Sustainability Outlook Headlines

Will India Become The Largest EV Market In The World By 2030?

The future of mobility is clean and sustainable and it is only a matter of time that India makes a bigger splash in the global green mobility market. The World Economic Forum and Ola Electric highlighted that the Indian automobile industry is one of the fastest-growing markets globally, but it still just makes up 0.5% of the global EV market. The goal is now to come on par with China, the USA and Japan in terms of the manufacturing and sales of passenger and commercial electric vehicles. According to DataLabs by Inc42, in 2018, India emerged as the seventh-largest manufacturer of... Read more..

Date : Apr 14

Source: Inc42

Will mandates change fate of distributed renewables post COVID-19?

India’s renewable energy (RE) sector relies mostly on large-scale solar and wind installations. Distributed renewable energy (DRE), a part of the sector which includes solar rooftop, open-access solar and solar water pumps, is an already struggling sector. The sector's position has been aggravated by the novel coronavirus disease (COVID-19) pandemic. “The segment was already facing headwinds this financial year. Policy and regulatory challenges along with financial issues have always hampered the sector’s growth. Now, it has lost momentum due to COVID-19,” said Vinay Rustagi, managing... Read more..

Date : Apr 14

Source: Down to Earth

No plans to slow down renewable energy growth target, says MNRE Jt secretary

The government has no plans to slash its target of achieving 175 gigawatt of renewable energy capacity in the country by 2022 in the wake of the Covid-19 outbreak and the nationwide lockdown. “We are not going to slow down right now,” Amitesh Kumar Sinha, joint secretary of the Ministry of New and Renewable Energy (MNRE) said on Thursday. The country will receive raw materials for building renewable energy capacity of 6-7 GW, which are currently stuck in Chinese ports, in another month, Sinha said in a web conference organised by RE consultancy firm Bridge to India. He also said renewable... Read more..

Date : Apr 13

Source: ET Energy World

SECI Powers On with RFS For 2500 MW Project at Karnataka

The Solar Energy Corporation of India (SECI) yesterday issued a Request for Selection (RfS) document for selection of solar power developers for setting up of 2500 MW ISTS-Connected Solar PV Power Projects at Ultra Mega Renewable Energy Power Park (UMREPP) in Koppal District, Karanataka under Tariff-based Competitive Bidding (ISTS-X). Approximately 13000 Acres of land on lease basis is available in Talakal and surrounding villages of Koppal District of Karnataka, India for this project. The scope of the project includes includes the acquisition of land, connectivity, and obtaining long-... Read more..

Date : Apr 13

Source: Saur Energy International

Green certificate sales up 79 per cent at 8.38 lakh units in March

Sales of renewable energy certificates rose over 79 per cent to 8.38 lakh units in March compared to 4.68 lakh in the same month a year ago owing to good supply, according to official data. Renewable Energy Certificates (RECs) are a type of market-based instrument. One REC is created when one megawatt hour of electricity is generated from an eligible renewable energy source. According to official data, a total of 5.2 lakh RECs were traded on the Indian Energy Exchange (IEX) in March, compared to 2.25 lakh in the same month last year. Power Exchange of India (PXIL) recorded sale of 3.18... Read more..

Date : Apr 13

Source: ET Energy World

Petrol pump operators seek financial support as losses mount on falling fuel sales

With coronavirus eviscerating demand, petrol pump operators on Friday said per pump sales have fallen to less than one-tenth, leading to heavy losses in establishment and employee cost. The All India Petroleum Dealers Association (AIPDA), which claims to represent the bulk of about 64,000 petrol pump operators in the country, sought a financial relief package from the oil companies to help business run. In a letter to the marketing heads of three state-owned oil firms, AIPDA president Ajay Bansal said in line with national duty, petrol pump operators have been running outlets right through... Read more..

