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Namibia secures €7.5 million grant for electrification project

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The National Planning Commission of Namibia, alongside the Ministry of Mines and Energy (MME), Northern Regional Electricity Distributor (NORED), and the German development bank KfW, have signed a grant agreement for €7.5 million. This funding aims to increase electricity access for households and small to medium enterprises under Namibia’s Access-to-Energy Project. The grant will support both peri-urban on-grid and rural off-grid electrification, focusing on northeast and northwest regions of Namibia. The project plans to install…

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China approves $31 billion investment in 11 new nuclear reactors

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China’s State Council has approved the construction of 11 nuclear reactors across five provinces: Jiangsu, Shandong, Guangdong, Zhejiang, and Guangxi. The projects, with a total investment of 220 billion yuan ($31 billion), are expected to be completed in approximately five years. The China National Nuclear Corporation (CNNC) will build the world’s first high-temperature gas-cooled reactor combined with a pressurized water reactor (PWR). In Jiangsu province, CNNC plans to construct two Hualong One PWRs and a…

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ACWA Power starts construction on 200 MW wind and 100 MW battery storage project in Uzbekistan

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ACWA Power has commenced construction on a 200 MW wind power plant and a 100 MW battery energy storage system (BESS) in the Republic of Karakalpakstan, Uzbekistan. The project, valued at $260 million, is a partnership with JSC National Electric Grid of Uzbekistan (NEGU). The Beruniy Wind Power Plant is expected to generate 800 million kWh of clean energy annually, enough to power 292,000 households. The initiative will save 212 million cubic meters of natural…

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EDF Renewables UK to add 300 MW of battery storage

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EDF Renewables UK is set to enhance the UK’s energy infrastructure by introducing 300 MW of battery storage projects.  The company’s six battery storage projects, currently under construction, are expected to be operational by summer 2025. These include a 57 MW site in Braintree, Essex, and a 47.5 MW site in Indian Queens, Saint Austell, Cornwall. A 52 MW battery in Sundon, Bedfordshire, has already been energised, and Dorset Council has approved a 47.5 MW…

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China’s coal stockpiles soar, signalling shift in energy landscape

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China is experiencing a rapid buildup of coal stockpiles, with inventories reaching over 635 million tons by the end of June, up from below 90 million tons during the 2021 electricity supply crisis. This surge, fueled by increased domestic production and imports, may push coal prices lower during the typical autumn slowdown, affecting miners globally. The surge stems from China’s response to the 2021 energy crisis, where coal shortages led to power cuts. In response,…

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India and Africa aim to double trade to USD 200 billion in seven years

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Commerce and Industry Minister Piyush Goyal highlighted the vast potential for economic cooperation between India and Africa, proposing to double two-way trade to USD 200 billion in the next seven years. Speaking at CII’s India-Africa business conclave, Goyal identified key sectors for collaboration, including agriculture, pharmaceuticals, mining, tourism, auto, critical minerals, and renewable energy. Goyal emphasized the need to engage more African countries in India’s duty-free tariff preference (DFTP) scheme, noting that currently, only a…

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India and Poland strengthen ties, focus on energy security and peace

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During a visit to Poland, Prime Minister Narendra Modi and Polish Prime Minister Donald Tusk committed to enhancing energy security and upholding international peace. The leaders agreed to collaborate in multilateral forums to ensure a stable, rules-based international order, marking the 70th anniversary of their diplomatic relations. Amid global conflicts and tensions, both Prime Ministers stressed the importance of energy security, particularly in light of the war in Ukraine, which has negatively impacted global food…

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Capital-A to launch ‘Fund 2’ to boost cleantech, fintech, and deeptech startups

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Early-stage venture capital firm Capital-A is set to launch its second fund, “Fund 2,” aimed at accelerating the growth of startups in emerging sectors like cleantech, fintech, and deeptech. This move follows the success of its first fund, launched in 2021, which raised Rs 2.5 billion to support a range of innovative ventures. Ankit Kedia, Founder and Lead Investor at Capital-A, emphasized that Fund 2 will focus on climate tech, fintech, and deeptech, reflecting the…

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BC Jindal Group to invest $2.5 billion in India’s renewable energy sector

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BC Jindal Group has announced its entry into India’s renewable energy sector, planning to invest approximately $2.5 billion over the next five years. The group has established Jindal India Renewable Energy (JIRE) to manage this endeavour, aiming to achieve decarbonization and ensure responsible environmental stewardship. JIRE’s goal is to produce 5 GW of power through hybrid, solar, wind, and Floating Solar and Direct Renewable Energy (FDRE) technologies. Currently, BC Jindal Group is developing 1,200 MW…

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India, US strengthen energy sector collaboration, focus on grid modernization and energy storage

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India and the United States have expanded their bilateral cooperation in the energy sector, focusing on grid modernization, energy storage, and enhancing manufacturing capacity. This development was highlighted during a meeting between Union Power Minister Manohar Lal Khattar and John Podesta, Senior Advisor to the President for International Climate Policy. Manohar Lal emphasized the strong partnership between India and the US and reiterated the Ministry of Power’s commitment to the ‘Power & Energy Efficiency Pillar’…