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Sustainability Outlook Headlines
Budget 2020: Indirect tax proposals may take Make in India theme forward; customs electronic duty credit ledger a milestoneFrom an indirect tax perspective, the longest Budget speech in Indian history of 160 minutes highlighted the continuing trend of reforms under the Goods and Services Tax (GST) law, introduction of electronic invoice to facilitate GST compliance/return filing and also touched upon varied measures on the customs side for “ease of doing” business in India. Budget 2020 evidences an apparent focus of the government to encourage local manufacturing and consumption thereof. There is a conscious increase in non-creditable customs duty levy in case of imported shelled walnuts, footwear and parts... Read more.. Date : Feb 4 Source: Firstpost
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Budget 2020: Many sustainability schemes but no action plan, say expertsIn her Budget speech, finance minister Nirmala Sitharaman mentioned three critical elements of development: aspirational India, development and a caring society. All these are critical part of sustainable development goals. One measure announced was to promote natural gas use in India. The minister proposed two things: expansion of the national gas grid from the present 16,200 km to 27,000 km, and reforms to facilitate transparent price discovery and ease of transactions. This will incentivise companies to invest in exploration and extraction of natural gas and encourage them to move to... Read more.. Date : Feb 4 Source: Business Today
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Delhi 2020: Congress promises unemployment allowance, free electricity up to 300 unitsThe Congress on Sunday released two manifestos for the Delhi Assembly elections — the first one focussing on creating jobs, new pension scheme, and cashback schemes for water and electricity and the second one on ways to curb the rising air pollution in the Capital. Party stand on CAA The Congress said if voted to power, the party would by February 21, pass a resolution in the Delhi Assembly demanding the Center to drop the Citizenship (Amendment) Act. It added that it would also not let the Centre implement the National Population Register (NPR) in its current form as well as the National... Read more.. Date : Feb 4 Source: The Hindu
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Kinetic Green Energy set for ₹250-crore expansionKinetic Green Energy and Power Solutions Ltd, part of the Kinetic & Firodia Group, is planning an aggressive expansion programme which will involve the company investing about ₹250 crore. For this, the Pune-headquartered company will be raising about $35 million (₹250 crore) from private equity investors. The company’s current growth plan follows traction in India’s electric three-wheeler market on the back of a favourable policy framework, greater affordability and price parity with fossil fuel vehicles, among others. “Now, we feel that we have reached the point of inflexion with... Read more.. Date : Feb 4 Source: The Hindu - Business Line
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Kinetic Green partners with BPCL to launch electric 3W on battery swapping techKinetic Green Energy and Power Solutions Ltd, part of the Kinetic & Firodia Group on Monday announced partnership with Bharat Petroleum Corporation Limited (BPCL) to launch electric vehicle mobility solution based on swappable battery technology. Under 'e-Drive' initiative, both the companies will provide smart lithium-ion batteries and set up battery swapping stations across the country, the company said in a release. As a part of alliance, a range of electric three wheelers, specially designed for facilitating swappable battery and a 2-minute battery swap will be deployed by Kinetic... Read more.. Date : Feb 4 Source: ET Auto
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Govt bets on solar panels along rail tracks, barren land to raise capacityIndia aims to boost solar power generation by encouraging the installation of panels along rail tracks and on barren land, the finance minister said on Saturday as the country looks to cut its carbon footprint and accelerate clean energy production. Looking to expedite clean energy as some coal-fired power plants face closure, Asia's third-largest economy has set a target to raise renewable energy capacity to 175 gigawatts by 2022. Its renewable capacity rose 16% to 85.9 GW in 2019, while coal-fired capacity rose 3.9% to 198.5 GW. "A scheme to enable farmers to set up solar power... Read more.. Date : Feb 3 Source: Business Standard
