Sustainability Outlook Headlines

Reliance Industries buys REC Solar for $771 million

India's Reliance Industries Ltd on Sunday announced acquisition of REC Solar Holdings for an enterprise value of $771 million from China National Bluestar (Group) Co Ltd as it seeks to become net carbon zero by 2035.

The purchase of the Norwegian solar panel maker by the conglomerate's Reliance New Energy Solar Ltd (RNESL) follows the June announcement by the parent - operator of the world's biggest refining complex - that it would invest $10.1 billion in clean energy over three years.

Reliance, owned by Asia's richest man, Mukesh Ambani, plans to build solar capacity of at... Read more..

Transmission System for Rajasthan Solar Energy zone commissioned

POWERGRID Khetri Transmission System Ltd. (PKTSL), a fully owned subsidiary of Power Grid Corporation of India Limited (POWERGRID) has commissioned the Transmission System associated with Rajasthan Solar Energy Zone (SEZ) Part-C on 4th October 2021. This is one of the largest Inter State Tariff Based Competitive Bidding (TBCB) projects established in the state of Rajasthan.

The Transmission Project involves a new 765 kV Sub-station at Khetri (Rajasthan) and connects the capital of the country at Jhatikara (Delhi) through a 765 kV Double Circuit Transmission line and also connects... Read more..

Concessions under the Vehicle Scrapping Policy

In the vehicle scrapping policy, it is proposed to have a system of incentives to nudge vehicle owners to discard old and polluting vehicles, which have higher maintenance and fuel consumption costs.

In line with the above, the Ministry of Road Transport & Highways has issued a GSR Notification 720(E) dated 05.10.2021, in the Gazette of India, which shall come into force from the 1st day of April, 2022.
As an incentive for scrapping, concession is stipulated in the motor vehicle tax for a vehicle registered against submission of "Certificate of Deposit", which is... Read more..

Tata Motors: In advanced stages to raise $1 billion for EV biz

Tata Motors is in advanced stages to raise $1 billion through a stock sale of its electric vehicle unit, the Times of India reported on Friday. The planned fund-raise will value Tata Motors’ electric vehicle (EV) unit at $8 billion, said the report.

It has attracted multiple private equity funds from the US, Middle East and Southeast Asia. TPG, California Public Employees’ Retirement System, Temasek, among others, have held discussions to lead or co-lead the financing exercise, the newspaper reported citing unnamed sources.

The Tata Group flagship has been building... Read more..

Power Minister takes review meetingon performance of REC ad PFC

Shri R.K. Singh, Union Minister of Power and New & Renewable Energy reviewed the performance of REC and PFC Limited on 4th and 5th October 2021 respectively, in the presence of Minister of State for Power Shri Krishan Pal, Secretary Power and Senior Officers of Ministry of Power, with CMDs of REC and PFC and Senior Officers of these CPSEs. The Minister highlighted Government's vision is to make available affordable power for all 24x7. In this context, he stressed the need for improving competitiveness of both institutions with a view to increase their market share. He also advised that... Read more..

Blending of gases, hydrogen key to global green energy system, says UN Official

A complex blend of electricity, various gases including natural and biogas, and hydrogen will allow the de-carbonisation of the global energy system and help countries achieve green targets, Branko Milicevic, a member of the Sustainable Energy Division of the UN Economic Commission for Europe, said on Tuesday.

"Blending of natural gas, biogas, hydrogen and other gases is key to de-carbonizing the energy system," Milicevic said at the 10th St Petersburg International Gas Forum.

According to the UN official, gases in all their forms would continue to be the main energy... Read more..

India critical part of global climate change solutions: USAID

India, which has shown global leadership in the fight against climate change, is a critical part of the global climate change solutions, a top Biden Administration official said on Wednesday.

"As one of the most innovative and vibrant economies on Earth, India, isn't simply at the mercy of a changing climate, it is a critical part of the solution," USAID Administrator Samantha Power said in her special address to the India Ideas Summit of US-India Business Council.

"That leadership was demonstrated at the leaders' climate summit in April where President (Joe) Biden and... Read more..

Indian Oil in talks with state transport undertakings for hydrogen projects

Moving in line with the government's hydrogen roadmap, public sector major Indian Oil Corporation (IOC) is in talks with state transport utilities of Kerala, Uttar Pradesh and Gujarat to set up hydrogen manufacturing units and refuelling stations. The company has also set a target of converting at least 10 per cent of its hydrogen consumption at refineries to green hydrogen soon.

The UP unit will be near Mathura refinery, while the one in Gujarat will be close to Baroda refinery. The plan is to run 10-20 buses in both the states in initial stage, said S S V Ramakumar, director of... Read more..

IOC to set up new R&D centre in Faridabad

Oil major Indian Oil Corporation Ltd (IOC) will set up a new research and development (R&D) centre at an outlay of Rs 3,200 crore in Faridabad in Haryana, a senior official said pn Wednesday.

The official also said that the oil major is focusing on converting its refineries into integrated complexes where differentiated petrochemicals are made while going ahead with development of alternative fuels.

Speaking to reporters here, S.S.V. Ramakumar, Director, R&D and Business Development, IOC, said the company will invest Rs 3,200 crore to set up the new R&D centre.... Read more..

India's Hero MotoCorp Joins The EV Race With A Drive To Overtake Competitors

Hero MotoCorp's motorcycles and scooters adorn the lobby of the company's research facility in Jaipur, 270 km south of New Delhi. Taking pride of place among the models is the iconic CD 100, the first motorcycle launched in 1985 by its former joint venture Hero Honda with Japan's Honda Motor Co. The success of the CD 100 and other models helped make New Delhi-based Hero the world's largest maker of motorcycles and scooters by units in 2001. Today Hero still has a commanding share of 37% (by units) of India's two-wheeled market, well ahead of Honda, which now has 25% and competes against... Read more..

India warns of possible power shortages

India is facing possible energy supply problems in the coming months due to coal shortages and a post-pandemic surge in demand, the power minister said in a report published Tuesday.

His comments come as China and European countries face energy crises that are disrupting global supply chains and sending prices soaring.

"Normally the demand starts coming down in the second half of October... when (the weather) starts cooling," R. K. Singh told the Indian Express in an interview.

"But it's going to be touch and go," Singh said, calling demand for electricity "... Read more..

TVS Motor signs agreement with Tata Power to develop EV ecosystem

TVS Motor Company, the flagship firm of the $8.5-billion TVS Group and India’s third-largest two-wheeler maker, has entered into a strategic partnership with Tata Power for the implementation of electric vehicle charging infrastructure (EVCI) across the country.

As part of the memorandum of understanding (MoU) signed between the two companies, apart from the implementation of EVCI, solar power technology will be deployed at TVS Motor’s select locations. The partnership aims at creating a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in... Read more..