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India secures $386 bn investment commitments for renewable energy at RE-Invest 2024

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Ministry of Renewable Energy has received investment commitments totalling $386 billion from banks and financial institutions at the RE-Invest conference in Gandhinagar, Gujarat. These investments aim to help India double its clean electricity capacity by 2030, targeting 500 GW of non-fossil capacity. ReNew, a major renewable energy company pledged to expand its renewable capacity from 10 GW to 50 GW by 2030, with 10 GW dedicated to storage. The company also plans to produce 1…

Why is integrating renewable energy into aging grids so challenging?

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As the world moves towards a more sustainable energy future, the integration of renewable energy sources into existing electrical grids has become a critical focus. However, many of these grids are ageing and were originally designed to support a very different energy landscape—one dominated by centralized, fossil-fuel-based power generation. This shift towards decentralized, renewable energy sources presents a myriad of challenges, particularly when integrating them into outdated grid infrastructures. Here’s a closer look at the…

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Share of thermal power in India’s energy mix to decline by FY26 as renewables rise

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The share of thermal power in India’s overall power generation is projected to decline to 67% by the fiscal year 2025-26, down from 73% in FY24, according to Crisil Ratings. While thermal power has met growing electricity demand over the past five years, the upcoming surge in renewable capacity—over 50 gigawatts (GW) by FY26—will outpace thermal power generation growth. This marks the first time incremental RE generation growth, at 20%, will surpass overall power demand…

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Maharashtra signs MoUs for 5,630 MW pump storage hydro power projects

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On 12 August 2024, the Maharashtra government’s Water Resources Department (WRD) signed three memoranda of understanding (MoUs) for pump storage hydro power projects with a combined capacity of 5,630 MW. The projects, estimated to cost Rs 246.31 billion, are expected to create 10,300 jobs. WRD, as the nodal agency, signed MoUs with Mahagenco, Tata Power, and Avaada Group. Avaada Group will develop two pumped storage projects totaling 2,750 MW, including the 1,500 MW Pawana-Falyan project…

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Utilities at the Crossroads: Tackling the Energy Transition with Real-World Solutions

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As the global push towards decarbonization intensifies, the role of utilities in the energy transition becomes increasingly critical. Utilities are at the forefront of efforts to decarbonize electricity supply and electrify energy demand, collectively known as the energy transition. They are tasked with increasing the share of renewable energy in their generation mixes, modernizing networks to integrate these variable power sources, and managing the diverse power needs of industry, households, and transportation. Additionally, utilities must…