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Government officials in India have reportedly asked the country’s power companies to spend billions on equipment to support additional coal-fired generation. India is looking for ways to more quickly increase […]
The post Report: India Supports $ 33 Billion Investment in New Coal-Fired Generation appeared first on POWER Magazine.
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India’s Power Ministry, despite the country facing shortages of electricity in recent years and as recently as the past month, said it plans to reduce the amount of power generation from at least 81 of the country’s 173 coal-fired power plants over the next four years.
The agency, in a letter dated May 26 that was sent to top federal government, state, and energy department officials, said the country needs to support renewable resources to maximize cleaner power generation and reduce energy costs. The agency, though, said the plan does not include closing older coal-fired power plants.
“The thermal power plants in [the] future shall operate up to the technical minimum to accommodate cheaper renewable energy when it is available,” the ministry said in the letter. The International Energy Agency has said India, with a population of about 1.4 billion, is expected to see its demand for electricity more than double by 2030. Much of that demand comes as more and more homes and offices install air conditioning.…
A Colorado company that serves rural communities with solar power-based microgrids announced an investment that would provide more than 100 installations across two states in India.
Husk Power Systems on Feb. 17 said it had closed $ 4.2 million in debt financing from the India Renewable Energy Development Agency (IREDA) to build as many as 140 microgrids in Uttar Pradesh and Bihar, areas where Husk has operated smaller power generation projects since 2008.
Husk officials said that in addition to the IREDA loan, the company expects to raise an another $ 18 million in debt this year to support project deployment, and also is starting fundraising for a Series D equity round. Husk in its announcement said the company, which has primarily served communities in India and Africa, expects to have about 1,300 small power projects in operation by 2025 across multiple markets.
“The IREDA financing demonstrates the Government of India’s vision in making microgrids an integral part of its net-zero goal put forward at COP26,” said Manoj Sinha, Husk’s CEO and co-founder.…
India, a nation heavily reliant on coal power, will set out to achieve net-zero greenhouse gas (GHG) emissions by 2070, Prime Minister Narendra Modi pledged in a surprise declaration at the ongoing COP 26 climate summit on Nov. 1.
While India’s central government has yet to issue a detailed plan to achieve the necessary carbon reductions, the nation will kick off its climate ambitions by issuing five aggressive near-term targets.
“First, India will increase its non-fossil energy capacity to 500 GW by 2030,” Modi said in a 12-minute speech (in Hindi) on the first day of the conference in Glasgow, Scotland. “Second, India will fulfill 50% of its energy requirements from renewable energy sources by 2030,” he said. “Third, between now and 2030, India will reduce its total projected carbon emissions by 1 billion tons. Fourth, by 2030, India will reduce the carbon intensity of its economy by 45%. And fifth, by 2070, India will achieve the target of net-zero emissions.”…
The chief executive of major India electricity producer Tata Power said his company is prepared to make major investments in renewable energy, primarily solar and also wind power, as the group looks to increase its clean energy portfolio from its present 4 GW to 25 GW by 2030.
Praveer Sinha, Tata Power’s CEO and managing director, told Nikkei Asia that “for a country like India, renewable is very good source” for power production. He said India’s sunny climate provides the country with “huge potential” for solar power, “so for us, this is a very important opportunity to leverage and see how we can increase our generation through renewable sources.”
Sinha told the news service that Tata could provide “excellent 24/7 renewable solutions” via solar, wind, and other clean energy sources. Tata Power, part of Tata Group, India’s largest conglomerate, has said it would like to add 2 GW of new renewable generation annually over the next decade. Renewable energy today makes up about 30% of the company’s generation.…