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Sustainability Outlook Headlines

IndusInd Bank launches Green Fixed Deposits

IndusInd Bank launched Green Fixed Deposits where the deposit proceeds will be used to finance projects and firms supporting the United Nations Sustainable Development Goals (SDGs).
These deposits, shall be offered to both retail and corporate customers. The bank, will use the proceeds from these deposits to finance a wide array of sectors falling under the Sustainable Development Goal (SDG) category including, energy efficiency, renewable energy, green transport, sustainable food, agriculture, forestry, waste management, and greenhouse gas reduction.
... Read more..
Source: Business Standard

E-vehicles in Maharashtra up 153% in 1 year, more than double in Mumbai

 It's boom time for electric vehicles in Mumbai and Maharashtra. While the state saw a phenomenal 153% rise in new e-vehicle registrations in the first nine months of the financial year 2021-2022, the city recorded a growth of 112% in the same period, the latest transport statistics show.
Compared to 9,415 e-vehicles registered in 2020-21, the number of registrations skyrocketed to 23,786 in just nine months of 2021-22 (April 1 to December 27 this year).
The total e-vehicles registered so far in Maharashtra is 57,386 and there are... Read more..
Source: Economic Times

Shri Nitin Gadkari calls for manufacturing of Flex Fuel Vehicles (FFV) and Flex Fuel Strong Hybrid Electric Vehicles (FFV-SHEV) complying with BS-6 Norms in a time bound manner within a period of six months

Union Minister for Road Transport and Highways Shri Nitin Gadkari has said in order to substitute India’s import of petroleum as a fuel and to provide direct benefits to farmers, the Automobile Manufacturers in India have now been advised to start manufacturing Flex Fuel Vehicles (FFV) and Flex Fuel Strong Hybrid Electric Vehicles (FFV-SHEV) complying with BS-6 Norms in a time bound manner within a period of six months.
In a series of Tweets he said that in line with Prime Minister’s vision of Aatmanirbhar Bharat and government’s policy on promoting ethanol as a... Read more..
Source: PIB

India achieved non-fossil energy goals ahead of schedule, says PM Modi

India has achieved the target which was set for 2030, of making 40 per cent of its installed electricity capacity from non-fossil energy, this year itself, said Prime Minister Narendra Modi after inaugurating and laying the foundation of various hydropower projects in Himachal Pradesh's Mandi on Monday.
"India had set a target in 2016 to meet 40 per cent of its installed electricity capacity from non-fossil energy sources by 2030. Today every Indian will be proud that India has achieved this goal in November this year itself," said PM Modi.
"The whole world is... Read more..
Source: ANI

Centre to tap surplus land at ports for green energy push

The Centre has identified 6,500 acres of surplus land at 12 major ports to develop solar and wind power projects, which will also help them generate new revenue streams, said officials, seeking anonymity.

The 12 major ports have already switched to renewables for their energy requirements and are now planning to convert surplus land for commercial green power generation, they said. A parliamentary standing committee has acknowledged the plan and suggested more land should be made available for renewable energy projects, they said.
Queries to the ministry of shipping,... Read more..
Source: Live Mint

Rajasthan woos TN investors; Inks MoUs for Rs 36,820 crore

The Rajasthan government on Monday signed six MoUs including Tata Power's solar generation project for Rs 15,000 crore, and five letters of intent committing a total investment of Rs 36,820 crore.
The agreement was signed here in the presence of Rajasthan Industry and Commerce Minister Shakuntala Rawat and Food, Civil Supplies and Consumer Affairs Minister Pratap Singh Khachariyawas at the conclusion of discussion with the investors from Tamil Nadu and the diaspora with the support of national partner CII.
Apart from solar power generation... Read more..
Source: Economic Times

Oil India to set up green hydrogen plant in Assam

Oil India Ltd, the nation's second-largest state-owned oil explorer, is setting up a plant to manufacture green hydrogen at its Jorhat oilfield in Assam, the company said in a statement. "To strengthen its bouquet of clean energy offerings", the company has initiated action for setting up a 100 kW green hydrogen plant at its Pump station-3 in Jorhat, it said.
The pilot plant will generate green hydrogen using AEM technology, it said without giving details. "This is a first of its kind project in the country."
Speaking on the occasion of the... Read more..
Source: Economic Times

Green hydrogen is the future, tap the huge opportunity, Gadkari tells farmers

 Green hydrogen is the future of alternate fuel and farmers must get involved in its production "to tap the huge opportunity", Union Minister Nitin Gadkari said here on Friday. The minister was speaking at the inauguration event of an exhibition organised by 'Agrovision', of which he is the chief patron.
Green hydrogen can be made from bio-mass, bio-organic waste and dirty water, and can be a substitute for coal import, he said.
"Steel plants, tractors, buses, railways and all other industries will run on green hydrogen. This is the future... Read more..
Source: Economic Times

