You are here

Sustainability Outlook Headlines

Torrent Power emerges highest bidder for Dadra Nagar Haveli, Daman & Diu discoms

Torrent Power has emerged as the highest bidder for majority stake in electricity distribution companies of Dadra Nagar Haveli and Daman & Diu by quoting a winning price of Rs 555 crore, sources said. The company outbid firms like Adani Transmission, CESC and ReNew Power who submitted price bids, the sources said. "The winning bid is three times the reserve price of Rs 151 crore," they said. A formal announcement by Torrent Power and nodal agency PFC Consulting Ltd is expected soon. Dadra Nagar Haveli and... Read more..

Source: Economic Times

A.P. Moller - Maersk will operate the world’s first carbon neutral liner vessel by 2023 – seven years ahead of schedule

Fast-tracked by advances in technology and increasing customer demand for sustainable supply chains, A.P. Moller - Maersk accelerates the efforts to decarbonise marine operations with the launch of the world’s first carbon neutral liner vessel in 2023 - seven years ahead of the initial 2030-ambition. All future Maersk owned new buildings will have dual fuel technology installed, enabling either carbon neutral operations or operation on standard very low sulphur fuel oil (VLSFO).

... Read more..

Source: MAERSK

PM addresses webinar for consultation towards effective implementation of Budget provisions in power and renewable energy sector.

The Prime Minister, Shri Narendra Modi today addressed a webinar for consultation towards effective implementation of Union Budget provisions in the power and renewable energy sector. Union MoS (I/C) for Power and New and Renewable Energy; stakeholders and sectoral experts of the power sector, representatives of industries and associations, MDs of DISCOMs, CEOs of state nodal agencies for renewable energy, consumer groups and senior officials of the Ministry of Power and Ministry of New and Renewable Energy... Read more..

Source: PIB

NGT limits brick kiln operations in Delhi-NCR: Order allowing only a limited number of brick kilns using zig-zag technology to operate

The National Green Tribunal (NGT) February 17, 2021 passed an order allowing only a limited number of brick kilns using zig-zag technology to operate in the national capital between March and June. The order, however, stated that the number of brick kilns operational every month between March and June would vary depending upon the carrying capacity of the area. These kilns will be allowed to operate only when the air quality is not severe. In case of severe conditions, they will be banned from running. The... Read more..

Source: DownToEarth

“Statement of Intent” signed between Indian Oil and Greenstat Hydrogen India Pvt. Ltd for setting up of Centre of Excellence for Hydrogen

Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan today witnessed the signing of a Statement of Intent between IndianOil Corp. Ltd. and M/s Greenstat Hydrogen India Pvt. Ltd., a subsidiary of Greenstat Norway for setting up of Centre of Excellence on Hydrogen. This association aims to develop a Center of Excellence on Hydrogen (CoE-H) including CCUS and Fuel Cells by IndianOil and M/s Greenstat for clean energy in cooperation with Indo-Norwegian Hydrogen Cluster companies/organizations... Read more..

Source: PIB

Gadkari urges power minister to reconsider restriction on solar rooftop projects

Union micro, small and medium industries minister Nitin Gadkari has urged power minister R K Singh to reconsider a recent controversial decision to restrict net metering in solar rooftop projects. The power ministry had recently issued a gazette notification directing states to henceforth allow net metering only for solar rooftop projects with capacity lower than 10 KW. Those with higher capacity needs to shift to gross metering. With most solar rooftop installations in the commercial and industrial (C&I... Read more..

Source: Economic Times

IFC, TCCL and EverSource to back WABAG's hybrid annuity model project

VA TECH WABAG Ltd ('WABAG'), a leading pure play water technology company, announced financial closure for its Hybrid Annuity Model (HAM) project received from Kolkata Metropolitan Development Authority (KMDA). The project debt requirement will be funded by a consortium of International Finance Corporation (IFC) and Tata Cleantech Capital Limited (TCCL) WABAG had earlier signed a Rs 575 crore HAM concession agreement under the Namami Gange programme administered by the National Mission for Clean Ganga (NMCG)... Read more..

Source: Business Standard

20 more companies from around the globe join The Climate Pledge

Amazon and Global Optimism announced today that 20 new signatories around the world have joined The Climate Pledge: ACCIONA, Colis Prive, Cranswick plc, Daabon, FREE NOW, Generation Investment Management, Green Britain Group, Hotelbeds, IBM, Iceland Foods, Interface, Johnson Controls, MiiR, Orsted, Prosegur Cash, Prosegur Compañia de Seguridad, Slalom, S4Capital, UPM, and Vanderlande. With the addition of the new signatories, 53 companies across 18 industries and 12 countries have committed to working toward... Read more..

