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The Cabinet on Thursday approved Rs 12,000 crore for the second phase of the <keyword id="1869019" type="General" weightage="20" keywordseo="green-energy-corridor" source="Orion">Green Energy Corridor</keyword> to facilitate grid integration and power evacuation of about 20 GW of renewable energy projects in seven states. The scheme targets to add approximately 10,750 circuit kilometres of transmission lines and about 27,500 mega volt-amperes transformation capacity of sub-stations. Announcing the decision, Union Minister Anurag Thakur said the second phase will be implemented during 2021-22 to 2025-26 fiscal years. He said central assistance is 33 per cent of the total investment. The minister added that 80 per cent of the phase one work has been completed. The outlay of the first phase was Rs 10,142 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/top-electric-scooters-and-electric-bikes-in-india-in-january/articleshow/73658940.cms">Top electric scooters and electric bikes in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/travel-restrictions-in-uk-us-france-germany-for-indian-travellers-during-covid/articleshow/88728921.cms">If you are looking to travel to UK, US or France, these are the restrictions you need to know</a>

Cabinet approves ₹12,000 crore for second phase of green energy corridor

Indias largest <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> company, has priced its maiden ListCo senior issuance of USD 750m through a 3 year issuance under the 144A/Reg S format, at a fixed coupon of 4.375%. The issuance was oversubscribed by 4.7x. This issuance establishes <keyword id="4621631" type="General" weightage="20" keywordseo="AGEL" source="Orion">AGEL</keyword> as India's leading credit in the renewable sector with a robust and well defined capital management plan. The funds will be utilised towards equity funding of the capex for underlying renewable projects under construction by AGEL. Under the structure, AGEL can draw upto USD 1,700m (including the present issuance) over the course of time subject to the covenants of the structure. The notes were rated Ba3 (Stable) by Moody's. Earlier in the year, AGEL had completed the tie-up of a USD 1.35 bn revolving construction framework arrangement for senior debt funding of construction stage projects. With this USD 750 mn ListCo issuance, AGEL has completed the final phase of its capital management plan, and now has a fully funded program for both debt and equity for its stated target of 25 GW by 2025. "The 4.7X oversubscription of this issuance is testimony of the confidence of global investors in the world's fastest growing renewable energy platform and Adani's capability to set up a world class clean energy business" said Vneet S Jaain, MD and CEO, AGEL. "This ListCo Senior Green Bond issuance is yet another landmark transaction for AGEL and fully funds our pipeline of projects and reinforces our commitment towards being a sustainability focused global infrastructure platform. We expect to further accelerate our footprint and are firmly on track to become the world's largest renewable energy company by 2030." In line with the Adani Group's energy mix transition, AGEL has grown rapidly and has consistently demonstrated the strength of the company's clean energy business model and its commitment to global benchmarks of ESG. It follows the guiding principles of the <keyword id="6355833" type="General" weightage="20" keywordseo="United-Nations" source="Orion">United Nations</keyword> Sustainable Development Goals, United Nations Global Compact and the Science Based Targets Initiative. AGEL will also ensure adherence to global best practices of disclosure aligned with TCFD recommendations, GRI standards and CDP disclosures. Top external agencies have provided assurance on AGEL's green framework. Vigeo Eiris, a subsidiary of Moody's Investor Service, has provided a second party opinion endorsing AGEL's green framework and KPMG has provided independent assurance on the same. The joint lead managers (JLMs) to the Issuance were Axis Bank, Barclays, BNP Paribas, DBS Bank Ltd., Emirates NBD Capital, IMI-Intesa Sanpaolo, MUFG, Mizuho Securities, SMBC Nikko and Standard Chartered Bank. The JLMs were represented by Linklaters and Talwar Thakore &amp; Associates. The Issuer was represented by Latham &amp; Watkins and Cyril Amarchand Mangaldas. MUFG Bank acted as lead green structuring advisor and Standard Chartered Bank acted as co-green structuring advisor. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/six-month-old-investment-advisory-startup-dezerv-raises-7-million/articleshow/85865111.cms">Six-month-old investment advisory startup Dezerv raises $7 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/phonepe-is-citing-data-to-argue-that-merchants-should-pay-for-upi-transactions/articleshow/85863071.cms">PhonePe is citing data to argue that merchants should pay for UPI transactions</a>

