Page 2 - Energy Sector

Ratan Tata-backed Repos expects to grow three-fold this fiscal to Rs 185 cr

Ratan Tata-backed energy distribution startup Repos is expected to grow by close to three-fold to Rs 185 crore in the current fiscal on account of increased traction for its service among business-to-business clients, a top official of the firm said. Repos Energy founder and CVO Aditi Bhosale Walunj told PTI at the Auto Expo 2023 that the company is in the process of raising Rs 300 crore to fund expansion of business across India as well as a platform to offer carbon-neutral fuels such as ethanol and electric vehicle chargers. "We have been fortunate enough to have Mr Ratan Tata as our initial investor. Last fiscal year we did business of Rs 65 crore. Our business has been growing multifold. This fiscal we expect our top line to be around Rs 185 crore," Walunj said. She said that the company's fuel distribution platform is mainly built around the delivery of diesel but it is now adding new fuels to the platforms to make it available at the doorsteps of end consumers with the help of

NTPC starts India's first green hydrogen blending operation in PNG network

State-owned power giant NTPC on Tuesday said it has started India's first green hydrogen blending operation in the PNG (piped natural gas) network of its township in Kawas, Surat. "The project is a joint effort of NTPC and Gujarat Gas Limited (GGL). The first molecule of green hydrogen from the project was set in motion by P Ram Prasad, Head of Project, Kawas, in presence of other senior executives of NTPC Kawas and GGL," a company statement said. The green hydrogen blending has been started in the piped natural gas (PNG) network of NTPC Kawas township in Surat, it added. After the start of the blending operation, NTPC Kawas held awareness workshops for township residents with the help of GGL officials. NTPC and GGL have worked relentlessly towards achieving this milestone in record time after the foundation stone laying by the Prime Minister on July 30, 2022. This set-up is geared up to supply H2- NG (natural gas) to households of Kawas township at Adityanagar, Surat. Green hydro

Why India needs to build a robust framework to facilitate energy transition

The investment buzz for the transition has begun but policy frameworks still lag the process

India got $13 bn FDI in non-conventional energy sector in 22 years: Govt

Domestic non-conventional energy sector has received over USD 13 billion through Foreign Direct Investment (FDI) route in the last 22 years, Parliament was informed on Tuesday. FDI, up to 100 per cent, is permissible through automatic route for the promotion of solar power generation in the country, Minister for New and Renewable Energy (MNRE) R K Singh informed the Rajya Sabha. Non-conventional sources of energy includes solar, wind and other renewable sources. Sharing the country-wise details of FDI/ equity inflow during the period April, 2000 to September, 2022, he said, India received USD 13.034 billion as offshore investment. The top contributor is Mauritius, followed by the United Kingdom, Singapore, Netherland and UAE, the minister said.

Uttar Pradesh sets a target of Rs 40,000 cr investments in energy sector

The steep proliferation in the state energy demand is attributed to the projected setting up of new industries and manufacturing plants over the next five years

Airbus looking at India, Aus, Latin America for green hydrogen supplies

European aerospace major Airbus is looking to source green hydrogen from markets like India, Australia and Latin America as part of its decarbonisation efforts, a senior company official said. Airbus is currently developing a hydrogen-powered fuel cell engine for its ambitious zero-emission aircraft that will enter service by 2035. It has also signed a partnership agreement with HyPort to set up a low-carbon hydrogen production and distribution station at the Toulouse-Blagnac airport in France. The cost of renewable energy production in India and Latin America, among others, make them attractive as potential supply hubs, Glenn Llewellyn, VP Zero-Emission Aircraft at Airbus, said. "One of the key activities that are underway at Airbus is to make sure that when we have a hydrogen aircraft available, we also have green hydrogen at airports. So, we are doing a lot of work with different airports and energy providers all across the world to make sure that green hydrogen is available at t

India-G7 JETP stuck over coal, Centre's insistence on own transition plan

RE, tech transfer & green jobs on India's agenda, Germany & the US to co-lead the negotiations

