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Sustainability Outlook Headlines

Ideaspring Capital, Rebright Partners and ABB Technology Ventures invest in Numocity

Numocity Technologies, a tech startup focused on providing digital solutions for electric mobility infrastructure raised an undisclosed amount from Ideaspring Capital, Rebright Partners and ABB Technology Ventures, informed the company in a release. Numocity has an end-to-end middleware solution with various use cases for the entire electric vehicle ecosystem ranging from fixed charging infrastructure, battery swap management, analytics for fleet operations and a value-added services platform built with mobility intelligence and data, claims the company. It further claims that Numocity's... Read more..

Source: ET Auto

CLP India may buy Mahindra Susten’s 160 mw solar assets by February-end

CLP India, an independent power producer, is in advance discussions with Mahindra Susten to acquire 160 mw of its operational solar energy assets as part of its strategy to grow the renewable portfolio. The deal is likely to close by February-end, two sources close to the development told FE. Earlier, CLP India and Piramal Group had submitted binding offers for Mahindra Susten’s solar assets. However, Piramal later backed out over valuations. “Given the good quality of Mahindra’s assets, the deal is likely to fetch a high premium over its current valuations,” sources said. According to... Read more..

Source: Financial Express

UK’s Intertek launches programme to support end-to end sustainability commitment in India

UK-based Intertek Group, an industrial quality assurance provider, on Tuesday said it has launched its Total Sustainability Assurance programme in India. It will provide companies with an assurance solution to enable them demonstrate their end-to-end commitment to sustainability. "With the effects of climate change becoming more apparent and requiring companies to balance rapid growth with a sustainable approach, today’s launch event follows on from the unveiling of Intertek’s Total Sustainability Assurance programme," said the company release. In India, the company has been supporting the... Read more..

Source: ET Energy World

British High Commission launches 'Green is Great' campaign in run-up to COP26

The British High Commission has launched 'Green is GREAT' campaign, an initiative to highlight the strength of the UK-India partnership on climate and sustainability in the run-up to COP26 which will be held in Glasgow later this year. The campaign is linked with climate, sustainability and business which lines up various planned activities. While speaking to ANI, British High Commissioner to India Sir Dominic Asquith said, "It is the important decade for the climate. To start the decade with an important conference at the end of this year is crucial. We face so many challenges that won't... Read more..

Source: The Economic Times

Clean power push: Govt adds over 50,000 MW in 5 years

The renewable energy sector has made rapid strides under the Modi government with 50 GW plus of new capacity coming into the grid in the last five years. This is despite the doubts being raised over the government’s target of achieving of 175 GW by 2022. The December quarter of 2019 saw India’s cumulative clean energy capacity cross 85,000 MW, of which more than 50,000 MW of new capacity addition was achieved in the past five years. As on December 31, 2019, the total grid-connected installed renewable power capacity in India stood at 85,908 MW, aided by support of several policy measures... Read more..

Source: The Hindu Business Line

Renew Power seeks $300 million in bond sale

Wind and solar energy company Renew Power is meeting investors this week as it plans to raise at least $300million via dollar bond sales across the world later this month. The money raised will be used to refinance existing debt and for funding the second tranche of projects the company has bid for under the government planned Solar Energy Corp of India (SECI)’s second tranche of green energy projects, people familiar with the issue said. “The road shows for this bond will start on Tuesday. Bankers and company officials are going to meet investors all through this week. If all goes to... Read more..

Source: ET Energy World

Tata Power Solar bags Rs 1,505 crore project from NTPC under CPSU scheme

Tata Power Solar Systems Ltd has received a letter of award from NTPC for a 250 megawatt solar project under the central public sector undertakings (CPSU) scheme. The scheme aims to set up 12,000 MW of solar capacity by government companies by financial year 2022-23. The Cabinet has already sanctioned a viability gap funding support of Rs 8,580 crore towards the scheme capped at Rs 70 lakh per MW. "This is a prestigious project for us and we are thankful to NTPC for reinforcing their confidence in our capabilities," said Ashish Khanna, President (Renewables) at Tata Power. "It consolidates... Read more..

Source: ET Energy World

Solar power association writes to Gadkari against NTPC's tender conditions

State-owned NTPC Ltd's refusal to exempt small and medium enterprises from earnest money deposits for its solar power tenders has riled an association of solar energy industry which has now petitioned the government seeking its intervention. The National Solar Energy Federation of India -- an umbrella organisation representing solar energy companies -- on January 7 wrote to Nitin Gadkari, minister for micro, small and medium enterprises, seeking his intervention in issuing a direction to NTPC to abide with the government policy of not seeking tender fee from MSMEs as well as exempting them... Read more..

