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<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> plans to invest about Rs 1.3 lakh crore across its portfolio companies in this financial year, as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, the group's CFO said. The investment will range from ports to energy, airports, commodities, cement and media. 70% of this will met through internal cash generation and the remaining will be taken care through debt, group CFO Jugeshinder 'Robbie' Singh noted. The group will look to refinance $3-4 billion of debt maturing in the year and raise an additional $1 billion in project financing, he said, adding the annual $2-2.5 billion of equity infusion by bringing in new investors is also likely to continue. "This year will be more about asset completion," the CFO continued. <keyword id="34553" type="General" weightage="20" keywordseo="Renewable-energy" source="Orion">Renewable energy</keyword> firm <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword> Green will complete 6-7 GW project, while the solar wafer manufacturing unit will also attain scale. Also, the new airport at Mumbai will be completed. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40% higher than what the portfolio is estimated to have incurred in FY24. The group had previously guided a $100 billion capex over the next 7-10 years. Most of this investment is going to go into the group's fast growing businesses -- renewable energy, <keyword id="8411893" type="General" weightage="20" keywordseo="green-hydrogen" source="Orion">green hydrogen</keyword> and airports and infrastructure. As much as 70% of the planned capex will go into its green portfolio - primarily <keyword id="19904987" type="General" weightage="20" keywordseo="renewable-power" source="keywords">renewable power</keyword>, green hydrogen, green evacuation. Of the remaining 30%, the majority will be spent towards airports and ports businesses. Adani group companies posted a record 45% rise in pre-tax profit (Ebitda) to Rs 82,917 crore (about $10 billion) in FY24, Singh said. Emerging from a damning report of a US short seller <keyword id="191733" type="General" weightage="20" keywordseo="Hindenburg" source="Orion">Hindenburg</keyword>, which hit the market value of its listed companies, Adani group in 2023-24 focused on containing debt, reducing founder share pledge and consolidating the business in core competencies. The five-year CAGR (compound annual growth rate) for profit growth was 54% A school drop-out, group chairman <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> started out as a commodities trader and rose to be counted amongst world's richest with an empire spanning across ports, power generation, airports, mining, renewables, gas, data centres, media and cement. Today, Adani group is the world's second largest solar power company, it is the largest airport operator with 25% of passenger traffic and 40% of air cargo, the largest ports and logistics company with 30% market share, largest integrated energy player, and the country's second largest cement manufacturer. With strong emphasis on <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> transition, it will be allocating more than 70% of this $100 billion to its green businesses including renewable power, green hydrogen, and green evacuation transmission lines. The conglomerate is building the world's largest renewable park at Khavda, Gujarat, spanning over 530 square kilometers, which is about five times the size of the city of Paris. A large portion of total investments is earmarked for expansion and development of its fast-growing airports business and ports business. With a portfolio boasting eight airports including the upcoming <keyword id="57321" type="General" weightage="20" keywordseo="navi-mumbai" source="Orion">Navi Mumbai</keyword> airport and 14 domestic ports, Adani wants to further solidify its presence in these sectors.

