not go for power cuts or load shedding.

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Investors showed interest to pump in Rs 1,000 crore in Sikkim: CM Tamang

Tamang, while addressing a press conference on Friday, said the interest shown by the investors during a G20 meeting on March 16 will be fruitful for the state in the long run.

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SJVN Green Energy bags 200 MW solar power project in Maharashtra

The project shall be constructed in a period of 18 months which shall be reckoned from the date of signing of PPA (power purchase agreement) with MSEDCL.

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India setting up Ultra Mega Solar Parks of 40 GW capacity: Jagdambika Pal

He was speaking as "Guest of Honour" at the ETEnergyworld Solar Power Congress. The government has approved 57 solar parks with an aggregate capacity of around 39,285 MW under the scheme for “Development of Solar Parks and Ultra Mega Solar Power Projects” in 13 states.

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India setting up Ultra Mega Solar Parks of 40 GW capacity: Jagdambika Pal

He was speaking as "Guest of Honour" at the ETEnergyworld Solar Power Congress. The government has approved 57 solar parks with an aggregate capacity of around 39,285 MW under the scheme for “Development of Solar Parks and Ultra Mega Solar Power Projects” in 13 states.

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Tanker giants sprout from nowhere to keep Russian oil moving

India and the United Arab Emirates did not sign up to the price cap, nor do they have other sanctions on Russian oil. They can legally use western services too, providing they give an attestation the cargoes were bought at or below the cap.

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Himachal to exploit renewable power potential to be a green state by 2026

A target of starting new solar energy projects with a capacity of 500 MW has been set for 2023-24, and two Panchayats in each district will be developed as Green Panchayats on a pilot basis, said Chief Minister while presenting the budget for the next fiscal.

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Adani group says Vinod Adani is part of promoter group

"We would like to submit that Gautam Adani and Rajesh Adani are individual promoters of various listed entities within the Adani group and Vinod Adani is an immediate relative of the individual promoters," the group's flagship Adani Enterprises said in a stock exchange filing on Thursday.

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Over 50% drop in global LNG prices to spur demand

Anticipating an increase in demand, liquefied natural gas (LNG) importers Gail India, Gujarat State Petroleum Corporation Ltd, Petronet LNG and Indian Oil Corporation (IOCL) among others, are contracting for more spot LNG cargoes, according to industry sources.

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Oil steadies as investors take stock of banking crisis

Oil prices were little changed on Friday after a meeting between Saudi Arabia and Russia calmed markets, but crude benchmarks were still headed for a second weekly fall after a banking crisis sparked a sell-off in global financial markets this week.

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Well prepared for peak summer demand from power units: Coal secretary Amrit Lal Meena

The closing stock at pitheads will come at around 70 million tonnes in March end and overall coal production for the financial year is expected at 880 million tonnes, which gives comfort, he said.

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GAIL signs MoU with Shell to explore ethane sourcing

India's largest gas utility GAIL on Friday said it has signed an agreement with Shell Energy India Pvt Ltd to explore ethane sourcing and other opportunities along the energy value chain. GAIL is planning to import ethane from the US to replace natural gas and naphtha as feedstock at petrochemical plants.

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ETEnergyworld Solar Power Congress: Bhagwanth Khuba, MoS, New and Renewable Energy to address industry leaders

The one-day physical event, the largest such initiative on the solar industry from the house of The Economic Times, is being held this year at The Hyatt Regency on 17 March 2023.

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Oil prices steady as investors take stock of banking crisis

Both contracts hit their lowest in more than a year this week and are set to post their biggest weekly falls since December at about 10%. Oil and other global assets were undercut this week as the collapse of Silicon Valley Bank (SVB) and Signature Bank sent the U.S. and Swiss governments scrambling to shore up liquidity at banks.

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ETEnergyworld Solar Power Congress: Bhagwanth Khuba, MoS, New and Renewable Energy to address industry leaders

The one-day physical event, the largest such initiative on the solar industry from the house of The Economic Times, is being held this year at The Hyatt Regency on 17 March 2023.

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Lenders to Videocon's oil arm to vote on four resolution plans

The resolution professional Pravin Navandar invited lenders to vote on the four plans from March 30.

