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NTPC Green receives SEBI approval for Rs 100 billion IPO

India, News

NTPC Green Energy, a subsidiary of NTPC Ltd, has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its Rs 100 billion initial public offering (IPO).  As India’s largest public sector renewable energy enterprise (excluding hydro) by capacity and power generation in FY 2024, NTPC Green Energy initially filed its IPO documents with SEBI on September 18, 2024. As of June 30, 2024, NTPC Green Energy managed 37 solar…

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Adani Green Energy posts 39% rise in quarterly net profit to Rs 5.15 billion

India, News

Adani Green Energy Limited (AGEL) reported a net profit of Rs 5.15 billion for the quarter ending September 2024, marking a 39% increase from Rs 3.71 billion in the same quarter last year. The company’s total income rose by 30.39% to Rs 33.76 billion during this period, up from Rs 25.89 billion recorded in the corresponding quarter of the previous year.

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Brookfield Properties to power Delhi-NCR campuses with renewable energy

India, News

Brookfield Properties will use renewable energy from its solar project in Bikaner, Rajasthan, to provide green power to four of its office campuses in the Delhi-NCR region. This marks the company’s first collaboration in India under the Inter State Transmission System (ISTS) bilateral framework. The initiative will supply 40% of the energy needs for tenants at the Candor TechSpace campuses located in Sector 48 and Sector 21 in Gurugram, and Sector 62 and Sector 135…

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GreenLine Mobility to expand LNG fleet, aims for 1,000 more trucks by March 2025

India, News

GreenLine Mobility Solutions Ltd, a key entity in Essar’s green mobility initiative, plans to expand its fleet by adding 1,000 Liquefied Natural Gas (LNG)-powered trucks by March 2025. This move aligns with India’s strategy to decarbonise the logistics sector and reduce emissions in its journey towards net zero by 2070. GreenLine’s CEO, Anand Mimani, emphasized the company’s commitment to sustainable logistics, aiming to meet the rising demand for eco-friendly solutions as corporations increasingly prioritize Environmental,…

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Gensol, Matrix to develop India’s first green steel production facility

India, News

Gensol Engineering has partnered with Matrix Gas & Renewables to establish India’s first green steel production facility using 100% green hydrogen.  The project, with a total capital expenditure of Rs 3.21 billion, will receive 50% capex incentives from the Government of India under the National Green Hydrogen Mission. Sanctioned as one of three pilot projects by MECON, in coordination with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE), the…

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European green electricity PPA prices fall 12.4% in Q3 2024, LevelTen reports

Global, News

According to LevelTen, a price tracking platform, European power purchase agreement (PPA) prices for green electricity dropped by 12.4% in Q3 2024 compared to the same period in 2023.  This decrease is attributed to declining inflation and reduced market volatility following the COVID-19 pandemic and the 2022 energy crisis. LevelTen’s quarterly report suggests that current stable market conditions present an opportunity for buyers to secure favourable deals. The variety of offtake opportunities for potential PPA…

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Bidding process underway for ISTS schemes to power green hydrogen

India, News

The National Committee on Transmission (NCT) has approved three Interstate Transmission System (ISTS) schemes to support upcoming green hydrogen and ammonia manufacturing units in Gujarat (Kandla and Mundra) and Tamil Nadu (Tuticorin). These schemes, with an estimated total outlay of Rs 82 billion, are now open for bids, with technical bids expected to open by December 2024. Gujarat Schemes: Kandla Scheme: This project, designed to meet a projected demand of 1,690 MW by FY28 from…

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AMPIN Energy Transition achieves financing for RE project in Rajasthan

India, News

AMPIN Energy Transition has achieved financial closure for its 200 MW solar-wind hybrid project in Rajasthan, securing green financing of Rs 7.42 billion from Standard Chartered. The total investment in the project is valued at Rs 9.44 billion. Upon completion, the plant is expected to generate approximately 435 million units of renewable energy annually, supplying power to around 74,486 households. Standard Chartered, committed to expanding its sustainable finance efforts, aims to mobilize USD 300 billion…

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VNG AG partners to explore green hydrogen production in Algeria

Global, News

VNG AG has signed a letter of intent with Algerian energy firms Sonatrach and Sonelgaz, along with SNAM, SeaCorridor, and VERBUND, to jointly assess the feasibility of large-scale green hydrogen production in Algeria. The project aims to export green hydrogen from North Africa via the proposed “South H2 Corridor” to Italy, Austria, and Germany. The agreement sets the framework for future cooperation, including the preparation of essential studies to evaluate the technical and economic viability…

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KPI Green signs PPAs with GUVNL for renewable energy projects

India, News

KPI Green Energy has signed power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) for 620 MWAC (917 MWDC) renewable energy projects.  The agreement includes a 250 MWAC (275 MWDC) grid-connected solar photovoltaic project, won through a competitive bidding process under Phase-XXIV, aimed at procuring power from 500 MW grid-connected solar projects across India, with an additional greenshoe option for up to 500 MW. Additionally, KPI Green secured a 370 MWAC (642 MWDC) grid-connected…