Climate-tech startup Newtrace raises $5.6 million in funding from Sequoia, others

The company said in a statement that it will use the money to drive the expansion of Newtrace’s electrolyser manufacturing and deployment capabilities in India and abroad

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Ajay Yadav appointed as new Managing Director of SECI

He is a 2005 batch IAS officer of the Bihar cadre

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India’s renewable energy capacity addition expected to improve to 20 GW in FY24: ICRA

A scale-up in tendering activity and cost reflective tariffs will be key to achieving the renewable capacity target, ICRA added

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India’s renewable energy capacity addition expected to improve to 20 GW in FY24: ICRA

A scale-up in tendering activity and cost reflective tariffs will be key to achieving the renewable capacity target, ICRA added

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Portugal's first offshore wind auction aims for more than 1 GW

With these projects, Portugal is targeting 10 GW of installed capacity and a total investment of 30-40 billion euros ($33-44 billion) by 2030, though it was not clear how much money the state hopes to recoup from the auction or over what timescale.

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Suzlon Energy Q4 Results: Firm posts net profit of Rs 320 crore against Rs 205.52 crore loss YoY

Total income for the March quarter was down 31 per cent Rs 1700 crore against Rs 2478 crore in the year-ago period. Total income for FY23 was down 9 per cent at Rs 5990 crore.

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Inox Wind bags repeat order of 150 MW from NTPC Renewable Energy

With this, the total orders from NTPC stand at 550 megawatt (MW) awarded till date to Inox Wind, according to a company statement shared with stock exchanges on Tuesday.

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After Reliance-bp, Nayara Energy sells petrol, diesel at Re 1 less than PSUs

Nayara Energy, which owns over 7 per cent of India's 86,925 petrol pumps, is selling petrol and diesel at Re 1 per litre less than that by IOC, BPCL and HPCL in 10 states such as Maharashtra and Rajasthan.

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Renewable Distributed Generation: A strategic policy implication

Future energy security relies on prosumers and smart grid-integrated renewable distributed generation

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Power Finance Corp to boost loans to renewable projects

To achieve the target, the company's disbursements towards renewable energy projects could go up to Rs 3 lakh crore in the next seven years, he said.

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Govt waives ISTS charges on offshore wind, hydrogen, ammonia projects

"This decision has been taken to facilitate wider execution of offshore wind energy initiatives, to promote the expansion of green hydrogen/green ammonia projects and to encourage the offtake of renewable energy from energy storage system projects," it noted.

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Cash-hungry Adani utility shows funding urgency to power India

India’s largest private utility is a key player in Modi’s pledge to provide power to every Indian home. In a media blitz on Monday, it touted itself as capable of “distributing electricity to every corner of the country.”

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Carbon emissions spectrum and the steps to decarbonize the Built Environment

As per the NIUA RMI report, embodied emissions account for 10 per cent of emissions from the building sector and considering the improvements made in operational carbon and the work to be done in embodied carbon, the emission due to embodied carbon could reach as high as 50 per cent.

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District cooling - Driving sustainability efficiency in India

According to ICAP, the energy consumption from building space cooling is estimated to be 135 TWh in 2017-18. In line with projections, this will increase up to fourfold (585 TWh) over the next two decades.

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PM Modi to flag off Assam's first Vande Bharat Express today

The Prime Minister will also dedicate New Bongaigaon--Dudhnoi--Mendipather and Guwahati--Chaparmukh newly electrified sections to the nation. He will further inaugurate the new DEMU/MEMU (workshop for trains) shed at Lumding here.

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From green hydrogen to circular economy, govt goes for sustainable growth

A mere decade ago, climate change was not a matter of grave concern. Considering its profound implications and the impact it has on our daily lives, it has now become a topic of widespread discussion and concern.

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Engineers India eyes non-fossil fuel business, overseas for new phase of growth

Starting in 1965 as an answer to cut reliance on foreign companies for doing engineering and other work for the massive projects that a newly independent nation undertook, EIL is building the country's first biorefinery, which will use bamboo to produce ethanol, and moving into green hydrogen and sustainable aviation fuel.

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Is India on track to achieve 40 GW annual solar capacity addition to meet 2030 target?

As on 28 February 2023, India had a total renewable energy capacity of 169 GW, which included 65 GW solar power

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ONGC sees Rs 248 crore loss in Q4

The earnings were also hurt by the rise in exploration cost write-off, which increased 76 per cent year-on-year to Rs 4,469 crore in the fourth quarter.

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Gautam Solar partners with Jinchen to double solar module capacity to 1 GWp by September 2023

The agreement involves the addition of a high-efficiency automatic solar module production line, which will increase Gautam Solar's total manufacturing capacity to 1 gigawatt peak (GWp).

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Adani Wind Energy Kutchh Five Ltd commissions 130 MW wind power plant in Kutchh

The plant has a 25 year power purchase agreement of 130 MW with Solar Energy Corporation of India (SECI) at Rs. 2.83 per kilowatt hour (kWh).

