Renewable Sources

Waaree Renewable Tech bags order to build 221.8 MW solar power project

Waaree Renewable Technologies on Wednesday said it has bagged an order to build a 221.8 MWp solar power project from a steel maker. "We have received a Letter of Award (LoA) from one of India's leading steel manufacturing companies for the execution of Engineering, Procurement and Construction (EPC) works of a solar power project of 221.8 MWp DC capacity," it said in a BSE filing. The order is placed by a renewable energy arm of one of India's leading steel manufacturing companies. The project is likely to be completed in FY 2023-24, as per the terms of the contract. Waaree Renewable did not disclose the financial details of the project.

Vedanta arm Balco signs pact with SRIPL to source hybrid renewable power

BALCO has entered into an agreement with Serentica Renewables India Private Ltd (SRIPL) to set up a special purpose vehicle to source hybrid renewable power for its aluminium operations in Chhattisgarh. Bharat Aluminium Company Ltd (BALCO) is a subsidiary of mining major Vedanta Ltd. "BALCO has entered into a Power Delivery Agreement (PDA) to source 105 MW hybrid renewable power for its aluminium operations at Chhattisgarh, through Special Purpose Vehicle (SPV) i.e. affiliates of SRIPL," Vedanta said in a regulatory filing. The project will be funded on a 70:30 debt to equity basis and BALCO will own 26 per cent equity in the SPV. The hybrid energy project will be built on a captive model and build own operate basis. The term of the PDA will be for a period of 25 years from the date of commissioning of the project. The SPV is expected to start delivering the power within 24 months of the PDA signing. This will be helpful in securing continuous supply of power through renewable en

HP CM announces slew of schemes to promote green energy in state budget

Reading out his first Budget in the Vidhan Sabha, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Friday announced a slew of green energy schemes

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

India can attract over $ 20 bn investment in renewables in 2023: Experts

India has the potential to attract an investment of over USD 20 billion in renewables in 2023 and requires a strong framework for sustainable power, say industry experts at the renewable energy conference REConIndia 2023 on Friday. Based on the discussion at REConIndia 2023, a white paper will be prepared on solar power challenges, roadmap to make green hydrogen viable, propelling wind energy and state of green financing in India, a statement said. The conference was organised by Blue Circle on Friday, where experts, stakehoders and industry leaders deliberated on the key issues, challenges and opportunities in renewable energy in India. Founder and CEO of Blue Circle Siddharth Anand said, "The industry estimates investment in excess of USD 20 billion in 2023". Power and New & Renewable Energy Minister R K Singh in December 2022 also pegged the investment in renewables at around USD 25 billion in 2023. Anand also stated that the REConIndia 2023 brought together key ...

India Energy Week: PM Modi seeks more investments in oil & gas, refineries

Launches E20 fuel (petrol blended with 20% ethanol) two years before target

Solar manufacturing PLI to create 90 Gw addl capacity in India: R K Singh

India to have more than 60% power generation from RE by 2030, says minister

Sectors, states' efforts needed to get 500 GW renewable capacity: Khuba

Concerted efforts from all sectors and states are vital for India to achieve the target of 500 gigawatt renewable energy capacity by 2030, Union Minister of State for New and Renewable Energy and Chemicals and Fertilizers Bhagwanth Khuba has said. He lauded the role played by the states in the renewable energy sector by saying that their joint efforts with the Centre resulted in the country achieving the goal of 175 GW of clean energy capacity this year itself, set by Prime Minister Narendra Modi as per the 2015 Paris agreement, a press release issued by PIB said. The Paris agreement is an international treaty on climate change which aims at limiting global warming to well below 2 degrees Celsius, preferably to 1.5 degrees Celsius, compared to pre-industrial levels, according to the United Nations Climate Change website. The minister was speaking at the 8th foundation day celebration of the Association of Renewable Energy Agencies of States (AREAS) hosted by it and Government of ..