Date : Apr 13

Source: Money Control

OPEC+ agrees to cut world oil production

The oil-producing countries of the OPEC+ alliance have agreed to cut their crude production by some 9.7 million barrels per day (mbd) in an historic accord to stabilize world petroleum prices. "At the end of the telematic ministerial meeting of the OPEC+ members and those that are not a part of OPEC+ an agreement was signed to cut petroleum production by 9.7 million barrels per day over two months, starting on May 1," Kazakhstan's Energy Ministry in a statement on sunday. The Iranian Petroleum Ministry, meanwhile, said on Twitter that the OPEC+ members accepted Mexico's proposal to reduce... Read more..

Date : Apr 13

Source: ET Energy World

EV startup Zypp plans to raise $50 million over five years

Gurugram-based electric vehicle startup Zypp is planning to raise around $50 million over the next five years to expand operations. The company, that currently provides electric scooters on rent to consumers mostly in the NCR, is looking at raising $12 million over the next 6-7 months. "We are in talks with 6-7 venture capitalists for the next round of funding which we are hopeful of closing over the next six months. We are actively looking to raise around $10-12 million dollars in the next round," Zypp chief executive officer (CEO) and co-founder Akash Gupta told ETEnergyworld in an... Read more..

Date : Apr 13

Source: ET Energy World

Platinum Green tag for Kochi Metro wing

The Kochi Metro’s Operations Command Centre (OCC) at Muttom and six new metro stations have been awarded Platinum Green certification. Besides the OCC, the Ernakulam south, Kadavanthra, Elamkulam, Vytilla, Thykoodam and Petta stations have received the certification. Its existing 16 stations had received the certification earlier. The Indian Green Building Council (IGBC) has launched IGBC Green Mass Rapid Transit System (MRTS) rating to encourage green concepts in the design, construction and operation of all new rail-based MRTS projects. The rating system verified Kochi Metro’s efforts to... Read more..

Date : Apr 13

Source: The New Indian Express

Covid-19: World Bank sees FY21 India growth at 1.5-2.8%, slowest since 1991

India is likely to record its worst growth performance since the 1991 liberalisation this fiscal year as the coronavirus outbreak severely disrupts the economy, the World Bank said on Sunday. India's economy is expected to grow 1.5 per cent to 2.8 per cent in the 2020-21 fiscal which started on April 1, the World Bank said in its South Asia Economic Focus report. It estimated India will grow 4.8 per cent to 5 per cent in the 2019-20 fiscal that ended on March 31. The Covid-19 outbreak came at a time when India's economy was already slowing due to persistent financial sector weaknesses, the... Read more..

Date : Apr 13

Source: Business Standard

Average renewable energy tariff to remain competitive: Crisil

Even as the government’s decision to lift tariff ceiling for renewable energy is likely to give a fillip to capacity addition, the average tariff will continue to be competitive, mainly due to lower module cost and continued tendering of large capacities, ratings agency Crisil said. Last month, the Ministry of New and Renewable Energy (MNRE) removed tariff ceilings from renewable energy tenders will give the beleaguered industry a much-needed leg-up. The tariff ceiling was one of the reasons cited by the industry players for poor participation in tenders by Solar Energy Corporation of... Read more..

Date : Apr 10

Source: Energy Infra Post

Sterlite Power to lead execution of Green Energy Corridor Project

A Sterlite Power-led partnership is set to implement the Green Energy Corridor Project in India. The renewable energy project is expected to create an alternative to fossil fuel-based energy, in a bid to fight climate change and reduce carbon emissions. As part of the partnership, GE Grid Solutions will design, test and commission a 765kV gas-insulated substation in Vadora and an air-insulated station of the same capacity at Lakadia, in the western state of Gujrat. Partner organisations will provide equipment and engineering, procurement and construction solutions to commission 343... Read more..

Date : Apr 10

Source: Energy Live News

NLC, ReNew, Azure added highest capacity of utility-scale solar projects in 2019: Report

Neyveli Lignite Corporation (NLC), ReNew Power, Azure Power, SB Energy, and Acme were the top five developers which have commissioned maximum capacity of utility-scale solar projects in the country in calender year 2019 (CY19), according to a recent study. These firms contributed about 50 per cent of total solar capacity installations in the country last year. The report estimated about 8.3 gigawatt (GW) of new utility-scale solar projects and 2 GW of rooftop solar projects to be commissioned in 2020. “Amongst rooftop solar installers, Cleantech Solar, Fourth Partner, Tata Power Solar,... Read more..

