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Green H2 mission group's first meeting on May 4
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The first meeting for Green Hydrogen mission, chaired by Cabinet secretary Rajeev Gauba, will be held on May 4 to review and discuss the way forward for India's ambitious Green Hydrogen Mission. It will include deliberations over the requirement of an obligation for the fuel's use in various sectors.
The group includes the Principal Scientific Adviser to the Government of India, Ajay Kumar Sood, NITI Aayog CEO, B.V.R. Subrahmanyam, and secretaries of various ministries - renewable energy, power, fertiliser, oil, road, steel, heavy industries, among others.
The group aims to oversee the mission activities, provide guidance, continuously monitor progress, recommend policy interventions to be made in furtherance of mission objectives and approve mid-course corrections wherever needed.
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India plans to triple auctions for renewable energy projects
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India plans to triple the capacity of auctions for renewable energy projects as part of its efforts to achieve a 500 GW clean energy generation capacity target by 2030. The government has set out a new timeline for striking agreements on installations of a total of 50 GW of solar and wind projects by March 2024.
This target compares with an average of 15 GW of auctions in the last five fiscal years. The auctions will be conducted by state-run power companies Solar Energy Corp. of India Ltd., NTPC Ltd., NHPC Ltd., and SJVN Ltd. with 15 GW of projects to be auctioned in each of the first two quarters of the current fiscal year, with approximately 10 GW offered in both subsequent quarters.
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NTPC subsidiary wins 500MW RE project from REMCL
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NTPC, India's state-run power firm, announced on Thursday that its subsidiary NTPC Renewable Energy (NTPC REL) has won a 500 MW renewable energy round-the-clock project from REMCL, a joint venture of the Ministry of Railways and RITES. This win was acquired through a competitive bidding process. In addition, a Power Purchase Agreement (PPA) will be signed soon to make the project official. The power purchase agreement (PPA) will be signed with REMCL for 25 years.
This is a major milestone for NTPC and a major development in the field of renewable energy in India. NTPC aims to enter hydrogen and energy storage solutions in a big way to diversify its RE portfolio.
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Avaada raises USD 1 billion for funding India’s green ventures & manufacturing solar modules
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Renewable energy "expressway" to enhance power capacity of Mumbai
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Avaada Group, a green energy firm, has raised USD 1.07 billion to fund its green hydrogen and green ammonia ventures in India as part of its ongoing USD 1.3-billion fund raising plan. According to an official statement, Brookfield Renewable, through its Brookfield Global Transition Fund, will be investing up to USD 1 billion in Avaada Energy, an arm of Avaada Group. The Group is also in advanced discussions with potential investors to raise another USD 200 million.
Avaada Group has expanded its presence in the solar PV supply chain by manufacturing solar cells and modules. The company currently operates a renewable energy portfolio of about 4 GW, with plans to reach 11 GW by 2026.
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Sterlite Power is setting up a renewable energy "expressway" power corridor to bring 2000 MW of green energy from Gujarat's solar wind parks to Mumbai. The Mumbai Urja corridor project will route the energy from Vadodra through Dhule to Padgha in Maharashtra, then to Kharghar and finally to a 400 kV receiving station at Vikhroli.
The transmission lines are being set up to enhance the transmission capacity for the Mumbai Metropolitan Region to meet the expected surge in power demand. Mumbai's peak electricity demand this summer has already touched 3900 MW, and the city cannot produce enough power on its own. The corridor aims to meet 40% of Mumbai's electricity demand through renewable energy in the future.
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Tata Steel initiates Hydrogen gas injection trials in Jamshedpur
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Indian steelmaker Tata Steel has commenced a trial on injecting hydrogen gas into its blast furnace at its flagship plant in Jamshedpur. The move aims to reduce metallurgical coke usage and cut carbon emissions. Tata Steel used 40% of the injection systems to initiate the trial. The trial to run for about 5 days could reduce coke rate by 10%, leading to a 7% to 10% reduction in carbon dioxide emissions per tonne of crude steel produced. Tata Steel aims to become net zero by 2045.
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Credit Fair and TPSSL partner to offer solutions to reduce carbon footprints
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Haryana Government invites bids for 500 MW of solar power
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Fintech startup Credit Fair has partnered with Tata Power Solar Systems (TPSSL), a 100 per cent subsidiary of Tata Power Renewable Energy (TPREL) to offer collateral-free affordable financing solutions with low cost for both individuals as well as MSMEs planning to reduce their carbon footprint and electricity bills. Under the arrangement, Credit Fair will offer its financing solutions to customers through the channel partners of TPSSL. The association is in line with the mission of Credit Fair to play an enabling role in the green energy transformation by offering easy financing options to households and enterprises gearing up to switch to renewable or alternative energy. Credit Fair will offer financing to all types of solar rooftop installations - residential, housing societies, trusts and MSMEs.
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The Government of Himachal Pradesh and Oil India Ltd have signed an MoU in the presence of CM Thakur Sukhvinder Singh Sikhu on Wednesday, to collaborate in the development of new and renewable energy sources (NRES) in the state. The partnership will focus on the development of solar energy, green hydrogen, wind energy, geothermal energy, and compressed biogas.
As part of the partnership, OIL will explore the possibility of setting up floating solar plants in the state's water reservoirs and ground-mounted solar projects. The company may also undertake a pilot project to generate green hydrogen and green ammonia. The state government has directed the company to send experts to inspect potential project sites.
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Ohmium raises $250 Million to boost electrolyser manufacturing
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Ohmium International, a company that focuses on green hydrogen, has raised USD 250 million in a funding round led by TPG Rise Climate. The company plans to use the funds to scale up its electrolyser manufacturing operations in India, where it already has a significant presence.
Ohmium intends to set up a manufacturing hub in India, which will enable it to deliver products at lower costs and improve the country's position in the global supply chains. The company specialises in manufacturing and deploying advanced proton exchange membrane (PEM) electrolyser systems for a wide range of commercial applications in the green hydrogen industry.
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