ENERGY INFRASTRUCTURE
Budget 2024: Capex, SOPs, bold reforms top infra and energy companies' wish list
Budget 2024: Finance minister Nirmala Sitharaman on Friday met representatives from the infrastructure and energy sector as a part of her pre-budget consultations. "While the capex support for the infrastructure was common, the industry wanted bold reforms to push infrastructure projects, support for energy transition and tax incentives for solar and sector to meet India's goal to attain net-zero by 2070," said a person aware of the details of the meeting. The industry is also seeking a government roadmap for creating better cities.
Norms issued for funding of testing facilities, infra for National Green Hydrogen Mission
The Ministry of New and Renewable Energy has released guidelines to fund testing facilities and infrastructure for the National Green Hydrogen Mission, aiming to develop standards and regulatory frameworks. The initiative will address gaps in existing testing facilities for green hydrogen and its derivatives, and support the establishment and enhancement of new testing facilities to ensure safe operations. With a budget of Rs 200 crore until 2025-26, the scheme is part of the Rs 19,744 crore allocated for the mission, with the National Institute of Solar Energy overseeing implementation.
Britain’s economy isn’t seeing growth anywhere near India’s 7% GDP rise — this has caused fewer differences between the Conservatives and Labour: Jaideep Prabhu
The UK election landscape is marked by economic uncertainties post-Brexit, minimal policy distinctions between parties, and environmental concerns driving voter engagement. Influential figures like Farage, Johnson, and Sunak shape political narratives, while climate change discussions underscore the urgency for sustainable solutions amidst global warming threats.
Sensex@80,000: Fastest 10K-point rally in 139 days churns out 20 multibagger stocks
Sensex hit 80,000, its fastest 10,000-point rally from 70,000 in history. In 139 days, 20 BSE500 stocks became multibaggers. Sensex first hit 10,000 in Feb 2006, took 463 days for 20,000, and another 2,318 days for 30,000 in April 2017.
Transforming India's power grid: Highlights from the Transmission & Distribution Conclave 2024
The conclave that took place at KSH Infra Park in Pune, Maharashtra on June 13, brought together industry leaders, experts, and enthusiasts to explore the transformative possibilities within the transmission and distribution industry.
MMRDA inks Rs 850-crore urban infra financing pact with German development bank KfW
The funds procured from KfW and MMRDA's resources will be primarily allocated towards various sustainable development projects within and around the Mumbai Metropolitan Region. These initiatives include the development of green corridors, solid waste management systems, recycling and reuse facilities, and the promotion of renewable energy solutions to address environmental concerns and enhancing the quality of life for residents in the bustling metropolitan area.
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Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
L&T bags significant order for solar plant in Bihar
Infrastructure major Larsen and Toubro (L&T) has won a substantial contract to construct a grid-connected solar plant with a battery energy storage system in Bihar, valued between Rs 1,000 crore and Rs 2,500 crore. The project in Kajra village, Lakhisarai district, will assist Bihar in utilizing renewable energy and overcoming climate change challenges.
Rise of EVs: The urgency of climate action
Climate change effects are evident globally, urging immediate action to prevent irreversible damage by 2030.
Suzlon Energy, Bharat Forge among 6 midcap stocks that hit fresh 52-week highs on Friday
Nifty50 and Sensex surrendered early gains on Friday, dragged by index heavyweights Reliance Industries and HDFC Bank. However, in Friday's trading session, six midcap stocks from the Nifty200 index hit new 52-week highs. Here's the list:
Adani Group to invest $100 billion in energy transition, says Gautam Adani
Green hydrogen, which is made by splitting hydrogen from water with the help of electrolyzers powered by clean energy, is seen as a potential panacea for decarbonizing the industry as well as transportation. Speaking at 'Infrastructure - the Catalyst for India's Future' event of Crisil, Adani Group chairman Gautam Adani said energy transition and digital infrastructure are trillion-dollar opportunities which will transform India both at a local and at a global scale.
By 2032, India infrastructure spending will surpass $2.5 trillion, says Adani
The Adani Group, he said, will invest over $100 billion (around ₹8.35 lakh crore) over the next decade in energy transition projects and in manufacturing every major component required for green energy generation. Adani Green Energy is building solar and wind parks. The group is also building facilities to manufacture electrolyzers to make green hydrogen, wind power turbines and solar panels.
