Sustainability Outlook Headlines

1,000 shifted amid Assam OIL well blowout

Around 1,000 people have been evacuated from the vicinity of an Oil India Limited (OIL)-operated well at Baghjan in Assam’s Tinsukia as natural gas and condensate matter continued to leak from it for the fourth day on Saturday following a blowout on Wednesday even as authorities continued efforts to bring the situation under control. The well is located near the Dibru Saikhowa National Park, which is home to endangered species like Gangetic dolphin. Residents said the blowout could have long term consequences for the area, its residents as well as flora and fauna. The recovery of a... Read more..

PM Modi stresses on setting up vertically integrated solar supply chain

Prime Minister Narendra Modi has stressed on developing a complete ecosystem for manufacturing of solar equipment in the country. The PM was chairing a meeting to review the Ministry of Power and Ministry of New and Renewable Energy’s work. Modi said developing the ecosystem for manufacturing ingots, wafers, solar cells and modules in India would help the country generate employment and various other advantages. In the agriculture sector, the Prime Minister emphasized the need to adopt a holistic approach for the entire supply chain ranging from solar water pumps to decentralized solar... Read more..

Maharashtra: Raut wants 500MW solar park in Vidarbha

Energy minister Nitin Raut has directed MSEDCL officials to facilitate the setting up of a 500MW solar park in Vidarbha.

Maharashtra Solar Manufacturer’s Assosiation (MASMA) had organized a webinar on this topic. Raut instructed MSEDCL, Maharashtra Energy Development Agency (MEDA) and MASMA to form a joint committee and work hand in hand for faster and efficient implementation of solar policies.

The minister also instructed MSEDCL & MEDA for restarting the subsidy process immediately. On request of MASMA, he also asked MSEDCL and MEDA officials to clear way for 500MW... Read more..

Softbank-Bharti renewable JV looks to raise up to $750 million

SoftBank-backed renewable energy firm SBG Cleantech is set to reach out to financial and strategic investors to raise capital to fund its ongoing and pipeline projects in India and the US. SB Energy, the renewable energy arm of SoftBank, has mandated Bank of America Merrill Lynch and Barclays to help raise $500-$750 million in SBG Cleantech, it’s 80:20 joint venture with Bharti, multiple people aware of the development said. Formal outreach to potential investors – global utilities, infrastructure-focused PE funds, pension and sovereign wealth funds (SWFs) – will start in the coming weeks... Read more..

India invites bid for One Sun One World One Grid to take on China’s Belt and Road Initiative

India has moved ahead with threading-the-needle for an ambitious global electricity grid, with the National Democratic Alliance (NDA) government on Tuesday calling for bids to roll-out the “One Sun One World One Grid" (OSOWOG) plan. The pre-bid meeting called on 5 June by ministry of new and renewable energy (MNRE), comes at a time of the coronavirus pandemic giving India the opportunity to be seen as taking a lead in evolving global strategies. “This is by far one of the most ambitious schemes undertaken by any country and is of global significance in terms of sharing economic benefits,"... Read more..

NTPC tenders 600 MW grid-connected solar EPC work

State-owned power generator NTPC has invited domestic bids for engineering, procurement and construction (EPC) package with land for development of ISTS grid-connected solar PV projects up to 600 MW capacity. The projects—to be set up under Open category—allow the use of only domestically manufactured solar cells and modules. The scope of work includes design, engineering, manufacturing, supply, packing and forwarding, transportation, unloading, storage, installation and commissioning of grid-connected solar PV projects located anywhere in India on a turnkey basis. The developer shall also... Read more..

Aluminium Association of India urges CERC to look into markets for renewable energy certificates

The Aluminium Association of India (AAI) has urged the Central Electricity Regulatory Commission to look into the market of Renewable Energy Certificates (REC) which, according to it, is resulting in artificial demand and price increase in the power exchange. AAI vice-chairman Rahul Sharma said in an official statement that the association feels it is apparent that price of solar RECs in the last one year have shot up by more than 125 per cent from Rs 1000/MWhr to Rs 2250/MWhr, resulting in an additional burden of Rs 1.25/kwh of RE energy compliance for all consumers. "This huge burden on... Read more..

Round-the-clock renewable energy tenders worry developers

Renewable energy developers are uneasy about the government’s recent focus on round-the-clock solar and wind tenders, as they feel this may not be workable in practice. The ministry of new and renewable energy conducted a round-the-clock (RTC) auction earlier this month for 400 MW of projects where the levelised tariff emerged at Rs 3.60 per unit. Renew Power was the sole winner. Developers say tender conditions do not require supplying power throughout the day, it could be called round-the-clock only in theory. "The RTC tender is not dispatchable. It doesn't state on a day to day basis... Read more..

Tata Power’s Renewable Portfolio Grows 7% to 3,883 MW in Q4 FY20

Utility giant Tata Power on Wednesday reported a 7 percent surge in its renewable energy portfolio, which includes clean and green energy projects, and stood at 3,883 MW from the corresponding quarter in FY19. The country’s one of the largest integrated power company said that it’s renewable energy business capacity crossed 2,637 MW including 932 MW of wind energy capacity and 1,705 MW of solar energy capacity. However, last year Tata Power witnessed an increase of 34 percent with higher operational revenues and EPC volume. With this, the operating renewable portfolio of the company has... Read more..

Euler Motors raises ₹20 crore as part of Series A funding

Euler Motors, the automotive technology start-up focused on commercial Electric Vehicles (EVs) said that it has raised INR 20 crore as a part of its ongoing Series A funding led by Inventus Capital India. The other investors in this round include Blume Ventures, Singapore based Jetty Ventures India Investments, and Udaan’s co-founder Sujeet Kumar. The funds will be used to launch its commercial EVs in key regions of the country and develop infrastructure for the smooth adoption of EVs, the company said in a statement. This is the first of its kind funding in the EV space during the covid-... Read more..

Boost for zero-emission sources as global capital backs Indian solar power

Indian solar power continues to draw foreign capital as plunging tariffs offer ample opportunities to invest in clean, zero-emissions energy sources. A study jointly commissioned by US-based think tank Institute for Energy Economics & Financial Analysis (IEEFA) and JMK Research & Analytics shows that the current solar tariffs hovering at Rs 2.50-2.87 per unit is 20-30 per cent cheaper than the cost of power generated by existing thermal power stations. Also, the prevailing cost of solar power is nearly half the generation cost of new coal-fired power in the country. These numbers (... Read more..