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Sustainability Outlook Headlines

Exide Industries increases stake in JV with Leclanche to 80.15%

Battery maker Exide Industries on Monday said it has increased stake in its joint venture (JV) with Swiss firm Leclanche to 80.15 per cent with a further investment of Rs 33.17 crore by way of subscription to equity shares of the JV. In June 2018, Exide Industries had announced signing of a pact with Leclanche SA for setting up a joint venture company, Exide Leclanche Energy Pvt Ltd, to build lithium-ion batteries and provide energy storage systems for India's electric vehicle market. Exide Industries Ltd (... Read more..

Source: The Economic Times

India aims to reduce diesel use with $1.35 billion LNG retail push

Indian companies will spend Rs 10,000 crore ($1.35 billion) over three years on 1,000 liquefied natural gas (LNG) stations along main roads and industrial corridors and in mining areas, the oil minister said on Thursday, to cut diesel consumption. Diesel, which accounts for about two-fifth of India’s refined fuels consumption, is widely used by buses, truck and in the mining sector. “Even if the LNG vehicle segment achieves 10% market share in a fleet of 10 million trucks, it will have a positive impact on... Read more..

Source: The Times of India

Adani Solar to add 2-GW cell and module capacity at Mundra

Adani Solar (Mundra Solar PV Ltd.), the solar PV manufacturing and EPC arm of Adani Group, is evaluating a 2 GW cell and module expansion at its manufacturing facility in Mundra, Gujarat. This is to strengthen its position as India’s largest and most technologically advanced player with a total capacity of 3.5 GW of high efficiency cells and modules, an Adani Group spokesperson said. The capacity is expected to come on line by 2021. At present, Adani Solar is India’s largest integrated solar cell and module... Read more..

Source: The Hindu

ReNew Power, Greenko keen to buy out Chandigarh discom

Two of India’s largest green energy firms, ReNew Power Ventures Pvt. Ltd and Greenko Energy Holdings, are among 10 companies that have shown an interest in buying out Chandigarh’s electricity distribution company (discom), said two people aware of the development. Their interest in the discom business comes against the backdrop of their strategy to capture value across the electricity business chain. A case in point is sovereign funds GIC Holdings and ADIA-backed Greenko submitting non-binding offers to buy... Read more..

Source: mint

69,000 petrol pumps to get e-car charging points: Gadkari

The government is planning to set up at least one electric vehicle charging kiosk in 69,000 petrol pumps across the country, Union road transport minister Nitin Gadkari said on Monday while urging automobile industry to come together to achieve broader national agenda of reducing pollution. Addressing a virtual conference on electric mobility, the minister urged the industry leaders to encourage the development of the local ancillary industry instead of depending on imports. He also said the the government is... Read more..

Source: The Times of India

Coal India to set up 3-GW solar power projects at Rs 5,650 crore by FY24

Coal India (CIL) on Monday said it would set up 14 rooftop and ground-mounted solar power projects of 3,000 megawatt (MW) capacity by financial year 2023-24 (FY24) at an investment of about Rs 5,650 crores. It added that while Rs 3,650 crore would be invested through CIL’s capex till 2023-24, the rest would be met through joint venture (JV) models that it intends to pursue for this initiative. CIL has been mandated by the Ministry of Coal to become a net-zero company and solar power initiative is a part of... Read more..

Source: The Economic Times

Singapore, Saudi companies push Indian solar tariffs to record low

The Indian units of Singapore-based Sembcorp Industries Ltd and Saudi Arabia-based Aljomaih Holding Co won government auctions to sell solar power for a record low of 2 rupees ($0.0270) per kilo watt hour (kWh), sources said. The tariff represented a discount of nearly a sixth from the lowest bid for solar power of 2.36 rupees in the auctions conducted by Solar Energy Corp of India Ltd (SECI) in June. India, the world's third-biggest greenhouse gas emitter, has set a target of raising its renewable energy to... Read more..

Source: Business Standard

BMC plans waste-to-energy plant for Malabar Hill, Tardeo

The BMC plans to set up a waste-to-energy plant in D ward, which covers Malabar Hill, Walkeshwar, Nana Chowk, and Tardeo areas, through corporate funding and rope in resident associations to manage it. According to the proposal, the plant will process two metric tonnes of wet waste daily and generate around 250 units of electricity that will be sold to a power supply company. The foundation work of the plant on a civic-owned vacant plot near Haji Ali junction has been completed and the BMC will soon procure... Read more..

