India curbs use of sugar for ethanol in 2023-24
The central government on Thursday banned diversion of sugar for ethanol manufacturing with immediate effect in ethanol supply year 2022-23. However, the supply of ethanol from existing offers received by the Oil Marketing Companies (OMCs) from B Heavy molasses will continue, it said.

SC clarifies computation of market value for claiming tax deductions
Granting relief to Jindal Steel & Power Ltd (JSPL) and other companies on computation of market value for claiming income tax deductions, the Supreme Court held that the rate at which state electricity boards (SEBs) supply electricity to industrial consumers should be treated as market value for calculating such deductions under the Income Tax Act, a stand contested by the income tax.

India's state refiners may sharpen competition for Venezuelan Oil
Government-controlled refineries in India are joining billionaire Mukesh Ambani’s Reliance Industries Ltd. in seeking to take Venezuelan crude, intensifying competition with Chinese users for discounted barrels.

Global rigs shortage delays Indian oil and gas exploration projects
A global shortage of drilling rigs is delaying India’s oil and gas exploration projects at a time when the country’s dependence on oil imports has grown to 87% of its consumption, up 10 percentage points in a decade, increasing its vulnerability to the volatility in the international markets.

Cost of BESS system at ₹2.20-2.40 crore per MWh: Power Ministry
 

India back to being a net importer of steel in the April-Nov period
New Delhi: In a major setback, India has turned into a net importer of steel for the April-November period (eight months of the fiscal) due to a continued fall in export orders on account of global recessionary pressures, inability to tap into new markets, and stiff competition from lower-priced offerings coming in from China and Vietnam, data accessed by businessline from the Union Steel Ministry has showed. 

AMNS India plans Rs 100 crore capital infusion to set up three scrap processing centres
Gujarat-based AMNS India is planning to set up three scrap processing centres at a capital infusion of around Rs 100 crore. The company plans to set up two centres at Hazira and Ahmedabad in Gujarat, and one in Khopoli, Maharashtra, a company official said on Thursday.

Vedanta to raise $1.25 bn at much higher rates
London-headquartered Vedanta Resources (VRL) is in talks with a clutch of foreign investors to raise $1.25 billion, ahead of its debt maturity of $1 billion in January 2024. The debt, which would be raised at higher interest rates than existing ones, is expected to be finalised as early as next week.

Hindalco backs aluminium industry's new greenhouse-gas initiative
Hindalco Industries, an aluminium manufacturer, has decided to back the new greenhouse gas (GHG) initiative of the International Aluminium Institute (IAI) and urged others to join it. The initiative was launched at the United Nations' Climate Change Conference (COP28), with 13 signatories committing to transparently and publicly tracking GHG reductions of all its member companies.

GJEPC demands details on G7’s ban on Russian diamonds
The Gems and Jewellery Export Promotion Council (GJEPC) has strongly protested against the G7’s decision to impose a ban on the non-industrial diamond imports from Russia.

Indian diamond trade raises concern over a recent statement by G7 leaders

The Indian diamond trade has raised concern over the recent statement from G7 leaders, informing of a decision to impose direct import restrictions on Russian-origin diamonds effective January 1, 2024, and on diamonds processed by third countries from March 1, 2024.

Sites finalised for 32 EV charging stations in city
The stage is finally set for the installation of electric vehicle (EV) charging stations at 32 sites across the city. The Chandigarh municipal corporation has handed over the sites to the Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST) of the UT after a field survey and inspection by its engineering department.

Servotech files patent to make CCS2 chargers more accessible
Servotech Power Systems, a leading manufacturer of EV chargers and solar solutions has filed 2 patents in the EV charger space, which is said to drive green vehicle adoption.

PNGRB chairperson meets Himanta Biswa Sarma, highlights importance of City Gas Distribution
Dr. Anil Kumar Jain, Chairperson, Petroleum and Natural Gas Regulatory Board (PNGRB) met Assam chief minister Himanta Biswa Sarma highlighted importance of City Gas Distribution (CGD) issues and sought for assistance of State government in promoting natural gas.

Now, 10,000 fuel pumps offer EV charging points

New Delhi: Around 10,000 fuel pumps across India are currently offering electric vehicle charging facilities, thereby indicating that traditional energy suppliers wouldn't want to be left behind in the country's accelerated transition to electric mobility, as per oil ministry data.

Submit bids for green hydrogen, electrolyser manufacturing projects under SIGHT Scheme by Dec 12: R K Singh
New Delhi: The last date to submit bids for green hydrogen and electrolyser manufacturing projects under the government's SIGHT Scheme ends on December 12, Parliament was informed on Thursday. In January 2023, the Union Cabinet approved the National Green Hydrogen Mission (NGHM) with an outlay of Rs 19,744 crore with an aim to make India a global hub for manufacturing this clean source of energy.

Mahanadi Coalfields mulls higher capacity at Odisha thermal plant
New Delhi: Coal India subsidiary Mahanadi Coalfields Ltd may expand its upcoming thermal power plant in Odisha's Sundargarh district by adding 2400 MW in phase-II, taking the total capacity of the unit to 4,000 MW.

Tata Power scales new peak, m-cap moves past ₹1-lakh cr
Chennai: Tata Power stock zoomed to an all-time high of ₹332 on Thursday on the BSE that helped it to cross ₹1-lakh crore market capitalisation (₹1.04-lakh crore). The stock closed almost 11 per cent higher at ₹325.7 higher from Wednesday’s close of ₹294.1. In fact, Tata Power has been rallying in the last one week on the back of the company’s shift in strategy to focus on high-value segments and a few order wins. From December 1 to date, the stock has moved over 20 per cent.

Renewable energy capacity to reach 170 GW by March 2025 on moderation in module prices: Icra analyst
India will add another 38 gigawatt (GW) of renewable energy capacity by March 2025 to touch 170 GW-mark, aided by moderation in solar module prices, an Icra analyst said on Thursday. The country's installed renewable energy capacity was at 130 GW as of October 2023, Vikram V, Vice President & Sector Head - Corporate Ratings, Icra, said in a webinar.

RE capacity addition gathers pace after tepid H1
After a halving of the pace of solar capacity addition so far in the current fiscal year, which caused doubts if investor interest in these projects and lenders’ support to them have waned, the remainder of the year will see the sector gathering momentum again, several analysts and industry executives said.

Clean energy to power 60% production of Ambuja, ACC by 2028: Gautam Adani
Adani Cements, the holding company of Adani Group’s cement firms, will power 60% of its cement production with renewable energy sources by 2028.

Indian renewable energy capacity expected to reach 170 GW by Mar ’25: ICRA

India's installed renewable energy capacity is expected to increase to about 170 GW by March 2025 from the level of 132 GW as of October 2023, according to research agency ICRA.

Limits to pushing renewables
The International Energy Agency (IEA) has called for governments worldwide to commit to tripling global renewable capacity by 2030, much ahead of COP28. While 118 nations pledged to do so at the ongoing COP28 sidelines in Dubai, key players such as India, China, Russia, and Saudi Arabia have not. The plan remains aspirational, and no country-level renewable energy increase targets have been fixed. It also needed to be negotiated. According to IEA projections, the global share of renewables in power generation is anticipated to jump from 28 per cent in 2021 to 80 per cent by 2050, while coal’s contribution will dwindle to 3 per cent. Three primary renewable energy sources and their shares in global power generation are hydroelectric (16.1 per cent), wind (5.6 per cent), and solar (3.8 per cent).