GREEN
View: Indian banks know climate is their biggest threat
RBI’s financial stability report warns of climate change risks despite declining loan defaults. Concerns exist over exposure to energy and construction sectors. A 2023 framework mandates climate strategies by March 2028. Regulatory delays persist, with a 2021 task force and low foreign interest in green bonds. Efforts to attract global investors continue. Public sector banks are particularly vulnerable.
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.
Cement sector sees marginal growth of 2-3 pc in Q1FY25: Icra
The cement sector experienced a modest 2-3 per cent growth in Q1 due to a slowdown in construction during the Lok Sabha polls, but FY2024-25 is expected to see a 7-8 per cent increase driven by infrastructure and housing demand. Top players are set to consolidate, expanding capacity and improving operating profits by 1-3 per cent from softened raw materials prices. Cement makers are also increasing green power usage to reduce emissions by 15-17 per cent in the coming years.
MSMEs are on sustainability path but profitability focus can make the move faster
MSMEs contribute a big part to India’s manufacturing output and hence, it becomes critical they adopt energy-efficient technologies to reduce operational costs.
India's solar output grows at slowest pace in six years in first half of 2024
Solar power generation in the third-largest producer of electricity from the sun rose to 63.6 billion kilowatt-hours (kWh) in the first half of 2024, the data showed, up 14.7% compared with the same period last year and 18.5% in the calendar year 2023. The world's fastest growing major economy has prioritised coal to address a surge in power demand in recent years.
Works of Robert Greene to achieve personal excellence and success
Robert Greene is a masterful author renowned for his deep exploration of power dynamics, human psychology, and strategic mastery. His books have become essential reading for those seeking to understand and navigate the complexities of human behavior and influence. Greene’s works, including "The 48 Laws of Power," "The Art of Seduction," and "Mastery," offer a unique blend of historical anecdotes, psychological insights, and practical advice. Through his rich and compelling narratives, Greene provides readers with timeless wisdom and strategies that are as relevant today as they were centuries ago.
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Acre ARC sells Nagarjuna Fertilizers and Chemicals debt to AM Green for ₹1,685 cr
Nagarjuna Fertilizers has successfully cleared its massive debt, positioning itself for a potential merger with AM Green to optimize brand and distribution synergies. The unresolved sale issues of its plant and business loom large, impacting the transfer of government subsidies.
Jakson Green signs pact with NHPC for supply of 400 MW solar power
NHPC secures a long-term power deal to benefit discoms in a 25-year agreement with Jakson Green. The 400 MW project in Rajasthan strengthens Jakson Green's leading position, complementing its extensive 1 GW portfolio and collaborations with RUVNL, marking a significant milestone in the energy sector.
Indian Army propels towards zero-emission by introducing 113 electric buses
The Indian Army has acquired 113 electric buses for troop transportation, aligning with the government's green initiatives. These 40-seater buses, with a range of 250 kilometers, are meant for plains and semi-hilly areas and are in the trial stage. This procurement supports India's zero-carbon emissions directive and highlights the military's commitment to eco-friendly solutions. The initiative reflects India's leadership in sustainable practices and innovation, encouraging other sectors to follow. The Indian Armed Forces are now blending national security with environmental stewardship for a greener future.
FMCG Q1 check: Some hot, some not
Scorching summer heat and elections created a mixed quarter for consumer goods, with sales of cooling products like beverages, ice creams, talcum powder, and sunscreens rising up to 15 per cent amidst the heatwave. However, impulse snacks and single-serve beverages saw a decline due to reduced out-of-home consumption. Election restrictions impacted alcohol sales, while delayed monsoon affected insecticide sales. Last-mile servicing challenges were reported, particularly in rural areas due to the heat.
Industry Season 3: Check out cast, teaser, plot, characters, premiere date, where to watch, production and creative team
HBO releases the "Industry" Season 3 teaser. The season features Kit Harington as a green tech leader. The plot revolves around ethical investing and the IPO of Lumi. Harper returns to finance with a new partner. The season premieres on August 11 on HBO and Max.
AM Green, SJVN arm ink MoU for supply and sourcing of green energy
AM Green's partnership with SJVN Green Energy aims to supply 4.5 GW of renewable energy. The project supports India's green hydrogen production targets and contributes to global industrial decarbonization. Additionally, collaborations with Gentari Sdn Bhd and GIC further enhance AM Green's position in the renewable energy sector.
SJVN to supply 4500 MW green energy to AM Green's green ammonia facilities
Greenko Group's subsidiary, AM Green, and SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, have signed a Memorandum of Understanding (MoU) for a long-term renewable energy supply agreement. Under the agreement, SGEL will provide 4,500 MW of carbon-free energy to power AM Green's forthcoming green ammonia facilities.
