EQ Magazine October 2022

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HEAD SALES & MARKETING MUKUL HARODE sales@EQmag.net

Gautam Solar is a 25+ yrs. experienced Solar Module Manufacturer with 250 MW Solar Module manufacturing capacity, expanding to 1 GW. It manufactures ALMM & BIS approved Solar PV Modules that are deployed in Utility & Rooftop Solar Power plants. It has various IP’s (Patents/ Design Registrations) and a well-equipped R&D centre for continuous development of new products.

EQ & EKI ENTER INTO 50:50 JV TO LAUNCH MARKET PLACE FOR CLIMATE FINANCE & PROJECTS

AND CLIMATE EDTECH VENTURE

The joint venture entity will be incorporated as “ClimaCool Projects & EduTech Ltd.”

Enters into a 50:50 partnership with First Source Energy India Pvt. Ltd. and its promoter to launch India’s first ever Climate EdTech as well as Climate Finance Marketplace.

The entity will drive focused educational initiatives while also mobilizing funds from global markets for sustainable climate projects across the globe

The entity will drive focused initiatives for community enabling weaker sections of the society to access clean technologies that are also energy efficient like green cooking through Improved Cook Stoves (ICS), water filters and LED Bulbs in re mote locations globally

The entity will also offer professional training, education and certificate courses on climate change and sustainability with specialization across a range of climate subjects including carbon market, carbon accounting, carbon credits, climate finance, renewable energy, electric vehicle, green hydrogen, ESG, net-zero amongst others

Leadingdeveloper and supplier of carbon credits across the globe – EKI Energy Services Ltd., announced that it has joined hands with a leading energy and environmen tal professional firm – First Source Energy India Pvt. Ltd. and its promoter and promoter group, to establish a firstof-its kind joint venture that will play a pivotal role in India’s climate change industry as the country’s first ever Climate EdTech as well as Climate Finance Marketplace. The joint venture will be named – Cli maCool Projects & EduTech Ltd. and it will facilitate mobilization of funds to drive investments for strategic climate interventions like –community based projects, sustainability and renewable energy proj ects amongst others across the globe. With a deep focus on developing a strong talent pool for the country’s rapidly growing climate change industry, the joint venture will drive focused educational initiatives and offer specialized courses across a range of climate subjects in cluding carbon market, carbon accounting, carbon credits, climate fi nance, renewable energy, electric vehicle, green hydrogen, ESG, netzero amongst others. With a deep focus on community development, the entity will develop projects that will enable rural homes with easy access to basic home needs like cooking solutions, drinking water and lighting solutions that are climate friendly technological advance ments. These projects will also strengthen the backward integration of carbon credit supply chain with high quality credits with its GHG (Greenhouse Gases) mitigation capabilities.

Mr. Manish Kumar Dabkara, Chairman & MD, EKI Energy Services Ltd. said, “As the world continues to speedily progress to wards a carbon neutral future, there is an urgent need to develop skilled talent with specialized expertise on climate change. We want to help bridge this gap while also encouraging more and more people to adopt climate change as a career of choice. In line with this, we are delighted to launch our new venture that will help us to rope the best from the global academia industry to drive the creation of a strong climate talent pool at global level. The venture will also help us to establish carbon finance marketplace to mo bilize funds from global markets for investments in strategic climate mitigation projects across the world.”

Mr. Anand Gupta, CMD & CEO, First Source Energy India Pvt. Ltd. said “As the Climate Change Movement is propelling the transition to net zero economy faster than ever, we are very excited to have this joint venture with EKI Energy Services Ltd. and create a marketplace to drive fi nance and investments in commu nity based projects, sustainability, renewable energy etc. and also to form an EdTech Platform to serve corporates / profession als / students with courses for training and development in the Climate Change Sector”.

The venture will organize EdTech events, workshops and webinars in close consultation with industry leaders and experts to drive focused educational initiatives for professional training and capacity building. The joint venture will provide a platform to aggregate climate dedicated funds from the global market for investments across energy efficient projects. EKI Energy Services Ltd. is an Indore based carbon credit expert company that has been working in the realm of climate action and offset solutions since the last 14+ years. The Company is now also a key member of a strategic alliance of the industry best experts from the realm of carbon credit and climate change industry in India, namely – Carbon Markets Association of India. With a presence in 16+ countries, EKIESL is also the first ever company to list a Plastic Project from India with Verra – a global accreditation standard located in Washington, USA. EKI will soon become the first ever to generate International Plastic Credits for collecting and recycling plastic wastes in the country through the project.

Growatt announces the launch of an Amazon store for their powerful solar generator & solar panels that harness endless power to light up the future of mankind

Growatt, a global leading new energy brand, debuted Infinity 1500 on Amazon yesterday, with special launch deals to mark the occasion. Customers who purchase Infinity 1500 will enjoy a discount which was officially unveiled at Amazon on 2nd Nov. 0:00 (PST).

The discount will be valid from 2nd to 16th. With a coupon of up to $500 off and a 20% special promo code, Infinity 1500 will be available at $1499 on Growatt Amazon.com: https://www.amazon.com/ dp/B0BL2C45M8. As a portable energy storage series complement to Growatt’s traditional installed solu tions, Infinity 1500 features a 1512Wh capacity and 12 ver satile outlets that allow users to power most devices. Owing to bi-directional inverter technology, it has a lightning-fast 2-hour wall charging speed. Its exceptional 800W solar input and 99% MPPT efficiency enable it to fully utilize the sun light to achieve 2.5 hours of solar charging. Weighting only 16.5kg, it’s lighter than other similar-capacity rival products for greater portability. Other features like UPS and smart APP control are made to match more scenarios. Infinity 1500 can be purchased standalone from Amazon, while bundles including Growatt 100W/200W portable solar panels are also available – Covering whole needs for long-term outages and off-grid liv ing.

New product line aims to give end users greater energy independence in the face of rising green energy needs in various scenarios. We’ve been seeking a way to better understand and serve our users, as well as a more direct approach to connecting with them. An Amazon store could be the answer, said Lisa Zhang, Vice Presi dent of Marketing at Growatt.

To celebrate the launch of the US Amazon Store, Growatt provides an exclusive offer of up to 40% off to help our users enjoy reliable and sustain able energy solutions from the brand. In addition, customers who purchase Infinity 1500 will also get a 100W solar panel, retailing at $240, for free.

GOLDI SOLAR ANNOUNCES ENTRY INTO THE HJT TECHNOLOGY ALONG WITH A CAPACITY EXPANSION ROADMAP

BY 2025

Goldi is the first Indian manufacturer to announce a 710 Wp module based on the latest HJT technology.

To infuse over INR 5,000 crores as a part of its business expansion plans.

Planned cell manufacturing facility in Gujarat, by 2023; subsequent scale-up capacity to 5 GW.

To increase module manufacturing from 2.5 GW to 6 GW.

Ramping up of workforce to 5,500+ across functions.

The new energy business expansion will be channelled into auxiliary production, including aluminium frame, junction box, backsheet, etc.

Goldi Solar, India’s most quality-conscious solar brand, announced plans to infuse over INR 5,000 crores as a part of its business expansion plans. Simultaneously, it also unveiled its new and landmark product offering HELOC® Plus, a highefficiency and low on carbon module series with Heterojunction technolog

Solar aims to become an end-to-end and vertically integrated company with module, cell and raw material manufacturing capabilities. Ac cordingly, it plans to commence production at its cell manufacturing unit in Gujarat Subsequently, it will expand its capacity to 5GW Additionally, Goldi Solar plans to recruit over 4,500 people across various functions, which will increase its workforce to 5,500+ including the exist ing workforce.

Goldi

Commenting on the key signifi cant developments, Captain Ishver Dholakiya - Managing Director of Goldi Solar, said, “to create employ ment at the grass roots level, Goldi Solar plans to hire 25% of the work force from the local tribal regions adjoining its proposed manufacturing facility. To train the new recruits for a career in renewables, Goldi Solar will conduct three-month certification programmes at a skill development centre that it plans to open in collaboration with the NSDC (National Skill Development Council) in Navsari, Gujarat.”

He further added, “Renewables are the future of energy. Our future plans of launching a new product line and expanding capacity for module manufacturing is designed to increase the supply of clean energy and motivate its large-scale replacement of fossil fuel. At Goldi Solar, we have committed to the honourable Prime Minister’s vision of Atmanirbhar Bharat and aspire to create an India self-reliant in renewable energy.”

Additionally, Mr Bharat Bhut - Director, Goldi Solar said, “Goldi Solar has consistently created and delivered quality modules. Our mantra is to provide better and more efficient products. In accordance with our quality ethos, we intend to form a dedicated product development and R&D team, which will accelerate the creation of high-efficiency models. Goldi is the first Indian manufacturer to announce a 710 Wp module based on the latest HJT technology, and we are confident that our latest offering HELOC̣® Plus, will be a game-changer in the industry.”

Hardip Singh, President & Global Head, Sales & Marketing, Goldi Solar added, “Our credo of ‘Ghar Ghar Goldi, Har Ghar Goldi”, testifies to our ambitions of making Goldi Solar a mass brand in India. Currently, we operate in the segments of IPP, C&I, EPC, exports and manufacturing. Our focus on India’s domestic consumer market has enabled us to register a presence in the key Indian cities. We are confident of increasing our presence with the proposed capacity expansion exercise. Our future roadmap is a key step towards enabling every Indian to participate in an impending renewable revolution.”

ASIA CLIMATE SUMMIT

6-8 December 2022 Republic of Singapore

Carbon Markets for Net Zero - Asia's Largest Carbon Markets Event is Back!

Everything you need to know about Carbon Markets in Asia in 3 days!

Held in a hybrid format with both in-person and virtual offerings, this edition of IETA’s led Asian summit, brings together leading private sector experts and policymakers from both the carbon and energy world to discuss and analyze the current state of play, and what’s next for compliance and voluntary markets

More information:

Speaking and partner sponsor opportunities, contact Lisa Spafford, spafford@ieta.org Attending as a delegate, contact Awa Antille, antille@ieta.org

Organised by

Hosted by

fers, which are also used to create computer processors. Monocrystalline (mono), which is created using the well-known Czochralski process, is the most effective type. Compared to polycrystalline (poly), this process requires more energy, which raises the cost of production. Contrarily, polycrystalline wafers are made using several purification procedures, followed by a less complicated, more affordable casting process, and are marginally less effective.

SOLAR CELL MANUFACTURING

• In an arc furnace, silica sand is refined to produce 99% pure silicon.

• Nearly 100% pure silicon is created by further refining the 99% silicon.

• Silicon is doped with phosphorous or boron (P-type or N-type).

• The doped silicon is extracted into a crystalline ingot after it has been melted.

• Diamond wire is used to cut the round ingot into tiny square wafers.

• The PN-junction is created by coating the thin base wafer with an in credibly thin layer of either P-type silicon or N-type silicon.

• The cell surface is enhanced with metallic fingers and an anti-reflective layer.

• Bus bars made of thin wire (MBB) or flat ribbons are added.

Now, these solar cells will be used to make solar modules. The six essential parts that make up a solar panel are as sembled precisely in state-of-the-art manufacturing facilities.

glass is also much safer than regular glass in the event of an accident or significant impact because it shatters into tiny frag ments rather than sharp, jagged pieces. Most manufacturers use high transmissive glass, which has a very low iron content and an anti-reflective coating on the backside to reduce losses and improve light transmission, to increase efficiency and perfor mance.

Aluminium Frame: In order, to mount the solar panel in place and to protect the edge of the laminated section housing the cells, the aluminium frame plays a crucial role. The extruded aluminium sections are made to be incredibly stiff, lightweight, and able to withstand high wind and other external forces. De pending on the manufacturer of the panel, the corner sections can be screwed, pressed, or clamped together to provide vary ing degrees of strength and stiffness. The aluminium frame can be either silver or black after being anodized.

EVA Film: The name "EVA" stands for "ethylene vinyl ace tate," a specially created, highly transparent polymer (plastic) layer that is used to enclose the cells and hold them in place dur ing manufacturing. The EVA material must be extremely tough and tolerant of high temperatures and humidity levels; limit ing the ingress of moisture and dirt, contributes significantly to long-term performance. The PV cells' two layers of lamina tion help to cushion shocks and protect the cells' interconnect ing wires from vibrations and the sudden impact of hailstones and other objects. A high-quality EVA film with a high level of "cross-linking" could make the difference between a panel fail ing from water infiltration and having a long lifespan.

Solar Cell: Solar PV cells convert sunlight into direct current (DC) elec tricity. The characteristics of the silicon used and the type of cell used, with monocrystalline and polycrystalline silicon being the two main types, determine the performance of the solar panel. A very thin wafer, typically 0.1mm thick, that is either positive p-type silicon or negative n-type silicon serves as the foundation of the photovoltaic cell. Half-cut or 1/3rd or split cells, multi-bus bar (MBB) cells, and more recently shingled cells using thin, overlapping wafer strips are just a few of the many different cell sizes and configurations that are available and offer various levels of efficiency and performance.

Toughened Glass: The PV cells are shielded by the front glass sheet from the elements including hail and airborne debris. The glass is typi cally high-strength tempered glass, which is 2 to 4 mm thick and made to withstand extreme temperature changes as well as mechanical loads.

Back sheet: The back sheet, which serves as a moisture bar rier and final external skin to provide mechanical protection and electrical insulation, is the layer at the back of typical so lar panels. Different polymers or plastics, such as PP, PET, and PVF, are used to make the back sheet material. These materi als provide varying degrees of protection, thermal stability, and long-term UV resistance. Depending on the manufacturer and module, the back sheet can be black or transparent in addition to its usual colour of white.

Junction Box: On the back side of the panel, there is a small weatherproof enclosure called as junction box. The cables needed to connect the panels must be fastened firmly. The junc tion box is crucial because it serves as the hub where all cell sets connect and as such, it needs to be shielded from moisture and debris.

Author Mr. Sanjeev Gupta Plant Head Navitas Solar

3 ESSENTIALS FOR INTEGRATED URBAN CLIMATE ACTION

At the 2021 UN Climate Change Conference (COP26), more than 1,100 cities representing a quarter of global CO2 emissions signed up to the Cities Race to Zero. In doing so, they committed to ambitious, inclusive and equitable climate action to hold global temperature increase to 1.5 degrees C (2.7 degrees F). At COP27 next month, these cities will be expected to demonstrate progress and explain how they plan to deliver on their commitments.

Withcities accounting for up to 70% of global CO2 emissions and urban areas being especially exposed to the impacts of cli mate change, city action is criti cal to achieving an inclusive, resilient, zero-carbon and nature-focused future, especially in the context of the current global energy crisis. Fortunately, cit ies are uniquely positioned to drive just the kind of ambitious climate action that scientists say is needed. By using existing technologies and policy options across buildings, transportation, materials and waste, research shows cities can reduce emissions by 90% by 2050. At the same time, transitioning to low-car bon and resilient infrastructure can improve quality of life, health, and access to economic opportunities of the most vulnerable populations by bridging the “urban services divide.”

To help cities on their journey, we propose three essentials to advancing climate action in cities:

1. MAKE CLIMATE ACTION ABOUT PEOPLE

Cities need to balance a wide range of competing pri orities. For many, issues such as public health, hous ing and economic growth rank above climate change in the concerns of most citizens and local authorities. Traditional climate mitigation and adaptation entry points are often insufficient in persuading cities to take action at the scale and pace necessary. To suc ceed and provide new motivations to act, cities need to make connections between their wider environ mental, social and economic goals and climate action — a concept we refer to as “integrated climate action.” Integrated climate action begins with integrated planning, which actively seeks out synergies between mitigation and adaptation goals and other local priori ties such as economic growth, clean air, energy secu rity, housing, access to services, etc. These synergies aren’t hard to find. Climate change is inextricably linked to tackling social and economic inequalities. Our research shows how closing the urban services divide —reducing

inequalities city residents’ abilities to access de cent housing, clean water, sewer systems, electric ity, transport and jobs — can be one of the most powerful entry points for advancing ambitious cli mate action. Cities around the world are already leading the way. For example, Metropolitan Area of Guadalajara Climate Action Plan (CAP) shows how climate action can drive cross-sectoral col laboration across jurisdictions. All nine of Gua dalajara’s metropolitan municipalities committed to a achieve net-zero emissions while addressing social and spatial inequalities through metro-level projects, such as a new 42-kilometer Bus Rapid Transit (BRT) line. The project prioritizes giving the area’s most vulnerable groups access to pub lic transport and improved air quality. Similarly, in Mumbai, where 50% of the population lives in informal settlements, the city’s Climate Action Plan aims to increase poor households’ access to climate-resilient housing, green spaces, cooling and health centers to jointly tackle emissions, heatrelated risks and socio-spatial inequalities.

2. GET READY FOR INTEGRATED IMPLEMENTATION

Incremental mitigation and adaptation projects advanced in isolation, under sectoral silos, will be insufficient. Cities’ need a whole-system approach that unlocks collaboration across sectors and insti tutional boundaries, effectively embedding climate goals in all key decision-making for a — such as strategic, land use and budgetary planning. For example, Rio de Janeiro, Brazil embedded targets from its Sustainable Development and Climate Action Plan in its current five-year strategic plan (2021-2024). By doing so, the current city admin istration ensures that climate action is implemented in a cross-cutting way across multiple city depart ments — everything from health care to ecosystem services management to innovation and green jobs. It also ensures budget is allocated appropriately for climate action implementation.

Land use planning is oftentimes one of the most powerful policy instruments cities have at their disposal for imple menting transformative climate action. Victoria Gasteiz, Spain, for example, prioritizes community engagement, compact land use, sustainable mobility, and public and green spaces in its land use planning. These initiatives can simultaneously foster mitigation, adaptation and equity. With shifts from car travel to low-carbon mobility like bik ing and walking, the city’s CO2 emissions dropped by 42%. Promoting urban green spaces countered urban sprawl, in creased biodiversity, reduced pollution and urban heat is lands, and improved water management. Re-densification and rehabilitation of the city center has kept housing afford able and increased equitable access to urban services like public transport.

3. GET THE RIGHT PEOPLE TOGETHER

Local governments do not operate in isolation, and many of the levers to accelerate mitigation, increase climate resil ience and ensure equitable benefits lie beyond cities’ direct authority. Research from the Coalition for Urban Transitions estimates that 37% of urban mitigation potential requires collaborative action among national, state and city govern ments. Responding to the climate emergency requires an all-hands-on-deck approach, where cities actively collabo rate with regions, other cities, businesses and national poli cymakers to unlock investments for urban climate action while raising the bar for more ambitious climate action at the national level.

The Mexican Climate Community is an example of how sub-national governments can collaborate for zero-carbon develop ment.

This network of municipal-, state- and fed eral-level public servants promotes train ing, peer-to-peer exchange and tailored support on projects ranging from energy efficiency to nature-based solutions to lowcarbon transport. It also connects sub-na tional governments with the private sector to help achieve cities’ Race to Zero pledges. WRI’s Urban Water Resilience Initia tive is another example of the complex governance required for integrated climate action. Through this initiative, a coalition including research institutes, civil society actors, development agencies, national governments, businesses, private invest ment groups, national banks and consul tancies are tackling technical and financial barriers to improve water resilience in six cities in Ethiopia, Rwanda and South Afri ca. The initiative will soon launch the Afri can Cities Water Adaptation Fund (ACWA Fund) to support 100 African cities in fi nancing urban water resilience measures by 2032.

2021 SUPPORT FOR FOSSIL FUELS BY G-20 NATIONS REACHED

HIGHEST LEVEL SINCE 2014

BloombergNEF and Bloomberg Philanthropies report reveals G-20 member countries provided almost $700 billion in support for coal, oil, gas and fossil-fuel power in 2021 – up 16% from the year before.

The 19 individual country members of the G-20 provided $693 billion in fossil-fuel support in 2021, thereby slowing down progress on reach ing the goals of the Paris Agreement, according to a new report released by Bloomberg Philan thropies and BloombergNEF (BNEF). This quite substantial sum distorted prices, encouraged potentially wasteful use and production of fossil fuels, and resulted in investment in long-lived, emission-intensive equipment and infrastruc ture. The Climate Policy Factbook evaluates the progress made by each G-20 nation in three concrete policy areas: 1) phasing out support for fossil fuels, 2) putting a price on emissions, and 3) enforcing climate-risk disclosure. The re port aims to increase transparency and inform policy priorities ahead of the G-20 Summit in Indonesia and COP27 climate conference in Egypt, where much of the discussion will focus on how to realize the many pledges and targets announced at COP26 in Glasgow a year ago.

Michael R. Bloomberg, UN Secretary-General’s Special Envoy on Climate Ambition and Solutions and founder of Bloomberg LP and Bloomberg Philanthropies, said: “Governments continue to subsidize fossil fuels – undermining the pledges they’ve made, harming public health, and shrinking our chances of avoiding the worst impacts of climate change. We need to dramatically speed up the shift to clean energy and away from coal and other fossil fuels, and this report highlights some of the most important steps governments can take.”

The share of G-20 fossil-fuel support allocated to coal is slowly shrinking – from 4.1% in 2016, to 2.9% in 2021. But coal still at tracted a total of $20 billion of government support in 2021. This is surprising given that much of the effort to phase out fossil-fuel sup port has focused on coal, including pledges announced at recent G-20 summits and COP26. While 2021 estimates are provisional, they suggest fossil support spending surged 16%. This spike was not simply due to economic recovery and higher energy use as 2021’s total was 5% higher than 2016, a year in which energy use was approximately level. In fact, the 2021 increase was driven by a 16% increase in support to fossil-fuel producers and utilities.

“The G-20 and G-7 governments have announced a range of seem ingly more ambitious commitments to phase out fossil-fuel subsi dies,” said Victoria Cuming, head of global policy at BloombergNEF and lead author of the factbook. “But they always seem to include imprecise language and caveats, giving governments wiggle room to interpret these pledges as they wish. BNEF’s analysis shows that there seems to be little evidence of those countries delivering on their promises.”

At the national level, China may have accounted for the largest share (26%) of G-20 fossil-fuel support in 2020 (the latest year for which country-level data is available). But it is well below other G-20 members on a per-capita basis – at $111 in 2020 compared with, for example, Saudi Arabia ($1,433), Argentina ($734) and Canada ($512). It also scaled back this support by 12% over 2016-20, while Canada more than doubled fossilfuel support over that period. The US has the lowest per-capita total out of the G-20 (at $34 in 2020) but pro vided 57% more of such subsidies in 2020 relative to 2016. To effectively lead the phaseout of coal and other fossil fuels, G-20 countries must introduce a meaning ful carbon price, so that companies and consumers pay for their greenhouse-gas emissions. In total, 12 member countries of G-20 have nationwide carbon pricing. Eu rope and Canada remain G-20 leaders for robust carbon policies. In particular, prices are close to or far above the level needed to limit global warming to 2C above pre-industrial levels by the end of the century. The World Bank estimates this range to be $40-80 per metric ton by 2020 and $50-100 by 2030. The other G-20 coun tries with nationwide schemes have an average carbon price of $8/ton and the US, which has several state-level programs, has an average price of $9/ton. Most of these programs are less effective as they cover such a small share of national emissions or offer concessions that are too generous to participants.

The third priority area is to enforce climate-risk dis closure by companies and financial institutions. Policymakers are more loudly than ever voicing concern that climate change poses major risks to financial stability. However, out of the G-20 countries, only the EU and UK have passed laws or regulations to mandate specific, nationwide climate-risk disclo sure for investors, while the US has issued a propos al to take this step. Instead, most G-20 governments have only gone as far as launching pilot projects and issuing voluntary guidance documents. These may mark a change in rhetoric and help improve finan cial market participants’ capabilities without being too disruptive for current market practices. But this type of voluntary approach allows institutions to de lay action.

GAUTAM FREIGHT ANNOUNCES

COMMISSIONING OF 4.00MW SOLAR PLANT IN BHAVNAGAR

Gautam Freight Pvt Ltd is the flagship entity of Friends Group it offers pre mier shipping, logistics solutions & port service providers. The company is engaged in activities ranging from Stevedoring, Lighterage, Midstreaming, Cargo Handling, Dry Cargo Storage & Warehousing, Logistics, C&F, Agency, Vessel Owners.

With the growing interest in In dian green energy space, amid growing focus on environmental, social and governance (ESG) investing. At COP-26 summit in Glasgow, India announced its plans to increase non-fossil fuel power generation capacity to 500 GW by 2030. Businesses are resorting to clean energy source for the energy require ments boosting sustainability and savings.

IREDA LAUNCHES ‘COMPLAINTS PORTAL’ ON THE OCCASION OF VIGILANCE AWARENESS WEEK 2022

Indian Renewable Energy Development Agency Ltd. (IREDA), a PSU under the Ministry of New & Renewable Energy (MNRE), launched a ‘Complaints Portal’, as a part of ‘Vigilance Awareness Week 2022’, which is acces sible through IREDA website. The portal was launched by Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, in presence of Shri Chintan Shah, Director (Technical), Ms. Manisha Saxena, CVO, IREDA, and other senior officials.

Mr. Praveen Singhvi from Gautam Freight said, “We have commissioned a project of 4.00MW in Bhavnagar and the solar panels are sourced from Waaree Energies. The renewable energy produced in the newly constructed Solar Power Plant will generate over 5.8 million units of electricity, potentially mitigating over 6 lakh tonnes of carbon emission. This project is the testament of our success and we take pride in commissioning of this project that brings environmentally-friendly objectives.

The portal has been developed by IT Team of the company keeping in view the ease of access for making any com plaints related to IREDA’s working prac tices. The portal ensures transparency of complaints redressal with better mon itoring of all the complaints as received by IREDA.

Launching the portal, Shri Pradip Kumar Das, CMD, IREDA highlighted that the Complaints Portal is another crucial step in IREDA’s “Zero Toler ance” of corruption and enabling “Ease of Doing Business”. A WhistleBlower Portal was introduced by IREDA last year. Reiterating the Good and Clean Governance policy of the company, Shri Das said, “Rashtriya Ekta Diwas” is an appropriate occasion to launch this portal. Guided by the vision of the Hon’ble Prime Minister, it was decided in 2014 to celebrate the birth anniversary of Sardar Vallabhbhai Patel (the Iron Man of India) viz. 31st October as “Rashtriya Ekta Diwas”, to reinforce our dedication to preserving and strengthening the unity, integrity, and security of the nation.

