India gets major push with first multi-purpose Green Hydrogen project! Know significance, features, and much more
In a significant development, India’s first Multi-purpose (Combined Heat & Power) Green Hydrogen Pilot Project was recently inaugurated by Satluj Jal Vidyut Nigam (SJVN) at its 1,500 MW Nathpa Jhakri Hydro Power Station (NJHPS) in Jhakri, Himachal Pradesh.

Core sector growth moderates to 5.2% in March
Aided by a strong show from Coal, Cement and electricity sectors, the output of eight core industries grew 5.2 percent in March 2024. This was higher than overall 4.2 percent growth recorded in March 2023, but much lower than 7.1 per cent growth in February 2024. Six of the eight core industries recorded positive growth for the month under review. Only refinery products and fertilizers saw contraction in output in March 2024 at 0.3 percent and 1.3 percent, respectively.

Steel-makers shouldn’t be deprived of scrap
Economic growth and the government’s focus on infrastructure development are likely to spur steel demand in the country by over 10 per cent. This rapid growth must address environmental sustainability concerns, specifically the issue of carbon emissions. The use of ferrous scrap in steel production can reduce greenhouse gas emissions by up to 58 per cent. If renewable energy is used, emissions could drop by as much as 80 per cent, offering a promising path towards sustainability.

India's gold demand up 8 pc in Jan-Mar to 136.6 tonne despite high rate
India’s gold demand up 8% in March quarter to 137 tonne: World Gold Council
The Indian Express

BP appoints Kartikeya Dube as India head
New Delhi: BP on Tuesday announced the appointment of Kartikeya Dube as the new India head, replacing long-time executive Sashi Mukundan who is retiring. In a statement, the company said Dube has been appointed Head of Country (HoC) and senior vice president (gas and low carbon) for India with effect from July 1, 2024.

Indian Oil Corporation Q4 results: Net profit down 52% on year; declares dividend of Rs 7/share; Here are all other details
Indian Oil Corporation in Q4 of FY24 reported a fall of 52% on year in its net profit standing at Rs 4,837.69 crore Vs Rs 10,058.69 crore it posted in the same period a year ago. 

India's oil import bill could swell to USD 101-104 bn in FY25: ICRA
India's net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of USD 7.9 billion in 11 months (April-February) of 2023-24, up from USD 5.1 billion in 2022-23.

BII commits $19 to charge zone for EV infrastructure
Charge Zone has secured a $19 million (Rs. 1.58 crore) commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. This investment marks a milestone in Charge Zone’s mission to revolutionize electric vehicle infrastructure in India.

IOCL net profit tanks 49% y-o-y in FY24 as margins shrink
 

Critical mineral imports, acquisition of mines could feature in India - Chile FTA discussions
New Delhi: India’s Mines Ministry has suggested, discussions regarding India – Chile Free Trade Agreement (FTA) cover securing of critical minerals; along with acquisition of copper and lithium mines and commercial off-take agreements at G2G (government -to- government) levels, an official aware, told businessline.

REC net rises 34% in Q4 to Rs 4,016 crore
REC posted a 34% jump in its net profit in the fourth quarter of the financial year 2023-24 at Rs 4,016 crore compared to Rs 3,001 crore in in the corresponding period a year ago.Its revenues from operations rose by 25% to Rs 12,613 crore in Q4FY24 from Rs 10,113 crore in Q4FY23.The company’s total sanctions increased by 34% to Rs 3.6 trillion in Q4FY24.

IOC arm to build 1 GW RE capacity, invest Rs 5,215 crore
Indian Oil Corp (IOCL) plans to invest Rs 5,215 crore in building 1 gigawatt (GW) of renewable energy capacity including standalone ground mounted solar projects or standalone onshore wind or wind-solar hybrid projects.

Clean energy: Tale of respectable numbers, yet missed targets
Chennai: The NDA’s achievement in clean energy is a story of missed targets. If you look at just the numbers without context, they may appear to be respectable, but against the backdrop of either the government’s own targets or what could have been achieved, they present a rather glum picture.

10 years of NDA: Renewable energy industry’s performance has been pretty good, says Enerfra Projects (India) MD UB Reddy
How has the industry’s performance been in the last ten years?