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Billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword>'s group will supply <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> to power Google's cloud services and operations in India, the two firms said on Thursday. <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> will supply 61.4 megawatt of electricity from a new <keyword id="21342349" type="General" weightage="20" keywordseo="solar-wind-hybrid-project" source="keywords">solar-wind hybrid project</keyword> located at its 30 gigawatt (GW) Khavda renewable energy park in Gujarat. Google powers most of its cloud operations and services through electricity procured from the grid and is planning to run the entire operations on clean energy by 2030. Adani is expected to start commercial operations in the third quarter of 2025. At the '<keyword id="23413952" type="General" weightage="20" keywordseo="Google-for-India" source="keywords">Google for India</keyword>' event, the search giant also announced a partnership with CleanMax for sourcing 125.4 MW of clean energy to power its offices and cloud regions in India. Of the contracted volumes, 66 MW solar energy will come from Rajasthan and 59.4 MW wind energy from Karantaka. "These projects are expected to start commercial operations in Q4 2025 and will deliver <keyword id="22243112" type="General" weightage="20" keywordseo="carbon-free-energy" source="keywords">carbon-free energy</keyword> to the grid where Google operates offices and cloud regions in India," Google said. While Google made the announcement at the 'Google for India' event here, the Adani Group gave details in a statement. "Through this partnership Adani will supply clean energy from a new solar-wind hybrid project located in the world's largest renewable energy plant at Khavda, Gujarat. This new project is expected to start commercial operations in the third quarter of 2025," the Adani group statement said. This innovative collaboration will help advance Google's 24/7 carbon-free energy goal by ensuring cloud services and operations in India are supported by clean energy and thereby contribute to the <keyword id="20289318" type="General" weightage="20" keywordseo="sustainable-growth" source="keywords">sustainable growth</keyword> of Google in India. Adani had previously announced plans to set up data centres run on clean energy. It had in October 2022 leased 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google.

Adani to supply clean energy for Google's cloud operations in India

As the global urgency to combat <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> intensifies, all eyes are on India's <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword>, as there’s no better way to walk the talk than allocating funds. Speculation is rife about the potential measures the government may introduce to accelerate the transition to a sustainable energy future — a move that is supremely necessary after the slew of deadly climate catastrophes that we saw last year. India’s Union Budget 2024 will be presented by Finance Minister Nirmala Sitharaman in a couple of days, and is expected to reflect the nation’s commitment to achieving <keyword id="21280854" type="General" weightage="20" keywordseo="net-zero-carbon-emissions" source="keywords">net-zero carbon emissions</keyword> by 2070. Here are some of the key initiatives from the interim budget that was presented in February earlier this year, along with their anticipated impacts! <h2>Rooftop Solarisation</h2>One of the most talked-about initiatives is the ambitious rooftop solar programme, which aims to provide free electricity up to 300 units per month to one crore households. If implemented, this move will help in not only cutting down energy bills — a godsend for the middle- and lower-income folks — but will also give households a chance to generate and even sell their surplus power. <h2>Electric Vehicle (EV) Ecosystem</h2>Charging up the electric vehicle movement, the interim budget included measures to expand EV manufacturing and infrastructure in the country. The move aimed to accelerate the adoption of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword>, reducing emissions from the transport sector and making your commute cleaner and greener. Additionally, the government seemed keen on encouraging the adoption of electric buses to make urban travel more eco-friendly. <div type="Article" hostid="261" msid="111855546" title="Budget 2024: How will budget affect India’s position in the global space race?" mstype="2" mssubtype="0"></div> <h2><keyword id="20495045" type="General" weightage="20" keywordseo="offshore-wind-energy" source="keywords">Offshore Wind Energy</keyword></h2>Riding the winds of change, the interim budget introduced a viability gap funding for 1 GW of offshore wind energy. As per the Finance Ministry, this initiative aims to harness the power of India’s vast coastline, pushing the envelope on <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> and reducing our fossil fuel dependency. <h2><keyword id="22499996" type="General" weightage="20" keywordseo="national-green-hydrogen" source="keywords">National Green Hydrogen</keyword> Mission</h2>The interim budget also supercharged the National Green Hydrogen Mission with a massive boost to Rs 600 crore from last year’s Rs 297 crore. The government has continually insisted that Green Hydrogen is set to become the fuel of the future, and this announcement supports its development and adoption, paving the way for cleaner industrial processes. <h2>Coal Gasification and Liquefaction</h2>Switching up the coal game, the interim budget plans to set up coal gasification and liquefaction projects that will be able to process 100 metric tonnes by 2030. These projects aim to make the most out of coal in a cleaner way, especially by reducing our reliance on imported natural gas and slashing emissions. <div type="Article" hostid="261" msid="111827903" title="Union Budget 2024 for Railways: Expectations focused on improving passenger safety, experience, infrastructure" mstype="2" mssubtype="0"></div> <h2>Bioenergy and Biomass Aggregation</h2>Turning waste into wealth, the interim budget has also promised additional financial assistance for biomass aggregation. This, they explain, will help in creating a sustainable model for managing agricultural waste, promoting bioenergy production and giving farmers a new revenue stream. <h2>Research and Development (R&amp;D)</h2>In a nod to innovation, the interim budget allocated a whopping Rs 1 lakh crore for interest-free financing in “sunrise” R&amp;D for emerging <keyword id="19931192" type="General" weightage="20" keywordseo="green-technologies" source="keywords">green technologies</keyword>. If the government follows through on this promise, the funding could catapult a wave of innovation, supporting the transition to a sustainable energy future. By focusing on renewable energy, reducing carbon emissions, and supporting green technologies, India’s initial budget allocations seem to be taking significant strides towards its net-zero goal. Whether this will ultimately pan out to become a greener and more resilient future for its citizens remains to be seen.

