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Sustainability Outlook Headlines

12% GST on RECs: Renewable power companies move Delhi High Court

Renewable power companies have moved the Delhi High Court, seeking to exempt the renewable energy certificates (RECs) from the goods and services tax (GST). The case will also have implications on priority sector lending certificates, used widely in the banking sector. These certificates current attract a GST rate of 12 per cent.

The court on Tuesday issued notices to the Centre, the GST Council and the... Read more..

Source: Business Standard

Routematic Gears up to Become a Prevalent EV Player in the Country; Raises $2.5M in Pre Series A

In a major development towards its growth prospects, Routematic, India’s leading fleet service and transport automation software provider, has raised $2.5 million in a Pre Series A round from its existing investor VAMM ventures. Naresh Malhotra, a serial entrepreneur and ex-Coffee Day CEO led the funding for the company. With the latest round of funds, the company stands with a total raised capital of USD 4.5 Million and plans to establish itself as the biggest EV player in the country in the next 4 quarters... Read more..

Source: Business World

IIT-Madras startup Swadha Energies raises funds from angel investors

IIT-Madras startup Swadha Energies, a maker of tech-powered energy conservation solutions, has raised undisclosed amount of funds in a pre-Series A round from angel investor groups Indian Angel Network (IAN), Keiretsu Forum and Stanford Angels.

This is the startup’s first round of institutional funding, and IAN members MVS Mani, co-founder and MD, Future Focus Infotech, Nitin Zambre, former MD, ICF India,... Read more..

Source: ETEnergyWorld

India launches $5bn renewables infrastructure drive to tackle pollution issues

India is lifting a target for renewables to 227 Gigawatt (GW) of renewable energy capacity by 2022 because the country is well on its way to exceeding the previously set target, vice president Venkaiah Naidu said. The country had already indicated it will launch $5bn (€4.43bn) of transmission-line tenders in phases, beginning in June, to route a targeted 175 gigawatts (GW) of power from renewable sources into the... Read more..

Source: Business World - Independent

ADB committed highest-ever $3 bn in sovereign loans to India in 2018

ADB committed to provide USD 3 billion in sovereign loans to India in 2018, the highest level of assistance since sovereign operations began in the country in 1986, said the annual report of multilateral lending agency. In all, the Asian Development Bank (ADB), owned by 68 member countries, committed a total of USD 3.88 billion, including sovereign loans and co-financing during the year ended December 2018.... Read more..

Source: Business Line

Leading Indian Businesses Commit to Electric Vehicle Fleets by 2030

Shuttl and BSES Rajdhani Power Limited (BRPL) have become the latest Indian business giants to join The Climate Group’s EV100 initiative.Through their EV100 membership, Shuttl, a leading mobility services company and BRPL, a leading utility company, have pledged to switch their fleets to electric and install charging infrastructure where they have operations – accelerating the electric mobility transition in India... Read more..

Source: The Climate Group

Switching to electric vehicles may improve air quality: Study

Adopting electric vehicles (EVs) could improve overall air quality and lower carbon emissions, according to a study. Researchers from the Northwestern University in the US quantified the differences in air pollution generated from battery-powered electric vehicles versus internal combustion engines. They found that even... Read more..

Source: Tribune India

Delhi: South corporation to focus on solar panels, e-charging points

To encourage more people to use electric vehicles, South Delhi Municipal Corporation (SDMC) targets to develop at least 50 public charging stations by the end of this financial year. As part of its environment friendly initiatives, the corporation also hopes to install rooftop solar panels at all schools and municipal buildings by 2019-end.   Highlighting the green projects during the fourth Asia Pacific Forum on... Read more..

Source: Energy World - Economic Times

Sterling and Wilson Solar files IPO papers with SEBI to raise Rs 4,500 crore

Shapoorji Pallonji Group's renewable energy arm Sterling and Wilson Solar today filed Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise around Rs 4,500 crore.The Initial Public Offer (IPO) will be an offer for sale by the company’s chairman Khurshed Yazdi Daruvala and Shapoorji Pallonji and Company Private Limited. Daruvala holds 33.33 per cent stake,... Read more..

Source: Energy World - Economic Times

To fund SME sector, EFL to issue green masala bonds

A climate fund managed by Zurich-headquartered responsAbility and Indian NBFC Electronica Finance (EFL) have entered into an agreement for issuance of green masala bonds. This is India’s first green masala bonds issued by a private sector non-banking finance company, said Shilpa Pophale, MD, EFL. EFL has issued green masala bonds of $10 million to responsAbility-managed Global Climate Partnership Fund. ... Read more..

Source: Financial Express

New way to create fast-charging lithium-ion batteries discovered

Scientists, including one of Indian origin, have developed a way to make lithium-ion battery that can charge within minutes but still operate at a high capacity, an advance that may improve performance for smartphones and electric vehicles. A lithium-ion battery charges and discharges as lithium ions move between two electrodes, called an anode and a cathode. In a traditional lithium-ion battery, the anode is made... Read more..

Source: Energy World - Economic Times

Open for Partnerships in Electric Vehicle Space: Ashok Leyland

Commercial vehicle major Ashok Leyland may look at partnerships in electric vehicles segment in future in a bid to cut huge costs involved in developing new technologies in this space, a top company official said. In the traditional internal combustion engine segment, the Hinduja group flagship firm, however, would like to go on in its own, having built a strong portfolio of engines over the years. "We have our own... Read more..

Source: News18

SECI's 1,200 MW wind energy sale gets tepid response

Solar Energy Corporation of India’s (SECI) 1,200 MW wind auction on Monday saw a surprisingly lukewarm response from developers, with techno-commercial bids of only 600 MW received. SECI confirmed the development. Most SECI auctions are usually oversubscribed. Its last wind auction of 1200 MW in mid-February, for instance, drew bids of nearly twice the amount. ... Read more..

