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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..

Source: Hindustan Times

2020 could be the hottest year since records began, experts warn

The year 2020 has been marked by astounding events globally, from nearly the entire planet gripped in the clutches of Covid-19 disease, super cyclone Amphan ravaging the Bengal coast, locust attack in parts of India and other countries to the scorching heatwave. Scientists and experts believe that when it comes to the rapid rise in temperature this summer season, this year could be the hottest. A report by HT’s Hindi language publication Hindustan states the same citing a team of experts at the International Center for Climate Change and Development. According to the report, the worst heat... Read more..

Source: Hindustan Times

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..

Source: PV Magazine India

Rajasthan: Govt announces cheaper solar power for household

Now people looking to reduce their energy bill can do by putting up solar plants on their rooftops. For a kilo watt rooftop system, which generates about 350-400 units, one can pay Rs 78,000 after availing government subsidy of 40 per cent. Without subsidy, the cost of plants are estimated at Rs 43,000 per kilo watt. Rajasthan Renewable Energy Corporation Ltd (RRECL) has selected vendors who will be eligible to put up the plants. The vendors will also be responsible for getting the government subsidy and for maintenance of the solar plants for five years. RRECL has allocated 45 megawatt... Read more..

Source: ET Energy World

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..

Source: ET Energy World

NHPC board okays foray into solar power business

State-run hydro power giant NHPC on Thursday said its board has approved the proposal to foray into solar power business. NHPC is mainly into hydro power generation. "It is to inform that board of directors of NHPC Ltd in its meeting held today...has considered and approved the proposal regarding diversification of business of the company by development of Solar Power Projects as Intermediary Procurer through solar power developers,"a statement said. NHPC presently has an installation base of 7,071.2 MW from 24 power stations on ownership basis including projects taken up in Joint Venture... Read more..

Source: ET Energy World

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..

Source: ET Energy World

Tata Power to Expand EV Charger Network to 700 by FY21

In line with Tata Group’s ambition of expanding into e-mobility space via group companies, utility giant Tata Power on Thursday disclosed its substantial investment plan of expanding its network of smart electric vehicle (EV) charging points to around 700 by FY21. The country’s largest integrated utility company said in a statement that “as part of its plans to help the EV migration in India, Tata Power will be investing substantially to expand its network of smart EV charging points from around 170 now to over 700 by end of the current financial year under the Brand name of Tata Power EZ... Read more..

Source: Saur Energy International

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..

Source: Livemint

India steps on the gas to set up World Solar Bank, may take up 30% equity

India is looking to expedite the International Solar Alliance’ (ISA) playbook of setting up a World Solar Bank (WSB), that may require a total equity capital of $10 billion and a paid-up capital of $2 billion, said two people aware of the development. The plan being explored at the top levels of the National Democratic Alliance (NDA) government may involve the Bank being headquartered here, and comes in the backdrop of Beijing taking the lead in creating Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB). According to initial proposed plans reviewed by Mint,... Read more..

Source: Livemint

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..

Source: PV Magazine India

Petronas eyeing India's ACME Solar assets worth Rs 450-500 crore: Report

Malaysia’s Petronas is reportedly looking to acquire 100 MW solar power assets located in Karnataka from ACME Solar. Petronas will likely conduct the deal worth Rs 450-500 crore through its Indian arm Amplus Energy Solutions, The Economic Times reported. The Malaysian state-run Oil and Gas Company bought Amplus from I Squared Capital in 2019. Moneycontrol could not independently verify the report. Acme Solar is one of the largest solar power developers in India with a portfolio of 5.5 GW and an operational capacity of 2.9 GW and 2.6 GW of projects under various stages of development. ACME... Read more..

Source: MoneyControl

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..

Source: ET Energy World

Covid-19 intensifies need to expand sustainable energy solutions

Despite accelerated progress over the past decade, the world will fall short of ensuring universal access to affordable, reliable, sustainable and modern energy by 2030 unless efforts are scaled up significantly, a new report by several agencies said on Thursday. According to the International Energy Agency (IEA) the International Renewable Energy Agency (IRENA), the United Nations Statistics Division (UNSD), the World Bank and the World Health Organization (WHO) report -- Tracking SDG 7: The Energy Progress Report -- progress had been made on various aspects of Sustainable Development... Read more..

Source: ET Energy World

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..