Adani Green Energy raises $750 million, aims to become world's largest renewable energy company by 2030

Amaravati, June 22 (IANS) In a boost to the green energy sector in Andhra Pradesh, Chief Minister Y.S. Jagan Mohan Reddy has cleared pump storage projects proposed by <keyword id="3179546" type="General" weightage="100" keywordseo="Adani-green-energy" source="Orion">Adani Green Energy</keyword> with a total capacity of 3,700 MW. The project was cleared in the State Investment Promotion Board (SIPB) review meeting on Wednesday. Chief Minister Jagan Mohan Reddy has cleared the proposal of investment of Rs 15,740 crore which is a part of the proposed total investment of Rs 60,000 crore by <keyword id="76451" type="General" weightage="20" keywordseo="adani" source="Orion">Adani</keyword> Group in the state of Andhra Pradesh that was discussed during the World Economic Forum meet at Davos recently. The project will generate 10,000 jobs across four districts of Andhra Pradesh. Adani Group has proposed pump storage projects in four districts of the state - two plants to be set up in Parvathi Puram, one in YSR Kadapa, and one in Satya Sai district. In Parvathi Puram, a 1200 MW capacity plant will be set up in Kurukutti, and a 1000 MW plant in Karrivalasa. Meanwhile, a 1000 MW plant will be set up in Gandikota while 500 MW plant in Chitravathi. In each of these districts, Adani Group has proposed that they will be generating 3,000 jobs in Kurukutti, 3000 in Karrivalasa, 1500 in Chitravathi and 2500 in Gandikota. The project is stipulated to commence in December 2022 and is likely to commission in December 2028. While the plants will be set up spanning across 1,490 acres of land, the state government has decided that the land will be leased from farmers at the cost of Rs 30,000 per acre in these districts, which will be transferred to the farmers directly. Meanwhile, the state will be generating a revenue of Rs 2,775 crore from the project in terms of the power stored and an additional Rs 980 crore from the SGST. "This will give a big boost to the state in terms of investment and a positive message as the employment rate continues to rise in the state," Andhra Pradesh CM YS Jagan Mohan Reddy said in the meeting. In other decisions taken in the SIPB meeting, the government has decided to apply for the PM MITRA scheme, which proposes to set up an integrated textile park in YSR Jagananna Mega Industrial Hub at Kopparthy in YSR District. The government, as per the conditions laid down under the scheme, has proposed that they would be fixing the power cost at Rs 4.5 per unit and Rs 60 per TMC of water for the 10-year period of the project. The SIPB has also cleared the setting up of a shrimp processing unit at the food park in Krishna district by Avisa Foods Private Limited. The project would generate 2,500 jobs in 12 months and the company has requested for 11.64 acres of land from the state government of Andhra Pradesh. The SIPB has decided to lease the 11.64 acres at the cost of Rs 1,027 per sqm. The government has also laid out condition that the effluent treatment plant (ETP) would be set up by the company.

Adani green energy projects worth Rs 15,740 cr cleared by AP Govt.