Source: Amazon Sustainability

CERC norms: ‘Market coupling’ mechanism for spot power market gets a leg-up

The Central Electricity Regulatory Commission (CERC) has introduced the ‘market coupling’ mechanism for spot power trading, a move which could align spot prices within same geographical areas and time slots, and encourage exchanges to attract consumers via improved quality of supply, payment flexibility, etc. The move is seen to dent the market dominance of the Indian Energy Exchange (IEX), where currently around 94% of the spot market transactions take place and catalyse formation of new exchanges. A... Read more..

Source: Financial Express

Climate risk and the transition to a low carbon economy: Blackrock Investment Stewardship

As we set out in our Global Principles, we expect companies to articulate how they are aligned to a scenario in which global warming is limited to well below 2° C, consistent with a global aspiration1 to reach net zero greenhouse gas (GHG) emissions by 2050. The following provides more detail on our approach to engagement on climate risks and opportunities and the transition to a low-carbon economy. Climate Risk and the Energy Transition as an Investment Issue Climate risk presents significant investment risk... Read more..

Source: Bloomberg

ISA to launch World Solar Bank at global climate meet in Nov

The International Solar Alliance (ISA) plans to launch the World Solar Bank (WSB) at the United Nations Climate Change Conference in Glasgow in November, a top ISA official said, a development that will support India’s attempt to secure leadership in the climate arena. The ISA is the first treaty-based international government organization headquartered in India. The development assumes significance, given that green finance will be among priority themes at the climate meet called COP-26, which comes in the... Read more..

Source: livemint

Vogo Raises $11.5 Mn Series C Funding To Bolster Electric Two-Wheeler Fleet

Bengaluru-based two-wheeler rental startup Vogo has raised $11.5 Mn in its Series C funding round from existing investors, including Lightrock, Kalaari, Matrix Partners and Stellaris Venture Partners. With its latest funding, Vogo will ramp up its electric two-wheeler fleet, streamline business operations after a slow year in 2020 and launch new marketing campaigns to bring back customers and achieve profitability by the next year. Founded by Anand Ayyadurai, Padmanabhan Balakrishnan and Sanchit Mittal in... Read more..

Source: Inc42

Inox Wind bags orders of 62 MW from IPPs

Leading wind energy solutions provider Inox Wind on Wednesday announced new orders for the supply and installation of wind turbine generators of 62 megawatts from independent power producers and retail customers. The orders spread across various industries for third party sales and captive consumption are expected to be commissioned by September. The projects will be executed on a turnkey basis across locations in Gujarat and Karnataka. The contracts include supply and commissioning of two megawatt doubly-fed... Read more..

Source: Business World

Draft liquefied natural gas policy aims to run more trucks on LNG

The government has already announced plans to have 1,000 LNG retail outlets, entailing investment of Rs 10,000 crore, in the next five years, and the policy will work towards the target. The Union ministry of petroleum and natural gas has prepared a draft liquefied natural gas (LNG) policy which aims to set up a framework for the promotion of gas and find ways for LNG adoption in sectors which currently does not use it as a fuel. To make LNG the fuel of the future for heavy transport, the policy targets to... Read more..

Source: Financial Express

Electric vehicle manufacturer Ampere to invest in Ranipet

Electric vehicle manufacturer Ampere Electric will set up an e-mobility manufacturing facility at Ranipet. Ampere Electric, which was acquired by Greaves Cotton two years ago, has signed a Memorandum of Understanding (MoU) in this regard with the Tamil Nadu government. According to a press release, the company proposes to invest ₹700 crore over 10 years at the facility. With more than 1.4 million sq.ft, the plant will be one of the largest state-of-the-art e-mobility manufacturing plants in the country, when... Read more..

Source: The Hindu

UK witnesses India's ambitious work on renewable energy ahead of COP26 summit

Alok Sharma, President-designate of 26th United Nations Climate Change Conference (COP26), witnessed India's ambitious work on renewable energy, and held vital discussions with government leaders, including Prime Minister Modi, businesses and civil society during his two-day visit to New Delhi. According to an official statement issued by the British High Commission, Sharma congratulated PM Modi on his personal leadership on climate action and his recent commitment to deliver 450GW of renewable energy by 2030... Read more..

Source: Business World

Ashok Leyland ups sourcing of clean energy, to cut carbon footprint by 60%

Commercial vehicle major Ashok Leyland has increased the sourcing of clean energy to 60 per cent for its countrywide operations. Around 75 per cent of its energy consumption in Tamil Nadu and around 60 per cent throughout India is procured through the solar rooftop, solar ground mount, and wind-based renewable energy, the company said. Hinduja Renewables, part of the Hinduja Group, has built a solar plant for Ashok Leyland. The plant, with a capacity of 75 MWp, is located in Sivagangai district in Tamil Nadu... Read more..