Budget 2024: Key sustainability and energy initiatives that Indian government plans to implement this year

State-owned <keyword id="20039950" type="General" weightage="20" keywordseo="Bharat-Petroleum-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Petroleum Corporation" meta.hostid="153" meta.entityid="Bharat Petroleum Corporation">Bharat Petroleum Corporation</keyword> plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of <keyword id="20115883" type="General" weightage="20" keywordseo="petrochemicals" source="keywords">petrochemicals</keyword> and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword>, its chairman G Krishnakumar has said. At present, Bharat Petroleum Corporation Ltd (<keyword id="19908646" type="General" weightage="100" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword>) owns about 14 per cent of India's oil <keyword id="20064251" type="General" weightage="20" keywordseo="refining-capacity" source="keywords">refining capacity</keyword> and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of '<keyword id="22826627" type="General" weightage="20" keywordseo="project-Aspire" source="keywords">Project Aspire</keyword>' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing <keyword id="20037698" type="General" weightage="20" keywordseo="petroleum-products" source="keywords">petroleum products</keyword> and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. "Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders while preserving our planet for future generations," he said. "A cornerstone of our long-term strategy, Project Aspire, with a Rs 1.70 trillion investment, marks the initial phase of our multi-decade odyssey to shape the energy of tomorrow. This, coupled with our robust balance sheet, fuels our ambition to lead the <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>." The company is targeting net zero carbon emissions from its operations by 2040. "BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon capture, utilisation, and storage (CCUS), efficiency improvement and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore till 2040, and the company is geared for the same," he said. The firm's bet on continuing investing in core businesses is based on the premise that India's booming economy will drive a 4-5 per cent annual increase in energy demand and petroleum product consumption. Also, the demand for major petrochemical products is expected to rise by 7-8 per cent annually. "This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes," he said. BPCL is implementing new petrochemical projects at two of its three oil refineries. A Rs 49,000 crore ethylene cracker project is being implemented at the Bina refinery in Madhya Pradesh, alongside raising oil refining capacity from the current 7.8 million tonnes to 11 million tonnes annually by 2029. A polypropylene project is being set up at Kochi refinery in Kerala by 2027. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," Krishnakumar said without disclosing either the investments or the location of such a project. Andhra Pradesh is being speculated as the likely site after Prime Minister Narendra Modi's BJP and regional party TDP stormed to power in the state in recently concluded assembly elections. TDP has been demanding the implementation of a refinery-cum-petrochemical complex that was promised as part of the package when the state was split more than a decade back. "Our investment in the petrochemical project is consistent with our aspiration of becoming a dominant player in India's petrochemical growth story," Krishnakumar said. On energy transition, he said BPCL is targeting to build 2 gigawatts (GW) of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity by 2025 and 10 GW by 2035. "We are investing nearly Rs 1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support our refineries in Mumbai and Bina." The firm is also investing around Rs 300 crore in 72 MWp of solar project in Prayagraj, Uttar Pradesh. "Concomitantly, we are executing green hydrogen projects aligned with the National Green Hydrogen Mission. These projects include a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously developed electrolyser at Kochi," he noted. BPCL, he said, is committed to supporting the transition to electric mobility through a robust and accessible charging infrastructure. The company has installed over 3,000 charging stations, including fast chargers for cars and two-wheelers. 900 fast chargers are installed across 120 highway corridors, which helps address the range, discovery and time anxiety of electric vehicle (EV) owners. "Over the next five years, we aim to install 4-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors like the Golden Quadrilateral and N-S/E-W highways," he said. On biofuels, he said BPCL sells petrol with 20 per cent ethanol blend at 4,279 out of its over 22,000 petrol pumps. It is also building compressed biogas plants using municipal solid waste to make gas that can be used as CNG in automobiles. The firm is also exploring partnerships in the arena. "These combined efforts, along with the upcoming commissioning of a bio-ethanol refinery, positions BPCL as a key player in India's transition to a greener fuel mix, creating a robust ecosystem for the adoption of cleaner fuels across the country," he added. BPCL is establishing a corporate venture capital fund to invest directly in promising startups. "In order to thrive in this complex and challenging business landscape, we will leverage our agility and focus on operational excellence to ensure continued success. Safety and reliability will remain our top priorities, guiding all our actions. We are committed to upholding the highest standards of corporate governance," he added. He said the energy sector of India stands at an inflection point. "The nation has an ambitious vision of becoming a USD 30 trillion developed economy by 2047. 'Viksit Bharat @2047' will necessitate an almost fourfold increase in primary energy demand." India's exponential growth trajectory will propel it to a pivotal role in the global energy market, accounting for roughly 12 per cent of world energy consumption by 2047. "The key strategic objectives for India in the energy sector will entail significant expansion in refining capacities, raising the share of gas in the energy basket from about 6 per cent to 15 per cent, establishing leadership in petrochemical exports, and sharply reducing energy imports from current levels of 47 per cent to below 25 per cent by 2030 and to zero by 2047," he said. India is targeting 500 GW of non-fossil fuel energy capacity, sourcing half of its energy needs from renewables, reducing carbon emissions by 1 billion tonnes and lowering carbon intensity by 45 per cent by 2030 with the ultimate goal of net-zero emissions by 2070. "Building on its strong Indian energy presence, BPCL aspires to meet 7-10 per cent of the nation's primary energy demand by 2047," he said.

