GREEN ENERGY SECTOR
Hydrogen sector asks EU to help local firms compete with China
The companies want Brussels to do more to ensure Europe-made equipment powers the EU's plan by 2030 to produce 10 million tonnes of renewable hydrogen using electrolysers, machines that use electricity to split water to produce the green fuel.
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.
World Bank lends $1.5 billion push to power green hydrogen market
India's energy transition supported by the World Bank includes green hydrogen promotion, renewable energy scaling, and grid code amendments for enhanced integration of battery energy storage solutions.
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.
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Odisha govt approves renewable energy projects worth Rs 903 Cr
The panel approved the proposal of HPCL Renewable & Green Energy Ltd to set up a 48-MW wind energy project at Umerkote in Nabarangpur district, while ONGC Tripura Power Company Ltd got the go-ahead to develop a 49.5-MW wind energy project in Astaranga in Puri district, the statement said.
Europe's green transition offers India-Bulgaria trade opportunities, says Indian envoy
India's Ambassador advocates for a bilateral agreement with Bulgaria to employ third-country workers, aligning with existing agreements in Europe. This strategic move aims to enhance economic cooperation and provide skilled manpower to Bulgarian employers, further solidifying the strong economic and cultural ties between the two nations.
ETMarkets Smart Talk: Reforms to attract FDI, simplification of tax regime & green energy likely in Budget 2024: Gurpreet Sidana
The positive trends in global markets, favourable domestic economic data, and optimism regarding corporate earnings growth have further bolstered market sentiment.
Nervous investors tear up ESG playbooks in election supercycle
In 2024, global elections spark an anti-green trend affecting ESG investments. Marine Le Pen and Trump's influence reshape the environmental landscape. Utility stocks gain prominence amidst shifting policies and investor sentiments.
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.
How to create a successful green career: Read what experienced professionals have to say
The green industry is booming with opportunities for young professionals seeking fulfilling careers. Insights from industry experts reveal the motivations behind choosing green roles, the evolving scope of sustainability positions, educational requirements, salary expectations, and challenges faced in navigating this dynamic sector.
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.
FY24 threw 12 multibagger stock ideas with consistent earnings growth. Which ones to chase?
FY24 featured 12 multibagger stocks with consistent earnings growth in sectors like autos, capital goods, PSUs, power, and infra sectors. Experts shared valuable insights for investors looking to capitalize on market opportunities.
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.
JSW Energy begins construction as part of its foray into battery storage services
JSW Energy has started construction on a Battery Energy Storage Project (BESS) to enter the energy storage services business, enabling the storage and release of renewable energy. They were awarded a 1.0 GWh battery storage project by SECI, with commissioning expected by June 2025. The company is also developing green hydrogen and steel projects, aiming to achieve 20 GW generation capacity and 40 GWh energy storage capacity by 2030.
JSW, Torrent, Masdar among suitors for Enel's India assets
The portfolio of Enel Green Power India comprises 760 megawatts (MW) of operational wind and solar power assets and a development pipeline of 2 gigawatts (GW). Of the operational capacity, solar power projects comprise 420 MW, with the balance 340 MW coming from wind power.
Adani to invest over $1 bn in Sri Lankan wind projects
Adani Group plans to invest over USD 1 billion in setting up projects in Sri Lanka through Adani Green Energy Ltd. The projects include two wind farms in Sri Lanka's Mannar town and Pooneryn village with a total capacity of 484 megawatts.
Green energy to drive power sector investment, coal to remain significant: Moody's
India’s power sector investments will be driven by renewable energy and transmission projects which will require an investment of $340-385 billion to meet the government's target and associated incremental transmission and storage system, Moody’s Ratings said on Thursday.
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.
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.
Sterlite Power secures Rs 1,373 crore funding for Neemrana II Kotputli transmission project
Sterlite Power announced the successful funding of Rs 1,373 crore for its Neemrana II Kotputli Transmission Limited project from Power Finance Corporation. Sterlite Power aims to build a green energy corridor. Acquired in November 2023, the project will operate on a BOOT basis for 35 years. This initiative will interconnect the Neemrana and Kotputli substations and facilitate a LILO to integrate the Neemrana II substation with Gurugram and Sohna substations.
Why power stocks are a healthy combination of high growth and reasonable valuations
Government initiatives and rising energy demand are transforming the Indian power sector, offering investment opportunities with high growth and reasonable valuations. The sector's growth is fueled by a move towards renewable energy sources, positioning India as a major player in global energy markets. A strong correlation exists between GDP growth rate and power consumption.
Zinc demand in India likely to double in next 5-10 years
The demand for zinc in India depends largely on the growth of the steel market as zinc is mainly used to galvanise steel to protect it from corrosion. "I see a doubling of the demand (for zinc) in the next five to 10 years. The market for primary and refined zinc in India is currently close to 800 to 1,000 tonnes (per annum) and has a great opportunity to increase with all the developments that we are witnessing in India."
Green career path looks promising but remember that it is a nascent industry
The green job sector is rapidly expanding with numerous growth opportunities, but also presents challenges due to its nascent stage. Individuals must navigate issues like evolving landscapes, skill gaps, and market fluctuations. Strategies include pursuing relevant education, upskilling, leveraging AI, networking, and remaining adaptable to excel in this dynamic industry.
Solar stocks outshine with up to 1,318% return in 1 year. Who’s driving the bull run?
Waaree Renewable Technologies, a smallcap solar company, has emerged as the leading gainer in the solar sector, boasting an astounding annual return of 1,318%. It is followed by WAA Solar with a gain of 561%, Zodiac Energy with 393%, and SJVN with 236%.
IREDA incorporates subsidiary in GIFT City, Gujarat
Pradip Kumar Das, Chairman & Managing Director of IREDA, said, "This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding to drive the renewable energy sector's growth." He added that IREDA's entry into the IFSC is anticipated to unlock fresh business prospects and establish its global footprint in the renewable energy sector.
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