Source: Business Standard

Ford plans for all cars sold in Europe to be electric by 2030

Ford has pledged that all of its cars on sale in Europe will be electric by 2030, in the latest move by the world’s biggest auto manufacturers to set out plans to move away from polluting internal combustion engines before looming bans on fossil-fuel vehicles across the world. The US car giant said on Wednesday that it was going “all in” on electric vehicles and would invest $1bn (£720m) converting a vehicle assembly plant in Cologne, Germany, to become its first electric vehicle facility in Europe. It said... Read more..

Source: The Gaurdian

PM to inaugurate and lay foundation stone of key projects of power and urban sector in Kerala on 19th February

Prime Minister Shri Narendra Modi will inaugurate and lay the foundation stone of key projects of power and urban sector in Kerala on 19th February 2021 at 4:30 PM via video conferencing. Chief Minister of Kerala, along with Union Ministers of State (I/C) for Power and New & Renewable Energy, and Housing & Urban Affairs, will also be present on the occasion. Pugalur - Thrissur Power Transmission Project Prime Minister will inaugurate the 320 KV Pugalur (Tamil Nadu) - Thrissur (Kerala) power... Read more..

Source: PIB

Rajasthan: Wind power firms to lose government land for not starting projects

The wind power developers who had taken government land and have not been able to execute the projects are set to lose their land. Rajasthan Renewable Energy Corporation Ltd (RRECL) has written a letter to the revenue department to expedite the process for cancellation of the land. In the letter, RRECL said that more than 3000 bigha has beenallotted to about 20 companies which has not developed projects. “The revenueland allotted to the projects in these cases was either not utilized bydevelopers within the... Read more..

Source: Economic Times

Goldman Sachs Is Latest Wall Street Bank to Sell ESG Bonds

Goldman Sachs Group Inc. sold bonds aimed at financing environmentally and socially conscious projects for the first time, joining other Wall Street banks tapping the fast-growing market. The New York-based lender issued $800 million in sustainable bonds after the offering was upped by $50 million amid strong investor demand, according to a person with knowledge of the matter. The single-tranche deal maturing in five years yields 0.4 percentage point above Treasuries, after initial price talk of about 0.6... Read more..

Source: Bloomberg

MNRE to Remotely Monitor Solar Assets Under KUSUM Program

The United Kingdom (U.K.)-India Power Sector Reforms (PSR) Program will assist the Ministry of New and Renewable Energy (MNRE) in the conceptualization, design, and development of the Solar Energy Data Management (SEDM) platform. The platform will be implemented at the national level and in the states of Haryana and Gujarat under the Pradhan Mantri-Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) program. In July 2019, India announced the PM-KUSUM program to encourage the wider deployment of solar water pumps. The program focuses on the installation of both off-grid and grid-connected... Read more..

Source: Mercom India

Pilot on Pey Jal Survekshan under Jal Jeevan Mission- Urban launched in 10 cities

A Pilot Pey Jal Survekshan under Jal Jeevan Mission- Urban has been launched by Shri Durga Shanker Mishra, Secretary, MoHUA, here today. Providing details of the Pilot, Shri Mishra informed that Pey Jal Survekshan will be conducted in cities to ascertain equitable distribution of water, reuse of wastewater and mapping of water bodies with respect to quantity and quality of water through a challenge process. “As the first step, Ministry has decided to launch a pilot on Pey Jal Survekshan in 10 cities namely... Read more..

Source: PIB

Jaguar To Turn All Electric By 2025, Land Rover EVs Start In 2024

Jaguar will pivot away from its heritage to become a full electric car brand within five years, while its Land Rover stablemate will have six EVs by 2025, the British company announced this morning. The first all-electric Land Rover was due in 2024, Jaguar Land Rover CEO Thierry Bolloré admitted, to be followed by five more in rapid fire within two years. The announcement makes Jaguar the biggest legacy OEM to commit its future to electric cars, following similar announcements from Volkswagen Group-owned... Read more..

Source: Forbes

S&P Global makes over 9,000 ESG Scores publicly available to help increase transparency of corporate sustainability performance

S&P Global (NYSE: SPGI) launched a new public webpage highlighting S&P Global's full suite of environment, social and governance (ESG) solutions, and for the very first time, access to S&P Global ESG Scores on 9,200 companies. S&P Global ESG Scores are the key factor for selecting companies for the Dow Jones Sustainability Indices (DJSI). The underlying data is also used as one of the analytical tools for a growing series of S&P ESG indices and S&P Global Market Intelligence Portfolio... Read more..

Source: Cision PR Newswire