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Sustainability Outlook Headlines

Govt notifies modified scheme on ethanol production

The government on Thursday notified a "modified" scheme to provide financial assistance to distilleries producing first-generation ethanol from feedstocks, including cereals. The assistance will be given for capacity expansion, setting up of new ethanol distilleries or converting molasses-based distilleries to dual feedstock. In a statement, the government said sugar mills, distilleries or entrepreneurs are required to submit an application in a prescribed proforma to the Union Food Ministry within 30 days from the notification for availing the assistance under the scheme. Sugarcane and... Read more..

Source: The Economic Times

Amplus brings the MILES challenge for energy startups

Amplus Solar launched the MILES (M+Innovation Lab for Energy and Sustainability) challenge today. The challenge is inviting startups with ready to deploy solutions in the clean energy ecosystem in India. Amplus Solar launched this challenge in association with GoMassive Earth Network, an angel investor forum focused on sustainability. The MILES challenge comes with mentorship and access to resources for the participating energy startups. Amplus has committed to supporting the winners of the MILES challenge through seed capital that will help them scale up. Ernst & Young LLP are the... Read more..

Source: Techherald

Nod to independent operators of gas pipelines soon: Petroleum Secy

The government proposes to appoint independent operators of gas pipelines in the country to operationalise the common carrier principle that will allow all consumers and producers access to fuel transport infrastructure. Petroleum Secretary Tarun Kapoor told IANS that the ministry was taking approvals for segregating the existing gas pipeline infrastructure to identify the portion of infrastructure that will need to support common carriers. "We are getting all the approvals. Certain things have to go to the cabinet within two to three months. We will do it," Kapoor told IANS in an... Read more..

Source: The Economic Times

JinkoSolar N-type Mono Module Set a New World Record Reaching the Highest Conversion Efficiency of 23.01%

Recently, JinkoSolar Announced that after JinkoSolar N-type TOPCon Mono Cell conversion efficiency broke the record, the company’s latest developed N-type mono modules have been tested by the authoritative third-party organization TÜV Rheinland. As a matter of fact, Jinko N-Type panels hit a record-high conversion efficiency of 23.01%, breaking the previous world record of 22.39% set by JinkoSolar themselves in January 2020. JinkoSolar accomplished this outstanding achievement thanks to its industry leading vertical integration technology, which integrates the company’s N-type TOPCon high-... Read more..

Source: Renewable Watch

PM Narendra Modi to address star-studded start-up event tomorrow

In a tweet on Thursday, Prime Minister Modi said, “this summit seeks to bring together the top minds from industry, academia, investment, banking, finance and of course, young start-up leaders. We would also be marking 5 years since the Start-Up India initiative began. narendra modi,union budget 2021 The event, touted to be the largest congregation of start-up stakeholders, comes at a time when a Covid-ravaged economy urgently needs businesses, including start-ups, to awaken their animal spirit and boost investments to spur growth. Prime Minister Narendra Modi will, on Saturday, address a... Read more..

Source: The Financial Express

Solar company Starsight secures $10 million in financing

Solar power supplier Starsight has expanded a senior debt facility by $10 million to broaden its offerings and generation capacity in Nigeria and Ghana, the company said on Thursday. The expanded facility, completed with development financiers Finnfund and Norfund, doubles the existing debt facility the company has with them and is the second time a solar company in the region has secured millions in funding this week. On Tuesday, Daystar Power announced $38 million in funding, mostly from development finance institutions, to expand West Africa operations. Grids across Africa do not... Read more..

Source: The Economic Times

Siemens Gamesa, Siemens Energy tap hydrogen boom in wind alliance

Siemens Gamesa and Siemens Energy are developing a commercial offshore wind turbine that produces hydrogen via electrolysis, the companies said, marking a breakthrough for the mass production of renewable hydrogen. The companies are investing 120 million euros ($146 million) in the system, which has not been previously reported on. It is the renewable industry's most concrete plan yet to capitalise on an expected boom in hydrogen demand. In the European Union, renewable hydrogen, which can replace fossil fuel in sectors that are struggling to decarbonise, is seen as a way to meet goals to... Read more..

Source: The Economic Times

Cabinet approves mining reforms

India on Wednesday liberalised the mineral sector paving way for large private investments through auction of nearly 500 leases, doubling production in the next 4-5 years, sources said. The amendments, now to be laid before Parliament in the Budget session, do away with distinction between captive and non-captive mines, allowing transfer of mining leases. Comprehensive license for exploration and production, clarity in illegal mining, national mineral index and joint auctions of bauxite and coal mines for aluminium sector are some of the other proposals that have been approved by the... Read more..

Source: The Economic Times

Tesla may kickstart India ops with sales and R&D to follow

Tesla is looking to open its first sales outlet in India, possibly in Bengaluru, even as it continues talks with the Karnataka government on setting up a research and development (R&D) centre in the state, two people aware of the development said. The billionaire Elon Musk-led electric vehicle maker (EV) maker has registered a new entity, Tesla India Motors and Energy Pvt. Ltd, with an office in Bengaluru, as part of the initial steps towards starting operations in India. “They will introduce their products here and set up outlets. There are ongoing talks for a R&D centre (in... Read more..

