The Union Government has approved the second phase of the Green Energy Corridor on April 6, 2023. The project worth INR 12,031 Crore will cover seven states including Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh. It is expected to add about 10,750 circuit km of transmission lines and thereby, increase the capacity of substations to about 27,500 mega volt-amperes.

The scheme will help achieve the target of 450 GW of installed renewable energy capacity by 2030. Union Minister Anurag Thakur said that the Centre will provide assistance at 33% of the cost of the project, which aims to facilitate grid integration and power evacuation of approximately 20 GW of renewable energy projects in these 7 states over a period of five years.

This scheme is in addition to INR 10,141.68 Crore GEC-Phase-I which is already 80% completed in seven states for grid integration and power evacuation of approx 24 GW of RE power, the minister of Information and Broadcasting stated. The project is in line with PM Narendra Modi’s announcement at the COP26 summit in Glasgow, where he stated that India has pledged to achieve net-zero carbon emissions by 2070 to tackle climate change.

The government is considering extending the cut-off date for the waiver of inter-state transmission system (ISTS) charges for renewable energy supplied to new Green H2 & Green ammonia projects. Currently, Green H2 and ammonia projects commissioned before July 2025 are eligible for this benefit. This is proposed to be extended to all projects commissioned up to December 2030, thus making more projects eligible for the incentive.

The exemption from the charges is proposed to remain for 25 years after the commencement of operations. Waiving transmission costs will make production competitive. The first tranche of the auction for government incentives to make green hydrogen is expected to take place in the ongoing quarter. The government has imposed a ₹50 per kg incentive cap for the first year of production.

State power giant NTPC Ltd. is looking at getting fresh offers for a stake in its green unit after the top bidder pulled out. Malaysian oil major Petroliam Nasional Bhd. had made the highest offer of nearly 41.3 billion rupees ($503 million) for a 20% stake in NTPC Green Energy Ltd., according to people familiar with the matter.

It has been reported that in addition to soaring demand and attractive subsidies for clean energy in developed markets, such as the US and the European Union, rising interest rates is weaning some investors away from India. Petronas’s bid would have valued NTPC Green at about 206.5 billion rupees.

Sharad Pungalia, CEO and MD of Amplus Solar, a subsidiary of Malaysian oil and gas conglomerate Petronas, has talked about the company’s first inter-state transmission system (ISTS)-connected open access project and its plan to build green hydrogen units for the commercial and industrial (C&I) segments.

Pungalia also said in this interview to a media house that in FY2024, the company plans to set up new renewable energy units of up to 700 MW, nearly a five-fold increase from 150 MW in the last financial year. Amplus will also soon start the construction of its first wind power facility in Tamil Nadu, in India. Amplus did not have wind power in its portfolio. But looking at the requirements of the market, they have started venturing into wind projects as well.

Tata Power Co. Ltd.’s distribution arm Tata Power Delhi Distribution Ltd. (TPDDL) has signed a deal with the Asian Development Bank (ADB) to enhance Delhi’s power distribution. Under the deal, ADB and TPDDL have entered into an agreement to subscribe to non-convertible debentures (NCDs) for Rs 150 crore to enhance Delhi’s power distribution through grid enhancements, and a $2 million grant to partially finance the purchase and integration of a pilot Battery Energy Storage System (BESS).

For grid enhancements, the financing will be used to commission a new 66/11-kilovolt grid, augment and expand transformers, sub-stations, feeder lines, and switching stations, install smart meters, and replace obsolete electrical equipment and meters. It is expected to enable electricity to be stored and delivered on demand, reducing grid instability, and providing the flexibility to integrate intermittent solar and wind energy resources.

THDC India Limited (THDCIL) and Rajasthan Renewable Energy Corporation Limited (RRECL) have signed a joint venture company, TREDCO Rajasthan Limited, for development, operation, and maintenance of ultra mega renewable energy power parks (UMREPP) of 10,000 MW capacity in Rajasthan. An estimated investment of INR 400 billion is proposed by TREDCO Rajasthan on developing these UMREPPs.

The power generated by the solar/ wind energy installations in these UMREPPs will be used for operation of THDCIL’s own pumped storage plants across India, or by government entities, either directly or through distribution companies. Power purchase agreements for the generated energy will be signed through suitable mechanism based on market opportunities.

Japan’s Mitsubishi and other shareholders of the Monsoon wind power project in Laos have raised US$692 million in financing for the wind farm. Mitsubishi, Thai renewable energy firm BCPG, and other stakeholders secured the financing package from the Asian Development Bank, Japan International Cooperation Agency, Sumitomo Mitsui Banking Corporation and other lenders, the Japanese firm’s official communication said. 

The project, which is set to sell power to Vietnam under a 25-year deal, will have 600 megawatts of installed capacity and should be launched in 2025. Its total costs stand at US$950 million.

The International Renewable Energy Agency (IRENA) has released its World Energy Transitions Outlook 2023 which states that in the global space, 40 per cent of installed power is generated from renewable energy sources. Last year, the power generated across the world had 83 per cent of addition from renewable sources of energy.

The report also outlined the current status of the generation of renewable energy and mentioned the obstacles that can affect its pace. In order to attain the objective of the Paris Agreement, these challenges need to be overcome to limit the global temperature at 1.5 degrees Celsius.

The green hydrogen market size is forecasted to increase by USD 14,745.04 million from 2022 to 2027, at a CAGR of 45.51%, according to the recent market study by Technavio. The growth of the market will be driven by the growing adoption of clean fuel, the growing adoption of fuel cell-powered vehicles, and the increasing focus on decarbonization.

Further, the global green hydrogen market is fragmented and highly competitive, with vendors competing to gain more market shares. The intense competition, rapid advances in technology, and ever-changing market dynamics are the key factors fueling competition among vendors.

The Indo German Energy Forum, AHK Indien aka Indo German Chamber of Commerce and the Embassy of India, Berlin, Germany are hosting a conference on “Business Dialogue on Green Hydrogen Project Development in India” on Monday 17 April 2023 from 2 PM to 4 PM.

The Conference is expected to be an opportunity for the Industry to learn more and connect with other industry players on the common grounds of German Strategies and Ramp up of Hydrogen technologies, Green Hydrogen Market developments in India followed by pitches by Indian and German companies to initiate Indo German Green Hydrogen Projects. Participation is free of cost.

Following intense debate that continued for over a few months, Paris has finally banned e-scooters or trottinette as they are called in French. Due to the rising number of accidents involving e-scooters the city’s, Mayor Hidalgo announced a referendum, which took place on Sunday Apr 2. Eighty nine percent voted in favour of the proposed ban from the streets of Paris, reported a leading newspaper. Paris will completely do away with these battery-powered devices by September 1, 2023.