Roads, renewables and real estate investments to go up by 38% in FY’25 and FY’26 to Rs 15 lakh crore: CRISIL Ratings
In its annual Infrastructure Summit 2024, CRISIL Ratings said the surge will ride on India’s need for creation of sustainable infrastructure by adding more green power to the energy mix, improving physical connectivity through a denser road network, as well as rising demand for residential and commercial real estate, cautioning of some risks across three scetors.
Jefferies' Wood picks GMR Airports, reduces weights in three banks
Wood said, in his weekly Greed & Fear newsletter, that the airport operator's introduction into its portfolio will be at the expense of the reduction of weights in ICICI Bank, HDFC Bank and Axis Bank.
Chris Wood of Jefferies picks GMR Airports, trims stake in 3 bank stocks
Jefferies' Global Head of Equity Strategy Chris Wood has added GMR Airports Infrastructure to India portfolio and reduced stakes in ICICI Bank, HDFC Bank, and Axis Bank.
Thanks to proactive planning, no power crisis in state, says Karnataka Energy Ministry
Karnataka's strategic use of renewable and non-renewable energy resources has enabled it to meet rising energy demands, especially during peak summer months, according to state Energy Minister K J George. The state achieved record power consumption levels between February and May this year, with peak demand reaching 17,220 MW on February 12 and daily consumption averaging 332 million units on April 5. This success is attributed to increased generation capacity, renewable energy integration, efficient grid management, and demand-side management initiatives. Additionally, the state negotiated power exchanges with other states to manage excess demand, showcasing Karnataka's commitment to sustainable energy practices.
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.
Army chief visits Thal Sena Bhawan construction site; complex to be completed by Jun 2025
Army Chief Gen Manoj Pande visited the Thal Sena Bhawan construction site at Delhi Cantonment, set to complete by June 2025. Initiated in March 2023, the project focuses on modern infrastructure and sustainability, featuring green initiatives like tree transplantation, compensatory planting, and eco-friendly materials. The complex aims to be net-zero with facilities for composting, sewage treatment, solar energy, and EV charging. Additionally, Gen Pande inaugurated a 400-bed state-of-the-art barrack completed in one year. The eight-storey HQ building aligns with the Central Vista redevelopment, costing approximately Rs 760 crore.
As India steps back into coalition era, uphill road for tough reforms
In the new coalition government era, India's reform agenda may prioritize job creation and factors market reforms. Balancing political sensitivities and reform priorities will be crucial for the government in navigating coalition dynamics and opposition pressures.
Great opportunity for investors to build or reconstruct their portfolios: Sandeep Tandon
See, both manufacturing and defence in particular have been very expensive. If I have to say in any manufacturing space where is the biggest froth? Again, not in absolute terms but on relative basis, defence is the biggest froth which got built and is getting built for last many months now.
Continuum energy to raise $650 m via bonds
Continuum Green Energy, a renewable energy generator, plans to raise $650 million in bonds to refinance existing debt, with Deutsche Bank, HSBC, JPMorgan, and Standard Chartered Bank as arrangers.
Port sector urged to decarbonise entire chain of operations
Maharashtra Maritime Board's Chief Port Officer Praveen S Khara said there is a need for these public and private stakeholders to collaborate in decarbonising the entire chain of operations.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies posted a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24 as the apples-to-airport conglomerate made a massive comeback, the group said on Sunday.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies saw a record 45% rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24, marking a massive comeback for the apples-to-airport conglomerate. The group focused on containing debt, reducing founder share pledge, and consolidating the business in core competencies. The five-year compound annual growth rate for profit growth was 54%.
Russia damages Ukrainian energy infrastructure in 5 regions
Russian missile and drone attack has damaged energy facilities in five regions in Ukraine. The Ukrainian air defence shot down 46 out of the 47 Russian drones.
Avaada Energy secures Rs 315 crore finance for captive solar project in Karnataka
Avaada Energy secured Rs 315 crore financing from Aseem Infrastructure Finance ltd (AIFL) for a solar project in Karnataka. It will be developed under a long-term captive Power Purchase Agreement (PPA) with Karnataka Milk Federation (KMF). The funding from AIFL demonstrates Avaada's project financing capability and strategy. The project, located in Kalaburagi district, is expected to be completed in Q3 FY25.
There's a fork in the road to clean energy
Hybrids run on electricity generated by burning fossil fuels. This situation will not change as we move up the hybrid technology tree. EVs, too, run on electricity produced in India principally from fossil fuels. However, transition to renewables makes EVs progressively less polluting. At some point in the future, EVs will be far cleaner than hybrids. So, do the two categories deserve the same fiscal encouragement?
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