<ul><li><keyword id="4343578" type="General" weightage="20" keywordseo="adani-green" source="Orion">Adani Green</keyword> Energy is very well positioned to leverage the currency wave of renewable energy buzz in the country.</li><li>The company’s shares have jumped 18% in the last five days and 45% in the last one month.</li><li>Expectations of higher fund allocation to this sector in the budget is another reason for the rally in the stock.</li></ul>The renewable energy space has been one solid bet for investment in the last one year as the Indian government is working aggressively towards adding renewable energy capacity and becoming a net zero country by 2070. Indian Prime Minister Narendra Modi’s <a href="https://economictimes.indiatimes.com/industry/renewables/modis-cop26-goals-could-mean-a-massive-energy-overhaul-in-india/articleshow/87494861.cms">speech </a>in Glasgow, at the COP26 Summit in October 2021, had mentioned a target of achieving 500 gigawatts of installed power capacity from non-fossil sources by 2030 and becoming net zero by 2070. As a result, shares of the Adani Group company, Adani Green Energy, and several other <keyword id="10100824" type="General" weightage="20" keywordseo="renewable-energy-stocks" source="Orion">renewable energy stocks</keyword> have been on an upward trend. Adani Green has a mix of solar, wind and hybrid power projects across the country. Moreover, there is a big <a href="https://www.businessinsider.in/budget/news/india-is-expected-to-make-big-budget-allocation-for-renewable-energy/articleshow/89000378.cms">expectation</a> that there may be big bucks allocated in the budget to promote the construction of new capacity in solar, wind and hydropower projects. <div type="image" title="2 (2)" height="900" width="1200" msid="89013275" hostid="261"></div>“The whole green energy space is in an uptrend since India signed the Paris Agreement and Narendra Modi said India declared India is going to be carbon neutral by 2050. Moreover, the upcoming union budget is expected to provide some tax relief to the whole renewable energy sector,” Kranthi Bathini, director of equity strategy at WealthMills Securities told Business Insider. Adani Green Energy made a profit of ₹183 crore in FY21 after making a loss in the preceding two years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,124 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹183 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2549 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹67.96 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,058 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹475.05 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table><div type="image" title="adani green 3" height="900" width="1200" msid="89014497" hostid="261"></div>Most of the companies into renewable energy have doubled their stock price in the last one year. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies into renewable energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% change in last one year </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gita Renewable Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1660% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">JSW Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">302% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Websol Energy Systems </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">261% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">192% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Borosil Renewables </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">141% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">105% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Green Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">91% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sterling and Wilson Renewable Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">56% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Governments across the world are committed to building a sustainable environment and thus the <keyword id="2237592" type="General" weightage="20" keywordseo="renewable-energy-industry" source="Orion">renewable energy industry</keyword> is a key beneficiary of such policies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/india-is-expected-to-make-big-budget-allocation-for-renewable-energy/articleshow/89000378.cms">India is expected to make big budget allocation for renewable energy but Modi needs states on board to fight climate change</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/justdial-cant-beat-google-and-it-should-stop-trying-to-say-analysts/articleshow/89010438.cms">JustDial can’t beat Google and it should stop trying to, say analysts</a>

Adani Green Energy stock has jumped 45% this year to become more valuable than L&T, Maruti Suzuki, and Axis Bank

<keyword id="3179546" type="General" weightage="20" keywordseo="Adani-Green-Energy" source="Orion">Adani Green Energy</keyword> Ltd (<keyword id="4621631" type="General" weightage="80" keywordseo="agel" source="Orion">AGEL</keyword>) on Wednesday said it has received recognition for conserving water against consumption. "AGEL has been certified Water Positive by DNV, an independent global assurance agency. The verification statement signifies that AGEL's <keyword id="6362691" type="General" weightage="20" keywordseo="water-conservation" source="Orion">water conservation</keyword> is greater than consumption," a company statement said. DNV conducted a qualitative and quantitative assessment of the water balance index for AGEL's operational sites having greater than 200 MW capacity in Tamil Nadu, Rajasthan, Karnataka, Gujarat and Andhra Pradesh. As per the assessment, the water balance index is 1.12 (positive), surpassing its target to become net water neutral by FY25, way ahead of time. The verification process entailed sample-based checks and the methodology, measurement techniques, estimation methods, assumptions and uncertainties involved in the process of water accounting as adopted by AGEL. AGEL has recorded a 99.5 per cent lower freshwater consumption per unit of generation as against the 3.5 KL/MWh statutory limit for thermal power in FY23. Adani <keyword id="5367310" type="General" weightage="50" keywordseo="green-energy-limited" source="Orion">Green Energy Limited</keyword> is the renewable energy platform of <keyword id="13943014" type="General" weightage="50" keywordseo="adani-portfolio" source="Orion">Adani Portfolio</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/siraj-reported-corrupt-approach-to-bcci-acu-before-australia-tour-bcci-source/articleshow/99607664.cms">Siraj reported corrupt approach to BCCI ACU before Australia tour: BCCI source</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/taking-a-bite-out-of-apples-secrets-mind-blowing-facts-you-might-not-know/slidelist/99608695.cms">Taking a bite out of Apple's secrets: Mind-blowing facts you might not know</a>