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

Adani Wind Energy Kutchh Five Ltd commissions 130 MW wind power plant in Kutchh

The plant has a 25 year power purchase agreement of 130 MW with Solar Energy Corporation of India (SECI) at Rs. 2.83 per kilowatt hour (kWh).

from renewable - Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/PLmA0Fx

Lloyd's Register drops ships of top Indian carrier of Russian oil

Classification societies such as Lloyd's Register in London provide services including seaworthiness checks, certification that is vital for securing insurance and entry to ports.

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India, EU should use trade and tech council for stable green energy supplies: Frans Timmermans

On the first day of his two-day crucial diplomatic mission to India to discuss developments on emission reductions and clean energy transition, Timmermans also called for collectively setting a renewable energy generation goal on the international stage.

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USD 300 mn of Indian oil firms stuck in Russia

These include a 49.9 per cent stake in the Vankorneft oil and gas field and another 29.9 per cent in the TAAS-Yuryakh Neftegazodobycha fields. They get dividends on profits made by the operating consortium from selling oil and gas produced from the fields.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/OWU18fs

Suzlon in talks with Deutsche Bank to raise $350 million

The funds raised will be utilised to prepay Suzlon Energy's debt and capital expenditure. It will help the company in meeting early redemption of foreign currency convertible bonds (FCCBs) worth $35,931,200, which were originally due for payment in 2032.

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Suzlon in talks with Deutsche Bank to raise $350 million

The funds raised will be utilised to prepay Suzlon Energy's debt and capital expenditure. It will help the company in meeting early redemption of foreign currency convertible bonds (FCCBs) worth $35,931,200, which were originally due for payment in 2032.

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Sterlite Copper to source hybrid renewable power from Serentica Renewables

As part of its sustainability efforts, Sterlite Copper, a subsidiary of Vedanta Limited, has joined hands with Serentica Renewables India Private Ltd (SRIPL) to establish a special purpose vehicle (SPV) for sourcing hybrid renewable energy.

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India's Adani Group weighs $3 billion investment in Vietnam

The statement came after a meeting in Hanoi on the same day between Vietnamese Prime Minister Pham Minh Chinh and Karan Adani, chief executive officer of Adani Ports and Special Economic Zone, a unit of the cooking oil-to-coal mining conglomerate Adani Group.

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European Commission's climate policy chief on two-day diplomatic mission to India

The EVP for the European Green Deal will hold bilateral meetings with Union Environment Minister Bhupender Yadav; Minister of Power, New and Renewable Energy Raj Kumar Singh, Minister of Coal Prahlad Joshi; and Minister for Petroleum and Natural Gas Hardeep Singh Puri

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China solar panel maker Jinko Solar to sell unit for $622 million

The sale of Jinko Solar's unit in the western region of Xinjiang to Ziyang Major Industry Equity Investment Fund is pending an antitrust review by China's State Administration for Market Regulation

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Suzlon bags 300 MW wind energy project from Torrent Power

"Suzlon Group has bagged a significantly large order for its new 3 MW series of wind turbines to develop a 300 MW wind power project for Torrent Power," a statement said.

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China prioritising Turkmenistan over Russia in next big pipeline project

Beijing is keen to bolster Central Asia ties under its Belt & Road Initiative, but nearly a decade after construction began, the "Line D" project has been hobbled by complex price talks and the technical hurdles of laying a pipeline crossing another three central Asian nations, Chinese state oil officials said.

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India proposes talks on international norms for 'green, clean & low-carbon' hydrogen

Initially, the proposal was only for 'green hydrogen' but 'clean and low carbon' consideration was also included after the suggestions of some member countries, people in the know of the matter told ET.

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Oil Ministry working on proposal to merge MRPL with HPCL

The idea of the MRPL-HPCL merger had been floated soon after ONGC acquired HPCL from the government five years ago but made little progress. The ministry is now pushing for the merger, which is likely to be a share-swap deal, said the people cited above.

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As India's electrical grid strains, rural hospitals and clinics find reliable power in rooftop solar

In semi-urban and rural regions of India and other developing countries with unreliable power grids, decentralized renewable energy - especially solar - is making all the difference in delivering modern health care.

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Oil Ministry working on proposal to merge MRPL with HPCL

The idea of the MRPL-HPCL merger had been floated soon after ONGC acquired HPCL from the government five years ago but made little progress. The ministry is now pushing for the merger, which is likely to be a share-swap deal, said the people cited above.

from Energy-Industry-Economic Times https://ift.tt/nI4dkgx

NTPC begins work at its hydrogen hub in Andhra Pradesh

A non-binding MoU has been signed with the Government of Andhra Pradesh for development of a hydrogen hub near Visakhapatnam

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We are talking to investors to raise more funds: Sheetanshu Tyagi, EMO energy

In an interaction with ETEnergyworld, Sheetanshu Tyagi, Founder, EMO energy, shares why the funding matters and what are the company's growth plans.