Adani to invest Rs 1.3 lakh crore in FY25 across its companies

Climate Action 15: 2024's top global innovators powering green solutions

<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> released the composite result and Credit Compendium of Adani Group of <keyword id="20027214" type="General" weightage="20" keywordseo="companies" source="keywords">companies</keyword> for Q1 FY25. The Results Compendium provides a comprehensive overview of the <keyword id="20088085" type="General" weightage="20" keywordseo="financial-performance" source="keywords">financial performance</keyword> of the Adani Portfolio, while the Credit Compendium offers in-depth insights into the portfolio's robust credit strength. According to the results, the strong performance for the quarter was led by <keyword id="20113873" type="General" weightage="20" keywordseo="Adani-Enterprises" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Enterprises" meta.hostid="261" meta.entityid="Adani Enterprises">Adani Enterprises</keyword>' emerging businesses, including solar and wind manufacturing. In a press release, the company stated that it has emerged as India's largest player in the fully integrated <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> chain, as well as in the airports and roads sectors. The company added that AEL's infrastructure businesses' steadily rising contribution is playing a significant role in this growth, with <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> expanding by 69.98 per cent YoY. These fast-growing businesses now contribute 13.3 per cent to the portfolio-level EBITDA, up from 7.2 per cent a year ago. The overall EBITDA of Adani Group companies surged by 32.87 per cent year-on-year (YoY) to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year. The Adani Group highlighted that its 'Core Infrastructure' platform comprises AEL's (Adani Enterprises) Infrastructure businesses, Utility (Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas), and Transport (Adani Ports &amp; SEZ) businesses. The Solar module manufacturing business of the group saw module sales rise by 125 per cent YoY in the quarter. Furthermore, the operationalization of photovoltaic cell lines lowered costs, resulting in higher profitability. The airport business also continues to see strong growth from rising passenger movement, increasing consumer offerings, and the addition of routes, airlines, and flights across seven operational airports. Adani Enterprises' performance indicates that in airports, the annual passenger movement across 7 airports crossed 90 million for the first time. During the quarter, eight new routes, six new airlines, and 13 new flights were added across all seven airports. Additionally, 25 new brands were introduced at Lucknow airport after the inauguration of Terminal 3. The road business achieved its highest-ever 730 lane-km construction during this quarter. In the Adani Green Energy segment, construction work for a 500 MW hydro pump storage has commenced, with a 31 per cent YoY capacity addition during the quarter. Another 250 MW wind capacity was operationalized in July at Khavda, bringing the total capacity to 11.2 GW. Adani Energy Solutions stated that the Khavda-Bhuj Transmission Line (KBTL) is fully commissioned, enabling 3 GW green power evacuation from Khavda. The 1,765 ckm Warora Kurnool Transmission Line (WKTL) was also fully commissioned, strengthening the national grid by ensuring seamless power flow between the western and southern regions. Adani Ports &amp; SEZ reported that Vizhinjam port, India's first transhipment port equipped with South Asia's most advanced container-handling technology, was formally commissioned in July and will become operational in November. In the Cements segment, the promoters infused Rs 15,000 crore in two tranches in Ambuja Cements in March and April, fully subscribing to the warrant program and infusing a total of Rs 20,000 crore since the acquisition in September 2022. The company also acquired Penna Cement, increasing the total capacity to 89 MTPA. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

EBITDA of Adani Group companies surged by 32.87% year-on-year to ₹22,570 crore

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

New Delhi, India's top oil firm IOC on Monday unveiled the nation's first <keyword id="18906554" type="General" weightage="20" keywordseo="green-hydrogen-powered-bus" source="Orion">green hydrogen-powered bus</keyword> that emits just water as it takes the lead in bringing out unrivaled tools to replace fossil fuels. Indian Oil Corporation (IOC) will produce close to 75 kg of hydrogen by splitting water using electricity from renewable sources. This hydrogen will be used to power two buses which will ply across the national capital region for trial runs. Oil Minister Hardeep Singh Puri, flagging off the buses, said hydrogen will be India's transition fuel for moving away from fossil fuels. IOC's R&amp;D Centre at Faridabad is producing green hydrogen for the pilot run. Four cylinders with a capacity of 30 kg can run the buses for 350 km. It takes 10-12 minutes for the four tanks to fill. Hydrogen when burnt emits only water vapour as a by-product. With three times the energy density and the absence of harmful emissions, hydrogen shines as a cleaner, more efficient choice to meet the energy requirement. As much as 50 units of renewable electricity and 9 kg of deionized water are needed for the production of one kilo of green hydrogen. Hydrogen can be used as a fuel for fuel cells. Puri said by the end of 2023, IOC will scale up the number of buses to 15. IOC will undertake operational trials of 15 fuel cell buses powered by green hydrogen on the identified routes in Delhi, Haryana, and UP. Under this programme, the first set of 2 fuel cell buses was launched on Monday. "Our government has ambitious plans on clean and green energy. India has taken many steps towards low carbon development- through emerging fuels like hydrogen and bio-fuels and shall account for 25 per cent of global incremental energy demand growth over the next two decades," Puri said. Upon the launch of the two buses, a cumulative mileage of more than 3 lakh kilometers will be covered for long-term assessment of performance and durability of the new technology. India has one of the largest synchronous grids in the world, capable of handling intermittent renewable energy and it has achieved 'One Nation-One Grid-One Frequency'. "With the low cost solar, synchronous grid, large demand and engineering, India will be a global champion in production and exports of hydrogen and is set to emerge as the hub for green hydrogen," he said. Puri said recently the world's first BS 6 (Stage II) Electrified Flex Fuel vehicle prototype was launched that encompasses both the flex fuel engine as well as an electric powertrain that offers higher use of ethanol combined with better fuel efficiencies. Hydrogen is deemed as the fuel for the future with immense potential to help India meet its decarbonization targets. The global demand for hydrogen is expected to increase by four to seven times to 500-800 tonne by 2050. Domestic demand is expected to increase by four times, from the current 6 tonne at present to 25-28 tonne by 2050. Oil and gas PSUs shall produce around 1 million tonne per annum of green hydrogen by 2030. "This green <keyword id="14355451" type="General" weightage="20" keywordseo="hydrogen-powered-bus" source="Orion">hydrogen-powered bus</keyword> is going to transform the face of city transport in the country. I shall be closely monitoring the project and wish you all the very best for successfully executing this project of national importance," he added. "The success of this project can catapult India from being a net importer of fossil energy to becoming a net exporter of clean hydrogen energy; and provide global leadership to other countries in terms of technology transfer while becoming a large green hydrogen producer and supplier of manufacturing parts."

