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Sustainability Outlook Headlines

Transforming energy systems can create 42 million renewable energy jobs by 2050: IRENA

Advancing the renewables-based energy transformation could nearly quadruple renewable energy jobs to 42 million by 2050, according to a recent report by International Renewable Energy Agency (IRENA) published on Monday. “Transforming the energy system could boost cumulative global gross domestic product (GDP) gains above business-as-usual by $98 trillion between now and 2050. It would nearly quadruple renewable energy jobs to 42 million, expand employment in energy efficiency to 21 million and add 15 million in system flexibility,” said the report titled ‘Global Renewables Outlook: Energy... Read more..

Source: ET Energy World

Covid-19: India woos renewable energy equipment makers

India is eyeing renewable energy equipment manufacturers looking to shift base from China following the Covid-19 outbreak. “At a time when many companies are planning to shift their manufacturing base from China, it is an opportune time for India to bring policy changes to facilitate and catalyse manufacturing in India,” a statement from the Ministry of New and Renewable Energy (MNRE) said. MNRE has set up the renewable energy Industry Facilitation and Promotion Board to facilitate investment in the sector, the statement said. “The three power and renewable energy sector non-banking... Read more..

Source: The Hindu Business Line

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..

Source: The Financial Express

Renewable energy companies unlikely to restart construction post April 20

Construction of renewable energy projects is among the activities that the ministry of home affairs has permitted resumption of from April 20, but developers maintained it will be a while before they can do so. Whether or not sufficient labour will return to the site is the biggest concern, developers told ET. “Mobilising the team will be a challenge. If people have gone across the country, they are not going to come back,” a solar developer said, requesting anonymity. “And if the project is in a village, a local government authority might be worried about migrant labour returning and the... Read more..

Source: ET Energy World

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..

Source: The Statesman

Discoms to suffer Rs 30K cr revenue loss, face Rs 50K cr liquidity crunch due to lockdown: CII

Industry body CII on Friday said discoms are likely to suffer a net revenue loss of around Rs 30,000 crore and liquidity crunch of about Rs 50,000 crore due to the coronavirus-induced nationwide lockdown. According to government data, the discoms owe Rs 92,602 crore to Gencos as of February, 2020. In its report released on Friday, the CII has suggested host of measures like easy credit facility for discoms (from PFC and REC) to pay off its dues to Gencos, lower tariff especially for industrial and commercial consumers and deferral of indirect taxes like electricity duty, coal cess etc.... Read more..

Source: ET Energy World
Subject Tags: CII, coronavirus, DISCOMS

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..

Source: ET Energy World

Around 60 per cent of energy efficiency expenditure helps create employment

Around 60 per cent of expenditure on home energy efficiency retrofits goes towards labour sector, delivering strong employment growth, according to the International Energy Agency (IEA). "Public sector programmes focusing on homes and certain relatively standardised building types such as social housing, hospitals, office buildings, or schools have proven effective in generating significant economic benefits," IEA said on its website. In a note on 'Energy efficiency and economic stimulus' the agency said energy efficiency opportunities in new and existing buildings can be split into two... Read more..

Source: ET Energy World

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..

Source: ET Energy World

Hero Electric offers Rs 5,000 discount on online booking of electric scooters

Hero Electric has announced an online sales scheme on its entire range of electric scooters (excluding Flash lead-acid low-speed model). The online sale is limited to all online bookings made starting from 17 April to 15 May 2020 and the booking amount has been fixed at Rs 2,999 (non-refundable), irrespective of the model. The booking amount, however, is refundable if the national lockdown extends beyond June. Customers can take delivery of vehicles any time after the lockdown opens and up to June end. All customers who book any Hero Electric scooter would avail an instant cash discount of... Read more..

Source: Financial Express

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..

Source: The Hindu Business Line

EV tourism start-up, BLive raises an undisclosed amount from Mumbai Angels Network

BLive, an eco-tourism start-up which has pioneered the concept of Electric Vehicle Tourism in India, has raised an undisclosed amount from Mumbai Angels Network in its pre-Series A funding round. The funds raised will be used for developing tech infrastructure, market expansion and enhancing the consumer experience. Including this undisclosed amount, the company has raised close to $1 million to date. Last September, the company raised an investment of Rs 4 crore from DNA Networks and earlier last year raised a seed funding round of Rs 1 crore led by Shrinivas V Dempo, Chairman of Goa’s... Read more..

Source: The Hindu Business Line

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..

