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IREDA Chairman calls for Green Taxonomy and lower borrowing costs

India, News

Shri Pradip Kumar Das, Chairman & Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), emphasized the agency’s commitment to reducing borrowing costs and improving the bankability of India’s renewable energy sector at the CII Financing 3.0 Summit in Mumbai. He stressed the importance of a Green Taxonomy in accelerating the growth of India’s green energy initiatives. During his address on “Green Financing, Climate Risks and Sustainable Taxonomy: Way Forward,” Shri Das highlighted…

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NCT approves six new projects worth Rs 96.7 billion

India, News

The National Committee on Transmission (NCT) recently recommended six interstate transmission system (ISTS) schemes with a total project outlay of nearly Rs 96.7 billion, to be implemented under the tariff-based competitive bidding (TBCB) mechanism. These schemes aim to enhance India’s power transmission infrastructure across various states. The first scheme focuses on developing a transmission system to supply power to green hydrogen and ammonia manufacturing in the Kandla area of Gujarat, with a planned capacity of…

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India-GCC trade hits $162 billion, growing ties in energy, defence, and tech

India, News

India’s trade with the Gulf Cooperation Council (GCC) reached USD 162 billion last year, accounting for 15% of India’s total trade. This milestone, highlighted by Aseem R Mahajan, Joint Secretary – Gulf, Ministry of External Affairs, was announced during the ‘India MENA Business Dialogue: Bridging Economics, Fostering Growth’ event organised by FICCI. The event emphasised the expanding partnership between India and the Gulf, covering crucial sectors such as energy, defence, security, and health. Despite fluctuations…

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EDF Renewables wins bid to build Israel’s largest solar plant at record low price

Global, News

EDF Renewables, a subsidiary of the French energy giant EDF, has secured a contract from the Israeli government to build and operate the country’s largest solar plant. The 300 MW project will be constructed near the southern city of Dimona in the Negev desert, as announced by the Israeli Ministry of Energy and Infrastructure. EDF Renewables submitted a bid of just below ILS 0.07 ($0.019) per kWh, marking the lowest price ever recorded in an…

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Norway’s Norges Bank commits €900 million to Copenhagen Infrastructure Partners’ renewable energy fund

Global, News

Norway’s Norges Bank Investment Management has pledged €900 million ($1.004 billion) to Copenhagen Infrastructure Partners’ (CIP) renewable energy fund, CI V. This fund will focus on developing renewable energy projects, including wind and solar, across various regions. The investment aligns with the Ministry of Finance’s 2019 mandate, which supports investments in unlisted renewable energy infrastructure. The partnership also includes a €250 million investment by Copenhagen and Elgin’s retained management into the solar developer Elgin Energy,…

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Indian Railways eyes nuclear power to boost renewable energy usage

India, News

Indian Railways is considering using nuclear power through captive units as part of its strategy to increase reliance on non-fossil fuel sources. Aiming to become a net-zero carbon emitter by 2030, the Railways expects to need 30,000 MW of renewable capacity by 2029-30 to achieve this target. Alongside nuclear power, Indian Railways is already working on commissioning solar power units, wind-based power plants, and exploring hydel power options. In each of these areas, the Railways…

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RECPDCL hands over Rajasthan power transmission project to Apraava Energy

India, News

REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of REC Limited under the Ministry of Power, has handed over the Special Purpose Vehicle (SPV), Rajasthan IV-A Power Transmission Limited, to Apraava Energy Private Limited (AEPL). This project aims to facilitate the evacuation of power from the Rajasthan Renewable Energy Zone Ph-IV (Jaisalmer/Barmer Complex). Apraava Energy was selected as the Transmission Service Provider (TSP) through a Tariff-based Competitive Bidding (TBCB) process managed by RECPDCL. The…

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Italy implements FER 2 Decree to boost innovative renewable energy projects

Global, News

On August 13, 2024, Italy’s Ministry of the Environment and Energy Security (MASE) implemented the FER 2 Decree, aimed at supporting innovative renewable energy plants with high generation costs and low environmental impact. The decree targets specific types of plants, including biogas and biomass plants with capacities up to 300 KW and 1,000 KW, respectively, as well as thermodynamic solar, offshore floating wind, and floating photovoltaic installations. These plants must meet stringent eligibility criteria, such…

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Power Ministry clarifies standards for wind turbine operations at high temperatures

India, News

The Indian Power Ministry has issued new guidelines stating that wind power plants with Wind Turbine Generators (WTGs) operating at rated output at 40°C, without any de-rating, will comply with the normal operating range of the International Electrotechnical Commission (IEC) standard. De-rating refers to operating a turbine at lower power than its maximum capacity. This clarification comes in response to issues raised by the Wind Power Producers Association (WIPPA) regarding difficulties in obtaining approvals for…

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Kirloskar Solar partners with GSL Energy Solutions for Kerala solar projects

India, News

Kirloskar Solar has appointed Kochi-based GSL Energy Solutions as its exclusive project partner for six districts in Kerala. This partnership aims to develop solar projects totaling 5 MW, valued at around Rs 20 million, during the 2024-25 period. The collaboration will focus on driving commercial and residential solar projects across Ernakulam, Kottayam, Idukki, Pathanamthitta, Alappuzha, and Kollam. Kerala’s favorable climate, except during monsoons, and the availability of Ministry of New & Renewable Energy (MNRE) subsidies…