Power Sector News Roundup for November 4, 2024

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Global: IEA report forecasts US$2 trillion clean energy market growth, challenging oil industry dominance. Germany to bury nuclear waste, but toxic dispute remains unresolved. UK Government confirms rise in oil and gas headline tax alongside investment in clean energy. Asia to spend over USD 20 billion on EVs, according to a report. Moroccan government partners with Total Energies H2 for the ‘Chbika’ green hydrogen project. Blykalla and ABB partner to develop an SMR pilot facility…

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Top EU economies spend 42 billion euros annually on fossil-fuel company car subsidies, study finds

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The EU‘s five largest economies—Italy, Germany, France, Poland, and the United Kingdom—spend a combined 42 billion euros (USD 45.6 billion) annually subsidizing fossil-fuel company cars, according to a study by consultancy Environmental Resources Management (ERM), commissioned by environmental group Transport & Environment (T&E). The report urges the EU to redirect these subsidies towards electric vehicles (EVs) instead. Italy leads with 16 billion euros in subsidies, followed by Germany with 13.7 billion euros. France and Poland…

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India’s renewable energy capacity to grow at double the rate of overall energy capacity by 2030: CRISIL

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According to a report by CRISIL, India’s renewable energy (RE) capacity, excluding large hydro projects, is expected to grow at a compound annual growth rate (CAGR) of 16.5%-17%, reaching 360-370 GW by fiscal 2030.  This growth rate is double that of the country’s overall power capacity, which is projected to grow by 7.5%-8%, increasing from 442 GW in March 2024. India’s renewable energy capacity, including large hydro projects, stood at nearly 191 GW as of…

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Servotech partners with Ensmart Power to expand EV charger business in UK

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Servotech Power Systems has announced a collaboration with UK-based Ensmart Power to expand its electric vehicle (EV) charger business in the UK and North America.  The partnership aims to leverage Servotech’s innovative EV charging solutions and Ensmart Power’s expertise in energy storage and distribution to develop a reliable and accessible EV charging infrastructure in these regions. The companies have signed a sole distribution agreement to enhance the distribution of EV chargers, focusing on supporting green…

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Himachal Pradesh unveils plan for 100% electric public transport by 2025

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Himachal Pradesh is set to fully electrify its public transport system, with Chief Minister Sukhvinder Sukhu announcing a plan to convert the Himachal Road Transport Corporation (HRTC) fleet to 100% electric by March 2025.  The transition to electric vehicles aims to reduce the environmental impact and improve HRTC’s financial performance, positioning it as a key player in sustainable transport across Himachal Pradesh’s challenging terrain.

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MNRE launches ‘Innovative Projects’ scheme under PM-Surya Ghar

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The Ministry of New and Renewable Energy (MNRE) has introduced Scheme Guidelines for ‘Innovative Projects’ under the PM-Surya Ghar: Muft Bijli Yojana, as notified on October 8, 2024. This initiative aims to foster advancements in rooftop solar technologies, business models, and integration techniques with a budget of Rs 50 billion. The scheme will support startups, institutions, and industries in piloting new concepts such as blockchain-based peer-to-peer solar trading, smart materials, and solar integration with electric…

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MoP issues guidelines for battery swapping and charging stations

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The Ministry of Power (MoP) has released guidelines for the installation and operation of battery swapping and charging stations. These guidelines apply to swappable battery providers and operators of battery charging and swapping stations. The primary objectives are to promote battery swapping as an alternative to electric vehicle (EV) charging, encourage battery-as-a-service models, and develop a strong battery-swapping ecosystem. Operators can use existing electricity connections for charging swappable batteries, with or without increasing the connected…

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Tamil Nadu Cabinet approves 14 projects with Rs 386.98 billion investment

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The Tamil Nadu Cabinet has approved 14 new projects with a total investment commitment of Rs 386.98 billion, expected to generate 46,931 high-end employment opportunities across 12 districts. These projects span sectors including auto and electric vehicles, electronics, green energy, telecom equipment, and advanced manufacturing. Key investments include Freetrend Industrial India’s Rs 10 billion footwear manufacturing plant in Ariyalur, creating 14,000 jobs, and Leap Green Energy’s Rs 103.75 billion investment in a hydrogen power storage…

8. Policy and Regulation: Shaping the Future of the Energy Sector

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Imagine the energy sector as a vast highway system. Energy policies are the road signs, traffic lights, and speed limits that keep everything flowing smoothly. They guide investments, ensure fair competition, protect consumers, and set the standards for environmental responsibility. Without these rules, the system could fall into chaos, with inefficient power plants, unreliable electricity supply, and unchecked environmental damage. For example, renewable energy growth is heavily influenced by supportive government policies. Countries that offer…

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4. Energy Storage: Powering the Future of Balance

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Imagine a world where energy is always available when needed, regardless of the time of day or the whims of nature. Energy storage is a big part of making that dream a reality. But what exactly is energy storage, and why is it so crucial? Let’s break it down. Types of Energy Storage When we talk about energy storage, it is easy to think of batteries first, but there is so much more going on….