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Sustainability Outlook Headlines
Malaysian investor buys into India PV playerMalaysia’s Yinson Holdings Berhad has reached agreements to acquire a stake in a 140MW photovoltaic portfolio in India. Under the terms of the agreements Yinson has acquired a 37.5% equity interest in Rising Sun Energy, an India-incorporated company that owns two operational and adjacent solar parks in Rajasthan. Yinson will pay INR554m (€6.6m) for the stake, subject to closing conditions, while also providing funding of INR600m to repay certain outstanding liabilities of RSE. The agreements were entered into through Yinson’s wholly owned subsidiary, Yinson Renewables. The two adjoining... Read more.. Date : Apr 2 Source: ReNews
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JICA Extends ODA Loan of INR 1,864 Crore for the Project for Pollution Abatement of Nag River in NagpurJapan International Cooperation Agency (JICA) has signed an agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 29,082 million Japanese Yen (approximately INR 1,864 Crore) for the ‘Project for Pollution Abatement of Nag River in Nagpur’. The objective of the Project is to improve the quality of water by abating pollution of Nag River and Pili River in Nagpur, Maharashtra, by developing appropriate sewerage systems in related river basins, thereby contributing to the urban environment improvement. The ODA loan agreement was signed between Dr. C... Read more.. Date : Apr 2 Source: Business Wire
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EIB proposes €650 million loan for Kanpur Metro Rail project in IndiaThe European Investment Bank (EIB) has proposed to provide financial assistance of €650 million for the Kanpur Metro Rail project after assessing the project. The total estimated cost of the project is €1.5 billion. “The Government of India (GOI) has applied for a loan from the European Investment Bank (EIB) towards the cost of the Kanpur Metro Rail Project and it intends to apply part of the proceeds to payments for goods, works, related services and consulting services to be delivered under this project. The project will be most probably jointly financed by the (EIB) with the Government... Read more.. Date : Apr 2 Source: Urban Transport News
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Coronavirus outbreak lockdown will affect forecasts: WMOThe World Meteorological Organisation (WMO) has flagged that lack of meteorological data from commercial aircraft, grounded across the world because of the coronavirus (Covid-19) pandemic will affect the reliability of weather forecasts. In a statement issued on Wednesday, WMO said it is very concerned about the impact of Covid-19 on the quantity and quality of weather observations and atmospheric and climate modelling exercises. In-flight measurements of temperature, wind speed and direction are used both for weather prediction and climate monitoring. Commercial aircraft contribute this... Read more.. Date : Apr 2 Source: The Hindustan Times
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India enough limestone to help coal-based thermal power plants meet new emission norms: CSE reportIndia has enough reserves of limestone to enable thermal power plants to install flue gas desulphurization (FGD) systems by 2022 in order to meet the new emission norms for the sector, says a new report released online on Tuesday by Centre for Science and Environment (CSE). The latest report refutes the contention of power plants, which have been delaying implementation of the norms by raising concerns about availability of limestone and use of its byproduct, FGD gypsum. The coal-based thermal power plants have to install FGD systems to meet country’ new emission norms by 2022. Limestone... Read more.. Date : Apr 1 Source: The Times of India
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Study links climate crisis to changes in monsoon patterns over last 30 yearsParts of India are facing a severe impact of the climate crisis with reduced rainfall and increase in dry, or no rain, and heavy rain days during the monsoon season, an India Meteorological Department (IMD) study on changes in monsoon patterns over 30 years has found. The monsoon, which generally begins in June and retreats by Sept, delivers around 70% of India’s annual rainfall. It is crucial for the cultivation of rice, wheat, sugarcane and oilseeds in the country where farming employs over half of its people. The monsoon is key to replenishing reservoirs, groundwater and addressing... Read more.. Date : Apr 1 Source: The Hindustan Times
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China's CNIC ponders buying into India's Greenko - reportChina’s CNIC Corp is mulling over the possibility of buying a 10% interest in Indian renewable energy company Greenko Group, Bloomberg reports, citing informed people. One of the sources told the news agency that Greenko has been looking for a long-term investor in order to secure some USD 800 million (EUR 730.5m) to spend on growing its energy storage capacity at home. Greenko, which counts Singapore’s GIC and the Abu Dhabi Investment Authority (ADIA) as backers, has some 4.8 GW of installed solar, wind, hydro, biomass and gas-based power production capacity, according to its annual... Read more.. Date : Apr 1 Source: Renewables Now
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Pandemic pushing oil sector to the brinkIt’s been a price meltdown that looks set only to worsen for the oil industry as Covid-19 pandemic slams demand. On Monday, the price of West Text Intermediate crude slid below $20 a barrel before clawing back slightly. International benchmark Brent Crude was still hanging in there at $22.76. Global oil giants now believe prices could plunge another 20-25 per cent as demand keeps falling amid lockdowns worldwide aimed at containing the highly contagious coronavirus. It’s hard to believe oil was $65 a barrel when we entered the new decade just three months ago, climbing back to $70 days... Read more.. Date : Apr 1 Source: The Hindu Business Line