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OVL gets extension for five projects

Some of the projects for which ONGC Videsh has received an extension have already started production. An extension means an increased probability of making new discoveries in the exploration acreages.

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Gujarat: Industry strides to clean energy

Favourable policies, incentives, cost savings and abundant solar resources are the key forces enabling investment in this sector in Gujarat. The state is witnessing significant growth in solar energy use by industries such as textiles, chemicals and engineering.

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Power prices feel the heat on high demand; plants have enough coal

Lower-than-expected temperatures in early summer and preparedness for projected peak demand of around 231 GW helped in maintaining sufficient capacities for any increase in power demand. "Many state discoms have started meeting a major portion of their expected demand through e-reverse auction and many other monthly and weekly contracts available on exchanges," said Naveen Singh, head of business development at Hindustan Power Exchange.

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

Adani Power, officials flouted Companies Act: Registrar of Companies

The adjudicating officer imposed a penalty of ₹75,000 each on Gautam Adani, chairman and director Adani Power, Rajesh Shantilal Adani, managing director, and Vineet S Jain, whole-time director.

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BPCL agrees to match Brazilian companies' bids for two VOVL Oil assets

Lenders of VOVL, which is undergoing corporate insolvency, will start to vote on the BPCL plan on Monday, the people said. Most lenders are likely to vote in favour of BPCL's plan, one of the persons cited above said.

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View: Adani probe will only produce heat, not light

A year-and-a-half before a New York-based short-seller put the spotlight on a couple of them and their alleged connections with the founders of the Ahmedabad, Gujarat-based conglomerate, India’s government had announced most of these names in parliament in response to a lawmaker’s question.

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OPINION: Sustainability in the logistics industry - A perspective

The sheer size and scope of the logistics sector demands that it becomes as sustainable as possible because not only would such a transition reduce emissions considerably, it would make the sector more profitable and create a more harmonious workforce.

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Energy transition and diversification of critical minerals supply

While the raison d'être for RE in energy scenario of yore was diversification of energy basket, a quarter of century later, the ongoing energy transition and NZE journey necessitates well diversified supplies of critical minerals.

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

Adani Power, officials flouted Companies Act: Registrar of Companies

The adjudicating officer imposed a penalty of ₹75,000 each on Gautam Adani, chairman and director Adani Power, Rajesh Shantilal Adani, managing director, and Vineet S Jain, whole-time director. "The company has made adequate disclosures in the Financial Statements for FYs 2017-18, 2018-19 and 2019-20. All the related-party transactions were entered at arms' length basis and in ordinary course of business and thus, not covered under the provisions of Section 188 of the Companies Act, 2013," the company's spokesperson said.

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Crippling heat waves deepen Asia’s reliance on Russian energy

What began as a push from the Kremlin to fund its invasion of Ukraine has now turned into a pull from Asian economies anxious about making sure their power generators are supplied with enough fuel in what could be the hottest year on record.

from Energy-Industry-Economic Times https://ift.tt/Wi3yZnY

Discoms' dues down by a third to Rs 93,000 crore in less than a year of enforcing Late Payment Surcharge Rule

The outstanding dues of electricity distribution utilities (discoms) have decreased by one-third to around Rs 93,000 crore in less than a year since the implementation of the Late Payment Surcharge (LPS) Rules in June 2022. The LPS scheme has led to financial discipline among discoms, ensuring that outstanding dues and current bills are paid in time. Strict implementation of the LPS Rules can make the power sector more viable, and non-payment of current dues can result in the regulation of power supply. The power ministry has also made it mandatory for discoms to open credit letters or make timely payments for power supply to ensure financial discipline.

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

India regulator 'draws a blank' in foreign links probe into Adani -report

The coal-to-airports conglomerate controlled by billionaire Gautam Adani lost more than $100 billion in market value earlier this year after US-based Hindenburg Research raised several governance concerns. The group has denied wrongdoing.

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NTPC net profit falls over 6 pc to Rs 4,871 cr in Mar qtr

The company's total income company increased to Rs 1,77,977.17 crore in 2022-23 from Rs 1,34,994.31 crore in 2021-22.

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LNG deal: GAIL seeks damages from Gazprom

GAIL India is seeking compensation from Gazprom Marketing and Trading Singapore after the latter reneged on a commitment to supply fully contracted liquified natural gas (LNG) last year. GAIL Chairman SK Gupta has said the company has filed for arbitration in London, stating, “We have nominated our arbitrator. We are pressing for specific performance (of the contract) and to claim damages”. Though supplies have resumed with GAIL receiving the contracted quantity, it has decided to pursue legal action.

from Energy-Industry-Economic Times https://ift.tt/3geNk7P

Government plans to 'float' offshore oil blocks-cum-wind farms

The contours of the idea are in the works and initial discussion with the stakeholders has been positive, the officials added.

