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Sustainability Outlook Headlines

Inox Wind arm sells 51 pc stake in Sri Pavan Energy

Wind turbine maker Inox Wind on Friday said its arm Inox Wind Infrastructure Services has sold its entire 51 per cent stake in Sri Pavan Energy for Rs 5.1 lakh. "Our wholly owned subsidiary, Inox Wind Infrastructure Services Ltd (IWISL) has sold its entire 51 per cent shareholding held in Sri Pavan Energy Private Ltd (SPEPL) on 22nd May, 2020," it said in a regulatory filing. SPEPL has now ceased to be a subsidiary of IWISL and in turn, step down subsidiary of Inox Wind, it said. IWISL sold its entire 51 per cent shareholding, comprising 51,000 equity shares of Rs 10 each held in SPEPL, at... Read more..

Source: ET Energy World

India's annual EV sales to cross 2 million mark by 2040: BloombergNEF

The sales of electric vehicle units in India will cross two million mark by 2040 on the back of falling prices of lithium ion batteries over the next decade, according to BloombergNEF. "The cost improvements will help drive annual EV sales to above two million units by 2040, from about 3,500 units in 2019," BNEF said in its latest release, adding that falling lithium-ion battery prices over the next decade will make electric passenger vehicles competitive with internal combustion engine vehicle segments in India. However, it highlighted that the subsidies available currently for passenger... Read more..

Source: ET Energy World

80% vehicles will still run on IC engines by 2030: Bosch Ltd

Senior executives at Bosch Ltd estimate that 80% or more vehicles sold in India in 2030 will still be powered by the internal combustion engine or ICE technology. The forecast comes in contrast to the government’s ambition, which looks to achieve penetration of electric vehicles (EVs) to 30% of all vehicles sold in India by 2030. “We strongly believe that the electrification of vehicles in India will start with two- and three-wheelers and that will co-exist with ICE, which will still remain dominant upto 2030. 80% of all vehicles sold (in India) will still be ICE and upto 20% could be... Read more..

Source: Livemint

ONGC and NTPC to Form JV for Renewable Energy Business

The Oil and Natural Gas Corporation Limited (ONGC) and India’s largest power generation utility NTPC ltd are planning to set up a Joint Venture (JV) company for the renewable energy business. According to an ONGC statement, the two Maharatna’s entered into a Memorandum of Understanding (MoU) on May 21, 2020, in Delhi to formalise this arrangement. The MoU will enable both companies to achieve their targets in the renewable energy business. The MOU was signed by ONGC Director (Finance) and In-charge Business Development and Joint Ventures Subhash Kumar and Director (Commercial) NTPC A K... Read more..

Source: Saur Energy International

GE Renewable Energy Wins Gujarat’s 102.6 MW Wind Project from Powerica

USD 15 billion wind energy giant GE Renewable Energy on Thursday said that it has won the 102.6 MW of wind turbine project in Gujarat from Naresh Oberoi-led Powerica Ltd. As per the deal, GE will supply 38 of its 2.7-132 onshore wind turbines, designed for low wind speed conditions, to be installed at the Rajkot and Khambaliya wind farms in the state of Gujarat. Further, the Rajkot wind energy project is located about 40 km outside of Rajkot city whereas, the Khambaliya wind project is located 55 km outside of Jamnagar city. The two wind farms will comprise of 19 onshore wind turbines each... Read more..

Source: Saur Energy International

LG Chem halts lithium-ion battery project in India: Report

LG Chem has halted plans for its lithium-ion battery project in India as the auto sector reels under the ongoing coronavirus pandemic. The company was in talks with Renault, Mahindra & Mahindra and Hyundai for an Indian consortium for the project and regarding equity participation for the same, sources told The Economic Times. LG Chem stated the project was announced in 2018. Batteries from the project were to be supplied for electric vehicles of Hyundai, M&M, Renault and M&M’s South Korean subsidiary Ssangyong. Stating that India is still at the “beginning stage of exploring... Read more..

Source: Money Control

Indian Oil bets on hydrogen vehicle for self-reliant future mobility

Indian Oil is putting its might behind hydrogen fuel cell vehicles as its raw materials can be sourced locally, in line with the recent government call for self-reliance, and as an alternative to lithium-ion battery-powered vehicles that could raise country’s dependence on import. Indian Oil, the nation’s largest refiner and fossil fuel retailer, wants to keep itself relevant to motorists in future should vehicles shift away from polluting fossil fuels under the combined pressure of climate change obligations and technological innovations. In the last few years, it has experimented with... Read more..

Source: The Economic Times

India’s solar PV installations to fall by 23 per cent in 2020: IEA

India’s solar photovoltaic (PV) deployment is set to decrease by 23 per cent in 2020 as compared to 2019, with the largest drop anticipated in distributed PV installations, according to a latest report by the International Energy Agency. It, however, added that a rebound was expected in 2021 with capacity additions exceeding 2019 levels. “Challenges concerning the financial health of state-owned companies responsible for the distribution and sale of electricity (DISCOMs) persist, hampering faster growth of renewables. The Covid-19 crisis has put additional pressure on DISCOMs and therefore... Read more..