Source: Live Mint

Fuel prices on fire as crude price tops $57 a barrel

Petrol price made a new record at Rs 84.45 a litre in Delhi and crossed Rs 90 in Mumbai on Wednesday in tandem with crude topping $57/barrel for the first time since February 2020 as economic optimism outweighed concerns over fresh virus scare in Europe and China. Diesel price made a fresh record at Rs 81.34 in Mumbai and narrowed the gap with previous peak in Delhi as state-run fuel retailers, who dominate the market, resumed daily price revision after a 5-day gap to pass on the impact of crude’s week-long rally. After the latest hike, diesel costs Rs 74.63 a litre in Delhi, 82 paise... Read more..

Source: The Economic Times

China's Baidu to create an intelligent EV company with automaker Geely

China's search engine giant Baidu Inc said on Monday it will set up a company to partner with car maker Zhejiang Geely Holding Group to make smart electric vehicles (EV), the latest move by a tech company in the fast-evolving sector. Baidu, which has been developing autonomous driving technology and internet connectivity infrastructure, said the new EV company will count on Baidu's intelligent driving capabilities and Geely's car manufacturing expertise. Geely will also be a strategic investor in the new company, which will be an independent subsidiary of Baidu, Baidu said in the statement... Read more..

Source: The Business Times

Tesla drives into Bengaluru with new company

Tesla has made its debut in India. On January 8, it registered a company named Tesla India Motors and Energy in Bengaluru. It’s not clear what exactly the company will do – R&D, sales or manufacturing. Founder Elon Musk, the world’s second richest man, had indicated last year that Tesla would start selling its cars in India in 2021. Union road transport and highways minister Nitin Gadkari had said in December that Tesla will commence sales in India in 2021, and would evaluate assembly or manufacturing based on the market response it receives. The US electric carmaker is known to be... Read more..

Source: The Times of India

Hero Electric, Earth Ride partner to lease e-bikes

Hero Electric on Monday said it has partnered with Delhi-based start-up Earth Ride, to provide e-bikes to the youth searching for new business enterprises. It will lease e-bikes to help the youth earn a living through the last-mile deliveries model of Earth Ride, which offers a unique Lease-Earn-Own model that allows individuals who might not have the capital to buy a new electric scooter, the company said in a statement. Earth Ride provides electric two-wheelers to riders on a long-term lease. They will procure over 1,000 customised Nyx-HX and other e-scooters through the next financial... Read more..

Source: Business Line

Odysse E2Go electric scooter launched: 60 km range and portable battery pack

Odysse Electric Vehicles, an electric two-wheeler manufacturer, today launched a new low-speed scooter, E2Go for the Indian market. Available in two models of lead-acid and lithium-ion batteries, these e-scooters do not require registration or license to ride. The E2go and E2Go Lite are priced at Rs 52,999 and Rs 63,999, respectively (ex-showroom Ahmedabad). The models are available in five colour options – Azure blue, Scarlet Red, Teal green, Midnight black, Matte black. “The E2Go is targeted towards the urban women and youth market where everyone wants to have their mobility in their own... Read more..

Source: The Financial Express

Tata Motors plans series of ‘affordable’ e-vehicles

In one of the most ambitious plans made around electric mobility and affordability, homegrown auto giant Tata Motors has said that it plans to price its green cars at “not more than 15-20% premium” to conventional petrol/diesel vehicles, while offering a battery range at least in excess of 200km on a single charge. The statement comes just as Tata Motors drives on a path of resurgence in the Indian passenger vehicles market, making significant gains in share in just about a year. Riding high on healthy demand for products such as the Tiago mini, Nexon compact SUV and the Altroz hatch, the... Read more..

Source: The Times of India

Triton set to enter Indian market with N4 electric sedan, to start at Rs 35 lakh

US-based Triton Electric Vehicle on Monday said it aims to introduce N4 sedan in India with price starting at Rs 35 lakh. The electric sedan, which would be manufactured in the US, is going to be available in four different variants and a high-performance limited edition in the country, the company said in a statement. Only 100 units of the limited edition version - N4-GT - would be produced, it added. The N4 model comes powered by 75Kwh and 100 Kwh battery options giving the vehicle a range of up to 523 km and 696 km respectively, it added. "The base model will be priced at Rs 35 lakh... Read more..

Source: The Times of India

Coronavirus causes largest U.S. greenhouse gas emissions drop since World War Two - report

U.S. greenhouse gas emissions fell 10.3 per cent in 2020, the largest drop in emissions in the post-World War II era, as the coronavirus crippled the economy, according to a report released Tuesday by the Rhodium Group. The economic fallout from the uncontrolled spread of COVID-19 - especially in big emitting sectors like transportation, power and industry - resulted in a sharper emissions drop than the 2009 recession, when emissions slid 6.3 per cent. The drop means that the United States would outperform its pledge made under the Copenhagen climate accord to reduce greenhouse gas... Read more..