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Credit Suisse says won’t accept Adani bonds as collateral

The combined market value slump at the group’s 10 listed stocks now exceeds $90 billion since the Hindenburg report was released a week back on the 24 January leading to the billionaire also losing his title as Asia's richest person.

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Adani Group plans independent probe into Hindenburg allegations

In similar statements, group firms Adani Ports and Special Economic Zone (APSEZ) and Ambuja Cements on Tuesday said they also are considering the appointment of an independent firm for evaluation of issues relating to legal compliance, related party transactions, and internal controls.

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JP Morgan releases report drawing roadmap for 3.5 crore `green’ jobs in India by 2047

The study "Gearing Up the Workforce for a Green Economy" was undertaken by the Skills Council for Green Jobs and Sattva Consulting, with support from J.P. Morgan.

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Centre offers subsidy to make ships that deploy offshore wind projects and subsea cables

Under the Rs 4000 crore Shipbuilding Financial Assistance (SBFA), financial assistance up to 20% of the Contract Price or the Fair Price (whichever is lower) is extended to Indian Shipyards for each specialised vessel built by them.

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REC plans to increase loan book by two-fold to Rs 10 lakh crore by 2030

The non-banking financing company would expand its loan book under its renewable energy portfolio to ₹2.4 lakh crore by FY30 to achieve this target.

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SKS Power's lenders to seek more time to seal resolution

The resolution process timeline, which was initiated in April 2022, ends on May 25 after taking into account the various procedural delays. But banks will petition the National Company Law Tribunal (NCLT) as soon as Friday to extend the timeline by at least 15 days to ensure enough time for voting.

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

Government to issue notices to debar more companies found violating FAME-II norms: Official

"We have received reports that some other companies have also violated the FAME-II guidelines. We will be issuing them notices similar to the notices issued to two firms found to be violating the localisation norms earlier," said the official, requesting anonymity.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/ztPn5j7

GAIL shuts Ratnagiri LNG terminal till September, cuts imports: Sources

GAIL annually shuts the plant in the western Maharashtra state during monsoon season as rain and high tides make operations difficult without a breakwater. However, a breakwater is expected to be ready next year that would obviate the need to shut the terminal during monsoons, one of the sources said.

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

Submit report on Adani-Hindenburg probe by August 14, SC tells SEBI

The apex court on Monday adjourned the hearing on the SEBI plea seeking a six-month extension to conclude the investigation in the Hindenburg Research's report.

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Jaishankar questions EU's pretensions on Russian oil

Addressing the press after the maiden Trade and Technology Council meeting in Brussels on Tuesday, Jaishankar said: "Look at EU Council regulations, Russian crude is substantially transformed in third country and not treated as Russian any more. I would urge you to look at Council's Regulation 833/2014".

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/z9ZpJeS

India's G20 Presidency, an opportunity for offshore wind nations, business, financial institution says B S Bhalla

The event brought saw a gathering of government representatives, financial institutions and senior domestic and international industry representatives.

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E-bus suppliers may get central support if states fail to pay up

The move comes after key private players remained lukewarm to a ₹5,000-crore supply contract floated by Convergence Energy Services Limited (CESL), a subsidiary of state-owned Energy Efficiency Services Limited (EESL).

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/kQ6Dgm2

Rosneft sends JV feelers to PSU refiners for India unit

The Russian firm is understood to have held preliminary discussions with Indian government officials and executives at state-run refiners regarding a new project in India, the people said. This will be separate from the Gujarat refinery that Rosneft-backed Nayara Energy operates.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/j5GqvRc

Himachal to frame new energy policy: Chief Minister

"Efforts would be made to increase the state's share in those projects which have recovered its cost, for which correspondence would be initiated with the central government and other PSUs," said Sukhu.

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PESB recommends no one for IOC top job

This is the second instance in recent months where PESB did not find a suitable candidate for the top job at blue chip oil companies. On June 3, 2021, it did not find anyone suitable from nine candidates, including two serving IAS officers, to head ONGC.

from Top Energy News | Latest Energy Industry Information and Updates: ET EnergyWorld : ETEnergyworld.com https://ift.tt/f7cAEtX

Rosneft sends JV feelers to PSU refiners for India unit

Russian energy company Rosneft is reportedly looking to develop a greenfield refinery in India in partnership with state-owned local refiners. India's state-run refiners are pursuing a new project as they scale-down plans for a proposed $44bn refinery on the country's west coast. Rosneft is understood to have had preliminary conversations with officials from state-run refiners and the Indian government regarding the new project, which would be separate from its current Gujarat refinery operation. It is unclear which local refiner will partner Rosneft but Indian Oil and Bharat Petroleum Corp Ltd. could be amongst potential candidates.

from Energy-Industry-Economic Times https://ift.tt/aq7BCnN

Government extends deadline for bid submission in eighth round of oilfield auctions to July 5

The government has extended the deadline for bid submission in the eighth round of oilfield auctions to July 5, according to a notification by the Directorate General of Hydrocarbons (DGH). This is yet another extension for the auction, which was launched on July 7 last year.

from Energy-Industry-Economic Times https://ift.tt/MoxQPs3

IIFCL profit doubles to highest ever of Rs 1,076 cr in FY23

The company recorded the highest ever profit, recovery, sanction and disbursement furthering turnaround performance that began three years ago, IIFCL managing director PR Jaishankar said while announcing annual financial numbers.