Source: ET Energy World

70% of India’s coal-fired power plants won’t meet 2022 deadline, report says

India’s coal-fired power plants must meet stringent new emission norms by 2022, which were set in December 2015 by the ministry of environment, forest and climate change (MoEF&CC). But a new study report by the Centre for Science and Environment (CSE) says with barely two years to go before the deadline hits them, almost 70% of the plants will not meet the emission standards. ‘Coal-based power norms: Where do we stand today’, was released on Thursday at an online event anchored by CSE director general Sunita Narain. The study presents a comprehensive assessment of the progress in... Read more..

Source: The Times of India

Concerns over Oil India’s bid to drill for hydrocarbons in Assam national park

Concerns have been raised about Oil India Limited’s (OIL) bid to drill for hydrocarbons in a national park in Assam after a similar ecological threat was perceived because of the central government’s recent approval for coal mining activities inside an elephant reserve in Upper Assam. On May 11, the Union Ministry for Environment, Forest and Climate Change (MoEFCC) gave green clearance for the extension drilling and testing of hydrocarbons at seven locations by OIL under Dibru-Saikhowa National Park area in Assam’s Tinsukia district. The MoEFCC clearance comes close on the heels of the... Read more..

Source: Hindustan Times

Centre launches scheme to solarise entire Konark Temple, Konark town

The Ministry of New and Renewable Energy on Wednesday said the central government has launched a scheme for solarisation of Konark Sun Temple and Konark town in Odisha. "The Government of India has launched scheme for 100 per cent solarisation of Konark sun temple and Konark town," a statement by the ministry said.

The scheme envisages a 10-megawatt (MW) grid-connected solar project and various solar off-grid applications such as solar trees and solar drinking water kiosks.

The MNRE has taken up the complete solarisation of Konark Sun Temple and Konark town in Odisha.

... Read more..

Source: ET Energy World
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India steps on the gas for coal mining

As part of India’ strategy to revive economic activity, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a new auction process for awarding coal and lignite blocks on revenue sharing basis.

Earlier, blocks were awarded on a fixed payment per tonne basis which the government believed was impeding production.

The new strategy was articulated by India’s finance minister Nirmala Sitharaman on Saturday while announcing that India will further open up commercial coal mining with revenue share arrangement to boost domestic production.

The announcement... Read more..

Source: Energy Infrapost
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Renewable energy should be at the heart of virus recovery plans: IEA

The International Energy Agency on Wednesday called on governments to put clean energy at the heart of their coronavirus economic recovery plans, as it forecast the first slowdown in new renewable power installations worldwide in two decades.

The IEA warned that lockdown measures -- which at their peak affected more than half the world's population -- would have "far-reaching" consequences, as the world grapples with a crisis that has sent energy demand plummeting and threatens a deep economic contraction.

The agency, which had expected 2020 to be a bumper year for green... Read more..

Source: ET Energy World
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COVID-19 is alarm bell for climate change, more outbreaks may follow: science historian

COVID-19 could well be nature’s warning against climate change because microbes are the first to ring an alarm and this could just be the first wave of the pandemic with bigger outbreaks likely to follow, according to science historian Rohit Gupta.

“Nobody in India seems to be concerned that a much larger problem is at hand: climate change. Isn’t it odd that the only thing helping us reduce carbon emissions globally — at the time we need that the most — is the coronavirus? What if this crisis is nature’s blessing in disguise?” Mr. Gupta, who graduated from IIT Kharagpur in chemical... Read more..

Source: The Hindu
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ACME to cancel India’s cheapest solar project citing Covid-19 impact

ACME Solar, which had bid India’s lowest solar tariff has decided to cancel the project. It had won the 600-Mw project in Rajasthan at a historic low rate of Rs 2.44 per unit in 2018.

The company in its petition to the Central Electricity Regulatory Commission (CERC) has cited Corona pandemic as one of the reasons for the cancelling the power purchase agreement (PPA) for the project with the government agencies.

The company has filed its petition with CERC to prevent Solar Energy Corporation of India (SECI) and Power Grid Corporation of India (PGCIL) from encashing the bank... Read more..

Source: Energy infrapost
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Climate change supercharging extreme events, scientists say, as 'super cyclone' Amphan hits Bangladesh and India

As a powerful “super cyclone” tore into the coastline of the Bay of Bengal on Wednesday (May 20), leading experts warned of the impacts climate change was having on supercharging extreme weather events.

Cyclone Amphan brought with it severe winds, very heavy rainfall and the risk of damaging storm surges as it made landfall over India’s West Bengal and Bangladesh, a region with a dense and highly vulnerable population.

It was only the second “super cyclone” to have been recorded in the north-eastern Indian ocean and the most powerful since the 1999 Odisha storm.

More... Read more..

Source: CNA
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Adani, KKR, Edelweiss keen on Mahindra Susten’s solar assets

The Adani Group, private equity firm KKR and Edelweiss Infrastructure Yield Plus Fund have separately evinced interest in acquiring 810 megawatt (MW) solar projects of Mahindra Susten, the renewable business arm of Mahindra group, said two people aware of the development.