Earlier in the day, CMD and Director (Technical), IREDA administered the Integrity Pledge to all employees of the company in presence of CVO and other Senior Manage ment to mark the beginning of ‘Vigilance Awareness Week 2022’. During the week-long Vigilance Awareness campaign (31st October to 7th November 2022), a number of activities will be carried out in line with the theme “Corruption free In dia for a developed Nation,” including conducting seminars, workshops, debate competitions, quiz among employees, and several activities for students.

BOUNDLESS ENVIRONMENT ADOPTS SUSTAINABLE ENERGY SOLUTIONS

A leader in specialized solutions related to renewable energy & wastewater management. A fully integrated EPC company working on a turnkey basis providing end to end handling of all engineering require ments by Utilizing the latest technology, applying proven engineering processes and leveraging a strong network of international and do mestic contacts and we provide a wealth of experience and expertise to our clientele.

Boundless Environment Resource Solutions commissioned a project of 2 MW in New Delhi. They chose Mono PERC solar panels of 445Wp from Waaree Energies and the project was financed by HDFC Bank on non-recourse basis.

NEED FOR INDIAN MODEL OF LOCALIZATION TO ACHIEVE SDGS 2030: NITI AAYOG VICE-CHAIRMAN

NITI Aayog Vice-chairman Suman Bery emphasized the need for the Indian model of localization to achieve Social Development Goals (SDGs) 2030 set by the United Nations.

No poverty, zero hunger, good health and well-being, quality education, gender equality, clean water and sanitation and affordable and clean energy are among the 17 SDGs.

Mr. Danish Goswami from Boundless Environment says, “We are committed to and invested in sustainability because it’s a win all around – it’s good for the planet, for business and for our communities. This project is helping our customer to meet its renewable energy goals and is on path to powering its operations with 100% renewable energy.

LONGI SHIPPED 30 GW+ SOLAR MODULES IN 9M/2022

Bery said the Indian model of SDG localization has four pillars: creating institutional ownership, establishing a robust review and monitoring system, developing capacities for integrating SDGs in planning and monitoring and promoting a “whole society approach”.

LONGi has shared its preliminary financial results for the period between January 2022 and September 2022.

It shipped over 60 GW of monocrystalline silicon wafers during the period.

Monocrystalline silicon solar PV modules shipped were a total of more than 30 GW.

Chinese vertically integrated solar PV manufacturer LONGi Green Energy Technology says it shipped over 30 GW worth of monocrystalline solar PV modules during 9M/2022, along with more than 60 GW of monocrystalline silicon wa fers, as per its preliminary fi nancial results. In a stock exchange announcement, the manufacturer said its Xixian Leye high efficiency monocrystalline cell project with 15 GW annual out put was energized in September 2022 . At the same time its new cell technology called Hybrid Passiv ated Back Contact (HPBC) entered mass produc tion stage.

While the company’s final financial report will pre vail once it is released, it shows the speed at which LONGi’s shipments are increasing. In H1/2022, it shipped 18.02 GW monocrystalline modules out of which 17.70 GW was sold externally. During H1/2022, its monocrystalline silicon wafer ship ments were a total of 39.62 GW, including 20.15 GW sold externally.

WORLD ENERGY OUTLOOK 2022 SHOWS THE GLOBAL ENERGY

CRISIS CAN BE A HISTORIC TURNING POINT TOWARD A CLEANER AND MORE SECURE FUTURE

For the first time, global demand for each of the fossil fuels shows a peak or plateau across all WEO scenarios, with Russian exports in particular fall ing significantly as the world energy order is reshaped

The global energy crisis trig gered by Russia’s invasion of Ukraine is causing profound and long-lasting changes that have the potential to hasten the transition to a more sustainable and secure energy system, ac cording to the latest edition of the IEA’s World Energy Out look. Today’s energy crisis is delivering a shock of unprecedented breadth and complexity. The big gest tremors have been felt in the markets for natu ral gas, coal and electricity – with significant turmoil in oil markets as well, necessitating two oil stock re leases of unparalleled scale by IEA member coun tries to avoid even more severe disruptions. With unrelenting geopolitical and economic concerns, energy markets remain extremely vulnerable, and the crisis is a reminder of the fragility and unsus tainability of the current global energy system, the World Energy Outlook 2022 (WEO) warns. The WEO’s analysis finds scant evidence to support claims from some quarters that climate policies and net zero commitments contributed to the run-up in energy prices. In the most affected regions, higher shares of renewables were correlated with lower electricity prices – and more efficient homes and electrified heat have provided an important buffer for some consumers, albeit far from enough. The heaviest burden is falling on poorer households where a larger share of income is spent on energy.

Alongside short-term measures to try to shield consumers from the impacts of the crisis, many gov ernments are now taking longer-term steps. Some are seeking to increase or diversify oil and gas sup plies, and many are looking to accelerate structural changes. The most notable responses include the US Inflation Reduction Act, the EU’s Fit for 55 pack age and REPowerEU, Japan’s Green Transforma tion (GX) programme, Korea’s aim to increase the share of nuclear and renewables in its energy mix, and ambitious clean energy targets in China and India. In the WEO’s Stated Policies Scenario, which is based on the latest policy settings worldwide, these new measures help propel global clean energy investment to more than USD 2 trillion a year by 2030, a rise of more than 50% from today. As markets rebalance in this scenario, the upside for coal from today’s crisis is temporary as renewables, supported by nuclear power, see sustained gains. As a result, a high point for global emissions is reached in 2025. At the same time, international energy markets undergo a profound reorientation in the 2020s as countries adjust to the rupture of Russia-Europe flows.

Energy markets and policies have changed as a result of Russia’s invasion of Ukraine, not just for the time being, but for decades to come, said IEA Executive Director Fatih Birol. “Even with today’s policy settings, the energy world is shifting dramatically before our eyes. Government responses around the world promise to make this a historic and definitive turning point towards a cleaner, more affordable and more secure energy system.”

For the first time ever, a WEO scenario based on today’s prevailing policy settings – in this case, the Stated Policies Scenario – has global demand for every fossil fuel exhibiting a peak or plateau. In this scenario, coal use falls back within the next few years, natural gas demand reaches a pla teau by the end of the decade, and rising sales of electric vehicles (EVs) mean that oil demand levels off in the mid-2030s before ebbing slightly to mid-century. This means that total demand for fossil fuels declines steadily from the mid-2020s to 2050 by an annual average roughly equivalent to the lifetime output of a large oil field. The declines are much faster and more pronounced in the WEO’s more climate-focused scenarios. Global fossil fuel use has grown alongside GDP since the start of the Industrial Revolution in the 18th century: putting this rise into reverse will be a pivotal moment in energy history. The share of fossil fuels in the global energy mix in the Stated Policies Scenario falls from around 80% to just above 60% by 2050. Global CO2 emissions fall back slowly from a high point of 37 billion tonnes per year to 32 billion tonnes by 2050. This would be associated with a rise of around 2.5 °C in global average temperatures by 2100, far from enough to avoid severe climate change impacts. Full achievement of all climate pledges would move the world towards safer ground, but there is still a large gap between today’s pledges and a stabilisation of the rise in global temperatures around 1.5 °C.

Today’s growth rates for deployment of solar PV, wind, EVs and batteries, if maintained, would lead to a much faster transfor mation than projected in the Stated Policies Scenario, although this would require supportive policies not just in the early lead ing markets for these technologies but across the world. Supply chains for some key technologies – including batteries, solar PV and electrolysers – are expanding at rates that support greater global ambition. If all announced manufacturing expansion plans for solar PV see the light of day, manufacturing capacity would exceed the deployment levels in the Announced Pledges Sce nario in 2030 by around 75%. In the case of electrolysers for hydrogen production, the potential excess of capacity of all an nounced projects is around 50%.

Stronger policies will be essential to drive the huge increase in energy investment that is needed to reduce the risks of future price spikes and volatility, according to this year’s WEO. Subdued investment due to lower prices in the 2015-2020 period made the energy sector much more vulnerable to the sort of disruptions we have seen in 2022. While clean energy investment rises above USD 2 trillion by 2030 in the States Policies Scenario, it would need to be above USD 4 trillion by the same date in the Net Zero Emissions by 2050 Scenario, highlighting the need to at tract new investors to the energy sector. And major international efforts are still urgently required to narrow the worrying divide in clean energy investment levels between advanced economies and emerging and developing economies.

“The environmental case for clean energy needed no rein forcement, but the economic arguments in favour of costcompetitive and affordable clean technologies are now stronger – and so too is the energy security case. Today’s alignment of economic, climate and security priorities has already started to move the dial towards a better outcome for the world’s people and for the planet,” Dr Birol said. “It is essential to bring everyone on board, especially at a time when geopolitical fractures on energy and climate are all the more visible,” he said. “This means redoubling efforts to ensure that a broad coalition of countries has a stake in the new energy economy. The journey to a more secure and sustainable energy system may not be a smooth one. But today’s crisis makes it crystal clear why we need to press ahead.”

Russia has been by far the world’s largest exporter of fos sil fuels, but its invasion of Ukraine is prompting a whole sale reorientation of global energy trade, leaving it with a much-diminished position. All Russia’s trade ties with Eu rope based on fossil fuels had ultimately been undercut in previous WEO scenarios by Europe’s net zero ambitions, but Russia’s ability to deliver at relatively low cost meant that it lost ground only gradually. Now the rupture has come with a speed that few imagined possible. Russian fossil fuel exports never return – in any of the scenarios in this year’s WEO – to the levels seen in 2021, with Russia’s reorienta tion to Asian markets particularly challenging in the case of natural gas. Russia’s share of internationally traded energy, which stood at close to 20% in 2021, falls to 13% in 2030 the Stated Policies Scenario, while the shares of both the United States and the Middle East rise.

For gas consumers, the upcoming Northern Hemisphere winter promises to be a perilous moment and a testing time for EU solidarity – and the winter of 2023-24 could be even tougher. But in the longer term, one of the effects of Russia’s recent actions is that the era of rapid growth in gas demand draws to a close. In the Stated Policies Scenario, the sce nario that sees the highest gas use, global demand rises by less than 5% between 2021 and 2030 and then remains flat through to 2050. Momentum behind gas in developing economies has slowed, notably in South and Southeast Asia, putting a dent in the credentials of gas as a transition fuel.

“Amid the major changes taking place, a new energy security paradigm is needed to ensure reliability and affordability while reducing emissions,” Dr Birol said. “That is why this year’s WEO provides 10 principles that can help guide policymakers through the period when declining fossil fuel and expanding clean energy systems co-exist, since both systems are required to function well during energy transitions in order to deliver the energy services needed by consumers. And as the world moves on from today’s energy crisis, it needs to avoid new vulnerabilities arising from high and volatile critical mineral prices or highly concentrated clean energy supply chains”

Source: iea

JAKSON GREEN TO DEVELOP US$ 2.8 BILLION GREEN AMMONIA AND GREEN HYDROGEN PROJECT IN RAJASTHAN

The plant proposed to be located at Kota shall be built in phases starting with a 15,000 tons per annum Green Ammonia facility by 2025.

Project to entail investment of INR 22,400 Crores, creating over 32,000 jobs over various stages of the project.

Jakson Green, the new energy transition platform backed by India headquartered Infrastructure and Renewables major – Jakson Group, has signed a Memorandum of Understanding (MOU) with the Gov ernment of Rajasthan to invest about INR 22,400 Crore in the State to set up a Green Hydrogen & Green Ammonia project in phases. The MoU was signed by Mr Vish Iyer, Global Chief Commercial Officer, Jakson Green and Shri Bhaskar S Sawant, Principal Secretary of Energy to Government of Rajasthan, in the presence of other key officials from both sides. Jakson Green will set up a 3,65,000 tons per annum Green Hydrogen & Green Am monia plant along with an integrated hybrid renewable power com plex in a phase wise manner. The project is expected to generate over 32,000 direct and indirect employment opportunities across various phases of the scale up, planned between 2023 and 2028. The Government of Rajasthan would facilitate Jakson Green in ob taining necessary registrations, approvals, clearances, and provide incentives, among others.

Calling the association, a significant milestone in the state’s green hydrogen progress, Shri Bikesh Ogra, Founding Promoter, Manag ing Director & CEO of Jakson Green said “We are extremely delighted to partner with the State of Rajasthan in developing one of the most realistically sized early green ammonia projects in the country. Given our strong focus on technology and execution, with a proven team that has delivered over 10GW of green energy assets across 26 countries, we are confident of delivering a state-of-the-art green ammonia and green hydrogen facility in Rajasthan. We truly appreciate the Government of Rajasthan for this partnership and for demonstrating their vision in positioning the state as a favoured green hydrogen hub by extending their utmost co-operation to our project.”

Speaking on the occasion, Shri Bhaskar S Sawant, Principal Secretary of Energy to Government of Rajasthan said, “It has been proved again that Rajasthan is the most ideal destina tion for investments in the new energy transition. This agreement with Jak son Green is further testimony to the state’s investor centric policies.”

Jakson Green has recently announced its global ambi tions to be a leading developer and integrator of green hydrogen and green ammonia assets across select ge ographies and is eyeing a play in the Independent Hydrogen & Ammonia Production and Electrolyser manu facturing space in line with Hon’ble Prime Minister Shri Narendra Modi’s vision of Atmanirbhar Bharat. The firm is actively developing a pipeline of renewable energy, green hydrogen and green ammonia projects, both in India and abroad.

DECARBONIZING INDIA: CHARTING A PATHWAY FOR SUSTAINABLE GROWTH

This will be a decisive decade. With intentional action, India can accelerate decarbonization at scale while pursuing economic growth.

t COP26, India announced its ambition to become a net-zero emitter by 2070—an im portant milestone in the fight against climate change. Despite low per-capita emissions (1.8 tons CO2), India is the third-largest emitter globally, emitting a net 2.9 gigatons of carbon-dioxide equivalent (GtCO2e) ev ery year as of 2019. The bulk of these emis sions (about 70 percent) are driven by six sectors: power, steel, automotive, aviation, cement, and agriculture.

In this report, we propose more than 100 decarbonization levers across these key sectors and take a deeper look at four cross-cutting decarbonization opportunities: green hydrogen; carbon capture, usage, and storage (CCUS); natural climate solutions; and material circularity. We modeled outcomes on India’s net-zero journey along two scenarios: first, the current line-of-sight (LoS) scenario with current (and announced) poli cies and foreseeable technology adoption; and second, the accelerated scenario with

far-reaching polices like carbon pricing and accel erated technology adoption, including technologies like CCUS. Our analysis shows that the benefits of a well-planned, orderly, accelerated transition could outweigh the downsides, given India’s growth outlook.

EIGHT IMPORTANT MESSAGES UNDERLIE THIS REPORT...

India has the potential to create 287 gigatons of carbon space for the world. This amounts to almost half of the global carbon budget for an even chance at limiting warm ing to 1.5°C. The current pace of emissions intensity reduc tion is insufficient for India’s emissions curve to bend with the expected growth outlook. In the LoS scenario, India could reduce annual emissions from a historical trajectory of 11.8 GtCO2e to 1.9 GtCO2e by 2070, a 90 percent reduc tion in economic emissions intensity compared with 2019. It can reach 0.4 GtCO2e by 2050 in the accelerated scenario (Exhibit 1), with a potential to get to its net-zero-by-2070 commitment through new technology developments (such as direct air capture) over the next few decades.

LoS scenario reductions are challenging, and the accelerated scenario reductions even more so. There are emerging tailwinds in the form of reducing costs of renewables and electric vehicles (EVs), and the progressive policies being implemented (for example, the implicit carbon tax on transportation fuels of $140 to $240/ton CO2e) are helping the electrification of mobil ity. Yet, several other actions with significant scale-up potential are needed (Exhibit 2). For example: renewable capacity addition needs to increase from ten gigawatts (GW) to 40–50 GW per year;

a hydrogen cost reduction and carbon price of $50/ton CO2 is needed by 2030 to make green steel competitive (could lead to 211 metric tons (Mt) of steel capacity being built on the low-carbon hydrogen route instead of the coal route by 2045); battery costs have to decline by 40 percent by 2030 and green hydrogen by two-thirds by 2035; a na tionwide rollout of charging infrastructure is needed; farmers have to adopt new practices for rice cultivation; targets for circularity have to be met and higher targets set.

There is an urgency to prepare India for an orderly and accelerated decarbonization within the current de cade. Over three-fourths of the India of 2050 (and 80-plus percent of the India of 2070) is yet to be built. Develop ing this robust infrastructure in India will multiply demand across sectors: power (eightfold), steel (eightfold), cement (threefold), auto (threefold), and food (twofold). If policies are set in place to create the right demand signals within this decade, then India could add low-carbon capacities in the next two decades thereafter. For example, a carbon price of $50 per Mt by 2030 makes green steel competi tive (could lead to 211 Mt of steel capacity being built on the low-carbon hydrogen route instead of the coal blast furnace route by 2045).

India benefits from an orderly transition. India’s transition from thermal power to renewables is expected to decrease the average cost of power supply from INR 6.15 per kilowatt-hour (kWh) in finan cial year 2020 to INR 5.25 per kWh and INR 5.4 per kWh by 2050 in the LoS and accelerated scenarios, respectively (Exhibit 3).1 Sus tainable-farming practices could help generate additional farmer in come of INR 3,400 per hectare/year in the LoS scenario, which could increase to INR 4,800 per hectare/year in the accelerated scenario. India may save a cumulative $1.7 trillion in the foreign exchange, which may otherwise be spent on energy imports until 2070. In ad dition, India will have the opportunity to build itself right the first time, minimizing asset stranding. Finally, if India can start manufacturing in newer technologies, it has the potential to be a world leader in bat teries, electrolyzers, green steel, and other areas.

Energy system shifts. Fossil fu els, which comprise 75 percent of India’s commercial energy mix to day, decline to one-half in the LoS scenario and to one-sixth in the accelerated scenario by 2050 (Ex hibit 4). In the accelerated scenar io, over 60 percent of India’s refin ing capacity, 90 percent of its coal mining capacity, and 100 percent of its coal power generation would not be needed. Tax collections from auto fuel could decline to $36 billion by 2050 (from $85 bil lion currently). Ensuring resources are used appropriately will be vi tal. For example, the biomass cur rently being used by households for cooking, and which in future can be used for thermal-power generation, might potentially need to be directed to hard-to-abate sectors like cement.

Pressure on land systems. In the accelerated scenario, growth and decarbonization combined may require 45 million more hectares of land than is available, of which nearly ten million hectares would be needed for renewable power and eight million for carbon sinks and forests. Innovative land op timization techniques such as maximizing barren land use for renewable power, vertical urbanization, and improved agricul tural productivity would be needed to ensure sufficient land for decarbonization. Moderate impact on household spending and jobs. A critical consideration is the impact of the accelerated decarbonisation on Indian household spending and jobs. We estimate that by 2040, the increases in housing costs resulting from decarbonisation would, for the most part, be balanced by the limited impact on food costs (excluding impact on yields from direct climate change) and decrease in the costs of energy and transport, assuming an orderly transition. If the transition is disorderly (that is, if the initiatives are carried out at the wrong time or incorrectly), the economically disadvantaged would suf fer a more adverse impact. Accelerated decarbonisation could transform over 30 million jobs (24 million new jobs could be cre ated while six million existing jobs could be lost) by 2050. While important, the scale of workforce reallocation may be smaller than that from other macro trends (for example, 60 million new workers entering the workforce by 2030). That said, specific communities (such as coal mining and associated enterprises in Eastern India) could be adversely impacted, requiring sup port, reskilling, and alternative industrial development in par ticular areas.

Large funding needed (3.5–6 percent of GDP), frontloaded, but ‘in the money.’ India may need an estimated $7.2 trillion of green investments until 2050 to decarbonise in the LoS sce nario and an additional $4.9 trillion in the accelerated scenario. Fifty percent of the investments needed for abatement between the LoS and the accelerated scenario is in the money, particu larly across the renewable-energy, auto, and agriculture sec tors; other sectors would likely need policy support from the government. The net spend (capex minus opex) will need to be frontloaded. As an illustration, net of operational savings, $1.8 trillion would be needed from 2030–40 and $600 billion from 2040–50 between the LoS and accelerated scenarios.

All stakeholders need to come together and act now to accelerate India’s decarbonization. The government could provide policy and regulatory support to make projects across sectors economically viable. These could include providing incentives for the use of EVs and fuel cell EVs by balancing taxation, simplifying regulations for authorizing and installing new power and grid installations, creating demand signals for higher-cost green materials like steel, and generating support for localizing electrolyzer manufacturing. Support would also be required to ensure a just transition that minimizes impact on low-income households. These actions need to happen in the right sequence to avoid energy shortages, price increases, and transition disorderliness.

Achieving technological breakthroughs would require consis tent public and private investment. It would also require willing ness among business leaders and policy makers to adopt new technologies, for example, long-duration storage technologies to capture seasonality of renewable sources, advancement in fuel cell technology, and improvements in recycling technolo gies.

Against this backdrop, we propose the following ten actions to accelerate India’s decarbonization:

Lay out a detailed medium-term decarbonization plan with sector-specific priorities and policy frameworks that account for interdependencies across sectors and provide demand signals to guide corporates to invest.

Accelerate implementation of a compliance carbon market (within three years). This would also require the creation of demand signals, especially in hard-to-abate sectors, and incentives linked to investments in newer technologies like CCUS.

Enable banks to support the transition, catalyzed by a greentransition bank. Banks could be asked to come up with their investment glide paths within one to two years and build the necessary capability for assessing risks in these new spaces.

Accelerate renewable adoption in the power sector to scale up capacity addition by four times and to deepen market reforms with a 30-year outlook in a manner that ensures a stable grid fed predominantly by infirm power.

Empower a nodal authority to define a national land-use plan. Lay clear land-use guidelines for optimized use across urbanization, industrial needs, carbon sinks, agriculture, and renewables.

Create a resilient indigenous manufacturing capability and increase investment in cleantech R&D. Efforts would be needed to develop local raw-material resources (such as rare earths), secure materials from elsewhere in the world, and produce equipment locally through mechanisms like production-linked incentive (PLI).

Evaluate five carbon capture and storage hubs in Gujarat (Jamnagar), Odisha (Paradeep), Rajasthan (Barmer), Maharashtra (Pune), and Andhra Pradesh (Vizag) potentially in public–private partnership for utilization and storage of captured carbon.

Create a national circularity mission with recycling hubs in the top 20 Indian cities (contributing 35 percent of municipal solid waste), mandated targets on recycling rates, recycled raw-material use (for example, blending norms), and landfill levies.

Enhance the National Hydrogen Mission with government playing a key role in accelerating demand through blending mandates, boosting cost competitiveness via capital subsi dies and

R&D investments, and enabling export opportunities via in ternational trade agreements.

Empower companies to play on the front foot, evaluating investment opportunities that this green trend will unlock, aligned with India’s national plans or opportunities opened up by decarbonization of other countries (for example, greenhydrogen derivative exports).

India needs to take thoughtful actions now to set itself up for an accelerated and orderly transition. Looking beyond the short term and laying the foundation for this transformation within this next decade is the imperative for a decarbonized India and world.

Source: mckinsey

GIGA-SCALING LOW-CARBON BATTERIES: A CHAT WITH NORTHVOLT CEO PETER CARLSSON

As global demand for low-carbon batteries accelerates, Northvolt’s CEO plans to scale a sustainable and profitable business at record speed.

Launched in 2016, battery maker North volt continues to impress investors. In the last round of funding, the company was valued at more than $11 billion. From the start, cofounder and CEO Peter Carlsson has been on a mission to build the larg est green-battery producer in the world. Where many saw a highly competitive and fragmented value chain, Carlsson spotted an opportunity in large-scale vertical inte gration of lithium-ion manufacturing at low cost and with low carbon intensity. North volt currently operates one gigafactory in Sweden and has plans to open several more.

In a conversation with McKinsey’s Rob W. Mathis and To mas Nauclér, Carlsson discusses what it takes to build and scale a green business, the need for new types of partner ships, and how to tackle the talent shortage. An edited version of the conversation follows.

McKinsey: What were the biggest roadblocks to getting start ed?

Peter Carlsson: I would say there were two major roadblocks. One was technology; know-how was not available in the surrounding area, which meant that we needed to bring in competence from different parts of the world. That was a challenge.

Second, this business is a scale business. It is kind of go big or go home, which means when you’re starting, you have a tremendous entry hurdle in terms of the capital expenditure you need to scale. We knew in the beginning that there is a fairly large risk that this wouldn’t succeed. But we still thought the opportunity to build a pioneer in Europe, and to do it in a sustainable way, outweighed the risk of failing.

McKinsey: And how did you overcome these roadblocks?

Peter Carlsson: We took a middle step to scale. We funded what we called Northvolt Labs, which was an R&D and industrialization facility. We assumed we needed roughly €100 million. To date, we have invested over €500 million.

But it’s also grown significantly in scale. And I guess that’s part of the entrepreneurial journey. You never know the full complexity of the route you’re taking. And if you knew, you wouldn’t start. Labs was one step to prove the product and process toward the larger step. And I think that was a key enabler. Another one was to move all stakeholders, step by step, to build a foundation that was solid enough for everybody to do their share: for carmakers to make strong agreements that were financeable, for suppliers to take risks in selling the equipment, for politicians and stakeholders to support the setup from a regulatory and a local government point of view. It was the construction of a big ecosystem that was necessary. And we knew nobody would individually take a big jump. You needed to get everybody together.

What has been Northvolt’s approach to scale?

First, you need a product. Second, you need to industrialize that product. And then, based on that industrialization, you need to find a manufacturing concept that is scalable. We’re still in that industrialization scale-up, which is incredibly painful. We have to fight for every product that comes out.

The yield numbers are not great, and you’re struggling continu ously with issues. Systematically tackling each problem is a stepby-step process. And eventually, you will get to the yields, the outputs, and potentially even more. And at some point in time, you need to decide: Is this the process that we will duplicate? Within Northvolt, we have created what we call the blueprint team, which is basically designing process software for constructing blocks of capacities that we then intend to scale. And this is what we think is going to be essential to go from one to five factories. That is a very strong format that we adhere to.

battery packs, there is a strong proximity to Silicon Valley and the companies developed there. You need to determine where they are and then how we bring them here. And for us, one key enabler has been the very strong mission to have an impact. People have almost uniformly joined because they want to be part of building the most sustainable battery in the world. Employees want to spend their time and their career in a company that is both sustainable and technologi cally advanced, where you can learn and evolve. The second enabler, which is also something we’re going to see more and more going forward, is that almost everyone in the company is a shareholder. The employees own almost 10 percent of the company. The combination of a mission, having a great working environment, and that shareholding has been a big success factor for us.