Adani Green Energy gets certification from DNV for water conservation

<div class="image-container float_right"><div class="image"><a href="http://earthobservatory.nasa.gov/IOTD/view.php?id=79800">via NASA</a></div></div>
The push for <keyword id="60895" type="UNKNOWN" weightage="60" keywordseo="Green-energy">green energy</keyword> in the United States may be hindered by the limitations of our outdated power grids, which are unsuited for unpredictable <keyword id="6357014" type="ENTERTAINMENT" weightage="60" keywordseo="energy">energy</keyword> sources like sunlight and wind, according to <a href="http://www.latimes.com/nation/la-na-grid-renewables-20131203,0,6231790,full.story#axzz2mQhFfy6T" target="_blank">Los Angles Times' Evan Halper</a>.
<a href="http://www.latimes.com/nation/la-na-grid-renewables-20131203,0,6231790,full.story#axzz2mQhFfy6T" target="_blank"></a>The current grid system is designed to "keep the supply of power steady and predictable," Halper writes. But energy from renewable sources isn't steady and can't be controlled - a windy day could overload the system, while sudden cloud cover above a solar field would make it hard to keep the lights on.
<a href="http://www.latimes.com/nation/la-na-grid-renewables-20131203,0,6231790,full.story#axzz2mQhFfy6T" target="_blank">From the Los Angeles Times</a>:
"The grid was not built for renewables," said Trieu Mai, senior analyst at the National <keyword id="34553" type="ORGANIZATION" weightage="60" keywordseo="renewable-energy">Renewable Energy</keyword> Laboratory.
The frailty imperils lofty goals for greenhouse gas reductions. Concerned state and federal officials are spending billions of dollars in ratepayer and taxpayer money in an effort to hasten the technological breakthroughs needed for the grid to keep up with the demands of clean energy.
Unlike traditional sources of electricity, like oil or coal, green energy is praised because there's no fear of it running out, and it's carbon-neutral, so it doesn't contribute to climate change.
But without the <a href="http://www.businessinsider.com/renewable-energy-storage-problem-2013-11">ability to store energy</a> from wind turbines or solar fields - an extremely costly endeavor - renewable sources will continue to cause issues for the current system:
Already, power grid operators in some states have had to dump energy produced by wind turbines on blustery days because regional power systems had no room for it. Officials at the California Independent System Operator, which manages the grid in California, say renewable energy producers are making the juggling act increasingly complex.
"We are getting to the point where we will have to pay people not to produce power," said Long Beach Mayor Bob Foster, a system operator board member.
This isn't a reason not to invest in green energy, since our <a href="http://articles.washingtonpost.com/2012-08-01/local/35493997_1_power-grid-power-plants-new-nuclear-plants" target="_blank">aging and over-stretched power grid</a> is already in need of an expensive upgrade.
"Experts fear failures that caused blackouts in New York, Boston and San Diego may become more common as the voracious demand for power continues to grow," <a href="http://articles.washingtonpost.com/2012-08-01/local/35493997_1_power-grid-power-plants-new-nuclear-plants" target="_blank">The Washington Post wrote last August</a>. "They say it will take a multibillion-dollar investment to avoid them."
Some states, like California, have plans to redesign large networks of electrical lines so they are more compatible with solar- and wind-powered plants, according to the Times, but this won't happen overnight.
In the meantime, renewable energy has become backburner initiative for suppliers that are simply focused on preventing a grid collapse.

