Sustainability Outlook Headlines

Basic customs duty on solar modules being planned: MNRE secy

To incentivise domestic manufacturing of solar modules and cells, the government is planning to introduce a basic customs duty (BCD) on import of equipment for the sector. The idea is to start with a small duty and gradually raise it to 20%, so that local solar power developers, who rely a lot on imports from China, don’t take a big hit in the short term. The BCD introduction will be concurrent with the removal of the current safeguard duties on import of solar equipment from China and Malaysia in July this year. Anand Kumar, secretary, ministry of new and renewable energy (MNRE), told FE... Read more..

NHPC concludes e-reverse auction for developing 2000 MW solar generation capacity amid lockdown

National Hydroelectric Power Corporation (NHPC) has successfully concluded an e-reverse auction for developing a 2000 MW of solar generation capacity at a competitive tariff of Rs. 2.55/2.56 per unit at a time business are struggling due to lockdown. The E-RA was conducted amongst 7 bidders with an aggregate capacity of 3140 MW. Against the total allocated capacity of 2000 MW, the lowest e-RA tariff of Rs 2.55/unit to Rs 2.56/ unit was achieved against the initially quoted tariff of Rs 2.71/ unit to Rs 2.78/ unit. Earlier In a series of tweets, R. K. Singh, the Union Minister of Power and... Read more..

Covid takes a toll on Saubhagya scheme in Uttar Pradesh

The pandemic triggered lockdown has gridlocked the Centre’s flagship Saubhagya scheme, which powered BJP’s poll juggernaut in 2017 assembly elections in UP with its last-mile electricity connectivity to households. UP Power Corporation Limited (UPPCL) sources said, Saubhagya’s second phase aims at electrification of 12 lakh more rural households this summer. While the state energy department managed to provide power to 5.5 lakh households, there’s uncertainty over its outreach to 6.5 lakh houses. A senior UPPCL official said, work on the Saubhagya has come to a grinding halt because of the... Read more..

Ampere Electric Vehicle announces ‘book online now and pay later’ offer

Ampere Electric Vehicle, a wholly-owned electric mobility subsidiary of Greaves Cotton, has started an offer ‘book online now and pay later’ facility for its customers and corona warriors who are out to deliver essential items for people in this challenging time. The offer enables them to buy an electric scooter at the comfort of their home by paying a nominal booking amount and rest at the time of delivery. The contactless delivery of sanitised e-scooters will be done once the market is open. “In these difficult times, our warriors, the last mile delivery staff are using Ampere’s electric... Read more..

Business rejig: PTC Financial Services to focus on new energy, sustainable segments

PTC Financial Services Ltd has restructured its business portfolio to lay focus on new energy and sustainable segments. It is evaluating some of the opportunities that will unfold once the Covid-19 pandemic situation settles down. Pawan Singh, Managing Director and CEO, PFS, said, “When I took over the reins in October 2018, it was a very challenging environment for the NBFC sector. In September 2018, the IL&FS crisis precipitated the NBFC crisis across the country. But we managed to come through this phase successfully.” “We were one of the few NBFCs who got extra lending from various... Read more..

Defining green activities – What the new EU rules mean for India

Climate change is one the defining issues of our generation. New studies show that global warming needs to be limited to 1.5°C (rather than 2°C) compared to pre-industrial levels, to avoid the worst effects of climate change. Achieving that objective requires trillions of dollars of investments, funded mostly from private enterprise. While governments could catalyse green investments in a variety of ways, coming up with a comprehensive list of “green activities” is a great place to start. As sustainable investments have grown over the last decade, the number of definitions put forth by non... Read more..

M&M subsidiary completes sale of DSPL to CLP India

Mahindra & Mahindra (M&M) on 16 April 2020 said its renewable energy subsidiary completed sale of its arm Divine Solren to CLP India for Rs 124.47 crore. Mahindra & Mahindra's (M&M) wholly owned step-down subsidiary, Mahindra Renewables (MRPL), has completed the sale of the entire paid-up equity share capital of 1.20 crore equity shares held by the company in Divine Solren (DSPL) to CLP India, for a total consideration of Rs 124.47 crore. The transaction was initiated on 21 February 2020 and was expected to be completed by 31 May 2020. On the exchanges, the disclosure was... Read more..

No penalty for not installing rooftop solar plants in Chandigarh, for now

Even though March 31 had been set as the last date to install solar plants in residential houses, in the wake of lockdown, the UT administration has decided not to impose any penalty on residents for now. Debendra Dalai, CEO, Chandigarh Renewal Energy, Science and Technology Promotion Society (Crest), said the administration would hold a meeting once the lockdown is over to decide the future course of action. "No punitive action will be taken against people for not installing solar plants on their houses during the lockdown," he said. Recently, the Union government had released Rs 5 crore... Read more..

What the Pandemic Means for Large-Scale Indian Solar Power Projects Still in the Pipeline

With the International Monetary Fund (IMF) declaring a global recession, many sectors of the Indian economy are also facing the heat of COVID-19.

A critical sector caught in the grip of this socio-economic and... Read more..

Vikram Solar bags 300-MW solar project in Rajasthan from NTPC

Green energy provider, Vikram Solar, on Wednesday said it has bagged a 300-megawatt (MW) solar plant project for Rs 1,750 crore from National Thermal Power Corporation Limited (NTPC) under the CPSU-II scheme. The solar plant would be spread across 1,500 acres in Rajasthan and is slated to be completed in 18 months, the firm said in a press release. “NTPC has always focused towards supporting the green energy transition in India and we are proud to be a part of NTPC’s recent effort towards solar growth. I am certain that this 300-MW plant will see successful execution within an agreed time... Read more..

Bajaj-KTM planning to storm electric moped segment in India

Bajaj and KTM came together at start of the last decade and the partnership has proven be very fruitful so far for both the firms. Now, after a decade of launching some very intimidating products, both the companies are planning to dive into a new segment of electric mopeds. As the Pierer Mobility’s annual report suggests, both the firms (together) will enter into the electric moped segment within next few years. Both the companies have a fair share of experience when it comes to electric vehicles. While KTM already retails a few electric bikes in the international markets, Bajaj-Auto in... Read more..