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India Needs 300 Bn Dollar More To Achieve 2030 Renewable Capacity Goals: Report

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Currently, the country has 165 gigawatts (GW) generation capacity already in place. India’s electricity consumption will grow with an annual rate of 5.4 per cent in coming decade

India may require additional investment of nearly USD 300 billion in order to achieve the 500-gigawatt renewable energy capacity target by 2030, according to a report.

Currently, the country has 165 gigawatts (GW) generation capacity already in place. The nation is on the right path to reach its goal of having 50 per cent of energy needs through the renewable portfolio, according to a report on 7 November.

The report said that expectedly India’s electricity consumption will grow with an annual rate of 5.4 per cent in coming decade. The annual demand will be touching 2,300 billion units (BUs) by 2030.

However, with the current speed, the generation will reach only 2,024 BUs by 2030, the report added.

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Sterlite Power To Invest Rs 50,000 Cr In Renewable Energy

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Sterlite is set to invest Rs 50,000 crore in renewable generation across the next five years, mainly in Karnataka

The Vedanta group-owned Sterlite Power is building over 1,000-megawatt wind and solar hybrid projects in Karnataka which will then be sent to the smelters in Odisha, Rajasthan, and Chhattisgarh through an inter-state transmission network. Sterlite is set to invest Rs 50,000 crore in renewable generation across the next five years, mainly in Karnataka.  

They are in conversation with the government of India for developing two transmission lines, one connecting Karnataka to Kerala and the other Maharashtra to Goa. Both these lines will be necessary for transmitting renewable energy in upcoming years.

Sterlite Power is owned by the Vedanta group. Speaking at the Global Investors’ Meet, Agarwal urged the Karnataka government to adopt an intra-state transmission model through PPP (public private partnership). “As electricity consumption grows at double digits, the state will need continuous strengthening of the grid. Many states have already tasted success with this model.

Sterlite will begin by manufacturing semiconductors and reduce the USD 16-billion import bill of the country. They will also invest in display manufacturing, as they are already making display glass in Korea and Taiwan. They are already the fourth largest in this regard. Their goal is to become net exporter of electronics in years to come. 

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NTPC’s Renewable Energy Park In Guj To Get Transformers From Hitachi Energy

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In total ten transformers will be provided by Hitachi Energy, which are manufactured at its factory in Vadodara. Hitachi Energy technologies nearly caters one-third of India’s green power flow. The power transformers made-in-India are critical components in the power systems

Hitachi Energy India will be supplying power transformers to National Thermal Power Corporation Renewable Energy Limited (NTPC REL) for its upcoming 4.75 gigawatt renewable energy park in Gujarat.

In total ten transformers will be provided by Hitachi Energy, which are manufactured at its factory in Vadodara. In solar power evacuation this will be the largest rating of the transformer according to a press statement.

In December 2021, Hitachi Energy in its own operations reached a target to become 100 per cent fossil-free electricity.

Being the largest solar park in India the NTPC REL facility covers around 72,600 hectares in Kutch. It produces electricity which supports 8 million people, said the statement.

Hitachi Energy technologies nearly caters one-third of India’s green power flow. The power transformers made-in-India are critical components in the power systems. By using fossil-free electricity such transformers are manufactured in Hitachi Energy’s factory in Maneja.

The managing director and CEO, India and South Asia, Hitachi Energy, N Venu said that this is just the beginning of the transition from fossil fuels to renewables and they feel proud to be a part of NTPC REL’s ambitious project.

India’s total installed renewable energy capacity stood at 161.28 GW till July 2022, according to a report by the Central Electricity Authority (CEA).

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KKR, Hero Group To Invest $450 Mn In Hero Future Energies

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Since 2011, KKR has invested over USD 15 billion in equity the world over to invest in renewable energy assets, that have an operational power generation capacity of 23 GW

Hero Group, and KKR, a global investment firm will invest USD 450 Million in Hero Future Energy (HFE). The investment will support its efforts to expand its renewable energy capacity and capabilities across technologies across renewable energy verticals. HFE will also look to support companies in their efforts to decarbonise and transition towards sustainable energy sources to achieve their net zero emission goals.

Hero Future Energies was founded in 2012 and is now a leading independent power producer in the country with a portfolio of 1.6 GW of operating solar and wind projects. Since 2011, KKR has invested over USD 15 billion in equity the world over to invest in renewable energy assets, that have an operational power generation capacity of 23 GW. 

green energy

Renewable Energy India Expo To Bring In INR 800 Crore

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The association has already received confirmation of several Sustainable Alternative Towards Affordable Transportation (SATAT) Letter of Intent (LOI) holder’s participation to set up biogas plants across country

Indian Biogas Association (IBA), an industry association comprising of operators, manufacturers, and planners of biogas plants, today announced that Renewable Energy India Expo 2022 will bring an investment opportunity worth INR 800 crores. The association has already received confirmation of several Sustainable Alternative Towards Affordable Transportation (SATAT) Letter of Intent (LOI) holder’s participation to set up biogas plants across country.

