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Hero Future to invest USD 20 billion, targeting 30 GW capacity by 2030

India, News

Hero Group’s power unit, Hero Future Energies, plans to invest USD 20 billion over the next six years to expand its capacity nearly 16-fold. The investment will focus on wind, solar, and battery storage technologies, funded through a mix of internal resources, debt, and equity. With 3.4 GW of capacity under construction, set to be completed within two years, Hero Future Energies aims to increase its current 1.9 GW capacity to 30 GW by 2030….

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Renewable energy developers commit massive capacity investments at RE-Invest 2024

India, News

At the RE-Invest event in Gandhinagar, Gujarat, several renewable energy developers have made significant capacity creation commitments as part of their “Shapath Patra” agreements with the government. Reliance Industries (RIL) has pledged to set up 100,000 MW of additional renewable capacity by 2030, alongside manufacturing 20,000 MW per year of integrated solar PV and equivalent glass capacity. Other major commitments include: NTPC Ltd: 41,300 MW ReNew: 40,000 MW Adani Green Energy: 38,300 MW Hero Future…

How Himachal Pradesh reduced its electricity procurement cost?

Power 101

Himachal Pradesh has long been recognized for its abundant natural resources, particularly its potential for hydroelectric power generation. Despite this, the state faced challenges related to high electricity procurement costs. However, in recent years, Himachal Pradesh has reduced its electricity procurement cost from over Rs 9 per unit to approximately Rs 5.25 per unit. This significant reduction is a result of strategic decisions, policy reforms, and effective resource management. Here’s an in-depth look at how…

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Akaysha Energy completes first stage of WSB project in NSW

Global, News

Akaysha Energy has completed the first stage of energisation at the Waratah Substation Battery (WSB) project in New South Wales (NSW), marking its registration on Australia’s National Electricity Market (NEM). The 850MW/1.68GWh Battery Energy Storage System (BESS) is set to be the largest standby network battery in the southern hemisphere and the world’s most powerful battery. Developed in partnership with EnergyCo, Transgrid, Powin, and eks Energy, the WSB project will act as a “shock absorber”…

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NamPower partners with Chinese firms to build Namibia’s largest solar plant

Global, News

Namibia’s state-owned utility NamPower has partnered with Chinese companies to begin construction of the country’s largest solar power plant, set to add 100 MW to Namibia’s total installed capacity of 500 MW. The N$1.4 billion ($78.3 million) project will reduce the nation’s reliance on electricity imports from Zambia and South Africa. Financed by an 80% loan from German development bank KfW, with NamPower covering the remaining 20%, the project is expected to be operational by…

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Orano selects Oak Ridge for uranium enrichment plant

Global, News

Orano, a state-owned uranium producer, has announced Oak Ridge, Tennessee, as the preferred site for its new multibillion-dollar uranium enrichment facility in the US. The facility is expected to bolster the country’s domestic nuclear fuel supply, a critical move following recent legislation banning the import of Russian low-enriched uranium. Tennessee’s Nuclear Energy Fund, with $60 million available, will support the project, though the total cost of the facility has not been disclosed. The plant, expected…

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Romania, Hungary, Georgia and Azerbaijan launch Black Sea power line

Global, News

Romania, Hungary, Georgia, and Azerbaijan have officially launched the Black Sea power line project aimed at enhancing the European Union’s renewable energy capacity. The project, developed in response to the EU’s need for energy diversification following Russia’s invasion of Ukraine, is expected to strengthen the region’s energy security. The initiative involves constructing an undersea cable that will connect wind farms in Azerbaijan’s Caspian Sea to Romania and Hungary via Georgia, supplying renewable energy to the…

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Centre set to expand ALMM to solar cells, decision expected soon

India, News

The Indian government is expected to make a decision soon on imposing non-tariff barriers on solar cell imports by including them in the Approved List of Models and Manufacturers (ALMM), a move aimed at curbing Chinese imports and boosting domestic production. Union Minister for New and Renewable Energy, Pralhad Joshi, confirmed that the proposal is under active consideration, with a decision to be made shortly. The ALMM is a government-endorsed list of solar module models…

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India’s tunnelling projects surge: 69 tunnels under construction at Rs 400 billion investment

India, News

India is ramping up its tunnelling infrastructure with 69 tunnels covering 134 km currently under construction, backed by a Rs 400 billion investment, as announced by Union Minister for Road Transport and Highways, Nitin Gadkari, at FICCI’s Tunnelling India conference. Additionally, 35 tunnels totalling 49 km have been completed, with Rs 150 billion spent. The government plans to build 74 more tunnels spanning 273 km, with a projected investment of Rs 1,000 billion. Gadkari stressed…

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Ørsted to shut down final coal-fired plant in Denmark

Global, News

Ørsted has announced the closure of its last coal-fired heat and power plant in Esbjerg, Denmark, on August 31, 2024. This marks a major step towards making Ørsted’s energy generation nearly fossil fuel-free. Once known as one of Europe’s most coal-intensive energy companies, Ørsted has drastically reduced its reliance on coal, achieving a 92% reduction in scope 1 and 2 emissions from 2006 to 2023. The shutdown of the Esbjerg plant, along with the previously…