Google buys stake in Taiwan solar power firm owned by BlackRock
Investing in New Green Power in Taiwan, I drive sustainable energy solutions for manufacturers, reducing Scope 3 emissions. This aligns with my commitment to carbon-free operations and environmental sustainability, supporting solar capacity growth in the region.
Serbia's green activists rally against Rio Tinto lithium project
In Loznica, Serbia, scores protested against the Rio Tinto lithium project, fearing environmental damage. Despite revoked licenses in 2022, protesters demand a ban on lithium mining within 40 days, threatening nationwide blockades. The Jadar project, opposed by environmentalists, could supply 90% of Europe's lithium needs. Serbia's President Vucic signals readiness to approve the controversial mine.
Hero Future Energies gets shortlisted for Bhubaneswar Hydrogen Valley project
Hero Future Energies (HFE), the renewable energy arm of the Hero Group, has been selected as a consortia partner for the Bhubaneswar Hydrogen Valley Innovation Cluster (HVIC). Operating as the industry partner for IIT-Bhubaneswar, HFE will focus on green hydrogen production for steel and mobility sectors through electrolyser technology.
Ashish Kacholia invests Rs 40 crore in Inox Green Energy’s Rs 1,050 crore fundraising plan
The Rs 1,050-crore fundraising plan involves issuing 2,89,85,503 equity shares valued at Rs 400 crore and 4,48,27,582 convertible warrants valued at Rs 650 crore. These shares and warrants will be allotted to a total of 12 investors, including Kacholia.
Sembcorp files suit against Siemens Gamesa over unsettled arbitration
Sembcorp's India unit has filed a lawsuit in a Bengaluru court to prevent Siemens Gamesa from selling its Indian business assets before settling an ongoing arbitration. The arbitration pertains to alleged default in executing a contract. Sembcorp has sought an injunction over the sale, which includes Siemens Gamesa's shareholding in India.
Juniper Green Energy secures renewable PPAs in Gujarat, Rajasthan
Juniper Green Energy announced on Wednesday that it has signed power purchase agreements for renewable energy projects in Gujarat and Rajasthan. The company has secured an agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) under wind phase VI for a standalone 90 MW wind project in Gujarat. The aim of these projects is to promote renewable energy in these regions.
Amazon & Google suspending green card applications: Why EB-5 visa a perfect fix for H-1B challenges and tech layoffs
The EB-5 visa program provides stability, job creation, and a streamlined immigration process, making it a reliable alternative for those facing uncertainties in the tech industry. With a direct path to green card status and economic growth opportunities, EB-5 offers a secure pathway to permanent residency.
Adani to invest Rs 2 lakh crore in renewable energy capacity addition by 2030
Adani Group plans to invest Rs 2 lakh crore by 2030 to achieve 40 GW of renewable energy generation capacity, aiming for net zero emissions by 2050. With over 10 GW capacity currently, they aim to add 6-7 GW annually to reach 50 GW by 2030. The investment is estimated at Rs 5 crore per megawatt. Adani Green Energy Ltd has added 2.8 GW capacity in FY24.
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.
Inox Green Energy Services board to meet on 26 June; to consider fundraise options
Inox Green Energy Services Limited plans to raise funds through preferential allotment and warrant issuance in a board meeting on June 26, aiming to acquire Rs 1000 crore for future ventures.
REC to raise $500m through green bonds, concludes roadshow in London
The proceeds will be used to fund renewable energy projects. REC will use its internal system to monitor and allocate the green bond proceeds, as outlined in its green bond framework.
Uber Green electric cabs launched in Kolkata
Uber becomes the second ride-hailing service provider to offer electric vehicles in the city of Kolkata, following Snap E, another brand operating with an all-EV fleet.
Jakson Green wins NTPC order for setting up project to produce 4G ethanol from flue gas
Jakson Green secured a contract from NTPC to build a plant in Chhattisgarh producing 10 tonnes per day of 4G ethanol from power plant flue gases. Utilizing Veolia’s carbon capture technology, the plant will capture 25 TPD CO2 and produce 3 TPD green hydrogen. The project will be operational in two years.
500,000 immigrants could eventually get US citizenship under Biden's new plan
Biden administration introduces program for immigrant spouses of US citizens to receive deportation protection, work permits, and pathway to citizenship, aiming to reduce family separations under current immigration laws.
Continuum Green Energy revives green bond offering post election pause
Continuum Green Energy is set to proceed with its $660 million secured green bond offering, initially paused due to political uncertainties after Prime Minister Narendra Modi’s third-term win with fewer seats than expected.
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