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Solar pump scheme to now cover 20 lakh farmersThe Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan (PM KUSUM) scheme has been expanded to cover 20 lakh farmers, up from 17.5 lakh farmers it was initially intended to cover. The scheme was initially announced in Budget 2019 to provide a parallel source of income to farmers. It took the Centre over a year to get the Cabinet’s approval for the same primarily because of the massive budgetary support required. It was initially proposed that this ₹1.44-lakh crore scheme would solarise every agricultural pump and replace all the grid-connected pumps with solar power over 10 years.... Read more.. Date : Feb 3 Source: The Hindu Business Line
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Budget 2020 proposes hike in EV import duty to promote domestic manufacturingThe Union Budget on Saturday proposed to increase customs duty on import of electric vehicles across categories. The increase in basic customs duty is in the ranges of 10-40 percentage points across EV segment, and comes in the backdrop of Chinese manufacturers dumping low-quality battery packs for EVs in India. These measures will result in a rise in prices of existing electric buses and passenger vehicles sold in India by Olectra Greentech, Hyundai Motor India Limited and MG Motor India Limited. These companies import their respective products in a completely knocked down (CKD) or semi... Read more.. Date : Feb 3 Source: Livemint
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Budget 2020: Smart meters to plug leaks in supply, revenueFinance minister Nirmala Sitharaman on Saturday urged states and Union territories to replace conventional electricity meters with prepaid smart meters in three years, with the aim of cutting distribution losses and setting the stage for separating the carriage and content operations of power distribution companies (discoms). Carriage refers to the distribution aspect and content to power. India’s average aggregate technical and commercial (AT&C) losses are at 21.4%, pushing up the dues of discoms to power generating companies to ₹72,938 crore at the end of November. Smart meters... Read more.. Date : Feb 3 Source: Livemint
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Nirmala Sitharaman suggests a ₹4,400 crore solution to Delhi pollution in Budget 2020Citing that pollution as a matter of concern, Finance Minister Nirmala Sitharaman allocated ₹4,400 crore for National Clean Air Programme (NCAP) for the year 2020-21 in Union Budget 2020. Central government will also encourage states that are formulating and implementing plans for ensuring cleaner air in cities with above one million population, added Finance Minister. "In large cities having population above one million, polluted air is a matter of concern," said Sitharaman while detailing plans for environment and climate change during Budget 2020. "Parameters for the incentives would be... Read more.. Date : Feb 3 Source: Livemint
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Energy firms cry foul over hike in customs duty on solar equipmentSolar power developers in India are crying foul over the government’s move to raise tariffs on imports of green energy equipment such as solar cells and modules in the budget. The step is aimed at driving local manufacturing of such equipment and discouraging low-quality Chinese imports but companies believe the tariff increase made through an enabling mechanism in the budget will hurt their business. Once a separate notification is issued, a new duty structure enabling a basic customs duty (BCD) of 20% on cells and modules will come into effect. Such equipment earlier did not attract any... Read more.. Date : Feb 3 Source: Livemint
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Schemes for discom revival, discom dues liquidation soon: R K SinghPower minister R K Singh on Saturday said the government will soon bring out schemes for discom revival, liquidation of discom dues and amend the Electricity Act to introduce hefty penalties on reneging of any kind of contract. Singh said Power Finance Corporation will set up an alternate investment fund to assist state distribution companies repay the over Rs 83,500 crore dues to thermal power plants. Ireda will set up a similar fund for states to help clearing dues to renewable plants. He said his ministry is working on a schedule for repayment of the discom dues from distribution... Read more.. Date : Feb 3 Source: ET Energy World
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Greenko, Renew Power bag SECI mega renewable cum storage based projectsGreenko Group with 900 mega watts (MW) and Renew Power with 300 MW bag Solar Energy Corporation of India (SECI) reverse auction for the world’s largest renewable energy cum storage power purchase tender. The tender was for 1200 MW with 600 MW assured supply for 6 hours daily during peak demand hours was oversubscribed. Such a project requires a storage capacity that includes pumped hydro and battery of about 3000 MW and renewable energy generation capacity. The renewable power generated from these tendered projects is expected to meet the peak requirements of the distribution companies..... Read more.. Date : Feb 3 Source: The Hindu Business Line