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

<keyword id="20357709" type="General" weightage="20" keywordseo="Tata-Power-Renewable-Energy" source="keywords">Tata Power Renewable Energy</keyword> Ltd (TPREL) has joined hands with state-owned <keyword id="22457046" type="General" weightage="20" keywordseo="NHPC-Renewable" source="keywords">NHPC Renewable</keyword> Energy Ltd (NHPC-REL) for installation of rooftop <keyword id="20297569" type="General" weightage="20" keywordseo="solar-projects" source="keywords">solar projects</keyword> on government buildings of central ministries, states, and union territories. "This collaboration represents a major step forward in our shared vision of a sustainable and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> future. By leveraging our combined strengths, we are confident in achieving our goal of 100 per cent solarisation by 2025," Nanda said. A Memorandum of Understanding (MOU) in this regard was signed on July 17, 2024 between Deepesh Nanda, CEO &amp; MD of TPREL, and S P Rathour, CEO of NHPC-REL, TPREL said in a statement. "This initiative will not only help us meet our solarisation targets but also contribute significantly to reducing the carbon footprint of government buildings," NHPC CMD R P Goyal said. An arm of Tata Power, TPREL is a developer of renewable energy projects including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage. It owns, operates, and maintains these projects. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank">Samsung Galaxy M35 5G with 6,000mAh battery launched in India starting at ₹19,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank">OnePlus Nord 4 vs Realme GT 6T – which mid-range phone should you buy under ₹35,000?</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank">Reliance Jio and Airtel added 3.45 million subscribers in May 2024, while Vi lost nearly a million</a>

Tata Power Renewable Energy, NHPC Renewable join hands for installation of rooftop solar projects