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The world's largest coronavirus lockdown is having a dramatic impact on pollution in IndiaWhen India imposed a nationwide lockdown a week ago, it was designed to stop the imminent spread of the novel coronavirus. But grinding this country of 1.3 billion people to a near halt has also provided a temporary remedy to another pressing health issue: suffocating pollution levels. The world's largest lockdown means all factories, markets, shops, and places of worship are now closed, most public transport suspended and construction work halted, as India asks its citizens to stay home and practice social distancing. So far, India has more than 1,300 confirmed cases of Covid-19,... Read more.. Date : Apr 1 Source: CNN
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Solar, wind and hydro projects are threatening key wildlife habitats in Southeast Asia, IndiaRenewable energy is crucial in the fight against global warming, but the development of wind, solar and hydropower projects in important conservation areas could spell disaster for birds, great apes and other wildlife. For the first time, researchers have done a comprehensive study of current and future renewable energy projects in important biodiversity areas. They found 922 large renewable energy projects in the global pipeline that overlap with important conservation areas. Just over half (51 per cent) are in the developing regions of India, Southeast Asia, South America and Africa, and... Read more.. Date : Apr 1 Source: Eco Business
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World economy will go into recession with likely exception of India, China: UNThe world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the coronavirus pandemic, spelling serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report. With two-thirds of the world’s population living in developing countries facing unprecedented economic damage from the Covid-19 crisis, the UN is calling for a USD 2.5 trillion rescue package for these nations. According to the new analysis from United Nations Conference on Trade and Development (UNCTAD), the UN... Read more.. Date : Apr 1 Source: The Hindu Business Line
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Asia's central banks must rise to the challenge of climate changeClimate change is already a reality. The deadly bushfires in Australia, ferocious flooding in Indonesia and extended droughts in Vietnam have led to the destruction of infrastructure, investments and livelihoods. Yet across Asia, acceptance of this reality has not yet changed consumer behaviors across the region. After a temporary slowdown in the past five years, greenhouse gas emissions rose to a historical high of 33.1 billion tons in 2018. Globally, fossil fuel-related carbon emissions rose by 1.7 percent from the previous year. There is a sustained increase in coal, oil and gas... Read more.. Date : Mar 31 Source: Green Biz
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Asian Development Bank to invest $100 million in NIIF's fund of fundsAsian Development Bank (ADB) will now join the Government of India (GOI) and Asian Infrastructure Investment Bank (AIIB) as an investor in one of the instruments of National Investment and Infrastructure Fund (NIIF) of India. ADB will invest $100 million equivalent in the NIIF Fund of Funds (FoF). With ADB’s investment into the NIIF platform, the FoF has now secured $700 million in commitments. NIIF's FoF is targeted at India-focused PE fund managers who rely on international investors for large-scale fundraising as domestic institutions such as Indian pension funds and insurance companies... Read more.. Date : Mar 31 Source: Business Standard
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KSB promotes FGD systems to reduce emissionKSB one of the manufacturers of pumps and industrial valves has reiterated its support towards government’s efforts in reducing sulphur content in the flue gas emission by 30-35 per cent from 2005 level by 2030. This is agreed at COP 21 Summit (United Nations Framework Convention on Climate Change) in Paris. As part of the commitment, KSB has localised slurry recirculation pumps required for Flue Gas Desulphurisation (FGD) applications. The company has recently bagged total order worth Rs. 100 crore for the supply of slurry recirculation pumps in FGD plants to be installed across ten... Read more.. Date : Mar 31 Source: Electrical India
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Burnt and dumped': Coca-Cola, Pepsi, Unilever and Nestlé plastics waste fuelling climate changeA new report by international development and relief agency Tearfund claims that single-use bottles, sachets and packets produced by the companies are being burnt in developing countries at an alarming rate and contributing to the climate crisis in the process. The Burning Question report found that the four global companies create enough plastic pollution to cover 83 football pitches every day. According to the report, Coca-Cola, Nestlé, PepsiCo and Unilever are responsible for half a million tonnes of plastic pollution that is burnt or dumped annually in six developing countries - China... Read more.. Date : Mar 31 Source: Edie News
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Covid-19 and dependence on China’s PV supply chainDebate about the world’s dependence on the Chinese solar manufacturing industry has been constant over two decades and particularly intense since the nation’s supremacy was confirmed before the onset of the 2008 global financial crisis. Despite years of trade wars, anti-dumping measures and retaliations, the Chinese PV industry is at its apogee while European manufacturers struggle to survive despite talk of a revival and their U.S. counterparts have been only partially revived thanks to President Trump’s protectionism. India has thus far failed to live up to its promise of becoming a... Read more.. Date : Mar 31 Source: PV magazine
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J&K climate change – an issue worth importanceIndia is the fifth most vulnerable of 181 countries to the effects of climate change, with its poorest being the most at risk, according to a report Global Climate Risk Index 2020 prepared by Bonn-based think-tank Germanwatch on December 4, 2019. Jammu and Kashmir is the 2nd most vulnerable territory after Assam in India to the effect of climate change. The agrarian economy and eco-sensitive environment make it more vulnerable to slight climate change. This winter was very harsh and ruthless, the extratropical storms originating in the Mediterranean region causing sudden winter rain to the... Read more.. Date : Mar 31 Source: Kashmir Watch