Tech Mahindra signs MoU with Egyptian agency for delivery centre in Cairo

Facility will serve firm's clients across telecom, oil & gas, BFSI, Energy & Utilities and public sector; company to hire 1,000 staff to serve global and local customers from centre

Day 1: IIT Guwahati bags highest foreign job offer of Rs 2.4 crore

A total of 25 offers with pay packages in excess of Rs one crore per annum were extended at the end of Session 1.1 on Day One of the recruitment process at IIT Madras

Tube Investments of India acquires 50% stake in X2Fuels and Energy

The acquisition would be by subscribing to 10,753 equity shares for a total consideration of Rs 6.15 crore

Installed power capacity in India doubled in last 10 years: RBI Data

Maharashtra has the highest installed capacity of power of 43,466 MW followed by 42,208 in Gujarat, RBI's 'Handbook Of Statistics On Indian States' showed

Railways eyes Rs 94k cr coal connecting projects as part of Energy Corridor

National transporter targets FY24 to close critical project pipeline

China signs one of its biggest ever LNG deal with Qatar at $60 billion

Qatar Energy will send Sinopec 4 million tons of LNG a year starting in 2026, the state-controlled companies announced in a virtual ceremony on Monday

Nearly 90% Finns take energy-saving measures due to rising prices: Survey

Almost half of the respondents said they would shortened shower time and kept room temperatures lower than usual.

COP27 summit 2022: Informal draft has little new for poor nations

Sticks to coal phase-down, seeks 'phase out and rationalisation' of fossil fuel subsidies

ONGC Q2 profit tumbles 30% to Rs 12,826 crore on windfall tax woes

India's top oil and gas producer ONGC reported a 30 per cent fall in September quarter net profit after the government brought a new tax on windfall profits arising from a spurt in international energy prices. Net profit of Rs 12,825.99 crore, or Rs 10.20 a share, in July-September 2022-23 is compared with Rs 18,347.73 crore, or Rs 14.58 per share net profit in the same period a year ago, Oil and Natural Gas Corporation (ONGC) said in a statement. Profit fell 15.6 per cent over the preceding June quarter when it had reported Rs 15,205.85 crore net profit. Net profit fell despite the company's gross billing for crude oil it produced soaring 37.7 per cent to USD 95.49 per barrel in July-September from USD 69.36 a barrel a year back. State-owned ONGC sells crude oil, which is refined at refineries to produce petrol, diesel and other petroleum products, at international benchmark rates which soared following the Russian invasion of Ukraine. However, the government beginning July 1 bro

Five changes that can help India reach its green energy goal faster

Experts say India will need systemic changes in policy and electricity infrastructure to quickly ramp up its renewable energy capacity

India to produce 50% energy from renewables by 2030: Modi at G20 meet

Prime Minister says there should be no restrictions on energy supply, seeks 'return to the path of ceasefire and diplomacy in Ukraine'

G20 meet: There should be no restrictions on energy supplies, says PM Modi

"India's energy security is also important for global growth," Modi was quoted as saying in a statement released by the Indian foreign ministry.

India, Russia vow to expand economic cooperation, including energy sector

India and Russia on Tuesday vowed to expand their economic engagement including New Delhi's import of petroleum products from its "time-tested" partner even as External Affairs Minister S Jaishankar emphasized on ending the Ukraine conflict in view of growing global concerns over energy and food security. After holding wide-ranging talks with his Russian counterpart Sergey Lavrov and Deputy Prime Minister Denis Manturov in Moscow, Jaishankar said India would be supportive of any initiative that "de-risks" the global economy and stabilises the global order at this stage. In his opening remarks at the meeting with Lavrov, Jaishankar described Indo-Russia relations as "exceptionally steady" and "time-tested" and said the objective is to fashion a contemporary, balanced, mutually beneficial, sustainable and long-term engagement between the two sides. It was Jaishankar's first visit to Moscow after Russia launched its invasion of Ukraine in February and his talks with the Russian ...