CLEAN ELECTRICITY
India's EV plans to get a policy boost as govt may fast-track 3 big-ticket schemes
The Indian government plans to fast-track three major electric vehicle schemes in its first hundred days, including incentives for local battery production and electric bus procurement under FAME 3. Aimed at boosting clean mobility, these initiatives aim to propel India towards net-zero goals amid rising global demand for EVs.
After installing solar plants atop houses, Goa consumers struggle to get govt subsidy
Consumers like Sameer Pawar in Goa face challenges accessing subsidies for rooftop solar plants due to online portal glitches. Despite the government's promotion of green energy, the reality on the ground highlights difficulties in obtaining the promised financial support.
Airtel's Nxtra to become 100 pc renewable energy data centre company
According to the statement, Nxtra has become the only data centre organisation in India to have pledged to RE100 and the 14th Indian company to achieve this milestone.The company claims to have increased its renewable energy use and has contracted 422,000 MWh renewable energy till date.
How financing is turning out to be a bigger roadblock for EVs
Electric vehicle financing presents varying rates across different vehicle types, with banks and NBFCs playing a crucial role in offering competitive options. Understanding the evolving landscape of interest rates and the influence of factors like EV batteries is essential for customers looking to finance their electric vehicles effectively.
Explainer: What's behind Volkswagen's USD 5 billion EV software bet on Rivian?
The tie-up is the latest in a string of deals by Volkswagen Chief Executive Oliver Blume, who took over in September 2022 after the ousting of Herbert Diess. Shifting from combustion engine to electric cars requires expertise in areas where historically Volkswagen has little experience, from charging to batteries to software.
A big boost for a climate solution: electricity made from the heat of the Earth
Southern California Edison and Fervo Energy mark a significant advance with the largest geothermal power development in the US, showcasing the increasing demand for clean electricity and the commitment to zero-carbon energy in California.
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Brookfield targets USD 10 billion investments in renewable sector
Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
Revving up: Fuelled by PLI, Indian automakers eye global EV space, targeting Europe & other developed markets
Indian auto manufacturers are seizing the export opportunity in the electric vehicle (EV) market, driven by increasing demand for cleaner mobility in developed countries and government support. Companies like Maruti Suzuki and Hero MotoCorp are gearing up to export their EV models to Europe, leveraging India's frugal manufacturing capabilities. With India's production-linked incentive scheme and alignment with global standards, automakers aim to challenge Chinese dominance in the EV sector and establish India as an EV export hub.
Electric vehicles: Desi automakers are seizing export opportunities driven by increased demand for cleaner mobility
Domestic auto makers like Maruti Suzuki, Hero MotoCorp, and TVS Motor are seizing the export opportunity in the electric vehicle market. Maruti Suzuki is set to export its first electric SUV to Europe, Hero MotoCorp is launching its VIDA V1 electric scooter in European countries, and TVS Motor is expanding to the European Union with its electric scooter iQube.
Scepticism drives EVs to a disadvantage over ICEs when it comes to financing
India navigates the financing challenges of electric vehicles (EVs) amidst climate change fervor. While electric passenger vehicles (e-PVs) benefit from competitive rates akin to Internal Combustion Engine (ICE) vehicles, e-two-wheelers face higher rates due to brand and credit profile variances. EV financing sees cautious optimism amid evolving battery concerns and nascent resale markets, with recent rate adjustments by banks and non-banking financial companies (NBFCs)
Record $1.8 trillion investment in renewables made in 2023 not enough to meet COP28 goals, says EY report
More than 100 countries at the COP28 climate summit in Dubai last year had agreed to triple renewable energy capacity by 2030 and cut down the use of fossil fuel and emissions, a move seen as vital to avert the worst effects of climate change. The pledge made at COP28 is one of the several energy-related announcements that include new measures and funding to combat methane emissions, agreements to cut coal use and nuclear energy promotion.
India set to see biggest jump in coal-fired power in a decade
India is set to add 15.4 gigawatts of new coal power capacity this year, the most in nearly a decade, to meet rising electricity demand. Despite clean-power goals, coal remains vital due to economic growth and severe heat waves. Challenges in energy storage hinder renewable expansion, with slow progress in alternative technologies.
Why India needs micro EVs ?
The 2nd car. The small car for the city. The wife's car. The college kid’s car. The urban machine - affordable, efficient, compact, cheerful. And that’s something the small EVs can be really good at. Yet, how many EV brands are launching cars that fit that description? And those that are closest to the brief e.g. the MG Comet EV, are not exactly inexpensive.