Source: The Times of India

JBM renewables to set-up 500 biogas projects in India

Home-grown commercial vehicle and auto parts manufacturer JBM has signed an MoU with the Ministry of Petroleum and Natural Gas (MoPNG), Govt. of India for the development of Compressed Biogas (CBG) Projects. As part of the MoU, the renewable subsidiary of the company, JBM Renewables will endeavor to establish and operate 500 CBG production projects pan India. The MoU was signed in the presence of Hon'ble Petroleum Minister Shri. Dharmendra Pradhan, Hon’ble Principal Secretary, MoPNG, Shri Tarun Kapoor and... Read more..

Source: The Economic Times

New-age electric vehicle companies expect market to boom in two-three years

Electric vehicle (EV) manufacturers expect the market for eco-friendly vehicles to boom in the next few years even as their current share in automobile sales is less than one per cent. While few established auto players have entered this domain, niche companies control a larger part of the market. “People have now started realising the benefits of EVs. It’s running cost is 10paise/km as against Rs.1/km in ICE bikes. The ecosystem is getting ready and in the next two-three years, there will be a drastic change... Read more..

Source: The New Indian Express

Airtel buys 5.2% stake in Avaada Energy’s arm

Bharti Airtel Ltd has picked up a 5.2% stake in Avaada MHBuldhana Pvt. Ltd, a solar power firm, for ₹4.55 crore. Avaada MHBuldhana, a subsidiary of Avaada Energy Pvt. Ltd, is a newly-formed entity that is developing a captive solar power plant in Maharashtra. It will become operational by March and, hence, its revenue was nil as on 31 March, Bharti Airtel said in a stock exchange filing on Friday. The acquisition is an all-cash deal and will be completed by March. Avaada Energy has so far developed a... Read more..

Source: mint

Covid scars India's solar plan, capacity addition down 68% in 9 months

The Coronavirus pandemic has left a big dent in India’s solar plan, although the industry is showing signs of recovery as new capacity jumped 114 per cent to 438 megawatts (MW) in the third quarter from 205 MW installed in the second quarter as supply chains get restored. Green energy market tracker Mercom’s latest report on Friday outlined the impact by pointing out the third-quarter installations were 80 per cent less than 2,177 MW added in the corresponding period of 2019. Similarly, total installations... Read more..

Source: The Economic Times

Andhra: Govt to float solar tenders to fuel state’s agriculture sector

With the green signal from the judicial preview committee, the state government is planning to issue tenders for 10,000 MW capacity solar power plants in a phased manner. These plants, which would be developed under the build-operate-transfer (BoT) model, would come up in different parts of the state in order to ensure free power supply to the agriculture sector for the next 30 years. The scheme is expected to provide significant economic benefits as the cost of solar power is less than the average power... Read more..

Source: The Economic Times

IOC to set up solar-power based charging stations for e-vehicles

Indian Oil will set up solar-power based electric vehicle (EV) charging stations following its successful study on a “proof of concept “ on “zero emission electric mobility”, a concept that allows the EV to charge using solar power. The EV charging system has been designed by Hygge Energy, a start-up incubated by Tech Mahindra, and has three main features — EVs charged with solar power, no upgrades required in grid infrastructure, and improved grid resilience, especially in remote areas. The technology... Read more..

Source: Financial Express

Surat diamond firm gets top green building certification from USGBC

Shree Ramkrishna Export (SRK), a leading diamond company in Surat, has added sheen to its glitter by receiving green building standards certification from the US Green Building Council (USGBC). With this, SRK House has become the first in the industry to be awarded with Leadership in Energy and Environmental Design (LEED) certification with Platinum rating for its state-of-the-art facility in Katargam. The building, which houses nearly 3,000 employees, is constructed on a sprawling 2.25 lakh sq ft land and... Read more..

Source: The Times of India
Subject Tags: green building, USGBC

Proud moment! India gets best airport in carbon management in Asia-Pacific

Delhi Airport has become the first airport in Asia Pacific Region to achieve Level 4+ accredited airport under Airport Council International’s (ACI) Airport Carbon Accreditation program. This means Indira Gandhi International Airport (DEL) in the national capital has been adjudged as the best airport in carbon emission reduction management in the Asia Pacific region. Back in 2016, Delhi Airport became the first Carbon Neutral Airport in the Asia Pacific region 2016. The GMR-led Delhi International Airport... Read more..

Source: Financial Express

India to see Rs 10,000 crore investment in LNG stations: Dharmendra Pradhan

India will see an investment of Rs 10,000 crore in the next three years in setting up of LNG stations, a fuel that promises to revolutionalise long-haul transport with reduced cost and lesser emissions, oil minister Dharmendra Pradhan said on Thursday. Liquefied natural gas (LNG), which is supercooled natural gas, is favoured by long-haul buses and trucks due to its higher energy density than CNG, its ability to give a 600-800 km run on a single fill, and it being 30-40 per cent cheaper than diesel. So far,... Read more..

