A government panel of experts has largely supported Japan’s new energy policy, which aims to meet growing power demands by expanding renewables to 40-50% of electricity needs and increasing nuclear power’s share to 20% by 2040. The proposal, which is set for Cabinet approval by March, calls for reversing the phaseout of nuclear energy adopted…
Emirates Water and Electricity Company (EWEC) has received approval to develop four new renewable energy sites in Abu Dhabi, UAE. The sites, covering around 75 km², will accommodate solar photovoltaic (PV) and wind energy projects. The developments include three solar PV plants in Al Faya, Al Khazna, and Al Zarraf, and a wind farm in…
Oil India Limited (OIL) has announced the establishment of a wholly-owned subsidiary, OIL Green Energy, to manage its green and alternative energy ventures. The company plans to invest Rs 250 billion by 2040 to diversify into renewable energy and decarbonisation technologies. The subsidiary will oversee initiatives in biofuels, green hydrogen, renewable energy, carbon capture utilization…
UltraTech Cement has announced plans to source renewable energy through a captive arrangement with CleanMax’s special-purpose vehicle (SPV), Clean Max Sapphire. The company has acquired a 26% equity share in the SPV for Rs 457.6 million, entering agreements for energy supply, share subscription, and shareholder rights. The SPV will develop a 55 MW wind-solar hybrid…
Chhattisgarh has secured investment proposals worth Rs 151.84 billion from top companies in sectors like semiconductors, electric vehicles (EV), and renewable energy. The highest proposal of Rs 115 billion comes from Renew Power Limited for pump storage and green hydrogen projects. Other notable investments include Rs 16.5 billion from TWI Group for EV kit manufacturing,…
Refex Industries Limited has established a wholly owned subsidiary, Venwind Refex Power Limited, with a subscribed capital of Rs 10 million comprising 100,000 fully paid equity shares at a face value of Rs 10 each. The subsidiary will focus on trading, manufacturing, production, assembly, distribution, and marketing of sustainable energy assets and their components. It…
ReNew Energy Global has entered into an agreement to sell its entire stake in ReNew Sun Waves Pvt Ltd (RSWPL) to Anzen India Energy Yield Plus Trust for $176 million. RSWPL operates a 300 MW solar asset in Jaisalmer, Rajasthan. The deal will close after fulfilling contractual obligations, conditions precedent, and lender approvals. The enterprise…
Union Minister of Power Shri Manohar Lal reviewed Kerala’s power sector at a meeting in Thiruvananthapuram. Shri Suresh Gopi, Minister of State for MoPNG & Tourism, and Shri K Krishnankutty, Kerala’s Minister for Electricity, attended with officials from the State Government, GoI, and Power Finance Corporation (PFC). Key topics included power demand, supply, capacity additions…
Maharashtra Chief Minister Devendra Fadnavis reaffirmed his government’s commitment to continue providing free electricity to farmers and promote solar energy adoption in the agricultural sector. In the 2024 Assembly elections, the BJP had promised that farmers in the state would maintain access to free electricity. Farmers using agricultural pumps up to 7.5 horsepower are eligible…
Lending to renewable energy (RE) projects in India surged by 63% in 2023, reaching Rs 302.55 billion, compared to the previous year, according to a report by the Centre for Financial Accountability. Solar energy accounted for 49% of the funding, with Rs 148.14 billion directed toward solar projects. Hybrid projects saw a 31% year-on-year increase,…