Commodities rallied 21 per cent in the first half of 2021, making them the top performing asset group ahead of U.S., European, emerging market and non-Japan Asian stocks. The broad-based index of energy, agriculture, industrial metals and precious metals rose the same amount as high-flying Bitcoin, which pulled back after hitting its all-time high of […]
The Solar Energy Corporation of India (SECI), under the administrative control of the Ministry of New and Renewable Energy (MNRE), is planning a 2,000 megawatt-hour (MWh) standalone energy storage system which will be executed by the private sector. The state-owned solar energy focused corporation has announced that the projects will be incorporated on a build-own-operate […]
Renewable energy is expanding rapidly but not fast enough to meet the near 5% global increase in electricity demand this year, the International Energy Agency (IEA) warned this week. Carbon dioxide (CO2) emissions from coal used to generate electricity are set to hit record levels in 2022, the IEA added. CO2 is one of the […]
Panasonic Life Solutions, a wholly-owned subsidiary of Panasonic, has commissioned a 7-megawatt (MW) agro-voltaic solar power plant in Maharashtra. The Power Finance Corporation of India has funded the project. The project, located at Degoan in the Dhule district of Maharashtra, is spread over a 50-acres of land. It has been commissioned by Gro Solar Energy, […]
The country’s crude oil import bill has increased 190.6% year-on-year to $24.7 billion in Q1FY22 with rising prices of the commodity in the international market and higher procurement volumes with demand for auto fuels increasing. The volume of crude oil imported in the quarter, at 51 million tonne, was 14.7% higher than the same period […]
The union cabinet approved a sum of Rs 22,500 crore as the central government grant for the installation of 25 crore smart prepaid meters across the country under the Rs 3-lakh-crore scheme for power distribution entities (discoms). The total outlay for smart-metering under the scheme is Rs 1.5 lakh crore, of which the Centre will […]
S&P Global Ratings has downgraded the outlook for Adani Electricity Mumbai (AEML) to negative from stable, mainly over apprehensions that the leverage levels of Adani Transmission (ATL), AEML’s holding company, will rise over the next two years as it undertakes significantly higher spending to grow its asset base. The agency has retained ‘BBB-‘ credit rating on AEML. […]
OPEC leaders Saudi Arabia and UAE might have reached a so-called solution to the current export quota conflict, but it is far from over, say oil market watchers. The high-profile clash between Saudi Crown Prince Mohammed bin Salman and Abu Dhabi Crown Prince Mohammed bin Zayed is not over. Instead, it’s just been pushed aside […]
India’s largest fuel retailer, Indian Oil Corporation (IOC), has announced that it will build the nation’s first green hydrogen plant at its Mathura refinery. This will be the nation’s first green hydrogen unit. Previously, projects have been announced to produce ‘grey hydrogen’ using fossil fuels such as natural gas. This is significant given that Hydrogen […]
Wealthy economies must help with financing India’s energy transition, according to a Bloomberg report, citing India’s Environment Secretary, Rameshwar Prasad Gupta. “Every policy decision has a cost to the economy. Going net-zero or using less carbon also has a cost,” Gupta said in an interview. “We are not anti-net-zero. But without adequate climate finance being […]