Green Energy Could Crash The U.S. Power Grid 

<keyword id="19895436" type="General" weightage="20" keywordseo="Adani-Green-Energy-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Green Energy Ltd" meta.hostid="261" meta.entityid="Adani Green Energy Ltd">Adani Green Energy Ltd</keyword> (AGEL) on Friday posted a 38.85 per cent decline in consolidated net profit to Rs 310 crore for the March quarter, mainly on account of increased expenses. Its net profit was Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing. During the fourth quarter of FY24, the company's total income fell to Rs 2,806 crore from Rs 2,977 crore a year ago. The company's expenses surged to Rs 2,379 crore during the period under review, as against Rs 2,053 crore in the year-ago period. In a separate statement, the company said its operational capacity grew at 35 per cent year-on-year to 10,934 MW with greenfield addition of 2,848 MW renewable capacity, including 2,418 MW solar and 430 MW wind projects. With this, AGEL became the first company in India to cross the 10,000 MW <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity. AGEL's 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually. The sale of energy increased 47 per cent year-on-year to 21,806 million units in FY24, primarily backed by strong capacity addition, consistent solar CUF (capacity utilisation factor) and improved wind and hybrid CUF. The revenue from power supply rose 23 per cent to Rs 1,575 crore from Rs 1,941 crore earlier. <keyword id="19919864" type="General" weightage="20" keywordseo="Adani-Green-Energy" source="keywords">Adani Green Energy</keyword> Ltd Chief Executive Officer Amit Singh said, "We have deployed the first 2 GW of the 30 GW of renewable capacity under construction at Khavda in just 12 months of breaking ground. "Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum." The company aims to commission at least 5 GW of hydro-pumped storage projects by 2030, and set a higher target of 50 GW RE capacity by 2030, which will contribute towards India's non-fossil fuel capacity target of 500 GW, he said. AGEL further said it has commenced construction work on its first hydro pumped storage project (PSP) of 500 MW on the Chitravathi river. The project is located at Peddakotla in Sri Sathya Sai district of Andhra Pradesh. The existing reservoir will act as the lower reservoir and the upper reservoir is to be developed. The generation capacity will be 500 MW with estimated 6.2 generation hours in a day. All necessary approvals, including the final DPR approval are in place and financial closure has been achieved for the project. Part of Adani Group, AGEL is India's largest and one of the leading renewable energy companies in the world enabling clean energy transition. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a><a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank">T20 World Cup: Here are the squads announced by major participating countries so far</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a>

Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses

New Delhi: Shares of <keyword id="20599931" type="General" weightage="100" keywordseo="NTPC-Green-Energy" source="keywords">NTPC Green Energy</keyword> Ltd, the <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> arm of <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords" meta.keywordsubtype="org" meta.entityname="NTPC" meta.hostid="261" meta.entityid="NTPC">NTPC</keyword>, listed with a premium of over 3 per cent against the issue price of Rs 108 on Wednesday. The stock made its debut at Rs 111.60, up 3.33 per cent from the issue price on the BSE. Later, it climbed 12.40 per cent to Rs 121.40. At the NSE, it listed at Rs 111.50, up 3.24 per cent. The company's market valuation stood at Rs 1,02,211.38 crore during the morning trade. Shares of NTPC climbed nearly 2 per cent to Rs 368.80 on the BSE. The <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale on Friday. The Rs 10,000-crore share sale had a price band of Rs 102-108 per share. Proceeds from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes. NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy shares debut with over 3% premium

