India plans to achieve half of its renewable potential by 2030

India plans to achieve half of its renewable potential by 2030

Last Updated: NOVEMBER 16, 2021

At the recently concluded COP26 summit in Glasgow, Prime Minister Narendra Modi announced that India would increase the installed capacity of renewables to 500GW by 2030. While the government’s earlier plan was to ramp up renewable capacity of 450 GW, another 50 GW has been added to the target. India, until now, has been able to achieve only a fourth of this target.

Renewable capacity addition as per CEA data for September had crossed the 100 GW mark. PM Modi has also set a target of net-zero for 2070. But what is interesting is that India plans to reach half of its …

Source Link: https://www.business-standard.com/article/economy-policy/india-plans-to-achieve-half-of-its-renewable-potential-by-2030-121111600897_1.html

NTPC, Indian Oil Collaborate on Renewable Energy

NTPC, Indian Oil Collaborate on Renewable Energy

Last Updated: NOVEMBER 15, 2021

Collaborate on Renewable Energy
NTPC Ltd. and Indian Oil have signed a memorandum of understanding (MoU) to collaborate in the field of renewable energy and mutually explore opportunities for the supply of low carbon/RE RTC captive power.

Highlights :
-Aiming to scale up its portfolio of green energy, Indian Oil plans to meet 85% of the power requirement for new projects in its refineries primarily from renewable sources in the near future.

-NTPC aims to install 60 GW renewable energy capacity by 2032, which entails a total investment of Rs 2.5 lakh crore.

This is a first-of-its-kind novel initiative by two leading national energy majors of India, to support the country’s commitment to achieve renewable energy targets & reduce greenhouse gas emissions, said the two companies in a statement.

Aiming to scale up its portfolio of green energy, Indian Oil plans to meet 85% of the power requirement for new projects in its refineries primarily from renewable sources in the near future.

Indian Oil is also well poised to leverage India’s sustainable commitments through multiple green initiatives, including increased use of natural gas in all refineries, ethanol-blended Motor Spirit, sale of Compressed Biogas (CBG) and production of biodiesel using cooking oil as feedstock, states the company.

Speaking on the occasion, Mr. Shrikant Madhav Vaidya, Chairman, Indian Oil said, “As a global energy major, environmental priority is being weaved into every business aspect of Indian Oil and now, we intend to use green energy to power new projects and refinery expansions.”

NTPC and Indian Oil have come together for the generation and storage of renewable energy or other forms of energy, including gas-based power, primarily to cater for Indian Oil refineries or other installations.

Mr. Gurdeep Singh, CMD, NTPC, said, “NTPC is taking various steps to make its energy portfolio greener by adding significant capacity of renewable energy sources so that our non-fossil fuel-based capacity will become equal or greater than our thermal portfolio by 2032. Through this MoU, the strengths of both the organizations can be leveraged to achieve the aim of the country to meet its net zero commitments.”

The present installed capacity of NTPC Ltd, India’s largest integrated energy company, is 67,657.5 MW (including 13,425 MW through JVs/subsidiaries), which comprises 47 NTPC stations (23 coal-based stations, 7 gas-based stations, 1 hydro station, 1 small hydro, 14 solar PV and 1 wind-based station) and 26 joint venture stations (9 coal based, 4 gas based, 8 hydro, 1 small hydro 2 wind and 2 solar PV).

State-run NTPC has plans to list its arm NTPC Renewable Energy Ltd in 2022-23, to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032, which entails a total investment of Rs 2.5 lakh crore. The company has won 4.32 GW of renewable energy bids since the last financial year.

Meanwhile, another state owned energy major NHPC has got board approval for a proposal to form a joint venture for the implementation of a 500 MW floating Solar Power Project in various water reservoirs in the State of Odisha.

The JV is going to be between NHPC and Green Energy Development Corporation of Odisha (GEDCOL).

The Board has also accorded its investment approval to contribute initial equity of Rs7.4cr by NHPC in the JV Company, to be promoted jointly by NHPC (74%) and GEDCOL (26%).

Source Link: https://www.saurenergy.com/solar-energy-news/ntpc-indian-oil-collaborate-on-renewable-energy

Goa preparing 100% renewable energy plan

Goa preparing 100% renewable energy plan

Last Updated: NOVEMBER 15, 2021

PANAJI: The state government has started preparing a 100% renewable energy plan with the assistance of the Union government to achieve the goal of cent per cent use of renewable energy.

Environment minister Nilesh Cabral, in a letter to the Union government, stated that Goa is in the process of preparing a 100% renewable energy plan with assistance from the Union ministry of new and renewable energy (MNRE).