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Proposed change to forest law will boost oil exploration

In March, the government introduced The Forest (Conservation) Amendment Bill in Lok Sabha, which aims to exempt certain categories of land from the purview of the current law and widen the list of activities that could be carried out on forest land.

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

FinMin stands by 2021 Parliamentary reply that SEBI was investigating Adani Group

"The government stands by its reply in Lok Sabha on 19th July 2021 to Q. No. 72, which was based on due diligence and inputs from all concerned agencies," the Finance Ministry tweeted.

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Proposed change to forest law will boost oil exploration

India's hydrocarbon exploration could be boosted by a proposal to amend the forest conservation law.The Forest (Conservation) Amendment Bill envisages seismic surveys would not be treated as a non-forest activity but explorers would be granted prompt access to forests, cutting time-consuming permit seeking. A seismic survey is the initial stage to determine evidence of economically viable hydrocarbon resources below the ground.

from Energy-Industry-Economic Times https://ift.tt/BTFZ9Ue

India cuts windfall tax on petroleum crude to zero

In early may, the govt had slashed windfall tax on domestically produced crude oil to ₹4,100 per tonne from ₹6,400 per tonne.

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

HPCL's financial prospects set to brighten up over 12-18 months: Report

The company reported a Profit After Tax (PAT) of Rs 32.2 billion for the fourth quarter ended March 2023, up 80 per cent year-on-year.

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

Charged Up: Luxury auto companies are set to drive in more EVs in FY24

Out of the 48 passenger vehicle launches scheduled for the year through March 2024, as many as 11 are electric luxury vehicles - the highest in a fiscal year so far - with the likes of Mercedes-Benz, BMW, Lexus, Audi and Volvo lining up models from their global portfolio for launch in India.

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ONGC arm raises $500m in foreign currency loan

The syndicated loan, denominated in dollars and with a tenure of five years, is backed by ONGC's guarantee and benchmarked to three-month term secured overnight financing rate (SOFR), they said.

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Govt aims at bringing Rs 20,000 cr investment, creating industry-friendly environment: CM

The government is aiming to bring an investment of about Rs. 20,000 crore in manufacturing, tourism, energy, construction and housing with the potential of providing direct employment to about 40,000 persons and indirect employment to about 50,000, he said in a statement here.

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ONGC arm raises $500m in foreign currency loan

ONGC Videsh has drawn the facility and used the funds to repay $500 million in bonds that matured last week. The company had raised $800 million in bonds to meet its financing needs for the ACG project in Azerbaijan in 2013. Bonds worth $300 million with a tenure of five years matured in 2018 while the balance of $500 million with a tenure of 10 years has matured now.

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Power ministry panel outlines roadmap to develop electricity market

A power ministry-constituted panel has suggested a roadmap outlining the interventions for the near, medium, and long term for the development of the electricity market.

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ONGC scraps bids for flagship Daman gas field development over cost concerns

Engineering and fabrication contractor Larsen & Toubro (L&T) emerged as the lowest bidder when the bids were opened in December last year. It quoted a cost of USD 663.77 million to build the infrastructure needed to ramp up production from the field that lies about 60 kilometers off the west coast.

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Have commenced dispensing CNG and PNG connections to households: IndianOil

CNG and PNG are almost 30 per cent cheaper than alternate fuels and considered "very safe", he said.

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India's Hindustan Petroleum posts biggest jump in quarterly profit in 9 years

Net profit for the fourth quarter ended March 31 jumped about 80% to 32.23 billion rupees ($394.1 million) from 17.95 billion rupees a year earlier, according to a stock exchange filing.

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Himachal Pradesh to be richest state in 10 years: Sukhvinder Singh Sukhu

After leading Congress to victory in Shimla municipal polls after a gap of 11 years recently, the 4-time MLA talks about his vision to make Himachal Pradesh the richest state in 10 years in an interview with ET.

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Green Hydrogen adoption in India – Opportunities, challenges and the way ahead

Green Hydrogen (GH2) should be viewed as a complement to other alternative energy sources rather than a standalone solution.

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ADNOC Distribution to install solar panels on service stations

In line with the company's broader sustainability plan, solar energy is just one of many ways ADNOC Distribution has committed to decarbonisation as part of its aim to reduce its carbon intensity by 25 per cent by 2030.