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Siemens Energy sells shares worth $1.33 billion to help fund Gamesa bid

Siemens Energy in November launched a bid for the remaining stake it did not already own in Siemens Gamesa, frustrated by a number of profit warnings at the division that had become a problem for its parent as well.

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Navitas Solar appoints Hiten Parekh as its Chief Business Officer

Parekh has more than 24 years of diverse experience in India and abroad in different industries including 10 years in the solar sector. He brings with him rich and profound experience and expertise in Business Development and Brand Management to Navitas Solar.

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Oil slumps 15-month low as recession fears mount

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Hero Future Energies to invest Rs 30,000 cr in renewable energy in Andhra Pradesh

The MoU, signed on the sidelines of the Andhra Pradesh Global Investor's Summit 2023, states that Hero Future Energies plans to invest a sum of Rs 30,000 crore to set up RE facilities (Solar & Wind) for C&I (commercial and industrial) customers.

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Opposition parties MPs to march to ED office on Adani issue

The leaders met in the office of leader of opposition in Rajya Sabha Mallikarjun Kharge in Parliament House complex to coordinate their joint strategy on the issue.

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Three companies in fray for Sterlite JV's 2 transmission projects

Sterlite has received bids from three entities - IndiGrid, Torrent Power and Edelweiss Infra Fund - and these bidders are currently engaged in due diligence of the assets.

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GAIL to get LNG shipments from Germany's Sefe after nearly a year

GAIL agreed to a 20-year deal with Gazprom Marketing and Singapore (GMTS) in 2012 for annual purchases of an average of 2.5 million tonnes of LNG. At the time, GMTS was a unit of Gazprom Germania, now called Sefe, but the Russian parent gave up ownership of Sefe after Western sanctions were imposed on Moscow over its invasion of Ukraine last year.

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South Africa's Attacq looks to solar to reduce reliance on diesel

This has harmed retailers such as Shoprite, Woolworths, Pick n Pay and Mr Price, whose recent results showed a dent in sales and rise in operating costs as they crank up diesel generators to power stores.

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India’s opaque purchases of Russian oil emerge as sanctions test

India’s consumption of Russian crude was minimal and sporadic before President Vladimir Putin’s forces attacked Ukraine, but it has soared since, becoming a key tool for Prime Minister Narendra Modi’s bid to fight energy inflation. Yet the structure of India’s oil trade means that the final price it pays includes shipping, insurance and other costs upon arrival at its ports, without a detailed breakdown

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Western countries 'not unhappy' that India is buying Russian oil: Hardeep Puri

India shunned western pressures to raise imports from Russia last year. Russia, whose oil is available at a discount due to some western nations slapping sanctions, is now India's top oil supplier.

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MNRE signed agreements with Australia, Finland, Germany, UAE for promotion of bilateral cooperation in renewable energy

According to an official release, since 2022, the Ministry of New and Renewable Energy has signed the following Memorandums of Understanding/ Joint Declarations of Intent/Letters of Intent.

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Use hydropower units optimally at peak hours: Power Ministry

Hydropower plants can start at any time and, therefore, be used efficiently in the peak hours in the evening when solar and wind generation is less. The Centre assured states of railway rakes supply for coal transport at their power plants in a fair and equitable manner, a senior government official said.

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Western countries 'not unhappy' that India is buying Russian oil: Hardeep Singh Puri

Participating in the Lokmat National Conclave here, Puri said that India as a sovereign country has always exercised the right to source its energy from wherever it can at the most affordable prices. In the last few years, India, the world's third-largest energy consumer, has diversified the source of energy from 27 countries to 39 countries, he said.

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Why water storage is a vital tool in South Asia’s climate change strategy

This article focuses on why the world needs greater investment and prioritization to build, manage, and protect water storage, including hydro power plants.

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Why water storage is a vital tool in South Asia’s climate change strategy

This article focuses on why the world needs greater investment and prioritization to build, manage, and protect water storage, including hydro power plants.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/JLDA8Ci

Reliance, Nayara account for 45% of Russian oil imports

India imported on an average 870,000 barrels of oil per day from Russia in the 12 months through February this year, about 20% of its total crude imports, according to Vortexa.