French energy giant <keyword id="11344358" type="General" weightage="20" keywordseo="totalenergies" source="Orion">TotalEnergies</keyword> has invested USD 300 million in a <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> <keyword id="6373972" type="General" weightage="20" keywordseo="joint-venture" source="Orion">joint venture</keyword> with <keyword id="4343578" type="General" weightage="20" keywordseo="adani-green" source="Orion">Adani Green</keyword> Energy Ltd. In a statement, AGEL said it completed "1,050 MW joint venture (JV) with TotalEnergies. As part of the JV, TotalEnergies invested USD 300 million in AGEL subsidiary, for acquiring 50% stake in the projects." This follows the binding agreement about the JV announced between AGEL and TotalEnergies in September 2023. The JV houses the 1,050 MW portfolio comprising a mix of already operational (300 MW), under construction (500 MW) &amp; under development assets (250 MW) with a blend of both <keyword id="45681" type="General" weightage="20" keywordseo="solar" source="Orion">solar</keyword> and <keyword id="43948" type="General" weightage="20" keywordseo="wind" source="Orion">wind</keyword> power projects in India. "Wth this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL's target of 45 GW capacity by 2030." It added.

TotalEnergies invests USD 300 million in Adani Energy project

<ul class="summary-list"><li>Shaun Mitchell left Halliburton for the offshore-wind industry in 2019 and quickly climbed the ranks.</li><li>In early 2023, wind farms became the largest source of electricity in the UK.</li></ul>Shaun Mitchell wasn't looking for a career change in 2019.The 30-year-old Scotland native had spent most of his career as an electrical technician at Halliburton, one of the world's largest oil-field-services companies. It offered Mitchell his first apprenticeship after he graduated from North East Scotland College in 2013 with a certificate in electrical engineering. He completed several years of training before heading off to work on offshore oil rigs.Mitchell saved enough money to take a six-month break and traveled through Thailand, New Zealand, and Australia. He was a freelance electrician in Sydney for a while but then returned home near Aberdeen, Scotland, and got his job back at Halliburton.In 2019, Mitchell heard from an old supervisor who had since moved into <a target="_blank" href="https://www.businessinsider.com/fastest-growing-career-wind-technicians-job-salary-us-2024-6">the offshore-wind industry</a>. Vestas, a wind manufacturer, was looking for technicians for a project in Aberdeen Bay, Scotland, and the supervisor recommended Mitchell for the job."I wasn't really sure because I was quite used to oil and gas, and I enjoyed it," Mitchell said.There were drawbacks, however. The work could be unpredictable."You'd get a call and have to go offshore the next day, not knowing if you'd be there a couple days or three weeks," he said. "The line of work is good when you're young. But when you start having more commitments, it becomes a little harder."Mitchell decided to take the interview with Vestas and left Halliburton, wanting to be a wind-turbine technician."A lot of my skills from working in the oil and gas industry passed straight into the wind industry, which was really beneficial for me," Mitchell said, adding that wind farms are managed by automated control systems, similar to oil and gas equipment.<div type="image" title="A wind turbine under construction off the coast of Scotland." height="1792" width="2500" msid="111265327" hostid="261" sizebytes="724556"></div>He made the jump at a good time. While the UK has been a leader in offshore wind for more than two decades, development has sped up in the past few years — particularly in Scotland — as countries race to meet renewable-energy goals. The UK has the second-largest offshore sector behind China. By early 2023, <a target="_blank" href="https://www.reuters.com/world/uk/british-wind-power-overtakes-gas-first-time-q1-2023-report-2023-05-10/">wind farms became the UK's largest source of electricity</a>, surpassing natural gas.Britain this year budgeted £1 billion, or about $1.3 billion, for renewable-energy subsidies, with 80% of the funds set aside for new offshore wind farms, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-05/uk-to-offer-record-800-million-support-for-offshore-wind-farms">Bloomberg reported</a>. The UK government wants to boost offshore-wind capacity by almost fourfold by 2030, and overall employment in the sector <a target="_blank" href="https://www.thecrownestate.co.uk/news/offshore-wind-industry-unveils-industrial-growth-plan-to-create-jobs">is expected to triple</a> by then.In the US, <a target="_blank" href="https://www.bls.gov/ooh/fastest-growing.htm">wind-turbine technician is the fastest-growing job.</a> While the absolute number of new jobs isn't that big, it represents a projected 45% increase between 2022 and 2032, more than any other occupation. <a target="_blank" href="https://gwec.net/global-wind-workforce-outlook-2023-2027-pr/">Industry groups forecast</a> global demand for about 240,000 new recruits by 2027 across countries including Australia, Brazil, China, Colombia, Egypt, India, Japan, Kenya, South Korea, and the US.Mitchell spent more than four years at Vestas, starting as a technician and quickly moving up to deputy service supervisor and then shift supervisor. Vestas provided training that paved the way for Mitchell's advancement.He said that offshore-wind technicians' day-to-day depended on the weather. The seas can't be too rough; otherwise, it's risky for the crew to travel to the wind farm.The sizes of the vessel and the crew also matter. A larger boat can handle rougher waters. That means there's more work and less downtime. But technicians tend to work a couple of weeks on, a couple of weeks off — so they're away from home for extended periods.Smaller vessels have to wait for the right weather conditions and ferry back and forth to port each day. Technicians can go home each night, but there's more downtime, especially in the winter, Mitchell said."It's rare that an entire wind farm will go down," he added. "But there has been times when multiple turbines go down, but the weather's so rough there's nothing you can do."<div type="image" title="An offshore wind turbine under construction." height="2580" width="4213" msid="111265328" hostid="261" sizebytes="629474"></div>In October, Mitchell left Vestas for Ocean Winds, a joint venture between EDP Renewables and Engie that's focused on offshore-wind development. He's now the operations and maintenance supervisor at Ocean Winds' Moray West project off the coast of Scotland.The 882-megawatt project is still under construction. Once it's finished, it will generate enough power for about 1.3 million homes. Mitchell's team will be responsible for maintaining the wind farms' infrastructure both above and below the water, including the cables that carry power to onshore substations.Mitchell said he'd been able to advance his career in the wind industry a lot faster than in oil and gas. Ocean Winds declined to disclose salary information."Oil and gas is quite well established. It's been around for years and years, so there aren't many opportunities to move up quickly," Mitchell said. "With offshore wind, there's always new sites going up, and they need so much personnel. I got in at a lucky time."

