ONGC to spend $12 billion on green initiatives by 2030
The state-run explorer Oil and Natural Gas Corp. Ltd (ONGC) aims to achieve an installed renewable energy (RE) capacity of 10 GW by 2030 and 1 million tonnes per annum capacity of green ammonia production as part of its efforts to reduce its carbon footprint.
Tata Power profit grows to INR 1,141 crore in Q1 FY24
Tata Power’s profit after tax (net profit) grew 29% year-on-year to INR 1,141 crore ($137.6 million) in the April-May-June period of FY 2023-24. Consolidated revenue stood at INR 15,003 crore.
Vena launches plan to support solar, storage ‘megaproject’ in Indonesia
Singapore-based developer Vena Energy says it will investigate opportunities to make solar panel components and battery energy storage systems in Indonesia, in order to support a hybrid megaproject with up to 2 GW of solar and more than 8 GWh of energy storage.
Tata Power to develop 2.8 GW of pumped hydro projects in Maharashtra
Tata Power has signed a Memorandum of Understanding (MoU) with the government of Maharashtra to develop 2.8 GW of pumped hydro storage projects in the state. The cumulative project cost is estimated at INR 13,000 crore.
India needs 60-100 GW of electrolysis capacity to meet 5 MMT per year green hydrogen target
India’s National Green Hydrogen Mission targets the development of 5 million metric tonnes of green hydrogen production capacity per annum by 2030, which would require the nation to install 60-100 GW of electrolyzer capacity.
Preheating hydrogen with heat pumps may reduce cost of green H2 for heating by 10%
UK researchers suggested utilizing heat pumps to preheat hydrogen to very high temperatures, which they said could reduce the need for hydrogen by more than 20%. The process is also claimed to have the potential to reduce the European industry’s energy demand by approximately 200 TWh per year.
Australia’s latest tender for generation, storage largely oversubscribed
Investors have submitted bids for 3.1 GW of wind and solar projects, along with 1.6 GW of long-duration storage projects, in response to the New South Wales government’s latest tender for renewable energy generation and storage capacity.
Australian startup builds production line for thermal energy storage blocks
Australia-based MGA Thermal has secured AUD 8.25 million ($5.39 million) from domestic and international investors as it gears up for commercial-scale production of its thermal long-duration energy storage solution.
Solar, storage, and V2G at the core of Israel’s future energy system
New research has shown that Israel has the technical potential to deploy 172.5 GW of photovoltaics, of which 132.1 GW would be from conventional installations and 40 GW from agrivoltaics. If deployed, this full potential would require energy storage with a capacity of at least 500 GWh and strong development of vehicle-to-grid technologies.
Energy Vault completes 25 MW/100 MWh gravity-based storage tower in China
Energy Vault has started commissioning a 25 MW/100 MWh energy storage tower adjacent to a wind power facility near Shanghai.
