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EU grants €36 million to thyssenkrupp nucera for green hydrogen project
The European Union has allocated up to €36 million to thyssenkrupp nucera’s advanced Solid Oxide Electrolyzer Cell (SOEC) project, supporting the construction of a 300 MW green hydrogen production plant. Utilizing SOEC technology licensed by Fraunhofer IKTS, the project leverages high-temperature electrolysis to produce green hydrogen and synthesis gas with enhanced efficiency and cost advantages for various industrial applications. This funding aligns with the EU’s climate objectives to promote energy efficiency, renewable energy, and technological…
Powergrid InvIT announces H1 FY2024-25 results
Power Grid Corporation of India Limited (POWERGRID) has released the half-yearly report for its Infrastructure Investment Trust, POWERGRID Infrastructure Investment Trust (PGInvIT). PGInvIT recorded a consolidated income of Rs 6,557.15 million for H1 FY2024-25, reflecting strong revenue generation. Net distributable cash flows reached Rs 5,228.20 million, with total distributions of Rs 5,460 million to unitholders. The Trust also reported EBITDA of Rs 6,125.07 million and a margin of 93.41%. PGInvIT manages five transmission assets in…
Drax Power to pay £25 million for misreporting biomass data, Ofgem announces
UK energy regulator Ofgem has announced that renewable energy generator Drax Power will pay £25 million for misreporting data regarding imported biomass from Canada. In May 2023, Ofgem launched an investigation into whether Drax had breached annual profiling reporting requirements under the Renewables Obligations (RO) scheme. Ofgem concluded that Drax lacked adequate data governance controls for the biomass imported from Canada between April 1, 2021, and March 31, 2022. However, there was no evidence that…
MNRE sets new terms for rooftop solar CFA under PM Surya Ghar Yojana
The Ministry of New and Renewable Energy (MNRE) has issued specific guidelines for real estate developers and promoters to access Central Financial Assistance (CFA) under the PM Surya Ghar: Muft Bijli Yojana (PMSGY). The initiative aims to promote widespread adoption of rooftop solar installations in residential housing complexes. According to the new terms, developers must provide an undertaking that the rooftop solar assets supported under the PMSGY will be handed over to the respective group…
India’s power sector warned of potential overinvestment risks amidst capacity expansion plans
As India aims to double its power capacity to 900 GW by 2030, a report by Aequitas Investments highlights concerns about potential overinvestment, cautioning against repeating past industry missteps. The report points to aggressive bidding without firm power purchase agreements (PPAs) and a reliance on costly imported coal, warning that these practices could lead to financial instability reminiscent of the 2008 sector downturn. The analysis reveals that private sector expansions since FY 2010 have faced…
EESL, RajCOMP ink pact to promote energy efficiency in Rajasthan
Energy Efficiency Services Ltd (EESL) has signed an agreement with RajCOMP Info Services Ltd (RISL) to promote energy efficiency and enhance public service delivery in Rajasthan. Under this partnership, EESL will offer UJALA products and services through RISL’s e-Mitra portal. This collaboration leverages the extensive e-Mitra network to promote energy-efficient solutions across the state. EESL, under the Ministry of Power (MoP), and RISL, under the Department of Information Technology & Communications (DOIT&C), will facilitate the…