The ministry of new and renewable energy (MNRE) has amended the guidelines for implementation of Central Public Sector Undertaking (CPSU) scheme phase-II for setting up 12,000 MW grid-connected solar projects with viability gap funding (VGF). According to the amended guidelines, power produced by the government producers could be used on payment of mutually agreed usage […]
Day: May 11, 2021
JSW Hydro Energy raises $ 707 million via green bonds overseas
JSW Energy on Tuesday said that its arm JSW Hydro Energy has raised USD 707 million through green bonds abroad. “JSW Hydro Energy raises USD 707 million from international bond markets through debut Green Bond Issue under 144A / Reg S format,” a JSW Energy statement said. According to statement, JSW Hydro Energy has priced […]
Jet fuel demand recovery faces long haul as travel stays regional
Restrictions on long-distance flights and the surge in COVID-19 in India will keep jet fuel demand below pre-pandemic levels over the coming months, even as an easing of lockdown in some parts of the world boosts jet fuel demand. Vaccination success and reduced infection rates in Western countries are allowing travel to resume. It will, […]
India’s oil demand spared 2020 collapse despite Covid crisis
The brutal Covid-19 wave sweeping across India tallying grim daily records has surpassed the severity of the 2020 outbreak. On the surface, the near-term outlook looks bleak for oil refiners, but a closer look reveals marked differences between this year’s situation and the last. While a raft of bearish calls predicting even worse demand this […]
Global renewable energy grew at fastest pace in two decades in 2020: IEA
Renewable energy grew at its fastest pace in two decades last year, led by China, and will continue to grow in the next two years, a report by the International Energy Agency (IEA) showed on Tuesday. New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) last year, the largest year-on-year increase […]
Asian Development Bank to end coal, oil and gas financing
The Asian Development Bank will no longer finance coal mining or oil and natural gas activities, it announced in a draft policy statement on Friday, a move welcomed by environmental groups, which said it was a decade overdue. The multilateral development bank, which focuses on eradicating poverty in Asia, provided no timeline for its commitment. […]
Reliance, affiliates buy 3/4 of KG-D6 gas volumes
Billionaire Mukesh Ambani’s Reliance Industries Ltd and its affiliates have picked up more than three-fourths of the new gas volumes from the firm’s eastern offshore KG-D6 block which at current government dictated price will cost it less than half of the imported rate, sources said. Reliance and its partner UK’s BP Plc last week auctioned […]
InterGlobe Aviation to raise Rs 3,000 crore
InterGlobe Aviation, parent of the country’s largest airline IndiGo, on Monday said its board has approved raising up to Rs 3,000 crore through sale of shares to institutional investors. The fund raising plan of the company comes at a time when the airline industry is facing significant headwinds due to the coronavirus pandemic that has […]
Maharashtra invites bids for 500 MW wind-solar hybrid power
Soon after Maharashtra invited bids for 500 megawatt (MW) of solar power on May 7, state-run Maharashtra State Electricity Distribution Company (MSEDCL) has floated a tender to purchase 500 MW of additional electricity from wind-solar hybrid projects. In a wind-solar hybrid project, at least one third of the generation capacity is based on either wind […]
Three Egyptian Air Force flights reach India with medical supplies
India’s old partner in the Arab World Egypt has provided 30 tons of medical relief supplies which reach here on Monday. The relief supplies reached India on board of three Egyptian Air Force flights, and consist of 300 Oxygen Cylinders; 50 Oxygen Concentrators; 8000 Remdesivir vials; 30 Defibrillators shock; 20 Electrocardiograms; 20 ventilators; 100 patient […]
NHAI gets Health Ministry’s nod to start with 60 oxygen plants
The National Highways Authority of India has received the health ministry’s approval to construct more than 60 of over 500 oxygen plants planned at various locations in the country. NHAI is one of the organisations contracted by the Defence Research and Development Organisation to set up the plants, which are aimed at improving oxygen supplies […]
Oil gains after cyberattack forces shutdown of crucial U.S. pipelines
TOKYO: Crude prices rose on Monday after a major cyberattack forced the shutdown of critical fuel supply pipelines in the United States and highlighted the fragility of its oil infrastructure. Brent crude was up by 57 cents, or 0.8 per cent, at $68.85 a barrel by 0645 GMT, having risen by l.5 per cent last […]