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<ul><li>Apollo Green Energy is expected to announce its initial public offering (IPO) in 2025.</li><li>The company, a part of the Apollo International Group aims to build a <keyword id="23806914" type="General" weightage="20" keywordseo="10000-crore-project-portfolio" source="keywords">₹10,000 crore project portfolio</keyword>.</li><li>The company currently has an order book of ₹3,500 crore.</li></ul>Apollo Green Energy Ltd (AGEL), part of Apollo International Group, on Tuesday said it is preparing for a public listing next year to support its expansion plans and secure new projects. Also, the company is set to build a ₹10,000-crore project portfolio by 2025. "With over 200 professionals and an order book of ₹3,500 crore, we are focused on delivering projects that meet the nation's energy needs and promote sustainability. Our upcoming IPO in 2025 will further strengthen our financial base, enabling us to scale our operations and invest in cutting-edge renewable technologies," said Sanjay Gupta, CEO, Apollo Green Energy. AGEL is a leading Engineering, Procurement, and Construction (EPC) company specializing in renewable energy, providing a range of solutions that includes utility-scale solar, energy storage systems, green hydrogen initiatives, and hybrid power. Operating in eight states, the company manages a diverse portfolio of projects, including 400 MW of solar installations. The company has been involved in the execution of Flue Gas Desulfurization (FGD) systems to reduce sulfur dioxide emissions, a major contributor to pollution, in power generation. This project, valued at approximately Rs 700 crore, is nearing completion. "Currently, we are executing a large utility-scale solar project which requires different technical expertise, like we are doing 40 MW solar fixed tilt in Odisha, 50 MW floating solar project (first of its kind)in Kerala and 200 MW solar with tracker technology in Gujarat. "We are also executing a 1,50,000 smart solar street lights project in Bihar. Going forward, AGEL will also expand its footprint in wind, hybrid, green Hydrogen and battery storage solutions." Gupta added. AGEL aims to play a crucial role in supporting India's clean energy goals. By focusing on solar, green hydrogen, and hydro energy projects, the company not only supports the nation's energy transition but also delivers long-term value for stakeholders, the company said. With revenue growth from Rs 324.83 crore in FY22 to Rs 1,174.77 crore in FY24, AGEL is poised to sustain this momentum through FY25, underscoring its commitment to operational efficiency. In addition, AGEL is also forming strategic partnerships with technology providers and exploring options to produce its own solar modules. These moves will help the company expand its capabilities in renewable energy and keep projects cost-effective, all while contributing to India's vision for a cleaner energy future. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms">Realme GT 7 Pro with Snapdragon 8 Elite, 6,500mAh battery to launch in India on November 26</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a> <a href="https://www.businessinsider.in/business/auto/news/october-auto-sales-maruti-suzuki-and-tata-motors-report-a-decline-mahindra-continues-to-grow/articleshow/114931927.cms">October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow</a>

Apollo Green Energy to go public next year – aims to build ₹10,000 crore project portfolio

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

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

<keyword id="4625572" type="General" weightage="20" keywordseo="indian-renewable-energy-development-agency" source="Orion">Indian Renewable Energy Development Agency</keyword> Ltd (<keyword id="391336" type="General" weightage="100" keywordseo="ireda" source="Orion">IREDA</keyword>) has opened an office in <keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword> at Gandhinagar which will specialise in providing debt options denominated in <keyword id="90766" type="General" weightage="20" keywordseo="foreign-currencies" source="Orion">foreign currencies</keyword> to facilitate natural hedging and significantly reduce the financing costs for green hydrogen and renewable energy manufacturing projects, the Ministry of New and Renewable Energy said on Thursday. The strategic initiative which would contribute to the country's journey towards a greener future was highlighted by IREDA chairman and managing director (CMD) Pradip Kumar Das at a panel discussion on 'Future Growth Opportunities for Long Duration <keyword id="1609428" type="General" weightage="20" keywordseo="energy-storage" source="Orion">Energy Storage</keyword>', held at the World Future Energy Summit 2024 in Abu Dhabi on Wednesday. The IREDA CMD emphasised the critical role that energy storage will play in achieving the <keyword id="13194051" type="General" weightage="20" keywordseo="national-green-hydrogen" source="Orion">National Green Hydrogen</keyword> Mission's ambitious target of producing over 5 million metric tons of hydrogen per annum by 2030. The CMD emphasised the need to enhance research and development efforts to reduce cost and improve the performance of energy storage solutions. It was necessary to implement policies that strengthen the supply chain network, and providing competitive and tailored financial solutions will encourage investment in energy storage projects, he added. India has taken active steps in this direction, which include the formulation of a storage requirement roadmap up to 2047, technology-agnostic storage tenders, and supportive government interventions for battery manufacturing and pumped storage hydropower projects. The Central Electricity Authority of India projects a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs 3.5 lakh crore.