McKinsey: How have you managed investor and board ex pectations?

Peter Carlsson: The partnering strategy was very important from the beginning. Part of building a company with a small team yet with a big ambition meant that partnering up with different stakeholders was a key enabler to creating a solid foundation. For example, if this financing partner sees that this carmaker or this technology provider is lining up, it gives them comfort. And therefore, it’s perceived, to some extent, to reduce the risk. We are now seeing such a big transformation in the industry—from combustion engines into electrification and also into autonomous driving and ride-sharing. There is so much happening, and there are so many investments going into this transition that the traditional customer–supplier partnerships are, for most people, not really working. That means that we’re starting to see many more discussions about joint ventures, like the factory-building joint venture we did with Volvo Cars.

And there are also other types of strategic discussions going on about technology, capacities, et cetera, where you’re working in a much more integrated way than what we’ve seen in the past. This transition is marking a sort of new era in supply chain management and adding new and different tools to the partnership toolbox.

McKinsey: Talent is a critical component of Northvolt’s success. How have you attracted and brought talent to Sweden?

Peter Carlsson: First and foremost, it is about recognizing the clusters of competence that you need. In cell design, for example, the clusters of competence were in Japan and Korea. If you look at battery systems and data analytics for batteries and

Peter Carlsson: I think one of the biggest reasons we have gotten the funding we have to date is because we have walked the talk on our execution and financial plans. If you aim too high, there may be a large number of people who will doubt your ability. And we knew that. We used that as additional energy to fuel the team, like, “Let’s show them that they’re wrong.” I mean, this is a little bit too important not to try. Of course, when you’re building a factory with the type of complexity that we’re doing up in Skellefteå, and then have a major COVID-19 crisis, the global logistics system gets totally out of whack to some extent. It hasn’t been the easiest of environments in which to run a really large, complex project. But it put the organization on its toes. We’re still roughly only six months delayed from the original plan, which is, in my book, incredibly good work from the team.

McKinsey: What surprised you on this journey of building a green business, and what excites you the most about the future?

Peter Carlsson: There are so many surprises that you go through during the journey. When somebody in the begin ning told me how hard it would be to go through the first fi nancing process, I kind of dismissed that and said, “We’re go ing to do it differently.” When you sum it up, a year and a half later, all the things that I was told did happen. And maybe that wasn’t a surprise. But it was an incredible effort to get through that process. Then from a product and industrializa tion process, you make a lot of mistakes. And the most im portant thing is you recognize you made a mistake, and you correct it as fast as hell and go on. And then don’t think too much about it. Focus on going forward. What excites me the most is how fast I see this transition going now. The strength of technology development, the strength of the transition, and that we are able to solve a lot of big problems—that’s incredibly encouraging from my perspective.

McKinsey: How have partnerships accelerated Northvolt’s ability to scale?

INDIA TO PRESS RICH COUNTRIES TO KEEP CLIMATE FUND PLEDGE

India will use next week’s U.N. climate conference to urge rich countries to keep their promise to give $100 billion a year in funding to help developing nations deal with climate change and switch to cleaner energy, two government sources said.

New Delhi will also reiterate its commitment to do its best to help slow global warming at the COP27 event, the sources said.

“The cost of both decarbonisation and coping with the impact of climate change will be huge and that is why those who have disproportionately contributed to greenhouse gas emissions shouldn’t delay the funding,” one of the sources said. “And that is why India will speak for itself and other developing nations to ensure that there is a clear, complete roadmap for the funding that should immediately start flowing,” he added.

In 2009, the developed countries most responsible for global warming pledged to provide $100 billion per year by 2020 to help developing nations deal with its consequences. The commitment has still not been met, generating mistrust and reluctance among some developing nations to accelerate their emissions reductions. India, is the world’s third larg est emitter of greenhouse gases after China and the United States – though it is much lower down the rankings of emissions per capita, according to Our World Data. It has been ramping up its share of renewable energy, but coal continues to be In dia’s main fuel for power generation, as the country strives to provide energy for its 1.4 billion people using a cheaper fuel.The sources said India had al ready initiated steps such as meeting half of its en ergy demand from non-fossil fuels and building 500 gigawatts of non-fossil energy capacity by 2030.

“These goals need a lot of money and that is why it is important to press for the implementation of climate actions promised by developing countries,” the second source said. “Developed countries also need to realise that overall costs have gone up, so the pledge to provide $100 billion per year cannot be static. It needs to go up.”

NO TAKERS FOR GREEN POWER WORTH 5 GW

Amid the government’s ambitious energy transition goals, as much as 5 GW of electricity from renewable energy projects remains unsold, two people aware of the development said. The reason: A government-run nodal agency has been unable to find distribution companies willing to buy the power from these projects.

State-run Solar Energy Corp. of India (SECI), the nodal agency for renewable energy, signs PPAs with winning power developers in auctions, and subsequently signs power sale agreements (PSAs) with discoms for the sale of this power. However, discoms are increasingly reluctant to sign PSAs, as they notice tariffs keep declining in subsequent auctions. However, this is still an improvement from the earlier part of the year when the quantum of such projects was 16 GW.

“Eight months earlier, there was a stock of almost 16 GW of unsold power, where letter of award was done but the PPA was not done. That has dwindled to 4 or 5 GW, which has been good progress,” said one of the two officials cited above, both of whom spoke on the condition of anonymity.

However, the situation may be easing as PPAs are being signed.“The backlog of unsold power came on the backdrop of anticipation of a further decline in tariffs since it touched a low of ₹1.99 per kWh (kilowattt hour) in November-December 2020. However, on the backdrop of the rise in module prices, tariffs have now gone up and have largely remained around ₹2.2- ₹2.3 per kWh. In recent auctions, tariffs have been in the range of ₹2.5-2.9 per kWh,” said Vikram V., vice president & sector head of corporate ratings at ICRA Ltd.

“A slow pace of signing of PPAs and PSAs would impact the capacity installation in the country. However, the situation has improved in the past few months,” he added.

In March this year, the standing committee on energy pulled up the Union ministry for new and renewable energy for not achieving assigned yearly targets for installation of renew able power. Module prices, which were around 17-20 cents in December 2020, are now around 35 cents in the case of imported modules, including the 40% basic customs duty and the cost of domestic cells are 36-37 cents on an import parity basis, analysts said. The basic customs duty of 40% on mod ules and 25% on cells effective from April 2021 has lifted the prices of modules in the country. The plunge in green power tariffs came largely on the back of highly competitive bidding under the reverse auction process. In a reverse auction, once the lowest bid is found after the bids are opened, there is a further auction for even lower bids. In renewable energy, the mechanism of reverse auctions has been used largely to dis cover the lowest tariff. Green energy players have urged the government to revert to closed bids on the grounds that re verse auctions hurt businesses due to low tariffs discovered through the process. Queries sent to the ministry of new and renewable energy, ministry of power and SECI remained un answered till press time.

Source: Reuters Source: PTI

BILLIONAIRE ADANI TO TARGET EUROPE WITH HUGE MOROCCO CLEAN ENERGY PROJECT

Adani’s coal-to-ports conglomerate is consider ing building wind and solar generation plants in the North African nation and facilities to pro duce green hydrogen for export, according to people familiar with the proposals and who re quested anonymity to discuss private details. The project, which would be Adani’s largest clean power development outside India, could be as large as 10 gigawatts, according to one of the people. That would be almost equal to Morocco’s existing installed energy genera tion capacity, which includes a total of about 2.8 gigawatts of wind and solar, according to BloombergNEF data. The development would be delivered in two stages of 5 gigawatts and includes plans to supply power locally and to export some electricity direct to Europe, one of the people said. Under the proposals, Ada ni is also in talks with Morocco’s state-owned OCP Group for the sale of hydrogen, which the fertilizer maker could use as feedstock to produce carbon-free ammonia, according to a separate person.

Adani didn’t respond to an email. Moroccan energy ministry, its fertilizer maker OCP as well as the state renewable energy agency Masen didn’t respond to emailed requests for comment either. Shares of Adani Green gained 3.6% this week, the biggest increase in two months, and beating the 2.4% advance in the benchmark index. It could be years before we see any green hydrogen being exported to Europe, given prog ress in the technology. A 4GW green-hydrogen project in Saudi Arabia is slated to take four years to finish. Na tions in North Africa and parts of the Middle East are increasingly being identified as potential major green hydrogen hubs because of their abundant sunshine and wind, and proximity to key export markets includ ing Europe. In July, India-based ReNew Energy Global signed an initial pact to build an $8 billion green hydro gen project in Egypt. Adani aims to make his empire the world’s largest producer of clean power by the end of the decade, though continues to make major invest ments in fossil fuels. He’s focusing heavily on develop ment of a green hydrogen sector, and sees the zero emissions fuel as key to enable the decarbonization of heavy industry in India and overseas.

INVOLVE DMS IN THE WORK OF SETTING UP EV CHARGING STATIONS: DELHI CHIEF SECRETARY TO OFFICIALS

Delhi Chief Secretary Naresh Kumar directed officials to involve district magistrates in the work of setting up electric vehicle charging stations in the national capital to cater to the demand.

He chaired a high-level meeting on the electric vehicle strategy for the city that had 50 par ticipants including representatives from oil companies, Discoms, the New Delhi Munici pal Council, and the Municipal Corporation of Delhi. Officials said the idea behind the meet ing was to connect the dots for the govern ment’s action plan since it needs partnerships and alliances.

“A high-level meeting to shape electric vehicle charging strategy for Delhi chaired by the chief secretary. Oil companies, Discoms, NDMC, MCD, @ConvergenceCESL, charging companies under one roof. Mission: 18000 chargers in the city by 2025,” tweeted Delhi Transport commissioner Ashish Kundra.

Delhi Chief Minister Arvind Kejriwal inaugurated 11 high-tech low-cost electric charging stations in different parts of the city, taking yet another step towards pushing the residents to shift to electric vehicles (EVs). The chief minister launched these charging stations as part of a larger project to set up 100 charging stations across the national capital in the next two months. At the meeting, the chief secretary said there should be a microzonation plan and district magistrates should be involved.

“There is a heat map on which all EV owners are plotted. Through the map, we know where are the parking lots, the category of EV owners and which areas they reside. All parking lots are geolocated and it has details of the locations of all charging stations. Through this we know where we stand in terms of reaching the target of having a charging station every three kilometres,” an official said.

“If an area has the dominance of rickshaw owners, there need to be certain kinds of chargers installed there. Similarly, for cars, other types of chargers need to be installed,” he said. The official said that the chief secretary also directed officials that there should be a troubleshooting option on the Delhi electric vehicle portal. “The portal has all details of charging stations but there should be a page where those applying for getting the chargers installed can raise a ticket high lighting the issues being faced by them if the chargers are not installed within a week. The Delhi EV cell will then do the troubleshooting — be it any delay in get ting clearances or any other issues,” he explained.

Gautam Adani, Asia’s richest person, is in exploratory talks for a giant renewables project in Morocco, which would aim to supply electricity and emis sions-free fuel to Europe.

Source: livemint

Competitors including billionaire Mukesh Ambani’s Reliance Industries Ltd. and India’s state-run energy giants like NTPC Ltd. and Indian Oil Corp. are also seeking to be among leading champions of the clean fuel.

Source: PTI

200 ELECTRIC BUSES TO BE DEPLOYED IN JK’S TWIN CAPITAL

CITIES: OFFICIALS

A fleet of 200 electric buses will be deployed in the twin capital cities of Jammu and Kashmir to establish an environmentally, socially and financially sustainable network of public transport in the union territory, officials said

TATA Motors Ltd and Chalo Mobility Pvt. Ltd have entered into a strategic collaboration for the deployment of these buses, they said. They said a contract agreement was signed between the firms in the presence of Chief Secretary Arun Kumar Mehta and Principal Secretary of Housing Urban and Develop ment Department (HU&DD) Dheeraj Gupta. The collaboration is part of the Jammu and Kashmir government’s initiative to establish an environmentally, socially, and financially sustainable network of public transport for Jammu and Srinagar, they said. Under this project, Tata Mo tors and Chalo Mobility will jointly work to smoothen the func tioning of electric buses in both cities in coordination with Jam mu Smart City and Srinagar Smart City, they said. Tata Motors will be responsible for the supply, operation and maintenance of electric buses, 100 each in Jammu and Srinagar, they added.

Chalo Mobility will deploy its consumer technology solutions to offer conveniences like electronic ticket issuing Machines (ETIMs), an Automated Fare collection system (AFCS), a mobile app with Mobile Tickets and Mobile Pass es platform, smart cards platform and cloud-based hosting. The Jammu Smart City Limited (JSCL) has executed the tendering process for the supply and operations of electric buses and to establish a national common mobility cardcompliant digital ticketing solution in both the smart cities, the officials said.

Speaking on the occasion, the UT chief secretary said the in duction of electric buses will transform the transport system in both cities Jammu and Srinagar. He asked both firms to en sure the best travelling experience for people.

Principal Secretary Gupta said electric vehicles are the future of transport as they are eco-friendly, ideal for the urban environment, and contribute to reducing pollu tion levels. He added this collaboration will facilitate ef fortless and convenient travel in electric buses in Jammu and Srinagar. “Passengers can also get details like realtime tracking of buses, how congested it is, along with expected time of arrival,” he said. The principal secretary also informed that the partnership between both firms will also eliminate the need for paper tickets and make contactless ticketing a greener option. “It will also play a significant role in savings on ticketing costs for the au thority,” he added. Apart from reducing pollution levels, the electric buses are also equipped with state-of-theart facilities like a panic button, location system, CCTV, stop request system, and other security-related fea tures, the officials added.

INDIA’S AIRPORTS ADOPTING GREEN ENERGY FAST

In tune with this mission, several Indian airports are switching to green energy and the Centre has kept a target of turning 90 airports into carbon neutral by 2024.

India is going big on its commitment regarding net zero emission and switching as fast as possible into green energy in every sphere of business. In tune with this mission, several Indian airports are switching to green energy and the Centre has kept a target of turning 90 airports into carbon neutral by 2024. India aims to reach net zero emissions by 2070. In June this year, the inter national airport in New Delhi adopted green energy, us ing only hydro and solar power for all its energy needs.

The Delhi International Airport Limited (DIAL), a GMR Infrastructure Limited-led (GIL) consortium, which man ages and operates the Delhi airport, has signed a longterm power purchase agreement (PPA) with a Himachal Pradesh-based hydropower producing company for the supply of hydroelectricity for the airport until 2036.

Since June 1, the Delhi airport has adopted renewable energy use from the hydropower plant for its demand of the remaining 94 per cent, thus ending its dependency on non-renewable power. This move will help Delhi airport in the reduction of indirect energy emissions of a whopping 200,000 tonnes of CO2 every year. Besides, DIAL has a 7.84 MW solar power plant on the airside, whereas as part of stakeholder collaboration, operators of the Cargo terminals at the airport have added another 5.3 MW rooftop solar power plant. Working to make the aviation sector environment-friendly, Civil Aviation Minister Jyotiraditya Scindia had recently informed that by 2024, more than 90 airports in the country will be carbon neutral. The minister also added that the number of airports will also be increased from the current strength of 141 to 220 by next year. Cochin International Airport became the first ‘green air port’ in the world, for which it was awarded the ‘Champions of Earth’ award in 2018, which is United Nations’ highest envi ronmental honour.

The airport fully operates on solar power, which meets all its electricity requirements. This is no small feat as the Cochin airport stands to be one of the most important airports for not just India, but also the rest of the world.

It is the largest airport in Kerala and the seventh larg est in India in terms of passenger handling. It is also the first-ever airport in India to be developed under publicprivate-partnership. Installing the first solar photovoltaic power station plant on the rooftop of the arrival terminal block way back in 2013 turned out to be trendsetter. Since then, it has not looked back, adding several more solar power units to maximise energy production and produce enough for all its needs. Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) has entire ly switched to green sources for its energy consumption needs, making it one of India’s 100 per cent sustainable airports. The CSMIA was the first in India to launch hybrid technology that solely runs on green energy since April 2022. This sustainable initiative undertaken by the CS MIA is part of the airport’s efforts that reduces its carbon footprint and further propels its journey towards net zero emissions. Out of the total 100 per cent needs, the CS MIA procures around 5 per cent of the airport’s electricity requirement through its onsite solar generation and the rest 95 per cent from other green sources such as hydro and wind energy.

The CSMIA witnessed a rise in natural energy procurement with 57 per cent green consumption in April 2022 to a whopping 98 per cent between May and July. And, finally, attained the landmark 100 per cent utilisation of renewable sources of energy in August 2022, a national daily reported. A transition to clean energy is a huge economic opportunity. India is particularly well-placed to become a global leader in renewable batteries and green hydrogen. These and other low-carbon technologies could create a market worth up to $80 billion in India by 2030. Support from the international community is essential to help shift India’s development onto a low-carbon path, a paper in International Energy Agency stated.

RENEWABLE-ENERGY DEVELOPMENT IN A NET-ZERO WORLD

Global decarbonization will require a massive build-out of wind and solar farms. But can developers find enough land, secure the supply chain, and recruit workers while maintaining profitability?

The rapid maturation of wind and so lar power has been nothing short of astonishing. Not long ago, the devel opment of new solar and wind farms was typically driven by small regional players, and the cost was significantly higher than that of a coal plant. Today, the cost of renewables has

plummeted, and many solar and wind projects are undertaken by large multinational companies, which often also announce stagger ing development targets.

Over the past decade, the growth of renewable energy has consis tently and dramatically outperformed nearly all expectations (Ex hibit 1). Upward corrections of estimates have become something of a ritual.

But this growth story is just getting started. As countries aim to reach ambitious decarbonization targets, renewable en ergy—led by wind and solar—is poised to become the back bone of the world’s power supply. Along with capacity additions from major energy providers, new types of players are entering the market (Exhibit 2). Today’s fast followers include major oil and gas companies, which aim to shift their business models to profit from the increased demand for renewables and the electrification of vehicles, and private-equity players and insti tutional investors that

make renewable energy a central component of their in vestment strategy. Leaders in the shipping industry are in vesting in renewables to enable the production of hydrogen and ammonia as zero-emission fuel sources; steel manufac turers are eyeing green hydrogen to decarbonize their steel production, with renewables providing the green electricity for the process. Car manufacturing companies are also striking renewable-energy deals to help power their operations and manufacturing, as well as making investments in wind and solar projects.

McKinsey estimates that by 2026, global renewable-electricity capacity will rise more than 80 percent from 2020 levels (to more than 5,022 gigawatts).1 Of this growth, two-thirds will come from wind and solar, an increase of 150 percent (3,404 giga watts). By 2035, renewables will generate 60 percent of the world’s electricity.2 But even these projections might be too low. Three years ago, we looked at advances made by renewable energy and asked, “How much faster can they grow?”3 The an swer is: faster than you think they can.

THREE CORE CAPABILITIES FOR WIND AND SOLAR DEVELOPERS

This race to build additional solar and wind capacity increases the pressure on developers to execute efficiently and heightens competition for finite resources. Still, the three winning capabilities we identified three years ago as important for building or ex panding a renewables business are even more critical now. They form the bedrock required to tackle upcoming challenges:

Value-chain excellence. As competition intensifies and government support for renewables subsides, strong capabilities across the entire value chain are the required cost of admission. For instance, gaining access to scarce amounts of attractive land will require differentiation in project origination and development. As margins squeeze and operators’ exposure to risk increases, ambitious companies will want to explore new, profitable offtake markets for their electricity, such as data centers or hydrogen electrolyzers for industrial production.

Economies of scale and skill. Driven by the rapid scaling of the renewables industry, many players have built efficient operating

models. However, finding employees with the neces sary skills and capabilities, particularly in high-demand areas such as project development and engineering, is becoming a bottleneck for growth ambitions.

Agile operating model. Agility and speed will be key in finding innovative ways to integrate partners and in establishing robust, high-performing supply chains. They will also enable businesses to shift resources quickly to the biggest value pools and respond to changes in the landscape, such as shifting regulations or price volatility.

FOUR CHALLENGES THAT WILL DEFINE THE NEW ERA OF RENEWABLE ENERGY

Leveraging these capabilities as a strong foundation, successful renewables developers must navigate an increasingly complex and competitive landscape. Specifically, they will have to focus on and address four emerging challenges:

A scarcity of top-quality land. Developers are in a constant scramble to identify new sites with increasing speed. Our analysis in Germany, a country aiming to nearly double its share of electricity coming from renewables by 2030, offers a glimpse into the constraints. Of the 51 percent of the country’s land that is potentially suitable for onshore wind farms, regulatory, environmental, and technical constraints eliminate all but 9 percent. Meeting capacity targets will mean adding wind turbines to 4 to 6 percent of the country, giving developers very little room for error.

A blue-collar and white-collar labor shortage. Across economies, the “Great Attrition” is making it difficult for companies to find and keep employees. Since April 2021, 20 million to 25 million US workers have quit their jobs, and 40 percent of employees globally say they are at least somewhat likely to leave their current position in the next three to six months. This environment presents a particularly acute challenge for industries such as renewable energy, where specific technical expertise and experience are crucial elements of success. For instance, our analysis suggests that between now and 2030, the global renewables industry will need an additional 1.1 million blue-collar workers to develop and construct wind and solar plants, and another 1.7 million to operate and maintain them.

This includes construction laborers, electricians, truck and semitrailer drivers, and operating engineers.

Supply chain pressures. The soaring cost of steel, manufacturing disruptions caused by extended lockdowns in China, and transportation backlogs at ports are already making it difficult for wind and solar developers to complete projects in their pipeline on time and on budget. Some of these pressures will abate as others move to the forefront. For instance, many of the raw materials needed to manufacture solar panels and wind turbines are projected to be in short supply. This includes nickel, copper, and rare earth metals such as neodymium and praseodymium, which are indispens able for the creation of magnets used in wind turbine generators.

Pressure on profits and volatility of returns in the short term. The increasing number of players moving into the renewable-development space, combined with reduced levels of government support and higher costs of materials, technology, and financing, is putting pressure on returns. At the same time, an all-timehigh price volatility creates uncertainty and market risk.

SUNSURE ENERGY COMPLETED THE CONSTRUCTION OF A 74 MWP OPEN ACCESS SOLAR POWER PLANT IN THE TIRUNELVELI DISTRICT OF TAMIL NADU

Proud to announce that we recently completed the construction of a 74MWp Open Access Solar Power Plant in the Tirunelveli district of Tamil Nadu. With the completion of this project on 25th September 2022, Sunsure has crossed 250 MW of installed solar capacity across 16 Indian States.

Sunsure Energy Pvt. Ltd. is the Turnkey EPC partner to Cleantech Solar for this project, which will supply over 12.36 crore units of green energy every year to some of Tamil Nadu’s largest power guzzling industries. Power will be consumed by the industrial consumers that have en tered into long term open access power purchase agreements (PPAs) with Cleantech Solar.

Renewables developers will need to act decisively to prepare for these upcoming challenges. In a series of future articles, we provide detailed insights on each of these pressures and share potential ways players can take action.

SCALING THE CCUS INDUSTRY TO ACHIEVE NET-ZERO EMISSIONS

Carbon capture, utilization, and storage can help hard-to-abate industries achieve net-zero emissions. Scaling the industry will require action by governments, investors, and industrial players.

Over the past 30 years, many industry ex perts have predicted that carbon capture, utilization, and storage (CCUS) technolo gies would be required to decarbonize in dustries such as energy, chemicals, cement, and steel production, yet the CCUS industry has struggled to find its footing. Today, how ever, the nationally determined contributions (NDC)1 of governments and corresponding industry commitments, technological inno vations, and demand for green consumer products have made scaling CCUS not only possible but necessary.

To meet their emissions reduction commitments, governments have begun enacting policies to support the development of CCUS. For example, the recent Inflation Reduction Act (IRA) in the United States includes an enhanced tax credit for the permanent seques tration of CO2, which could rapidly boost adoption and help scale CCUS facilities. According to McKinsey analysis, CCUS uptake needs to grow 120 times by 2050 for countries to achieve their net-zero commitments3 , reaching at least 4.2 gigatons per annum (GTPA) of CO2 captured, with some estimates ranging from 6.0 to 10.0 GTPA. This could lead to CCUS decarbonizing 45 percent of remaining emissions in the industry sector. Even in conservative scenarios, CCUS demand would reach approximately two GTPA by 2050—a 60-fold increase over today’s pipeline of projects.

CCUS UPTAKE NEEDS TO GROW 120 TIMES OVER BY 2050 FOR COUNTRIES TO ACHIEVE THEIR NET-ZERO COMMITMENTS

CCUS is recognized as a necessary and relatively low-risk piece of the decarbonization puzzle, but the technology is not moving fast enough to achieve a 1.5° or even 2.0° pathway. This article explains what the CCUS industry can do to overcome historical challenges and reach the scale required for net-zero emissions. Specifically, we map how the industry can generate revenues and move beyond a subsidy-only business model, and we discuss what governments, investors, and industry players can do to help scale the technolo gy. Future articles will discuss other scaling requirements, such as lowering the costs of implementing CCUS and developing hubs and clusters.

AN OVERVIEW OF CCUS: WILL IT FINALLY ARRIVE?

There are three main types of technological carbon capture today (with many more in development): industrial-point-source CCUS, di rect air capture (DAC), and bioenergy with carbon capture and stor age (BECCS). Industrial-point-source capture is most important for short- and midterm decarbonization because the technology is ready today and has the potential to capture large volumes of CO2 emis sions from hard-to-abate industries that have few other decarbon ization options. Predicated on achieving significant cost reductions, DAC has the potential to unleash decentralized carbon removals at scale in combination with a multitude of revenue-producing technolo gies from sustainable aviation fuel (SAF) to hydrogen production. BECCS will be critical as the net-zero transition progresses, particu larly as attention further shifts to scaling carbon removal from the atmosphere and nature-based solutions reach their capacity. That said, several challenges must be overcome before industrial-pointsource CCUS can reach scale, especially around policy and regula tory support, cost, and public acceptance. Based on the current

CCUS project pipeline, approximately 110 million tons per annum (MTPA) of CO2 are expected to be captured annually by 2030. To achieve the net-zero commitments pledged by 64 governments at COP26, approximately 715 MTPA are required by 2030 and 4,200 MTPA by 2050.

