Sustainability Outlook Headlines

Reverse bidding in renewable energy sector to continue

The government will not accept any unreasonable bids for renewables like solar and wind and continue to conduct auctions via reverse bidding as it is transparent, Union Minister R K Singh said Tuesday. 

The statement assumes significance as the renewable energy ministry has planned to auction 61 GW of renewables capacity in 2018-19 and 56 GW in 2019-20. 

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NIT Goa to be India’s 1st fully solar-powered technical institute

The National Institute of Technology (NIT), Goa, has received funding of Rs 497 crore from the Union human resource development (HRD) ministry for construction of the first phase of its permanent campus at Cuncolim. Once ready, the institute will be the first technical institute in India to be fully solar-powered, NIT Goa director Gopal Mugeraya said. 

The construction work is slated to begin in October with... Read more..

PAT-1 cycle exceeds its energy saving targets by 30%

The first cycle of the Perform Achieve and Trade (PAT) scheme has exceeded it’s goals and resulted in a saving of ₹ 9,500 crore to participating industries.

Speaking at an event to report the savings accrued under the first cycle, Minister for Power and Renewable Energy, R K Singh said that PAT-1 has overshot it’s targeted energy savings by 30 per cent.

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First hybrid energy project using wind-solar power to be commissioned in Goa

While renewable energy generation in Goa is currently limited to solar power, the first hybrid energy project using wind and solar power is ready for commissioning at Verna industrial estate.

On Monday officials of Revayu Energy, a Haryana based , company, said that installation of a hybrid (wind and solar) pilot project of capacity 4 kw is complete at GCCI premises, Verna, and  will soon start supplying... Read more..

Acme commissions 200 MW solar plant at Bhadla in Rajasthan

Independent power producer Acme Friday said it has commissioned its 200 megawatt (mw) solar power plant at Bhadla in Rajasthan.

With the commissioning of the Bhadla solar park, it's total operating capacity in solar power now stands at 2,400 mw and the company's total portfolio of solar projects stands at over 5,500 mw making it the largest solar power portfolio in the country, Acme said in a statement.... Read more..

West Bengal to commission floating solar power plants next year

The West Bengal government is the process of commissioning floating solar power plants by next year, state minister for power and non-renewable energy Sobhandev Chattterjee said.

The two plants would come up at Sagardighi and Mukutmanipur with generating capacities of five MW and 100 MW respectively.

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World Bank to extend $30 billion assistance to India for development through 2022

The World Bank Group today announced it expects to extend assistance in a range between $25 billion and $30 billion to India over five years through 2022 to support its transition to a higher middle-income country by addressing key development priorities including resource efficient and inclusive growth, job creation and building human capital.

The Bank’s Board of Executive Directors today endorsed a new... Read more..

Government may ask RBI to classify renewable energy projects under priority sector lending

The Ministry of New and Renewable Energy (MNRE) is expected to write to RBI, seeking to bring renewable energy projects under priority sector lending, senior officials said. 

This comes as stress in the conventional power sector is reflecting negatively on the renewable energy sector, and project developers raise concerns around bankers being reluctant to fund renewable energy projects. 

ADB Sells $750 Million 10-Year Global Green Bond to Support Climate Change Mitigation, Adaptation in Asia and Pacific

The Asian Development Bank (ADB) has raised $750 million to help finance climate change mitigation and adaptation projects with an issue of a 10-year green bond.

“Our green bonds issued so far in 2018 have been incredibly diverse with transactions printed across currencies such as euros, Hong Kong dollars, and Swedish krona while attracting new investors to ADB’s offerings,” said ADB Treasurer Mr. Pierre Van... Read more..

Coca-Cola, Walmart to cut plastic pollution in oceans

Coca-Cola, Walmart and other big multinationals pledged on Thursday to help reduce plastic pollution in the world's oceans in support of a campaign by five of the G7 industrialized nations.

Britain, Canada, France, Germany and Italy, along with the European Union, signed the Ocean Plastics Charter at a leaders summit in Canada's Charlevoix region in June. 

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SBI to raise $500 million in maiden green bond sale

The country's largest lender State Bank is in the international bond market to raise nearly $500 million in green bonds, making it the maiden issuance for the lender. 

The tenor of the bonds is expected to be five years and the notes are to be issued by the bank's London branch. 

With this issue SBI will... Read more..

Impose 50% solar tariff as penalty for not buying power: Developers to MNRE

Solar power developers have urged the power ministry to impose 50 per cent tariff penalty on distribution companies that are not buying clean power despite their purchase agreements, sources said. 

At a meeting of stakeholders called by the Ministry of New and Renewable Energy (MNRE) Wednesday, solar power developers proposed that discoms should be penalised 50 per cent of the agreed tariff for the part of... Read more..