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International Renewable Energy Agency will help India's efforts to advance “cost-effective decarbonisation” through the development of domestic green hydrogen. India is looking to further accelerate its energy transition by signalling its intent to further collaborate with the International Renewable Energy Agency (Irena), including in the area of green hydrogen. Irena confirmed over the weekend that India’s Ministry of New and Renewable Energy (MNRE) signed a strategic partnership agreement to strengthen its collaboration with the international agency in the field of renewable energy.
The company will invest Rs 5 trillion over a span of 10 to 15 years to set up a 100 gigawatts renewable energy power plant.
January 11 (Renewables Now) - US oil group Exxon Mobil Corp (NYSE:XOM) said on Tuesday it has entered into an agreement to acquire a 49.9% stake in Norwegian biofuels company Biojet AS for an undisclosed sum. Biojet intends to develop up to five facilities for the production of biofuels and biofuel components through the conversion of forestry and wood-based construction waste. It expects to begin commercial production in 2025 at a new site in Follum. The stake purchase agreement comes with a contract allowing ExxonMobil to buy up to 3 million barrels of the products per year. Biojet’s biofuels can be used for passenger vehicles and heavy trucks, the announcement mentions.
Pondicherry University saves more than Rs one crore per annum on electricity bills after the commissioning of solar power plants with a total capacity of 2.4MW at a cost of Rs 13 crore.
Democrats want oil prices to be higher because they think it will make their energy alternatives more viable, Steve Forbes said on Sunday. Speaking on "The Cats Roundtable" radio show on WABC 770 AM hosted by John Catsimatidis, the economist, publisher and former presidential candidate said that the Biden Administration does not take actions to significantly lower oil prices, as "they secretly want high oil and gas prices… because they think that will make their energy alternatives — so-called renewables — i.e. wind power… and solar — more viable." He lamented that these higher energy prices mean "a higher cost and a lower standard of living" for the American people.
"Indore-based green consultancy EKI Energy Services will float a joint venture with oil major Royal Dutch Shell that will invest $1.6 billion over a five-year period to provide ""nature-based solutions"" to industries in India, people familiar with the matter said. The joint venture will target production of 115 million carbon credits in five years, as part of Shell's plan to expand in India's renewables space, these people told ET."
In our series of articles on Power Scotland and the move to renewable energy we have targeted coal as the number one enemy for global warming. Scotland no longer generates electricity from coal. The two largest and the last to go were Cockenzie in 2013 and Longannet in 2016. England still has 4 coal-fired power stations due to be phased out by 2025. England also depends on former coal-fired plants now burning wood pellets that are now no longer recognised as renewable.
The White House is backing a plan by House of Representatives Democrats to let renewable energy firms form tax-advantaged partnerships that the oil and gas industry has used for decades to build out the U.S. pipeline and storage infrastructure, according to three people familiar with the matter.
Billionaire businessman Gautam Adani on Tuesday announced that his conglomerate will be investing $20 billion during the course of the next 10 years in the renewable energy segment and will also produce the world's cheapest green electron. Mr Adani, who was addressing an investor summit, said that the investment will be made in renewable energy generation, component manufacturing as well as transmission and distribution. The Adani Group has been active in the renewable sector segment for many years now and interestingly the announcement about investing such a quantum of money in the sector has come just weeks after Reliance Industries Limited chairman Mukesh Ambani had said in June that he would be investing ₹ 75,000 crore over the next three years in clean energy and hydrogen fuel.
Soaring wholesale gas prices have left the UK in an energy crisis, with fears for vulnerable households as bills rise and a wave of energy firms folding. In the 1990s, the UK made a “dash for gas”. In recent years, it has leaned on the fuel to ease the phase out of an even more polluting fossil fuel, coal. That makes the UK heavily reliant on gas for energy, with 86 per cent of homes using it for heating and more than a third of electricity supplies coming from gas power plants. The main reason for the current crisis is a shortage of gas supplies, due in part to outages in production in Norway and elsewhere, and demand from Asia. It is also, to a much lesser degree, due to low output from wind power and a fire last week leaving a UK-France power link offline. Prices and carbon emissions are up, with ageing coal and mothballed gas power stations firing up again. Wholesale gas prices are up 176 per cent since the start of the year, and power prices in the past month are up 266 per cent on the average this year.