IndianOil unveils India's first green hydrogen-run bus that emits just water

Terming the state budget as "revolutionary," Maharashtra Chief Minister Eknath <keyword id="20040955" type="General" weightage="20" keywordseo="shinde" source="keywords">Shinde</keyword> said that this budget in a true sense empowers women, youth, and farmers through various schemes worth Rs 1 lakh crore. He said that this budget is revolutionary and would make the future of weaker sections, farmers, and youth bright. Stating that the budget was a resolve to give a new direction to Maharashtra, <keyword id="20062947" type="General" weightage="20" keywordseo="CM-Shinde" source="keywords">CM Shinde</keyword> said that this budget has an "unending chant of the <keyword id="22227448" type="General" weightage="20" keywordseo="development-of-Maharashtra" source="keywords">development of Maharashtra</keyword>". Deputy Chief Minister and Finance Minister <keyword id="19941791" type="General" weightage="20" keywordseo="Ajit-Pawar" source="keywords">Ajit Pawar</keyword> on Saturday presented the additional budget for the year 2024-25 in the state assembly. The Finance Minister had presented the interim budget in February. Stating that the budget has important provisions to help women and unemployed youth to stand on their own feet, the Chief Minister said that "Chief Minister Majhi Laadki Baheen scheme, free vocational education to girl students, Chief Minister Annapoorna scheme which gives 3 cylinders per year to eligible families, project worth Rs 15 thousand crores for providing free electricity to farmers during day time, Chief Minister Baliraja electricity concession scheme which provides free power to farmers using agricultural pumps, training to 50 thousand youth every year to convey government schemes to masses and resolve to remove poverty of the weaker sections of the society have made this budget special." He said that provisions like free education to girl students for engineering, pharmacy, and medical education along with degree and diploma courses along with Rs. 1500 per month to every woman prove that the government has expressed its responsibility towards women of the state. Stating that the budget proves that it stands behind the farmers, Chief Minister Shinde said that the issue of food-grain storage would be resolved through schemes like Godown per village. He said that the lives of farmers would be transformed through various provisions in the budget which include financial assistance to cotton and soybean growers, special campaigns to complete irrigation projects, and solar pumps on demand. Pointing out that the decision to celebrate the coronation of <keyword id="19966480" type="General" weightage="20" keywordseo="Chhatrapati-Shivaji-Maharaj" source="keywords">Chhatrapati Shivaji Maharaj</keyword> through a ceremony every year at Fort Raigad is important, the Chief Minister said that other decisions include recommending the annual Pandharpur pilgrimage for the UNESCO World Heritage along with the rock sculptures in Konkan, Dahi Handi celebration are efforts towards the preservation of history and culture of the state. He said that the budget provides Rs 20,000 to every Dindi (the troops participating in the annual Pandharpur pilgrimage) and it has made the announcement of making arrangements for medical treatment of pilgrims through the Chief minister's medical relief cell and provision for Nirmal Waari show commitment towards the annual pilgrim and Warkari sect. He said that a separate Warkari Mahamandal or separate Corporation for the annual pilgrims would be set up. Stating that massive investment would be made in priority sectors and the <keyword id="21313056" type="General" weightage="20" keywordseo="green-hydrogen-sector" source="keywords">green hydrogen sector</keyword>, he said that it would generate employment in a big way. He said that the chief minister's youth training scheme would impart training to ten lakh youngsters every year and a centre of excellence would be established in ITI's which would benefit the youngsters. Stating that the Sanjay Gandhi Niradhar scheme and Shrawan Bal seva state pension scheme assistance would be raised are strong steps CM Shinde said that providing for housing of various sections of society, Anand Dighe housing scheme for differently abled amply proves that the state government is taking strong steps towards removing the poverty in the state. The chief minister said that Metro routes worth 449 Kms in Mumbai, Pune, and Nagpur along with 23 thousand kilometer road stretch works under Chief Minister Gram Sadak scheme, construction of buildings of village Panchayats under Balasaheb Thackeray memorial Matoshree Gram Panchayat scheme, PM e-bus scheme in municipal corporation areas and other infrastructure works would be undertaken in a big way which would result in speedy development of the state. The monsoon session of the Maharashtra Assembly began on Thursday (June 28) and will go on till July 12. This is the last legislative session before the state assembly polls, in the next four months.