A millennial who switched from working on oil rigs to wind turbines says he's been promoted faster in renewable energy

<keyword id="11933760" type="DOMAIN" weightage="100" keywordseo="inox-wind" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="inox wind" meta.entityname="Inox Wind Ltd." meta.entityid="32069" meta.seoname="inox-wind-ltd">Inox Wind</keyword> on Tuesday said it has bagged a 150 MW wind energy project from <keyword id="14357111" type="General" weightage="50" keywordseo="ntpc-renewable-energy-limited" source="Orion">NTPC Renewable Energy Limited</keyword> (<keyword id="45179" type="DOMAIN" weightage="100" keywordseo="ntpc" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="ntpc" meta.entityname="NTPC Ltd." meta.entityid="12316" meta.seoname="ntpc-ltd">NTPC</keyword>REL) in Gujarat. With this, the total orders awarded to Inox Wind from NTPC to date stands at 550 MW, the company said in a statement. Inox Wind has bagged the order for a 150 MW wind power project from NTPC Renewable Energy Limited. The project will be executed in the state of Gujarat, it added. Inox Wind CEO Kailash Tarachandani said as part of the order, his company will supply and install existing and new technology state-of-the-art wind turbine generators at the project site. Additionally, it will also be responsible for operation and maintenance (<keyword id="389485" type="General" weightage="20" keywordseo="om" source="Orion">O&amp;M</keyword>) services for the project. <keyword id="273760" type="General" weightage="50" keywordseo="inox-wind-limited" source="Orion">Inox Wind Limited</keyword> (<keyword id="2030345" type="General" weightage="50" keywordseo="iwl" source="Orion">IWL</keyword>) is <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s leading wind energy solutions provider, servicing independent power producers (IPPs), utilities, PSUs and corporate investors.