Our research shows that more than 25,000 global in dustrial CO2 emitters across 11 industrial sectors could be decarbonized through CCUS. These facilities are dis tributed all over the world, with China, Europe, India, and the United States accounting for more than 60 percent of industrial-point-source emissions. The highly distributed nature of emissions means that these challenges will be solved not through the formation of a small number of decarbonization hubs but by deploying capital at scale across a large number of projects around the world.

Doing so, however, requires tackling the following under lying challenges:

Policy is uneven and uncertain. CCUS projects are generally still first-of-a-kind and therefore unproven, not because the technology is unknown but because the various components have not yet been combined repeatedly at scale. As a result, the policy to enable these projects is complex and still evolving. It requires a blend of direct incentives (such as support for shared infrastructure), indirect incentives (such as carbon pric es or voluntary markets), regulatory enablement (such as permitting), and risk management (such as mo nopoly, offtaker, or subsurface risk assumption). The current policy landscape is quite varied and, in many instances, is in the process of being actively shaped.

Revenue streams are not well established, making business cases challenging. Building on the previous point, most business cases for CCUS currently rely on specific policy enablement. Without that, it is difficult to make economical business cases. Nonsubsidy rev enues, which will be critical to scaling the industry, are currently immature. Given estimates that scaling the CCUS industry will require $130 billion per year from now until 2050,6 it is unlikely that governments would be either willing or able to cover all costs (exhibit). To put things into perspective, the required investment by 2050 is on par with global liquefied natural gas (LNG) ($120 billion per year), electric-vehicle (EV) charging ($140 billion per year), and hydrogen ($140 billion per year), according to McKinsey analysis.Companies have been willing to develop plans but are hesitant to commit capital without regulatory certainty, which has led to cautious approaches to spending on proj ect development beyond feasibility studies. That said, CO2 prices (whether as a mandate or from companies internalizing a price) can determine that a product equipped with CCUS, such as cement, becomes cost competitive with its high-emitting equivalent.

Projects are large and unproven. CCUS projects take a long time to stand up, and there have been many early failures. According to one study, 263 CCUS proj ects with the ability to process at least one ton of CO2 per day were undertaken from 1995 to 2018. Of those with a project size greater than 0.3 MT CO2 per year,

or about half the sample size, 78 percent have been canceled or put on hold.7 Essentially, every CCUS proj ect to date has been unique, creating all the delivery challenges of first-of-a-kind projects, but they are also commercially fragile, making success all the harder to achieve.

Cost benefits of scaled projects come with coordination complexity. Carbon capture through CCUS-anchored industrial hubs is only effective at scale if all components of the value chain are developed in a synchronized way. For instance, capture projects need transportation and storage networks or end users of CO2 to come online to meet the export demand. As a result, these projects require collaboration between partner organizations that typically aren’t used to working together. They of ten have different corporate decarbonization objectives or timelines, asset life cycles, investment hurdles and requirements, and tolerances

for sharing risk across projects (for example, delivering the vari ous parts of a project or comingling CO2 streams in shared se questration infrastructure). When compounding different business models—as well as the desire to build real options and phases of projects that come online at different times—making decisions on shared infrastructure build-out options can be quite challenging.

Controversial public perception. Although serious analyses and pathways to achieve net-zero commitments by 2050 require CCUS as a solution, many still see CCUS as enabling the continu ation of the fossil-fuel industry and do not perceive it as a “clean” technology in the way that they see renewable power or EVs, for example. In this sense, companies and governments have not been effective in highlighting the necessity and benefits of CCUS technologies or clearly articulating guidelines for where CCUS should (and should not) be deployed. In some quarters this has led to public hostility, making development more challenging, es pecially in projects that require initial public subsidies to build and operate.

Despite these historical challenges, there is good reason to believe that the current push will be different. The NDC commitments made late last year at COP26 in Glasgow, which brought net-zero coverage of global emissions to more than 90 percent, provide a clear basis for governments to get serious about regulatory enablement of the industry.8 And some early clusters in Canada, Europe, and the United States are showing how to overcome the complexity of projects.

NEW INVESTMENTS WILL DEPEND ON FOUR FUTURE REVENUE STREAMS

Although CCUS is currently seeing significant innovation, especially in the capture stage, it is unlikely in the short to medium term that costs will come down across the value chain as they did with technologies such as electrolyzers for hydrogen. Many CCUS technologies,

such as compression and pipelines, are already mature, while others rely on bespoke brownfield projects that can be difficult to standardize. This means revenues will need to balance out business cases. Such revenues fall into four categories, and each will likely need to grow significantly to make the CCUS industry viable.

SUBSIDIES AND REGULATORY INTERVENTIONS

Tax credits, direct subsidies, and price support mechanisms are already beginning to encourage investment in CCUS. For exam ple, the 45Q tax credit in the United States provides a fixed pay ment per ton of captured carbon dioxide sequestered or used.9 The IRA has provided a significant boost to 45Q by increasing the amount of the credit from $50 to $85 a ton for sequestered in dustrial or power emissions, and from $50 to $180 a ton for emis sions captured from the atmosphere and sequestered. The IRA also makes the credit easier to claim by lowering capture volume requirements, implementing direct pay for a period of five years, and enabling the credit to be transferred to other parties.10 How ever, tax credits such as 45Q largely benefit established revenuegenerating companies with significant tax burdens to reduce, but pre-revenue start-ups and innovators with limited tax burdens benefit less. Although the previous 45Q credit spurred develop ment of projects with a low cost to capture such as in ethanol, the enhanced 45Q is expected to support development in higher-cost sectors, such as cement and steel. The IRA has often been com pared to the solar incentive from ten years ago, but the capital ex penditure requirements and build time are an order of magnitude larger for CCUS, limiting speed and economies of scale that solar manufacturing, for example, could rely on to bring down costs. In the European Union, the EU Emissions Trading System (ETS) is the world’s largest greenhouse-gas (GHG) emissions trading scheme, covering emissions from around 10,000 manufacturing facilities and installations in the power sector. Overall, the EU ETS covers approximately 40 percent of the European Union’s GHG emissions.11 Low-carbon fuel standards (LCFS) such as those in California create a market-priced incentive for approved pathways that lower the carbon intensity of fuels. In many developed coun tries, including Canada, the European Union, the United Kingdom, and the United States, direct grants are being awarded to support carbon prices between emitters and transportation and storage, a move that should enable at-scale deployment of CCUS by the end of the decade.

But these direct-pricing, price-support, and market-making strategies are not the only ways regulators can stimulate the in dustry. Equally important are tools such as product standards—for example, mandating certain volumes of green commodities, in cluding steel or cement, in public or private construction projects or structuring markets to protect more expensive, CCUS-enabled products. On this point, the European Union’s carbon border tax will also go into effect in 2026, effectively charging importers and non-EU manufacturers for the carbon emissions that stem from their goods or materials sold in the European Union.12 This is designed to level the playing field between decarbonized products produced in the European Union and higher-carbon (and poten tially lower-cost) imports.

Regulatory backstops are also important tools in stimulating the CCUS industry. For example, the decision in the United Kingdom to phase out unabated gas power by 2035 effectively forces gas providers to switch to hydrogen or install CCUS to continue to de ploy flexible power to balance renewables. Canada has also com mitted to a cap on emissions from the oil and gas sector, without capping production.

Importantly, these regulatory measures can have effects far be yond the internal markets they are set to cover. For example, steel offtakers for plants outside the European Union will have incen tives to invest in CCUS and other decarbonization technologies if it results in better market access or lower tariff barriers, mean ing plants could invest in the technology without local regulatory regimes. This is likely to be observed in products such as steel and hydrogen (particularly lower-carbon “blue” hydrogen from the Middle East).

WILLINGNESS TO PAY FOR LOWER-CARBON-INTENSITY PRODUCTS

Many companies believe businesses and consumers are willing to pay premium prices for green products, whether a car that has a net-zero bill of materials, a cleaning product packaged in net-zero plastic, or houses or apartments con structed with zero-carbon cement. In fact, a recent survey shows UK consumers could be willing to pay up to 100 percent more for zero-carbon plastic bottles.13 This willing ness to cover extra costs is translating into real prices. To day, recycled polyethylene terephthalate (rPET) trades at a 10 to 20 percent price premium, and similar stories hold true for other sectors. For example, several automakers have signed deals with steelmakers to procure green steel.

Green premiums are likely to be highest for zero- or nearzero-carbon products, making CCUS-enabled premiums particularly promising in sectors such as cement, where CCUS is the leading option for deep decarbonization. The key user of cement, the construction industry, is under sig nificant pressure to go green in response to new policies, such as France’s RE2020.15 In addition, market studies show substantial willingness to pay for various types of green homes, including energy efficient, low-carbon en ergy, and zero energy. One recent study found that LEEDcertified Class A urban office sales generated a 25.3 per cent price premium over noncertified buildings. Some of this premium can be attributed to energy efficiency, but it can likely cover the additional cost of green cement in the overall construction costs, which is typically around 3 per cent.16

However, this consumer willingness to pay will not be universal across industries or geographies. To create maxi mum value from green premiums, commodity producers should understand customer preferences, identify market segments with higher willingness to pay, and identify seg ments undersupplied by green products. Initial demand centers could include downstream businesses with am bitious decarbonization targets or niche or intermediary refined-product value chains. Luxury consumer segments could also be a good entry point because materials make up a smaller percentage of costs in luxury goods, so sub stantial green premiums on materials will have modest im pacts on the final prices of products.17 However, this highend market segmentation also limits the decarbonization potential from lower-carbon-intensity premiums. This will require a much deeper understanding of end markets by commodity producers to create the “golden thread” of con sumer green premiums back into the supply chain.

VALUATION OF CO₂ AS A FEEDSTOCK

Most CCUS business cases assume that captured CO2 will be transported to a local site and sequestered, mean ing the CCUS industry is effectively a waste-disposal busi ness. This is an expensive process that involves complex infrastructure and ongoing measuring, monitoring, and management. The utilization of CO2 and its sale as a prod uct offer a revenue source to offset the cost of capture. Although sequestration will be part of the equation when and if CCUS scales, incumbent players and entrepreneur ial start-ups alike are increasingly seeking productive uses of CO2

MANY COMPANIES BELIEVE BUSINESSES AND CONSUMERS ARE WILLING TO PAY PREMIUM PRICES FOR GREEN PRODUCTS.

INDIA

One of the primary uses of CO2 today is enhanced oil re covery, for which the CO2 is employed as a working fluid to extract additional oil from reservoirs while storing some CO2 underground. Other uses are also gaining momentum. For ex ample, there are several commercial offerings of CO2-based polymers, particularly polyurethane foams and polycarbon ates, although the overall volume of polymers produced is small compared with the required volumes of CO2. Cement and aggregates could potentially permanently store a high vol ume of CO2 by forming a reaction between the CO2 and miner als in the mix of cement and aggregates, and many start-ups have demonstrations in the works to gain the confidence of a conservative construction industry.18 In addition, CO2 can be combined with hydrogen to create synthetic gasoline, jet fuel, and diesel (see sidebar, “Making green products with captured CO2”).

VOLUNTARY CARBON MARKET

Voluntary carbon market payments could come in two forms as they relate to CCUS. First, some CCUS pathways, such as BECCS, DAC, and hydrogen or cement based on biofuels, have the potential to deliver negative emissions. In turn, neg ative-emissions credits can be monetized in voluntary carbon markets and will likely make up significant future value pools as the demand for high-quality negative-emissions offsets grows in the coming years. This means CCUS projects ca pable of delivering negative emissions could have a significant additional revenue source—for example, DAC can currently be priced at more than $500 per ton, though this will come down as technology costs go down and supply increases. Negativeemissions credits also provide demand for CCUS transporta tion and storage infrastructure, meaning that connection costs for local players in clusters could be brought online for much lower costs, overcoming infrastructure barriers. Second, fund ing could become available for decarbonizing existing assets in voluntary markets. However, many buyers currently prefer nature-based solutions or solutions that provide significant co benefits, such as distributing cookstoves in developing coun tries at values significantly below those required to decarbon ize an industrial asset using CCUS. Thus, it is unlikely this will be a material source of funding for many projects in the future, though it will doubtless play a role in some.

HOW TO SCALE CCUS

The speed and scale of the technological adoption needed to achieve the goals laid out in the latest round of NDCs are sig nificant and will require collaboration and systems thinking to turn into reality. The following actions can help industry play ers, regulators, and investors determine the next steps.

INDUSTRY PLAYERS

Companies need to take four steps toward scaling and capitalizing on CCCUs:

1. CCUS business cases need to rely on more than just sub sidies. Companies should aim to deliver positive business cases based on the four revenue sources highlighted above: subsides and regulatory interventions, a willingness to pay for lower-carbon-intensity products, the valuation of CO2 as a feedstock, and a voluntary carbon market. This will require collaboration in new ways with new partners as well as finding new ways to connect end-to-end supply chains.

2. Collaboration and coordination. These can help industry players get serious about the shared infrastructure that will en able CCUS. Current clusters have been slow to mobilize, and lessons will need to be quickly transmitted to the next genera tion of projects so they can get going faster. This will require mechanisms to make hard choices, which should be led from the top of organizations. In addition, some regions will need to build large new pipeline networks to gather and dispose of CO2, which could be time intensive.

3. Reduce capture costs. There are a lot of promising tech nologies, but many tech players are hamstrung by cautious customers. Pilot units to prove the technology—and make the subsequent units more affordable—can create large benefits from comparatively small amounts of spending.

4. Advocate for carbon taxes, higher ETS levels, or other tariff barriers. This will likely favor low-carbon products delivered us ing CCUS (and other technologies) and can level the playing field to create a secure environment for investing. These costs would help consumers move away from products with a highcarbon footprint toward those with a lower-carbon footprint.

Regulators, meanwhile, must decide how CCUS will factor into policy, create frameworks to build up the industry, and recognize the reality that early CCUS projects will need support.

1. Decide whether CCUS can be a major feature of industrial policy. Making such decisions will likely rely on a determina tion of whether existing high-intensity assets need to be retired or replaced, which requires difficult trade-offs among industry, financers, citizens, nongovernmental organizations, and other stakeholders. Once the decision has been made, either get behind CCUS or begin creating the next generation of industry.

2. Create the regulatory, tax, and reporting frameworks that will allow the industry to scale. If CCUS is determined to be a part of the future industrial strategy, frameworks will be re quired. These can include nonfiscal measures, such as regu latory backstops, which involve the private sector when deliv ering solutions involving innovation and risk.

3. Accept that early projects will need subsidies and direct sup port. This doesn’t need to be seen as “picking winners” but rather as priming the pump of the future industry and derisking to help companies more quickly decarbonize their assets.

REGULATORS INVESTORS

Investors can use their clout in the industry to encourage envi ronmental, social, and governance (ESG) policies, and invest ments can ultimately improve the value of CCUS technologies.

1. Insist on bold ESG commitments from the companies they invest in. These commitments should be backed by clear, stan dardized reporting and credible plans that boards can scruti nize. Currently, it is too easy to make promises and too difficult to track whether and how companies are keeping them.

2. Understand how investing in CCUS can create value. Inves tors must actively work to define the structures, vehicles, and value chains that can make the technology investable and how investing can create value. Players that invest in emitters, stor age, and midstream assets can create the pressure needed for equitable risk and value sharing and act as honest brokers in infrastructure decisions.

The importance of deploying CCUS at scale to deliver the net-zero ambitions of the world is no longer in question. The technology will need to play a material role in enabling lower-carbon hydrogen, decarbonizing low-purity point sources, and serving as a future component of the BECCS and DAC industries. But this has been clear for many years, and every scale-up target thus far has been missed. Papers dating back 20 years or more refer to a CCUS industry that is just around the corner. This time needs to be different. Through close collaboration between the public and private sectors; leveraging green premiums, voluntary carbon markets, and CO2 as a feedstock; and continued investor and societal pressure, the industry can begin to mobilize. Whether or not the true ambition of all parties matches the scale of the task at hand remains to be seen.

ADANI GREEN ENERGY FORMS 3 NEW STEP DOWN SUBSIDIARY COMPANIES FOR RENEWABLE ENERGY BUSINESS

“Adani Renewable Energy Holding Four Limited has incorporated 3 new subsidiaries. The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy,”

Adani Renewable Energy Holding Four Limited has incorporated three new subsidiary companies for renewable energy business. In a state ment, Adani Green Energy Ltd (AGEL) said Adani Renewable Energy Holding Four Limited is its own subsidiary and the newly incorporated entities are its step-down subsidiaries. The names of three new subsid iary companies are Adani Renewable Energy Thirty Six, Adani Renew able Energy Forty Limited and Adani Renewable Energy Forty Seven Limited. The subsidiaries were incorporated and registered with the Registrar of Companies, Gujarat at Ahmedabad on October 3, 2022 and are yet to commence its business operations.

SURAT WILL SOON BE KNOWN AS ‘ELECTRIC VEHICLE CITY’, SAYS PM

While addressing a gathering here, Prime Minister Narendra Modi said the city which already has many titles will soon be called ‘Electric Vehicle city’, given the increasing electric ve hicles numbers and public charging stations. He dedicated 25 public charging stations and laid foundation stones for 24 more and hoped that the number would increase to 500. Surat, which has multiple identities like ‘Sonani Murat’, ‘Textile city’, ‘Diamond City’, ‘Setu City’ will soon have another Electric Vehicle city Prime Minister Narendra Modi said here. While ad dressing a gathering here, Prime Minister Narendra Modi said the city which already has many titles will soon be called ‘Elec tric Vehicle city’, given the increasing electric vehicles numbers and public charging stations. He dedicated 25 public charging stations and laid foundation stones for 24 more and hoped that the number would increase to 500. During his two-day visit, Modi is scheduled to dedicate and lay foundations stones for projects worth thousands of crores. It also includes the dream city project of diamond sector, dedicated Sewerage Treatment plant besides others. He promised to start a train from Surat to Kashi with a cargo capacity upto one tonne which will help tex tile industries to transport textile cargos to East Uttar Pradesh. Currently, cargoes are transported through roads. The Centre has approved a power loom mega cluster project for Surat. Once it gets functional, high speed power looms will be opera tional reducing the noise pollution, said the Prime Minister. He also promised to increase the fleet in the Ro-Ro ferry service connecting Saurashtra and South Gujarat through Ghogha -Hazira routes.

Source: PTI

Source: PTI

CENTRE RAMPING UP MEASURES TO INCREASE GREEN HYDROGEN GENERATION: UNION MINISTER

The Centre is ramping up measures to increase volumes of green hydrogen generation, Union minister Bhagwant Khuba said, reiterating government’s commitment for making India carbon-emission free in future.

Khuba, the Union Minister of State for Chemicals and Fertilisers & New and Renewable Energy, said this during the inauguration of the 15th edition of ‘Renewable Energy India Expo’ in Greater Noida. “The gov ernment of India has already set its target of making India carbon emis sion-free in the coming years and industries taking the responsibility so efficiently is definitely going to help us accomplish the aim sooner,” Khuba said. He high lighted that India is “growing vigorously” in the sector of re newable energy and alternative sources such as solar, wind, and electrical

“The government is also ramp ing up measures to increase volumes of green hydrogen generation and the support of industrialists is a boon to flourish in the segment,” the minister said, according to a statement. The three-day event on renewable energy kicked off at the India Expo Mart with over 500 top exhibitors showcas ing more than 750 brands in the sector.

Yogesh Mudras, managing director of Informa Markets in India, said India has emerged as the fourth larg est country in the world in terms of installed renewable energy capacity and registered the highest growth rate in RE capacity addition. “Besides, the 2070 target of net zero carbon emission as committed by Prime Minister Narendra Modi could boost India’s economy by 4.7 per cent above projected baseline and create 20 million additional jobs by 2032,” Mudras claimed.

SAIL’S FIRST ON-GRID SOLAR TREE AT MILLS ADMINISTRATIVE BUILDING

This tree was designed, fabricated and installed through in-house resources using waste structural kept beside shop.

Central Electrical Maintenance department of ISP commissioned SAIL’s first on-grid solar tree on 06.10.2022 at Mills Adminis trative Building. This solar tree was inau gurated by the Director In-charge, Sri B P Singh in presence of all the Executive Directors along with other senior officers and employees. This tree was designed, fabricated and installed through in-house resources using waste structural kept beside shop. This renew able power source is of 8.8kWp Capacity prepared using BiFacial Solar Panels which can even generate power from the lights reflected from the floor. Fabrication of the structural of the tree has been done by M/s. Ferro Struct Engineers Ltd. using rejected structural products. Tree was finally installed with the help of Civil Engineering Department after creation of a PCC foundation. Team of ETL Department under Central Electrical Maintenance also took an initiative to revive the long defunct 160kWp Roof Top Solar PV System of Burnpur Hospital which has resulted in the saving of more than 50,000 rupees in the month of September itself.

Source: PTI

SUPREME COURT SETS ASIDE ORDER CANCELLING ELECTRICITY

DISTRIBUTION LICENSE GRANTED TO JINDAL STEEL POWER LTD.

The Supreme Court has set aside the order of the Appellate Tribunal for Electricity canceling the electricity distribution license granted to Jindal Steel Power Ltd.

While allowing the appeal of Jindal Steel Power Ltd. – Appellant, the Bench of Justice Ajay Rastogi and Justice BV Nagarathna ob served that under the Electricity Act 2003, the appropriate Com mission may grant a licence to two or more persons for the distribution of electricity through their own distribution system within the same area. In this case, appeals were preferred under Section 125 of the Electricity Act 2003 assailing the judgment of the Appellate Tribunal for Elec tricity, New Delhi. By the said judgment, the Tribunal had set aside the order of Respondent No. 1 and canceled the distribu tion licence granted to the Appellant. Senior Counsel Sanjay Sen appeared for the Appellant in Civil Appeal No. 3607-3610 of 2008 and Senior Counsel C.S. Vaidyanathan appeared for the Appellant in Civil Appeal No. 4104-4107 of 2008, Counsel Swapna Seshadri appeared for Respondent No. 1 and Coun sel Raj Kumar Mehta appeared for Respondent No. 2 before the Court. In both the appeals the order of the Appellate Tribu nal was challenged which had canceled the distribution licence granted in favor of the Appellant for the supply of power by the appellant from its captive power plant to the industrial units in Jindal Industrial Park.

The Apex Court referred to the various provisions of the Elec tricity Act including Section 14 which deals with ‘Grant of Li cence,’ and thus noted –

“On a reading of Section 14 of the 2003 Act, it is clear that the appropriate Commission may, on an application made to it under Section 15 grant a licence to any person (a) to transmit electricity as a transmission licensee; or (b) to distribute elec tricity as a distribution licensee; or (c) to undertake trading in electricity as an electricity trader, in any area as may be speci fied in the licence.”

The Apex Court referred to the various provisions of the Elec tricity Act including Section 14 which deals with ‘Grant of Li cence,’ and thus noted –

“On a reading of Section 14 of the 2003 Act, it is clear that the appropriate Commission may, on an application made to it under Section 15 grant a licence to any person (a) to transmit electricity as a transmission licensee; or (b) to distribute elec tricity as a distribution licensee; or (c) to undertake trading in electricity as an electricity trader, in any area as may be speci fied in the licence.”

THE COURT FURTHER OBSERVED-

“…it is noted that the sixth proviso to Section 14 applies to a sit uation where the appropriate Commission may grant a licence to two or more persons for distribution of electricity through their own distribution system within the same area subject to the applicantJSPL complying with the additional requirements. Therefore, it is clear that within the same area, there could be two or more persons for distribution of electricity.” The Court also held that the ‘area of supply’ would mean the area within

which the distribution licensee is authorized by his licence to supply electricity. This ‘area of supply’ must fall ‘within’ a Munic ipal Council or a Municipal Corporation as defined under Article 243 (Q) of the Constitution of India or a Revenue District. The Court thus held, “It is only in an ‘area falling within’ a Municipal Council or a Municipal Corporation or a Revenue District that two or more persons could be granted licence for distribution of electricity which interpretation is supported by the use of the expressions ‘within the same area’ used twice in the sixth proviso to Section 14 of the 2003 Act.” Further, the Court also rejected the argument that the Appellant/JSPL not complying with the prescription in Explanation to Rule 3 of the 2005 Rules as per the terms of the licence cannot be permitted to supply electricity, and therefore, the licence was rightly canceled by the Appellate Tribunal. The Court held, “Since, the ‘area of sup ply’ authorised in the licence granted to the appellant-JSPL in the instant case is the ‘minimum area of supply’, the said appel lant is bound to supply electricity in the said area of supply. The licensee cannot resile from the condition of supplying electricity as per the authorisation of the area of supply indicated in the license. This would also mean that the licensee cannot supply electricity in an area beyond the area of supply authorised un der the license.” Thus, the Court held that the Appellant Tribu nal was not right in canceling/setting aside the licence granted to the Appellant. Accordingly, the Court set aside the impugned judgment of the Tribunal and allowed the appeals.

NEARLY 1.2

MILLION

FARMERS BENEFIT FROM POWER SUBSIDY IN RAJASTHAN

The state government on July 17 last year launched the scheme

The Rajasthan government’s move to pro vide subsidised electricity to farmers under the Mukhyamantri Kisan Mitra Urja Yojana has start ed benefiting the agricultural com munity. Under the scheme, electricity bills of about 750,000 farmers have become zero, said a senior official of the state energy department.

Energy Minister Bhanwar Singh Bhati said this scheme was meant to increase the in comes of farmers and free them from the worry of electricity expenses. The state government on July 17 last year launched the scheme. Bhati said agricultural consumers who had rural meters in the general category benefited. He said consumers were given a subsidy of Rs 1,000 per month on their agriculture electricity bills, going up to Rs 12,000 a year. “In any month, if the electricity bill month is less than Rs 1,000, the balance is adjusted in the coming months in the same financial year, so that farmers get the full benefit of this concession. The agricul ture bill of marginal and medium farmers has become almost nil,” the minister said. Principal Secretary (Energy) Bhaskar A Sawant said from the launch of the scheme till August this year, around 1.275 million agricultural consumers had been provid ed an additional subsidy of approximately Rs 1,324.47 crore.

