Power Sector News Roundup for November 26, 2024

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Global: Masdar and Silk Road Fund to co-invest $2.8bn in renewable energy projects BayWa r.e. sells 517 MW US solar portfolio in largest transaction to date RWE acquires majority stake in R3 Renewables Equinor cuts 20% of renewables workforce amid offshore wind challenges Azerbaijan awards first 100 MW solar project to Universal International Arab Group opposes fossil fuel phase-out at COP29 climate summit Indonesia to retire coal-fired power plants by 2040 National Grid Renewables secures…

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India to drive global energy demand by 2035, says IEA

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India is set to become the global engine for energy demand growth through 2035, according to the International Energy Agency’s (IEA) World Energy Outlook 2024.  The report highlights India’s rapid expansion, with the country adding more than 12,000 cars daily, increasing built space equivalent to South Africa, and seeing its air-conditioners consume more electricity than Mexico’s total power consumption by 2035. As the world’s third-largest oil consumer, India will increase oil demand by nearly 2…

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Power sector installed capacity overview for August 2024

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As of August 2024, India’s total installed capacity reached 4,50,759.56 MW, covering coal, lignite, gas, hydro, nuclear, and renewable energy sources. The total installed capacity from renewable energy sources was 1,52,654.48 MW. In the State Sector, the installed capacity totalled 1,08,276.94 MW. Of this, 69,977.50 MW was from coal, while 27,254.45 MW came from hydro. Renewable energy contributed 2,602.62 MW to the state sector’s total capacity. In the Private Sector, the total installed capacity stood…