Inox Wind gets 150-MW wind energy project from NTPCREL

<ul class="summary-list"><li>Abaxx is a new commodities exchange that aims to stabilize prices and aid the energy transition.</li><li>"Trade and network keeps the world at peace," Abaxx's CEO told BI.</li></ul>The race to clean-up the global economy is on.Investment in the <a target="_blank" class="" href="https://www.businessinsider.com/us-renewable-energy-transition-solar-electric-vehicles-hit-records-2024-2">energy transition</a> — a broad shift from fossil-based energy production systems to renewable resources like wind and solar power — hit $1.8 billion in 2023, with countries like China and the United States leading the charge, according to BloombergNEF, an energy research company. The International Energy Agency says total investment in clean energy could reach $2 trillion by the end of the year.But the shift to a cleaner, lower-carbon world doesn't depend solely on the work of government officials, legislators, or even major businesses. It also hinges on players working behind the scenes to secure the prices of key commodities like liquefied natural gas, essential for electricity generation and heating, and <a target="_blank" class="" href="https://www.businessinsider.com/fund-carbon-removal-corporates-avoid-bad-credits-2023-2">carbon offsets</a>, which help companies counteract the impact of their carbon emissions.A new Singapore-based commodities exchange called Abaxx, which launched in June, is working to do that by providing companies, governments, and project developers with a transparent marketplace for their trades. Commodities markets help stabilize prices by helping suppliers and consumers figure out fair prices, hedge against volatile price changes, and execute efficient and transparent transactions.Exchanges like Abaxx play a role in this because they help lock in prices and mitigate drastic fluctuations in the future. Abaxx deals in futures contracts, legally binding agreements to buy or sell commodities at a specified future date. Three regionally deliverable liquified natural gas contracts and two carbon offset contracts are already trading on the exchange. It's working on launching futures contracts for gold and battery metals, like lithium, a component in <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-cheaper-electric-vehicle-battery-technology-lithium-shift-2023-3">batteries that power EVs like Tesla</a>.Josh Crumb, the CEO and founder of Abaxx, says unclear pricing can lead to higher and more volatile prices for consumers while also forcing commodity producers to navigate turbulent investment cycles."If we look at the battery supply chain, nickel sulfate, lithium, cobalt, these things have gone through huge swings of boom and bust over the last couple of years," Crumb told Business Insider. "The main reason why is we don't have a lot of market transparency so that people can forward plan, price, hedge, all of that."Crumb first realized that the commodity industry needed more innovation when he was working as a <a target="_blank" class="" href="https://www.businessinsider.com/rip-goldman-sachs-wall-street-investment-bank-dead-2023-11">strategist at Goldman Sachs</a> in the years following the 2008 financial crisis. That coincided with the end of the commodities boom of the 2000s, during which the prices of many commodities, from food to oil to chemicals, had drastically surged.Now, with trading in full swing, Crumb hopes Abaxx will play a role in stabilizing what he sees as the next commodity investment cycle — marked not just by a need for new commodities to facilitate the energy transition but also a surge in electrification."When people speak of the energy transition to a lower carbon economy, they are usually speaking of replacing internal combustion engines with electric vehicles, with electricity supplied by low carbon renewables, hydro, and nuclear power. This will lead to a dramatic increase in electricity consumption," a representative for Crumb wrote to Business Insider by email. Between 2022 and 2050, global electricity generation is expected to surge at a faster rate than it did over the past decade, according to a report from the International Energy Agency.Most importantly, though, exchanges like Abaxx could play a critical role in geopolitics, Crumb said. "You want more transparency; you want more markets because we think that leads to more peace," he said. "We think trade and networks keeps the world at peace."

Founder of new commodities exchange explains how it can fuel the green energy transition

<keyword id="20196387" type="General" weightage="20" keywordseo="avaada-group" source="keywords">Avaada Group</keyword> on Monday said it has committed investments worth Rs 40,000 crore for development of 6,000 MW hybrid <keyword id="3418615" type="General" weightage="20" keywordseo="wind-solar" source="Orion">wind-solar</keyword> projects in <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword>. The agreement was signed in the presence of Gujarat Chief Minister Bhupendrabhai Patel on the sidelines of the Vibrant Gujarat Global Summit 2024 on January 10-12 at Gandhinagar, a company statement said. According to the statement, <keyword id="20197400" type="General" weightage="20" keywordseo="avaada" source="keywords">Avaada</keyword> Group has signed a Memorandum of Understanding (MoU) with the <keyword id="6370685" type="General" weightage="20" keywordseo="gujarat-government" source="Orion">Gujarat government</keyword>. This <keyword id="116175" type="General" weightage="20" keywordseo="strategic-alliance" source="Orion">strategic alliance</keyword> aims to set up hybrid wind-solar projects with an aggregate 6,000 MW (6 GW) capacity in the state with an investment of about Rs 40,000 crore. The group's commitment to green initiatives in Gujarat is underscored by substantial investments in the development of a robust renewable energy ecosystem. The <keyword id="6476394" type="General" weightage="20" keywordseo="hybrid-projects" source="Orion">hybrid projects</keyword>, located in various districts of Gujarat, predominantly in the underdeveloped wastelands of Kutch, will supply power to various utilities of India including GUVNL (Gujarat Urja Vikas Nigam Ltd), and for captive use of Avaada's green hydrogen/ammonia projects. These projects will substantially reduce the carbon emissions and dependability of conventional power sources. With an estimated annual generation of 17.5 billion units of green electricity, this will lead to a reduction of approximately 16.3 million tonnes of CO2 equivalent emissions annually, contributing significantly to India's green energy supply and powering nearly 12.6 million households. Moreover, it will generate 1,200 direct and indirect jobs, thereby contributing to local and regional economic development. "This strategic partnership signifies our unwavering commitment to foster a robust, clean energy ecosystem. Besides the signing of the new 6 GW capacity in the state, we already have projects of 2 GW capacity that are operational or at various stages of implementation in the state of Gujarat," Vineet Mittal, Chairperson of Avaada Group, said in the statement. Avaada Group is into production of solar modules, renewable power generation, and the development of large-scale projects for green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.