Source: ET Energy World

Ansys collaborates with major Indian OEMs for developing EVs

Ansys, the global engineering simulation and 3D designing software company is working with many major OEMs in developing electric vehicles in India. This is the direct outcome of the rising need for simulation in the ideation, designing and final execution of new age vehicles. As sustainable mobility and the EV megatrend rides high across the Indian automobile world, Ansys solutions are used across the life cycle of vehicles. Rafiq Somani, Area VP, India and South Asia Pacific, Ansys said, “There was pressure on automobile OEMs with BS VI and now the EVs. There are quite a lot of... Read more..

Source: AutoCar Professional

Global sustainable debt grew 78 per cent to $465 billion in 2019: BNEF

The volume of sustainable debt issued globally in 2019 stood at $465 billion, up 78 per cent from $261.4 billion in 2018. Also, all-time cumulative issuance of sustainable debt crossed the $1 trillion barrier reaching $1.17 trillion by December 31, 2019, according to Bloomberg New Energy Finance (BNEF). Sustainable debt covers a variety of instruments, from the area of green bonds to the fast-emerging category of sustainability-linked loans. "Green bonds, constituting more than half of the entire sustainable debt market in 2019, saw $271 billion issued – up from $182 billion in 2018,"... Read more..

Source: ET Energy World

Govt plans to restrict coal supply to Andhra Pradesh

The Centre is considering restriction of coal supplies and all sanctioned loans and funding to Andhra Pradesh from central public sector units (PSUs) such as Power Finance Corp. Ltd (PFC) and REC Ltd, if the state government refuses to reconsider its decision to revise renewable energy contracts, according to two people aware of the development. Such a measure is likely to be adopted in case of all states that renege on power purchase agreements (PPAs), as such moves send a negative signal to international investors and imperil India’s ability to attract overseas investments. “This is not... Read more..

Source: Livemint

Punjab seeks central assistance for biomass projects

Pointing out that the state government had already submitted a detailed proposal on the subject, Punjab Chief Minister Captain Amarinder Singh has written to the Centre reiterating his demand for Viability Gap Funding (VGF) for Biomass Power Projects and Biomass Solar Hybrid Power Projects to check stubble burning in the state. In a letter to Union Minister of State for Power, New & Renewable Energy, RK Singh, the Chief Minister has sought his personal attention towards framing of scheme/ guidelines for promoting biomass power projects by providing one-time viability gap funding in a... Read more..

Source: ET Energy World

Haryana, Karnataka and Kerala top State Energy Efficiency Index 2019

Haryana, Karnataka and Kerala have topped the State Energy Efficiency Index 2019. This index tracks the progress of Energy Efficiency (EE) initiatives in 36 states and union territories based on 97 significant indicators, an official statement said. The State Energy Efficiency Index categorises states as ‘Front Runner’, ‘Achiever’, ‘Contender’ and ‘Aspirant’ based on their efforts and achievements towards energy efficiency implementation. “The top performing states in the State EE Index 2019 - Haryana, Kerala and Karnataka - are in the ‘Achiever’ category. Since there isn’t any ‘front... Read more..

Source: The Hindu Business Line

Panasonic's Indian subsidiary eyes Rs 500-cr revenue from solar business

Japan-based Panasonic Corporation's Indian subsidiary Panasonic Life Solutions is eyeing Rs 500 crore revenues from its solar business in the next 3-4 years, with focus to become a leading rooftop EPC player. Panasonic Life Solutions India, earlier known as Anchor Electricals, is also looking to expand its electric vehicle charging offerings across the country. "We entered the solar market in 2014-15 and have established ourselves as a rooftop EPC (engineering, procurement, and construction) solutions provider. We have been successful in executing projects across the country as well as in... Read more..

Source: Business Standard

Auto industry seeks bold fiscal measures in the Budget to revive growth

In middle of a prolonged slowdown, the automobile industry has asked the government to take bold fiscal measures to revive the sector that has reported its worst-ever sales decline in two decades during 2019, industry sources said. In the upcoming Union Budget, the auto industry has sought measures, such as reduction in GST rates on vehicles and abolition of duty on import of lithium-ion battery cells, to encourage electric mobility. The industry, which has been facing a downturn for almost a year now, has also sought an incentive-based scrappage policy and an increase in re-registration... Read more..

Source: ET Auto

EV sector looks at tie-ups with educational institutions

The Society for Smart E-Mobility plans to have tripartite agreements with the industry and educational institutions in different cities to promote indigenisation of parts required for e-vehicles. G.R. Mohan, secretary of the Society, said that an interactive meeting to facilitate such MoUs in Coimbatore was held here on Saturday. Representatives of five industries that are into the EV (electric vehicles) sector and five major engineering colleges took part. The issues that the EV sector in India needs to address are: building testing facilities, promoting research and development, and... Read more..

Source: The Hindu

Mahindra outlines its electric mobility roadmap

In the past decade, electric mobility has emerged as a major trend in the automotive industry, with great strides being made in terms of practicality and affordability. Mahindra, a company that has been the bellwether of electric vehicles in India, plans to accelerate its efforts in this space in the months ahead. The company recently outlined its electric mobility roadmap, including its upcoming products and technologies. Contrary to some of the other OEMs in the industry, the home-grown automaker intends to direct its concerted efforts more towards the fleet segment, rather than private... Read more..