Goa requires approximately 540MW power during the day and 640MW during peak hours, 6pm to 11pm. The government has notified a solar policy with 50% subsidy on benchmark cost. However, till date, only about 15MW installations have been completed.

“The Goa Energy Development Agency (GEDA) is the nodal agency which interacts with MNRE for implementation of centrally sponsored schemes as well as schemes of the government of Goa in the field of new and renewable resources,” Cabral said.

The state government has decided to set up floating solar power plants at Selaulim, Amthanem, Anjunem and Chapoli dams on a design, build, finance and operate model for a period of 25 years and has invited expression of interest (EoI) for selection of solar power developers.

Source Link: https://timesofindia.indiatimes.com/city/goa/state-preparing-100-renewable-energy-plan/articleshow/87705014.cms

India adds 1,522-MW renewable energy capacity in October 2021

India adds 1,522-MW renewable energy capacity in October 2021

Last Updated: NOVEMBER 12, 2021

New Delhi: India added 1,522.35 megawatt (MW) of (RE)  renewable energy capacity in October 2021, which took the total installed RE capacity to 103.05 gigawatt (GW) as on 31 October, 2021, according to the monthly Cabinet brief issued by the ministry of new and renewable energy (MNRE) on Friday. This included 47.66 GW of solar, 39.99 GW of wind, 10.58 GW of biopower and 4.82 GW of small hydro capacity. According to the October brief, projects of 50.98 GW capacity were at various stages of implementation while projects of 32.06 GW capacity were under various stages of bidding.

An expenditure of Rs 2,265.99 crore was incurred up to 31 October, 2021 which was about 39.39 per cent of the total Budget Estimate for the ministry for 2021-22.The ministry note added that Letters of Award were issued on 4 October, 2021 for setting up of aggregate capacity of 5,000 MW solar power plants using domestically manufactured solar PV cells and solar modules by the Indian Renewable Energy Development Agency under Tranche-III of MNRE’s CPSU Scheme Phase-II. India had set an ambitious target of 175 GW capacity by 2022, which would include 100 GW of solar energy, 60 GW of wind energy, 10 GW of small hydro power, and 5 GW of biomass-based power projects. However, PM Narendra Modi recently raised the nationally determined contribution target of non-fossil energy capacity to 500 GW by 2030 from 450 GW earlier at COP26 Glasgow. According to a PTI news report released this month, renewable energy minister R K Singh had said that India will easily achieve the target of 50 per cent share of energy from non-fossil fuels and also the 500 GW RE capacity before the deadline of 2030 set by Prime Minister Narendra Modi.

Source Link: https://energy.economictimes.indiatimes.com/news/renewable/india-adds-1522-mw-renewable-energy-capacity-in-october-2021/87663916

Punjab Goes the Andhra Way, Mulls Legislation to Renegotiate Renewable Energy Tariffs

Punjab Goes the Andhra Way, Mulls Legislation to Renegotiate Renewable Energy Tariffs

Last Updated: NOVEMBER 05, 2021

In a move that could set another bad precedent, the Punjab Government is contemplating bringing legislation to reduce the tariffs for renewable energy projects approved by the electricity regulatory commission.

Presiding over a meeting to discuss tariff renegotiation, Punjab New and Renewable Energy Sources Minister Raj Kumar Verka said that the state was exploring ways to bring legislation to reduce the tariffs discovered earlier, sources told Mercom.

The state government believes that the tariffs discovered through a competitive bidding process seven to eight years back are considerably higher than the current tariffs.

The Minister said that the power purchase agreements (PPAs) that were signed earlier with tariffs in the range of ₹7 (~$0.094)/kWh to ₹8 (~$0.11)/kWh are much higher than the cost for solar power now, which touched a low of ₹1.99 (~$0.027)/kWh in the Gujarat Urja Vikas Nigam Limited’s auction for the 500 MW of solar projects.

Punjab – Utility-scale Solar Projects by Status (MW)
According to Mercom India Solar Project Tracker, over 800 MW of large-scale solar projects are operational in Punjab, and about 440 MW tendered pending auctions. The tariffs for the projects in operation range from ₹5.62 ($0.075)/kWh to ₹8.74 ($0.12)/kWh.

Speaking to Mercom, a senior executive at a leading solar developer with projects in Punjab, said, “It’s just not right to renegotiate the tariffs now. The Punjab State Power Corporation Limited (PSPCL) had signed the PPAs with the developers at tariffs discovered through a competitive bidding process. Now, they cannot revisit the tariffs and reduce them as it would hurt the developers and create a sense of uncertainty. It will be a disaster. It would not be permissible under any law. This move would have a negative impact on the investor sentiments and would affect the investor community in a big way. The renegotiation of tariffs is not in the hands of the state government and they cannot change it whenever they like. We have projects in Punjab, and if this happens, we would raise the issue at different forums and see what happens. But I feel it’s not going to materialize.”