ROSCOE, S.D. (AP) - Robert Malsam nearly went broke in the 1980s when corn was cheap. So now that prices are high and he can finally make a profit, he's not about to apologize for ripping up prairieland to plant corn.
Across the Dakotas and Nebraska, more than 1 million acres of the Great Plains are giving way to cornfields as farmers transform the wild expanse that once served as the backdrop for American pioneers.
This expansion of the Corn Belt is fueled in part by America's <keyword id="60895" type="UNKNOWN" weightage="60" keywordseo="Green-energy">green energy</keyword> policy, which requires oil companies to blend billions of gallons of corn ethanol into their gasoline. In 2010, fuel became the No. 1 use for corn in America, a title it held in 2011 and 2012 and narrowly lost this year. That helps keep prices high.
"It's not hard to do the math there as to what's profitable to have," Malsam said. "I think an ethanol plant is a farmer's friend."
What the green-energy program has made profitable, however, is far from green. A policy intended to reduce global warming is encouraging a farming practice that actually could worsen it.
That's because plowing into untouched grassland releases carbon dioxide that has been naturally locked in the soil. It also increases erosion and requires farmers to use fertilizers and other industrial chemicals. In turn, that destroys native plants and wipes out wildlife habitats.
It appeared so damaging that scientists warned that America's corn-for-ethanol policy would fail as an anti-global warming strategy if too many farmers plowed over virgin land.
The Obama administration argued that would not happen. But the administration didn't set up a way to monitor whether it actually happened.
It did.
More than 1.2 million acres of grassland have been lost since the federal government required that gasoline be blended with increasing amounts of ethanol, an Associated Press analysis of satellite data found. Plots that were wild grass or pastureland seven years ago are now corn and soybean fields.
That's in addition to the 5 million acres of farmland that had been aside for conservation - more than Yellowstone, Everglades and Yosemite National Parks combined - that have vanished since Obama took office.
In South Dakota, more than 370,000 acres of grassland have been uprooted and farmed from since 2006. In Edmunds County, a rural community about two hours north of the capital, Pierre, at least 42,000 acres of grassland have become cropland - one of the largest turnovers in the region.
Malsam runs a 13-square-mile family farm there. He grows corn, soybeans and wheat, then rents out his grassland for grazing. Each year, the family converts another 160 acres from grass to cropland.
Chemicals kill the grass. Machines remove the rocks. Then tractors plow it three times to break up the sod and prepare it for planting.
Scattered among fields of 7-foot tall corn and thigh-high soybeans, some stretches of grassland still exist. Cattle munch on some grass. And "prairie potholes" - natural ponds ranging from small pools to larger lakes - support a smattering of ducks, geese, pelicans and herons.
Yet within a mile of Malsam's farm, federal satellite data show, more than 300 acres of grassland have been converted to soybeans and corn since 2006.
Nebraska has lost at least 830,000 acres of grassland, a total larger than New York City, Los Angeles and Dallas combined.
"It's great to see farmers making money. It hasn't always been that way," said Craig Cox of the Environmental Working Group. He advocates for clean energy but opposes the ethanol mandate. "If we're going to push the land this hard, we really need to intensify conservation in lockstep with production, and that's just not happening," he said.
Jeff Lautt, CEO of Poet, which operates ethanol refineries across the country, including in South Dakota, said it's up to farmers how to use their land.
"The last I checked, it is still an open market. And farmers that own land are free to farm their land to the extent they think they can make money on it or whatever purpose they need," he said.
Yet Chris Wright, a professor at South Dakota State University who has studied land conversion, said: "The conversation about land preservation should start now before it becomes a serious problem." Wright reviewed the AP's methodology for determining land conversion.
The AP's analysis used government satellite data to count how much grassland existed in 2006 in each county, then compare each plot of land to corresponding satellite data from 2012.
The data from the U.S. Geological Survey and the Department of Agriculture identify corn and soybean fields. That allowed the AP to see which plots of grassland became cropland.
To reach its conservative estimate of 1.2 million acres lost, the AP excluded grassland that had been set aside under the government's Conservation Reserve Program, in which old farmland is allowed to return to a near-natural state. The AP used half-acre sections of earth and excluded tiny tracts that became corn, which experts said were most likely outliers.
Corn prices more than doubled in the years after Congress passed the ethanol mandate in 2007. Now, Malsam said, farmers can make about $500 an acre planting corn.
His farm has just become profitable in the past five years, allowing him and his wife, Theresa, to build a new house on the farmstead.
Four miles south, signs at each end of the town of Roscoe announce a population of only 324. But the town, which relies in part on incomes like Malsam's, supports a school, a restaurant, a bank, a grocery store and a large farm machinery store.
The manager of the equipment dealership, Kaleb Rodgers, said the booming farm economy has helped the town and the dealership prosper. The business with 28 employees last year sold a dozen combines at about $300,000 apiece, plus more than 60 tractors worth between $100,000 and $300,000, he said.
"If we didn't have any farmers we wouldn't have a community here. We wouldn't have a business. I wouldn't be sitting here. I wouldn't be able to feed my family," Rodgers said. "I think ethanol is a very good thing."
Jim Faulstich, president of the South Dakota Grasslands Coalition, said the nation's ethanol and crop insurance policies have encouraged the transformation of the land.
Faulstich, who farms and ranches in central South Dakota near Highmore, said much of the land being converted is not suited to crop production, and South Dakota's strong winds and rains will erode the topsoil.
"I guess a good motto would be to farm the best and leave the rest," he said.
___
Gillum reported from Washington. Associated Press writers Dina Cappiello and Matt Apuzzo contributed to this report from Washington.
<div class="nc_footer">
Copyright (2013) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
</div>