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Power, environment ministries to develop carbon credit trading scheme for decarbonisation

The Bureau of Energy Efficiency under the Ministry of Power along with Ministry of Environment, Forest & Climate Change are developing the Carbon Credit Trading Scheme.

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Savannah Energy and Niger sign 200 MW solar power plant agreement

The plants will generate affordable energy, increase grid-connected power generation by more than 20% and avoid an estimated 260,000 tonnes of annual carbon emissions, Savannah said in a statement.

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ONGC discovers oil, gas in Arabian Sea blocks

The discoveries, which have been named 'Amrit' and 'Moonga', were made in the blocks that the company won in recent open acreage licensing rounds.

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Sitharaman seeks greater investment from Japan

Sitharaman further apprised investors and business leaders of India's specific focus on Artificial Intelligence with proposed Centres of Excellence which will benefit not just the present but the future generations as well.

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Mubadala, others eye stake in I Squared's India gas business

I Squared, a US private equity firm focused on infrastructure investments, is present in the city gas distribution business in India through Think Gas Distribution and AG&P Pratham. The former also operates over 80 CNG stations.

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‘Solar City’ project starts in Amritsar; 74 govt bldgs to get rooftop solar systems

Punjab new and renewable energy sources department launched the decision support tool (DST) along with the Amritsar Smart City Portal, and Renewable Purchase Obligations (RPO) portal for Punjab.

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Adani-Hindenburg row: SC to hear matter on May 12, may consider SEBI plea for extension of time to complete probe

The apex court had on March 2 asked SEBI to probe within two months these allegations and had also set up a panel to look at providing protection to Indian investors after a damning report by US short seller Hindenburg wiped out more than USD 140 billion of the Indian conglomerate's market value.

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Mauritius minister debunks Hindenburg report on Adani Group

According to Mauritian law, the minister said a company from overseas needs to carry out its core income-generating activities in, or from, Mauritius, as required under the Income Tax Act.

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Supreme Court to hear pleas on Adani-Hindenburg row on May 12

The top court had also set up a panel to look at providing protection to Indian investors after a damning report by US short seller Hindenburg wiped out more than $140 billion of the Indian conglomerate's market value.

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Supreme Court to hear pleas on Adani-Hindenburg row on May 12

The top court had also set up a panel to look at providing protection to Indian investors after a damning report by US short seller Hindenburg wiped out more than $140 billion of the Indian conglomerate's market value.

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Coal India expects to conclude wage agreement within a month

In a statement, CIL said, "It is hoping to conclude the eleventh version of the national coal wage agreement (NCWA-XI), within a month, benefitting its 2.38 lakh strong non-executive manpower. The next round of talks is scheduled on May 19, 2023."

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Kejriwal approves draft policy for regulating cab aggregators, delivery service providers in Delhi

A draft of the scheme has now been sent to the lieutenant governor. It will then be put up for public feedback and comments by the transport department before being given the final shape, according to an official statement.

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Supreme Court upholds ₹278-crore award in Reliance Infra's favour

Anil Ambani's Reliance Infrastructure has won a ₹278 crore (~$38.8 million) arbitral award against the Goa government in a dispute related to non-payment of electricity dues. The Supreme Court has upheld the award, setting aside the Bombay High Court's partial quashing of it. The High Court has been criticized for reducing the interest rates on the award, which was given to Reliance Infrastructure after disputes over pricing.

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Jobs: TP Solar organizes virtual walk-in interview drive for recruitment

The last date to submit applications is May 12, 2023. TP Solar Limited will shortlist applicants based on the submitted information and notify the eligible candidates.

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Jobs: TP Solar organizes virtual walk-in interview drive for recruitment

The last date to submit applications is May 12, 2023. TP Solar Limited will shortlist applicants based on the submitted information and notify the eligible candidates.

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Petroleum Ministry committee recommends solutions for clean energy transition

The report titled 'The Green Shift' recommended use of Methanol and Ethanol as cooking and added they must be popularized by introducing user-friendly products.

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ONGC to get dividends instead of oil from Russia's Sakhalin-1 field

Until a little after the beginning of the Ukraine war last year, ONGC, which has a 20 per cent participating interest in Sakhalin-1, used to get a proportionate share of oil from the field, which it could sell to anyone.

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India seeks exemptions for MSMEs from EU's carbon tax: Sources

From October, domestic companies from seven carbon-intensive sectors -- including steel, cement, fertiliser, aluminium and hydrocarbon products -- would have to seek compliance certificates from the EU authorities to comply with the CBAM norms.

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India taking various measures to encourage energy transition: BEE DG Abhay Bakre

BEE, under the ministry of power, promotes the use of energy-efficient processes, equipment, devices and systems. It takes various steps to encourage preferential treatment for the use of energy-efficient equipment or appliances.

