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World likely to miss UN target to triple renewable capacity by 2030: IEA

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The world is expected to fall short of the UN’s target to triple renewable energy capacity by 2030, despite many countries surpassing their national targets, according to the International Energy Agency’s (IEA) latest report, Renewables 2024. The report forecasts the deployment of over 5.5 TW of renewable energy by 2030, a threefold increase compared to 2017-2023, equivalent to the combined current power capacity of China, India, the US, and the EU. Around 70 countries, representing…

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Fossil fuel dominance in electricity to end by 2030, renewables to take lead: RBI

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The Reserve Bank of India (RBI) projects that fossil fuels’ dominance in electricity generation will end by the end of this decade, with renewable energy expected to account for over 50% of global electricity generation. In its latest report, the central bank highlights an accelerated shift toward clean energy, driven by unprecedented capital investment and the rapid deployment of clean technologies. The RBI report emphasizes that cleaner power generation could enable substantial emissions cuts, buying…

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India’s power sector to see Rs 40 trillion investment by 2035

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India’s power sector is projected to receive over Rs 40 trillion in investments in the next decade, according to a report by Motilal Oswal. Of this, around Rs 34 trillion will be directed towards capital expenditure in areas like power generation, transmission, and smart metering, which will account for 86%, 10%, and 4% of the total, respectively. This investment surge is fueled by rising power demand, driven by India’s growing GDP, technological advancements, and a…

Understanding the Global Institutional Infrastructure of Energy

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The global energy sector is a complex web of organisations, regulators, and private corporations working together to ensure that the world’s energy needs are met while promoting sustainability, innovation, and policy alignment. From setting regulations to facilitating international cooperation, these institutions play an essential role in shaping how energy is produced, distributed, and consumed. This article will explore the key players in the global energy infrastructure, including international organizations, national regulatory bodies, industry associations, and…

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Grenergy to acquire 1GW solar portfolio in Chile for $128m

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Spain-based Grenergy Renovables plans to acquire a 1GW solar portfolio in Chile for $128 million from Repsol and Grupo Ibereolica Renovables. The deal includes a 77MW photovoltaic (PV) plant, 923MW of projects under development, and a 1GW operational interconnection facility. This acquisition will bolster the Oasis de Atacama solar-plus-storage project by adding two new phases, expanding it to a five-phase development across Chile’s Tarapaca, Antofagasta, and Atacama regions. The project’s battery storage capacity will increase…

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OECD net electricity production rises 5.4% in June 2024

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According to the latest release from the International Energy Agency (IEA), total net electricity production in the Organisation for Economic Co-operation and Development (OECD) countries reached 902.8 TWh in June 2024, reflecting a 5.4% year-on-year (y-o-y) increase. On a year-to-date basis, electricity production in the first two quarters of 2024 rose by 2.9%. The OECD consists of 38 member countries, including major economies such as the United States, Japan, Germany, and Australia, working to promote…

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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…