Key Power Sector News Roundup for September 21, 2024

Power Bytes

NTPC Signs MoU for 25 GW Renewable Energy in RajasthanNTPC and Rajasthan’s state power utility have formed a joint venture to develop 25 GW of renewable energy projects, with a focus on green hydrogen production. This initiative will significantly boost India’s clean energy capacity. Amazon and Partners Expand EV Charging NetworkAmazon and its partners are rolling out electric vehicle charging infrastructure in Bengaluru, targeting 9,500 EVs by 2030. The charging stations will be powered by…

Key Power Sector News Roundup for September 20, 2024

Power Bytes

Tata Group and Analog Devices Collaborate on SemiconductorsTata Group and Analog Devices have partnered to explore semiconductor manufacturing in India, focusing on applications for electric vehicles and network infrastructure.  uctor supply chain. Sunsure Energy Secures Rs 100 Billion REC FinancingSunsure Energy has secured Rs 100 billion in financing from REC to support 3 GW of solar, wind, and energy storage projects, aiming to offset 5 million tonnes of CO2 annually and aid India’s green energy…

Why Electrification is More Efficient Than Hydrogen for Renewable Energy Emissions Reductions?

Power 101

As the global energy transition accelerates, a pressing question has emerged: how should renewable electricity be allocated to best reduce carbon emissions? The choice between using renewable electricity for hydrogen production or direct electrification has significant implications.  According to the International Energy Agency (IEA), using 1 terawatt-hour (TWh) of renewable electricity to electrify certain sectors can reduce emissions more than using the same electricity to produce hydrogen. For instance, using renewable electricity to displace coal…

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Tata, MG offer free charging, battery rentals to lure EV buyers

India, News

India’s leading electric vehicle (EV) manufacturer, Tata Motors, is offering free charging and discounts to attract consumers, while rival MG Motor has launched a pioneering battery rental plan. These efforts aim to address slowing sales growth in the EV market, which currently accounts for 2% of India’s 4.2 million annual car sales. Sales growth has stalled, with analysts pointing to high vehicle prices and insufficient charging infrastructure as key barriers. To combat this, MG Motor…

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Global demand for critical minerals for renewables to triple by 2030: UN

Global, News

Global demand for minerals crucial to renewable energy technologies is projected to nearly triple by 2030, according to a United Nations report. The UN Secretary-General’s expert panel on critical energy transition minerals has outlined recommendations for governments, industries, and stakeholders to ensure the energy transition is fair, sustainable, and equitable. UN Secretary-General António Guterres highlighted the need for justice and equity in the renewables revolution, with the panel’s recommendations set to be shared ahead of…

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Servotech wins contract to install 11 DC EV charging stations in Karnataka

India, News

Servotech Power Systems has won a contract to install 11 DC fast EV charging stations from Bangalore Electricity Supply Company (BESCOM). The stations will be set up at Regional Transport Office (RTO) locations across Karnataka, enhancing the state’s electric vehicle (EV) charging infrastructure. Servotech will oversee the project from design to installation, ensuring optimal placement and capacity at each RTO site. The charging stations will meet strict safety and performance standards, and the company will…

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Honda Power partners with Bhago Mobility for green fleet

India, News

Honda Power Pack Energy, a subsidiary of Honda Power Company, has partnered with Bhago Mobility to offer green fleet management services for electric vehicles in last-mile delivery. The collaboration will deploy Honda e: Swap-powered electric vehicles in Bangalore and Delhi, benefiting e-commerce fleets and passenger mobility. Bhago Mobility plans to launch 100 electric cargo vehicles in the coming months of 2024, to expand to 10,000 vehicles within three years. These vehicles will be stationed at…

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India’s auto component sector targets USD 100 billion in exports by 2030: Piyush Goyal

India, News

Union Minister Piyush Goyal expressed confidence that India’s auto component sector will hit its $100 billion export target by 2030. At the 64th Annual ACMA Session in New Delhi, he urged the industry to focus on organic growth, global outreach, and technological advancements, leveraging India’s status as the third-largest auto market. He emphasized the need for strong R&D and encouraged using the Rs 1 trillion Anusandhan National Research Foundation (ANRF) fund for public-private-academic partnerships. Goyal…

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Epic Energy announces JV for EV charger manufacturing in Coimbatore

India, News

Epic Energy (EPIC) has announced a joint venture with Fenfeo Automotive to set up an electric vehicle (EV) charger manufacturing facility in Coimbatore, Tamil Nadu. The plant will initially produce 15,000 chargers annually, with plans for expansion based on market demand. EPIC will hold a 76% stake in the JV, while Fenfeo will own 24%. The project requires an estimated investment of Rs 50 million, with an expected annual gross revenue of Rs 150 million…

India’s EV Market: From Subsidies to Market-Driven Growth

Analysis

Union Minister Nitin Gadkari recently stated that the electric vehicle (EV) industry has matured to a point where government subsidies are no longer necessary to support manufacturers. Consumers are now choosing EVs or CNG vehicles on their own, potentially causing a shift in India’s mobility industry.  Gadkari highlighted that the cost of manufacturing EVs has dropped over the years, further making subsidies unnecessary. A study by Lawrence Berkeley National Laboratory found that the cost of…