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ISA to launch $100 million fund for solar power in Africa
The International Solar Alliance (ISA) will launch a $100 million Global Solar Facility to catalyze up to $1.5 billion in funding to expand decentralized solar power in Africa, where over 700 million people lack access to electricity. ISA is also developing an insurance mechanism to boost funding in poorer countries. Both initiatives will be announced at ISA’s first international solar festival, scheduled for Thursday and Friday in the national capital. ISA Director General Ajay Mathur…
Maharashtra cabinet approves Rs 810 billion worth of projects
The Cabinet of Maharashtra has approved seven major industrial projects worth over Rs 810 billion, for sectors including lithium batteries, electric vehicles, and semiconductors. Key projects include JSW Energy PS Eleven Ltd’s Rs 250 billion lithium battery plant in Nagpur and JSW Green Mobility Ltd’s Rs 272 billion electric and hybrid car manufacturing facility in Chhatrapati Sambhajinagar. Additionally, an integrated semiconductor project costing Rs 120 billion will be established in Taloja. The approved projects will…
World likely to miss UN target to triple renewable capacity by 2030: IEA
The world is expected to fall short of the UN’s target to triple renewable energy capacity by 2030, despite many countries surpassing their national targets, according to the International Energy Agency’s (IEA) latest report, Renewables 2024. The report forecasts the deployment of over 5.5 TW of renewable energy by 2030, a threefold increase compared to 2017-2023, equivalent to the combined current power capacity of China, India, the US, and the EU. Around 70 countries, representing…
Namibia secures €7.5 million grant for electrification project
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…
JNCASR, Hindustan Zinc partner to develop zinc-ion batteries for low-cost energy storage
The Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) and Hindustan Zinc Limited (HZL) have signed a Memorandum of Understanding (MoU) to develop and commercialize zinc-ion battery technologies. This collaboration aims to create new variants of zinc materials, offering a low-cost, domestically sourced alternative to expensive imported lithium-ion batteries. Zinc-ion batteries, utilizing abundant and inexpensive raw materials, hold great promise for large-scale energy storage due to their superior performance and safety. Recent advancements in zinc…
NLC India plans Rs 500 billion investment to triple renewable energy capacity
Lignite-to-power producer NLC India Ltd (NLCIL) plans to invest approximately Rs 500 billion to increase its renewable energy capacity from 1.43 GW to 10.11 GW. NLC India Green Energy Limited (NIGEL), a wholly-owned subsidiary of NLCIL, has been established to focus on renewable energy generation. The company aims to achieve a 50% renewable energy (RE) share in its total planned capacity. Currently, 2 GW of renewable energy projects are under implementation, with plans to further…