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Ambuja Cements partners with Finland-based Coolbrook to reduce fossil fuel dependance
Adani's Ambuja Cements has partnered with Coolbrook from Finland to use zero-carbon heating technology in its cement manufacturing. This partnership aims to reduce fossil fuel dependency and carbon emissions. Ambuja Cements will adopt Coolbrook's RotoDynamic Heater technology, which uses mechanical energy for high temperatures, enhancing sustainability and efficiency in their operations.
Vedanta shares tumble over 1% as subsidiary partners with GAIL Gas for sustainable aluminium production
Vedanta Aluminium, India's largest aluminium producer, has partnered with GAIL Gas to secure natural gas supplies for its Jharsuguda smelter. This five-year contract will see GAIL Gas construct a 7.5 km pipeline to deliver around 32,000 SCM of natural gas daily, reducing carbon emissions and boosting production at the world's largest aluminium plant.
Pollution Level: More trees won't cancel out your SUV emissions
Scientists are raising the alarm about the over-reliance on natural carbon sinks to achieve net-zero emissions. They argue that this approach, while stabilizing atmospheric CO2, won't stop global warming and allows continued fossil fuel use. The solution, they say, lies in 'Geological Net Zero,' which emphasizes permanent carbon storage and reduces dependence on finite natural resources.
TotalEnergies, Oil India to collaborate on methane emissions detection
TotalEnergies and Oil India Ltd (OIL) partnered to detect and measure methane emissions at OIL's sites using TotalEnergies' AUSEA technology. This collaboration aligns with the Oil and Gas Decarbonization Charter, which both companies support, aiming for near-zero methane emissions by 2030. AUSEA, a drone-mounted gas analyzer, represents a significant advancement in emissions detection and measurement accuracy.
India's roadmap to doubling energy efficiency: A key to achieving net-zero emissions by 2070
India is committed to doubling energy efficiency to achieve its climate goals, including reducing carbon intensity by 45% and GHG emissions by 1 billion tonnes by 2030. The nation champions sustainable progress through improved energy efficiency, renewable energy integration, and innovative technologies for cleaner energy systems. Collaboration, financing, and supportive policies are crucial for success.
SP Group aims to repay Rs 7,300 cr to Debenture Holders
Shapoorji Pallonji Group entity Goswami Infratech is set to repay ?7,300 crore to debenture holders this week, halving its outstanding debt from a ?14,300 crore issuance in May 2023. The repayment will be funded by proceeds from the recent IPO of Afcons and the sale of Gopalpur Ports to the Adani group.
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Regulatory framework for methanol economy is in works: VK Saraswat
Addressing the media ahead of the two-day International Methanol Seminar & Expo on October 17-18, NITI Aayog¡¯s member VK Saraswat said the government will soon put in place a regulatory mechanism to aid production, transportation and storage of methanol as it focuses on enhancing production of alternative fuels. The move is aimed at helping India reduce dependence on fossil fuels, save on cost and substantially reduce emissions as the country targets to be Net Zero by 2070, he said.
REI Expo saw Rs 1,850-cr investments committed for biogas sector: IBA
Investments worth Rs 1,850 crore have been committed to India's biogas sector during the Renewable Energy India Expo 2024. The event featured 47 exhibitors from 10 countries, highlighting international interest from nations such as Germany, Sweden, and the UK. MoUs and LoIs were signed to establish compressed biogas plants in India.
BPCL and Mumbai Port Authority to launch India's first green fuel ecosystem
BPCL partners with Mumbai Port Authority and Mumbai Port Sustainability Foundation to set up EV charging stations and convert diesel vessels to cleaner fuels, aiming for sustainable maritime operations. The collaboration includes waste management initiatives to enhance environmental responsibility and reduce the port¡¯s carbon footprint.
Adani group, Google collaborate for clean energy in India
Adani and Google have joined hands for clean energy in India. Adani will provide clean power to Google from its solar-wind hybrid energy plant. This collaboration supports Google's carbon-free energy goal. Adani aims for net-zero emissions with plans like powered port operations and green hydrogen hubs. Both companies target sustainability by 2050.
BPCL, Mumbai Port Authority sign pact to establish sustainable energy ecosystem
BPCL, Mumbai Port Authority, and Mumbai Port Sustainability Foundation have partnered to create a green fuel ecosystem at Mumbai Port. This initiative includes setting up EV charging stations, converting diesel vessels to cleaner fuels, and enhancing waste management. The collaboration aims to support India¡¯s environmental goals by reducing greenhouse gas emissions.
IBA expects to attract Rs 1,600 cr investment for biogas sector at REI 2024
The Indian Biogas Association anticipates Rs 1,600 crore investment in the biogas sector during the Renewable Energy India Expo 2024. The event, starting Thursday, is expected to see a 20% increase in participation and will highlight biogas's potential in India's energy future. Government ministries and prominent organizations are supporting the expo, which aims to boost renewable energy innovations.
Adani Green Energy, Adani Energy Solutions join UNEZA
Adani Green Energy and Adani Energy Solutions have joined the Utilities for Net Zero Alliance, established at COP28. This alliance unites global utilities to promote renewable energy and electrification. AGEL will focus on clean power and energy efficiency, while AESL aims to develop reliable grid infrastructure. Both companies target net zero emissions by 2050.
