Markets & Policy

European Investment Bank (EIB) has joined the India Hydrogen Alliance and agreed to increase support for large-scale green hydrogen hubs and projects across India with indicative funding of EUR 1 billion.

Adani Green Energy Ltd, the renewable energy arm of the diversified Adani Group, reported a consolidated net profit of INR 103 crore in the three months ended Dec. 31, 2022.

India’s Energy Efficiency Services Ltd has agreed to provide technical advisory, project management, contracting and implementation support for energy efficiency programmes in Indonesia, Malaysia, and Thailand.

Polysilicon prices started to rise in the second half of January, according to new data from the China Nonferrous Metals Industry Association (CNMIA).

Prime Minister Narendra Modi today launched India Energy Week 2023, a three-day event connecting India’s energy stakeholders with international counterparts to collaborate for a responsible and smart energy transition on India’s road to net zero. Addressing the gathering, the Prime Minister said India is today the world’s most suitable place for investment. He called upon the stakeholders to explore every possibility in India’s energy sector and get involved with it.

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.

For a long while, it looked as if hydrogen fuel cells would be the technology of choice for emissions-free road transport. However, truck manufacturers and freight forwarders recently turned their attention to battery-electric vehicles. This will require special charging technology and PV looks set to play an important role.

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.

The budget signifies the government’s intent to drive domestic manufacturing of lithium battery cells as it waives customs duty on the import of machinery required for manufacturing these cells. It also continues with nil customs duty on critical inputs for solar manufacturing. The budget also aims to support large-scale battery storage projects through viability gap funding.

Electric vehicles (EV) sales in India soared 212% year-on-year to surpass one million mark in 2022.