Source: AutoCar India

Volvo to launch its first electric vehicle in India in 3 years

Swedish luxury car company Volvo will launch its first fully electric car, the XC40, in India in late 2021 or early 2022, a company official told Moneycontrol. Built on the compact modular architecture platform (CMA), the XC40 is presently sold in India with a petrol engine. The company recently discontinued the diesel version. The sports utility vehicle (SUV) is the smallest of the three SUVs Volvo sells in India. It is also one of Volvo's best-selling products for Volvo in India, contributing 25 percent of its sales. The XC40 is one of the first to get the newly developed CMA platform,... Read more..

Source: Money Control

1,000 Mahindra EVs Power Lithium Urban Technologies' Fleet

Bengaluru-based corporate transport service startup Lithium Urban Technologies and Mahindra and Mahindra (M&M) said on Thursday, January 9, 2020, that through their partnership they have inducted 1,000 Electric Vehicles in the fleet so far. Having clocked 100 million ekms, with over 500 Mahindra EVs running more than 1 lakh ekms, this partnership is further aimed to transform employee transportation solution in India and spur electric mobility adoption in the country. Infact 75+ Mahindra EVs have even clocked over 2 lakh ekms, a significant achievement in an otherwise nascent EV... Read more..

Source: Business World

Punjab: Ludhiana Smart City Mission to begin phase II of solar project soon

The Ludhiana Smart City mission will soon begin second phase of installation of rooftop solar panels and under this government schools and colleges will be covered. The Ludhiana Smart city limited and Punjab Energy Development Authority (PEDA) has signed an agreement wherein the latter will install the rooftop solar panels while funding will come through Smart City Mission. For this project the site survey is almost over and officials have claimed that by the last week of January or first week of February installation process will start. According to the proposal, government schools,... Read more..

Source: ET Energy World

Over 150 GW of renewable energy projects installed or in pipeline

India now has over 150 gigawatt (GW) of renewable energy generation capacity either installed or in pipeline according to data shared by the Ministry of New and Renewable Energy. An official statement said 84.40 GW of renewable energy generation capacity has been installed in the country. Another 36.68 GW is currently under implementation while 29.58 GW has been tendered. This takes the total installed and in the pipeline renewable energy generation capacity to 150.66 GW. In 2015, it was decided that 175 GW of renewable energy capacity will be installed by 2022. This includes 100 GW from... Read more..

Source: The Hindu Business Line

Railways to source 1.2 GW green energy

One of the significant actions taken in this direction has been installation of solar panels at stations and service buildings across the zone. All stations in a particular section of South Central Railway have been provided with solar panels to tap the natural energy. Towards this goal, 500 MW solar capacity will be installed on the roofs of railway department buildings which will be used to meet non-traction loads at railway stations. Indian Railways plans to source about 1.2 GW power from renewable energy sources by 2021-22 across all zones and production units. Of this, about 1,000 MW... Read more..

Source: The Economic Times

Green developers in AP lost Rs 1,400 cr since August

Renewable energy developers have lost revenue of Rs 1,400 crore due to curtailment of wind and solar power in Andhra Pradesh since August last year, said industry executives. “Out of the 7,307 mw of renewable energy installed in Andhra Pradesh, 20-25% of solar power and 50-60% of wind power is being curtailed,” said one of the executives, who did not wish to be identified. This is despite the Andhra Pradesh High Court having directed distribution companies in September not to curtail renewable power. “The situation has gotten out of hand. They are violating the order of the court,” a... Read more..

Source: ET Energy World

Mahindra Renewables plans $171 mn investment for solar project in Rajasthan

Mahindra Renewables Private Limited (MRPL), a wholly owned subsidiary of Mahindra Group (worth $20.7 billion) cleantech arm Mahindra Susten Private Ltd (MSPL) is planning to invest around $171 million to set up a 250 mega watt (MW) solar power project in Rajasthan. The project will be backed by International Finance Corporation (IFC). The proposed project will consume around 1200 acres (486 hectares) at Bhiv ji ka gaon Village in Bap Tehsil, Jodhpur District in Rajasthan. IFC's estimated project cost is Rupee equivalent of around $171 million. The project involves an IFC ‘A’ Loan... Read more..

Source: Business Standard

ABB Power Grids, Ashok Leyland Team Up For Greener Electric Buses

Ashok Leyland and ABB Power Products and Systems India have signed a memorandum of understanding (MoU) in the public e-mobility space to expand the ecosystem for efficient and greener electric bus transportation systems in India. The pact outlines a partnership to develop a pilot electric bus based on ABB's innovative flash-charge technology called TOSA which tops up the battery in just seconds while passengers get on and off the bus. This avoids the need to take the vehicle out of service for recharging every few hours or having a replacement bus ready, thus minimising the size of the... Read more..

Source: Business World