GREEN POWER CONSUMPTION
AI supercharges data centre energy use-straining the grid and slowing sustainability efforts
According to the Electric Power Research Institute, a nonprofit research firm, at 2.9 watt-hours per ChatGPT request, AI queries require about 10 times the electricity of traditional Google queries. Data centres have continuously grown for decades, but the growth in the still-young era of large language models has been exceptional.
How Indian data centre operators are mitigating AI power consumption woes
Indian data centre operators are racing to reduce the massive power consumption of AI infrastructure. As the country prepares to acquire 100,000 GPUs by 2024, concerns over sustainability and environmental impact are mounting.
Green energy may power industries in-house demand: Eversource CEO Dhanpal Jhaveri
India's captive industrial power consumption, currently around 90 gigawatts from fossil fuels, has significant potential for renewable energy replacement, said Dhanpal Jhaveri, chief executive at Eversource, a green energy investment platform. Eversource, a partnership between Everstone and Lightsource BP, sees global climate policies like the EU's carbon footprint taxes driving this shift. Industrial giants like ArcelorMittal, JSPL, JSW, and Vedanta are investing in renewable energy for captive use to align with global climate goals.
ONGC to invest Rs 2 lakh cr to meet net zero emission target
State-owned Oil and Natural Gas Corporation (ONGC) will invest around Rs 2 lakh crore to achieve net-zero carbon emissions by 2038. The investment will focus on renewable energy sites, green hydrogen plants, and eliminating gas flaring. ONGC, which produces a significant portion of India's crude oil and natural gas, outlined its plan in a 200-page document. By 2030, ONGC will invest Rs 97,000 crore in renewable energy projects, including solar and offshore wind.
Interest subvention likely to push energy efficiency among MSMEs
The power ministry has begun discussions on offering interest subvention under the Assistance in Deploying Energy Efficient Technologies in Industries & Establishment (ADEETIE) Scheme for adoption of energy efficient technologies, people aware of the developement said.
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.
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Prevent mindless utilisation, promote mindful consumption: Bhupender Yadav
At the first India Climate Summit of the Times Network on Friday, Bhupender Yadav, the minister for environment, forest and climate change, pointed out carbon emission-intensive anthropocentric development, unsustainable consumption patterns, and desertification as three pressing issues that confront the world today.
Wind power generation picks up pace in TN; clean energy meets one-third of state’s power demand
Tamil Nadu's wind and solar energy generation peaked on Wednesday, meeting over one-third of the state's power needs. Wind power set a new record with 105.138 million units contributing to the grid. Solar power added 25.8 Mu despite overcast conditions, showcasing the state's commitment to green energy.
This fund manager thinks it is the right time to bet on consumption theme. Here’s why
The common theme is these are all branded goods and services that consumers are either consuming today or want to consume. So, in a way, this is a heterogeneous thematic, which allows for that opportunity for picking and managing between different sub-segments, as well as diversification, says Nippon India MF's Amar Kalkundrikar.
DERC releases draft regulation for green power obligations on discoms
The DERC has issued draft regulations mandating a 29.91% green energy purchase for stakeholders in 2024. RPOs require electricity distribution licensees to buy energy from renewable sources.
Kolkata Metro to get battery power for moving stranded train
Kolkata's Metro Railway is installing a Battery Energy Storage System in the Dakshineswar-New Garia corridor to move trains during power outages, enhancing safety and energy efficiency.
FPIs stay bullish on growth stocks, cut defensive bets a bit
Foreign portfolio investors have been selling Indian shares ahead of the elections, focusing on growth stocks over defensive ones. Data from NSDL shows a decline in FMCG and IT sector weightage in FPIs' equity folio.
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.
Electricity trade volumes on IEX jumps nearly 29 pc to 10,633 mn units in May
Indian Energy Exchange's trade volume grew by 29% in May, with electricity volumes increasing by 21%. The renewable energy certificates (RECs) surged by 640.3% yearly, impacting obligated entities and voluntary customers. Proactive measures by the government and regulators influenced trading platforms and market prices.
10 Best Tea Bags in India: Brewing Brilliance
This article reviews the 10 best tea bags available in India, highlighting their key features, flavors, and customer feedback. It covers a range of tea types, from classic black to aromatic herbal blends, catering to diverse tastes. Whether you're a tea enthusiast or a casual drinker, this guide helps you find the perfect tea bag.
