Sustainability Outlook Headlines

Adani Green Energy's Kamuthi solar plant turns water positive

Adani Green Energy Limited (AGEL) on Thursday said its Kamuthi solar plant in Tamil Nadu has become water positive.

A plant of a company becomes water positive when it harvests and recycles more water than what it consumes, AGEL said in a statement explaining the terminology 'water positive'.

"The 648 MW Kamuthi Solar Plant, a flagship asset of AGEL, has become the first plant of its class to turn water positive. DNV, an independent global assessment and certification agency, issued the certification following a rigorous audit conducted on the plant's water management in 2020... Read more..

SJVN has emerged as preferred bidder over NTPC and received the letter of intent for the deal

State-run hydropower generator SJVN Ltd has outbid NTPC Ltd to emerge as the preferred bidder for PTC India Ltd’s 288-megawatts (MW) wind power assets spread across Madhya Pradesh, Karnataka, and Andhra Pradesh, two people aware of the development said.

SJVN Ltd has received the letter of intent (LoI) for the deal that has an enterprise value of around ₹2,000 crore. This is part of the country’s largest electricity trader PTC India’s strategy to exit its wind power business, owned by unit, PTC Energy Ltd.

Mint reported earlier about NTPC and SJVN competing for PTC’s wind... Read more..

Concerted global action needed for achieving affordable, clean energy for all: India at UN

India has said the Sustainable Development Goal of achieving affordable and clean energy for all will require concerted global action, strong political commitment as well as innovative ways of expanding energy access and promoting renewable energy.

"We have about 10 years to attain Sustainable Development Goal number seven, and ensure access to affordable, reliable and sustainable energy for all," Minister of State for Power and New and Renewable Energy Raj Kumar Singh said Wednesday.

Speaking at the virtual launch of the UN High Level Dialogue on Energy, Singh said that... Read more..

Odisha has most contaminated sites in India: CPCB data

Odisha topped the list of states and Union territories with the maximum number of contaminated sites, according to the Central Pollution Control Board (CPCB) data.

Of the 112 sites in India contaminated by toxic and hazardous substances, 23 were in Odisha followed by Uttar Pradesh (21) and Delhi (11), the CPCB data released March 7, 2021 said.

‘Contaminated sites’ are delineated areas in which “constituents and characteristics of the toxic and hazardous substances, caused by humans, exist at levels and in conditions which pose existing or imminent threats to human health and... Read more..

Delhi govt earmarks Rs 9,394cr to deal with pollution

The Delhi government in its annual budget for 2021-22 presented on Tuesday allocated an amount of Rs 9,394 crore to improve the city's pollution situation which constantly has been a challenging task for the last several years.

The Delhi government in its annual budget for 2021-22 presented on Tuesday allocated an amount of Rs 9,394 crore to improve the city's pollution situation which constantly has been a challenging task for the last several years. Delhi Deputy Chief Minister Manish Sisodia who is also the Finance Minister in the Arvind Kejriwal-led ruling AAP government,... Read more..

Discom debt at Rs 6 trillion; negative outlook on power distribution: ICRA

Consolidated debt of state power distribution companies is estimated at Rs 6 trillion in FY2022, highest post implementation of debt restructure scheme under Ujwal Discom Assurance Yojna (Uday), ICRA said on Wednesday.

This is in addition to Rs 1.27 trillion pending discom payables to power generators as of December 2020, 30% higher on a year-on-year basis.

The credit profile of the state-owned distribution utilities continues to remain stressed due to higher level of technical and commercial (AT&C) losses compared to regulatory norms, inadequate tariffs in relation to... Read more..

Wells Fargo is the last of the Big Six banks to issue a net-zero climate pledge.

Wells Fargo announced today a series of environmental sustainability initiatives, including setting a net zero 2050 target, encompassing financed emissions. The company also announced the launch of an Institute for Sustainable Finance to manage the deployment of $500 billion of financing to sustainable businesses and projects by 2030, to support science-based research on low-carbon solutions, and to advocate for policies that enable client transitions.

In setting its new net zero pledge, Wells Fargo joins other major Wall Street banks who have also recently set goals for Paris... Read more..

IFRS Sets Strategic Direction for Sustainability Reporting Standards Board, with Initial Focus on Climate

The Trustees of the IFRS Foundation met 2-4 March 2021 to continue their analysis and discussions of the feedback received to their Consultation Paper on Sustainability Reporting (2020 Consultation).

Feedback to the 2020 Consultation confirmed an urgent need for global sustainability reporting standards and support for the Foundation to play a role in their development. The Trustees are therefore continuing their work on the establishment of an international sustainability reporting standards board within the existing governance structure of the IFRS Foundation, as set out in the... Read more..

Discom cannot terminate PPA with insolvent power company: SC

Gujarat electricity distribution and trading company - Gujarat Urja Vikas Nigam Ltd - has been barred by the Supreme Court to terminate the power purchasing agreement (PPA) with an insolvent company - Astonfield Solar (India) Pvt Ltd.

The Supreme Court on Monday dismissed an appeal by the GUVNL against an order by the National Company Law Appellate Tribunal (NCLAT), which had earlier stayed the termination of PPA on grounds that the power generator - Astonfield Solar (India) - had filed for insolvency.

The Gujarat power distribution company had moved Supreme Court saying that... Read more..

World Bank Approves $105 Million Project to Strengthen Solid Waste Management Systems in Kerala, India

WASHINGTON DC, March 09, 2021 – The World Bank Board of Executive Directors today approved a $105 million project to support Kerala in strengthening its solid waste management systems and services. The project will directly benefit over 7.5 million people in all 93 ULBs across all 14 districts in Kerala.

The Kerala Solid Waste Management Project (KSWMP) will establish an integrated solid waste management system that includes a balanced mix of decentralized and centralized waste management interventions. It will support multiple activities at local and regional levels including... Read more..

India to levy import tax on solar modules, cells from April 2022 - memo

CHENNAI (Reuters) - India will levy a customs duty of 40% on solar modules and 25% on solar cells from April 2022, according to a government document and two industry sources familiar with the matter, as it looks to cut imports and boost local manufacturing.

India wants to ramp up its renewable capacity to 175 gigawatts by 2022 and 450 GW by 2030, from about 93 GW currently, as part of its commitment under the Paris climate accords.

“Proposal of Ministry of New and Renewable Energy (MNRE) to impose Basic Customs Duty on solar cells and modules (without grandfathering of bid... Read more..

Cleanmax Solar moves into the wind-solar hybrid space

Leading rooftop solar developer Cleanmax Solar, backed by marquee investors such as Warburg Pincus and International Finance Corporation, has moved into the wind-solar hybrid projects space for the first time, commissioning 110MW of projects. It has another 62MW of such projects in the pipeline.

Cleanmax was prompted by new policies of the Gujarat and Andhra Pradesh state governments into taking this step. "In a few states, particularly Gujarat, there are supportive policies for wind-solar hybrid projects,” said Andrew Hines, Chief Commercial Officer, Cleanmax Solar. “Gujarat... Read more..