African Energy Week (AEW) 2021 in Cape Town is committed to providing a real conversation on the issues facing African people and African businesses, offering attainable solutions through which the oil and gas industry can help drive. With global stakeholders pledging net-zero emissions by 2050, and the move to renewable energy holding significant financial challenges for African countries, the role of the oil and gas industry has been brought to light, with the idea of an African carbon market both deliberated and debated among key industry leaders and global stakeholders. With a panel discussion taking place at the Ninth Conference on Climate Change and Development in Africa (CCDA-IX) under the theme, ‘Can carbon markets work for Africa?’ key insights were provided into whether or not a carbon market could work in Africa, with speakers introducing current national strategies to address carbon emissions.
In a boost to investment in Maharashtra during the pandemic, the state government’s Industry Department on Tuesday signed two MoUs under the Magnetic Maharashtra 2.0 initiative with JSW, worth Rs 35,500 crore in the renewable energy sector. As per the MoUs, the company plans to invest Rs 35,500 crore in the state by setting up a hydro-based power project of 1,500 MW power generation in villages like Jammde, Kalbhonde and Kothale near Igatpuri in Nashik district, and wind power projects of 5,000 MW power generation across 1,870 hectares in Kolhapur, Solapur, Satara and Osmanabad. The project, which will take 18 months to start, will supply cheap and green renewable power round-the-clock and help Maharashtra decrease its reliance on non-renewable energy.
Saudi Arabia is on a tight deadline. The kingdom has set itself some of the most ambitious economic and social targets in the region, with an aim to revamp its economy completely. Underpinning this drive for change is its youth population, now better equipped than ever to contribute productively. Not only does the kingdom want to retain its place as the largest economy in the Middle-east, but do much better than that, to ensure it becomes a magnet for non-oil sectors worldwide. At an average age of just 32, Saudi Arabia has a strong cohort of the young, that has acquired quality qualifications in the recent past, thanks to high investments in building up education and health infrastructure.
One of the world’s largest mining and steel manufacturing companies — ArcelorMittal — has announced grand plans to develop renewable energy assets in India. According to media reports, ArcelorMittal has expressed interest in developing renewable energy projects in the Indian states of Rajasthan and Gujarat. The company is believed to have proposed a 4.5-gigawatt solar park in Rajasthan with an estimated investment value of $2.6 billion. The news reports, however, did not mention the timeline for development of this project. In the recent past, Rajasthan has attracted investment in solar power park development from many private companies in India. These include Adani and IL&FS. These ventures have been highly successful with associated project auctions yielding some of the lowest tariff bids in India.
Union Power and New & Renewable Energy Minister R K Singh on Thursday met his Danish counterpart Dan Jrgensen where both agreed on further engagement in renewable energy, especially offshore wind and green hydrogen. "Union Minister for Power and New and Renewable Energy R K Singh met with Dan Jrgensen, Danish Minister for Climate, Energy and Utilities, here today (Thursday)," the Ministry of New and Renewable Energy said in a statement.
NTPC Ltd, India’s largest power generator, plans to partner with National Investment and Infrastructure Fund (NIIF), the country’s quasi-sovereign wealth fund, and Oil and Natural Gas Corporation (ONGC) to acquire and develop green energy assets, including offshore wind projects. The plans were contained in a letter to shareholders by NTPC chairman and managing director Gurdeep Singh in the company’s annual report for FY21. “Further, efforts are on for partnering with NIIF and ONGC for exploring opportunities in acquisitions and development of renewable assets, including offshore wind," Singh said in his letter.
In a letter to managing director of the National Transmission & Despatch Company (NTDC), managing director of the Private Power & Infrastructure Board (PPIB) and chief executive officer of the Alternative Energy Development Board (ARDB), the regulator recalled that last year it had asked for inclusion of “hydropower in the scope and definition of renewable energy in various energy policies, rules and regulations”. “Furthermore, it was desired to make necessary amendments in all relevant documents and include hydropower in the scope of upcoming ARE (Alternate and Renewable Energy) Policy 2019,” said the letter. It said Nepra Chairman Tauseef H. Farooqi raised the issue at various forums and, therefore, a report on the latest status regarding regulator’s advisory issued in June 2020 be submitted at the earliest.
With the UK announcing a $1.2 billion package of public and private investment in green projects and renewable energy in India to tackle climate change. The climate advocates said that the partnership is a trendsetter for countries that how the public and private sectors can work together to speed the clean energy transition. This global partnership will boost private finance to support India's ambitious commitment to deploy 450 GW of renewable energy by 2030.