Avaada Group to invest Rs 40,000 cr to develop 6 GW hybrid renewable projects in Gujarat

<ul class="summary-list"><li>Amazon wants to expand its use of nuclear power to meet rising AI energy needs.</li><li>The company's energy strategy team recently pitched CEO Andy Jassy on the benefits of nuclear power.</li></ul>In June, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-big-tech-cash-king-wall-street-wants-a-piece-2024-10">Amazon's</a> Global Energy Strategy team pitched CEO Andy Jassy the idea of doubling down on <a target="_blank" class="" href="https://www.businessinsider.com/amazon-google-microsoft-openai-big-tech-investment-nuclear-ai-race-2024-10">nuclear power</a> to support its growing network of <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-energy-centers-water-energy-land-2023-10">data centers</a>.The group argued that nuclear can be more reliable and cost-efficient than other clean energy sources, such as wind and solar. Jassy agreed, according to an internal Amazon document from the third quarter that was obtained by Business Insider."We have strong conviction that nuclear power is the most economical and credible path to scale carbon free energy to meet the next decade's rapid capacity growth," the company's energy strategy team wrote. "We took this conviction to <a target="_blank" class="" href="https://www.businessinsider.com/amazon-andy-jassy-wooed-wall-street-overhauled-bloated-tech-giant-2024-7">Andy Jassy</a> in June 2024, and received approval to execute against our proposed expansion to the carbon free energy strategy through new nuclear generation."<div type="image" title="Andy Jassy onstage at an event." height="1293" width="1940" msid="114563910" hostid="261" sizebytes="57026"></div>Fast forward a few months and Amazon's nuclear ambitions are becoming clearer. Last week, Amazon <a target="_blank" href="https://www.businessinsider.com/amazon-invests-in-nuclear-for-aws-following-google-and-microsoft-2024-10">led</a> a $500 million investment in X-energy to develop small modular reactors, following <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">an earlier deal</a> to buy power from a nuclear plant in Pennsylvania.<a target="_blank" class="" href="https://www.businessinsider.com/servicenow-ceo-bill-mcdermott-ai-software-2024-10">Generative AI</a> is the main reason for this sudden interest in nuclear energy. Running these new AI workloads in data centers requires <a target="_blank" class="" href="https://www.businessinsider.com/ai-data-centers-energy-cloud-microsoft-chatpgt-amazon-google-2023-7">way more electricity</a> than traditional computing tasks. Burning <a target="_blank" class="" href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">more coal</a> and other fossil fuels is bad for the environment, so nuclear is an attractive alternative, despite its checkered safety record.Amazon sees nuclear as a key part of dealing with this AI-driven <a target="_blank" class="" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">surge in energy demand</a>. The company considered tapping into at least four additional existing nuclear power plants and sought even more small modular reactor deals. It also looked at other energy sources, such as geothermal, to meet long-term renewable energy goals, according to the internal document."Machine Learning, GenAl and commercial capacity demand continues to significantly outpace available power capacity globally and requires new solutions that are reliable, cost-effective and carbon free," the document explained, while noting that success in this space would help Amazon Web Services meet customer needs for sustainable data center capacity.<h2 id="9f054fc5-4a26-481d-81e9-4ebeece00b52">Amazon considers all solutions</h2>An Amazon spokesperson said the final details of the company's plans could be "very different from the preliminary ideas," and cautioned against drawing conclusions from an "outdated" document.The cloud giant supports more than 500 solar and wind projects, and has been the largest corporate purchaser of renewable energy for four years in a row. It's also investing in emerging technologies through a Climate Pledge Fund, the spokesperson added."There isn't a one-size-fits-all solution for transitioning to carbon-free energy and we believe all viable and scalable options should be considered, so we frequently consider a wide range of projects before deciding which ones we move forward with," the spokesperson wrote in a statement.