Source: ET Energy World

COVID-19: Global energy investments set for a historic $400 bn plunge, says IEA

Global energy investments are set to nosedive by 20 per cent, or about $400 billion, as compared to last year due to the COVID-19 crisis, resulting in serious implications for energy security and clean energy transitions, according to a latest report by the International Energy Agency (IEA). It added that this would be the largest drop in global energy investment in history, with spending expected to plunge in every major sector from fossil fuels to renewables, and efficiency. “The historic plunge in global energy investment is deeply troubling for many reasons. It means lost jobs and... Read more..

Source: ET Energy World

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..

Source: Saur Energy International

Ola Electric acquires Etergo, plans to launch own two-wheeler next year

Ola Electric has acquired Amsterdam-based electric scooter manufacturer Etergo as it looks to launch its own two-wheelers globally next year. These scooters will be manufactured in India. While Ola did not disclose the deal value, Etergo has raised about $23.3 million to date from German automakers and through crowdfunding. “The future of mobility is electric, and the post-Covid-19 world presents an opportunity for us to accelerate the adoption of electric mobility globally,” Bhavish Aggarwal, founder of Ola Electric, said. “With electric, digitally connected capabilities, two-wheelers... Read more..

Source: ET Tech

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..

Source: Livemint

‘Badly-timed, serious infestation’: Official on locust attack

With a locust outbreak ravaging parts of western India, a Union Environment Ministry official said on Tuesday that it was a very badly-timed “serious infestation” that has occurred when the country is already in the middle of a pandemic. “Locusts are a regular feature in the country but this attack is huge. It is a once-in-a-three-decade situation and timed very badly for us as we are already dealing with coronavirus,” Soumitra Dasgupta, Inspector General, Wildlife, Ministry of Environment, told news agency PTI. The locusts are currently active in Rajasthan, Gujarat, Maharashtra, Uttar... Read more..

Source: Hindustan Times

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..

Source: Business Standard

Green Certificates Trading Mirrors Power Slowdown with 35% Drop

Renewable energy certificates (REC) sales slumped by over 35 per cent to 2.37 lakh units in April. In April 2019, total sales had crossed 3.68 lakh. The figures come from the Indian Energy Exchange, the premier platform for trading in these certificates, along ith Power Exchange of India (PXIL). RECs are a significant option for generators, providing an alternative route to sell electricity from renewable sources just like conventional electricity and offer the green attribute (RECs) separately to obligated entities to fulfil their RPO. One REC is created when one megawatt hour of... Read more..

Source: Saur Energy International

Haryana gets its first grid connection biogas plant

Haryana’s first grid-connected 1.2 MW biogas-based power plant has been commissioned at a cost of about Rs 14 crore in Morkhi village of Jind district in Haryana. The plant will have an annual power generation of 85 lakh units. The plant has been set up by Mor Bio Energy Private Limited and entire power will be purchased by the Haryana Power Purchase Centre at the tariff to be decided by Haryana Electricity Regulatory Commission (HERC). Ranjit Singh, minister of power and new and renewable energy, said a three-day trial run from March 11to 15 was done at 80% capacity by the joint team of... Read more..

Source: The Times of India

Germany to help India evaluate optimal power balancing to meet renewable energy plans by 2022

Deutsche Gesellschaftfür Internationale Zusammenarbeit (GIZ) has contracted DNV GL, world’s largest resource of independent energy experts and certification body to conduct a major control reserve study for southern region of India. It is the first control reserve study to be conducted in this part of the world and aims to quantify the control reserve requirements that are needed to balance the energy supply from wind and solar and energy demand, according to the renewable energy plans of India’s southern states by 2022. In 2016, ministry of new and renewable energy (MNRE) announced one of... Read more..

Source: The Times of India

Senvion India set to be taken over by Saudi’s Alfanar

Wind turbine manufacturer, Senvion India, is all set to be taken over by the Saudi Arabian conglomerate, Alfanar. Senvion India Pvt Ltd is part of the German company Senvion GmbH, formerly known as RE Power. It was briefly owned by the Indian wind turbine company, Suzlon between 2007 and 2015. Senvion GmbH had turned insolvent in April last year and its global assets was later taken over by Siemens Gamesa, another wind turbine major. The Indian arm of Senvion was left out—Siemens Gamesa has large operations in India and therefore didn’t need Senvion in the country—and became an independent... Read more..

Source: The Hindu Business Line