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Coronavirus lockdown: Discoms get 3 months for payment to ensure 24x7 power supplyThe union government has approved a financial relief package for the power sector, that entails a three month moratorium on state owned electricity distribution companies (discoms) to make payments for the electricity bought by them, and reducing the payment security amount by half for future power purchases. These measures including waiving penalty for late payments, are part of the government's efforts to ensure round-the-clock electricity supply during the three week long countrywide lockdown to prevent the spread of coronavirus (COVID-19) pandemic. "Due to the lockdown, consumers are... Read more.. Date : Mar 30 Source: Business Today
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State Bank of India raises $100 million in green bondsIndia’s largest lender State Bank of India (SBI) on Saturday said it has raised $100 million in green bonds through private placement. “Continuing its commitment towards sustainable development, the bank raised $100 million floating rate notes at a coupon rate of 80 basis points (bps) above the three-month Libor," SBI said, adding that these bonds will be issued through SBI’s London branch and shall be listed on Singapore Exchange (SGX). This is the bank’s third iteration of green bonds and already has raised such bonds of $700 million. Rajnish Kumar, chairman, SBI said in a statement that... Read more.. Date : Mar 30 Source: Livemint
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MNRE announces scheme for 100% solarization of Sun-temple town Modhera in GujaratThe Ministry of New and Renewable Energy (MNRE) has announced a scheme that aims at 100 per cent solarization of Modhera in Gujarat. The town, located in Mehsana district, houses the famous Sun Temple, a hindu temple dedicated to the sun God. Under the scheme the domestic and agricultural electricity needs of all the households of Modhera are planned to be fulfilled with solar energy, thereby setting up a pilot demonstration project for a village or town running completely on solar power. “Modhera has been selected due to the location of ancient sun-temple there and the associated... Read more.. Date : Mar 30 Source: Energy Infra Post
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NTPC, SECI to Set Up 10GW Renewable Energy Parks in RajasthanWith an aim to achieve the target of 175 GW of renewable energy by 2022, the government has ramped up its process of tendering of renewable energy projects across the country. In line with this, India’s largest power generation utility NTPC and state-owned Solar Energy Corporation of India (SECI) will soon be signing an agreement with the Rajasthan government for setting up of 2 renewable energy parks of 5 GW capacity each. This will be the first phase of the proposed 25 GW ultra mega renewable energy park in Jaisalmer, Rajasthan. The decision was taken during the recently held meetings,... Read more.. Date : Mar 30 Source: Saur Energy International
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AIIB Invests in 100-percent electric rapid transit system in BangaloreThe Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a US$335 million loan for a 100-percent electric metro project that will reduce traffic and pollution and increase employment and mobility in India. The investment in the Bangalore Metro Rail Project—Reach 6 (R6) is AIIB’s first metro project and its first joint financing partnership with the European Investment Bank (EIB). EIB is the project’s lead financier with Euro 500 million in funding. By expanding the city’s metro system, the project will provide high-capacity north-south connectivity through the... Read more.. Date : Mar 30 Source: EQ International
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BSES Stops Distribution of Electricity Bills, Meter Reading Amid Coronavirus OutbreakBombay Suburban Electric Supply (BSES) power discoms BRPL and BYPL have stopped distribution of electricity bills and meter reading in view of the coronavirus outbreak, a company spokesperson said. The company is also sensitising its employees about ways to check the spread of coronavirus and taking precautions, he said. "Physical distribution of power bills and meter reading are being stopped till further notice. Consumers will be given provisional bills on the basis of DERC's laid-down criteria," the spokesperson said. The evolving coronavirus situation is being closely monitored in the... Read more.. Date : Mar 30 Source: News18
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Mahindra Renewables divests its stake in Cleansolar Renewable Energy to CLP IndiaMahindra & Mahindra announced that Mahindra Renewables (MRPL), a step-down wholly owned subsidiary of the Company, has completed the sale of 96,23,000 equity shares of Rs. 10 each held by MRPL in Cleansolar Renewable Energy (CREPL) aggregating to 100% of the paid-up equity share Capital of CREPL to CLP India for a consideration of Rs 108.39 crore. With this transaction, CREPL has ceased to subsidiary of MRPL and the company. Date : Mar 30 Source: Energy Infra Post
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Covid-19 impact: How EV industry is coping with the lockdown?The novel coronavirus pandemic has put brakes on the country’s manufacturing with the 21-days complete lockdown across the nation. The coronavirus pandemic is having an unanticipated impact on every sector due to disruption in the supply chain and production. For the electric vehicle (EV) industry which is dependent on China for import of cells, battery and other electronic components and sensors, it's a period of a prolonged slowdown. The EV players initially started feeling the heat when coronavirus broke out in China and they faced component shortages. Now China is reportedly getting... Read more.. Date : Mar 30 Source: ET Auto
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