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India and Saudi Arabia explore bilateral investment opportunities in energy and power sectors

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The governments of India and Saudi Arabia discussed various opportunities for bilateral investments in diverse areas in the public and private sectors, including refining and petrochemical plants, new and renewable energy, and power. They reviewed measures aimed at promoting two-way investments in a mutually beneficial manner at the first meeting of the India-Saudi Arabia High-Level Task Force on Investments.

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BOEM finalises environmental review for wind leases in New York Bight

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The US Bureau of Ocean Energy Management (BOEM) has completed an environmental review for six wind lease areas in the New York Bight, potentially generating up to 7GW of offshore wind energy.  This development supports the Biden-Harris administration’s goal of deploying 30GW of offshore wind capacity by 2030. The lease areas span 488,000 acres off the coasts of New York and New Jersey, with the potential to supply power to two million homes. BOEM’s review,…

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Rajasthan unveils RIPS to boost renewable energy investments

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The Rajasthan government has introduced the Rajasthan Investment Promotion Scheme (RIPS) to enhance renewable energy investments, tapping into its potential of 24.22 GW in solar energy and 5.19 GW in wind energy. Under RIPS, enterprises investing in solar, wind, hybrid, and energy storage projects, including battery energy storage systems and biomass, receive various incentives. The scheme offers a 100 per cent subsidy on cross-subsidy and additional surcharges for renewable energy used in green hydrogen production…

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SK Innovation and SK E&S merge to form largest private energy company in Asia-Pacific

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SK Innovation and SK E&S, two subsidiaries of the Korean conglomerate SK Group, have agreed to merge, creating the largest private energy company in the Asia-Pacific region. This strategic move by SK Group aims to establish a solid foundation for future growth in its energy businesses. The merger, set to be finalized on 1 November 2024, will integrate SK Innovation’s oil and battery operations with SK E&S’s liquefied natural gas (LNG) and renewable energy businesses….

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AESL incorporates subsidiary to explore international transmission projects

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Adani Energy Solutions Limited (AESL) has established a wholly owned subsidiary, Adani Energy Solutions Global Limited (AESGL), with an initial share capital of USD 27,000, divided into 27,000 shares at USD 1 per share.  AESL holds 100% ownership of AESGL, which aims to explore new business opportunities in transmission projects outside India.

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Yunneng Wind Power completes foundation installation at 640MW Yunlin offshore wind project

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Yunneng Wind Power, a subsidiary of Skyborn Renewables, has successfully installed all 80 foundations at the 640 MW Yunlin offshore wind project in Taiwan, marking a significant milestone toward the project’s full completion by the end of 2024. This achievement keeps the Yunlin offshore wind farm on track, enhancing Taiwan’s renewable energy capacity. Significant progress has been made, with 68 turbines already installed and 52 of them actively supplying clean electricity to the grid. In…

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ADB sanctions $434.25 million loan for renewable energy development in Assam

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The Asian Development Bank (ADB) has approved a $434.25 million loan to support renewable energy initiatives and enhance energy security in Assam.  The project will establish a 500 MW grid-connected solar photovoltaic facility in the Karbi Anglong district, along with a grid-connected battery energy storage system to stabilize the grid and manage peak power demands. This initiative aligns with Assam’s renewable energy goals, contributing to the state’s renewable energy roadmap and increasing solar capacity to…

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