India needs USD 101 bn additional financing for net-zero pathway
The solution for a sustainable future, which means capping global warming at 1.5 degrees Celsius, lies in energy transition -- adapting renewable technologies such as solar and wind, alongside clean hydrogen and sustainable biomass to phase out fossil fuels by 2050.

India resumes imports of Venezuelan oil, Reliance seeks direct deal
Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said.

COP28: India not party to green pledge by 118 nations

Dubai: India didn’t sign the Global Renewables and Energy Efficiency Pledge that aims to triple global renewable energy capacity and double the rate of energy efficiency by 2030. That’s despite having successfully ensured a commitment to the aspiration by the G20 in the New Delhi Leaders’ Declaration. India has a domestic target of increasing its renewable energy capacity to 450GW from its current level of 130GW by 2030.

Oil prices stabilise after slump on underwhelming OPEC+ cuts
Oil prices were stable on Friday following a 2% drop on Thursday, with the market unconvinced that the latest round of OPEC+ production cuts will be able to lift prices out of their recent slump.

IOC raises Panipat refinery expansion cost by 10%, pushes completion deadline by a year
Indian Oil Corporation (IOC), the nation's top oil firm, has revised the estimates of cost of expanding the Panipat refinery in Haryana by 10 per cent to Rs 36,225 crore and pushed back completion deadline by more than a year to December 2025. IOC is expanding its 15 million tonnes a year refinery, about 100-km north of New Delhi, to 25 million tonnes.

50 oil and gas companies pledge to cut operational emissions
Fifty oil and gas companies representing 40 percent of global production pledged to decarbonise their operations by 2050 at the UN's COP28 climate talks in Dubai on Saturday.

Coal output from captive, commercial mines rises 37 pc to 11.9 MT in November
The government on Saturday said coal production from captive, commercial coal mines registered a 37 per cent rise to 11.94 Million Tonnes (MT) in November. The coal output from captive, commercial coal mines was at 8.74 MT in November 2022-23.

Tata Power acquires Bikaner-Neemrana Transmission Project
Tata Power on Saturday said it has acquired Bikaner-Neemrana Transmission Project through a bidding process.

‘We will double manufacturing revenue to Rs 12,000-crore in 2 years’
Sterlite Power, a subsidiary of Vedanata Group, plans to invest $1-2 billion in its transmission business every year, and another $100 million in manufacturing, as part of plan to double revenue from this segment to Rs 12,000 crore, Pratik Agarwal, Managing Director, Sterlite Power told Arunima Bharadwaj in an interview. The group also plans to expand its renewable energy capacity by adding 2 giga waatt (GW) annually, starting FY26, Agarwal, which is on the board of group firm Serentica Renewables, said. With no overseas expansion plans right now, Agarwal sees India as a viable market for low-cost manufacturing for advanced products. Edited Excerpts:

Rooftop solar installations rise 34.7 pc to 431 MW in Jul-Sep: Mercom
New Delhi: The rooftop solar installations in India registered a 34.7 per cent year-on-year jump to 431 MW during July-September 2023, aided by a fall in module prices, Mercom India said. The rooftop solar installations were at 320 megawatt (MW) during the three-month period of 2022, the research firm said in a report.

Proposed 5 pc biogas blending with natural gas can cut LNG imports worth USD 1.17 billion: IBA
New Delhi, The proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government's recent mandate to blend one per cent biogas with piped natural gas (PNG) supplies in the country from April 1, 2025 under the compressed biogas blending obligation (CBO) scheme.

Tata Power wins ₹1,544-crore transmission project in Rajasthan
Mumbai: Tata Power has won the bid to acquire Bikaner-III Neemrana-II Transmission, a project special purpose vehicle (SPV) set up by Power Finance Corporation’s subsidiary PFC Consulting. The project is estimated to cost ₹1,544 crore and commissioned within 24 months from the date of transfer of the project SPV. Tata Power will maintain the transmission project for 35 years. The company received the letter of intent after emerging as a successful bidder in the Tariff-Based Competitive Bidding process.  

Brookfield to set up 45 mw solar park for HUL
Hindustan Unilever Ltd. (HUL) on Friday announced a partnership with Brookfield to set up a solar energy park with 45 MW capacity in Rajasthan which would help it in its journey towards net zero.

Committed to onshore wind business in India: Scott Strazik, GE Vernova's chief executive

In 2021, General Electric decided to split its businesses into GE Healthcare, GE Aerospace and a third unit, GE Vernova, that houses its renewable energy, power and digital businesses. Scott Strazik, GE Vernova's chief executive, tells Kalpana Pathak that while the company continues to see opportunities in the Indian market, onshore wind is likely going to play the most material role in the near term.

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HUL to partner Brookfield for Green Energy to meet Net Zero commitment

Hindustan Unilever Limited (HUL) today announced a strategic partnership with Brookfield to set up a solar energy park with 45 MW capacity in Rajasthan. This will help HUL in its journey towards net zero. The project will be developed at the site of Brookfield’s solar park, being undertaken as a part of Brookfield Global Transition Fund.

Investment firm BlackRock stake in Suzlon Energy surpasses 5% level

"The aggregate holdings of BlackRock, Inc. (on behalf of discretionary management clients) in Suzlon Energy Limited has moved above 5 per cent," a regulatory filing has said.

India capable of developing smart solutions to address Energy Trilemma: Ambani
 

COP28: India, China refrain from signing pledge to triple world's renewable energy capacity by 2030
 

India's energy needs to double by end of decade: Mukesh Ambani
 

COP28: Initiative to speed up energy transition, reduce emissions
The GDA is focused on three key pillars: rapidly scaling the energy system of tomorrow; decarbonizing the energy system of today; and targeting methane and other non-CO2 greenhouse gases (GHGs).

Lula says Brazil's participation in OPEC+ is to stop oil producers using fossil fuels
Brazilian President Luiz Inacio Lula da Silva said on Saturday that Brazil's participation in the OPEC+ group of oil-producing countries is to convince nations to transition away from the use of fossil fuels.