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Renewable Energy

The case for using gas-based plants to serve peak power demand

Using some of India’s existing gas-based power capacity as peaking plants would be more economical than the other options in the short-term market for peak power supply. Gas-based power plants can provide ancillary services to maintain the grid’s power quality, reliability, and security as renewable energy capacity increases, says a new report by IEEFA.

Ensuring a just energy transition

The renewable energy sector must lead responsibly by addressing land use, circularity and financing.

Tata Power posts $127.6 million profit in Q3 FY 2022-23

The integrated power company reported a profit after tax or net profit of INR 1,052 crore ($127.6 million) in the quarter ended December 2022, a 91% increase year-on-year.

Tata Power to deploy AI-enabled smart energy management program in Mumbai

Tata Power will deploy US-based AutoGrid’s software application for electricity load management in Mumbai. It aims to engage 55,000 residential consumers and 6,000 large C&I customers to achieve 75 MW of peak capacity reduction within the first six months. It also plans to scale up the capacity reduction to 200 MW by the summer of 2025.

Acme partners Norfund to invest in renewable energy projects in India

Indian developer Acme and the Norwegian investment fund have signed the framework agreement to co-invest in developing potential renewable energy projects in India.

India can save $19.5 billion annually with shift from coal to clean power

India plans to add 76 GW of utility-scale solar and wind power by 2025. This will lead to annual savings of up to $19.5 billion from avoiding coal power, says a new report. 

Making the switch to a low-carbon economy

The shift to a low-carbon economy offers both a significant opportunity and a tremendous challenge.

No funding for new coal in 2021

The renewable energy sector (solar and wind) recorded project finance deals worth INR 33,893 crore ($4,598 million) in 2021. No new project finance for coal was reported.  

L&T closes $107 million sustainability-linked loan

The Indian multinational EPC provider has successfully closed a three-year $107 million sustainability-linked loan with Sumitomo Mitsui Banking Corp.

NHPC records its highest-ever half-yearly net profit

The state-owned hydropower producer, which has also diversified into the field of solar and wind power, has reported a net profit of INR 2,483 crore ($307 million) for the half-year ended Sept 30, 2022–a 12% jump year-on-year.

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