Markets & Policy

With 90% of world economies committed to net zero targets, the disruptive nature of the energy transition is becoming clear. Climate targets require us to triple renewable energy capacity by 2030, phase out coal by 2040, end fossil fuel subsidies, and ensure support for a just transition. While hydrogen is sure to be a key technology in this energy transition, the exact role it will play is not yet clear, reports Felicia Jackson.

Experts at a recent workshop by industry body India Hydrogen Alliance (IH2A) and the government thinktank NITI Aayog proposed the formation of a public-private taskforce to develop gigawatt-scale green hydrogen hubs in India. The taskforce will have participation from global funding agencies, industry and government.

Clean energy facilities have been ordered offline in the nation since Thursday as the national grid ran an exercise to establish how it would function in isolation from the power networks of Russia and Belarus.

The International Energy Agency has published a 10-point plan for Europe to reduce its reliance on natural gas imported from Russia. The plan would see Russian gas imports to EU member states reduced by one third within a year, and notes that further reductions within this timeframe would come with significant tradeoffs, likely to impact both energy prices and Europe’s Green Deal. The plan was presented by Fatih Birol, executive director of the IEA, in a virtual press conference held earlier today.

The Indian State of Rajasthan, with 10,560MW of installed solar power capacity, will have an 800MW solar park in Jaisalmer developed through Rajasthan Power Generation Corporation. Rajasthan Solar Park Development Company, a Rajasthan Renewable Energy Corporation subsidiary, will build a 1,000MW solar park in Bikaner.

The NYSE-listed Indian solar developer reported a net loss of INR 610 million (US$ 8.2 million) for the quarter ended December 31, 2021 against INR 1,088 million for the corresponding period in the previous year.

Avaada Energy is issuing green bonds for INR 1440 crore (US$192 million) at 6.75%, making it India’s largest AAA-rated green bond by any renewable energy developer.

India recorded the highest ever annual solar installation in 2021 despite a rise in component costs.

Mass adoption of electric vehicles presents opportunities for significant battery deployment to support our grid and power our homes. Developing and adopting standards for vehicle-to-grid bidirectional technology is needed to accelerate the path to these opportunities, reports pv magazine USA’s Tim Sylvia.

The developer reported a widening of net loss for nine months ending December with the increase in expenses.