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IREDA gets Infrastructure Finance Company status from RBI

The Reserve Bank of India (RBI) granted an 'Infrastructure Finance Company (IFC)' status to Indian Renewable Energy Development Agency (IREDA) on Monday, a company statement said.

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Reliance, Nayara account for 45% of Russian oil imports

The dramatic rise in the share of Russia in Indian imports, up from less than 1% in 2021, was driven by the deep discounts at which Russian oil came to be sold following Russia's invasion of Ukraine that prompted several countries led by the US to impose sanctions on Russia.

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IREDA will be an integral part in achieving 500 GW from non-fossil fuel by 2030: CMD

Speaking at a cyclothon event, which was organised by IREDA on Sunday, the CMD stressed the fact that the Miniratna firm, being the largest RE funding agency in the country, stands fully committed towards achieving the 'Panchamrita' targets.

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Experts oppose govt plans of solar power plant at Jayakwadi

Honorary wildlife warden for Chhatrapati Sambhajinagar, Kishor Pathak, said the government should invest its time and energy on meaningful projects instead of contemplating a solar power plant at the Jayakwadi dam.

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Maharashtra govt plans solar-powered agricultural feeders for 12-hour supply

The state government will bring all agricultural electricity feeders under solar energy to meet the pending demand of farmers to provide 12-hour daytime power supply to their farms, deputy chief minister Devendra Fadnavis said on Sunday.

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Canadian investor Brookfield looks to put $1 billion in Avaada

The group was founded by entrepreneur Vineet Mittal in 2017. Avaada Group has built a portfolio of over 4 GW of renewable (solar and wind) energy under flagship Avaada Energy Pvt Ltd.

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Subsidy for green hydrogen production crucial to reduce cost: Rahula Kashyapa, business head - B2B, ReNew

He added that ReNew is currently exploring large scale projects in four Indian states and two projects overseas to produce green hydrogen

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India to ensure no breach on Russia oil purchase sanctions

India had a detailed discussion with the US and other G-7 nations on the sidelines of the Group of 20 nations meeting recently and they seem satisfied with its dealings, one of the people said. India and China have emerged as the top buyers of Russian oil since its war in Ukraine began more than a year ago.

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Oil giant Saudi Aramco has profits of $161 billion in 2022

The oil giant Saudi Aramco announced that it earned a $161 billion profit last year. Higher crude oil prices propelled the profits. The announcement was made on Riyadh's Tadawul stock exchange. In 2021, Aramco declared profits of $110 billion, as compared to $49 billion in 2020 when the world faced the worst of the coronavirus pandemic lockdown, travel disruptions and oil prices briefly going negative.

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TN intensifies vigil to monitor solar fencing along elephant paths

The Tamil Nadu forest department has intensified patrolling along elephant pathways to monitor the solar fences that are illegally erected and with high voltage connectivity.

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

Embassy Office Parks REIT plans to invest over Rs 300 crore to expand its green power

The REIT is aiming to more than double its off-site renewable energy capacity across Bengaluru and the NCR, apart from the current 100 MW solar plant in Karnataka and the ongoing 20 MW solar roof-top project pan-India.

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The ironic side effects of the rapid global energy transition

For all the good intentions, though, the great green energy revolution has had its share of growing pains, including some rather surprising unintended consequences that in some cases may have caused more environmental harm than good.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/bwd4ygL

Power Grid Corporation board approves raising up to Rs 900 crore via bonds

"Power Grid Corporation of India Ltd has been declared as successful bidder under tariff based competitive bidding to establish inter-state transmission system for Transmission System Strengthening Scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II Part-E' on build, own, operate and maintain (BOOM) basis."

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India jostles with China for April ESPO crude from Russia, prices jump

Competition from India has narrowed discounts for April-loading ESPO shipments to about $6.80 a barrel against June ICE Brent DES basis to northern China from $8.50 a barrel last month for March-loading oil, three trading sources said.