Budget resolves to give new direction to Maharashtra: CM Shinde

<ul><li><keyword id="20058929" type="General" weightage="100" keywordseo="Indian-Energy-Exchange" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Energy Exchange" meta.hostid="261" meta.entityid="Indian Energy Exchange">Indian Energy Exchange</keyword> recorded a 24% year-on-year growth in monthly volume in September 2024.</li><li>The electricity volume, including <keyword id="22675612" type="General" weightage="20" keywordseo="green-electricity" source="keywords">green electricity</keyword>, reached 10,332 MU.</li><li>India's <keyword id="20028292" type="General" weightage="20" keywordseo="energy-consumption" source="keywords">energy consumption</keyword> remained relatively stable at 141.3 billion units (BUs) in September 2024.</li></ul>Indian Energy Exchange (IEX), India's leading electricity exchange, experienced significant growth in September 2024 with a record monthly volume of 11,370 MU, representing a 24% year-on-year (YoY) growth. Electricity volume, including green electricity, reached 10,332 MU, reflecting a 21% YoY increase, while <keyword id="21681994" type="General" weightage="20" keywordseo="renewable-energy-certificates" source="keywords">renewable energy certificates</keyword> (RECs) doubled to 1,031 MU compared to the same period last year. The REC market witnessed a historic low price of ₹110 per certificate during a trading session, offering a favourable opportunity for obligated entities to meet their renewable purchase obligations and for voluntary customers to achieve sustainability goals. India's energy consumption remained relatively stable at 141.3 billion units (BUs) in September 2024, according to government data. A steady monsoon boosted hydro and wind power generation, leading to reduced prices in the Day-Ahead Market (DAM) and Real-Time Market (RTM). The Day-Ahead Market (DAM) witnessed robust growth, with volumes increasing 33% YoY to 4,610 MU in September 2024. Over the quarter, DAM registered 14,332 MU, a 27% increase compared to Q2FY24. Real-Time <keyword id="22699214" type="General" weightage="20" keywordseo="electricity-market" source="keywords">Electricity Market</keyword> (RTM) achieved its highest-ever monthly volume of 3,913 MU, a 34% YoY rise. RTM's quarterly volume reached 10,732 MU, up 31% YoY. In contrast, the Day-Ahead Contingency and Term-Ahead Market (TAM) experienced a decline, trading 1,086 MU in September 2024 and 2,684 MU during Q2FY25, down by 43% and 42% YoY, respectively. IEX's Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), recorded an extraordinary 214% YoY increase, trading 723 MU in September 2024. The quarterly total for the Green Market stood at 2,584 MU, a massive 246% YoY growth. The REC market achieved a milestone with 1,031 MU traded in September 2024, a 100% YoY increase. The clearing prices for the two trading sessions on 11th and 25th September were ₹112/REC and ₹110/REC, respectively, the lowest-ever price since the market's inception. The quarterly total volume reached 6,297 MU, a remarkable 353% YoY growth. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a>