Date : Apr 10

Source: ET Energy World

L&T bags 500 MW solar EPC contracts

Larsen & Toubro (L&T) has won large EPC orders on the domestic and international fronts to establish solar plants totaling more than 500 MW. The work for these grid-connected power plants also entails setting up related power evacuation and interconnection systems. In addition, the company has won significant contracts in India and overseas for power transmission and distribution. In Kuwait, L&T has bagged an order to upgrade substations and related power facilities in the Kuwait National Petroleum Company’s Mina Al Ahmadi oil refinery. The revamped network of distribution... Read more..

Date : Apr 10

Source: PV Magazine India

Adani Green Energy generation capacity jumps 30 per cent to 2.5 GW in FY20

Clean energy firm Adani Green Energy Ltd (AGEL) on Thursday said its power generation capacity saw a 30 per cent rise at 2,545 MW in FY 2019-20, while total electricity supplies jumped 14.5 per cent to 4,310 million units (MU) during the fiscal. "AGEL has added 587 MW capacity in FY20 and net export (power supply to consumer) of 4,310 million units, up by 14.5 per cent Y-o-Y," a company statement said. Its power generation capacity rose to 2,545 MW in 2019-20 from 1,958 MW in 2018-19. Its solar power generation capacity rose by 250 MW from 1,898 in 2018-19 to 2,148 MW in 2019-20. Similarly... Read more..

Date : Apr 10

Source: ET Energy World

Covid-19 outbreak could plunge half million people into poverty, losses deeper than 2008 crisis: Oxfam

The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday. The report released by the Nairobi-based charity ahead of next week's International Monetary Fund (IMF)/World Bank annual meeting calculated the impact of the crisis on global poverty due to shrinking household incomes or consumption. "The economic crisis that is rapidly unfolding is deeper than the 2008 global financial crisis," the report found. "The estimates show that, regardless of... Read more..

Date : Apr 10

Source: India Today

Coal investments can risk post-Covid economic stimulus: Carbon Tracker

China and other nations could be burdened with uneconomic and climate-unfriendly coal power for decades if they build new capacity to stimulate their economies in the wake of the Covid-19 pandemic, a move China appears to be already considering, Carbon Tracker warned in a new report on Wednesday. The financial think tank finds that 46 per cent of global coal plants will be running at a loss in 2020, rising to 52 per cent by 2030. However, renewables and gas are already outcompeting coal worldwide and if governments deregulate power markets to allow greater competition, the percentage of... Read more..

Date : Apr 9

Source: ET Energy World

States with highest growth in solar, wind capacity also those worst-hit by coronavirus

India’s top 10 worst-hit states in terms of confirmed coronavirus cases also happen to be those which registered maximum addition of solar and wind energy generation capacity in 2019. There is no causal link between the geographical spread of coronavirus infections and renewable energy capacity addition. An ETEnergyworld analysis shows how the growth of the renewable energy capacity is at risk owing to the lockdown imposed across states. The analysis that superimposed the two data sets, obtained from government records, shows states such as Tamil Nadu, Karnataka, Rajasthan, Andhra Pradesh... Read more..

Date : Apr 9

Source: ET Energy World

Covid-19 impact on India’s energy storage industry

China is dominant in the Lithium-ion (Li-ion) battery manufacturing and supply chain, accounting for three-quarters of battery manufacturing capacity. The onset of Covid-19 has created a series of disruptions in the supply chain for Li-ion batteries, which will also impact the Indian electric vehicles and stationary energy storage market. Limited mobility due to Covid-19 lockdown has impacted shipments from Indian Li-ion battery solution providers too. “Since our offices remain shut, we will be unable to ship out any orders till the lockdown is lifted, which means we won’t be able to ship... Read more..

