Havells led funding round secures $171 Million for India's Goldi Solar
Goldi Solar, India's largest manufacturer of solar modules, announced on Wednesday that it had raised $142,1,000,000 ($171,000,000) in growth capital, led by the electrical equipment giant Havells India. Shahi Exports and SRF Transnational Holdings are among the high-net worth individuals and companies that invested in this round. The money raised will be used to support Goldi Solar in its manufacturing expansion, and the production of solar cells in Gujarat.
US and Qatar fill the gap left by EU's ban on Russian LNG imports
PARIS/LONDON - According to analysts and data, the European Union can replace Russian LNG imports from 2027 with an alternative supply without any major price shocks. This is due to booming projects being undertaken in the United States of America and Qatar. The EU approved new sanctions on Russia Thursday for its conflict in Ukraine. These sanctions ban Russian LNG imports starting January 1, 2027. This is a year sooner than originally planned.
Energy Traders Steer Shipping Toward Greener Horizons
The maritime industry is charting a new course toward decarbonization, yet this time round it is not only traditional shipowners at the helm. Major energy and commodity traders, whose shipping operations often carry large carbon footprints, are now investing in cleaner and more efficient shipping. With the International Maritime Organization (IMO) calling for a 40% reduction in shipping’s carbon intensity by 2030 from 2008 levels…
Sources say that Western pressure will affect Asian purchases of Russian oil in December.
U.S.-European pressure on Asian buyers could limit India's oil purchases from December. This would lead to cheaper supplies in China. However, Japan is unlikely to stop its Sakhalin LNG shipments at this time, according to trade sources and analysts. Washington has been exerting pressure through trade negotiations on China, India, and Japan to reduce their purchases Russian oil and LNG.
Source: India could cancel 3-4 GW solar tenders to avoid import restrictions.
An industry source said on Friday that at least 3-4 gigawatts in Indian solar projects could be cancelled because the government has directed clean energy agencies reissue bids to bypass import restrictions which will take effect next year. In a circular issued on Friday, the country's renewable-energy ministry asked agencies to cancel and reissue some solar tenders. However…
India warns renewable energy agencies against rushing solar tenders
According to a circular published on the ministry's website, India's Ministry of Renewable Energy has instructed clean energy agencies in India to cancel and reissue bids for government-funded projects that have been rushed to completion to circumvent rules. The majority of Indian companies use solar cells made in China, which are cheaper. However, the Clean Energy Policy of India…
Assam, India scraps its clean energy policy and threatens renewable investment
According to sources familiar with the issue, India's northeastern Assam state has withdrawn its flagship policy on clean energy announced in February. This decision threatens millions of dollars worth of planned investments. Assam, India's largest state, offered financial incentives and tax waivers to encourage investment in a region which has been slow to adopt renewable energy.
Central Indian state achieves record low price for solar plus storage power project
A top official from the central Indian state Madhya Pradesh said that it had secured India's lowest price ever for solar power backed up by battery storage at a clean energy bid. This could change how states purchase power. The official announced on Saturday that CEIGALL India won the tenders for supplying clean energy to Madhya Pradesh, at 2,70 rupees (3 U.S. Cents) per kWh. ACME Solar also won the tenders, but it was only 2.764 rupees/kWh.
EPA wants to hear your thoughts on the full range of options available for US biofuel allocation
The U.S. The Small Refinery Exemption Program offers two options: 50% or 100%. The agency will also ask for comments on any other possible volumes such as 25% or 75%. It is likely that the proposal will not narrow down options, and this will prolong the latest conflict between Big Oil versus Big Farm about how to handle waived obligations for biofuel blends. Both industries are vying to influence U.S. agricultural and energy policy. The U.S.
IEA: Global oil and gas production is declining rapidly, IEA reports
International Energy Agency (IEA) said Tuesday that the decline in oil and gas production from mature fields around the world is increasing due to a greater reliance on deep-ocean and shale resources. This means companies will need to invest even more to maintain output. Donald Trump's administration has criticized the IEA for its recent shift in focus to clean energy policy.