Indian Energy Exchange records 24% growth in September 2024

<ul class="summary-list"><li>Hydrogen has the potential to be a climate solution, but right now it's a dirty business.</li><li>The White House is spending $7 billion to spur "clean" hydrogen.</li><li>Some climate advocates, scientists worry that fossil-fuel companies will cash in. </li></ul>Most of us probably think of hydrogen in terms of H2O — the water we drink, bathe in, and cook with — but it has the potential to help build a low-carbon future.President Joe Biden <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/10/13/biden-harris-administration-announces-regional-clean-hydrogen-hubs-to-drive-clean-manufacturing-and-jobs/">is pouring up to $7 billion</a> into seven hydrogen hubs in regions including the Gulf Coast, Pacific Northwest, and Appalachia. The goal is to spur the production of "clean" hydrogen, because the way it's currently produced is a dirty business.Most hydrogen is separated from methane in natural gas through an energy-intensive process that produces greenhouse-gas emissions responsible for warming the planet. Hydrogen is mainly used to refine oil and make chemical fertilizers, but experts say it can also be used for energy storage and as a fuel for long-haul trucks and airplanes. If the production process is cleaned up, it could help decarbonize industries that use hydrogen.But as with so many climate solutions, there's a debate over the best path forward. It boils down to this: Should hydrogen continue to be made from natural gas but paired with carbon-capture technology and storage? This is so-called "blue" hydrogen. Or should it be made from a renewable-energy powered process known as electrolysis, which splits water into hydrogen and oxygen? This is known as "green" hydrogen — an approach favored by many climate advocates. Both are still in the early stages of development.The White House said about two-thirds of the overall investment in hydrogen hubs will be associated with the green kind. That still didn't land well with some climate advocates and scientists, who <a target="_blank" href="https://onlinelibrary.wiley.com/doi/full/10.1002/ese3.956">cite research suggesting that blue hydrogen</a> isn't clean at all."I think it's a scam," Robert Howarth, a professor of ecology and environmental biology at Cornell University, told Insider. "I don't use that word lightly."Howarth found <a target="_blank" href="https://onlinelibrary.wiley.com/doi/full/10.1002/ese3.956">that blue hydrogen requires more natural gas,</a> and therefore produces more methane emissions. That's concerning because methane heats up the planet 80 times faster than carbon dioxide over a two-decade period, he said."It takes a lot of energy to capture the carbon dioxide, and that comes from burning even more natural gas," Howarth said. "So it's not a surprise to me that the oil and gas industry likes the idea of blue hydrogen."The Clean Air Task Force, an environmental nonprofit that's working with the US Department of Energy, hydrogen-hub project developers, and community-based groups, told Insider that they also support the White House's approach.Anna Menke, the task force's senior hydrogen-hubs manager, said she wants the debate to move away from green versus blue hydrogen because each technology has its pros and cons.Green hydrogen is more expensive and could lead to more emissions <a target="_blank" href="https://iopscience.iop.org/article/10.1088/1748-9326/acacb5">than its conventional version</a> if electrolyzers aren't powered by additional renewable energy on the grid, Menke said. She acknowledged that for blue hydrogen to truly be a climate solution, oil and gas companies must reduce methane leaks in their infrastructures and develop carbon-capture systems that trap a lot of emissions and store them permanently, <a target="_blank" href="https://pubs.rsc.org/en/content/articlelanding/2022/se/d1se01508g">according to US and European researchers</a>.Hydrogen hub projects that applied for federal funding had to meet a range of criteria, including low emissions targets, Brian Korgel, director of the Energy Institute at the University of Texas at Austin, told Insider. Korgel is working on the <a target="_blank" href="https://www.hyvelocityhub.com/">HyVelocity Hub along the Gulf Coast</a>, which was awarded $1.2 billion by the Biden administration and is led by companies including Chevron, ExxonMobil, and Sempra Infrastructure.The project aims to demonstrate that both blue and green hydrogen can be made with low emissions at a competitive cost, while creating jobs and other benefits for disadvantaged communities. Korgel's team at the Energy Institute is conducting environmental and economic analyses of the project."There's some safeguards," Korgel said. "These projects have to meet emissions standards, and it's not in companies' benefit to do the smoke and mirrors thing because they won't get the grant money, which ratchets up over time."Korgel noted that the federal definition of "clean" hydrogen has been evolving, but should be more clear soon.An unlikely government agency could settle the debate. The Internal Revenue Service has to decide what "clean" hydrogen is eligible for a tax credit worth up to an estimated $100 billion over its lifetime.

