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Trump as US president will deepen climate crisis: Policy experts

Global, News

Donald Trump’s potential return to the US presidency has prompted apprehension regarding America’s climate policy trajectory. During his first term, the United States withdrew from the Paris Climate Agreement, casting doubts on its commitment to global climate efforts.  Trump has also been critical of climate finance mechanisms, such as the Green Climate Fund, labelling them as unfavourable wealth redistribution schemes while endorsing expanded fossil fuel production. Following his re-election, Trump has promised to increase domestic…

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Avaana Capital raises $135-mn climate-tech VC fund

India, News

Avaana Capital, India’s climate-focused venture capital firm, has infused its Avaana Climate and Sustainability Fund with USD 135 million, supported by prominent institutional investors, including the Green Climate Fund (GCF).  Anjali Bansal, partner at Avaana Capital, highlighted the significance of this support, emphasizing the role of innovation in driving climate action and creating long-term impact. The fund aims to build the next generation of climate-first companies across three core sectors—Energy and Resource Management, Mobility and…

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Pioneering Change: Coal-to-Clean Energy Success Stories

Analysis, Features

Financial institutions (FIs) are stepping in with coal transition mechanisms (CTMs), financial tools designed to help overcome challenges such as high capital costs and the insulation of coal assets from competition. These tools have enabled early coal plant retirements in various markets worldwide. This article presents case studies on the successful early retirement of coal plants, including the Tocopilla power station in Chile, the Logan and Chambers generating stations in the United States, and the…

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Fossil fuel dominance in electricity to end by 2030, renewables to take lead: RBI

India, News

The Reserve Bank of India (RBI) projects that fossil fuels’ dominance in electricity generation will end by the end of this decade, with renewable energy expected to account for over 50% of global electricity generation. In its latest report, the central bank highlights an accelerated shift toward clean energy, driven by unprecedented capital investment and the rapid deployment of clean technologies. The RBI report emphasizes that cleaner power generation could enable substantial emissions cuts, buying…

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India secures $386 bn investment commitments for renewable energy at RE-Invest 2024

India, News

Ministry of Renewable Energy has received investment commitments totalling $386 billion from banks and financial institutions at the RE-Invest conference in Gandhinagar, Gujarat. These investments aim to help India double its clean electricity capacity by 2030, targeting 500 GW of non-fossil capacity. ReNew, a major renewable energy company pledged to expand its renewable capacity from 10 GW to 50 GW by 2030, with 10 GW dedicated to storage. The company also plans to produce 1…

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RWE installs offshore converter platform at 1.4 GW Sofia wind farm

Global, News

RWE has installed a high-voltage direct current (HVDC) offshore converter platform (OCP) at the 1.4 GW Sofia offshore wind farm in UK waters. This technology is crucial for converting high-voltage alternating current (HVAC) to HVDC, enabling efficient energy transmission. The project remains on track to be fully operational by 2026, providing enough electricity to power 1.2 million UK homes. The OCP, which took over two and a half years and more than 13 million hours…

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India’s silver imports set to nearly double in 2024 amid rising solar demand

India, News

India’s silver imports are expected to almost double this year due to increased demand from solar panel and electronics manufacturers and as investors look to silver for better returns than gold, according to leading importers. Higher imports by the world’s largest silver consumer could support global prices, which are near their highest levels in over a decade. Last year, India imported 3,625 metric tons of silver. Chirag Thakkar, CEO of Amrapali Group Gujarat, a major…

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Indo-German Power Sector Collaboration

Analysis, Features

Germany’s Climate Strategy in the Power Sector Germany has long sought to lead international climate policy, championing the Kyoto Protocol and setting 1990 emissions targets. Despite setbacks in the 1990s and 2000s, Germany supported the European Union’s (EU) emissions trading system (ETS) and, following the Paris Agreement, the EU Green Deal for climate neutrality by 2050. Under Germany’s 2020 EU presidency, the 2030 emissions reduction target was raised to at least 55% below 1990 levels….