APT Translations

The underlying logic of such as market mechanism is built on the expectations that it would lead to cost-effective emission reductions, promote innovations in the domain of clean technologies and support countries to meet their Paris Agreement commitments.

The report 'In 12 months the renewables market has moved but governments have not', states that while renewables markets are progressing, governmental targets lag, with just eight countries revising their renewable goals since the pledge.

A significant CO2 emission gap would still need to be closed by 2050, according to IRENA’s World Energy Transitions Outlook 2024.

Sadhguru, speaking at the UN climate talks, argued that simply urging nations to abandon fossil fuels without offering alternatives is ineffective. He emphasized the need for technological advancements to provide viable alternatives and highlighted that excessive talk about abandoning fossil fuels without practical solutions might be counterproductive.

The project has been awarded by Maharashtra State Power Generation Company Limited (Mahagenco) under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY 2.0 scheme), the renewable energy player said in a statement.

The report, Weathering the Storm: Building Resilience Against Climate Disruptions, also highlights that a mere 17% of organisations regularly rehearse responses to climate events, while 25% have no mechanisms in place to build resilience.

The survey, titled "Solar Spectrum of New India," highlights the growing interest in solar power as well as regional disparities in adoption rates and awareness levels.

The Power Purchase Agreement (PPA) under Mukhyamantri Saur Krushi Vahini Yojana 2.0 will support the installation of solar power stations with a total capacity of 124 MW (AC), part of the PM-KUSUM scheme’s initiative for feeder-level solarisation.

India needs significant patient-finance and suite of technologies to bring changes in consumption and emission patterns, backed by a supportive legal-regulatory-policy environment to facilitate innovations and the transition.

Newspaper announcements have cited ambitions to bring the cost of green hydrogen production down to $1/kg from $5+ per kg today. This is implicitly based on the assumption that if the cost of RE continues to decline as in the recent past, we can produce green hydrogen cheaply.