Can hydrogen be green? The debate heats up as the White House pours $7 billion into hydrogen hubs

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

<ul class="summary-list"><li>Japan Airlines is looking at the feasibility of hydrogen-electric aircraft via three new partnerships.</li><li>The use of hydrogen over kerosene would decrease aircraft CO2 emissions but limit range and capacity.</li><li>According to the World Bank, more than 98% of the world's hydrogen is made using natural gas or coal.</li></ul>One of Asia's largest airlines is placing big bets on hydrogen.In mid-November, Japan Airlines announced a series of deals with global manufacturers of hydrogen-electric aircraft and engines to explore the feasibility of flying emissions-free passenger planes.These forward-thinking manufacturers are big names in the hydrogen industry and include Germany's H2Fly, California's Universal Hydrogen, and the British-American company ZeroAvia. All three have successfully <a target="_blank" href="https://www.businessinsider.com/power-players-aviation-sustainability-electric-hydrogen-flight-2022-5">flown hydrogen-powered aircraft</a> this year.The technology uses a hydrogen fuel cell to generate electricity and run electric motors, or hydrogen can be combusted to power engines.In either case, existing jet engines could be converted to work on hydrogen fuel, and the flights would be carbon-free so long as <a target="_blank" href="https://www.businessinsider.com/hydrogen-energy-help-climate-crisis-but-still-hurdles-2023-10">"green" hydrogen</a> was used, or hydrogen made using renewable energy.An August study from the <a target="_blank" href="https://theicct.org/publication/fuel-cell-retrofit-aug23/">International Council on Clean Transportation</a>, a US nonprofit think tank, found hydrogen fuel cells using green liquid hydrogen could reduce greenhouse-gas emissions by 88%.<h2>A growing market</h2>With hydrogen proving a popular solution and world governments <a target="_blank" href="https://www.businessinsider.com/aviation-industry-net-zero-by-2050-disagree-decarbonization-2023-12">committing to net-zero emissions by 2050</a>, Japan Airlines' new partners are all racing to capitalize on the growing hydrogen market.In March, Universal Hydrogen flew the world's first hydrogen-powered regional airliner — an ATR 72 turboprop nicknamed Lightning McClean, which operated on hydrogen in only one engine for safety reasons.<div type="image" title="First UH liquid hydrogen flight on ATR 72." height="1706" width="2560" msid="106192276" hostid="261" sizebytes="127162"></div>The success is part of the company's development of ATR 72 <a target="_blank" href="https://www.businessinsider.com/startups-hydrogen-aircraft-market-aviation-aerodelft-joby-climate-carbon">conversion kits</a>, for which it has secured 250 orders. The kits would allow operators to fit existing kerosene-burning aircraft engines with hydrogen-fuel-cell powertrains.ZeroAvia, a competitor, is pursuing a similar venture with the hydrogen-electric engine it's building for passenger aircraft, describing hydrogen fuel as the "only viable, scalable solution for zero-emission aviation."<a target="_blank" href="https://www.businessinsider.com/zeroavia-wins-amazon-shell-funding-transform-aviation-industry-hydrogen-2021-2">With backing from Bill Gates, Amazon, and Shell</a>, ZeroAvia hopes to create powertrains capable of powering planes with anywhere from nine to over 200 people on board by 2040.<div type="image" title="ZeroAvia's world's first hydrogen-electric passenger plane flight" height="1667" width="2500" msid="106192277" hostid="261" sizebytes="148232"></div>The company <a target="_blank" href="https://www.businessinsider.com/worlds-first-hydrogen-fuel-cell-powered-passenger-aircraft-flight-2020-10#however-this-hydrogen-electric-flight-isnt-the-projects-only-flight-to-have-taken-place-so-far-2">operated its first hydrogen-electric flight</a> in January using a 19-seater turboprop.Meanwhile, H2Fly operated the world's first piloted liquid-hydrogen flight in September using its four-seater HY4 demonstrator aircraft. The company said it's looking to size up to regional airliners soon.Other plane makers, such as <a target="_blank" href="https://www.businessinsider.com/see-a380-demonstrator-jet-that-will-test-hydrogen-powered-engines-2022-2">Airbus and Embraer, are also building hydrogen-powered aircraft</a> as part of their decarbonization efforts.