Why there is an urgent need for data centres to go green
Data centres are significant consumers of electricity, using approximately 2% of the world’s power and emitting CO2 that is equivalent to the airline industry, a high carbon intensive business.
Extreme heat lowers nations’ per capita income — but cities could thrive even in hotter conditions: Matthew E. Kahn
Matthew E. Kahn, Provost Professor of Economics at USC, discusses the impact of climate on economic growth and solutions offered by enterprise in an interview with Srijana Mitra Das.
Digital infrastructure company Equinix tries out hydrogenated vegetable oil for green power
The company collaborates with universities, government agencies and industry bodies to develop sustainable technologies, such as hydrogen fuel cells and software-defined power.
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.
Flight to sustainability: How microgrids are transforming airports into green energy hubs
Airports worldwide are increasingly investing in microgrid technology as a strong strategic solution that allows them access to continuous, localised, and self-reliant power supply.
Delhi's power demand peaks at 6,780 MW; may reach 8,000 MW this summer: Discoms
With the day temperature spiralling up with each passing day, Delhi's power demand shot to 6,780 MW on Thursday -- the highest this summer so far, discom officials said. Realtime data from State Load Dispatch Centre (SLDC) showed that the peak power demand of the city was 6,780 MW at 3.26 PM on Thursday.
ETMarkets Smart Talk: Focus on green energy to lead to multi-billion dollar enterprises over next decade: Jyoti Vaswani
Jyoti Vaswani discusses the potential of multi-billion dollar enterprises in the green energy space and its impact on equity markets. She provides insights on the US Fed moves, RBI, inflation, Q4 earnings, management commentary, Nifty performance as well as May trends. Vaswani says that since FY24 has seen a broad-based rally, FY 25 can be expected to be driven by sustained corporate earnings growth and policy continuity.
Greenko Zero C to supply 500,000 tonnes of green ammonia to Norway's Yara Clean Ammonia
Deliveries to start from Kakinada from Q4 of CY26, Industry sources say contract size expected to be $1.5-$1.8 bn over 10 years. 5GW of renewable power and pump storage in Andhra Pradesh to back production
Green energy stocks surge up to 600%! Why green is the new gold on Dalal Street
Green energy stocks surge on Dalal Street with up to 600% returns fueled by India's renewable energy growth. Investors eye opportunities in the sector, driven by ambitious targets, support from Morgan Stanley, and initiatives like the rooftop solar scheme under Pradhanmantri Suryodaya Yojana.
Aluminium industry requires additional capex of Rs 2.2 lakh cr to achieve net-zero emissions: Study
Net-zero aluminium could be 61 per cent more expensive, the study said, adding that decarbonising this industry would also lead to a yearly increase of Rs 26,049 crore in additional operating expenditure, as per the study. Although the country's per capita aluminium consumption is low at 2.5 kg (compared to the world average of 11 kg), the industry emitted nearly 77 million tonnes of CO2 in 2019-20, it said.
INOXGFL plans to invest Rs 20,000 cr in green energy, chemicals business
The group operates in two broader segments-chemicals and renewables-comprising fluoropolymers, fluorochemicals, solar, green hydrogen and wind energy. Of the total planned investment, 60-65% is likely to go towards renewable energy addition, Jain said.
Hitachi Energy eyes expansion in India amid rising power demand
Hitachi Energy plans to establish global capability centers in India, particularly in Hyderabad and Pune, to meet the rising energy demand and promote renewable energy generation, aligning with India's ambitious 500 GW target by 2030.
Coal keeps powering India as booming economy crushes green hopes
India's energy dilemma at Tuticorin plant showcases the struggle to shift from coal to renewables. Despite global pressure, the country leans on coal, hindering efforts to reduce greenhouse gas emissions and ensure reliable electricity for its growing population.
Power demand to grow 8-9% in India, capacity will grow, but cost will fall from 2030: Praveer Sinha, Tata Power
Praveer Sinha discusses challenges in the power sector, emphasizing the upcoming reduction in power costs by 2027-2030. He underscores the crucial role of battery storage in the transition to clean energy for reliable 24x7 power availability. Sinha says energy transition is a big thing because it is the need of the hour with concerns about climate change and sustainability.
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