Energy News 31 March 2022
WEC India Energy News
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WEC India Energy Handbook Mobile Application
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| UAE leads region in climate change action, says IMF chief | 3-year extension for 10 mega power projects to submit required documents | Petrol, diesel prices hiked by 80 paise; total increase now stands at Rs 6.40 | |||
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), on Wednesday, praised the UAE’s efforts and contributions toward climate change and leading the region in this sphere. While speaking at the launch of the “Feeling the Heat” report at the World Government Summit at Expo 2020 Dubai on Wednesday, she added that the world needs to cut global emissions by half by 2030.“When we put together all the promises that countries made, Read more... | The Union Cabinet on Wednesday extended the time limit for 10 power projects by 36 months to furnish documents required to become certified 'mega' projects so as to avail tax benefits and bid for tenders or supply of electricity. The extension of time period will enable developers to competitively bid for future PPAs (Power Purchase Agreements) and get tax exemptions as per policy terms, an official statement said. Read more... | Petrol and diesel prices were on Thursday hiked by 80 paise a litre each, taking the total increase in rates in the last 10 days to Rs 6.40 per litre. Petrol in Delhi will now cost Rs 101.81 per litre as against Rs 101.01 previously while diesel rates have gone up from Rs 92.27 per litre to Rs 93.07, according to a price notification of state fuel retailers.Rates have been increased across the country and vary from state to state depending upon the incidence . Read more... | |||
| Canada unveils multibillion-dollar plan to cut carbon emissions | Consumers bracing for impact of rising energy prices; want to shift from fossil | Oil hunt: Niti Aayog moots Indian funding, foreign expertise | |||
Canadian Prime Minister Justin Trudeau has unveiled a $7.3bn (9.1 billion Canadian dollars) plan to help the country meet its carbon emissions target, including significant reductions in the oil-and-gas sector. Speaking in Vancouver on Tuesday, Trudeau linked Europe’s effort to move away from Russian oil and natural gas after the country’s invasion of Ukraine to a broader, global push towards renewable energy.Read more... | New Delhi: A majority of consumers worldwide expect their overall spending power to be significantly impacted by rising energy prices, while India tops the list where climate change policies have been cited as the main cause of the recent price rises, a global survey showed on Wednesday. The World Economic Forum-Ipsos survey also showed that an average of eight in ten want their country to shift away from Read more... | New Delhi: Niti Aayog has proposed that the government and state-run companies assume the financial risks in oil and gas exploration to increase foreign participation in the Indian upstream sector. In a proposal sent to the petroleum ministry for consultation, Niti Aayog has recommendedsetting up a special purpose vehicle (SPV) for exploration, which will be equally Read more... | |||
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| Energy bills may spike on record jump in imported coal price | DVC, NTPC form JV for renewable power projects | New program bolsters innovation in next-generation artificial intelligence hardware | |||
New Delhi: An over 200% increase in the price of imported coal since March 2020 could shoot up monthly power bills of consumers in Mumbai and its suburbs as power generation companies are considering an increase in the fuel adjustment charges (FAC). FAC is the amount that utilities apply on bills based on the varying price of fuel or coal. It is acharge that is applicable per unit of electricity consumed.During the outbreak Read more... | Damodar Valley Corporation (DVC) on Wednesday said it signed a joint venture agreement with NTPC Renewable Energy Ltd, a fully owned subsidiary of the NTPC Limited, for renewable power projects in its command area. DVC will hold 49 per cent and NTPC Renewable will hold 51 per cent in the JV company to implement renewable energy parks and projects including those approved under Ultra Mega Read more... | The MIT AI Hardware Program is a new academia and industry collaboration aimed at defining and developing translational technologies in hardware and software for the AI and quantum age. A collaboration between the MIT School of Engineering and MIT Schwarzman College of Computing, involving the Microsystems Technologies Laboratories and programs and units in the college, the cross-disciplinary effort aims Read more... | |||
| Nitin Gadkari rides to Parliament in hydrogen-powered electric car | Fuel from waste wood | ||||
Union minister Nitin Gadkari, who has been pushing for the use of alternative fuel-powered vehicles, on Wednesday rode to Parliament in his new hydrogen-based electric car. Demonstrating the vehicle powered by 'green hydrogen' outside his residence here, Gadkari talked about the need to spread awareness about green Hydrogen, FCEV technology and its benefits to support hydrogen-Read more... | Ethanol is usually produced through the fermentation of sugars from starchy raw materials such as corn, or from lignocellulosic biomass, such as wood or straw. It is an established fuel that decarbonizes the transportation sector and can be a building block to reduce emissions of CO2 over the long term. In collaboration with the Lappeenranta-Lahti University of Technology (LUT) in Finland, researchers at the Straubing . 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."