<h2>Hydrogen powertrains are not strong enough yet to power large airliners</h2><div type="image" title="H2FLY's H2Y hydrogen plane flying." height="683" width="1024" msid="106192278" hostid="261" sizebytes="46660"></div>For now, the small prop planes are likely to remain the popular option for hydrogen-powered engines because the current technology is not strong enough to power the medium and large airliners that make up most of the world's passenger jets, according to the International Council on Clean Transportation.This is likely not an issue for Japan Airlines, though, as its new partnerships are directed at deploying hydrogen aircraft on short, regional routes around Japan."JAL group already operates 50 regional aircraft which will be relevant to hydrogen-electric propulsion technology in the foreseeable future," James Peck, ZeroAvia's chief customer officer, said in a press release.The airline's regional connector, Japan Air Commuter, already operates a small fleet of ATR 72 planes, so its investment in Universal Hydrogen could prove lucrative thanks to its conversion kits for the turboprop.There's a downside to using hydrogen on these tinier planes, though.Because hydrogen is light and requires a lot of storage space because of the immense volume needed compared with kerosene, these smaller aircraft sacrifice range and payload capacity — meaning they could become a cost burden for operators.But the range issue could be remedied with the use of liquid hydrogen over gaseous hydrogen, as shown by H2Fly's recent flight. According to the company, its September H2Y flight soared 932 miles using liquid hydrogen but only 466 miles using gaseous hydrogen."In the years to come, battery-electric and hydrogen-electric propulsion systems will enable us to build aircraft that are quieter and make mid- to long-range air travel possible with zero emissions," Universal Hydrogen said.<h2>The debate between 'green' and 'blue' hydrogen</h2><div type="image" title="Hydrogen renewable energy production pipeline - hydrogen gas for clean electricity solar and windturbine facility." height="3359" width="5015" msid="106192279" hostid="261" sizebytes="738898"></div>In addition to range and capacity problems, <a target="_blank" href="https://www.businessinsider.com/what-is-hydrogen-fuel-industry-explainer-2020-1">hydrogen engines</a> have faced pushback from environmental advocates who worry that hydrogen production will further the fossil-fuel crisis.In October, the Biden administration announced $7 billion in funding to create "clean" hydrogen hubs, two-thirds of which were planned to be dedicated to producing green hydrogen via electrolysis — the process of splitting water into hydrogen and water.This, however, leaves room for what's known as "blue" hydrogen, created from a combination of natural gas and <a target="_blank" href="https://www.businessinsider.com/us-first-commercial-carbon-capture-facility-opens-2023-11">carbon capture and storage</a>.The process is considered carbon-neutral, but environmentalists say the <a target="_blank" href="https://www.businessinsider.com/what-is-hydrogen-fuel-industry-explainer-2020-1">burning of natural gas</a> inherently means excess methane emissions — which is a much more potent greenhouse gas compared with CO2, though it doesn't sit in the atmosphere as long.According to the <a target="_blank" href="https://blogs.worldbank.org/energy/unleashing-power-hydrogen-clean-energy-transition">World Bank</a>, more than 98% of the world's hydrogen is made via natural gas or coal — meaning just a small portion is truly zero-emissions green hydrogen. "Gray" hydrogen — the same as blue minus the carbon capture — is the most abundant."It takes a lot of energy to capture the carbon dioxide, and that comes from burning even more natural gas," Robert Howarth, a professor of ecology and environmental biology at Cornell University, told Business Insider's Catherine Boudreau in October. "So it's not a surprise to me that the oil and gas industry likes the idea of blue hydrogen."However, Brian Korgel, the director of the Energy Institute at the University of Texas at Austin, told BI that the companies vying for hydrogen-hub funding had to meet strict criteria."There's some safeguards," Korgel said. "These projects have to meet emissions standards, and it's not in companies' benefit to do the smoke-and-mirrors thing because they won't get the grant money, which ratchets up over time."

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