Energy & Renewables News
Govt Signs 140 Mn Euro Loan Agreement For Energy Sector Reforms In MP
The Government of India (GoI) and the German development bank KfW signed agreements for a Euro 140 million reduced interest loan and Euro 2 million grant for an energy reform programme in Madhya Pradesh.
The project will contribute to a more stable, secure and climate and environmentally friendly energy supply in India by upgrading and strengthening distribution networks in Madhya Pradesh, the finance ministry said in a statement.
The project comprises two components - implementation of smart meters and Advanced Metering Infrastructure (AMI); and separation of agriculture and non-agriculture feeders.
Adani Green Inks Pact With SECI For 4,667 MW Green Power
Gujarat-based Adani Green Energy Ltd. (AGEL) has signed an agreement with Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power. This is the world’s largest-ever green power purchase agreement, the company issued a statement.
“We are pleased to have signed the world’s largest PPA with SECI,” said Gautam Adani, group chairman. “This is yet another step in our journey to enable India’s dual objective to accelerate its renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme,” he added.
According to Mr. Adani, the Adani Group has committed $50-$70 billion of investment in the renewables space in coming years. “This agreement keeps us well on track to our commitment to become the world’s largest renewables player by 2030.”
IEA - Renewables To Dominate New Power Capacity Through 2026
Renewable energy should account for nearly 95% of the increase in power capacity in the world through 2026, a report by the International Energy Agency (IEA) stated, with solar power providing more than half the boost.
“This year’s record renewable electricity additions of 290 gigawatts are yet another sign that a new global energy economy is emerging,” said IEA ED Fatih Birol. “The high commodity and energy prices we are seeing today pose new challenges for the renewable industry, but elevated fossil fuel prices also make renewables even more competitive,” IEA said. said adding that more robust government policies and climate goals, advanced by pledges at the COP26 conference in Glasgow last month, are driving the increases but the pace of renewables growth needs to accelerate to limit temperature rises.