Source: Energy World - Economic Times

Cabinet approves renewable energy pact between India and Denmark

 

The Union cabinet chaired by Prime Minister Narendra Modi today gave its approval for a cooperation agreement between Ministry of New and Renewable Energy (MNRE) and Denmark’s Ministry for Energy, Utilities and Climate.

The pact allows strategic cooperation in renewable energy with focus on offshore wind energy and a Letter of Intent to establish an Indo-Danish Centre of Excellence for renewable energy in India. The agreement was signed in March this year.

“The areas of cooperation would include technical capacity building for management of off¬shore wind projects,... Read more..

Source: ETEnergyWorld

India will have 227 Gigawatt of renewable energy capacity by 2022: Vice President

 

India has set an ambitious target of deploying 175 Gigawatt (GW) of renewable energy capacity by 2022 which is now further raised to 227 GW considering that the country is well on its way to exceeding the previously set target, Vice President Venkaiah Naidu said today.

Addressing the fourth Resilient Cities Asia-Pacific (RCAP) Congress 2019 here, he called upon town planners to make sustainable solutions such as harvesting solar energy and enhancing green cover an essential part of town planning.

Naidu said economic growth must take environmental protection into... Read more..

Source: ETEnergyWorld

Petronas of Malyasia buys Amplus Energy in ₹2,700 crore deal

Malaysia’s state-run oil and gas company, Petroliam Nasional Bhd or Petronas on Monday said it has acquired Amplus Energy Solutions Pvt. Ltd, one of India’s largest rooftop solar power producers.

The ₹2,700 crore deal, which is expected to be completed later this month, marks Petronas’ foray into the global clean energy space. Oil giants are looking to diversify and invest in India’s emerging green economy... Read more..

Source: Livemint

Greenam Energy lays foundation stone for floating solar power plant in Tuticorin

Greenam Energy, an AM International group company with a focus on introducing new-age green and sustainable technologies, conducted the foundation laying ceremony for the construction of its 24MW floating solar power plant at the Tuticorin factory complex of feriliser maker SPIC (Southern Petrochemicals Industries Corporation).

This floating solar power plant would be located on SPIC’s large water reservoir... Read more..

Source: ETEnergyWorld

Sekura, CLP eye Kalpataru’s power transmission assets

Edelweiss Infrastructure-backed Sekura Energy and CDPQ-backed China Light & Power (CLP) India are in separate talks to acquire the power transmission assets of Kalpataru Power Transmission (KPTL) in a deal worth $200 million, according to two people aware of the development.

The assets include Jhajjar transmission line in Haryana, Satpura transmission line in MP, Alipurduar transmission line in West... Read more..

Source: ET Markets

Switching to electric vehicles may improve air quality: Study

Adopting electric vehicles (EVs) could improve overall air quality and lower carbon emissions, according to a study.

Researchers from the Northwestern University in the US quantified the differences in air pollution generated from battery-powered electric vehicles versus internal combustion engines.

They... Read more..

Source: Hindu BusinessLine

Waste management: Six Punjab cities to set up waste-to-energy plants

Three major and three small towns of Punjab have been selected to be developed as model cities as far as waste management is concerned. The major towns are Amritsar, Bathinda and Mohali and small ones are Nawanshahr, Moonak and Rupnagar.

This decision was taken in a meeting held by Justice Preetam Pal, chairman of executive committee formed on the direction of the National Green Tribunal to resolve the issue... Read more..

Source: ETEnergyWorld

GoZero Mobility to soon come up with 18 experience centres, 80 channel partners across India

British electric bikemaker GoZero Mobility today announced its pan-India expansion plan. The company, which has its Indian operations base in Kolkata, has outlined a three-pronged expansion approach, which will include 18 experience centres, 80 channel partners targeting over 1,000 retailers and online sales, to expand its retail network in the next couple of years.

GoZero Mobility recently launched two e-... Read more..

Source: India Today

India To Auction Transmission Projects Worth $5 Billion To Support RE Expansion

To ensure that the rapidly expanding renewable energy capacity and planned auctions of large-scale solar and wind energy projects have the adequate transmission capacity to supply power to demand centers across the country, India has announced expansive plans to set up transmission projects. Reuters has reported that the Indian government plans to auction 54 gigawatts of transmission projects by March 2020. The... Read more..

Source: Clean Technica

UP village becomes renewable energy model with 100% solar power use

A village in Uttar Pradesh's Amroha district is presenting itself as a model for renewable energy usage with complete dependence on solar power for all its needs. The solar-powered village in Chakanwala Panchayat named 'Mandironwala Bhuddi' has no electricity poles but is completely lit up using solar power. Solar panels... Read more..

Source: Energy World - Economic Times

CMFRI, ISRO sign MoU for mapping smaller wetlands

The Central Marine Fisheries Research Institute (CMFRI) and the Indian Space Research Organisation (ISRO) have joined together to map, validate and protect smaller wetlands in coastal region aimed at restoring them through coastal livelihood programmes. An MoU has been signed between the CMFRI and the Space Applications Centre (SAC) of the ISRO to develop a mobile app and a centralised web portal with a complete... Read more..

Source: Economic Times

Chennai: Solar power panels atop buildings to help govt save Rs 22 lakh a month

In a green move as part of the Smart City Mission, a network of solar panels, inverters, and bi-directional net meters are being installed across several corporation-owned buildings to harness clean energy. The civic body expects to save around Rs 22 lakh a month on electricity bills once the solar panels are in place on all 662 buildings. Solar panels have been installed in 460 buildings so far, and six of them... Read more..

Source: Energy World - Economic Times