Date : Apr 9

Source: PV Magazine India

Wildlife destruction 'not a slippery slope but a series of cliff edges'

Wildlife species will die out and natural ecosystems collapse in the near future if the climate crisis goes unchecked, scientists have warned, as new research shows that the natural world is at far greater risk from climate breakdown than previously thought. Catastrophe could strike this decade for some species, as key temperature thresholds are crossed. Instead of the anticipated gradual decline of species, there are likely to be a series of sudden collapses. Ocean ecosystems will be first hit, as the seas have already warmed to an unprecedented extent, and problems such as lack of oxygen... Read more..

Date : Apr 9

Source: The Guardian

MNRE extends ALMM enlistment date for solar cell and module manufacturers

Solar cell and module manufacturers now have additional six months—until September 30, 2020—to get enlisted with the MNRE’s Approved List of Models and Manufacturers (ALMM). Only products and companies making to the list will be eligible for a wide range of government-backed projects. The decision has been taken in view of the ongoing Covid-19 crisis. “Due to temporary disruptions due to Covid-19 epidemic and the current lockdown and the prevailing situation due to such epidemic, it has been decided with the approval of Hon’ble Minister (NRE & Power) to extend the effective dates for... Read more..

Date : Apr 9

Source: PV Magazine India

REC board okays incorporation of 7 SPVs to facilitate evacuation of renewable energy

State-owned shadow banking firm REC Ltd on Wednesday said its board has approved a proposal to incorporate seven power transmission projects which would facilitate evacuation of renewable energy. These projects will evacuate clean energy from Maharashtra, Madya Pradesh, Karnataka and Rajasthan. "The board of directors of REC Ltd in its meeting held on March 25, 2020, inter-alia approved the proposal for incorporation of seven project specific special purpose vehicles (SPVs) as wholly-owned subsidiaries of REC Transmission Projects Company Ltd (RECTPCL), a wholly-owned subsidiary of REC,"... Read more..

Date : Apr 9

Source: ET Energy World

Germany-based wind turbine maker Senvion signs pact to sell Indian entity

Wind turbine manufacturer Senvion on Tuesday said it has entered into a binding agreement to sell and transfer its fully operational Indian entity to a strategic investor. Last year, the Germany-based company had announced its decision to spin off Indian operations into a standalone and separate entity after it filed for insolvency in a German court. "Senvion has entered into a binding agreement with a strategic investor to sell and transfer its fully operational Indian entity. This is further to our announcement last year where Senvion India was made an independent entity to manufacture,... Read more..

Date : Apr 8

Source: ET Energy World

Tata Power’s Renewable Arm Wins 300 MW Solar Project from NTPC

Tata Power Solar, the renewable arm of utility giant Tata Power, has received a Letter of Award (LoA) from NTPC to develop 300 MW grid-connected solar project under CPSU Scheme Phase-II. Bangalore-headquartered Tata Power Solar has won this solar photovoltaic (PV) project under the reverse bidding auction held in February at an all-inclusive price of Rs 1,730.16 crore. Commenting on winning the project, Praveer Sinha, CEO & MD of Tata Power, said that “it is projects like these which demonstrate the trust in Tata Power’s project management and execution skills. This order is a... Read more..

Date : Apr 8

Source: Saur Energy International

European investor ThomasLloyd, SolarArise launch 75 MWp solar project in Uttar Pradesh

Indian developer SolarArise—funded by UK based global investor ThomasLloyd—has launched construction of a 75 MWp solar power plant in Uttar Pradesh, the most populous state in India with some 230 million inhabitants. The investment for this project amounts to 34.9 million euros. Debt financing for the project has been secured from Power Finance Corporation Limited, a Government of India undertaking and India’s largest power sector lender—according to a press statement by ThomasLloyd. ThomasLloyd estimates the project, once commissioned, will provide renewable and cheaper electricity to... Read more..

Date : Apr 8

Source: PV Magazine India