<h2 id="e4e8b6a9-955c-4738-a29e-1533eb23b75f">Big Tech's embrace</h2><div type="image" title="three mile island" height="1343" width="2000" msid="114563911" hostid="261" sizebytes="136424"></div>Amazon isn't the only big tech company embracing nuclear to meet AI's insatiable hunger for power.Google recently <a target="_blank" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">unveiled</a> a partnership with Kairos Power to build small modular nuclear reactors. OpenAI CEO Sam Altman loves talking about nuclear and has backed projects. Microsoft <a target="_blank" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">struck a deal</a> to get power from the Three Mile Island nuclear plant.That last deal highlights the nuclear industry's troubled past. In 1979, Three Mile Island <a target="_blank" class="" href="https://www.businessinsider.com/what-happened-three-mile-island-worst-us-nuclear-disaster-2019-8">experienced</a> a major disaster that stalled the US nuclear sector for decades. There have been even worse events in <a target="_blank" class="" href="https://www.businessinsider.com/category/chernobyl">Chernobyl</a> and <a target="_blank" class="" href="https://www.businessinsider.com/haunting-photos-of-the-fukushima-disaster-zone-2017-3">Fukushima</a>.<h2 id="991ea7a5-102b-4e4a-bbbd-ca9c560c342b">"Piano Man"</h2>Prior to the June meeting with Amazon's Global Energy Strategy team, Jassy approved another nuclear plan in December 2023, according to the internal document obtained by BI.Under that plan, codenamed "Piano Man," Amazon targeted existing nuclear plants that had spare capacity. The company wanted to sign agreements that gave it access to "dedicated, reliable power" in the future. The first project within this strategy was announced in March, when Amazon <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">agreed</a> to pay $650 million to purchase energy from a nuclear power plant in Pennsylvania, the internal document showed.Amazon considered at least 4 other similar nuclear projects, the document stated. One was in Maryland for an option to use up to 0.88 gigawatt of energy. Another was in Texas for 1.2 gigawatts. There were two other arrangements in Pennsylvania for 0.96 gigawatt and 0.9 gigawatt of power each. In general, a one gigawatt plant is estimated to have enough capacity to power roughly 876,000 households for a year.It is unclear whether Amazon is still looking into these types of "Piano Man" deals."There are limited pipeline opportunities after these projects, but we will continue to develop all feasible options," the document explained.<h2 id="8dc1cc69-aec8-4677-aef7-89452bc1e7b2">Learning curve</h2><div type="image" title="The cooling towers of a nuclear power plant against a blue sky." height="1414" width="2121" msid="114563912" hostid="261" sizebytes="98642"></div>Amazon has also been "actively conducting due diligence" on more than a dozen opportunities in the small modular reactor space. As part of this, the company has developed relationships with utilities, nuclear construction companies, and the US Department of Energy, according to the document.Nuclear power can be safer, more reliable, and more cost-efficient in the long term compared to other power sources, according to Jacopo Buongiorno, a nuclear engineering professor at MIT. However, he said some of the new advanced small modular reactors are still being tested and often use different designs and systems, making them a relatively riskier option."There will be a learning curve because some of these technologies are not mature yet," Buongiorno told BI.<h2 id="1b22c795-2c48-4282-8e9c-8728dc854c1e">Prioritize 'earlier access to power'</h2>The internal Amazon document described the company's nuclear initiatives as part of a broader "non-standard" energy plan. The company also looked into power arrangements for natural gas plants and geothermal energy."As we drive development of first of a kind, non-standard energy sources within the industry, our scope is primarily medium to long term, supplying power in large amounts beyond 2030," the document stated.In 2024, Amazon's goal is to deliver 8 gigawatts of incremental renewable energy, the document said. Amazon reached 4.1 gigawatts of renewable energy in 2023 and 10.2 gigawatts in 2022, it noted.The internal document listed the main "tenets" that the Global Energy Strategy team follows. It emphasized delivering "highly reliable, cost-effective" power on time, and making bets on technologies that are "on the cusp of scaling and mass adoption."It also stressed the need to find the earliest available power options."While we target obtaining large amounts of power over time, we will prioritize opportunities with the earlier access to power," it said.Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a>) or email (<a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a>). Reach out using a nonwork device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide</a> for other tips on sharing information securely.

You Searched For "Wind energy projects" and got 10 results

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