Government Green Energy Laws Are Having Some Ruinous Environmental Consequences In The Heartland

Ahmedabad, Deepening its <keyword id="116175" type="ORGANIZATION" weightage="20" keywordseo="strategic-alliance">strategic alliance</keyword> in India's sustainable energy space, French energy major Total proposes to acquire 20% minority interest in Adani Green Energy Ltd. (AGEL). The deal will be completed with Total acquiring shares held by the Adani Promoter Group in AGEL. The transaction marks the deepening partnership between the <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword> and Total -- in the transition and green energy fields in India. The investment in AGEL is another step in the strategic alliance between Adani Group and Total, across various businesses and companies of the Adani Group, covering investments in LNG terminals, gas utility business, and renewable assets across India. In 2018, Total and Adani embarked on the energy partnership with investment by Total in <keyword id="5214668" type="COMPANY" weightage="20" keywordseo="Adani-Gas-Limited">Adani Gas Limited</keyword>, city gas distribution business, associated LNG terminal business and gas marketing business. Total acquired 37.4% stake in Adani Gas Limited and 50 per cent stake in Dhamra LNG project. During the development of this partnership, it was further agreed that Total and Adani shall continue this alliance into the wider sustainable energy space. Total and Adani agreed the acquisition of a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $ 2.5 Billion. India has set a policy target of setting up 450 GW of renewable power capacity by 2030. In this context, Adani Group and Total have joined hands to develop green power sources at affordable prices and to deliver transformational energy solutions. AGEL, started in 2015 with the world's largest single location solar power project located in Kamuthi, Tamil Nadu (648 MW) has come a long way to be ranked as the number one global solar power generation asset developer by Mercom Capital. As on date, AGEL has over 14.6 GW of contracted <keyword id="4400882" type="PERSON" weightage="20" keywordseo="renewable-capacity">renewable capacity</keyword>, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GW of renewable power generation by 2025. Speaking on the occasion, Adani Group Chairman, Gautam Adani, said, "We are delighted to deepen our strategic alliance with Total, a global energy major, and welcome them as a significant shareholder in <keyword id="4543956" type="COMPANY" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword>. We have a shared vision of developing renewable power at affordable prices to enable a sustainable energy transformation in India. We look forward to working together towards delivering India's vision for 450 GW renewable energy by 2030." Speaking on the occasion, Total CEO, Patrick Pouyanne, said, "This agreement is an important step in our alliance with the Adani Group in India and our common vision and goals with respect to the importance of access to low carbon energy in India. Our entry into AGEL is a major milestone in our strategy in the renewable energy business in India put in place by both parties, which began with our first joint venture 2.3GW of renewable capacity. Given the size of the market, India is the right place to put into action/to deploy our energy transition strategy based on two pillars: renewables and natural gas." The Adani Promoter Group was represented by Clifford Chance and Cyril Amarchand Mangaldas. Total was represented by Latham &amp; Watkins and AZB Partners. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a>

You Searched For "Green energy" and got 10 results

Cabinet approves ₹12,000 crore for second phase of green energy corridor

PTI

Adani Green Energy raises $750 million, aims to become world's largest renewable energy company by 2030

IANS

Adani green energy projects worth Rs 15,740 cr cleared by AP Govt.

IANS

Adani Green Energy stock has jumped 45% this year to become more valuable than L&T, Maruti Suzuki, and Axis Bank

Bhakti Makwana

Adani Green Energy gets certification from DNV for water conservation

PTI

Green Energy Could Crash The U.S. Power Grid

Dina Spector

Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses

PTI

NTPC Green Energy shares debut with over 3% premium

PTI

Government Green Energy Laws Are Having Some Ruinous Environmental Consequences In The Heartland

Chet Brokaw, AP

French energy major Total proposes to acquire 20% stake in Adani Green Energy

IANS

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