Alaskans fear higher energy prices as Trump drills
Alaskans spend nearly two times as much on electricity as the national average. Matt Goodnow, financial counselor at a hospital located in Homer, Alaska, a fishing village on the Kenai Peninsula, said that higher energy costs would be detrimental to the community. The Trump administration is not only planning to eliminate federal funding for renewable energy projects and to remove tax breaks…
Mitsubishi abandons offshore wind farms in Japan
A senior official in the industry ministry said that Japan wants to re-auction as many offshore wind sites as possible as soon as they can, subject to local community consent. The trading house Mitsubishi Corp announced on Wednesday that it would no longer build wind farms in the prefectures of Akita and Chiba due to rising costs. In 2021, the first state-wide auctions were held to award the rights to construct and operate these farms.
German solar industry warns of ending subsidies after Minister proposes reductions
The German solar industry warned against the proposed end of subsidies for rooftop photovoltaics systems. They argued that withdrawing support from small installations could jeopardize the country's climate targets. Feed-in subsidies have been in place for 25 years to help expand the solar energy sector. They guarantee a price for producers of renewable energy who sell their power on the grid.
Engie, France, reports 9.4% decline in first-half earnings
PARIS, 1 August - French utility Engie reported a 9.4% drop in its half-year earnings Friday as higher revenues from natural gas distribution were not enough to offset lower prices for energy and hydropower. The company's first-half earnings, excluding nuclear operations, were 5.1 billion euro ($5.82 billion), down from 5.6 billion euro a year earlier. "These results are solid…
Japan's JERA Q1 profits down slightly on weaker overseas sales
JERA, Japan’s largest power generator, posted on Thursday a 1% decline in net profit during the first quarter fiscal year 2025, to 92.5 billion Japanese yen (621 million dollars), due to a weaker power generation overseas, including renewable energy. JERA, the joint venture between Tokyo Electric Power (TEP) and Chubu Electric Power (CEP), saw a net profit of 93.4 billion yen in the same time period last year.
Sources say that India's Assam State has halted its green hydrogen policy, a setback for investors.
Government and industry sources confirmed that Assam, a state in northeast India, has put on hold its green hydrogen policy, shocking investors who were already suffering from a reduction of incentives for clean energy project. The largest state in the northeast has tried to attract large investments to a region which has lagged far behind the rest of the country when it comes to renewable energy adoption.
Sources say that India's Assam State has halted its green hydrogen policy, a setback for investors.
Government and industry sources confirmed that Assam, a state in northeast India, has halted its green hydrogen policy, shocking investors who were already suffering from a reduction of incentives for clean energy project. The largest state in the northeast has tried to attract large investments to a region which has lagged far behind the rest of the country when it comes to renewable energy adoption.
GRAINS-Chicago soya beans hover near an 11-week low despite modest recovery
Chicago soybean futures rose on Thursday, but they remained at a low of 11 weeks as favorable weather in the Midwest and selling pressure affected the market. After four consecutive sessions of losses, the most active soybean contract increased 0.05% to $10.00 per bushel. The warm, rainy weather is ideal for corn and soybean crops. The bearish tone was heightened by the selling pressure that preceded the first notice date of the July contracts for soybeans…
Brazil increases biofuels, sees self-sufficiency in gasoline
The Brazilian National Energy Policy Council approved an increase in the amount of biofuels blended into fossil fuels on Wednesday. This move was also hailed by renewable energy lobbyists who had earlier claimed that the blends wouldn't be changed this coming year. Pietro Mendes from the Energy Ministry's Oil and Gas Department announced the changes during a press conference.
EU continues with Russian gas banning proposal despite Hungary and Slovakia's vetoes
Hungary and Slovakia opposed on Monday a planned European Union prohibition on Russian gas imports. However, Brussels is expected Tuesday to propose the legislation, which may pass without their approval. By the end of 2027, the European Commission plans to ban EU imports of Russian gas and LNG. It will announce the legal implementation of the plan announced last month on Tuesday.