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YES BANK launches solar financing programme to aid MSMEs

The Bank has forged collaborations with OEMs and companies who offer solar solutions to support adoption of sustainable energy practices by MSMEs

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India's April diesel sales soar, overall fuel consumption eases

Gasoil, or diesel, accounts for about two-fifths of refined fuel consumption in India and is directly linked to industrial activity. India's factory activity expanded at its quickest pace in more than four months in April.

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South African companies innovate to tackle solar power inequality

Blackouts intended to take pressure off the ailing power grid run by struggling state utility Eskom have worsened again since early 2022 - leaving South Africans without electricity for up to 10 hours each day, and hindering charities like CTSB.

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Essar Oil & Gas invests in microbial technology to boost CBM production

The unconventional hydrocarbon player said in a statement it has collaborated with The Energy & Resources Institute (TERI) and ONGC Energy Centre (OEC) to establish the potential of eCBM Microbial technology in the Raniganj-East Block of the company.

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How to use solar power to reduce your electricity bill

Note down the gadgets and appliances you use every day, such as TV, AC, fridge, geyser, lights, iron, etc, and how long you use them. Then calculate the watt-hour (Wh) by multiplying their run time with their power rating.

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Energy PSUs eye 38,000 tonnes per annum green hydrogen capacity

India is placing a big thrust on green hydrogen in its energy transition plan. It aims to develop green hydrogen production capacity of at least 5 million metric tonnes per annum by 2030, which would involve an investment of ₹8 lakh crore.

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Renewable energy: Why there is an urgent need for collective ownership

The centre may have to act much more proactively with the state-level stakeholders bringing about a sense of ownership among all, rather than these critical goals being viewed only as apex-level commitments.

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Renewable energy: Why there is an urgent need for collective ownership

The centre may have to act much more proactively with the state-level stakeholders bringing about a sense of ownership among all, rather than these critical goals being viewed only as apex-level commitments.

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Biju Patnaik Airport inaugurates 4 MWp solar plants, switches to renewable energy

As per the airport authority, Bhubaneswar airport has installed a 4MWp solar power plant in the operational area which includes 10530 PV modules of 380W each.

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Coal India's Q4 profit falls 17% on higher provisions for wage hike

Consolidated net profit fell to 55.33 billion Indian rupees ($677.07 million) in the three-months ending March 31, compared with 66.93 billion rupees a year earlier, the state-run company said in an exchange filing.

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PTC India inks pact for 115 MW power supply from VS Lignite Power

The company is presently selling power to various discoms (power distribution companies) through short- term power sale agreements.

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Increasing compressed biogas share in total gas mix can reduce annual import bill by $25 bn by 2030: IBA

The industry body suggested gradually increasing the share of compressed biogas (CBG) in the overall gas mix to at least 10 per cent by 2025 and to 20 per cent in 2030.

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Hydrogen to play critical role in India's energy transition: DG International Solar Alliance

The absence of hydrogen refuelling infrastructure remains a major hurdle, he said, adding that the current infrastructure for moving petrol or diesel could be used for selling hydrogen.

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India's nuclear power industry may be opened to foreign investments

The measures have been recommended by a government panel, set up by think-tank Niti Aayog which is headed by Prime Minister Narendra Modi.

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ACME, IGL ink initial pact to explore biz avenues in Green Hydrogen

The memorandum of understanding (MoU) was signed by Ashwani Dudeja (President & Director - Green Hydrogen and Ammonia, ACME) and Sanjeev Kumar Bhatia (Vice President - Business Development & Gas Sourcing, IGL), it added.

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ACME, IGL sign MoU to jointly supply green hydrogen and set up infra

The companies will work jointly to promote the adoption by the customers and create demand for green hydrogen in the country

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Central Electricity Authority revises down FY30 peak power demand projection a tad

An additional 16,204.5 mw of coal-based power will be required to meet the electricity demand in 2029-30 apart from the 26,900 mw currently under construction.

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ACME, IGL sign MoU to jointly supply green hydrogen and set up infra

The companies will work jointly to promote the adoption by the customers and create demand for green hydrogen in the country

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Monetary measures too to push green finance: RBI report

The Reserve Bank cites the example of The Bank of Japan where it provides one-year loan at 0 per cent interest matching the investment or loans by banks in projects that contribute to address climate change.

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Charging infrastructure important for transition to EVs

Bakre also emphasised the need to generate public awareness for the adoption of EVs for various purposes. Electric vehicles (EVs) will play a major role in the future of transportation. In India, EV sales more than tripled to 10.54 lakh units in 2022.

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Central Electricity Authority revises down FY30 peak power demand projection a tad

The reassessment was seen as necessary after pandemic-related delays in some projects, India's updated nationally determined contributions under the Paris Agreement, change in the cost trajectory of battery energy storage systems, and green hydrogen production, among others.

