Energy News 04th January 2023
WEC India Energy News
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WEC India Energy Handbook Mobile Application
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| PM Modi dials UK's King Charles, discusses G20 Presidency, climate change | IEX trade volume falls 7pc to 8,452 million units in December | ONGC, Indian Oil, Power Grid top profit making PSUs in FY22 | |||
New Delhi: Prime Minister Narendra Modi today dialled United Kingdom's monarch King Charles III to have his first conversation since he assumed the Office of the Sovereign of the UK. Prime Minister conveyed his best wishes to the King for a very successful reign and the two leaders also discussed various issues including India's G-20 Read more... | The Indian Energy Exchange's total trade volume in December 2022 dipped 7 per cent to 8,452 million units as compared to the year-ago period mainly due to higher average spot price of electricity and lower trading of renewable energy certificates. "The overall volume on the exchange in December 2022 increased 9 per cent on a MoM basis. However, it declined by 7 per cent on Yo Read more... | The net profit of g public sector enterprises jumped 50.87 per cent to ₹2.49 lakh crore during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers, according to a government survey. The net profit of operating central public sector enterprises (CPSEs) stood at ₹1.65 lakh crore . Read more... | |||
| World Bank to Expand Lending Capacity to Tackle Climate Change, Global Crises | 50 electric buses launched in Delhi under FAME India Phase II scheme | Value of natural gas imports rose 43 per cent between Apr 2021-Sep 2022 | |||
The World Bank is seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a capital increase and new lending tools, according to an “evolution roadmap" seen by Reuters on Monday. The roadmap document - sent to shareholder governments - marks the start of a negotiation process to alter the bank’s mission and financial resources and Read more... | As many as 50 electric buses were launched in Delhi with support under the FAME India Phase II scheme of the Ministry of Heavy Industries, informed the government on Monday. In 2019, the government approved ₹10,000 crore for a period of three years. Out of total budgetary support, about 86 percent of the fund has been allocated for incentives so as to create demand for electric vehicles. Union minister for heavy industries Mahendra Nath Pandey said the government placed orders for 3,538 electric buses. Out of those, a total of Read more... | There has been a 43 per cent increase in the value of natural gas which India has imported between April 2021 and September 2022, according to Petroleum Ministry sources. However at the same time, there has been a decline in the quantity of natural gas imported during the period under review. In fact, the import bill of petroleum products has increased by 39.6 per cent in the first half of 2022-23 in comparison to 2016-17, primarily due Read more... | |||
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| India's coal production rises 16 pc to 608 million tonnes in April-Dec period: | Railways to run Hydrogen-powered trains on heritage routes | Caltech to launch space solar power technology demo into orbit in January | |||
The country's coal output went up by 16.39 per cent to 607.97 million tonnes (MT) during the April-December period of the ongoing fiscal. India's coal production was 522.34 MT in the corresponding period of previous fiscal. The coal production by state-owned Coal India -- which accounts for over 80 per cent of domestic output of the fossil fuel -- was at 479.05 MT in the Read more... | As part of the "green train" initiative, the Railway Ministry is working on a plan to convert all heritage trains into eco-friendly Green Hydrogen-powered trains.At present 8 heritage trains, which is being operated by railways in different parts of the country. These trains currently run on either steam or diesel engines. "The Railways plans to convert these trains into Green Hydrogen-powered trains. Read more... | In January 2023, the Caltech Space Solar Power Project (SSPP) is poised to launch into orbit a prototype, dubbed the Space Solar Power Demonstrator (SSPD), which will test several key components of an ambitious plan to harvest solar power in space and beam the energy back to Earth. Space solar power provides a way to tap into the practically unlimited supply of solar energy in outer space, where the energy is constantly available without being subjected to the cycles of day and night Read more... | |||
| Indian banks go big on financing renewable energy projects | Can floating solar islands meet the world's future energy needs? | ||||
New Delhi: Indian banks are warming up to financing renewable energy projects in line with the government's vision to become more climate sensitive. Companies, too, are switching to more eco-friendly options, creating the space for higher lending to this sector. The outstanding bank loans to the sector have grown at over 100% year-on-year, indicating momentum in underwriting renewable energy loans. According to Reserve Read more... | Trygve Kristiansen does research on floating solar power, which are photovoltaics supported on the water. He believes that floating solar panels could play an important global role in the transition to greener technologies. He is a professor of marine technology at NTNU. "By covering between 5 and 10% of the world's hydropower reservoirs with floating solar, we could produce as much electricity as all hydropower does now," he says. Doing this would also limit evaporation from these reservoirs. Read more... | ||||
WEC India Energy Handbook mobile application is a compendium of Indian and Global energy sector. The handbook is conceptualized as a ready reference for the energy professionals, covering key energy indicators, trends, source wise electricity generation, fossil fuel prices, top producers of electricity and reserves in the form of user interactive charts and graphs. The handbook also gives insight to global and Indian scenarios by organisations like IEA, EIA and WEC till 2040."