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DMRC invites bids to procure 500 MU renewable energy to power low-carbon operations
Economic Times
·
7d ago
Medial
The Delhi Metro Rail Corporation (DMRC) plans to procure 500 million units of renewable energy annually to enhance its reliance on clean power. The initiative aims to power the metro's operations and includes a 25-year power purchase agreement to source energy from a grid-connected solar power plant with battery storage. Currently, DMRC sources 33% of its power from renewables and this move could increase this to over 60%, contributing to India's low-carbon transport goals.
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Industry sees boost from low green ammonia prices
Economic Times
·
2m ago
Medial
Initial tenders have revealed low prices for green ammonia, boosting its potential in the fertilizer industry, according to experts. NTPC Renewable Energy, ACME Cleantech, and Oriana Power won bids to supply substantial annual quantities at competitive rates. This aligns with global benchmarks and indicates a significant price convergence with grey ammonia, driven by reduced costs in renewable power and electrolysers. The auctions under SECI's SIGHT scheme reflect optimism for the Indian green hydrogen sector.
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JSW Neo Energy, Blackstone, other cos line up for Statkraft wind-down
Economic Times
·
2m ago
Medial
JSW Neo Energy, Blackstone, and Serentica Renewables have placed financial bids to acquire Statkraft's wind and solar energy assets in India, following a three-month due diligence period. Statkraft, a Norwegian government-owned renewable power firm, plans to exit India, selling its assets in two segments. While bids for wind and solar are now submitted, hydro power assets will follow. Statkraft aims for a $1.5 billion value for its Indian portfolio, which includes significant renewable energy infrastructure.
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Survey calls for tax breaks on EVs, subsidies on renewable energy for low-carbon lifestyles
YourStory
·
8m ago
Medial
The pre-budget survey 2024-25 emphasizes tax breaks for electric vehicles and subsidies for renewable energy to encourage low-carbon lifestyles. It highlights financial incentives as effective in promoting sustainable practices. The Indian government has initiated various environmental measures like PM KUSUM to support solar power. The survey also stresses educating the public on environmental impacts and leveraging community engagement to inspire sustainable behaviors, fostering a culture of low-carbon living and driving behavioral change over time.
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This Tata company is riding the biggest megatrend today. Will investors gain?
Livemint
·
11m ago
Medial
Tata Power, previously reliant on coal for energy generation, has successfully transformed itself into a renewable energy powerhouse. With a focus on simplifying operations, divesting underperforming assets, and investing in renewables, the company now generates 40% of its capacity from clean energy sources. Tata Power aims to cut down thermal energy reliance to 30% in the next six years and achieve carbon neutrality by 2045. The company is also leading India's electric vehicle (EV) revolution, with Tata Motors as its exclusive charging partner, and plans to invest $8.3-9 billion to quadruple its renewable energy capacity by 2030.
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Google buys stake in Taiwan solar power firm owned by BlackRock
Economic Times
·
1y ago
Medial
Google has announced its investment in New Green Power (NGP) in Taiwan and plans to purchase up to 300 megawatts of renewable energy from the company. This move is part of Google's efforts to reduce carbon emissions and promote sustainability in its operations and supply chain. NGP, owned by BlackRock's Climate Infrastructure business, is a major solar developer in Taiwan. Google aims to run on carbon-free energy and plans to share the purchased solar power with its suppliers, helping lower its Scope 3 emissions.
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Serentica wants $300 million. A stake sale is likely.
Livemint
·
1y ago
Medial
Serentica Renewables, backed by Sterlite Power, is looking to raise approximately $300 million by selling a minority stake to finance its growth plans. The company, focused on the commercial and industrial (C&I) segment, intends to develop 4 GW of renewable energy capacity, including 2.55 GW of solar power and 1.4 GW of wind power. This move comes as the C&I segment in India attracts strong investor interest due to the country's projected green energy trajectory and regulations allowing large power users to procure energy from the open market rather than the grid.
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Jindal Stainless to invest ₹700 crore towards renewables, sustainability projects
Thehindubusinessline
·
1y ago
Medial
Jindal Stainless Ltd (JSL) is planning to invest ₹700 crore over the next three years in sustainability projects, including renewable energy, to reduce its carbon footprint. The company aims to have 300-350 MW of renewable power sources available across its manufacturing units in India, with plans to be net carbon zero by 2050 and reduce emissions by 50% by 2035. The major renewable projects consist of two 100 MW RE-RTC (renewable energy – round the clock) projects, a 34.5 MW peak rooftop and floating solar project, and green hydrogen plants at two locations.
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Gentari to supply green power to AM Green Ammonia | Company Business News
Livemint
·
10m ago
Medial
Renewable energy company Gentari will provide 650 MW of round-the-clock green power to AM Green Ammonia India. The power purchase agreement will enable Gentari to deliver carbon-free energy to AM Green Ammonia's upcoming green ammonia facilities. The project will include 2,400 MWp of renewable energy capacity from solar and wind projects, as well as 350 MW/2,100 MWh of energy storage. Gentari aims to expand India's renewable energy capacity and contribute to the green electron-to-molecule chain. The agreement aligns with the Renewable Fuels of Non-Biological Origin framework and supports AM Green Ammonia's goal of becoming one of the world's largest green ammonia platforms.
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Meta pushes zero-carbon energy strategy with solar deal
Economic Times
·
10m ago
Medial
Tech giant Meta has signed a contract with Invenergy, a renewable energy firm, for 760 megawatts of solar power capacity. Meta is actively searching for cleaner power sources, including nuclear, to meet its expanding power needs driven by the adoption of artificial intelligence. The agreement involves solar facilities across four US states and brings Meta's total renewable energy agreements with Invenergy to over 1 gigawatt. The projects are expected to start operations between 2024 and 2027 and will supply local power grids while Meta receives clean energy credits. The move supports Meta's goal of powering all operations with renewable energy.
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Tata Power arm to set up 80 MW FDRE project at Rs 1,200 cr
Economic Times
·
17d ago
Medial
Tata Power Renewable Energy Ltd (TPREL) has partnered with Tata Power Mumbai Distribution to launch an 80 MW Firm and Dispatchable Renewable Energy (FDRE) project costing Rs 1,200 crore. This project, featuring solar, wind, and battery storage, aims for grid reliability with a guaranteed 4-hour peak power supply. Set for completion in 24 months, it will produce 315 million units of electricity annually, reducing over 0.25 million tons of carbon emissions, benefiting 8 lakh customers.
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