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EESL partners BHEL to set up EV charging infrastructureState-owned Energy Efficiency Services Ltd on Thursday said it has signed a pact with Bharat Heavy Electricals Ltd to set up a network of public charging infrastructure for electric vehicles at various highways across the country. Energy Efficiency Services Ltd (EESL) and Bharat Heavy Electricals Ltd (BHEL) will jointly explore opportunities in the field of e-mobility and fast-track the adoption of EVs in the country under the National E-Mobility Programme, the company said in a statement. As part of the agreement, BHEL will offer complete engineering, procurement and construction (EPC)... Read more.. Date : Jan 31 Source: ET Energy World
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BS-VI costs: Oil companies to raise rates by rupee 1 at one go in AprilState-run fuel retailers will raise fuel prices by 50 paise to Re 1 per litre in one go from April to recover investments made for producing Bharat Stage-VI (BS-VI, akin to Euro-VI standard) petrol and diesel. “I don't think premium (for BS-VI fuels) will be large enough for it to be staggered,” Sanjiv Singh, chairman of the country’s largest oil refiner and fuel retailer Indian Oil, said on Thursday after announcing trebling of the company’s net profit in the December quarter to Rs 2,339 crore. Pump prices are linked to petrol and diesel rates in regional trading hubs — Singapore and... Read more.. Date : Jan 31 Source: ET Energy World
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Italy requests India's help in designing hydro initiativeItaly has requested India's help in designing a hydrogen initiative leading up to the United Nations Climate Change Conference, to be held later this year. In a meeting on Thursday with Anand Kumar, Secretary, Ministry New and Renewable Energy, an Italian business delegation led by Alessandro De Masi, Head of Economic and Commercial Affairs of Italy discussed new opportunities for future collaborations and potential investment projects. These would be in the field of hydrogen, fuel cells, and electrolysers, among others. The 26th UN Climate Change Conference is scheduled to be held at in... Read more.. Date : Jan 31 Source: ET Energy World
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Growing steel demand in India to increase carbon emissions by 600 MT: TERIIndia's steel demand is likely to more than quadruple in the next 30 years, resulting in rise in carbon dioxide emissions by around 600 million tonnes, a report by the think-tank The Energy and Resources Institute (TERI) said on Thursday. The report, released on the second day of the 20th edition of World Sustainable Development Summit 2020, a TERI flagship event, said the CO2 emissions from India's steel sector could increase up to 837 million tonnes (MT) by 2050 if steel demand continues to grow, "having serious implications for the environment through its contribution to climate change... Read more.. Date : Jan 31 Source: Business Standard
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EVs will be cheaper than combustion vehicles in 3 years: Amitabh KantElectric vehicles will become cheaper than combustion vehicles in three years as the price of battery packs of EVs is expected to fall by almost 51 per cent per unit, NITI Aayog CEO Amitabh Kant said on Thursday. Kant was speaking at the Mobility Talk Corporate Conclave at the World Sustainable Development Summit (WSDS) 2020, TERI's annual flagship event being held in the capital. "Electric vehicles will become much cheaper than combustion vehicles in three years. The price of battery packs of EVs is expected to fall to USD 76 per kilowatt hour (or unit) in three years, down from the... Read more.. Date : Jan 31 Source: Money Control
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India working on new strategy to meet the target of 10 per cent cut in oil imports by 2022: Oil minister PradhanWith the government’s aim of reducing India’s oil import dependence by 10 per cent by 2022 not picking up pace, oil minister Dharmendra Pradhan today said his ministry is developing a new strategy to achieve the target. “Crude oil will continue to play a critical role at this stage of our development in meeting our energy requirements. Our government had set a road-map on reducing India’s crude oil import dependence by 10 per cent by 2022. We are developing a new strategy and initiatives to achieve this target,” he said, speaking at the World Sustainable Development Summit 2020 organised... Read more.. Date : Jan 31 Source: ET Energy World