Bengal plans to take renewable energy generation from 5% to 20% by 2030

West Bengal is aiming to take its renewable energy generation to 20 per cent of the total installed capacity by 2030, a senior official said on Friday. At present, the renewable energy share of the total installed capacity is 5 per cent, she said. "We have set the target of generating energy from renewable sources at 20 per cent by 2030," said Nandini Chakravorty, the principal secretary of the Non-conventional and Renewable Energy Sources Department. Speaking at a conclave organised by the Indian Chamber of Commerce (ICC), she said rooftop solar panels have been installed in 1,954 schools of the state and work was underway to add another 1,890 schools to the list. "These initiatives will not only help us reduce carbon emission and achieve net zero sooner than the target, but also is a progress toward sustainable development. We intend to focus on the textile, horticulture and agricultural sectors for increased usage of renewable sources," Chakravorty said. State Power Secretary S

Global energy crisis hastening end of fossil fuel dominance, says India

Renewables paired with energy storage are now cheaper than coal after the fuel's price surged in recent months, while fossil sources are also experiencing a lack of investment, RK Singh said

Earth Day 2022: Reduce reliance on fossil fuels, says Dalai Lama

We need a more holistic education, an education that incorporates inner values, such as a compassionate concern for others' well-being: Dalai Lama

Tata Power, RWE Renewables GmbH tie up to develop offshore wind projects

A corresponding MoU has been signed between Tata Power Renewable Energy Limited and RWE Renewables GmbH, one of the world's leaders in offshore wind, a Tata Power statement has said

Did India fail COP26 or take a step forward in the right direction?

COP26 climate summit ended with India and China forcing an replacement of the word 'phase-out' with 'phase-down' in relation to coal in the final draft. What was behind India's move? Let's find out

Fossil fuel divestment campaign gathers momentum in philanthropy

The worldwide divestment campaign has sought commitments from universities, corporations and other entities

ReNew expects to commission 10.2 GW renewable energy capacity by FY23

Renewable energy firm ReNew Power is looking to commission its 10.2 gigawatt (GW) capacity by financial year 2022-23. In a statement on Tuesday, ReNew said it also expects to generate an annual EBITDA (earnings before interest, taxes, depreciation, and amortization) of USD 1.1-1.2 billion with the commissioning of the 10.2 GW capacity. "ReNew expects to have its 10.2 GW portfolio operational by the end of FY23 which also includes 3.8 GW of committed capacity i.e. which has a PPA/LOA (Power Purchase Agreements/Letter of Award) or for which the company has a binding acquisition agreement "This capacity is expected to generate an annual EBITDA of USD 1.1 billion - 1.2 billion, double of USD 578 million in FY21," the company said. It further said it aims to have 18 GW of RE capacity by 2024-25, from the 6.4 GW operating at present. "As India sets its sight on achieving 450 GW of installed clean energy capacity by 2030, ReNew will be a leading catalyst of this transition from fossil-ba

CESL, WRI India sign pact to build strategy for renewable energy sector

Convergence Energy Services Ltd (CESL) and the World Resources Institute India have entered into a pact to work on strategising for India's transition towards a net-zero emission trajectory.

India's capacity for renewable energy rose by over 250% in 6-7 years: PM

He emphasised that the capacity of solar energy has been increased by about 15 times in the last six years.

Adani Green raises $1.35 bn to finance its renewable portfolio

The debt facility, with participation from 12 intl banks, would initially finance the company's 1.69 GW hybrid portfolio of solar and wind renewable projects to be setup in 4 SPVs in Rajasthan

Battery storage cheaper than new coal power plants in TN: Analysis finds

Renewable energy along with battery storage in Tamil Nadu is cost competitive with new coal power plants, the analysis has found

ITC pledges to meet 100% grid electricity needs from renewables by 2030

Firm has been expanding its renewable footprint over past two decades, meets 40% of its electricity needs from wind, solar and biomass; Its investment in renewable assets is about Rs 1,000 cr