Renewable Energy Sector

Corporates hopeful for green hydrogen; may pump Rs 16 trillion in 10 years

Industry experts have said that it will take a combination of technological advancements and regulatory support to boost the cost-effectiveness and viability of green hydrogen in the country

$50-bn market opportunity for RE-powered livelihood appliances: Report

A USD 50-billion market opportunity exists for clean energypowered livelihood appliances to boost India's rural economy, especially among women, according to a report. In India, more than 75 per cent of all female workers are employed in agriculture and agri-allied industries such as food processing and livestock. With the help of decentralised renewable energy (DRE) technologies which are capable of mitigating intermittent electricity problems and introducing mechanisation, the rural women will be able to improve their productivity, according to the 'Unlocking Sustainable Livelihood Opportunities for Rural Women' report conducted by the Powering Livelihoods -- a CEEW and Villgro initiative. The report showcases several models to mainstream women in tech-enabled livelihood opportunities using distributed renewable energy-powered technologies as a case study. "Powering Livelihoods has helped more than 13,000 end-users using programme-supported DRE livelihood technologies, out of whi

Govt allows agencies to extend commissioning date of solar, hybrid projects

In a bid to provide relief to renewable energy players, the government has allowed the implementing agencies to extend the commissioning date of solar PV and solar PV-wind hybrid power projects till March 31, 2024. "Solar PV power developers/associations have represented to MNRE that there is a supply chain disruption in the solar PV sector and have requested appropriate reliefs to tackle the same," the Ministry of New and Renewable Energy (MNRE) said in a notification on Thursday. "This issue has been examined in the Ministry and it has been decided that implementing agencies SECI/NTPC/NHPC may extend the scheduled commissioning date (SCD) till 31.03.2024 and commensurately extend other associated intermediate milestones of such solar PV/Solar PV-wind hybrid power projects, wherein the last date of bid submission was on or after 10.04.2021 and whose SCD, including time-extensions, already granted, if any, is before 31.03.2024, and who wish to avail such time-extension," it said. Th

RE firms may use rupee loans to refinance $3 bn overseas green bonds

Costly overseas funds forcing them to tap domestic sources

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

IIT Madras generates power from sea waves, aims to go commercial by 2024

Innovation may help India achieve climate change-related goal of generating 500 Gw of renewable energy by 2030

TN eyes key role in offshore wind energy, may mop up $30 bn investments

According to govt estimates, 14 locations have been identified in the state, with potential to generate 25 Gw of wind energy

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

Sembcorp to acquire Vector Green for Rs 2,780 cr, expand India presence

Sembcorp Industries will acquire Vector Green Energy for Rs 2,780 crore to expand its renewable energy footprint in India to 3 gigawatts (GW), the company said on Sunday. The completion of the acquisition will bring the Singapore-based group's gross renewable energy capacity to 8.5 GW, closer to its 2025 target of 10 GW of gross installed renewable capacity. "Sembcorp Industries (Sembcorp) announces that its wholly-owned subsidiary, Sembcorp Green Infra Limited, has signed an agreement with India Infrastructure Fund II, a fund managed by Global Infrastructure Partners India Pvt Ltd, to acquire 100 per cent interest in Vector Green Energy Private Limited (Vector Green) for a base equity consideration of approximately Rs 2,780 crore," it said in a statement. Vector Green is an independent power producer with renewable power generation assets across 13 Indian states. The portfolio includes 495 megawatts (MW) of solar capacity and 24 MW of wind capacity in operation, with 64 MW of solar

JSW Energy likely to close Rs 10,530-cr Mytrah acquisition by December-end

The deal, announced in August, is JSW Energy's largest till date; will take the firm's operational generation capacity to 6.5 Gw from 4.8 Gw now, and accelerate its plans to achieve 10 Gw by FY25