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India fastest in renewal energy capacity addition among major economies

India has become the fastest in renewal energy capacity addition among major economies that had added over 100 gigawatts of renewable energy capacity by the end of 2021 with the vision of 500 gigawatts by 2030.

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

India's February fuel demand hits at least 24 year high

Consumption of fuel, a proxy for oil demand, rose by more than 5% to 4.82 million barrels per day (18.5 million tonnes) in February, its 15th consecutive year-on-year rise, data showed.

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Vedanta seeks bids for Rajasthan Natgas

The floor price for the auction has been set at one dollar above the domestic formula gas price of $8.57 per mmBtu. The sales price will be the lower of Platts LNG West India marker or 15% of the average Brent price plus a premium that bidders would quote

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India faces high risks of power cuts after years of coal, hydro power neglect

A rapid addition of solar farms has helped India avert daytime supply gaps, but a shortage of coal-fired and hydropower capacity risks exposing millions to widespread outages at night, government data and internal documents reviewed by Reuters show.

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GQG Partners likely to increase Adani investment, says founder

"Chances are we'll probably buy more because we typically initiate a position and then depending on how things go and how the earnings come through we tend to get it to full size because we're not at full size at this point," Jain said on a call with journalists in Sydney.

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India's booming economy stretches coal and power supplies to limit

Total electricity consumption increased by 13.5 billion kilowatt-hours (kWh) (+12%) in January 2023 compared with January 2022, according to Grid-India's National Load Despatch Centre.

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

CERAWEEK-Big Oil on hydrogen: forget the rainbow, just make it profitable

Hydrogen as a potential alternative to natural gas, coal or oil burned in heavy industry or shipping is seen as key to reducing emissions in industries in which electrificaiton is not practical.

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

Dark summer nights: India faces high risks of power cuts after years of coal, hydro power neglect

The electricity deficits this summer could be worse than expected, as Grid-India's shortage forecasts were made weeks before India's weather office predicted heat waves between March and May.

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

Gujarat's power from renewables less than 2,000 MW this March

In the first six days of March, renewable energy generation in Gujarat remained at just 14% of installed capacity.

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

Why has India's power demand surged?

In 2022, India's power demand grew about 8% - or at nearly double the pace of the Asia Pacific region - to more than 149.7 terawatt-hours (TWh) from the previous year. In the first two months of 2023, demand jumped 10% from a year ago. Industrial and commercial activity account for more than half of India's annual power use while homes account for a fourth.

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India will raise power price cap to let factories keep humming

Indian Energy Exchange Ltd. will offer a new type of electricity with a price cap of 50 rupees ($0.61) a kilowatt-hour for power generated from batteries, gas and imported coal from next week, according to Rohit Bajaj, the head of business development at the nation’s largest electricity platform. That’s more than quadruple the limit on other types of power.

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Government accepts expert panel report on smart electricity transmission system in India

The task force in its report has recommended a bouquet of technological and digital solutions, which can be adopted to make the state transmission grids future ready.

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

Ampelmann opens office in Taiwan to further support and get closer to the local offshore wind market

The new office will be manned by Business Development Manager Ramesh Namasivayam, who will drive the effort to expand the company’s reach in the region, together with the teams based in Singapore and Brunei.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/Lup6yP3

Biden's clean energy factory jobs may elude U.S. union workers

Biden's Inflation Reduction Act (IRA) includes tax credits for businesses that produce clean energy components in the United States, and provides higher credits for developers of renewable energy projects if they use products made domestically.

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After Exxon and Chevron, France's Total signs up for ONGC acreage

ONGC signed a memorandum of understanding (MoU) with TotalEnergies "to establish a holistic framework between the two for exchange of each other's technical strengths in deepwater offshore, especially Mahanadi and Andaman," the state-owned firm said in a tweet.

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CERAWEEK-Petrobras, Equinor to evaluate 7 wind projects offshore brazil

The proposed projects would deliver a combined capacity of 14.5 gigawatts of power if confirmed, Petrobras CEO Jean Paul Prates said at the CERAWeek energy conference in Houston.

