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Fossil fuels to supply 40-60% of energy by 2050 despite clean energy push: McKinsey

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A McKinsey report reveals that fossil fuels will continue to provide 40-60% of global energy by 2050, due to slower adoption of electric vehicles (EVs) and challenges in scaling clean energy technologies. Gas will remain a key energy source, stabilizing grids as renewables, though growing, are intermittent. Despite fossil fuel consumption plateauing between 2025 and 2035, investments will persist to ensure energy reliability during the transition. Global energy demand is set to rise by up…

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India signs key IPEF agreements on Clean and Fair Economy

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On 21 September 2024, India signed agreements under the Indo-Pacific Economic Framework (IPEF) for Clean Economy, Fair Economy, and an overarching IPEF arrangement during Prime Minister Modi’s visit to the US. IPEF Clean Economy Agreement (Pillar-III) The Clean Economy Agreement focuses on boosting technical cooperation and clean energy technology deployment. It aims to accelerate renewable energy investments and provide concessional financing for MSMEs. Initiatives like the IPEF Catalytic Capital Fund, with USD 33 million (Rs…

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Kerala’s Green Hydrogen Valley to be set up with Rs 185.42 billion investment

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The Kochi Green Hydrogen Valley project in Kerala is set to transform the state’s energy landscape with a total estimated investment of Rs 185.42 billion. The project allocates Rs 41.66 billion for the development of electrolyzer and ammonia plants, while Rs 126.87 billion will be directed toward renewable energy expansion. The project will be implemented in three phases: Phase I (2024-25) will focus on developing green hydrogen clusters and renewable energy for industrial electrification; Phase…

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Solar91 Cleantech files for Rs 1 billion IPO on BSE SME platform

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Solar91 Cleantech, a Jaipur-based solar energy solutions provider, has filed its preliminary papers for an initial public offering (IPO) on the BSE SME platform. The IPO consists of a fresh issue of 5.436 million shares at a face value of Rs 10 each, targeting to raise approximately Rs 1 billion through the book-building route. The proceeds will be used for project development as an independent power producer (IPP), along with meeting working capital needs and…

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PGCIL, Adani, Sterlite Power in race for Gujarat’s HVDC transmission project

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Three players—Power Grid Corporation of India Ltd (PGCIL), Adani Energy Solutions Ltd (AESL), and Sterlite Power—have qualified to compete for a major interstate transmission system (ISTS) scheme in Gujarat, involving high-voltage direct current (HVDC) technology. The scheme is part of the Khavda V-A Power Transmission project, aimed at evacuating 8 GW of renewable energy from the Khavda region in Gujarat. Developer selection is being conducted through tariff-based competitive bidding (TBCB). The project is estimated to…

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BHEL wins Rs 61 billion order from NTPC for Sipat thermal power project

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Bharat Heavy Electricals Ltd (BHEL) has announced a major order worth over Rs 61 billion from NTPC Ltd for an EPC package at the 1×800 MW Sipat supercritical thermal power project (Stage III) in Bilaspur district, Chhattisgarh. The order includes the supply of equipment such as boilers and turbine generators, along with erection, commissioning, and civil works. The contract was awarded through international competitive bidding. The project is scheduled for completion by September 20, 2028,…

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Datta Power subsidiary signs Rs 15 billion MoU with REC for 500 MW renewable projects

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Adyant Enersol Pvt Ltd, a subsidiary of Datta Power Infra, has signed a strategic memorandum of understanding (MoU) with REC Ltd for financing Rs 15 billion to develop 500 MW of renewable energy projects. The MoU was formalized at the 4th Global RE-INVEST Summit in Gujarat. This partnership sets the stage for Datta Infra’s larger vision of developing 2 GW of wind, solar, and wind-solar hybrid projects across Rajasthan, Madhya Pradesh, Andhra Pradesh, and other…

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Godrej Electricals commissions 25 MW solar project in Maharashtra

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Godrej Electricals and Electronics, a unit of Godrej & Boyce, has commissioned a 25 MW AC ground-mounted solar project in Dhule, Maharashtra for the Maharashtra State Power Generation Company Limited (Mahagenco). Spread across 52 acres, the plant is expected to generate 45 million units of power annually, contributing to Maharashtra’s renewable energy goals by supplying power to the open market. Custom-designed structures with varied heights and wind resistance capabilities were implemented to maximize efficiency, addressing…

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PFC invites bids for 3 GW renewable energy transmission project in Gujarat

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Power Finance Corporation (PFC), through its subsidiary PFC Consulting, has issued a tender for selecting a transmission service provider to establish an inter-state transmission system (ISTS) for evacuating 3 GW of renewable energy from Raghanesda, Gujarat under Phase I. The last date for bid submission is November 19, 2024. Bidders are required to submit an earnest money deposit of Rs 176 million, with the project expected to start commercial operations within 24 months. The 765/400…

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Ministry of Power issues EV charging infrastructure guidelines for 2024

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The Ministry of Power has released guidelines for the installation and operation of electric vehicle (EV) charging infrastructure across India. The 2024 guidelines apply to public, semi-public, and private charging stations, allowing anyone to set up and operate EV stations as it is now a de-licensed activity. Power utilities are required to provide electricity connections within 3 to 90 days, depending on the location. Public Charging Stations can be established on public land at subsidized…