Developing economies will need $1 trn in RE sector to achieve net-zero: IMF

The IMF on Friday said that developing economies needed an investment of USD 1 trillion a year by 2030 solely in the renewable energy sector to stay on track to achieve the net-zero greenhouse gas emissions target by 2050. Observing that emerging markets and developing economies account for two-thirds of global greenhouse gas emissions and many are highly vulnerable to climate hazards, the International Monetary Fund said these developing economies would need significant climate financing in the coming years to reduce their emissions and to adapt to the physical effects of climate change. The investment needs of these economies solely in renewable energy could reach USD 1 trillion a year by 2030 if they are to stay on track to achieve net-zero greenhouse gas emissions by 2050, it said, adding that developing economies alone will require up to USD 300 billion a year by 2030 to adapt agriculture, infrastructure, water supply, and other parts of their economies to counterbalance the ...

Reliance on a buying spree to achieve its renewable energy goals

In AGM 2022, Ambani said that they would "accelerate" the company's commitment to investing Rs 75,000 crore towards establishing a New Energy manufacturing ecosystem in Jamnagar

Centre lifts Chinese import restrictions on CPSEs to boost RE projects

The move will enable the CPSEs to import freely the four categories of goods from any country, including China, which heavily dominates the renewable energy supply chain

TPG weighing majority stake sale in Fourth Partner Energy: Report

The private equity firm is working with an adviser on the deal, said the people.. A stake sale could value Fourth Partner at around $600 million, the people said.

India Inc's green push gets a fillip with amended Energy Conservation Bill

Share of thermal energy for manufacturing companies almost 95%

Sterlite Power to launch renewable energy biz, cater to industrial clients

To provide integrated green energy solutions to carbon-intensive industries

Tata Power to skill 3,000 youths to work in renewable energy sector

Tata Power on Friday said it will give training to 3,000 youths this fiscal in the field of renewable industry. The company aims to train a total of 5,000 youths by 2025 to work in the sector, Tata Power said in a statement. "Tata Power Skill Development Institute ( TPSDI) has so far trained 1.4 lakh people across its courses both conventional and renewable energy technology. It is expanding its training initiatives to equip youth with skills for green energy jobs. The institute has planned to train around 3,000 youths in FY23 and around 5,000 by 2025," it said. The training will be offered in solar photovoltaic for electric vehicle charging, installation and maintenance of rooftop solar photovoltaic, installation of smart meters, and home automation to promote smart and efficient energy related expertise across its six training centres at Shahad, Trombay, Vidyavihar, Maithon, Mundra, and Jojobera. "India is making significant strides toward achieving its clean energy goals and ...

Morgan Stanley-backed Continuum Green Energy raises $350 mn via bonds

Continuum Green Energy, a renewable energy platform, on Wednesday said it has raised USD 350 million (about Rs 2,786 crore) in debt through a bond issue to expand its solar hybrid and wind projects. The company, which has a portfolio of 1.3 GW of assets either operational or nearing commissioning, issued senior secured floating rate notes to two marquee international institutional investors, as per an official statement. "With these funds, the company aims to expand its portfolio to 2.5 GW, majority of which as wind and solar hybrid projects, servicing Commercial and Industrial (C&I) consumers, enabling them to meet their sustainability goals economically," its founder and chief executive Arvind Bansal said. Continuum is majority-owned by a global infrastructure fund managed by Morgan Stanley Infrastructure Partners, and has 1.2 GW of projects for near term construction, as per the statement. It can raise an additional USD 50 million on fulfilment of certain conditions, it ...

India needs Rs 4-trn investment for 113 GW RE projects in pipeline: Report

According to the report titled 'Accelerating India's Clean Energy Transition', about 103 GW of utility-scale renewable power generation projects are in the pipeline in India

Financial health of discoms hurdle for renewable energy sector: Moody's

The payment delays to the state-owned distribution companies are common, leading to a build-up of receivables from off-takers and an increase in working capital debt for renewable energy companies