The deal, potentially valued at about $530 million, is set to rank among the largest in India’s green energy space. It comes after CLP India emerged as the final buyer of Mahindra Susten’s 160 MW solar assets that were put on the block earlier.

“Mahindra Susten has put the projects up for sale. There is... Read more..

Source: Livemint
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Rare drop in carbon emissions a potential catalyst for India's renewable energy ambitions

India has recorded its first year-on-year drop in carbon emissions at the national level for nearly 40 years, an outcome that analysts say will strengthen the government’s push to phase out dirty fossil fuels. In a country increasingly accustomed to heavily polluted air, the global COVID-19 pandemic has resulted in rare blue skies, showcasing the possible future benefits of greater action on climate change. With heavy industries shuttered, the transport sector barely operational and demand for electricity plummeting, the country’s CO2 emissions fell by an estimated 15 per cent during the... Read more..

Source: CNA
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Rajasthan, Maharashtra added maximum utility-scale solar in Q1 2020

Rajasthan and Maharashtra added maximum utility-scale solar installations in the first quarter (Q1) of 2020 with 250 MW and 135 MW capacity additions, respectively, according to a recent study.

Whereas, Gujarat saw maximum wind installations with 132 MW in the same period.

State-wise RE capacity addition in Q1 2020

Rajasthan, Maharashtra added maximum utility-scale solar in Q1 2020
The study added that the renewable energy installations in Q1 of 2020 dropped by 60-70 per cent as compared to the previous quarters.

It added that in March 2020, only 222 MW of... Read more..

Source: ET Energyworld
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Brookfield in talks to acquire Piramal Enterprises’ $300 mn renewable loans

Piramal Enterprises is in talks to sell $300 million (Rs 2,200 crore) of loans advanced to three renewable energy companies to Brookfield Asset Management, two people with direct knowledge of the matter told ET.

Canada-based Brookfield plans to build a credit portfolio in India and consolidate its investments in renewable power sector, one person said.

Piramal Capital & Housing Finance, a unit of Piramal Enterprises and part of the Ajay Piramal Group, had lent about $300 million to ReNew Power, Atria Power and Acme Solar in 2016 and 2017.

At that time, the Piramal... Read more..

Source: Economic Times
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India added 8,800 Mw of coal-based power capacity last year: IEEFA

India added 8,800 Megawatt (Mw) of coal0based power generation capacity last year that was funded by state-owned financiers Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), according to Institute for Energy Economics and Financial Analysis (IEEFA) .

The total money lent for these projects was around Rs 40,223 crores, it said, adding the projects which received funding in 2019 include Udangudi Thermal Power Project of 1,600 MW capacity in Tamil Nadu, Adani Godda Power Plant of 1,600 MW capacity and Patratu Power Plant of 4,000 MW capacity in Jharkhand and... Read more..

Source: ET Energyworld
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How COVID-19 might impact India's renewable energy transition

First, India’s renewable energy ambitions are among the most aggressive in the world. In 2014, India announced a short-term target of 175 GW of renewable energy by 2022, which wouldn’t require major grid upgrades or storage. Coal – which accounts for half of India’s energy – is being replaced by renewable energy, at least for most new electricity. Longer term, India is moving towards electrifying mobility with electric vehicles (EVs).

Second, while the electrical grid can balance supply and demand, India’s financial balance was always precarious. Social welfare redistribution has... Read more..

Source: World Economic Forum
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India's Maharashtra clears solar tariff awarded by local DISCOM

The Maharashtra Electricity Regulatory Commission (MERC) has given the green light to a local distribution company, or DISCOM, to procure 350 MW of solar power at a tariff of INR 2.90 (USD 0.038/EUR 0.035) per kWh.

The commission has said, as quoted by Mercom India, that the tariff falls within an acceptable range for solar projects in the state considering the current market conditions.

The DISCOM, namely Maharashtra State Electricity Distribution Co Ltd (MSEDCL), turned to MERC for approval of the tariff after awarding the above-mentioned capacity in an undersubscribed 500-... Read more..

Source: Renewables Now
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India lowers solar tariffs to favour local production

In the second week of April 2020, the Ministry of New and Renewable Energy (MNRE) announced a reduction in tariff by 70 paisa to INR 2.8 (USD 4 cents) per unit under the second phase of the Central Public Sector Undertaking (CPSU) programme, for the development 12 GW of solar projects. The ministry also increased the timeframe for implementation of these projects from 18 to 24 months.

An order from the MNRE’s office amending the scheme stated, “The usage charge would not be more than Rs 2.8 per unit, which shall be exclusive to any other third party charges like wheeling and... Read more..

Source: India Climate Dialog
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Curbs are wind in sails for green firms

The nearly two-month-long lockdown has drastically cut pollution levels in India and influenced local weather, thereby improving solar radiation and wind patterns, bringing cheer to solar and wind energy developers.

While this has helped improve electricity generation, it comes at a time when the lockdown has led to a drop in the country’s power demand. The lockdown, one of the world’s strictest, has now been extended till 31 May although many restrictions have been eased.

“The lockdown has had a positive impact on renewable power generation. We are seeing an over 5-10%... Read more..

Source: Livemint
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