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Bhutan, Bitdeer plan $500 million green crypto fund

Huge amounts of electricity are needed to power the vast computer farms that mine for cryptocurrency, leading to heavy criticism of their impact on the climate and a search for greener mining options.

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Senators back solar tariffs, oppose prairie bird safeguards

Lawmakers also approved a separate plan to undo federal protections for the lesser prairie chicken, a rare grouse that's found in parts of the Midwest and Southwest, including one of the country's most prolific oil and gas fields.

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India's top gas importer Petronet sees 'huge jump' in demand as prices ease

Indian gas demand is already showing signs of recovery after global LNG prices fell to about $11 per million British thermal units in Asian markets.

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Auditor named in Hindenburg report resigns from Adani company

Hindenburg Research in its January 24 report that levelled allegations of fraud, stock manipulation and money laundering against the Adani group, had also raised the issue of the size and capability of the firms auditing the conglomerate.

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SJVN to set up 200 MW solar power project worth Rs 1,200 crore in Gujarat

Bagged at a tariff of Rs 2.88 per unit, the project will be set on Build Own and Operate (BOO) basis. The tentative cost for development of this project shall be approximately Rs 1,200 crore.

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India's oil imports from Russia seen peaking in May amid China competition

Russia remained the leading crude supplier to India in April, increasing its market share to 36%, up from 33.8% in March. However, Russia's increase in crude oil imports in recent months has slowed significantly, rising by just 4% in March. Analysts suggest that competition from China for Urals crude, a deeply discounted oil, could limit the future upside of Russia’s imports.

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Solar Ladder raises Rs 11 crore in seed funding round

The funds will be used to distribute software that automates processes for solar installers and to become the go-to ecosystem for solar installation companies

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Government approves Rs 687 cr for upgradation of power distribution infrastructure in Ladakh

The central government has given its approval for the implementation of Revamped Distribution Sector Scheme (RDSS) in the Union Territory of Ladakh with a sanctioned cost of Rs 687.05 crore, officials said. The ministry of power conveyed its approval to RDSS for implementation in Ladakh, they said.

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Transition VC onboards Anuj Khanna as Limited Partner

In 2022, Transition VC launched India’s first Energy Transition-focused fund with a target corpus of Rs 400 crore

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Companies delaying green energy projects won't get relief in commissioning

As per the ministry's latest communication, developers will be allowed more time only if they have taken all possible measures to implement the projects. Projects that have not started land acquisition or placed orders for modules will not be given any relief.

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Reliance, Adani, Vedanta among companies in race for Bhadreshwar Vidyut

Resolutions of both SKS Power and Lanco Amarkantak are yet to be concluded. Both Reliance and the Adani Group had also submitted expressions of interest for Future Retail, which was admitted for insolvency last year.

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Reliance, Adani, Vedanta among companies in race for Bhadreshwar Vidyut

This is the third bankrupt power producer for which two of the country's largest corporate houses - Reliance Industries and the Adani Group - have shown interest. They had earlier offered resolution plans for SKS Power and Lanco Amarkantak Power, but both conglomerates did not aggressively pursue the bids, one of the persons cited above said.

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Monsoon management plan in works to ensure coal at power plants

Under the plan, coal companies will focus on evacuating coal through first-mile connectivity, deliver more from shallow areas, and develop cemented roads for movement of trucks, coal secretary Amrit Lal Meena told ET. "With these, we are hopeful that the availability of coal at power plants will be sufficient and on target," he said.

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Suzlon bags 69.3MW wind energy project from Juniper Green Energy

"Suzlon Group today announced the second order of the 3 MW product series for the development of a 69.3 MW wind power project for Juniper Green Energy Private Limited," it stated.

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NTPC, NPCIL ink pact for joint development of nuclear power plants

The joint venture company will initially develop two Pressurised Heavy-Water Reactor (PHWR) projects, Chutka Madhya Pradesh Atomic Power Project 2x700 MW and Mahi Banswara Rajasthan Atomic Power Project 4x700 MW, which were identified as a part of fleet mode nuclear projects.

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Adani Green Energy net profit up 4-fold to Rs 507 cr in March quarter

The consolidated net profit of the company was Rs 121 crore in the quarter ended on March 31, 2022, a BSE filing stated. Total income of the company rose to Rs 2,988 crore in the quarter from Rs 1,587 crore in the same period a year ago.

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Govt may mull equity infusion after 3 oil marketing companies list capex plans

The OMCs, on their part, are concerned that the equity infusion proposal could impact their share prices, market valuation and market perception.

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Serentica Renewables receives $250 million investment from KKR

The company plans to use the funds to install 4,000MW of renewable energy capacity that will help deliver clean energy to large-scale industrial customers.

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What is driving the historic growth in India's rooftop solar power sector?

According to the latest data released by the ministry, 8,877-MW rooftop solar capacity was added as on 31 March 2023 as against 7,520 MW as on 30 September 2022

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