With the 5 million metric tonnes (MMT) installed capacity under the National Green Hydrogen Mission, India can reduce imports of fossil fuel worth Rs 1 lakh crore by 2030, Union Minister R K Singh said on Tuesday. In January 2023, the Union Cabinet approved the National Green Hydrogen Mission with an outlay of Rs 19,744 […]
Category: Power
Power
‘On track to have 50% installed power capacity via non-fossil fuel sources’
India is on its track to have 50 per cent of its installed power generation capacity from non-fossil sources by 2030, Union Minister R K Singh informed the Rajya Sabha on Tuesday. The country’s installed power generation capacity from non-fossil source is 186.46 gigawatt (GW), which is 43.82 per cent of its total installed capacity, […]
Adani Group stocks soar as US dubs Hindenburg allegations irrelevant
The stocks of companies under the Gautam Adani-led group soared on Tuesday as investor confidence was bolstered by a media report stating that the US government did not find short-seller Hindenburg Research’s allegations of corporate fraud against the conglomerate relevant before extending a $553 million loan for a container terminal in Sri Lanka. Another key […]
Gautam Adani pitches for balanced approach towards energy at COP28
As world leaders dwell on the language of the final outcome of climate talks, billionaire Gautam Adani on Tuesday made a pitch for adopting a balanced approach that takes into account energy costs and availability while continuing to accelerate on green ambitions. At the 28th UN Climate Change Conference in Dubai, called COP28, 118 governments […]
Adani Green Energy raises $1.36 billion in latest project finance round
Adani Green Energy (AGEL) on Tuesday said it has sealed its largest project financing of $1.36 billion senior debt facility. The funds are to be utilised towards the development of its planned renewable energy park at Khavda in Gujarat. The company added the latest project finance is part of its Construction Financing Framework to enhance […]
Adani group stks zoom up to 19%; Adani Green, Ambuja regain Rs 1 trn m-cap
Shares of Adani Group companies continued their upward movement for the second straight day and rallied up to 19 per cent backed by heavy volumes following the landslide victory of the Bhartiya Janta Party (BJP) in three state elections. In the past two trading days Adani Group stocks have surged up to 31 per cent […]
Adani Green Ltd seals its biggest ever project financing of $1.36 billion
Adani Green Energy Limited (AGEL) announced to provide funding of $1.36 billion to boost its construction financing framework to $ 3 billion backed by a consortium of renowned international banks. The green loan facility will help enable the development of AGEL, the world’s largest renewable energy park, at Khavda in Gujarat. The company, in a […]
Uttar Pradesh discoms estimate energy procurement of Rs 85,000 crore
The Uttar Pradesh power distribution companies (discoms) have pegged energy procurement costs at almost Rs 85,000 crore in next financial year 2024-25. In their filings with the UP Electricity Regulatory Commission (UPERC), the power utilities claimed that the state would require about 145 billion units of power in the next financial year with the cost […]
US sets limits on sourcing material from China to receive EV tax credits
By Joe Deaux, Gabrielle Coppola and Ari Natter The Biden administration released long-awaited rules designed to block electric-vehicle manufacturers from sourcing battery materials from China and other foreign adversaries, while giving automakers some flexibility to comply with the new mandates. The guidelines, which were required as part of a deal to extend the $7,500 tax […]
Indian Oil opens its first EV battery swapping station in Kolkata
Indian Oil Corporation (IOC) on Monday opened its first battery-swapping station in Kolkata for electric vehicles (EV). The oil marketing PSU opened the facility at its retail outlet in New Town on the eastern outskirts of the city in collaboration with Sun Mobility, the company said in a statement, adding that this marks a significant […]
Adani group adds Rs 73,000 crore in mcap as investors lap up shares
The market capitalisation of Adani Group companies rose by nearly Rs 73,000 crore on Monday as investors lapped up shares of the power-to-port conglomerate after BJP’s electoral wins in three states, spurring hopes of regime continuity at the Centre. The Gautam Adani group’s market map once again neared the Rs 12-trillion mark, following sharp gains […]
India joins Battery Energy Storage Systems Consortium for RE integration
India on Monday became a member of the Battery Energy Storage Systems (BESS) Consortium, an initiative led by The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet (GEAPP). As part of this collaborative effort, India stands among the pioneering nations committed to securing 5 Gw of BESS commitments by the […]