India's Inox Clean Energy files IPO via confidential route
A newspaper advertisement revealed that India's Inox clean energy filed IPO draft documents with the country’s markets regulator on Friday via the confidential route. Mint, citing PTI news agency, reported that the offering could be worth up to 60 billion rupees. Inox Clean Energy, the latest renewable energy producer, is planning to go public. This follows NTPC Green Energy’s $1.2 billion IPO, which took place in September 2024. As more companies seek to increase investments and expand portfolios, Inox Clean Energy has decided to follow suit.
Britain launches a strategy to expand offshore wind and create jobs
The government announced on Friday that Britain has launched its first onshore wind policy, which aims to increase renewable energy capacity and create jobs in this sector. Britain aims to decarbonise the electricity sector in its country by 2030, as part of its efforts to achieve its climate goals and boost energy security. It also wants to reduce its power costs through a reduction in its dependence on fossil fuels. The government stated that the move could create up to 45,000 jobs. The strategy includes 40 actions that will help to boost onshore projects.
Singapore's renewables use hits record highs as solar output and imports rise
An analysis of the most recent market data revealed that Singapore increased the share of renewables to a new record in May. The country increased renewable imports while accelerating local solar power production. Data from the National Electricity Market of Singapore revealed that domestic solar generation rose in May at its fastest rate since March 2024, and renewable imports increased for a third consecutive month, reaching their highest level in over two years. This boosted the share of renewables to 2,58% in the power mix of the city-state.
EU approves Italian scheme to support energy-intensive industries
Italy's Energy Minister said that the European Commission had approved a scheme by the Italian government to support power-intensive industries as well as a green transition in Italy. Gilberto Pichetto-Fratin, in a press release, said that the Commission considered "Energy Release 2.0" to be compatible with EU rules on internal markets and regulations on state aid. In its first phase, the scheme will offer electricity at a price fixed of 65 euros per Megawatt-hour.
India extends waiver on transmission charges for energy storage projects to June 2028
The power ministry announced on Tuesday that India will waive all inter-state transmission fees for projects involving electricity storage until June 2028. This is in response to the country's ambitious goals of boosting energy storage and achieving its clean energy targets. Power producers are paid by purchasers, who are typically distribution companies. This payment includes transmission charges. The government has announced that it will waive 100% of the…
Trump's budget cuts threaten U.S. jobs in renewable energy
By Carey L. Labor leaders claim that federal tax credits under the former president Joe Biden for green energy production and construction have created an influx of new jobs - inspiring young workers to participate in the U.S. transition towards energy in a rapidly aging sector. "We were slammed, pretty much full employment. Everyone was making plenty money," said Kilton webb, an electrician from Maine who saw his job opportunities skyrocket following a 2022 legislation that created the incentives.
Moroccan utility ONEE awarded $340 million for energy transition
The European Investment Bank and the German state lender KfW have granted ONEE, the Moroccan water and electricity utility, a loan of 300 million euros ($340 millions) to support the integration of renewable energies into the national grid. The package includes 170 million Euros from the EIB, and 130 Million Euros from KfW. According to the utility, this money will be used for the expansion of its electricity transmission system by 730km. ONEE has plans to invest up to $19 billion into its electricity development plan by 2030…
ReNew Energy will set up a $2.57 billion wind and solar project in India
ReNew Energy Global announced on Friday that it would invest 220 billion rupees (2.57 billion dollars) in a hybrid renewable project in eastern India's state of Andhra Pradesh. The company is looking to capitalize on the booming demand for clean energy in the country. The company stated that the project would add 2.8 gigawatts of total energy -- 1.8GW solar and 1GW wind -- to the grid and be able supply power up to 4 hours per day during peak hours. ReNew Energy is the second largest renewable energy company in India, after Adani Green.
Hexa Climate to invest $500 Million in Fortum India Renewables Assets
Hexa Climate Solutions - backed by I Squared Capital - has purchased Fortum's Indian Renewables Portfolio. The company plans to invest $500M to expand their clean energy projects. Hexa announced on Tuesday that the deal included a 100% stake of Fortum India, a portfolio of 206 MW renewables for commercial and industrial use, a pipeline 600 MW projects ready to build, and Fortum India's 40 member team. The deal value was not disclosed by the company, which is based in Gurugram (India). Sanjeev Aggarwal is the founder and executive chair of Hexa.
RWE has ceased offshore wind activity in the United States
RWE's CEO stated in a speech draft published in advance of the annual general meeting that the company has temporarily halted its offshore wind activities in the United States due to the regulatory uncertainty caused by the Trump administration. Markus Krebber's comments highlight the challenges facing European energy companies on the U.S. Offshore Wind Market, which is a major target of Trump’s energy policy. Trump compared wind turbines earlier this year to "garbage". Following a U.S.