Source: The Times of India
Subject Tags: gas-based economy, India, LNG

eBikeGo to install 3,000 electric vehicle charging stations across five cities by February

eBikeGo today announced that it will be setting up 3,000 electric vehicle charging stations across five cities in India in the next three months. The electric mobility solutions provider plans to expand its EV charging network to 12,000-15,000 in the next one year. These charging stations will be IoT-enabled and compatible with all electric two-wheelers. In the first phase, eBikeGo will install 3,000 charging stations in five cities – New Delhi/NCR, Mumbai, Bengaluru, Hyderabad, and Chennai. The company will... Read more..

Source: Financial Express

Solar and wind power costs in India will be comparable to coal in 2025: Moody's

Power generation from solar and wind projects will likely be cost-competitive relative to coal-based power in India in 2025-2030 period, according to Moody's Investors Service, the global provider of credit rating, research and risk analysis. The shift would occur if the Levelized Cost of Electricity (LCoE) from solar and wind projects declines annually by a high single digit to mid-teen percentage between the first half of 2020 and 2025-30. "We expect the LCOE for new solar and onshore wind – both with... Read more..

Source: The Economic Times

Solar activity in India revives with 438 MW added in Q3

July-September solar deployments in India rose from the previous quarter as the market is starting to recover from the COVID-19 crisis, but the newly-installed capacity is still far behind that from a year ago, Mercom India Research says. The country commissioned 438 MW of solar photovoltaic (PV) parks in the third quarter, up from 205 MW in the second quarter as economic activity revived and lockdown restrictions related to the coronavirus pandemic were lifted, triggering a surge in investments. However, the... Read more..

Source: Renenwables Now

Adani has no guaranteed customer for $6 bn Indian solar project: Report

Adani Green Energy's record $6-billion solar power project announced in June has no guaranteed customer, its deal with India’s main solar-adoption agency shows, and may expose the company to higher financial risk. Shares in the firm, controlled by billionaire Gautam Adani, have soared three-fold since the signing of the 8 gigawatt (GW) multi-plant deal, which Adani hailed as the “largest of its type, ever” and a landmark for India. However, previously unreported details of the agreement between Adani Green... Read more..

Source: Business Standard

Historic rise in renewable energy M&A deals this year despite COVID-19

India is experiencing a historic rise in renewable energy merger and acquisition (M&A) deals this year despite the coronavirus pandemic that has taken a toll on economic activity. The current calendar year has witnessed M&A transactions of around $2 billion, a 75 per cent jump from transaction volumes estimated at $1.2 billion in 2019, according to Manish Aggarwal, partner and head, infrastructure M&A, special situations group, KPMG in India. Whereas, according to PwC’s estimates, the total deal... Read more..

Source: The Economic Times

India, Luxembourg discuss bilateral ties in fintech, space, solar energy

PM Xavier Bettel invites Indian firms to raise capital for green projects India and Luxembourg can increase cooperation in the area of financial technology, steel, space, solar energy and the digital domain as there exists a lot of potential for growth, Prime Minister Narendra Modi said at the India-Luxembourg virtual summit on Thursday. The meeting was also attended by Luxembourg’s Prime Minister Xavier Bettel. “At a time when the world is trying to deal with the economic and health challenges of the Covid-... Read more..

Source: The Hindu

PM Modi to inaugurate 3rd global renewable energy event RE-INVEST on Nov 26

Prime Minister Narendra Modi will inaugurate the 3rd Global Renewable Energy Investment Meeting and Expo (RE-INVEST 2020) on November 26 to woo investors for investing in clean energy in India. India has set an ambitious target of having 175GW of renewable energy by 2022 and 450GW by 2030. During the last six years, over Rs 4.7 lakh crore were invested, making the country a preferred destination for investment in clean energy. "Prime Minister Narendra Modi will inaugurate the virtual 3rd Global Renewable... Read more..

Source: The Economic Times

With population on rise, Greater Noida takes multipronged approach to manage waste

Anticipating an exponential population growth in the next decade, the Greater Noida Authority has adopted a multipronged strategy for solid waste management. Officials hope the new strategy will help accomplish the city’s seamless garbage management goal in three years. The city generates approximately 300 metric tonnes of waste daily. Greater Noida’s population has been on a steady rise for the past couple of years, with new residents moving into completed real estate projects. With the Jewar international... Read more..

Source: The Times of India