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Data centre operators plan edge expansion, say India could be a regional hub

With better connectivity, infrastructure, and reliable power, India could attract more investments from global companies that have been looking at Singapore for their Asia Pacific data centre needs

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/ONQ2dTi

Why has SEBI not yet got to bottom of Mauritius funds holding and trading Adani stock: Raghuram Rajan

Hindenburg Research in a January 24 report accused Adani group of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices. The group has denied all allegations, calling them "malicious", "baseless" and a "calculated attack on India".

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Texas: Wind and solar stake claim to land of oil

Wind and solar projects "have Navarro County leading the nation with renewables," said the county's economic development director, John Boswell.

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Domestic gas cylinder prices up by 56% in 4 years; hefty drop in subsidy

While a recent hike of Rs 50 in the price of the 14.2 kg domestic liquefied petroleum gas (LPG) cylinder led to the cost of the cylinder touching Rs 1,103, data has disclosed that the price has registered a rise of nearly 56 per cent in the last four years.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/oG8XAFZ

India's oil buy from Russia surges, now more than one-third of total imports

India is the world's third-largest crude importer after China and the United States. New Delhi 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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Adani has $2 bn bonds due for repayment in 2024

There are no maturities in 2023 but three issuances - USD 650 million by the ports arm APSEZ and two of renewable energy unit Adani Green Energy Ltd (USD 750 million and and USD 500 million - are due for payment in 2024.

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Solar fence along India-Bhutan border mitigates human-elephant conflict

The barrier, erected on the Indian bank of River Bornadi, which marks the international border, has led to a dip in incidents of wild pachyderms straying into villages and a reduction in deaths due to man-elephant conflict.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/8V7F9Mr

India's oil buy from Russia surges, now more than one-third of total imports

India is the world's third-largest crude importer after China and the United States. New Delhi 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.

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

EESL seeks proposals for mass scale adoption of solar-based induction cookers in India

The overall objective of the project is to provide such solutions to all beneficiaries along with basic induction-based cookware "practically at no cost" by leveraging carbon financing, the EoI stated.

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EESL seeks proposals for mass scale adoption of solar-based induction cookers in India

The overall objective of the project is to provide such solutions to all beneficiaries along with basic induction-based cookware "practically at no cost" by leveraging carbon financing, the EoI stated.

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

Bajaj Electricals bags Rs 565 cr contract from South Bihar Power Distribution Co

The work includes the supply of plant and installation services for the development of distribution infrastructure of electric supply circle Sasaram and Munger of Bihar, it added.

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Windfall gains taxes on crude, ATF and diesel exports revised for 16th time: Reasons explained

from Energy-Industry-Economic Times https://ift.tt/C5xXd9D

Windfall tax hiked marginally to Rs 4400, export duty on ATF scrapped

Exports of petrol will continue to attract nil duly. The new rates will be applicable from March 4. India imposed windfall profit taxes on July 1, 2022, by imposing export duties of ₹6 per litre on petrol and ATF and ₹13 a litre on diesel.

from Energy-Industry-Economic Times https://ift.tt/X5EPVSs

Green energy obligation for coal-based plants notified

"It has been decided that any generating company establishing a coal/lignite-based thermal generating station and having the COD of the project on or after 1stApril 2023 shall be required to establish renewable energy generating capacity of a minimum of 40% of the capacity of a coal/lignite-based thermal generating station," the notification read.

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Power ministry to float tender to buy 4,000 MW gas-based electricity

The ministry will appoint NTPC Vidyut Vyapar Nigam Ltd (NVVN) as the agency to facilitate the purchase from the companies and sale in the market, a senior government official told ET. Any shortfall in realising the cost by NVVN, an NTPC subsidiary, will be met through the Power System Development Fund, the person said.

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Mahanagar Gas to acquire Ashoka Buildcon's city gas arm Unison Enviro

This acquisition will enable MGL, which is a subsidiary of gas major Gail, to expand into these five new markets. Currently it has licence to sell natural gas only in Mumbai metropolitan region and also in the neighbouring Raigad district.

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Biden and EU's von der Leyen to meet amid subsidies dispute

Biden's Inflation Reduction Act (IRA), a $430 billion bill that offers massive subsidies for US-made products and is aimed at addressing the climate crisis and promoting renewable energy, has prompted European anger.