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Hyundai expects to roll out mass market electric vehicle in 3 yearsHyundai Motor India (HMIL) is expected to roll out a mass market electric vehicle product in two to three years. The company expects the second half of the year to show improvement in domestic market and while there are concerns about the comparitively higher price for the BS-VI models, there might also excitement among the customers on the new technology, said Tarun Garg, director, sales and marketing division, HMIL. With some of the diesel vehicle manufacturers planning to stop diesel vehicle models in the wake of BS-VI implementation, the company is expecting a growth in the market but... Read more.. Date : Jan 31 Source: Business Standard
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Mahindra Electric Mobility plans a global journey, unveils a new brandMahindra Electric Mobility Ltd, a part of the $20.7 billion Mahindra Group, is planning to go global and export its indigenously developed EV technology products and solution to overseas markets such as Europe and South Korea. Mahindra Electric CEO Mahesh Babu said the company plans to supply products such as vehicle control unit and powertrain to SsangYong Motor Company, which is Mahindra Group company in South Korea. “Through SsangYong, our technologies are going to go to Europe, we are already engaged with some of our partners in Europe, with whom we are in talks to supply our... Read more.. Date : Jan 31 Source: Business Standard
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Gurugram: 30% progress in four years, smart grid moves at snail’s paceThe ambitious ‘smart grid’ project of DHBVN, which was launched in 2016 by then Union power minister Piyush Goyal with a view to curb the frustrating and frequent power outages in sectors 1-57, was supposed to be completed within a span of 12 months. However, to date, only 30% of the work has been finished because the project has faced several hurdles since announcement, said officials. During the first phase of this project which aims to create a sustainable and digital power supply ecosystem, areas such as DLF colonies, Palam Vihar and sectors 30 and 31 were supposed to get uninterrupted... Read more.. Date : Jan 31 Source: ET Energy World
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Corporate clean energy PPAs surge globally, but India sees a dropWith businesses more eager than ever to make bold clean energy promises, the global market for corporate renewable energy power purchase agreements continues to surge. Last year, corporations contracted an unprecedented volume of renewable energy projects, up more than 40% from the previous year’s record, finds Bloomberg New Energy Finance (BNEF). Some 19.5 GW of clean energy contracts were signed by more than 100 corporations in 23 different countries in 2019, BNEF finds in its 1H 2020 Corporate Energy Market Outlook. This was up from 13.6 GW in 2018, and more than triple the activity... Read more.. Date : Jan 31 Source: PV Magazine India
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MNRE issues clarification for phase II of the solar rooftop programmeThe Ministry for New and Renewable Energy (MNRE) issued a clarification on Thursday regarding the second phase of the solar rooftop programme, for which it provides Central Financial Assistance (CFA). Meant for the residential sector, the CFA is provided at a 40 per cent of the benchmark cost, or the cost discovered through the transparent bidding by the implementing agency- whichever is lower for rooftop systems. The CFA is applicable up to a capacity of 3 kW. For a total system capacity beyond 3 kW but up to 10 kW, CFA is provided at 20 per cent of the benchmark cost, or again through... Read more.. Date : Jan 31 Source: ET Energy World
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Modified electricity grid code likely to include renewable energy, cybersecurityThe upcoming version of the Indian Electricity Grid Code (IEGC) is expected to include new provisions to accommodate the increasing penetration of renewable energy and address the potential threats stemming from cyberattacks. An expert group has prepared the draft IEGC, 2020, which aims to “strengthen grid security and resilience with emphasis on flexibility of resources”. The group has reviewed the existing version of IEGC, implemented since 2010, “based on past experience, recent developments in the power systems, changes in market structure and the future challenges”. The expert group... Read more.. Date : Jan 30 Source: Financial Express
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