Kailash Chand Meena, a farmer from Dausa district, said: “Before the Mukhyamantri Kisan Mitra Urja Yojana, I used to pay Rs 10,000-12,000 a year for electricity. After Chief Minis ter Ashok Gehlot launched this scheme, my electricity bill has become zero. Now I can use the money for other agriculturerelated activities,” Meena said.

START-UP SU-VASTIKA SOLAR RECEIVED A PATENT FOR ITS IOT BASED SYSTEM FROM THE GOVERNMENT OF INDIA

Su-vastika, a startup led by Ms. Khushboo Sachdev, has been awarded a patent by the Government of India for its IoT-based sys tem for multiple battery selection. The firm has been backed by a strong team of tech nocrats who are innovating newer technolo gies and filing patents on the storage, solar, and EV industries. Su-Vastika creates energy storage solutions for a sustainable future. The focus area of the firm is solar energy and backup industries; they plan to further disrupt these business areas by applying for money where their mouth is and backing it up by providing result-oriented technology. Su-vastika is widely considered one of the fastest-growing companies for power storage and power solutions in India, Africa, the Middle East, and South East Asia. Patent on Future charging Technology, which is going to be the future technology as far as chargers are being made for the EV industry, Solar charge controllers, Inverter/UPS chargers, chargers made for drones or any other industrial chargers for Lithium batteries, or future type of Batteries will be launched with the future technologies of the battery. The day’s challenge is that we need to change the inverter/UPS or solar charge controllers if we need to change the battery from Lead Acid to Lithium battery technology. Even people using Electric scooters

which are running on the Lead Acid SMF batteries need to change the charger if they shift to Lithium batteries. This will be the same way for the EV chargers for the cars or buses once the Lithium technology changes to newer technologies like solid state or Sodium batteries every time the new chargers need to be designed and replaced. We have come out with the technology where the chargers are designed with IoT technol ogy and connected with a central server, and the chargers are programmed through the central server, and we can change the program of the charger at any given time so that the fu ture technology battery charging profile can be changed at any given time in the installed charger through the central server.

Source: PTI

PM MODI TO DECLARE GUJARAT’S MODHERA

AS INDIA’S FIRST 24×7 SOLAR-POWERED VILLAGE

Prime Minister Narendra Modi will be declaring Modhera in poll-bound Gujarat as India’s first solar-powered village. Modhera

be India’s first vil lage to become a net renewable energy generator.

- PM Modi to declare Modhera as India’s first solar-power vil lage

- Modhera will be India’s first village to become a net renewable energy generator

- PM Modi will be making the declaration on October 9

By Saurabh Vaktania: Prime Minister Narendra Modi will be de claring Modhera in Gujarat as a 24 x 7 solar-powered village on October 9. Modhera will be India’s first solar-powered village.

“I am happy that Gujarat has once again taken the lead in ful filling the prime ministers vision of generating clean energy. We are committed to fulfilling his resolve of producing 50%

DESPITE

TURBULENCE IN

ENERGY MARKETS, INDIA, U.S. DETERMINED TO TRANSITION TO CLEAN ENERGY: HARDEEP SINGH PURI

The resolve of India and the U.S. to tran sition to “green, clean and sustainable energy” would not be diminished by the turbulence in energy markets, India’s Pe troleum and Natural Gas minister Hardeep Singh Puri has said. The minister’s comments were made, during a press briefing in Washington DC, on the second day of his visit to the American capital, against a backdrop of oil cartel Opec Plus’s announcement of supply cuts and Russia’s ongoing inva sion of Ukraine. Earlier, Mr. Puri held discussions with his counterpart, U.S. Energy Secretary Jen nifer Granholm. This was followed by joint talks under the aegis of the U.S.- India Strategic Clean Energy Part nership (USISCEP), on power and energy efficiency, renewable energy, responsible oil and gas, sustainable growth and emerging fuels and technologies. Dis cussions included electri fication of transport, grid integration and energy storage, indus trial decarbon isation and emerging tech (hydro gen), ac cording to

India’s U.S. Ambassador, Taranjit Singh Sandhu, who briefed the media on Mr. Puri’s schedule. A joint statement that emerged from the USISCEP dialogue said that “amidst the volatility in global energy markets” and COVID recovery as well as climate challenges, the U.S. and India commit to speeding up “a just and sustainable” energy transition. “The Ministers also underscored the importance of ensuring reliable energy supplies to ensure balanced energy markets, including India’s support for the U.S. initiative to release crude oil from the stra tegic petroleum reserves, and the importance of diversifying to clean energy sources,” the statement said. The U.S. has drawn down more than a quarter of its petroleum stockpile since March. President Joe Biden had said that the country would continue the drawdown “as necessary” following an announcement by the Opec Plus oil producers’ cartel that it would be cutting supply by 2 million barrels per day from No vember. The minister had also broached the subject of a U.S. – India ‘green corridor’ during his meetings with Ms Granholm, he said. Mr. Puri met World Bank and International Monetary Fund (IMF) officials and was the chief guest at a reception at India House, the Indian Ambassador’s official residence, with several U.S. government officials and members of the diaspora in attendance. The minister is also scheduled to participate in a business roundtable in Washington DC with representatives from the oil and gas and renewable sectors, organised by the U.S. India Business Council (USIBC) . Mr. Puri is then sched uled to travel to Houston, Texas, for energy roundtables and meetings with CEOs.

will

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said that there is a huge potential of India-U.S. collaboration in the energy sector

of Indias energy requirements through renewable energy by 2030,” said Gujarat CM Bhupendra Patel.

Source: PTI

Source: PTI

IIT MANDI RESEARCHERS USE MICROWAVES TO RECYCLE POLYMERS TO MAKE WIND TURBINE BLADES

Researchers at the Indian Institute of Technology, Mandi have used microwaves to recycle polymer composites to make wind turbine blades in a rapid and eco-friendly manner, according to officials.

This method is rapid and sustainable com pared to currently used methods like land fills and thermal-based recycling, they said. The findings of the research have been published in the Resources, Conservation and Recycling Journal. According to the team, there is a worldwide impetus to adopt renewable sources of energy such as wind energy to overcome the drawbacks of fos sil fuel-based energy. India is the fourth largest installer of wind energy systems and as of July 2022, its total installed wind power capacity was 40.893 GW. Wind power is harnessed through the installation of wind turbines (windmills) in strategic areas in the country. The blades of these wind turbines are made of polymer composites that are polymer systems in which fibres such as carbon fibres and glass fibres are incorporated for strength. “We have devel oped a sustainable microwave-assisted chemical recycling (MACR) process to recycle glass fibre reinforced polymer (GFRP) composite waste. Also, we used microwaves to aid the chemical degradation of GFRP composites with hy drogen peroxide and acetic acid. “Both hydrogen peroxide and acetic acid are eco-friendly chemicals, the former used extensively as a disinfectant or antibiotic and the latter being vinegar,” said Sunny Zafar, As sistant Professor, School of Mechanical and Materials Engineering. Zafar explained that at the end of the service life of the wind turbine blades, the de-commissioned structures made of glass fibres in epoxy polymers are demolished and either landfilled or incinerated. “Both methods of disposal add to envi ronmental pollution and cost. It is predicted that about 2,00,000 tons of composite waste would be generated by wind turbine blades between 2024 and 2034 all over the world. This negates the environmental benefits offered by wind energy. Further more, restrictions on landfill disposal and fluctuating raw mate rial costs could increase the costs of these composites used in wind turbine blades,” he said. The IIT Mandi team has developed a rapid and eco-friendly method to recycle the fibres present in the composites used in making wind turbine blades. “A particular uniqueness of this work was that no harsh chemicals were used in the extraction and the greenchemistry approach was used.

The recycling method that we have developed can lead to a profound shift in recycling technologies, which can help the country move towards a cir cular economy for wind turbine blades,” said Venkata Krishnan, Associate Professor, School of Chemical Sciences, IIT Mandi. The researchers found that the decomposition rate of epoxy in their method was 97.2 percent with recovery of the glass fibres. The recovered glass fibres were tested and their

properties were compared to those of virgin fibres. “The re covered fibres retained nearly 99 per cent of the strength and greater than 90 per cent of other mechanical properties as compared to the virgin fibres,” Krishnan said. Source:“A partic ular uniqueness of this work was that no harsh chemicals were used in the extraction and the green-chemistry approach was used. The recycling method that we have developed can lead to a profound shift in recycling technologies, which can help the country move towards a circular economy for wind turbine blades,” said Venkata Krishnan, Associate Professor, School of Chemical Sciences, IIT Mandi. The researchers found that the decomposition rate of epoxy in their method was 97.2 per cent with recovery of the glass fibres. The recovered glass fibres were tested and their properties were compared to those of virgin fibres. “The recovered fibres retained nearly 99 per cent of the strength and greater than 90 per cent of other mechani cal properties as compared to the virgin fibres,” Krishnan said.

PTI GJS DIV DIV

INDIA AND

FRANCE

RE-ELECTED AS PRESIDENT AND CO-PRESIDENT OF THE INTERNATIONAL SOLAR ALLIANCE (ISA) AT THE THIRD ASSEMBLY OF THE ISA

The Third Assembly of the International Solar Alliance has been attended by 34 ISA Members ministers. 53 Member countries and 5 Signatory and Prospective Member countries participated to the Assembly.

IIndia and France were re-elected as the President and Co- President of the International Solar Alliance (ISA) for a term of two years at the virtual meeting of the Third Assembly held on 14 October. Four new Vice-Presidents were also chosen to represent the four regions of ISA. The representatives of Fiji & Nauru for Asia Pacific Region; Mauritius & Niger for Africa Region; UK & Netherlands for Europe and others Region, and Cuba and Guyana for Latin America and Caribbean Region assumed the vice presidency. The Assembly also approved the initiatives of the ISA Secre tariat in institutionalizing ISA’s engagement with the private and public corporate sector through the Coalition for Sustainable Climate Action (CSCA). Ten public sector organisations in India presented a cheque for 1 million USD each at the assembly. Speaking in the plenary, the President of the ISA assembly, In dia’s Power and New and Renewable Energy Minister, Mr R.K. Singh, appreciated the Alliance Members coming together to work for combating climate change. He welcomed the seventh initiative on heating and cooling to be introduced for discussion in the Third Assembly. Shri Singh said that Solar Energy has come a long way in last 5 years and is now the fastest growing energy source globally. He said, “Solar energy is already con tributing around 2.8% of global electricity ,and if trends were to continue, by 2030, solar will become most important source of energy for electricity production in large part of the world.” The President ISA also mentioned about various activities and programmes initiated by ISA since the 2nd Assembly. He said that six programmes and two projects are now underway cov ering various aspects of solar energy. A robust pipeline of more than US$ 5 Billion has been developed for solar energy appli cations to meet lighting, irrigation, drinking water and produc tive energy requirement of the ISA member countries, which have so far been largely deprived of modern energy services. ISA has aggregated a demand for more than 270,000 solar pumps across 22 countries, more than 1 GW of Solar Rooftop across 11 countries, and more than 10GW of Solar Mini-grids across 9 countries under its respective programmes. Recently ISA has initiated programmes for segregation of demand for 47 million Home Power Systems which will not only meet subsis tence energy needs of the rural households but will also con tribute to improving health services and availability of portable water. The Co-President of the Assembly Ms Barbara Pompili, France’s Minister for Ecological Transition underlined that ISA played an essential role to help redirect funding towards re newable energies, particularly in developing countries, and take up the challenge of an energy at the service of all. She re iterated France’s involvement: pointing out that of the 1.5 billion euros of financing France committed for solar projects in ISA member states up until 2022, 1.15 billion € has been committed to concrete projects. France has also supported the collabora tion with the World Bank to mobilise financing: a facility “Sus tainable Renewables Risk Mitigation Initiative” (SRMI) should help mobilize 18 billion € in private investment to finance more than 10 gigawatts of solar projects, and a first project is be ing launched in Mozambique with the support of France and the European Union. She further announced that, in the frame of the ISA Star-C programme, the French National Institute for Solar Energy (INES) will very soon launch a specific pro gram for the small island states of the Pacific. The President of COP26, Mr Alok Sharma, recalled the commitment

of the United Kingdom to fight climate change. The UK planned to phase out coal within the next five years and to bring all greenhouse gas emissions to net zero by 2050. COP26 Presi dent discussed 5 key priorities:adaptation and resilience, na ture, energy transition, accelerating the move to zero-carbon road transport, and finance. He invited all the Members to par ticipate to the global climate summit on 12 December to mark fifth anniversary of Paris Agreement. Mr Alok Sharma stressed the UK’s three commitments to the ISA: providing a platform for the Alliance during the COP26; supporting a feasibility study on the implementation of a World Solar Bank; and assisting the ISA Secretariat on the implementation of the One Sun One World One Grid initiative by providing human and financial re sources. For the first time since the inception of the framework agreement of ISA, Solar awards were conferred on countries of the region as well as institutions working for solar. The assem bly witnessed the conferment of the Visvesvaraya award which recognizes the countries with maximum floating solar capacity in each of the four regions of ISA. The awards went to Japan for the Asia Pacific region and the Netherlands for Europe and Others region. The Haryana Chief Minister, Shri M. L. Khat tar announced the Kalpana Chawla awards named after the American astronaut of Indian origin, toDr.Bhim Singh from IIT Delhi (India) and Dr.AaeshaAlnuaimi from Dubai Electricity and Water Authority (United Arab Emirates. The awards recognise outstanding contribution of scientists and engineers working in the field of solar energy. Mr. Mahendra Jain, Additional Chief Secretary to the Government of Karnataka, announced the awards named after Bharat Ratna M. Visvesvaraya to the rep resentatives of the countries of Japan for the Asia and the Pa cific region and the Kingdom of the Netherlands for Europe and other region. The award carries an amount of 12,330 USD as prize money, a scroll and a certificate. The Diwakar award in stituted by ISA out of the contribution made by India’s Minister for Railways and Commerce & Industry, Shri PiyushGoyal of 25,000 USD received by him from the University of Pennsylva nia, has been awarded to Arpan Institute (Haryana) and Arushi Society. The award recognizes organisations & institutions that have been working for the benefit of differently-abled people and have maximised the use of solar energy in the host coun try. The ISA assembly was presented the report prepared by the World Resources Institute (WRI). The report identifies the sources of funds, opportunities and constraints, in scaling up solar investments and the contribution of ISA in assisting Mem ber countries. The assembly welcomed the move of the ISA to work with WRI to develop a roadmap for mobilization of USD 1 Trillion by 2030. The Kingdom of the Netherlands, Bloomberg Philanthropies, Bloomberg New Energy Finance andClimate Works Foundation providing the required financial and techni cal assistance for preparation of the Roadmap. The roadmap will also analyse the potential for mobilising further investments in solar energy going beyond solar power projects to solar en ergy applications in transportation and cooling and heating and for implementing the vision of One Sun, One World, One Grid. In the wake of the global pandemic, ISA responded by setting up ISA CARES, an initiative dedicated to deployment of solar energy in healthcare sector in LDC/SIDS ISA Member coun tries. The initiative aims to solarize one primary health sector in each district of the target Member countries. Australia has provided AUD 92,000 for the ISA CARES initiative in the Pacific to provide ongoing reliable solar energy for health centres in

the Pacific, helping remote island communities reduce reliance on costly and uncertain diesel fuel imports. Recognizing that there is a growing demand globally for cooling and heating utilities, the ISA Secretariat has launched launching a Seventh Programme on Solarizing Heating and Cooling systems, which significantly draws it energy from traditional power sources. Demand for cooling alone outpaced solar deployment in 2017. Heating and cooling systems have scope to directly convert solar radiation and at higher efficiency levels. Other initiatives presented to the Assembly were the demand aggregation ini tiative for 47 Million Solar Home Systems and 250 Million LED Lamps in ISA Member Countries launched in August 2020. SAARC Development Fund Technical Assistance of USD 0.5 Million to Five Prospective Member and Member countries of the ISA- The Technical Assistance is proposed to be imple mented jointly with the Asian Development Bank. IBSA Facility Technical Assistance of USD 2 Million for deployment of Solar Water Pumping Systems demonstration projects in ISA Mem ber countries, in partnership with UNDP, under the Solar Pump Programme of the ISA. The membership of the ISA has con tinued to grow since the Second Assembly in 2019. The ISA is now proudly supported by 68 member countries, and a further 20 countries are in the process of becoming members. The ISA has recently signed a tripartite agreement with the World Bank and the Government of India and is now actively involved in preparing a vision and implementation plan for One Sun One World One Grid Initiative to harness the power of inter-connect ed grids for enabling energy transition to a low-carbon world. In 2020, the ISA Secretariat has focussed on operationalising the ISA Solar Technology and Application Resource Centre (ISA STAR C) network, working with the United Nations Industrial Development Organization (UNIDO) to do so. Since the Sec ond Assembly, ISA has commenced operationalisation of

the STAR C project, including working closely with UNIDO to develop the operational framework and project document un derpinning this project; Convening a consultation workshop on the development of the ISA STAR-C project in Paris from 25 to 27 February 2020, generously hosted by the Government of France; Developing the program for and launching the STAR C Webinars (the Solinars) to support the capacity development of ISA Members during COVID-19 – reaching approximately 450 people to date – with more sessions planned. The ISA is an initiative that was launched by the Prime Minister of India and the President of France on 30 November 2015 at Paris, France on the side-lines of the COP-21. The overarching objective of the ISA is to collectively address key common challenges to the scaling up of solar energy in ISA member countries. It also aims to undertake joint efforts required to reduce the cost of finance and the cost of technology, mobilize investments need ed for massive deployment of solar energy, and pave the way for future technologies adapted to the needs. ISA has been po sitioned to help create the conditions that would make funding, developing and deploying solar applications on a large scale a reality. ISA is perceived as a key organisation working towards achieving the 2030 Sustainable Development Goals and objec tives of the Paris Agreement on Climate Change. The First As sembly of the ISA was held from 2 to 5 October 2018 in Greater Noida, India and was inaugurated by Mr. Narendra Modi, Prime Minister of India and Mr. AntónioGuterres, UN Secretary Gen eral. The Second Assembly of the ISA was convened from 30 October to 1 November 2019 at New Delhi, India. 78 countries participated in this Assembly. The Third Assembly of the ISA will be convened o 14 to 16 October 2020 in virtual mode.

EV FAST-CHARGING CORRIDORS NOW ON HIGHWAYS TO CHENNAI, COORG

Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 Company on

the southern region of India i.e. Bengaluru-Chennai and Bengaluru-Mysore-Coorg Highway,

The fast chargers follow the CCS-2 protocol and are strategically located at nine of its fuel stations with an approximate distance of 100 Km on both sides of the routes. BPCL plans to provide CCS-2 EV charging stations at its fuel pumps at periodic inter vals on all major national highways con necting major cities and economic centres in the country. The Chennai-Trichy-Madu rai highway was part of the first phase. The installation of 25 KW fast charger will enable customers to discover and charge their EVs in about 30 minutes to enjoy travel range of upto 125 Km along with the convenience of BPCL’s user friendly payment mobile ap plication HelloBPCL. The fast charger can be self-operated without any manual assistance, however support staff help will be available, if and when needed. Speaking at the launch of the EV FastCharging Corridors, Executive Direc tor In-charge (Retail), BPCL, P S Ravi said, “The growth of Indian electric vehicle market has been significant over the years and the launch of our EV Fast-Charging Cor ridors on the Bangalore-Chennai Highway and BangaloreMysore-Coorg Highway is aligned with India’s EV dream of transitioning to cleaner alternatives. Our leading edge in pro viding “superior” solution and experiences will serve our EV customers along the two new corridors and will provide a Pure for Sure experience in this exciting journey of electric mobility.”

With the announcement of the launch, BPCL aims at acceler ating its focus on new business segments and converting its 7,000 conventional Retail Outlets into Energy Stations provid ing multiple fueling options, which will also include EV charging facility, in the medium to long term. The Bharat Petroleum fuel stations offer the consumers with added convenience of clean and hygienic washrooms, cash withdrawals, safe and secure parking while charging, free digital air facility, 24 hour opera tions and much more. Select fuel stations also offer Nitrogen filling facility. Several of Bharat Petroleum’s highway fuel sta tions also offer hygienic food through its strategic alliances with leading brands such as McDonald’s, A2B, Cube Stop, Café Coffee Day and other local outlets. Bharat Petroleum has also planned to roll out its chain of In and Out convenience stores at key fuel stations on highways for added convenience to its customers.

Source: PTI

INDIA’S HYDROGEN CELL TECHNOLOGY WILL BE CHEAPEST IN THE WORLD: MINISTER

India’s hydrogen cell technology will be the cheapest given the low cost of solar power in the country, said

Singh, the minister of state for road transport and highways on .

Speaking at the national conference on elec tric mobility organised by Assocham, Singh said the government is supporting the growth in the manufacturing of several alternative sources of energy. “Where hydrogen cell is concerned we have been pretty well off…In dia is gifted because solar prices being what they in India, our hydrogen cell technology will be the cheapest when it comes to the market,” he said. Hydrogen can be produced from solar energy water electrolysis using solar generated electricity or direct solar wa ter splitting. The minister also said that in the space of EVs all stakeholders should work together and India has the capabil ity to become the supplier of EVs globally “We must work on developing the ecosystem, nothing can come up in isolation. We have the capability, the market for e-mobility is taking off globally. The earlier we start realizing our capabilities, the bet ter it is for us. We can become the supplier right at the begin ning rather than playing catch-up”, he said. Singh further said: “The government supports the transition to electric mobility. We need to look at possibilities and in intra-city travel we can conc-

entrate on electric mobility. We need a public transport system that is not only cheaper but is better and attractive enough for people to opt for it. Longer travel on inter-city routes is restric tive right now due to concerns of battery range and availability of charging infrastructure.” Addressing the event, Tarun Ka poor, advisor to the prime minister said that both India’s en ergy needs and the transportation will grow. Noting that the transport sector accounts for 30-35% of energy consumption he said that it contributes about 17% to the greenhouse gas emissions.

Source: PTI

announced the launch of EV Fast-Charging stations on two corridors in

revealed at an event in Bengaluru.

VK

PM LAYS THE FOUNDATION STONE OF TWO HYDRO PROJECTS IN CHAMBA, HIMACHAL PRADESH

The Prime Minister laid the foundation stone of two hydropower projects – the 48 MW Chanju-III

Hydro-electric Project.

T Ihe Prime Minister, Shri Narendra Modi laid the foundation stone of two hydro power projects and launched Pradhan Mantri Gram Sadak Yojana (PMGSY)-III in Chamba, Himachal Pradesh. Addressing the gathering, the Prime Minister remarked that two days ago he was visiting the city of Mahakal, and he has come to the refuge of Mani Maheshwar. The Prime Minister also recalled the let ter received from a teacher from the area who shared details of Chamba with the Prime Minister. The letter was shared by the Prime Minister in Mann ki Baat. The Prime Minister ex pressed happiness that he got the opportunity to launch mul tiple projects on road connectivity and employment generation for Chamba and other remote villages. Remembering his days in Himachal Pradesh, the Prime Minister mentioned that, the adage that ‘Pahad ka Paani aur Pahad ki Jawani Pahad ke Kaam nahi aati’ i.e. Youth and water of hills is not used for hills, is changing. “Now the youth of hills will play an active part in the development of the area”, he said. Chief Minister of Hi machal Pradesh, Shri Jai Ram Thakur, Governor of Himachal Pradesh, Shri Rajendra Vishwanath Arlekar, Union Minister of Information & Broadcasting, Shri Anurag Singh Thakur, Mem bers of Parliament, Shri Kishan Kapoor, Ms Indu Goswami and BJP State President, Shri Suresh Kashyap were those present on the occasion among others.

The Prime Minister laid the foundation stone of two hydropower projects – the 48 MW Chanju-III Hydro-electric Project and the 30 MW Deothal Chanju Hydro-electric Project. Both these proj ects will generate over 270 million units of electricity annually and Himachal Pradesh is expected to get annual revenue of around Rs. 110 crores from these projects. The Prime Minister also launched Pradhan Mantri Gram Sadak Yojana (PMGSY) – III in Himachal Pradesh for the upgradation of around 3125 kilometres of roads in the state. More than Rs. 420 crores has been sanctioned by the Central Government under this phase for the upgradation of 440 kilometres of roads in 15 border and far flung blocks of the state.

UP GOVT ANNOUNCES NEW EV POLICY, OFFERS INCENTIVES TO BUYERS, MANUFACTURERS

The UP government said the new policy will provide a three-pronged incentive

n a significant development, the Uttar Pradesh gov ernment on launched the New Electric Vehicle Manu facturing and Mobility Policy, 2022, to promote faster adoption of clean mobility solutions and create a con ducive ecosystem for EVs in the state.Also Read – How UP’s New Electric Vehicle Policy Will Benefit Buyers, Manufacturers. Details Inside The state government said the new policy will provide a three-pronged in centive regime that includes benefits to consumers for purchasing EVs; to manufacturers of EVs, batteries and related components; and to service providers developing charging/ swap ping facilities. Also Read – Schools Across Lucknow To Remain Closed Due to Incessant Rain The Yogi Adityanath government said the prime objective of the policy is not only to create an ecofriendly transportation system in the state, but also to make Uttar Pradesh a global hub for the manufacturing of electric vehicles, batteries and associated equipment. Also Read – Schools in This UP District To Remain Closed Till 12 October After Heavy Rains Lash State The policy aims at attracting investment of more than Rs 30,000 crore and generate direct and indirect employment for over one million people, the state government said. With a primary objective to contribute to India’s Net Zero emission target for 2070, the policy also aims to fulfil the state’s aspiration of becoming a trillion-dollar economy by leveraging its potential and opportunities in the EV industry. Since Uttar Pradesh is one of India’s largest consumer markets, the policy also provides attractive subsidies to buyers. This includes 100 per cent road tax and registration fees exemption during the first three years of the effective period of the policy on all segments of electric vehicles purchased and registered in Uttar Pradesh.

Hydro-electric Project and the 30 MW Deothal Chanju

regime that includes benefits to consumers for purchasing EVs.