Source: The Hindu Business Line

IL&FS completes sale of IL&FS Wind Power Services amid lockdown

IL&FS has completed the sale of IL&FS Wind Power Services (IWSPL), a wholly owned subsidiary of IL&FS Energy Development Company Limited (IEDCL), to ORIX Corporation, Japan. IWSPL is engaged in providing supervisory and management support services to seven companies that own and operate wind power generating assets. Earlier IL&FS Group had divested the 51 per cent equity stake held in the Wind Companies to ORIX. Post the bidding process launched last year, ORIX exercised its option to acquire IWSPL, as per previous agreement, and agreed to acquire 100 per cent of the... Read more..

Source: ET Energy World

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..

Source: Business Standard

Subsidies for Renewables in India Dropped 35% From FY17 to FY19: Report

The renewables subsidies in India fell 35 percent from FY17 to FY19, while its oil and gas subsidies increased by 65 percent according to a new study entitled ‘Mapping India’s Energy Subsidies 2020’, released by the International Institute for Sustainable Development (IISD) and the Council on Energy, Environment and Water (CEEW). How the government tackles the COVID-19 crisis and economic recovery will be crucial to determining future trends in the energy sector, experts say. The study emphasises that the health and economic crisis caused by COVID-19 will influence subsidy expenditure. The... Read more..

Source: Saur Energy International

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..

Source: ET Energy World

Government allows solar installation in Covid lockdown, industry to abide by safety protocols

The new guidelines were issued as Prime Minister Narendra Modi declared an extension of the lockdown in India till May 3, 2020, along with the opening of certain industrial activities in a bid to provide relief to labourers and daily wage earners. Transportation of goods is also permitted without any distinction of essential or non-essential. Solar developers have hailed the government’s move to resume installation, ensuring their compliance with safety protocols as outlined by the Ministry of Home Affairs. Speaking to pv magazine, Amp Energy India CEO Pinaki Bhattacharyya said, “Start of... Read more..

Source: PV Magazine India

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..

Source: The Wire
Subject Tags: coronavirus, PPA, solar sector

Electrolube Resin A Success For Two Wheeler EV Batteries In India

Electrolube, the global manufacturer of specialist electro-chemicals, has announced the success of its ER2221 resin for the protection of EV batteries in popular two wheeler vehicles in India. Electrolube’s customer, one of India’s leading two wheeler manufacturers, approached Electrolube, widely known as the solutions people, to help improve a thermal management issue in one of their key products. Initially, the ER2188 encapsulation resin was proposed as a viable solution. At first, ER2188 proved effective, however, when battery numbers increased, it became apparent that the ER2188 resin... Read more..

Source: ELE Times

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..

Source: ET Energy World

Adani Green Energy arm Kilaj Solar commissions 50 MW solar plant

Adani Green Energy on Wednesday said its arm Kilaj Solar (Maharashtra) Pvt Ltd has commissioned 50 MW solar power project on Tuesday. "Kilaj Solar (Maharashtra) Private Ltd, a step-down subsidiary of Adani Green Energy Limited (AGEL), has commissioned its 50 MW Solar Power Project having Power Purchase Agreement with Solar Energy Corporation of India (SECI) at Rs 2.54/kWh for a period of 25 years, on 14th April, 2020," a company statement said. With this, 2.60 GWac of renewable energy projects are operational, the statement said. Adani Green Energy has a total portfolio of 5.99 GWac of... Read more..

Source: ET Energy World

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..

Source: Hindustan Times

MNRE to Promote Local Manufacturing, Export Hubs for RE: Anand Kumar

The Ministry of New and Renewable Energy (MNRE) has asked state and port authorities to identify suitable land sites for renewable energy (RE) manufacturing and export services hubs in the country to offset the impact of the COVID-19 pandemic on India’s heavily import reliant domestic solar industry. The news was announced first MNRE Secretary Anand Kumar. Taking to twitter Kumar wrote, “All states and ports are requested to identify land parcels of 50-500 acres for setting up renewable energy manufacturing and export services hub.” In an earlier tweet, Kumar had said that the ministry... Read more..

Source: Saur Energy International

States may soon get hydro power purchase targets

The Centre will soon make it mandatory for states to meet part of their electricity requirement from hydro power plants, a reward to these projects that saved the country’s grid collapse during the nine-minute lights switch off call by Prime Minister Narendra Modi on April 5. The power ministry is soon likely to notify guidelines giving states hydro power procurement targets on the lines of renewable energy purchase obligations, a senior official said. The move comes soon after Sunday’s nine-minute lights-off feat when the grid survived 32 GW demand drop for a few minutes backed by... Read more..

Source: Energy Infra Post