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NLCIL produces 12.34 billion units of green power, targets 10,000 MW renewable capacity by 2030

India, News

State-owned NLC India Ltd (NLCIL) has generated 12.34 billion units of green power, preventing the emission of 10 million tonnes of carbon dioxide, according to a statement by the coal ministry. Traditionally a lignite-based power producer, NLCIL is now aiming to achieve 10,000 MW of renewable energy capacity by 2030. NLCIL has already established 1,380 MW of solar power plants and 51 MW of wind power plants. To reach its ambitious renewable energy target, NLCIL…

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REC raises $500 million through green bonds for renewable energy projects

India, News

REC Limited has raised $500 million through green dollar bonds as part of its $10 billion global medium-term programme. This 5-year bond has a coupon rate of 4.75% per annum, with semi-annual payments, and is set to mature on September 27, 2029. It marks the first US dollar bond issuance by an Indian public sector enterprise in 2024. The funds raised under REC’s Green Finance Framework will be allocated to eligible green projects in line…

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Impact of Green Hydrogen Production on India’s Power System

Analysis, Features

Green hydrogen (GH2) is set to play a pivotal role in India’s path toward decarbonization. The country’s goal of producing 5 million tonnes of green hydrogen annually by 2030 is a key part of its strategy to reduce greenhouse gas emissions. This shift will require significant changes in India’s power system, particularly in the integration of renewable energy sources and grid flexibility. Below is a detailed analysis of the necessary adjustments to meet the rising…

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Pupuk Indonesia to procure green hydrogen from PLN and ACWA

Global, News

PT Pupuk Indonesia (Persero) has signed a Head of Key Terms (HoT) agreement with ACWA Power, PLN Energi Primer Indonesia, and PLN Indonesia Power to secure green hydrogen for scaling up its green ammonia production. This collaboration, which began last year, aims to ensure a steady supply of green hydrogen, the key raw material for producing green ammonia, which Pupuk Indonesia will use to manufacture urea and NPK fertilizers. A joint venture between ACWA Power…

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Senvion India wins 210 MW wind turbine order from Continuum Green Energy

India, News

Senvion India has announced that it has secured an order to supply 50 wind turbine generators (WTGs) totalling 210 MW from Continuum Green Energy. The project is slated for deployment in Gujarat or Karnataka, with deliveries beginning in April 2026. The agreement also includes the potential for an additional 50 WTGs. Senvion will supply its advanced 4.2M160 turbines, known for integrating cutting-edge technologies that enhance control, and optimization, and extend turbine life, ultimately reducing operational…

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Ambuja Cements joins Global Decarbonization Alliance, plans Rs 100 billion investment in renewable energy

India, News

Ambuja Cements Limited, a key player in the Adani Group portfolio, has joined the Alliance for Industry Decarbonization (AFID), becoming the first cement manufacturer globally to participate in this initiative. AFID is a global platform that fosters collaboration among industries to accelerate the transition to Net Zero, in alignment with the Paris Agreement. Ambuja’s inclusion in this alliance enables the company to exchange insights and experiences with other energy-intensive sectors. Ambuja Cements, which aims to…

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Accelerating Wind Repowering in Tamil Nadu

Analysis, Features

Tamil Nadu stands as a leader in India’s power sector, ranking third in the nation with a total installed power capacity of 39.7 GW as of March 2024. Of this, renewable energy accounts for 56%, with wind power contributing a substantial 10.7 GW, making Tamil Nadu the second-highest in India for wind energy capacity. Coal and lignite dominate the state’s energy generation, comprising 37% of the installed capacity, while wind energy accounts for 26.7% of…

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Green and Transition Finance in India

Analysis, Features

India stands at a unique crossroads, balancing the goals of decarbonisation and industrial growth. While the power and transport sectors have made notable strides toward decarbonisation, industrial emissions remain a significant challenge. To meet its climate commitments, India will require an estimated capital influx of USD 10.1 trillion by 2070. This is where both green and transition finance come into play, with green finance backing low-emission technologies aligned with the Paris Agreement, and transition finance…

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Unlocking Climate Finance: How Capital Markets Can Drive India’s Green Transition

Analysis, Features

Despite the global acknowledgement of climate change, there has been a significant lag in the financial and technical support promised by developed countries to developing nations. These delays worsen as extreme weather conditions intensify, disproportionately affecting vulnerable developing countries. India, with a population of 1.4 billion and a per capita income of around USD 2,500, is particularly vulnerable. Although India’s per capita emissions remain relatively low at 1.6 metric tons of carbon dioxide equivalent (CO2e),…

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Waaree Energies gets SEBI green signal for IPO

India, News

Waaree Energies Limited, an Indian solar PV module manufacturer, has received final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) to raise Rs 30 billion. The IPO will include a fresh issue of shares with a face value of Rs 10 per equity share, and an offer for sale (OFS) of up to 3.2 million equity shares, as outlined in its draft red herring prospectus filed in…