Source: PTI

Source: PTI

LUTHRA AND LUTHRA ACTS ON 4TH CONSECUTIVE BOND RAISE BY VIRESCENT RENEWABLE ENERGY TRUST

The transaction team comprised Karan Mi troo (Partner) and Pragya Verma (Associ ate). The InvIT currently owns and man ages a portfolio of 14 operational solar projects across 7 states in India and runs primarily with the objective of undertaking investment activities as an infrastructure investment trust under the provisions of the SEBI (Infrastructure Investment Trusts) Regulations, 2014. This is the 4th time that the Firm has acted as a counsel for bond issuance by the InvIT, making it the only Firm in India to have acted as counsel for 4 bond issuances by a renewable energy infrastructure investment trust.

INDIA AND CALIFORNIA AGREE TO COLLABORATE ON ZERO-EMISSION VEHICLES

The world’s most advanced zero-emission vehicle (ZEV) policies. It has an ambitious 100 per cent ZEV mandate by 2035. As part of the collaboration, the University of Cali fornia, research institute Davis Institute of Transportation Studies, established a new India ZEV Research Centre. The Califor nia-India ZEV Policy programme is aimed at supporting ZEV uptake in India, spurring the development of an EV industry in India and contributing to India’s industrial growth. In addition to addressing policy, tech nology, and investment strategies for a ZEV transition, it would identify opportunities for India to emerge as a strategic leader in the global ZEV transition. Announced in Pittsburgh last week on the sidelines of the Clean Energy Ministerial attended by Union Science and Technology Minister Jitender Singh, the California-India ZEV Partnership provides a unique opportunity for sub-national policy design as a lever for vehicle electrifica tion, and importantly, harness the role of states as key labora tories of innovation, in both the countries and the global south, officials said. “While ZEV policies have been implemented in various parts of the world, the State of California is probably the only regional government to have the most comprehensive and oldest ZEV policy ecosystem,” said Deputy Chief of Mis sion, Indian Embassy, Washington, D.C. Sripriya Ranganathan during a round table in Pittsburgh on ‘Accelerating ZEV Transitions: California-India Policy Cooperation’ last week. “The learnings from the California experience along with other regions, would offer India an opportunity to consider a mix of policies that would support the uptake of ZEVs while simultane ously spurring the development of a nascent industry that can bring with it important industrial growth,” she said. According to Ranganathan, this California-India ZEV policy collaboration is very timely and will only further enhance the bilateral co operation between the two countries. It will also elevate the amount of information and research brought to the transporta tion decarbonisation policy process in India, providing an op portunity to engage policymakers globally in well-orchestrated efforts, she said. The role of California as a state government

and collaboration with poten tial other Indian states in ad dition to the Government of India, can provide a unique opportunity to leverage subnational policy design as a key lever for vehicle electri fication targets, and more importantly, harness the role of states as key labo ratories of innovation, she said “There already ex ists a strong precedent for a California-India ZEV Policy Collaboration with similar efforts in other sectors having been done in the past, with collaborations on air quality and electricity sector re forms to name a few,” she noted. “As India prepares to host both the Clean Energy Ministerial and the G20 next year in 2023, this platform presents us a unique opportunity to jointly accelerate ZEV transitions in developing countries including India, and continue to build on our commitment to addressing climate risks in the coming year,” Ranganathan said. According to the India Center for Energy and Transportation of UC Da vis, India has led innovations in public procurement to spur EV adoption in public transportation, and electrification of last mile passenger and freight mobility in cities. “While the two regions have unique differences, such as India’s large portfolio of two and three-wheelers, there are also common challenges such as electrification of hard-to-abate segments including medium and heavy-duty trucks,” it said. A California-India ZEV part nership provides a unique opportunity for sub-national policy design as a lever for vehicle electrification, and importantly, harnesses the role of states as key laboratories of innova tion, in both the countries and the global south, the university said. The California-India ZEV policy programme among other things will showcase best practices in EV adoption from India on international platforms and unlock strategic dialogues on international climate finance for a ZEV transition.

Source: bwlegalworld Source: PTI

Luthra and Luthra Law Offices Banking and Finance team recently advised ICICI Bank Limited, Yes Bank Limited, and India Infrastructure Finance Company Limited in connection with the private placement of up to 1,500 NCDs aggregating to INR 150 crores in 2 series by Virescent Renewable Energy Trust.

India has entered into a collaboration with California for research and innovation in the field of zero-emission vehicles to spur the development of its nascent EV industry and address climate risks.

UMICORE AND POWERCO ESTABLISH JOINT VENTURE FOR EUROPEAN BATTERY MATERIALS PRODUCTION

• Unique cooperation in European automotive industry: Umicore and Volkswagen Group battery company PowerCo to establish large-scale supply chain for sustainable batteries

•Joint venture invests € 3 billion and aims to produce battery materials for 2.2 million fully electric cars per year by the end of the decade

•Headquartered in Brussels, JV will provide Umicore secured access to important part of European demand for EV cathode materials and cover large part of supply for PowerCo’s gigafactories in Europe

•Major milestone to help European Union achieve its Green Deal ambitions

Umicore and PowerCo, the new battery company of the Volkswagen Group, announced the founding of a joint ven ture for precursor and cathode mate rial production in Europe. From 2025 onwards, the joint venture will supply PowerCo’s European battery cell fac tories with key materials. The part ners aim to produce by the end of the decade cathode materials and their precursors for 160 GWh cell capacity per year, which compares to an annual produc tion capacity capable of powering about 2.2 million full electric vehicles. Cathode active materials are crucial for a success ful powertrain transition towards e-mobility as they are the key technological lever for battery performance, as well as the big gest single contributor to overall battery cost. The long-term partnership includes the production of precursor and cathode materials in Europe, which are strategically important input materials central to battery value creation. In addition, Umicore and PowerCo will collaborate on the sustainable and respon sible sourcing of raw materials, an area in which Umicore is an industry leader. Finally, Umicore will be providing refining services to PowerCo and both partners aim to include, at a later stage, elements of refining and battery recycling based on Umicore’s technology and know-how into the scope of the JV. “This partnership further strengthens and diversifies our ex posure to a major player in the EV value chain and marks an important step in the execution of our strategy to set-up value creative partnerships across the battery value. It is also a strong signal of recognition of our product and process expertise and a testament to the success of our strategy to establish sustainable industrial-scale, closed loop battery ma terials value chains in key regions. We are supporting our customers on their path to electrification, right from the start, and are very pleased to partner with Pow erCo and support Volkswagen in their fast transformation to wards sustainable electric mobility.” Mathias Miedreich, CEO of Umicore

of 40 GWh in 2026. Both partners target to grow the JV‘s an nual production capacity to 160 GWh by the end of the decade, based on market and demand development. The production site search is still ongoing. Under the terms of the agreement, both partners will jointly control the JV and will equally share costs, investments, revenues and profits. The JV will give both partners a significant first-mover advantage in the fast-growing e-mobility market in Europe. Together they plan to invest about €3 billion into new materials production capacities. The part nership will provide Umicore with secured access, through firm take or pay commitments, to an important part of the European demand for EV cathode materials at guaranteed value creative returns. It will provide PowerCo, at a significant scale, secure and cost-competitive access to Umicore’s innovative, sustain ably sourced and tailored high-performance battery materials for its unified cell strategy in Europe. It will also allow PowerCo to benefit from Umicore’s proven production capabilities as well as its upstream expertise. The JV is designed to meet both partners’ profitability and return criteria and will unlock, for each side, significant synergies and economies of scale. Umicore’s IP and know-how will be made available through a license agreement

“Through

agreement, we are bringing in our long-standing and proven ex pertise in the battery materials value chain, while gaining secured access to substantial sales volumes. Moreover, the JV will un lock significant cost and operational syner gies with the Umicore Group, hereby strongly contributing to Umicore’s 2030 Return on Capital Employed ambitions

PowerCo CEO Frank Blome said at the contract signing: “The availability, cost and technical performance of battery cells are key requirements for the successful ramp-up of e-mobility. By build ing up substantial production capacities, we are securing the rapidly growing demand for battery-grade materials for our main customer Volkswagen AG in terms of volume and at optimal cost. At the same time, value creation will be localized here in Eu rope and a sustainable, transparent supply chain with high en vironmental and social standards will be created,” Blome said.

PowerCo Chief Procurement Officer Jörg Tei chmann emphasized, “We are consistently en tering the holistic value creation of the battery. A supplier industry for preliminary products on the scale required does not yet exist today. We are changing that through our long-term coop eration with Umicore as global market leader for the key materials used in cell production.”

to the JV to ensure its leading technology position.

Production at the JV is scheduled to start in 2025 to supply PowerCo’s Salzgitter factory and reaching an annual capacity

Thomas Schmall, Group Board Member for Technology at Volkswagen AG and Chairman of the Supervisory Board of PowerCo SE, said at the signing of the JV: “Cathode material is an indispensable strategic resource for battery production, accounting for roughly fifty percent of overall cell value. Immedi ate and long-term access to extensive capacity is thus a very clear competitive advantage. We are setting up a sustainable, transparent supply chain with high environmental and social standards, localizing value creation here in Europe.”

Ralph Kiessling, EVP Energy & Surface Technologies at Umicore:

this

expressed at our recent Capital Markets Day.”

HERO MOTOCORP TO INVEST $60 MN IN ZERO MOTORCYCLES TO DEVELOP E-BIKES

Hero MotoCorp said it will invest $60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles.

The country’s largest two-wheeler maker said it is finalising a collaboration agree ment with the California (US)-based manu facturer of premium electric motorcycles and powertrains. The company’s board has approved an equity investment of up to USD 60 million in Zero Motorcycles, it add ed. Zero Motorcycles is the global leader in electric motorcycles and powertrains. Its consolidated revenue for 2021 stood at USD 60.7 million. Hero MotoCorp noted that it is addressing the electric mobility space through a range of or ganic and inorganic collaboration initiatives and will launch its first electric product, under its emerging mobility brand Vida, on October 7, 2022. The two-wheeler major already has a stake of over 35 per cent in electric two-wheeler company Ather En ergy. Shares of the company ended 2.11 per cent down at Rs 2,534.20 apiece on the BSE.

INDIAN BIOGAS ASSOCIATION GETS INVESTMENT COMMITMENTS

WORTH RS 1,400 CR AT RENEWABLE ENERGY INDIA EXPO

Indian Biogas Association said it has received

The proposed minimum investment per plant ranges between Rs 10 and 50 crore, it added. The association has received 60 confirmations from SATAT (Sustainable Alternative Towards Affordable Transpor tation) LOI (Letter of Intent) holders to set up biogas plants across the country. The maximum applications were received from Uttar Pradesh, followed by Punjab. The Bio-energy pavilion was supported by the Ministry of New and Renewable Energy, Niti Aayog, Punjab and Maharashtra Ener gy Development Agency (PEDA and MEDA). The expo is one of the largest trade expositions and events focusing on renew able energy (bio-energy, solar, and wind) and energy efficiency technologies, including electric vehicles and battery storage. The objective of the exhibition is to encourage the growth of renewable energy in the region through the association of tech nology and product sharing.

AR Shukla, President, Indian Biogas Association, said, “The REI expo is a huge success for the Biogas sector. We have received a record number of confirmations from the industry. The footfall to our Biogas pavilion was almost double our expectations. Uttar Pradesh industry has been receptive to the production of Biogas and the response is overwhelming for the sector. The govern ment’s impetus towards Bio-CNG is commend able and we are looking forward to the government’s support in the initial phase, in the form of Central Financial Assistance,” he added.

“Indian Biogas Association (IBA), an industry association com prising of operators, manufacturers, and planners of biogas plants, announced that Renewable Energy India Expo 2022 has received the commitment of investment worth Rs 1,400 crore,” an IBA statement said.

Gaurav Kedia, Chairman, Indian Biogas Association said, thankful to our partners and Gov ernment for helping us make the Bio-energy pavilion in REI Expo a success. If the promised capacity during the REI is set up by 2025, the current total CBG produc tion is around 1 lakh met ric tons from around 110 plants across India. As per our estimates, the number of plants is expected to increase by a minimum of 500 in the next 2 to 3 years. This will result in an annual CBG production potential of more than 8.5 lakh metric tons, corresponding to an annual savings of more than USD 800 million", Kedia said.

The Indian Biogas Association is the first nationwide and pro fessional biogas association for operators, manufacturers and planners of biogas plants, and representatives from public policy, science and research in India. The association was es tablished in 2011 and revamped in 2015 to promote a greener future through biogas. The motto of the association is “Propa gating biogas in a sustainable way”. The association is working with the German Biogas Association to foster the development of the Biogas sector in India.

Source: PTI

investment commitments worth Rs 1,400 crore at Renewable Energy India Expo 2022.

SOLAR MINI-GRIDS CAN POWER 490 MILLION PEOPLE BY 2030 AT

NEED $127 BILLION INVESTMENT: WORLD BANK

• Current rate of solar mini grid deployment is not enough to achieve universal electrification goals under SDG 7, says a World Bank report

• From $0.55 per kWh in 2018, the cost of electricity generation through this medium has come down to $0.38 per kWh and by 2030 it should further drop down to $0.20 per kWh

• For this, the world will need to generate an investment of $127 billion to help power half a million people by 2030

Calling solar mini grids a ‘core solution’ for closing the energy access gap whose cost of electricity generation has dropped from $0.55 per kWh in 2018 to $0.38 per kWh now, a World Bank report sees these hav ing the potential to serve 490 million peo ple by 2030 for a cumulative cost of $127 billion.

At present, 48 million people globally are connected to 21,500 mini grids with half of being served by solar mini grids, reflect ing an investment cost of $29 billion. At the current pace of planned capacity, 29,400 mini grids are planned with 99% of these in solar PV and 95% in Africa and South Asia worth $9 billion. Over the years with falling costs of key components, introduction of digital solutions, expanding list of mini grid de velopers and growing economies of scale have helped accel erate the deployment of solar mini grids. These are powering life-changing electric appliances as refrigerators, welders, mill ing machines or e-vehicles. However, analysts in the World Bank report Mini Grids for Half a Billion people: Market Outlook and handbook for Decision Makers, count around 733 million people with most of them in Sub-Saharan Africa as still lacking access to electricity. The current rate of growth is not sufficient to reach universal access to electricity by 2030 under Sustain able Development Goal 7 (SDG7). For that, the world will need to have 490 million people served by mini grids with almost all being solar PV driven, for an investment worth $127 billion.

The report writers recommend 5 market drivers to accelerate the industry forward to achieve universal electrification and achieve full market potential of solar mini grids, as the follow ing:

Lower the unsubsidized cost of electricity generated from solar hybrid mini grids to $0.30 per kWh by 2025 and further down to $0.20 per kWh by 2030.

Deploy 2,000 mini grids per country per year with modern mini grids, up from 150 per country per year today.

Providing superior-quality service to customers and communi ties by providing reliable electricity for 3 million income-gen erating appliances and machines and 200,000 schools and clinics.

Raise $127 billion in cumulative investment from all sources, including development funding, and public and private sector funding.

Create mini grid business environments in key deficit nations through light handed and adaptive regulations, supportive poli cies and providing respite from bureaucratic red tape.

“Now more than ever, solar mini grids are a core solution for closing the energy access gap,” said Infrastructure Vice Presi dent at the World Bank Riccardo Puliti. “To realize mini grids’ full potential to connect half a billion people by 2030, sever al actions are needed, such as incorporating mini grids into national electrification plans and devising financing solutions adapted to mini grid projects’ risk profiles.”

JSW ENERGY SPURTS AFTER SUBSIDIARY INKS MOU WITH MAHARASHTRA

GOVT. TO SET UP 960 MW HYDRO PUMP STORAGE

JSW Energy rallied 3.36% to Rs 303 after the company said that its wholly-owned subsidiary, JSW Neo Energy, has entered into a MoU with the Govern ment of Maharashtra for setting up a 960 MW capacity hydro pumped storage project.

JSW Neo Energy, subsidiary of JSW Energy has signed a Memorandum of Understanding (MoU) with the Maharashtra Government for setting up a 960 megawatt (MW) capacity hydro pumped storage project (PSP) viz. Pane (Raigarh) pump storage project in the state of Maharashtra. With rapid addition of renewable energy capacity in the country, development of energy storage solutions such as hydro PSP become essen tial to solve intermittent power supply from renewables. Hydro pump storage is a well-established technology that provides adequate peaking power reserves, reliable grid operation, and energy balancing and storage capacity, the company said. JSW Energy through its green growth vehicle JSW Neo Energy has been expeditiously securing key resources for Hydro PSPs in various resource rich states for projects with a targeted capac ity totalling upto 10 GW. With the signing of the aforesaid MoU, the company has secured resources for approximately 6 giga watt (GW) hydro PSPs with the Governments of various states (Maharashtra, Chhattisgarh, Telangana, and Rajasthan), the company stated in the press release. JSW Energy said that its platform capacity stands at approximately 9.1GW (share of re newables at 65%) including 1.75 GW renewable assets under acquisition from Mytrah and about 2.5 GW of under-construc tion/in-pipeline wind and hydro projects which are likely to be commissioned in phases over the next 12-24 months. Further, the company is well ahead of timelines in achieving its nearterm capacity target of 10GW by FY25, it added.

Prashant Jain, joint managing director and CEO of JSW Energy, said, We are excited to actively participate in the strong prospects of Hydro PSPs in sustainably solving the problem of intermittency of renewable power. In continuation to our target to achieve 10GW of Hydro PSP capacity we are pleased to have signed second MoU with Government of Maharashtra. Our proven excellence in safely building hydro plants and op erating the larg est hydro portfolio in the private uniquely enabled us to develop in the country. The company has set an ambitious target duction in its carbon footprint achieving Carbon Neutrality transitioning towards renew The company has set a target capacity by 2030, with the able energy increasing mately 85%.

Around 2.5 of renewable ergy projects are cur rently underconstruction/ in-pipeline, Wind projects of 1.26 GW tied with Solar En ergy Corporation of India (SECI), are expected to be fully commissioned in the next 12-18 months. Further, the company has received

LoA for 300 MW project from SECI under its tranche XII auc tions and with the acquisition of Mytrah Energy’s 1.75 GW RE assets, total platform capacity will increase to 9.1 GW. JSW Neo Energy, a wholly owned subsidiary of JSW Energy, is a vehicle formed as a part of re-organisation of business to own all the renewable/green and new energy businesses. The com pany is evaluating opportunities to foray into emerging energy businesses of hydro pumped storage, battery energy storage, green hydrogen, and becoming an energy products & servic es company. JSW Energy is one of the leading private sec tor power producers in India and part of the $22 billion JSW Group. JSW Energy has presence across the value chains of the power sector with diversified assets in power generation, and transmission.

S.AFRICA SUBMITS PLAN FOR $8.5 BILLION IN CLIMATE AID, SOURCES SAY

South Africa has submitted an investment plan to donors who have pledged $8.5 billion to accelerate the country’s transition to renewable energy that could serve as a model for other emerging economies, two sources familiar with the matter said.

residency spokesman Vincent Magwenya confirmed the proposal was ready, but de clined to say whether it had been submitted. “A draft of the investment plan, which out lines the investments required to achieve South Africa’s ambitious climate targets, has been finalized and will be shared with key stakeholders before it is submitted to cabinet for approval,” he said. Negotia tors are racing to conclude the deal before the COP27 climate talks in Egypt starting on Nov. 6, as a potential model for other emerging economies seeking to wean themselves off coal. The funds – promised by Britain, France, Germany, the European Union and the United States at climate talks in Glasgow last year, were to be used to kick-start South Africa’s shift from pol luting coal and were mostly offered in the form of concessional loans. The sources, who asked not to be named

reiterated the government position a funding shortage in the deal must be addressed but would not say how big it was. be cause they were not authorized to speak to the press said it was up to donors to comment on the document that has been submitted to them. For donors to release the funds, South Af rica must demonstrate its plan will reduce its carbon emissions by more than it was planning to do under its existing climate commitments. South Africa is the world’s 12th biggest carbon emitter, pumping out 430 mega tonnes of CO2 in 2019, ac cording to latest data that put it five places ahead of Britain, an economy eight times its size. Coal fuels 80% of South Africa’s power generation, making the transition of state utility Eskom to renewables a priority. South Africa aims to subsequently fo cus on becoming a hub for green hydrogen and electric vehicle manufacturing. Moving South Africa’s economy into greener energy will require vast funds, with some analysts estimating at least $250 billion over the next three decades. Magwenya

Source: reuters

NTPC AND GE GAS POWER SIGN MOU FOR DEMONSTRATING HYDROGEN CO

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FIRING IN GAS TURBINES TO FURTHER DECARBONIZE POWER GENERATION

In its efforts to adopt advanced powering technology to decarbonize power generation in India, NTPC Ltd., the country’s largest power generating util ity, and GE Gas Power signed a Memorandum of Understanding (MoU) for feasibility to demonstrate of hydrogen (H2) co-firing blended with natural gas in GE’s 9E gas turbines installed at NTPC’s Kawas combined-cycle gas power plant in Gujarat.

Under this significant collaboration, the two companies will jointly explore the pathways to reduce CO2 emissions from the Kawas gas power plant and further implementa tion at scale across NTPC’s installed units in India. NTPC’s Kawas gas power plant is powered by four GE 9E gas turbines oper ating in a combined-cycle mode and has an installed capacity of 645 megawatts (MW). Further, GE’s advanced E- Class gas turbine portfolio currently can burn up to 100% by volume of hydrogen when blended with natural gas. This capability varies depending on the type of combustion system used. For fuels with over 5% hydrogen by volume, gas turbine accessories need to be eval uated and possibly modified to reliably deliver the fuel to the combustors. In this first-of-its-kind MoU with NTPC in India, GE Gas Power will evaluate the possible modifications in the gas turbine unit and auxiliaries required for blending H2 with natural gas. There after, a pilot project for 5% Co-firing of hydrogen may be implemented at the Kawas gas power plant in a safe environment based on the feasibil ity report. NTPC shall provide H2 required for the project. “NTPC, with a large fleet of power generation facili ties delivering more than 70 GW across India, has been at the forefront when it comes to piloting new hy drogen-related initiatives. NTPC is committed to playing a key role in India’s energy transition journey as the country marches ahead to achieve the net-zero target and climate goals. In parallel,

it’s crucial to invest and effectively utilize the proven technol ogy that can generate electricity, which is affordable, acces sible, and reliable. This MoU is among the steps we are taking in the direction to meet the objectives of the National Hydrogen Mission. As our collaboration with GE grows deeper, we are more focused to use advanced technology and leverage our gas power assets with a higher percentage of zero-carbon fu els such as H2, as the availability of the fuel becomes viable.” said, Ujjwal Kanti Bhattacharya, Director (Projects), NTPC Ltd. “India’s power landscape is strengthened by the emerging technologies that are at various stages of development and industrial competitiveness. Hydrogen has a significant poten tial to play a complementary role along with other low-to-zero carbon fuels in generating elec tricity at scale. We applaud NT PC’s leadership, commitment, and investment in hydrogen that can further set new indus try benchmarks in terms of discovering low-cost hydrogen industry going forward and achieving energy self-reliance.” said Deepesh Nanda, CEO, GE Gas Power South Asia.

TRITON EV ISSUES RS 8,060 CR LOI TO BHARAT ELECTRONICS FOR PURCHASE OF BATTERY PACKS

BEL has also signed a memorandum of understanding (MoU) with Triton Electric Vehicle for manufacture of Hydrogen Fuel Cells by BEL with technology transfer from TEV to meet the requirements of the Indian market and mutually agreed export markets.

lectric vehicle maker Triton Electric Vehicle India has issued a letter of intent to defense public sector unit Bharat Electronics for the procurement of battery packs for its semitruck project in India at an estimated value of Rs 8,060 crore, according to a regula tory filing. The 300 kilowatt lithium-ion bat tery packs are to be delivered by Bharat Electronics (BEL) to Triton in 24 months commencing from January 2023, the filing stated. “Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, USA issued a let ter of intent to Navaratna Defence PSU Bharat Electronics for procurement of 300 KW Li-Ion battery packs for its semi-truck project in India at an estimated value of Rs 8,060 crore,” the filing said. BEL chairman and managing director Dinesh Kumar Batra received LoI from Triton Electric Vehicle LLC CEO and Founder Himanshu B Patel at Defexpo 2022 in Gandhinagar. “The purchase order for first-off quantity with 100 per cent ad vance payment has been handed over to BEL by Triton. BEL will deliver the first-off quantity by November 2022. The battery packs will be manufactured at the Pune unit of BEL,” the filing said. BEL has also signed a memorandum of understanding (MoU) with Triton Electric Vehicle for manufacture of Hydrogen Fuel Cells by BEL with technology transfer from TEV to meet the requirements of the Indian market and mutually agreed ex port markets. TEV has set up its R&D centre and manufactur ing facility in India. It has recently forayed into Hydrogen-run vehicles and started the journey of manufacturing Hydrogenrun two-wheelers, three-wheelers and buses. “The MoU aims at tapping the demand for clean energy solutions for various applications including E-Mobility by leveraging government of India’s thrust for adoption of clean energy fuels for applications in transport, energy storage etc,” the filing said.

FLOATING SOLAR PROJECT IN MAHARASHTRA:

SJVN BAGS 105 MW WORTH RS 730 CRORE

The project will be commissioned within 15 months from the date of signing of the Power Purchase Agreement

MAHAGENCO shortly.

tate-owned SJVN on announced that it has won a 105-MW floating solar project worth Rs 730 crore in a e-reverse auction of Maharash tra State Power Generation Company (MA HAGENCO). Nand Lal Sharma, Chairman & Managing Director, SJVN, informed in a state ment that SJVN has obtained a 105-MW float ing solar project through e-reverse auction held by MAHAGENCO. Sharma stated that SJVN bagged the project at Rs 3.93 per unit on Build, Own and Operate basis in tariff based competitive bidding process of MAHAGENCO. He said that the tentative cost for development of this project will be Rs 730 crore. The project will be commis sioned within 15 months from the date of signing of the Power Purchase Agreement which shall be signed

between SJVN & MAHAGENCO shortly. He said, “After com missioning, the project will generate 230 million unit in first year and 5,420 million unit over a period of 25 years. The commis sioning of this project is expected to reduce 2,65,602 tonnes of carbon emission. SJVN is actively contrib uting in efforts of government of India for achieving net zero carbon emission by 2070.” He said that the SJVN is on a rap id expansion and capacity addition jour ney. Present portfolio of the company is more than 42,000 MW and the company is marching forward tirelessly to achieve its shared vision of 5,000 MW by 2023, 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.

which shall be signed between SJVN &

Source: PTI Source: PTI

ATHER ENERGY RAISES $50 MILLION IN NEW FUNDING ROUND

According to regulatory records obtained through business intelligence platform Tofler, electric scooter manufacturer Ather Energy has secured $50 million, with existing backer Caladium Investment serving as the lead investor.