This is not the first time a state government has tried to renegotiate tariffs and taken a relook at the PPAs signed earlier.

In 2019, immediately after assuming office, Chief Minister of Andhra Pradesh YS Jaganmohan Reddy announced that the government would review the PPAs signed between the state’s DISCOMs and power generators. The decision had alarmed power producers, investors, policymakers, and legal experts. The state has paid no heed to the centers warning against such an action. After the developers went to Court to resolve this issue, the High Court directed the DISCOMs to pay the monthly bills at ₹2.44 (~$0.033)/kWh for solar power and ₹2.43 (~$0.033)/kWh for wind. But the generators are still filing affidavits in the Court for the payments due.

Responding to the renegotiation talks, another developer with operating projects in Punjab said, “the developers have not received any official communication from the distribution company. Most states have been reviewing older PPAs, especially during election times. They also want to create this stress in the industry, knowing fully well they cannot justify their actions legally.”

Sharing his views on this new development, Aditya K Singh, Associate Partner at Link Legal, said that this step would be against the provisions of the Electricity Act, 2003.

“Even if the subject governing electricity is in the concurrent list, the state government does not have the competence to legislate when there is a central statute on the subject. As the Central Electricity Act, 2003 is in place, the state cannot legislate on this or issue directions. The actions of the state government cannot be contrary to the Central Act. The Electricity Act is a complete code in itself, and its power under Sections 61 and 62 of determining tariffs has been validly exercised,” he said.

Source Link: https://mercomindia.com/punjab-goes-the-andhra-way/

India Aims to Become Carbon Neutral by 2070, Sets 500 GW Non-Fossil Energy Target for 2030

India Aims to Become Carbon Neutral by 2070, Sets 500 GW Non-Fossil Energy Target for 2030

Last Updated: NOVEMBER 02, 2021

India aims to become a net-zero economy by 2070 and has set a target of installing a non-fossil energy capacity of 500 GW by 2030, Prime Minister Narendra Modi said at the COP26 Summit in Glasgow, Scotland.

The prime minister said India would meet 50% of its electricity requirements from renewable energy by 2030.

India would reduce 1 billion tons of carbon emissions from now onwards until the end of the decade. He said that the country would also reduce its economy’s carbon intensity by less than 45% by 2030.

Modi said that India expects developed countries to provide $1 trillion of climate finance at the earliest. He told the summit that India had the fourth-largest installed renewable capacity to date. Its non-fossil fuel energy had increased by over 25% in the last seven years and reached 40% of its overall energy mix.

India also aims to make its railway network a net-zero carbon emitter by 2030. This will lead to a reduction of 60 million tons of carbon emissions annually. Similarly, the country’s light-emitting diode (LED) bulb campaign reduces 40 million tons of carbon dioxide emission annually.

At COP26, U.K. Prime Minister Boris Johnson launched the Clean Green Initiative. He said that the U.K. would provide £3 billion (~$4.09 billion) in climate financing for green growth in developing countries over the next five years, including £200 million (~$273.14 million) for a new Climate Innovation Facility.

The U.K. would also provide an ‘India Green Guarantee’ to the World Bank, unlocking an additional £750 million (~$1 billion) for green projects in India. The funding supports clean and resilient infrastructure in sectors like clean energy, transport, and urban development.

In August this year, India’s installed renewable energy capacity crossed the 100 GW milestone. This excludes large hydropower projects.

According to Mercom’s Q2 2021 India Solar Market Update, India added 4.57 GW of solar capacity in the first half (1H) of 2021, a 251% year-over-year growth. The country’s cumulative solar capacity stood at 43.6 GW at the end of June 2021.

India’s installed renewable energy (including large hydro projects) capacity stood at 143.9 GW, accounting for a share of 37.4% in the overall power mix at the end of Q2 2021, according to preliminary data from the Central Electricity Authority (CEA), Ministry of New and Renewable Energy (MNRE) and Mercom’s India Solar Project Tracker.

To achieve 300 GW capacity by 2030, India needs to install 28 G.W. of new solar capacity annually from 2022 onwards, three times higher than the capacity installed in any given year. Solar developers believe that India needs to have clear execution plans, long-term policy stability, and financial infrastructure to achieve its target of 300 GW solar capacity by 2030.

Source Link: https://mercomindia.com/india-become-carbon-neutral-2070/