BPCL, SECI to set up 10 GW renewable energy capacity by 2040

Fuel retailer Bharat Petroleum Corporation (BPCL) announced it has signed a Memorandum of Understanding (MoU) with Solar Energy Corporation of India (SECI) to set up 10 Gigawatt (GW) of renewable energy capacity by 2040.
The company did not disclose the quantum of investment being planned but said the two firms will jointly pursue business opportunities in renewable energy space including solar, wind, electric mobility, hydrogen and waste-to-energy segments.
The company would begin by setting up a 1 GW of renewable energy portfolio by 2025... Read more..
Source: Economic Times

Delhi govt to ask aggregators to completely switch to electric vehicles

The Delhi government is going to ask e-commerce companies, food delivery services and cab aggregators to completely switch to electric vehicles as it aims to increase the EV share in total vehicle sales to 25 percent by 2024 to check air pollution, according to officials.
It is also going to ask dealers and petrol pumps to not give fuel to vehicles without a pollution-under-check (PUC) certificate. Vehicle emissions account for around 40 percent of the city's air pollution.
"The government is going to take two major steps to check vehicular... Read more..
Source: Economic Times

Govt offers 75% subsidy on solar pumps for farmers

To support farmers in their irrigation requirements, Haryana’s department of new and renewable energy has decided to give 75% subsidy in the purchase of 3-10 horse power (HP) solar-powered pumps. The department has invited applications from eligible beneficiaries till December 27.
Gurgaon’s additional deputy commissioner Vishram Kumar Meena said that some 8,629 solar-powered pumps will be given to the farmers of Haryana on 75% subsidy. “These pumps will be given only to those farmers who are into micro-irrigation like drip or sprinkler irrigation and irrigate fields by... Read more..
Source: Times of India

Brighter days await renewable energy space; investments likely to cross $15 billion in 2022

After witnessing cloudy skies this year, the country’s renewable energy sector is expected to boom with a likely investment of over $15 billion in 2022 as the government focusses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175GW renewable capacity target.
India, which has an installed renewable energy generation capacity of a little over 150GW, aims to reach 175GW in 2022. Out of the total mix, 100GW would be from solar, 60GW from wind, 10GW from bio-power and 5GW from small hydropower projects.
... Read more..
Source: Hindu

NMCG & TERI Launch Centre of Excellence on Water Reuse

The Director General of National Mission for Clean Ganga (NMCG) and the Director General of The Energy and Resources Institute (TERI) launched the NMCG-TERI’s Centre of Excellence (CoE) on Water Reuse at the TERI Headquarters in New Delhi. The CoE on Water Reuse is the first of its kind to be established in the country through a collaboration between NMCG and TERI.
The Centre is a quadripartite alliance between NMCG, TERI, industry partners and industry representative bodies, to come up at the TERI campus in Gwal Pahari, Gurugram, will be meeting the objectives of... Read more..
Source: PIB

REC signs agreement with KfW Development Bank to finance Power Sector and Renewable Energy Projects

REC Limited has entered into an agreement with KfW Development Bank for availing ODA term loan of USD 169.5 million under Indo-German Bilateral Partnership in accordance with the approval granted by Department of Economic Affairs, Ministry of Finance, Govt. of India. Proceeds of ODA loan will be deployed for part financing of innovative Solar PV Technology based generation Projects in India at competitive interest rates. This is the fifth credit line signed between REC Limited and KfW for financing of Power Sector Projects and third credit line for financing of Renewable Energy Projects... Read more..
Source: PIB

SJVN, DVC to harness 2000 MW floating solar power projects

State-owned SJVN and Damodar Valley Corporation have inked an MoU for harnessing 2000 MW floating solar energy projects in their command areas.
As per the Memorandum of Understanding, SJVN and Damodar Valley Corporation (DVC) will jointly identify suitable water bodies and available land under the SJVN and DVC command areas for setting up renewable power projects, a statement said.
SJVN Chairman & Managing Director Nand Lal Sharma said this initiative is in line with the renewable energy target set by the Centre and it would enable SJVN... Read more..
Source: Economic Times

India’s solar expansion programme may fall short of target: IEA

The International Energy Agency has said India’s ambitious programme for expansion of solar power in rural areas to provide energy security to farmers — PM-KUSUM — is likely to fall short of its target of setting up 31GW of solar power by 2022 on account of financing and implementation challenges. The Paris-based agency expects only 10GW, or roughly one-third capacity, of the total to come online by 2021-26.