T AThe newest fundraising round included participation from Herald Square Ven tures as well. After the round, insiders with knowledge of the situation esti mated the company’s valuation to be between $700 and $800 million. A source claims that the most recent round is an expansion of its $128 million fundraise in May, which was spearheaded by Hero Moto Corp and India’s National Investment and In frastructure Fund (NIIF), a sovereign wealth fund. The company will increase its manu facturing capacity with the new funds in light of the year’s increased demand for electric automobiles. It is prepared to begin producing at its second manufacturing plant, which has the potential to produce 400,000 units annually. According to sources, the company’s pro jected annual revenue for FY23 will exceed Rs 1,000 crore. The income for FY22 was Rs. 408 crore, which is more than twice as much as the revenue from the year before. According to a source, the corporation has already begun discussions with several stakeholders about opening a third manufacturing lo cation. In July, the business introduced a new version of its 450x scooter with a larger battery. When approached, Ather Energy declined to respond.The most recent funding comes as competition for electric two-wheelers is heating up. On October 7, Hero MotoCorp, the largest investor in Ather, launched its first electric scooter. Industry insiders claim that Ola Electric will introduce another scooter on October 22 for less than Rs 80,000. Ola Electric refrained from commenting on the situ ation. Companies that manufacture electric vehicles are also under fire for attempting to receive the Rs 10,000 crore Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles

in India (FAME)-II subsidy without obtaining the necessary quantity of components domestically. On October 7, it was reported that the government had issued a notice to EV twowheeler manufacturers Hero Electric and Okinawa for failing to adhere to the necessary localization standards. After more than a dozen cars caught fire throughout the summer, the gov ernment is also requiring EV two-wheelers to undergo stricter testing criteria. When ramping up manufacturing for its electric scooters, Ather Energy co-founder Tarun Mehta told ET in May that the business anticipated to secure two fundraising rounds this year. According to Mehta, these two fundraising rounds will likely reduce the valuation gap between the company and its competitor Ola Electric. Ather is not yet a unicorn, meaning a privately owned company with a valuation of $1 billion or more, but Ola Electric is valued at $5 billion.

BEL LAUNCHES A NEW PRODUCT, LI-ION LFP CELL, AT DEFEXPO 2022

BEL in collaboration with NSTL (DRDO), has ventured into Li-Ion cell manufacturing for Defence and e-Mobility applications.

t Defexpo 2022 in Gandhinagar, a new, indigenously developed product of Navratna Defence PSU Bharat Electron ics Limited (BEL), the Li-Ion LFP Cell for e-Mobility, was launched. Li-Ion is the dominant battery technology for e-Mobil ity. Li-Ion LFP (Lithium Iron Phosphate – LiFePO4) chemistry with long cycle life is a safer choice for EV applications. Presently, the Li-Ion cells are imported in India for making bat tery packs. In order to achieve self-reliance in Li-Ion cell manu facturing, BEL in collaboration with NSTL (DRDO), has ventured into Li-Ion cell manufacturing for Defence and e-Mobility appli cations. BEL has established a pilot plant for Li-Ion prismatic cell development and manufacturing. Using raw materials such as Anode, Cathode, Electrolyte, Solvents, Binder, etc, BEL has developed and realized 3 types of Li-Ion prismatic cells namely 3.2V, 10 Ah / 25 Ah. The target applications for these cells in clude Underwater, e-Mobility, Remote Power systems, etc.

Source: PTI

INDIA, FRANCE ADOPT ROADMAP FOR DEVELOPMENT OF GREEN HYDROGEN

The French embassy said the roadmap aims at bringing the French and Indian hydrogen ecosystems together in order to establish a reliable and sus tainable value chain for decarbonised hydrogen

India and France on (October 18) adopted an ambitious roadmap for the development of green hydrogen as part of the efforts to promote clean energy transitions and meet carbon neutrality targets. The French embassy said the roadmap aims at bringing the French and In dian hydrogen ecosystems together in order to establish a reliable and sustainable value chain for decarbonised hydrogen. It said the roadmap was adopted by French Minister of State for Development and International Partnerships Chrysoula Zacharopoulou and R K Singh, India’s New and Renew able Energy Minister. The French minister said the “ambitious and tangible roadmap” will help accelerate “our clean energy transitions and meet our carbon neutrality targets”. Coming a few weeks ahead of COP27, it sends a strong message of our two countries’ com mitment to a low-carbon future, she added. The French embassy said the two countries believe that decarbonised hydrogen holds immense potential as both sides have adopted ambitious national hydrogen strategies. On May 4, on the occasion of their meeting in Paris, President Emmanuel Macron and Prime Minister Narendra Modi gave a clear mandate to foster bilateral cooperation on hydro gen, it said." The adoption of this roadmap delivers on this mandate. It aims to bring the French and Indian hydrogen ecosystems togeth er in order to establish a reliable and sustainable value chain for decarbonised hydrogen and achieve our common goal to be world leaders in decarbonised hydrogen,” the embassy added.

RENEW POWER TO INVEST RS 30,000 CRORE TO SCALE CAPACITY, SAYS CHAIRMAN SUMANT SINHA

reen energy company ReNew Power plans to invest Rs 30,000 crore over the next two years to scale up its solar and wind energy capacities, its Chairman Sumant Sinha said. “We have 5,000 megawatts (MW) of projects that we are building right now. We have won various auctions… Have PPAs (power purchase agreements),” Sinha, who is also the founder and CEO of the company, told PTI. The company plans to spend almost Rs 30,000 crore over the next two years to scale up solar and wind energy capaci ties, he said. ReNew Power, a subsidiary of ReNew Energy Global Plc, is one of the largest renewable energy indepen dent power producers (IPPs) globally. The company currently has an aggregate capacity of 13.2 gigawatt (GW), including capacity already won in competitive bids. Sinha also said his company plans to produce green hydrogen in India. In his In dependence Day speech last year, Prime Minister Narendra Modi had announced the launch of the National Hydrogen Mis sion with a view to aiding the government in meeting its cli mate targets and making India a green hydrogen hub. Union New and Renewable Energy Minister R K Singh had told PTI in September that the mission document is being finalised and is expected to be launched in the next 1-2 months. Sinha, who is also the president of industry body Assocham, had recently

said the govern ment needs to react to the competitive measures various countries are taking to promote green hydrogen man ufacturing as India eyes becoming a global hub of new energy.

Source: PTI

ALTIGREEN PLANS TO RAISE UP TO RS 1K CR NEXT YEAR TO FUND NEXT PHASE OF GROWTH

Reliance Industries-backed electric com mercial vehicle maker Altigreen is looking to raise up to Rs 1,000 crore next year to drive in new models, expand operations in domestic and international markets, according to company Founder and CEO Amitabh Saran. The Bengaluru-based company, which had raised Rs 300 crore from various entities including Reliance earlier this year, is developing electric vehicles to cater to the last mile transportation. In an interaction with PTI, Saran said the company plans to have a national presence with sales outlets spread across the country, including Tier II and Tier III towns. Besides, the company also plans to enter its first inter national market next year, he added. “Currently in the electric space there are no players with a national presence. There are only niche players with a presence in specific regions,” Saran said elaborating on the company’s plans to have a pan-India presence. He noted that the company, with its strong R&D leanings, has already sorted out critical functions like supply chain and production capacity and is now looking to expand the sales infrastructure. Altigreen has already established a pro duction capacity of around 4,500 units a month and now aim to consolidate the sales infra with plans to have 40 dealerships in place across the country by the end of this fiscal, Saran said. The company recently opened a dealership in Delhi, its third overall in the country. When asked how the company plans to fund its future growth, Saran said: “We are in the process of raising more funds…If we get into the four-wheeler segment (commercial vehicles), we are already working towards that, then the requirement is much larger but probably to the tune of Rs 800 crore -1,000 crore.” On the time frame for raising the capital, he noted: “Probably sometime next year and it would be a combination of equity and debt.” The capital would be utilised to fund the company’s next phase of growth where it plans to enter international geographies and add more product lines, Saran said. “In 2023 we plan to be in the first geography outside India..When we created the vehicle (electric cargo

vehicle neEV) we created knowing that we will be selling in India and emerging markets like South Asia, Africa, South America. We are already getting inquiries from these regions,” he added. The company may look at setting up assembly units, ink JV pacts or just forge partnerships in the international markets, Saran said. Emphasising the importance of R&D, he noted that the company has spent years fine-tuning its technol ogy. The company holds 26 global patents in electric technol ogy. Altigreen has prowess in electric motors and generators, vehicle controls, motor controls, EV transmissions, telematics & IoT and battery management. “Using the experience we are coming up with a passenger version of the neEV in the first quarter of 2023…strongly believe the three wheels have not been exploited enough in the country.. There is a difference between three wheels and three-wheeler..three wheels can be used in so many applications in so many ways,” Saran said. He noted that favourable government policies were aiding the growth of electric vehicles, especially in the commercial space. Earlier this year, the company raised Rs 300 crore in a fund ing round. The Series A investment was led by Sixth Sense Ventures, along with Reliance New Energy, Xponentia Capital, Accurant International, USA and Momentum Venture Capital, Singapore.

REPLACEMENT OF FOSSIL FUEL WITH RENEWABLE ENERGY NEEDS PERPETUAL INVESTMENT US EXPERT

The replacement of fossil fuel with renew able energy not only needs perpetual in vestment but also change in the investment decisions, US-based expert Prof John H Perkins said on. He was speaking at the Prof David Pimentel Memorial Lecture dur ing the ongoing three-day Indian Ecology International Conference on “sustainable agricultural innovations for resilient agrifood systems”, being hosted by Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST)-Jammu, here. He was also of the opinion that the consequences of cli mate change will result in decline of food production resulting in high prices, malnutrition and famine. During the second day of the international conference, three keynote sessions on the themes — Agriculture and For estry on Path Towards Carbon Neutrality; Public Health, Food Security and Safety; Genetics Innovations for Climate resilient Agri-food systems — were held in which speakers from across

the world deliberated on different topics. Dr Alice C Hughes from Hong Kong discussed exploring synergies between bio diversity and carbon across scale. Dr Virender Pal Singh said there is a need to have a fresh look at the research, teaching and extension protocol and develop new ones to suit the cur rent needs. He also said a global bioenergy research support facility needs to be established. Dr Swoyambhu Man Amatya from Nepal said South Asian countries should take a lead role in identifying carbon neutral agro-forestry practices and imple ment them as appropriate. He also said international commit ment needs to be fulfilled in case of agro forestry programmes.

Dr Pratap Singh Birthal, Dr Purnima Menon and Dr Shannon Olsson, speaking during the third keynote session, said nutri tional security should be the top most priority of every nation. Dr Menon said millets can play a vital role in addressing mal nutrition problems but it should be done along with cereals and not in isolation. Prof Matin Qaim from University of Bonn, Ger many deliberated on actual and potential effects of genetically modified crops.

SINENG ELECTRIC JOIN HANDS WITH IMPULSE GREEN IN INDIA

Impulse Green Energy Pvt. Ltd. (IGEPL), a company specializing in providing reliable and customer centric solutions to Indian customers in the field of Solar Industry and Energy Storage, has signed an agreement with Sineng Electric Co. Ltd. (SINENG), a leading global high-tech enterprise specializing in the research and design of power electronic products, manufacturing, PV inverter, energy storage system, power quality control and plant develop ment among other fields.

Under this agreement, IGEPL will pro mote SINENG inverters which are widely adopted in ground mounted, floating, complex terrain along with C&I rooftop and residential projects and fulfil the diverse demands of cus tomers.

“SINENG has been at the forefront of providing solutions to the Solar Industry in India. With more than 6GW installations of Central and String Inverters in India for vari ous customers and the manufac turing plant in Bangaluru, we are committed to increasing our presence and visi bility in the ever-grow ing INDIAN market,” said John Hu, GM International Mar kets. He further ob served, “our agree ment with Impulse Green Energy strengthens our commitment to the Indian Solar Industry. We see IGEPL as a strong and reliable partner to promote our world-class String Inverters to meet the demands from quality conscious customers with their PAN India sales and service network backed up with state-ofthe-art SINENG String Inverters.”

Impulse Green Energy is a young and dynamic organization delivering reliable and customer centric solutions and servic es in the Solar and Energy storage industry. With a pan India sales and service network backed by warehousing facilities at strategic locations and our own custom handling agency, we proudly serve major and renowned customers in the space of Renewable Energy in India today. With new offerings in the field of ‘Solar Trackers’ and ‘Energy Storage’ we are committed to contributing constructively towards attaining the goal of Net Zero Emissions and upholding the ethos of sustainability and conservation.

KSTAR SUPPLIES SOLAR INVERTERS KSG-120CL IN TURKEY RECENTLY

KSTAR’s distribution partner a government-owned enterprise has announced that it is to supply one of Turkey’s largest energy investment companies with solar inverters KSG-120CL under a newly signed supply chain partnership.

The supplier in Turkey, is one of the national largest energy investment companies, en gaged in electricity generation, distribution and turnkey delivery of production facili ties, having to date developed many solar projects across cities. In Turkey, KSTAR’s distributor will help our customers explore and develop more opportunities both local ly and globally. “We’re excited to offer our distributor and commercial owners the smart PV solution KSG120CL, which can generate electricity and bring more ROI for them.” Said Terry Quan, the project manager from KSTAR. “Our partner is a really important supporter to our regional busi ness in Turkey, and through the cooperation, we hope that our partner and KSTAR will build a long-term win-win relationship now and the future.” The KSG-120CL string inverter has a 10 MPPT design for maximum energy harvest. The multiple MPPT capability greatly increases the match between the solar array (PV panels), ESS and utility grids. The MPPT converts a higher voltage DC output from solar panels down to the lower voltage needed to charge batteries. MPPTs are most effective under conditions such as winter seasons, low battery charge and long wire runs. The KSG-120CL delivers a smart I-V Curve function

for improving maintenance efficiency, which is used to check whether the state is good and whether there are shadowing effects, as well as accurate identification of problems, reducing time and cost for manual inspection. The smart I-V Curve func tion is a 100% online solution, improving remote monitoring ca pabilities. The KSG-120CL application scenarios are commer cial and industrial PV power plants. The IP66 design can be used in extremely harsh environments, including temperatures of minus 25 degrees temperatures, through to floating solar plants. To power a green future for customers and partners, KSTAR is devoted to new energy solutions for many years. There is more than 25 GW installation for KSTAR worldwide until now.

INTER- MINISTERIAL MEETING HELD TO REVIEW PARALI MANAGEMENT IN NCR AND ADJOINING STATES

Shri R.K Singh and Shri Bhupender Yadav co-chair the meet ing Shri Singh emphasizes to expedite orders for procurement & use of biomass pellets in TPPs Measures should be taken for expeditious setting up of manufacturing facilities for torrifi cation of biomass pellets to overcome the challenges of sup ply of biomass pellets : Shri Singh A high level Inter-Ministerial meeting under the co-chairmanship of Shri R.K Singh , Union Minister of Power & NRE and Shri Bhupender Yadav, Union Minister of Environment, Forest & Climate Change was held to review the progress of biomass co-firing in thermal power plants along with Parali management in NCR and adjoining states. The meeting was held in the backdrop of the onset of the harvesting season for Kharif crops in the country. Secre taries of Ministries of Power and MOEF&CC, senior officials from MoA&FW, Chief Secretaries of governments of Punjab, Haryana & UP, Chairman-Commission of Air Quality of NCR along with officials of these ministries as well as heads of all power utilities in the NCR region attended the meeting. The meeting also drew participation from important government bodies like CAQM, CEA, CPCB etc. Shri R.K. Singh empha sised that orders for procurement & use of biomass pellets in TPPs must be expedited and at least 5% Co-firing is to be en sured. Shri Singh highlighted that power utilities should make all out efforts to complete the procurement process for existing tenders as soon as possible. He further underlined that till the time supply from the long term tenders is not started, power utilities should start procurement for the short term via alternate methods like commission agents as the harvesting season has already started. Shri R.K Singh also stressed that measures should be taken for expeditious setting up of manufacturing fa cilities for torrification of biomass pellets in different locations to overcome the challenges of supply of biomass’s pellets. Shri Singh further suggested that Principal Secretary (Environment) from each State should act as nodal person for Biomass cofir ing in the state. Shri Singh emphasised that the ministry would put penal provisions on those thermal power plants that do not comply with the MoP’s policy on biomass co-firing. Sufficient emphasis was given on the fact that the health and safety of the citizens was topmost priority and no one has the right to put innocent lives in danger. Shri Bhupender Yadav, Union Minis ter of Environment, Forest and Climate Change welcomed the suggestions. He further communicated that Ministry of Power ( MOP) may think of giving Must Run status for the thermal power stations co-firing biomass. He praised the initiative by MOP in mission mode and remarked that all should support Biomass Mission objective, which is a Mission of Hon’ble Prime minister of the country. It is to be noted that while till FY 202021, only 8 power plants had co-fired biomass pellets, the cor responding number has increased to 39 as on date. In the NCR region, 10 TPPs have started co-firing. As on date, 83066 MT of biomass has been co-fired in 39 thermal power plants across the country totalling to a capacity of 55390 MW. In NCR region, the biomass co-fired is 22,696 MT out of which 95% has been done by NTPC. Further, 99% of the PO in place has been con tributed by NTPC Ltd. It was suggested that other GENCOs should follow the footstep of NTPC for successful implementa tion of Biomass co-firing in the country. On the biomass pellet procurement side, a large no. of tenders have been floated by several power plants. Around 106 MMT of biomass tenders are at various stages of the tendering process. Out of these, order

has already been placed for 43.47 Lac MT of biomass tenders by 35 power plants while tendering process is ongoing for 1064 Lac MT. It was informed that 25 number of offline and online training cum awareness programmes for various stakeholders in the sector including farmers, pel let manufacturers and power plant officials were held. While in the FY 202122, 10 such programs were held in a period of six months, 15 events have already been held in a pe riod of six months in this Financial Year. During the review, it was observed that the target of 5% co-firing of biomass along with coal in TPPs in the country was still far off. However, most power plants have issued long term tenders and the situation is expected to improve when the supply will start in those ten ders. Direction was given to all thermal power plants in NCR region to install bio mass pellet manufacturing plants (tor refied / non-torrefied) in their premises, including the private power companies. GENCOs may also explore to put up plant through Consortium. It was further highlighted that the non-compliance in this regard would be viewed very strictly. CAQM was also communicated to start considering penal provisions on Ther mal Power Plants which are not taking enough steps to curb emissions and not co-firing sufficient quantity of biomass. CPCB informed that financial incentives are to going to be provided for setting up pellet manufacturing plants in the NCR region. Ministry of Agriculture ap prised that the central government

Shri. R. K. Singh Minister of Power & Minister of New & Renewable Energy

Shri.Bhupender Yadav Minister of Labour and Employment

Biomass co – firing in Thermal Power Plants also reviewed

FEATURED

SUNGROW SURPASSES 14GW SHIPMENTS IN INDIAN SOLAR MARKET

Sungrow, the global leading inverter and energy storage system supplier for renewables, announced that it has surpassed 14GW inverter shipments in the Indian market. It takes Sungrow less than one year to complete this achievement as the 10GW record was only made in November 2021.

Fast-increasing shipment indicates Sun grow’s steady expansion and the marketdominating position in India. Currently, the REI 2022 is taking place in India; Sungrow’s announcement of the 14GW+ shipment record will inject more confidence into this country’s RE industry. The development of India’s renewable energy industry is stun ning. The policy supports, combined with the vibrate private investing market as well as technological prog ress make India remain the leader within the global renewable industry. As of May 2022, the total renewable energy capacity in India stood at 159.95 GW, reporting an increase of about 109.4% compared to 2014, the year when Sungrow entered this market. Over the past eight years, Sungrow has shipped over 14GW of inverters cumulatively to India, which were ap plied in many benchmark projects including the 400MW PV plant in the Bhadla Solar Park, Rajasthan, the 250MW Ayana Plant in Andhra Pradesh, India’s largest floating PV plant of 70MW in Kayamkulam etc. Their deliveries satisfy the huge demand for clean electricity driven by rapid growth in the econ omy and population size and increase the national adoption of green energy. In addition, Sungrow also broke several records in terms of shipments over the past few years. It was ranked as the Top 1 inverter supplier in 2021 by JMK Research and Mercom, with over 30% market share. In the first two quarters of 2022, Sungrow continued to be the Top 1 inverter supplier, according to the calculations of Bridge to India and JMK Re search respectively. 30% market share. In the first two quarters of 2022, Sungrow continued to be the Top 1 inverter supplier, according to the calculations of Bridge to India and JMK Research respective ly. Sungrow’s grand shipment record and large market share truly demonstrate that it seized the opportunity created by the boomed market, and followed the market trend to provide the most-wanted solutions. Besides, all these milestones are also constructed on Sungrow’s keen, localized teamwork, compre hensive services and proactive expansion strategies, in which building a 10GW-capacity local factory is one of the greatest. This factory was founded in 2017 and was just expanded to 10GW capacity in March 2022. It is the only company in India which can manufacture all types of inverter equipment and it also creates enormous opportunities for investment attraction and employment. Such strategic significance means Sungrow can reach its global customers with higher efficiency and less lead time, and be able to set more benchmarks for the industry. This step gets the appreciation and recognition of Mr Bhag wanth Khuba, the Minister of State for New and Renewable En ergy, Govt of India. The renewable energy industry is gaining momentum for even more rapid development as the govern ment ambitiously targets to realize 175GW renewable energy installations by 2022 and set an even higher goal of 500 GW by 2030. Sungrow is poised to provide state-of-the-art solutions such as the well-received 1+X modular inverter, SG320HX for large-scale projects, SG125CX-P2 and SG33CX-P2 for the emerging C&I segment, and the innovative liquid-cooled ESS ST2752UX (PowerTitan) to serve the upcoming demand for energy storage. The comprehensive product portfolio has just been exhibited during the REI 2022, gaining massive attention from the industry. In the future, Sungrow looks forward to creat ing more records, setting the benchmark in the RE industry and helping quicken this country’s pace of energy transition for its Net-Zero Goal by 2070.

The development of India’s renewable energy industry is stun ning. The policy supports, combined with the vibrate private investing market as well as technological progress make India remain the leader within the global renewable industry. As of May 2022, the total renewable energy capacity in India stood at 159.95 GW, reporting an increase of about 109.4% compared to 2014, the year when Sungrow entered this market. Over the past eight years, Sungrow has shipped over 14GW of inverters cumulatively to India, which were applied in many benchmark projects including the 400MW PV plant in the Bhadla Solar Park, Rajasthan, the 250MW Ayana Plant in Andhra Pradesh, India’s largest floating PV plant of 70MW in Kayamkulam etc. Their deliveries satisfy the huge demand for clean electricity driven by rapid growth in the economy and population size and increase the national adoption of green energy. In addition, Sungrow also broke several records in terms of shipments over the past few years. It was ranked as the Top 1 inverter supplier in 2021 by JMK Research and Mercom, with over

REI EXPO 2022: A COLLABORATIVE CONGREGATION SPEARHEADING POWERHOUSE INNOVATIONS IN INDIA’S RENEWABLE ENERGY INDUSTRY FOR 15 YEARS

IInforma Market in India’s Crystal edition of the REI Expo opened its doors to attendees till September 30 at India Expo Mart, Greater Noida, Delhi-NCR nforma Markets in India, the country’s leading ex hibitions organiser, launched the Crystal edition (15th anniversary) of Asia’s biggest RE expo, the Renewable Energy India Expo 2022, at the India Expo Mart, Greater Noida, Delhi-NCR. It is consid ered to be one of the most empowering channels of dialogue and discussions about the potential of the renewable energy sector in India. Over 500 top exhibitors showcasing more than 750 brands were present on the show floor. The first day of the REI expo was graced by dignitaries such as Shri Bhagwanth Khuba, Union Minister of State for Chemicals & Fertilisers and New & Renew able Energy, Government of India, Shri Manu Srivastava, Prin cipal Secretary, Government of Madhya Pradesh, Mr Arnaud Lion, Charge’ d Affaires a.i. Embassy of the Kingdom of Bel gium in New Delhi, Ms Karen Klimowski, Acting Minister Coun selor and USAID Mission Director, H.E Mr Cameron MacKay, High Commissioner of Canada in India, Dr Steffen Koch, Min ister and Head of Department for Economics & Global Affairs, Embassy of the Federal Republic of Germany in India, Mr Yo gesh Mudras, Managing Director, Informa Markets in India and Mr Rajneesh Khattar, Senior Director, Informa Markets in India. The REI expo has received overwhelming support from the Indian Bio Gas Association (IBA), Bloomberg New Energy Fi nance (BNEF), National Highway of Electric Vehicles (NHEV), World Business Council of Sustainable Development (WBC SD), Council on Energy, Environment and Water (CEEW), and Bridge to India (BTI ). The international participation will include United States Agency for International Development (USAID, Indo Latin American Chamber of Commerce ( ILACC ), Clean Tech Business Club and Indo German Energy Forum (IGEF) among others. REI expo saw participation from industry stal warts like Vikram Solar, Cleantech Solar, Adani Solar, Vikram Solar, Huawei, Saatvik, Havells, Waaree, Premier Energies, Sungrow, and Goldi Solar to enhance the attraction of the 15th edition.