The Bio-energy pavilion is supported by Ministry of New and Renewable Energy, Niti Aayog, Punjab and Maharashtra Energy Development Agency (PEDA and MEDA). Renewable Energy Expo (REI) is scheduled to be held from September 28-30, 2022 at India Expo Centre, Greater Noida, Uttar Pradesh. The expo is one of the largest trade exposition and event, focusing on renewable energy (bio-energy, solar, and wind) and energy efficiency technologies including Electric Vehicles and battery storage. The objective of exhibition is to encourage the growth of renewable in the region through association of technology and product sharing.

Dr. A R Shukla, Indian Biogas Association, President said, “We are expecting almost 15 thousand footfalls with the renewed interest and Ministry of New and Renewable Energy (MNRE’s) push towards the Bio- Energy sector. This is the reason we have opted for a separate pavilion for our exhibitors. With the addition of 40 more large scale Biogas plants commissioning by this financial, we expect the present Compressed Biogas (CBG) capacity to go up by ONE Lakh tonnes. Presently, the industry has sold 9000 tonnes of Compressed Biogas (CBG) worth INR 486 crore in last 3 years, post the launch of Sustainable Alternative Towards Affordable Transportation (SATAT) scheme by the Government.”

“We had urged the Government to double the outlay to INR 900 crore recently. We are expecting the Ministry of New and Renewable Energy (MNRE) to announce proper incentive under Central Financial Assistance (CFA) for commissioning of new CBG projects. Central Financial Assistance (CFA) will immediately fast track the commissioning of upcoming Biogas projects at a lightning speed giving impetuous to clean energy” he further added.

Gaurav Kedia, Chairman, Indian Biogas Association said “Renewable Energy Expo (REI) is a perfect networking platform which connects manufacturers, industry experts, policy makers and influencers. Indian Biogas Association and all the exhibitors across India will address new ways of thinking and innovative partnerships to create solutions to help bio-energy sector. Indian Biogas Association (IBA) has taken a step to support the drive to reduce India’s carbon emissions and move towards clean energy. Renewable energy has a major role in meeting the energy demands of India, which is expected to reach 15,820 terawatt-hour (TwH) by 2040. We are encouraging the bio-energy technology providers and equipment manufacturers to adopt the state-of-the-art options and trends and contribute on bigger scale in achieving the goal of carbon -neutral economy by 2050.”

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Reliance To Buy Majority Stake In Solar Energy Software Maker For $32 Mn

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The stake purchase is part of the oil-to-chemicals conglomerate’s aggressive push into the renewable energy sector

India’s Reliance Industries said late on Monday it would acquire a 79.4 per cent stake in California-based solar energy software developer SenseHawk for USD 32 million.

The stake purchase is part of the oil-to-chemicals conglomerate’s aggressive push into the renewable energy sector, with aims to produce 100 GW of solar energy by 2030. read more

SenseHawk develops tools for the solar industry to help companies streamline processes and use automation. The company, founded in 2018, generated USD 2.3 million in turnover in its financial year 2022.

Reliance said it expected to complete the acquisition by the end of the year.

(Reuters)

industry

Green Energy In Focus For Odisha’s New Renewable Energy Policy, 2022-30

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So far, the clean energy sector has not grown in Odisha due to a number of challenges, which needs to be addressed through stronger policies, innovative land use, stronger incentives and procurement techniques

With Odisha set to draft its new Renewable Energy (RE) policy for 2022-30, the International Forum for Environment, Sustainability and Technology (iFOREST)  initiated a dialogue on preparing a roadmap with a focus on the generation of green energy and jobs. The present RE policy introduced in 2016 will lapse by the end of this year. 

Under central government’s guidance, Odisha has been importing renewable energy, from other states to meet its Renewable Purchase Obligation (RPO). Though the present policy had set a modest target of installing 2,750 MW of RE capacity by 2022, only 617 MW was installed, which is less than 25 per cent (pc) of the target, by end of March. The RPO target of the State for 2022-23 is 11.5 percent, the target will increase to 43.33 pc by 2029-30. So far, the clean energy sector has not grown in Odisha due to a number of challenges, which needs to be addressed through stronger policies, innovative land use, stronger incentives and procurement techniques. 

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Varun Mehta elevated as Director on Board of Torrent Power

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He started his career in the Renewables business, where he made an important contribution in formulating the entry strategy of the Group in the area of renewable energy and setting up the initial set of renewable energy projects

Varun Mehta is appointed as Director on Board of Torrent Power from 8th August 2022. Varun is a BSc (with honours) in Management from University of Warwick, UK and an MBA from INSEAD, France. During his tenure with Torrent Power, he has worked across different business segments of the company – namely Renewables, Thermal Generation and Distribution. 