Source: The Economic Times

Japan extends fresh loan to India to combat socio-economic impacts of Covid

Japan on Friday decided to assist India by providing a loan of up to 30 billion yen (appx. INR 2,129 Crore) for its efforts to mitigate socio-economic impacts of COVID-19 here. The Exchange of Notes for the COVID-19 Crisis Response Support Loan for Social Protection were signed by SUZUKI Satoshi, Ambassador of Japan to India and Dr C. S. Mohapatra, Additional Secretary, Department of Economic Affairs. This yen loan is the latest addition to Japan’s supports to India in its fight against COVID-19. After the outbreak of the pandemic, Japan provided swift assistance to India, which includes... Read more..

Source: The Economic Times

Goldman expects Brent oil prices to reach $65/bbl in summer 2021

Brent oil prices could rise to $65 per barrel by summer 2021, Goldman Sachs said on Monday, driven by output cuts in Saudi Arabia and the implications of a shift in power to the Democrats in the United States. The Wall Street investment bank had previously predicted oil would hit $65 by year-end. The Democrat-led sweep of the U.S. Senate runoff elections and Saudi Arabia's recent announcement of unilateral production cuts have left commodity markets with a "tighter" medium-term outlook, analysts at the bank said in a note. Last week, the bank said Saudi Arabia's pledge to cut its output by... Read more..

Source: The Economic Times

Crude oil prices sapped by rising coronavirus cases

Oil prices slipped on Tuesday as investors remained concerned about climbing coronavirus cases globally, though an anticipated drawdown in crude oil inventory in the United States for a fifth straight week stemmed losses. After falling on Monday, Brent crude oil futures slipped by 9 cents, or 0.2 per cent, to $55.57 a barrel by 0135 GMT while U.S. West Texas Intermediate (WTI) fell by 8 cents, or 0.2 per cent, to $52.17 a barrel. Worldwide coronavirus cases surpassed 90 million on Monday, according to Reuters tally, as nations around the globe scramble to procure vaccines and continue to... Read more..

Source: The Economic Times

Companies may get grant to set up strategic oil reserves

The government plans to offer viability gap funding (VGF) to attract bidders for the second phase of Indian Strategic Petroleum Reserves, which will add 12 days of crude oil storage, two government officials aware of the matter said. The move is part of India’s efforts to enhance energy security. The second phase will require an investment of $1.6 billion under the public-private partnership (PPP) mode. The Union cabinet’s nod for the terms to be offered under the VGF route to bidders will be sought. The proposal is under discussion. This comes against the backdrop of tensions between... Read more..

Source: Live Mint

Covid-19 and cold has cooking fuel outpacing Gasoline in India

Consumption in 2020 of liquefied petroleum gas was higher than motor fuel for the first time ever over a calendar year, data from the govt showed India’s full-year consumption of gasoline never fully recovered from a collapse in demand during a nationwide lockdown in the second quarter of 2020 A fuel primarily used for cooking has surpassed gasoline as India’s second most popular oil product following a boost from a government buying program, cold weather and stay-at-home orders due to Covid-19. Consumption in 2020 of liquefied petroleum gas -- which is also used for heating -- was higher... Read more..

Source: Live Mint

Next tranche of commercial mining auction to be launched this month: Coal Minister

Minister Pralhad Joshi on Monday said the next tranche of commercial mines auction will be launched this month and stressed that further rounds will continue thereafter. Speaking at the agreement signing ceremony for commercial coal mining and launch of single-window clearance system, he said commercial coal mining has been made a part of the system now. "The next tranche of commercial mining auction would be launched in January 2021, and further tranches will continue thereafter," the minister said. Speaking at the function, Home Minister Amit Shah said the country has reached a position... Read more..

Source: The Economic Times

Every hydroelectric project under obligation to release minimum water downstream: NGT

The National Green Tribunal has directed state pollution control boards to ensure the release of minimum water downstream by hydroelectric projects, saying business or commercial interests cannot override the requirement of maintaining riverine ecology. A bench headed by NGT Chairperson Justice Adarsh Kumar Goel said every hydroelectric project (HEP) irrespective of the date of its commission is under an obligation to release minimum water downstream "This is a mandate of 'Sustainable Development' which is part of the right to life. Accordingly, the tribunal directed compliance by all the... Read more..

Source: The Economic Times

SECI may reduce solar tender size due to high tariff concerns

The Solar Energy Corporation of India is likely to reduce the size of its latest solar tender as well as change location specifications, sources said. The size is being brought down from 2,500MW to 1,800MW. While earlier the projects were to be located at the solar park in Koppal district of Karnataka, SECI has now identified three other spots in the same state where the projects, once they are auctioned, can be built. SECI is the nodal agency through which the renewable energy ministry conducts wind and solar auctions. It has had second thoughts about Koppal fearing the cost of setting up... Read more..

Source: The Economic Times