APT Translations

The company's green ambition envisages a mix of solar, wind, and green hydrogen projects. "We are carrying out a study exploring increasing our renewable energy footprint and partially meeting renewables purchase obligations of our distribution business," a top company official told PTI.

Additional incentives to taper the operating costs, transmission, and distribution (T&D) costs, wheeling charges for electricity and specific local duties and taxes like goods and service taxes can also be provided through specific policies and incentives. The Union Budget 2023 made substantial inroads in the green hydrogen sector by planning an outlay of INR 19700 crore particularly under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme, which alone had an allocation of INR 17,490 crore.

Following record growth, electricity generation from low-emissions sources will account for almost half of the world's power by 2026, up from less than 40% in 2023, the IEA said in report on Wednesday.Renewables are expected to overtake coal by early 2025, accounting for more than a third of total electricity generation, the report said.

Interim Budget: The upcoming Budget 2024 is seen as crucial for achieving ambitious targets, fostering a clean energy ecosystem, and positioning India as a significant player in the global clean energy landscape. The focus includes green hydrogen, solar and wind energy, battery storage, carbon markets, and measures to boost private sector involvement and investments.

In the past five fiscal years, the industry witnessed the addition of 119 MTPA capacity, reaching a total of 595 MTPA. According to the report, the upcoming fiscal year is set to see the commissioning of 70-75 MT of this new capacity, with a major focus on the eastern and central regions of India. Notably, large players are expected to contribute 50-55% of this planned capacity expansion.

Gadkari stressed the need for making ropeways economically viable through reduced project costs and the encouragement of Public-Private Partnerships. He also highlighted the focus on indigenous and cost-efficient solutions without compromising safety. According to the Union Minister, ropeways are poised to significantly impact tourism and job creation in the country.

The term sheet, signed by ACME's Founder and Chairman Manoj Upadhyay and Hiroshi Ide, President and CEO of IHI Corporation, was witnessed by key figures Minister of Power & Renewable Energy, RK Singh, Secretary MNRE Bhupinder Singh Bhalla, and the Japanese Ambassador to India Hiroshi Suzuki.

The chief minister assured that the new model of planning will accelerate the holistic development of all villages in the state and that government resources would be optimally utilised without wastage, an official communique said here on Tuesday.

The suit was filed shortly after Pattern Energy received approval to transmit electricity generated by its SunZia Transmission wind farm in central New Mexico through the San Pedro Valley east of Tucson and north of Interstate 10.

The plans come on top of its 8 megawatt solar project in Japan's Chiba prefecture which started commercial operations last year.