Sharing his views on the opening day of the event, Mr. Yo gesh Mudras, Managing Director, Informa Markets in India, said, “The REI expo serves as a perfect platform to celebrate the milestones India achieved in the renewable energy sector. It is an opportune forum to discuss ideas and viewpoints which will shape the future of renewable energy growth on a national and interna tional level. Many companies and stakeholders will be pro moting their latest products and innovations this year. In dia’s achievements speak for themselves in the Renewable Energy (RE) space. The coun try has emerged as the fourth largest installed renewable en ergy capacity in the world and registered the high est growth rate in RE capacity addition across the world. Besides, the 2070 target of Net Zero Carbon emission as committed by Prime Minister Shri Narendra Modi could boost India’s economy by 4.7 percent above projected baseline and cre ate 20 million additional jobs by 2032. This transition needs to be affected in a strategic manner and events like REI will enable the same through deliberations, sharing of market intelligence, intel lectual exchanges, ideological diplomacy, and problem-solving tactics.”

The Chief Guest of the event, Shri. Bhagwant Khuba, Union Minister of State for Chemicals and Fertilisers & New and Renewable Energy, Government of India said, “The government of India has already set its target of making India carbon emission-free in the coming years and wit nessing industries take the responsibility so efficiently is definitely going to help us accomplish the aim sooner. Renewable Energy Expo has intro duced new segments of energy resources and the participation of established experts will undoubtedly lead our country in a better direction. This exhibition will generate massive investment op portunities for industries, promote foreign investments and create awareness regarding the same among consumers. India is grow ing vigorously in the sector of renewable energy and alternative sources, solar, wind, and electrical energy. The government is also ramping up measures to increase volumes of green hydro gen generation and the support of industrialists is a boon to flour ish in the segment.”

The REI 2022 expo has been witnessing equal and widespread participation from renewable energy sections like domestic and international manufacturers, traders, buyers and professionals. Besides, it will also focus on elevating the standards of IPP, Solar Cell, Solar PV modules, Solar panel, Battery, EV Char ger & Infrastructure, Inverter, Component, Dealer/ Distributor, System Integrator, Biomass and Wind. Global presence was the major highlight of the expo. It has earned great and en thusiastic participation from Delegations from Germany, USA, Canada, Belgium & other foreign countries, with Canada, Bel gium & Germany. A Bio Energy Pavilion by IBA and CLEAN – Decentralized Renewables pavilion, CEO Conclave, CTO Forum, Finance Leadership Forum, and REI Awards are some of the intellectually stirring events which will be significant at tractions of the REI expo.

•

TATA POWER REINFORCES COMMITMENT TOWARDS GREEN ECOSYSTEM CONSERVATION ACROSS ITS RENEWABLE SITES

“Act for Biodiversity” conclave

Tata Power, at their first-ever ‘Act for Bio diversity Conclave’, reinforced its com mitment towards ecosystem conservation across its renewable sites spread across 9 states. With a focus on grassland eco system management across its sites, Tata Power will follow a three-pronged conser vation approach with emphasis on clean energy generation while maintaining the ecological balance and contributing to a sustainable livelihood. The initiatives were announced based on the first-of-its-kind study commissioned by Tata Power in collaboration with the Bharati Vidyapeeth Institute of Environment Education and Research (BVIEER), Pune. The study piloted at Neemuch, Madhya Pradesh, close ly evaluated the bio reserve at renewable capacities, recom mended structured management and conservation initiatives. The initiatives were announced at the ‘Act for Biodiversity Conclave’, which the company hosted to bring together impact leaders from Corporate India and the conservation domain to share perspectives on preserving the balance of life on the home planet Earth and discuss actions that can lead to a more harmonious existence of humans with nature. The conclave brought together experts like Mr. Jamshyd Godrej, Chairper son, Godrej & Boyce, Flagship company of the Godrej Group; Ms. Anjali Bansal, Independent Board Director, Tata Power and Founder and Chairperson of Avaana Group; Mr. Nikunja Bihari Dhal, Principal Secretary, Dept. Of Energy, Govt. of Odisha; Mr. Kavinder Singh, MD & CEO, Mahindra Holidays and cur rent Chairman of India Business & Biodiversity Initiative (IBBI); Mr. Manish Dabkara – International Carbon Markets Leader, CMD & CEO at EKIESL; Dr. Arpit Deomurari, Lead Product, Sustain Technologies, Birder, Conservation Specialist, and Spatial Ecologist and multi-Grammy award-winning Indian mu sic composer and environmentalist Dr. Ricky Kej.

Tata Power as one of India’s largest integrated power compa nies embarked on the biodiversity conservation journey with its hydro generation units as far back as 100 years ago in the ar eas of Bhira, Bhivpuri, and Khopoli in the region of the Northern Western Ghats — one of the major biodiversity hotspots in the world. In addition to a diverse range of sustainability initiatives, the company’s flagship biodiversity conservation program, Act for Mahseer completed 50 years in 2021, leading to previously endangered Blue-Finned Mahseer being taken off the IUCN red list. The Biodiversity Conclave witnessed significant con versation on diverse topics like “Business and Biodiversity”, “Ecosystem restoration”, “The use of technology for conserva tion” to name a few. Tata Power has committed to the Science Based Targets Initiative and is on track to achieve carbon net zero before 2045 along with a clear roadmap to achieve Water Neutrality and Zero waste to landfill by 2030. Tata Power is the only Indian utility to co-create the first SDG roadmap for power utilities along with WBCSD and 10 other global power companies

Speaking at the conclave, Dr. Praveer Sinha, CEO & MD, Tata Power said “Tata Power is proud to host the first ever ‘Act for Biodiversity Conclave’, to create awareness on biodiversity conserva tion, and promote responsible actions to achieve a sustainable future. Envi ronment stewardship has always been at the heart of our operations, and at Tata Power, we look forward to collaborating with change-makers and like-minded corporates who are committed to make a positive impact on the en vironment of our planet earth. I am confident that this unique grassland conservation study, will be a major milestone in ensuring sustainable ecosystems around the rapidly growing renewable energy sites, in the wake of In dia’s ambitious 500 GW renewable energy goal by 2030.”

Sharing his views during the conclave, Mr. Jamshyd N. Go drej, MD & Chairperson, Godrej & Boyce said, “Climate change, rapid extinction of several species and eco logical imbalances are facts. However, they are still not given priority. While conversation on biodiversity conser vation is picking up across focused groups, it’s important that each one of us support it. Corporate India has a huge role to play. While indus tries have always been part of the problem, today, we can also be part of the solu tion. At Godrej & Boyce, we strongly believe that it’s important to engage in insightful dialogues and collaboration on climate action with all stakeholders on biodiversity conservation. My hope is that organisations come together to work in every part of India and in every biosphere. Much of what we do on bio diversity conservation will result in clean food sources, clean water sources which are important for growth of our economy. I believe we have a great opportunity to make India biodiversity capital of the world.”

Tata Power has also initiated biodiversity conservation initia tives in Odisha where its Discoms are catering to a consumer base of over 90 lakhs. The company works with Govt of Odi sha to protect and conserve the elephant movement corridors across forest areas of Angul, Dhenkanal, Cuttack, Khorda, Nayagarh, Mayur Bhanj, Keonjhar, Ganjam, and Sambalpur. Along with the Govt, the company is making the corridors safe for the pachyderms by covering bare conductors, raising the heights of the electric installation, and placing interposing poles in both HT and LT networks to increase the clearance from the ground for safe passage of elephants. In addition to the initia tives, special emphasis is placed on enhancing community

• Announces comprehensive grasslands ecosystem conservation initiatives at first ever

Collaborated with the Bharati Vidyapeeth Institute of Environment Education and Research, Pune for first of its kind study to evaluate the Biodiver sity and Bio-resource Potential of Solar Plant sites, piloted at Neemuch, Madhya Pradesh

• The conclave brought together stalwarts from Corporate India, conservation domain, academia and arts & music like Mr. Jamshyd Godrej,Mr. Nikunja Bihari Dhal, Ms. Anjali Bansal, Mr. Ricky Kej, Mr. Kavinder Singh to name a few

awareness and education through various mediums including safety jingles through the public address system, Chaupadi meeting with villagers in concerned areas, and display of public safety awareness at various locations.

Thanking Tata Power for organising the much needed Act for Biodi versity Conclave, Mr. Nikunja Bihari Dhal, Principal Secre tary, Dept of Energy, Govt. of Odisha said, “Govt. of Odisha has so far provided more than Rs. 500 crores of grants to the Odisha Discoms to strengthen the electrical infrastruc ture in the elephant (movement) corridor. So far about 60,000 interposing poles have been erected and more than 1,700 kms circuit of open bare conductors have been replaced by covered ones in these corridors. Presently, work is going on to place another 75,000 interposing poles and to replace more than 3,500 kms circuit of bare conductors with covered conductors. The work is in progress and all the Discoms are working very hard to complete the work on time. This is a unique initiative and we are committed to working with them to ensure that no elephant dies of electrocution.”vcv

The other key highlight of the event was a session on ‘Power of Music’ by multi-Grammy award winner and environmentalist

Dr. Ricky Kej. Commenting on the initiative Dr. Ricky Kej said, The “Act For Biodiversity” event was an inspiring dialogue organized by Tata Power who are making huge strides in conserving our precious biodiver sity. The outcome was clear – businesses need to strive towards environmental sustainability and ensure a better future for all life. In the triple planetary emergency we now face, a ground up movement needs to work together with a top down movement. The top down movement is essential through government legislation, but more importantly, Indian industry needs to self-regulate and lead the world by example.”

The Business and Biodiversity panel saw discussions around the fact that Biodiversity Conservation and sustainability ac tions are not a cost centre, in fact significant positive benefits have been observed from the actions undertaken for biodiver sity. Business disclosure on ESG now has taken centre stage particularly as far as investors are concerned and the trend is continuing, companies that are managing their relations with nature are actually preferred for investments. The session on Ecosystem Restoration – Grasslands are not wastelands re vealed the importance of grasslands in our ecosystem – for the diverse flora and fauna, and the nomadic communities that depend on its resources. Tata Power’s conservation efforts in the Lamkani village and the ongoing research on the palatabil ity, traits and importance of grasslands for the future is a step towards a greener pasture for tomorrow. Aligned to its sustain able development mission Tata Power has recently launched a corporate movement called “Sustainable is Attainable” that aims to propagate and popularize the use of green and clean

energy in the country and to make a sustainable lifestyle ‘at tainable’ for millions of Indians by putting the power to change in their hands through wide-scale adoption of green products and solutions. It hopes to build on energy conservation and the need and adoption of clean energy which can help the country towards energy security and energy independence.

FEATURED

SOLIS BOOSTS INDIA’S TARGET OF RENEWABLE ENERGY DEVELOPMENT

The Renewable Energy India Expo 2022 (REI 2022) concluded its three-day run in Greater Noida, Uttar Pradesh from September 28 to 30, 2022. Solis used the platform to highlight its technical strength by showcasing its hybrid inverter portfolio and intelligent PV

at supporting India’s goal of developing renewable energy.

CATERING TO INDIA’S ENERGY NEEDS

India, as the second most populous country in the world, has an unprecedented demand for electricity, and currently, coal is the main source of energy for the country. However, the chal lenges of insufficient power supply and environmental pollution are relatively serious, and the development of renewable en ergy is the optimal solution to address problem. Going ahead, India is expected to install about 20 GW of new solar capac ity in 2022, including 16.5 GW of utility-scale capacity and 3.5 GW of rooftop PV, according to JMK Research. Additionally, India will invest $223 billion to reach its goal of installing 280 GW of photovoltaic and 140 GW of wind power by 2030. For India’s domestic PV investment target, the intelligent photovol taic solutions brought by Solis, one of the most seasoned and significant producers of string inverters in the world, can well satisfy the needs of the Indian market. Because the products on offer boast of high efficiency, intelligent operation and other promising characteristics, the exhibitors were attracted to stop by and learn.

INNOVATIVE PRODUCTS ON OFFER

This time, Solis brought its single-phase and three-phase PV products for inverter and energy storage solutions to the ex hibition. The products covered a variety of scenarios, from single-phase household inverters S6-GR1P(0.7-3.6)K-M and S6-GR1P(2.5-6)K to commercial and industrial three-phase in verters S5-GC(50-70)K and S5-GC(100-125)K, and the utilityscale Solis-(215-255)K-EHV-5G, etc. Attracting the attention of exhibitors, in addition, was also the energy storage invert ers S5-EO1P(4-5)K-48-P. The intelligent inverters with high reliability, low loss, fast response time and grid-friendly prod ucts displayed by Solis provide product support for the Indian market and supplement the power needs of the customer. The world economy is placing a greater premium on sustainability, green markets. With this view, Solis will continue to adhere to its mission of ‘Developing technology to power the world with clean energy’, while also continuing to provide better solutions for customers and the market as far as photovoltaic power gen eration is concerned. It has pledged to build on its momentum of innovation-driven development, and make sustained efforts in the international new energy market to help curb carbon emissions worldwide.

solutions aimed

INSOLATION ENERGY LIMITED IPO OVERSUBSCRIBES 183.07 TIMES

Initial public offer (IPO) of Insolation Energy Limited (INA) oversubscribed by 183.07 times procuring Rs. 4,057.07 Cr against IPO size of Rs. 22.16 Cr. which is the highest subscription in any BSE SME IPO.

Total no of shares offered for subscrip tion was 58,32,000 equity shares of Rs. 10 each against which bids received for 1,06,76,49,000 shares. NII Category (In cluding QIB) received bids for 41,54,04,000 shares translate in to oversubscription of 150.02 times while RII category received bids for 65,22,45,000 shares translate in to oversubscription of 235.55 times The QIB Investors has placed bid for Rs. 72.48 Cr in the IPO which includes bid from India’s Premiere Bank, Foreign Institutional Investors, Domestic AIF and fund houses. The HNI Investors has placed bid Rs. 1,506.05 Cr in the IPO. One the largest player of Solar Panel manufacturing in India has placed bid for entire subscription in the IPO. Approx 2,17,415 forms has been received in RII category which is amounting to Rs. 2,478.53 Cr Established in 2015, Isolation Energy is mainly engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes as per the demand, from a unit situ ated in Jaipur. The Company sells it product under the brand name of “INA”. The Company also trades in solar power con ditioning units and tall tabular lead acid batteries with solar PV modules as ‘Solar Power Generation System’.

Speaking on the occasion, Ashok Holani, Director Hol ani Consultants said

Speaking on the occasion, Mr. Manish Gupta, chair man of Insolation En ergy Limited said company is overwhelmed by the confidence of the in vestors shown on us. We are committed to perform and try to match the expectation of our investors. Com pany will be among top 10 Solar brands in India both in terms of capacity and sales in next two years.

INDORE’S TOP ENTREPRENEUR – MR. MANISH DABKARA IS NOW

AMONGST INDIA’S TOP 15 SELF-MADE RICH UNDER THE AGE OF 40

•Ranking 13th in the IIFL Wealth Hurun India 40 and Under Self-Made Rich List 2022, Mr. Dabkara ranks amongst the top 500 richest in the country in the combined list of all age groups

•He has climbed 28 spots this year from his ranking last year as the 41st richest in India under the age of 40

•In the full list of the richest across all age groups, he has climbed manifolds to rank 459th this year from the 861st rank last year

•He is the only businessman from the climate change and carbon credit industry in the list and he is also the only industrialist from a non-technology background to be ranked amongst the top

•Mr. Dabkara is globally renowned as the Founder of EKI Energy Services Ltd. – a leading carbon credit developer and supplier in the world

•He was recently also declared amongst the top Fortune’s 40 Under 40 for 2022

Indore based globally renowned entrepreneur Mr. Manish Dab kara, CMD & CEO – EKI Energy Services Ltd. (EKI) has been ranked as the 13th self-made richest in India in the IIFL Wealth Hurun India 40 and Under Self-Made Rich List 2022. With a net worth of INR 3700crores, Mr. Manish Dabkara is now amongst the top 15 richest under the age of 40 in India. Rank ing amongst the Top 500 richest across all age group, 38 years old Mr. Dabkara is an entrepreneur from a humble city in In dore who has been passionately working towards rehabilitating the planet. Mr. Manish Dabkara is the only busi nessman from the climate change and carbon credit industry in the list and he is also the only industrialist from a non-technology background to be ranked amongst the top rich est in the country. He has climbed 28 spots this year to be ranked 13th this year in comparison to his rank ing last year as the 41st richest in India under the age of 40. In the full list of the richest across all age groups, he has climbed manifolds to rank 459th this year from the 861st rank last year. A climate evangelist at heart, it is his dream to build a greener future that ignited him to establish EKI when he was just 25 years old. He founded EKI in 2008 with an objective to lead companies worldwide to a future of net-zero emissions and has since been steering the planet into

a greener future. When he incepted EKI, the global carbon market was still in a nascent stage but Manish’s persistence enabled his entrepreneurial venture to grow manifold while also being instrumental in placing India on the world map of carbon markets. Under his leadership, EKI has grown to become a cat alyst for carbon offsets not only within India but globally as well and has supplied over 180+ million offsets as on date. Today, the company has 3000+ clients across 40+ countries globally. Championing carbon offset solutions, EKI enables businesses across all sectors with strategic plans to reduce their carbon footprint and achieve their climate ambition(s). The company offers an exhaustive bouquet of end-to-end sustainable solu tions for climate change and carbon offsets. It’s offerings in clude consultancy and advisory services for carbon asset man agement and renewable energy certifications & attributes. The company also specializes in driving community based projects like green cooking for efficient cook stoves in rural homes and nature inspired solutions (NbS) for climate action. Today, EKI is India’s first BSE listed company in the realm of climate action and it is the only carbon management company in the world that is listed on the Stock Exchange. With 1000+ projects, EKI is today present in 16 countries including APAC, Europe, South America and Africa amongst others. A subject matter expert in the field of energy, climate change, carbon and quality man agement, Manish is a Certified Energy Auditor & Manager un der Govt. of India’s – Bureau of Energy Efficiency (Ministry of Power). He also has certifications in quality and management from IIM-A, IIM Indore, CII and GIZ, in addition to a Masters in Technology in Energy Management. Manish is also an elected member of the State Council (MP) of Confederation of Indian Industry (CII) for 2022-23 and a recipient of the Rajiv Gandhi Excellence Award 2014 & Certificate of Excellence for Out standing Achievements in Business “Climate Change – Inter national Industry” by Indian Solidarity Council, New Delhi.

JINKOSOLAR’S HIGH-EFFICIENCY N-TYPE MONOCRYSTALLINE

SILICON SOLAR CELL SETS OUR NEW RECORD WITH MAXIMUM CONVERSION EFFICIENCY OF 26.1%

JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the largest and most innovative solar module manufac turers in the world, announced that it has achieved a major technical breakthrough for its 182 mm high-efficiency N-type mono crystalline silicon solar cell.

JinkoSolar has set a new record again with the maximum so lar conversion efficiency of 26.1% for its 182 mm and above large-size monocrystalline silicon TOPCon solar cell. This result has been independently confirmed by the National In stitute of Metrology, China (“NIM”). The R&D department has developed interface defect passivation, highly transparent poly silicon film and ultra thin metallization technologies based on laser dopped selective emitter. These advanced technologies can be applicable to large area solar cells. JinkoSolar’s self-de veloped HOT technologies, and a series of material upgrades were integrated into the cell process to set this new record for maximum conversion efficiency of 26.1%, compared with the record set this April reaching 25.7%.

Dr. Jin Hao, CTO of Jinko Solar Co., Ltd. commented, “We are proud to achieve a major break through in the conversion efficiency of N-type TOPCon cells in less than half a year, breaking the record we have previously set for N-type monocrystalline silicon solar cells. Thanks to the tireless efforts of our talented R&D team for creat ing this important milestone in the innovation of the company’s prod ucts and solutions. We will continue to invest in R&D innovation and mass production capabili ties, and to accelerate the pace of industry upgrading for advanced N-type product. We are confident to provide bet ter returns to our customers with our cutting-edge technology and reliable supply chain.”

INDIAN CARBON

CREDITS

• Not looking to ban credit sales abroad

TO BE SOLD BOTH DOMESTICALLY AND INTERNATIONALLY : MINISTER

• Domestic climate commitment prioritized

India is not looking to ban the sale of its carbon credits abroad but national needs will be prioritized to fulfil the country’s climate commitments, India’s Power and New and Renewable Energy Minister RK Singh said Oct.6 in Delhi. The minister’s state ment marks a shift away from his stated position in August, when he said Indian carbon credit sales would be restricted to the domestic market. We are notlooking to ban [carbon credits],” Singh told jour nalists at a curtain raising event for the Fifth Assembly of the In ternational Solar Alliance. “The ban will only be up to the extent required for our own NDCs [nationally determined contribu tions].” He clarified that Indian carbon credits would be allowed to be sold in parallel in both domestic and overseas markets. “Those carbon credits that go to make up our own NDCs we would wantto keep (for) our selves,” he said. “But anything be yond that can be sold anywhere in the world.” As such, “other countries can look forward to huge quantities of carbon credits being available in India,” he said. The government issued a draft policy for stake holder consultation for a National Carbon Market in 2021. Sources in the government say preparations are on going for a carbon market launch in 2023. India’s lower house of Parliament passed the Energy Conservation (Amend ment) Bill 2022 in August , enabling the carbon market. The bill will now be putto a vote in the upper house when it convenes in November for the winter session. Singh said he expected the billto be passed. “We already have in place some sort of carbon market — we have renewable

energy certificates and we have en ergy saving certificates.We are going to combine these into one carbon credit scheme,” he said. In its updated NDC submitted to the UN Frame work Convention on Climate Change in August, India pledged to reduce the emis sions intensity ofits economy by 45% by 2030 from a 2005 baseline. It also said 50% ofits installed power capac ity would comprise non-fossil fuel based energy sources by 2030.

Indonesia,Papua New Guinea and Hondu ras have planned to ban exports oftheir car bon credits. Platts,part of S&P Global Commodity Insights,assessed re newable energy carbon credits (current year) at $4.20/mtCO2e Oct.6,up 10.5% month-on-month.

WAAREE ENERGIES CATAPULTS INDIA’S GREEN ENERGY SECTOR THROUGH INR 1000 CRORES FUNDING FROM PRIVATE FUNDING

The funding is raised through private investors from the HNI segment and private offices

Waaree Energies Limited, India’s leading solar panel manu facturer, has raised around INR 1000 crore from various inves tors through primary funding. The Promoters also participated in this equity raise at the same valuation. The proceeds will be used for expansion plans of the company to increase its manufacturing capabilities in India from 2GW to 9GW for PV modules, of which 5GW is operational and the balance 4GW is expected to be operational by January 2023. Waaree also has plans for backward integration in the manufacturing of Solar Cells with a capacity of 5.4 GW. Waaree is committed to its growth and expansions plans in the sunrise renewable energy industry and also committed to support our Hon’ble Prime Min ister’s vision to achieve most of the COP 21 climate change goals set for 2030 and carbon neutral goals set for 2070, much before such times. Waaree Energies has recently withdrawn the DRHP filed with SEBI owing to the fund raise.

Commenting on this funding, Mr Hitesh Mehta, Director & CFO, Waaree Energies says, “Waaree Energies has al ways worked towards making India a solar reliant country and has been in line with the Gover’ent’s Atmanirbhar Bharat and Makein India. In our efforts to revolutionize the solar manufac turing sector, we aim to further our manufacturing capacity and expand our offerings and ensure increased employment

opportunities. We have been bullish about creating economi cally viable and easy to adopt solutions for our buyers. Our mis sion has always been to provide practical solutions to augment performance and be the frontrunners of the solar revolution globally.” Waaree recently emerged as the largest exporter of solar panels. It is the lone manu facturer in India, approved by ALMM, of high-wattage panels i.e. 650WP along with 600WP and 540WP from its manufacturing facilities in Su rat, Shree Godijee – Chikhli, Tumb, and Nandigram. Waaree has been rec ognized as “India’s Best Brand” in the solar indus try, by The Eco nomic Times. PVEL, a globally recognized Lab in photovoltaic testing, has recently recognized Waaree amongst the Top Per formers in its 2022 Scorecard validating its product qualities at par with global standards.

GREEN AND RENEWABLE HYDROGEN PRODUCER LHYFE TO DEVELOP 200 MW PLANT IN DELFZIJL, NETHERLANDS

The 200 MW plant will have a production ca pacity of more than 20.000 tons of renew able green hydrogen per year, equivalent to 55 tons per day, which will displace 2,2 Million tons CO2 within 10 years. Lhyfe has already secured the required landplot and the renewable energies connection. Commissioning is planned earliest 2026.

“Delfzijl is an ideal location for renewable green hydrogen production as it has direct access to renew able energies from its offshore wind power plants which are situated off the coast. Groningen is one of Europe’s pioneers when it comes to the energy transition. The region’s goal is to become the leading hydrogen valley of North-Western Eu rope and to build up a complete value chain from production, storage and transportation of green hydrogen. We fully support this development and are proud to be part of the journey”, said Luc Gra re, Head of Central and Eastern Europe at Lhyfe Home to a significant indus trial and chemical indus try, Delfzijl is already a large consumer of hydrogen as a chemical feedstock. That need is set to grow significantly in the future. Lhyfe will be able to support companies in their decarbonisation efforts by supplying them renewable green hydrogen using renewable electricity from the region paired with the electrolysis process. “Renewable green hydrogen as an energy carrier will support the transport of offshore gener ated energy through the country, helping to ease an already congested electricity grid. As such, Lhyfe’s Delfzijl plant will be able to supply green hydrogen throughout the Netherlands, as well as to potential off-takers in Germany and other border ing countries”, said Grare. The Netherlands aims to be one of Europe’s pioneering countries in green hydrogen, rolling out a hydrogen backbone through the whole country. In the near fu ture, old salt caverns will be converted to store hydrogen along the backbone and will secure a steady flow of green hydrogen

to the industrial users in case of days when renewable energy is not available. Lhyfe is working on a rapid ramp-up of the green and renewable hydrogen market in many European countries. It has the ambition to become a leading European green and renewable hydrogen producer, targeting a total in stalled capacity of 3 GW by 2030. To achieve this goal, the company is establishing decentralized hydrogen ecosystems of various plant sizes throughout Europe – including the Delfzijl project. The company is also setting new standards in the off shore hydrogen sector, inaugurating the world’s first offshore renewable green hydrogen production pilot on the 22nd of Sep tember. The project execution is subject to obtaining required operation licences and building permission as well as financial investment decision.

CET. Lhyfe (EURONEXT : LHYFE), one of the world’s pioneers in the production of green and renewable hydrogen, is targeting to build a large-scale hydro gen production plant in the Chemical Cluster Delfzijl, situated in the province of Groningen in the North of the Netherlands.