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Adani Green becomes India's largest renewable energy operator

With the successful operationalisation of the 700 MW plant, the world’s largest wind-solar hybrid power plant, AGEL now has the largest operating renewable portfolio in India with 8,024 MW.

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Adani sells stake in 4 cos for Rs 15,446 crore

It sold shares in flagship incubating firm Adani Enterprises Ltd (AEL), port company Adani Ports and Special Economic Zone Ltd (APSEZ), electricity transmitting firm Adani Transmission Ltd (AEL) and renewable energy firm Adani Green Energy Ltd (AGEL).

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Adani Green's operating renewable portfolio reaches record level of 8,024 MW

"With the successful operationalisation of the 700-MW plant, the world's largest wind-solar hybrid power plant, AGEL now has the largest operating renewable portfolio in India with 8,024 MW," it said.

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Power prices expected to remain firm next fiscal amid higher demand: Crisil

The report noted that demand growth weighed in at 7.7 per cent in February and averaged 10 per cent for the 11 months of the current fiscal despite a high base of fiscal 2022 due to extreme weather events and robust industrial and manufacturing activity.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/Ejz1cTM

Opinion: Latin America on track to harness solar power potential: Maguire

The region is constructing over four times the amount of solar capacity being built across Europe, and nearly seven times more than in India, the world's third largest solar producer, data as of January 2023 from Global Energy Monitor (GEM) shows.

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/QklcmA8

Petronas clean energy arm sees India, Australia as key in rapid growth plans

Petronas launched Gentari as a separate entity in June, aiming to build renewable energy capacity of 30-40 gigawatts and produce up to 1.2 million tonnes per year of hydrogen by 2030 in Asia Pacific.

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NCLAT dismisses plea challenging insolvency against Avantha Power

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on August 16, 2021, had admitted an insolvency plea against APIL, over a petition filed by Axis Bank claiming a due of Rs 480.54 crore.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/SD7gxVu

Adani Power to supply nearly 16 pc less power to two Haryana discoms

Adani Power has revised downwards the contracted electricity supply capacity with two discoms of Haryana to 600 MW each from 712 MW each earlier, under supplementary power purchase agreements for its Mundra plant, according to a BSE filing on Wednesday.

from Energy-Industry-Economic Times https://ift.tt/QrflVR4

Biomass market in India is expected to reach Rs 32,000 cr by FY31, says report

There is a growing demand for the supply of clean and reliable power to businesses in India and biomass as a source of energy is expected to play a crucial role in meeting the power demand, the report explained.

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SK Choudhary takes over as Executive Dir & State Head of Indian Oil Bihar & J'Khand

The company in a statement on Tuesday said that during his time at Head Office, Mumbai, he was instrumental in driving the automation and implementing end-to-end automation for fuel delivery at more than 25,000 retail outlets in the country.

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ONGC gets Director for Production as board revamp kicks in

The post of Director (Production) has been created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets such as the prime Mumbai High fields. Pankaj Kumar, Director (Offshore), will be the first Director (Production), Oil and Natural Gas Corporation (ONGC) said in a stock exchange filing.

from Energy-Industry-Economic Times https://ift.tt/8rnNOuH

Petrol, diesel sales surge in February after winter lull

Petrol sales of state-owned fuel retailers jumped 12 per cent to 2.57 million tonne in February, as compared to 2.29 million tonne of consumption in the same period of last year. Sales were 1.57 per cent higher than in COVID-marred February 2021 and 20 per cent more than in the same period of 2020. Month-on-month, the demand was up 13.5 per cent, reversing the dip in the previous month. Sales had fallen 5.1 per cent month-on-month in January as cold conditions cut vehicular movement.

from Energy-Industry-Economic Times https://ift.tt/Jw3pkxG

BP earmarks $2 bln to build Spanish green hydrogen hub

The British company aims to develop a large plant to produce 2 gigawatts (GW) of green hydrogen, which is produced by splitting water using renewable energy, in order to replace polluting hydrogen used to produce fuels at the Castellon refinery.

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