UK launches energy security summit by investing in offshore wind supply chain
The UK will host a summit on energy security in London, starting the event by promising to invest 399 million pounds (399 million dollars) into the domestic supply chain of offshore wind projects. After the Russian invasion of Ukraine, 2022, which led to price spikes around the globe and saw the EU try to reduce its dependence on Russian fuels. The UK Government, International Energy Agency and EU Commission President Ursula von der Leyen will host a two-day energy summit in London.
Global Wind Capacity in 2024 Falls Short Despite Reaching a Record
A record 117 gigawatts of wind power capacity was installed worldwide last year, slightly more than in 2023, but far less than needed to achieve goals to decarbonise energy, a report by the Global Wind Energy Council said on Wednesday.WHY IT'S IMPORTANTThe world needs to shift to renewable sources, including wind and solar, to contain global warming.Many organisations, including the GWEC, have said the current rate of progress is not enough. It says a goal…
Coal India will set up a power plant as a joint venture
Coal India will invest 165 billion rupees to build a coal-powered 1,600 megawatt plant in Jharkhand, a state located in eastern India. This investment is needed to meet the growing demand for electricity. On Monday, the state-owned company signed a nonbinding memorandum with Damodar Valley Corporation to build a plant that will consist of two 800 MW units. This plant will be an extension of an existing plant of 500 MW. State-run company also plans to build two thermal power stations in central India's state of Madhya Pradesh, each with a 660-MW capacity.
Prices to fall as demand falls ahead of the holiday
The German wholesale electricity price on Thursday was expected to fall over the four-day holidays due to low consumption. The indication for the next day's working day, which is April 22, was nearly half of the price paid for delivery on Friday. The week-ahead contract in France was priced below Wednesday's closing price. LSEG's research noted a reduction in demand during the holiday season, and that it outweighed the effects of a weakening of wind supply. At 0805 GMT, the German baseload electricity for day 5 was not yet traded.
Masdar, a UAE renewable energy company, has completed the purchase of Terna Energy in Greece
Masdar, the renewable energy company of the United Arab Emirates, announced on Thursday that it had acquired a 100% stake in Terna Energy Greece, following its purchase of a majority share last year. This is a step further in their international expansion strategy. Masdar has increased its presence on European markets over the past few months, in an effort to capitalize on opportunities in a market that is being hit by rising interest rates and debt costs. In November, it acquired 70% of Terna at 20 euros per share in a deal valued at 3.2 billion euro ($3.52 billion).
BPCL and Sembcorp form a joint venture to develop renewables, green hydrogen in India
Bharat Petroleum Corporation, an Indian refiner, signed a joint-venture agreement on Tuesday with Singapore's Temasek backed Sembcorp for the development of green hydrogen and renewable projects in India. According to the companies, the joint venture will also look at projects in green ammonia bunkering and production, emission reduction for port operations, as well as other green fuel technology. The deal is made at a moment when India wants to reduce its dependence on fossil fuels…
IRENA: Global renewable energy capacity still falls short of target despite record growth in last year
The International Renewable Energy Agency's (IRENA) report on Wednesday showed that the global renewable energy capacity grew at a record rate in 2024, but still fell short of the 2030 target. Renewables will account for 92.5% (or 585 GW) of the new energy capacity in 2024, a record growth rate of 15.1%. This brings total renewables to 4,448 gigawatts. The progress is still below the 11,2 terawatts required to meet the Paris Climate Agreement and the global goal that renewable energy installations will triple by 2030. This requires an annual growth rate 16.6%.
Vingroup Vietnam plans LNG and renewable energy ventures
Vingroup, Vietnam's largest conglomerate, announced on Tuesday that it is looking to develop renewable energy sources and liquefied gas power plants. This would be the company's first ventures in the energy sector. The state-run newspaper VietnamNet reported, citing documents the company had submitted to the Government, that the company wanted to be added to a revised national power development plan. Vingroup responded to the request for comment by saying it was "interested and studying this issue" and that more information would be provided at a future date.
Russell: Renewables and gas are gaining ground on coal and oil
The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade. In 2024, the IEA reported that renewable power capacity increased by 700 gigawatts. This was a record-breaking annual increase for a 22nd consecutive time.
Indian firms look to Dutch Royal IHC in order to explore deep sea mineral deposits
Two sources have confirmed that Indian mining and cement firms approached Dutch shipbuilder Royal IHC to ask for assistance in preparing bids for deep sea mineral blocks. India held its first auction of 13 deep-sea offshore mineral blocks in November. These included three construction sand and lime mud blocks as well as seven polymetallic blocks. The blocks are rich in minerals such as cobalt and copper. They also contain manganese and nickel which is vital for solar panels and electric vehicles. The first auction tranche is expected to end by the end March.