He started his career in the renewables business, where he made an important contribution in formulating the entry strategy of the Group in the area of renewable energy and setting up the initial set of renewable energy projects. Later when he moved to the Thermal Generation business, he spearheaded a strategic initiative on importing LNG directly from the international markets, making Torrent Power the first Indian power company to successfully do so. This initiative led to significant benefits for the company in terms of revenue enhancement and cost savings.

Currently he is Executive Director at Torrent Power and heads the Distribution License (Ahmedabad, Gandhinagar, Surat, Diu, Daman, Dadra, Nagar Haveli, Dahej and Dholera), Transmission and Cables business. Under his leadership, Torrent’s distribution business has widened its lead over competition and strengthened its position as a benchmark utility. 

Talking about the new appointmrnt, Torrent Group Chairman, Samir Mehta stated “Torrent Group is at an exciting point in its journey, as we celebrate 50 years of incorporation. We are working on strengthening our existing position in the Pharma, Power and Gas sectors and have put in place plans to further diversify beyond these sectors. With the recent appointments of Varun as a Director of Torrent Power and Aman as a Director of Torrent Pharma, we are gearing up the Group to pursue its growth ambitions.”

Some of his key contributions have been take-over of operations at Diu, Daman, Dadra, Nagar Haveli, Dholera and Mandal Bechraji and improving AT&C losses further. His efforts in the area of operational excellence led to Torrent Power being recognized as one of only 5 companies in the world to be simultaneously awarded the prestigious Sword of Honour and Globe of Honour from British Safety Council in 2021. Varun has a very effectively translated Torrent’s Core Values into Distribution business and driven the Operational Excellence journey and strengthened the Process Orientation of the business. 

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JSW Cement Inks Pact With PRESPL For Biomass-Based Fuel

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According to the MoU, Punjab Renewable Energy Systems will build a sustainable supply chain of agricultural waste to be utilised as biomass energy in the clinkerization and grinding process at the manufacturing units of JSW Cement

JSW Cement has inked a pact with Punjab Renewable Energy Systems to use agricultural waste as biomass energy in its cement-manufacturing operations, a statement said.

According to the MoU, Punjab Renewable Energy Systems will build a sustainable supply chain of agricultural waste to be utilised as biomass energy in the clinkerisation and grinding process at the manufacturing units of JSW Cement.

“JSW Cement, India’s leading green cement company and a part of the USD 13 billion JSW Group, has signed a Memorandum of Understanding (MoU) with Punjab Renewable Energy Systems Pvt Ltd (PRESPL) to use agricultural waste as biomass energy in its cement-manufacturing operations,” the statement said. 

Punjab Renewable Energy Systems is a biomass aggregation and densification company.

The pact with PRESPL is an important step for JSW Cement to offer sustainable cement products with the lowest possible carbon footprint, the statement said. JSW Cement, as a member of Global Cement and Concrete Association (GCCA), is committed to ‘Climate Ambition 2050’ to deliver carbon-neutral concrete by 2050.

The company is also planning to reduce its carbon emissions intensity by almost half in 11 years from FY15 to FY26. The use of biomass as fuel is an important part of this decarbonisation plan. 

(PTI)

green energy

India Could Export $500 Bn In Green Energy: Ambani

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Companies including Reliance have announced plans worth billions of dollars to boost India’s renewable energy capacity including building battery storage, fuel cells and producing green hydrogen at less than $1 per kilogram.

India could become a global green energy superpower with exports of clean energy rising to $500 billion over the next 20 years, Mukesh Ambani, chairman of oil-to-telecom conglomerate Reliance Industries, said on Wednesday.

Companies including Reliance have announced plans worth billions of dollars to boost India’s renewable energy capacity including building battery storage, fuel cells and producing green hydrogen at less than $1 per kilogram.

“If the last 20 years, we were known for India’s emergence as an IT superpower, next 20 years, I believe, along with technology, will mark our emergence as a superpower in energy and life sciences,” Ambani, one of Asia’s richest men, said at the Asia Economic Dialogue.

India is the world’s third-largest oil importer and consumer and its power sector is heavily reliant on coal.

Ambani said India should have a strategy to end dependence on fossil fuels in the next two to three decades.

“For the next two to three decades, India’s dependence on coal and imported oil will continue. But, we must have a plan to eliminate that in the next two to three decades.”

The billionaire said India would have to follow “low-carbon and no-carbon strategies” in the near and medium-term.

Prime Minister Narendra Modi has set a target to make India a net-zero carbon emitter by 2070. The nation plans to install 450 gigawatts (GW) of renewable energy by 2030, from about 105 GW currently and has recently announced a plan to produce 5 million tonnes of green hydrogen per year by 2030.

“We have to make sure (we)… bring the cost of green hydrogen at a dollar per kilo and make sure that we transport and disburse it also at less than a dollar per kilo,” Ambani said.

“I think we will be able to do all this plus or minus 20%,” he said.

(Reuters)

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