Bharat Petroleum Corporation Limited (BPCL) and Coal India Limited (CIL) signed a non-binding memorandum of understanding (MoU) on December 2, 2024, in Mumbai.
The collaboration aims to explore the development of a coal-to-synthetic natural gas (SNG) project using surface coal gasification at Western Coalfields (WCL).
Surface coal gasification transforms coal into synthetic natural gas, providing a cleaner alternative to traditional coal-based energy.
Sumitomo Electric Industries Ltd has completed the Greenlink Interconnector Project. This milestone involved installing high-voltage direct-current (HVDC) and fiber optic cables for Greenlink Interconnector Ltd, using Sumitomo Electric’s innovative HVDC cross-linked polyethylene (XLPE) cables. The project connects the electricity grids of Ireland and the United Kingdom, with a new link between Great Island in County Wexford, Ireland, and Pembrokeshire, Wales, UK. Electricity will flow in both directions based on supply and demand in each country….
Non-bank lender Vivriti Capital has secured USD 25 million from the Asian Development Bank (ADB) to support climate finance initiatives. The senior secured debt facility has a four-year tenor and represents the first certified climate bond issuance by a private-sector non-banking financial company (NBFC) in India, according to an official statement.
Spanish renewable energy company Zelestra has signed a 25-year power purchase agreement (PPA) with NTPC to supply electricity from its 450 MW solar project in Rajasthan. This project will reduce CO2 emissions by 13,555.774 tonnes over the PPA’s duration. The solar project is part of Zelestra India’s plan to develop over six GW of renewable energy projects in the next three years. Zelestra, backed by EQT with USD 232 billion in assets, operates a 20…
A report by the Centre for Social and Economic Progress (CSEP) highlights potential financial challenges for India’s power discoms from the Ministry of Power’s plan to introduce green tariffs. The green tariffs aim to encourage renewable energy adoption, but CSEP warns that this shift could financially hurt discoms, especially if high-paying commercial and industrial consumers opt for cheaper green energy alternatives. According to the study, green tariffs could lead to a 15% financial loss of…
Emeren Group (SOL) reported a significant drop in its second quarter net income, falling to $392,000 from $8.35 million the previous year. Earnings per American Depositary Share (ADS) decreased to $0.01, compared to $0.14 in the same period last year. This fell short of analysts’ expectations, who had predicted a profit per share of $0.07, according to Thomson Reuters. The company’s adjusted EBITDA also declined, reaching $4.62 million, down from $9.31 million in the previous…
Orlen Group, through its subsidiary ORLEN Wind 3, has finalized the acquisition of two solar photovoltaic (PV) farms and a wind farm from EDP Renewables Polska, boosting its renewable energy generation capacity by more than 300 MW. The assets include solar PV farms in the Zielona Góra and Poznań provinces, and a wind farm in the Łódź province. This acquisition raises Orlen Group’s total installed capacity to 580 MW in onshore wind farms and over…