“In addition, the KUSUM programme, supporting solar photovoltaic (PV) deployment in rural areas for agricultural consumers, has a target of commissioning about 31GW of... Read more..
Source: Hindu BusinessLine

Maharashtra plans radical shift to EVs by 2030

Maharashtra is considering a radical plan to deregister vehicles that run on petrol and diesel, followed by a complete ban from 2030, two people aware of the development said.
This green mobility plan by one of India’s most industrialized states is being led by Maharashtra’s tourism, environment and protocol minister Aaditya Thackeray and would be a first in India. It involves registering only electric vehicles (EVs), and those powered by other carbon emission-free next-generation fuels such as hydrogen starting 2030.
Maharashtra’s... Read more..
Source: Live Mint

Jagan launches industrial parks in YSR Kadapa; Solar, MSMEs in focus

In a boost to the industrial sector in the State, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Thursday inaugurated YSR Jagananna Mega Industrial Hub & YSR EMC (electronic manufacturing cluster) at Kopparthy, YSR Kadapa.
The industrial cluster is gearing up for opening with all the facilities such as ready to occupy sheds and plots, electricity and roads, even as several electronics manufacturing companies, solar power firms, MSMEs, and industrial associations took part in the event.
Speaking on the occasion, the Chief Minister... Read more..
Source: Economic Times

Pre-budget consultations with FM: Industry seeks incentive for Hydrogen, fuel cell development

Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman.
The customary pre-budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement.
More than 120 invitees representing seven stakeholder groups participated in eight... Read more..
Source: Economic Times

Power ministry working on resource adequacy plan guidelines

The Union Power ministry was working on resource adequacy plan guidelines to ensure 24x7 power supply to the consumers, a senior official said on Wednesday. The ministry was also discussing some bigger reforms to make discoms viable and was working on steps like de-regulating the sector or making regulation adaptability more industry friendly, the official said.
Resource adequacy is the ability of a utilities' reliable capacity resources (supply) to meet the customers' energy or system loads (demands) at all hours. The factor that affects supply is the... Read more..
Source: Economic Times

1.85 lakh EVs incentivized under Phase 2 of Fame scheme

A total of 1.85 lakh electric vehicles (EVs) have been incentivized under the second phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (Fame) scheme till now, according to the ministry of heavy industries (MHI).
The government had rolled out the ₹10,000 crore Fame scheme, which is designed to support the electrification of public and shared transport and help create a charging infrastructure. The scheme is an important part of the government’s strategy to reduce vehicular emissions and dependence on fossil fuels. Money allocated under... Read more..
Source: Live Mint

India needs to increase its capacity of non-fossil fuel energy, decrease carbon intensity, and achieve carbon neutrality by 2070 to help address COP 26 announcements

India needs to take multitude of approaches to address COP 26 announcements by Hon’ble PM.  They include increasing capacity of non-fossil fuel energy, decreasing carbon intensity, meeting half the energy requirement through renewable energy by 2030, reducing carbon emissions, and achieving net zero emissions by 2070.  Dr. Akhilesh Gupta, Sr. Adviser Department of Science & Technology (DST), Government of India highlighted these facts at the inaugural session of the online Training Programme on ‘Climate Change: Challenges and Response (for Scientists & Technologists)’.
... Read more..
Source: PIB

NITI Aayog expert group suggests scrappage policy for thermal plants

An expert group set up by NITI Aayog has suggested the creation of a thermal power plant (TPP) scrappage policy in a bid to bring down the dependency of the power sector on coal and to maximise the use of clean and more efficient energy sources such as renewables. The group was formed to examine the expected coal demand in the next decade and offer recommendations that can guide policy.
The findings of the public policy think-tank come at a time when India has committed to becoming carbon neutral by 2070 and to have 500 Giga Watt (GW) of renewable energy capacity... Read more..
Source: Hindu BusinessLine

SBI's PE arm hikes climate fund's target 5 times to Rs 2,000 crore

State Bank of India’s private equity capital arm has scaled up the target for its Climate fund by five times to Rs 2,000 crore on growing emphasis on investments in clean technology and environment-friendly businesses.
This climate and environment-focussed fund started off with a corpus of Rs 400 crore. When it approached the market for commitment, it got good traction from global investors. This led to scaling up of its corpus target, SBI group executivessaid.
SBICap Ventures, an SBI group company that is managing the fund,... Read more..
Source: Business Standard

NTPC plans to have 35 GW of renewable energy capacity by 2027

State-owned power giant NTPC has planned to have a total renewable energy (RE) capacity of 35 gigawatts (GW) by 2027 and is expected to generate 10 billion units (BU) of green energy in 2022-23, Parliament was informed on Tuesday.
"The expected green energy generation by NTPC in the next fiscal year (2022-23) is 10 billion units (BU). NTPC intends to achieve up to 35 GW of renewable energy (RE) capacity by 2027," Union Power Minister R K Singh said in a written reply to a query in the Rajya Sabha on Tuesday.
According to the reply, NTPC has... Read more..
Source: Economic Times