Essar to invest Rs 30,000 crore in green hydrogen plant in Gujarat
Essar Group aims to invest Rs 30,000 crore in a green hydrogen plant in Jamnagar, Gujarat over the next four years. The focus will be on clean energy for growth. Plans include decarbonizing the UK oil refinery, building a green steel plant in Saudi Arabia, and creating an LNG and electric ecosystem for long-haul trucks. Essar also considers mining critical minerals for electric vehicle batteries and plans to expand renewable energy and green mobility solutions, such as LNG and electric trucks.
Clean energy investment set to run at double fossil-fuel spend
Investment in clean energy technologies is set to reach $2 trillion this year, doubling fossil fuel spending.
India’s climate dilemma will hang over PM Modi’s next five years
Prime Minister Narendra Modi aims to lead India into a 'green era' while grappling with a reliance on coal energy. He faces pressure to meet climate targets, including net zero emissions by 2070 and massive renewable energy goals.
India offers $500 billion investment opportunity in clean energy: Commerce secretary
India's commerce secretary Sunil Barthwal announced at the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore that India presents an investment opportunity exceeding $500 billion in the clean energy sector, including renewables, green hydrogen, and electric vehicles by 2030. The forum, consisting of 14 countries like India, Australia, and the US, has identified investment prospects totaling $23 billion for sustainable infrastructure projects in the Indo-Pacific region.
India offers above $500 bln investment opportunity in clean energy value chain
India offers a $500 billion investment opportunity in clean energy by 2030 at the IPEF Clean Economy Investor Forum in Singapore, resulting in $23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific.
India offers USD 500 billion investment opportunities in clean energy, other sectors by 2030
New Delhi India offers huge investment opportunities worth over USD 500 billion, particularly in clean energy value chain including renewables, green hydrogen and EV, by 2030, the commerce ministry said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.
Solar investment outstrips all other power forms: IEA
Global investment in clean energy technology and infrastructure is set to hit $2 trillion this year, twice the amount going into fossil fuels, an International Energy Agency report showed. Total energy investment is expected to exceed $3 trillion for the first time in 2024, the IEA said in its annual World Energy Investment report.
Haryana government to launch Rs 10,000-crore project to combat air pollution
Haryana Chief Secretary announced a Rs 10,000-crore project funded by the World Bank to tackle air pollution. The project aims to improve air quality in Haryana, starting with the NCR districts and expanding state-wide later.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
In-house solar power generation saving 2,300 tons of CO2 across RRTS corridor: NCR transport body
The solar power plants are now operational at the Guldhar and Sahibabad RRTS stations, each having a peak power capacity of 729 kilowatts (kWp), as well as at the Duhai Depot and Duhai Depot station with capacities of 585 kWp and 108 kWp respectively, it said.
How rooftop solar is reshaping energy consumption
India is undergoing a rooftop revolution with the development of solar technology, reshaping energy consumption patterns. The country aims to achieve ambitious renewable energy goals, focusing on rural electrification for inclusive development.
TIVOLT Electric set to launch e-SCV under 'Montra Electric' brand
TIVOLT Electric Vehicles, a joint venture by Murugappa Group and TI Clean Mobility, to launch e-small commercial vehicles under 'Montra Electric' brand. Tube Investments of India's Vellayan Subbiah highlighted India's role in global EV adoption and TICMPL's Rs 3,000 crore commitment to EV sector, including development of MHCV truck and Small Commercial Vehicle platform.
Powering ahead: The role of renewable energy in electric vehicle charging infrastructure
India aims for a sustainable future with EVs & renewable energy. Challenges include sparse charging stations & policy reforms. By 2030, target is 500 GW renewable energy for a greener tomorrow.
Electric vehicles will start to cut emissions and improve air quality in our cities - but only once they're common
We would get more immediate benefit by focusing on electrifying buses, which are a surprisingly large source of air pollution, and finding ways to cut rapidly growing emissions from diesel trucks.
Gujarat Toolroom acquires 65-acre land for Rs 570-cr hybrid energy project
Gujarat Toolroom invested Rs 572 crore in a 65-acre Gujarat land for a green energy project. The Hybrid Power Plant, with solar panels and wind turbines, aims to contribute 97.5 megawatts of sustainable electricity.
Battery recycling shatters the myth of EV waste
Traditional methods of ripping materials out of the ground and refining them for battery backs requires enormous amounts of energy. As a result, the initial carbon footprint of an EV is higher than a comparable internal combustion engine vehicle.Those upfront emissions are paid back over time with the superior efficiency of electric motors, leading to a 70% reduction in total emissions over the average life of the vehicle.
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