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GUVNL announces green financing fund for renewable energy projects

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Gujarat Urja Vikas Nigam Ltd (GUVNL) has launched a green financing fund in partnership with sovereign wealth funds, green funds, and multilateral agencies, as announced at the 4th Global Renewable Energy Investors Meet and Expo (RE-INVEST). The fund will provide direct financial resources to developers winning GUVNL’s renewable energy bids. This initiative follows a roundtable on ‘Climate Finance Opportunities for Gujarat,’ chaired by Kanubhai Desai, Gujarat’s Minister of Finance, Energy, and Petrochemicals, who emphasized the…

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Noida Airport partners with Statiq for EV charging infrastructure

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Noida International Airport (NIA), set to begin operations in April 2025, has entered a partnership with Statiq to establish electric vehicle (EV) charging infrastructure on the airside. Under the collaboration, Statiq will install, operate, and maintain EV charging stations to support the airport’s sustainability goals and reduce emissions. The charging network will cater to concessionaires and airport vehicles, facilitating the deployment of electric ground support equipment (GSE) and other electric vehicles. In the initial phase,…

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Goa cabinet approves Rs 7 billion investment for 500 electric buses

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The Goa government has approved a Rs 7 billion investment proposal by Indian Institute of Technology (IIT) alumni to introduce 500 electric buses into the state’s public transport system, Chief Minister Pramod Sawant announced. The initiative, aimed at reviving Goa’s mass transit, was welcomed by Kadamba Transport Corporation Limited (KTCL) chairman Ulhas Tuenkar, who emphasized its potential to meet growing transport demands and improve KTCL’s services. The new fleet will complement KTCL’s current 500 diesel…

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Jindal India to develop 1 GWh battery storage facility by 2025

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Jindal India Renewable Energy (JIRE) has unveiled plans to develop Battery Energy Storage Systems (BESS), starting with a 1 GWh battery pack assembly line using lithium iron phosphate (LFP) chemistry by 2025. The company, a subsidiary of the BC Jindal Group, aims to expand further into battery cell manufacturing with a 5 GWh capacity by 2027. JIRE’s initiative will enhance its portfolio, contribute to grid stability, and support the integration of renewable energy. The company…

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Torrent Power signs MoU with Gujarat government for 5 GW renewable energy project in Dwarka

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Torrent Power Limited has signed a memorandum of understanding (MoU) with the Government of Gujarat to develop a 5 GW solar, wind, or solar-wind hybrid project in Dwarka, Gujarat. This agreement marks a significant step in advancing renewable energy initiatives in the region.

Key Power Sector News Roundup for September 21, 2024

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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

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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…

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Ageing power grids delay 3,000 GW of renewable energy projects worldwide

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Outdated power grids are slowing the global transition to renewable energy, with 3,000 GW of clean energy projects, many in advanced stages, stuck in grid-connection queues. This figure is five times the total solar and wind capacity added in 2022, according to the International Energy Agency (IEA). While renewable energy investment has nearly doubled since 2010, annual spending on grid upgrades has stagnated at $300 billion. The issue is particularly pressing in developing nations like…

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Natural Hydrogen: A Low-Cost, Low-Carbon Alternative for a Net-Zero Carbon Future

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Most hydrogen used today is produced from fossil fuels, primarily natural gas, through processes like steam methane reforming. These processes are carbon-intensive and release large quantities of CO2, making them unsuitable for a net-zero future. Green hydrogen, produced through electrolysis powered by renewable energy, and blue hydrogen, produced with carbon capture and storage (CCS), are considered clean alternatives. However, these methods are costly, and green hydrogen faces challenges due to the intermittency of renewable energy…

Key Power Sector News Roundup for September 19, 2024

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Union Cabinet Approves Rs 91.97 Billion Bio-RIDE SchemeIndia’s Union Cabinet has greenlit the Bio-RIDE initiative to drive biotechnology and biomanufacturing innovation with a budget of Rs 91.97 billion. The scheme aims to boost India’s bioeconomy, particularly in healthcare, agriculture, and clean energy sectors. Inox Wind Secures 550 MW Wind ProjectInox Wind has won a 550 MW wind project from IGREL Renewables, expanding its order book to over 3.5 GW. The project will be developed across…