India’s Hero Group renewable subsidiary receives $150 million funding from Masdar

India’s Hero Future Energies (HFE), Hero Group’s renewable subsidiary run by Rahul Munjal, has received $150 million strategic funding from Abu Dhabi Future Energy Company Masdar, reports Ritwik Sinha. Set up in 2012, HFE had earlier raised $125 million from International Finance Corporation (IFC), part of the World Bank. Masdar has now stepped in by […]

Read more

Chhattisgarh says won’t build new coal power plants in the state

The central Indian state of Chhattisgarh, home to the country’s third-largest coal reserves, will not build any new coal power plants, Shailendra Kumar Shukla, chairman of Chhattisgarh State Power Distribution Company, a state-owned utility, told Quartz India. This comes only days after the government in the western state of Gujarat announced it will not give […]

Read more

Renewable capacity growth worldwide stalled in 2018 after two decades of strong expansion, says IEA

32396697542_cf1b730f4e_o.jpg

After nearly two decades of strong annual growth, renewables around the world added as much net capacity in 2018 as they did in 2017, an unexpected flattening of growth trends that raises concerns about meeting long-term climate goals, the International Energy Agency (IEA) said. Last year was the first time since 2001 that growth in […]

Read more

Global energy demand grew by 2.1% in 2017, and carbon emissions rose for the first time since 2014

Russia-Gazprom-1.jpg

Global energy demand rose by 2.1% in 2017, more than twice the previous year’s rate, boosted by strong global economic growth, with oil, gas and coal meeting most of the increase in demand for energy, and renewables seeing impressive gains. Over 70% of global energy demand growth was met by oil, natural gas and coal, […]

Read more

Global carbon reductions need much more than technology advances, says BP

Technology advances alone cannot deliver the carbon reductions needed even though meeting the goals of the Paris Agreement is technically feasible, energy major BP said in a latest outlook. Further action is required, particularly policy measures such as putting a price on carbon emissions, as well as consumers making lower-carbon choices, it suggested. The report […]

Read more