JBM Ecolife Mobility secures USD 100 mn funding from ADB, AIIB for electric bus expansion
JBM Ecolife Mobility has secured USD 100 million in funding from the Asian Development Bank and the Asian Infrastructure Investment Bank. The funds will be used to supply and operate electric buses across multiple Indian states under the Gross Cost Contract model, supporting India's Net Zero 2070 target.
'Green future' and 'net zero carbon' not just fancy terms, they are commitments: PM Modi
Prime Minister Narendra Modi emphasized India's commitment to achieving net zero carbon and becoming a leading producer of renewable energy. Speaking at the 4th Global Invest Renewable Energy Investors' Meet in Gandhinagar, he highlighted India's goal of becoming a developed nation by 2047 and noted that India was the first G20 nation to fulfill the Paris Agreement ahead of the 2030 deadline.
'Renewable energy to power India's economic growth'
India aims to achieve net-zero carbon emissions by 2070, focusing on renewable energy expansion. The country plans to reach 500 GW of non-fossil fuel energy capacity by 2030, with significant investments and international partnerships. Initiatives like the International Solar Alliance and various government schemes support this ambitious goal.
NLCIL to invest Rs 50,000 cr to ramp up renewable capacity
NLC India Ltd will invest Rs 50,000 crore to increase its renewable energy capacity from 1.43 GW to 10.11 GW. Through its subsidiary NLC India Green Energy Limited, the company aims for a 50% renewable energy mix by 2030 and supports India's net zero emissions target by 2070.
India power emissions must peak by 2026 to meet Paris pact
India's power industry emissions must peak by 2026 to achieve net zero by mid-century, according to BloombergNEF. However, the government's push for coal usage makes this target unlikely. India needs $12.4 trillion in investment for clean energy, electric vehicles, and new technologies like carbon capture and green hydrogen.
Hotels in India move ahead of global peers in sustainability goals
Top hotel chains in India are setting high sustainability goals, with targets like 100% green certified buildings and significant reductions in plastic waste. The hospitality industry is embracing renewable energy and innovative technologies, driving sustainability efforts ahead of global peers, thereby creating a more environmentally friendly travel experience.
Growing real estate sector can give a boost to green building segment: Johnson Controls
The green building market in India generated $29.2 billion in 2022, with a 7.5% CAGR from 2017 to 2022. However, a lack of awareness about the tangible benefits of green buildings is a challenge, says Arun Awasthy, President and Managing Director of Johnson Controls India.
India¡¯s Green Hydrogen Push: What the government must focus on following the Union Budget
The 2024 Union Budget of India designated INR 600 crore to the National Green Hydrogen Mission, aiming to enhance green hydrogen production. Key focuses include demand creation, de-risking finance, and equitable resource use. The Mission aspires to reach a production capacity of 5 million metric tonnes per year by 2030, with significant incentives for domestic electrolyzer manufacturing.
BPCL plans Rs 1.7 lakh cr spend to expand core biz, new energy foray
Bharat Petroleum Corporation Ltd plans to invest Rs 1.7 lakh crore over the next five years to expand its oil refining and fuel marketing businesses and venture into petrochemicals and green energy. The initiative, named Project Aspire, aims for substantial growth and supports India¡¯s energy transition goals, targeting net-zero carbon emissions by 2040.
Aiming to achieve net zero emission in railways by 2030: PM Modi
Prime Minister Narendra Modi stated the government's target to achieve net zero emissions in rail operations by 2030. Railway Minister Ashwini Vaishnaw detailed efforts like transitioning from diesel to electric traction and procuring renewable energy. An MoU with USAID/India was signed for support in clean energy planning and implementation.
Why almost nobody is buying Green Hydrogen
Despite the hype surrounding hydrogen as a clean energy source, most of the planned 1,600 projects lack committed buyers. Only a minority have secured firm purchase agreements. Analysts advised that successful projects should align with customers and have integrated clean energy sources. Some ventures, like Hy Stor¡¯s Mississippi project, followed this model.
Reliance Industries to commission first solar giga-factory in FY25
Reliance Industries Ltd announced its intent to commission its first solar giga-factory within the current fiscal year, planning an initial 20GW solar PV capacity by end of 2024-25. This would be part of efforts to reach net zero carbon emissions by 2035, involving facilities for renewables and battery storage, aiming at reducing import reliance.
A giant carbon dump gives glimpse into net-zero future
In theory, carbon capture and storage, or CCS, offers the ultimate climate hedge for fossil fuel producers, albeit at a cost of perhaps $10 trillion through 2050.
JSW Steel to spend $1 billion on decarbonisation, aims net neutral by 2050
In its first phase by 2030, the country¡¯s largest steel-maker intends to cut its emissions to 1.95 tonnes of CO2 for every tonne of steel produced. Its currently emits 2.36 tonne of CO2 for a tonne of steel.
India to spend up to $385 bln to meet renewable energy target, Moody's Ratings estimates
India needs $385 billion for 500 GW renewable energy by 2030. Coal remains key for next decade. Adani Group plans to generate 45 GW of renewable power by 2030 to support India's transition to net-zero by 2070.
IIFCL aims to be zero net NPA financial institution during FY25, says MD Jaishankar
IIFCL, the state-owned infrastructure financing firm, anticipates a loan growth of approximately 18% and targets reducing net non-performing assets (NPAs) to zero in the current fiscal year. Gross NPAs at India Infrastructure Finance Company Ltd (IIFCL) decreased to 1.61% in FY24 from 4.76% in the previous year.
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