IREDA's GIFT City branch to give special foreign currency loans for green projects

On Monday, July 22, Finance Minister <keyword id="22504403" type="General" weightage="20" keywordseo="nirmal-sitharaman" source="keywords">Nirmal Sitharaman</keyword> tabled the <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-24 in the parliament ahead of the much-awaited budget 2024 tomorrow. In addition to a socio-economic stock take, the comprehensive report also outlines the strides India has made on the environment and climate fronts last year. India is in a weird grey area when the climate blame-game is concerned. We continue to average some of the lowest per capita CO2 emissions in the world. But, being the most-populous country in the world, these small bits add up to make India the third-largest emitter of CO2 in the world, after China and the United States. <div type="Article" hostid="261" msid="111923746" title="Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development" mstype="2" mssubtype="0"></div>However, this is not to say that the country has been sitting the green transition out either. As highlighted in the Economic Survey, India has been making notable strides in tackling climate change and promoting <keyword id="19895783" type="General" weightage="20" keywordseo="sustainability" source="keywords">sustainability</keyword> — efforts that will be crucial to protect billions in the coming years and decades. Let's take a look at these efforts and compare them with findings from other recent environmental reports to see the full picture. <h2><keyword id="21818512" type="General" weightage="20" keywordseo="emission-intensity" source="keywords">Emission intensity</keyword> reduction</h2>The economic survey proudly states that India has reduced the emission intensity of its GDP by 33% from 2005 levels by 2019. This means the country is producing less greenhouse gas for every unit of economic activity. This is a commendable achievement because India’s original climate change target — or Nationally Determined Contribution — was set to precisely 33% reduction of emission intensity by 2030, before being revised to 45% in 2022. While the jump from 33% to 45% is still a significant one with barely half a decade to go, this progress is a clear sign that India’s climate policies are having a real impact. <h2><keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">Renewable energy</keyword> capacity</h2>According to the economic survey, 45.4% of India’s installed electricity generation capacity — which includes solar, wind, and hydropower — now comes from non-fossil sources, as of May 31, 2024. <div type="Article" hostid="261" msid="111774972" title="Economic Survey shows India&amp;#39;s energy needs to grow 2.5x, healthy growth in formal employment" mstype="2" mssubtype="0"></div>As per reports by the Ministry of New &amp; Renewable Energy, India added a record renewable energy capacity of 18.48 GW in 2023-2024, with solar installations amounting to 12.78 GW, followed by 2.27 GW of wind energy. However, industry experts have also noted that India Inc. cannot afford to run out of steam now, and must continue to add at least 50 GW for the next six years to meet the target of 500 GW of renewables by 2030. <h2>Indian energy needs</h2>India's energy needs are expected to grow 2 to 2.5 times by 2047, as per the latest economic survey. This necessitates a balanced approach to <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword> that considers resource limitations and the need for resilience to climate change. India has suffered from an overdependence on coal and fossil fuels in the past, accounting for around 75% of total energy generation in 2021, as per the Energy Information Administration. However, this number has been quickly falling, even dropping below a historic 50% in Q1 2024. <h2>Sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword></h2>To fund green projects, India issued Rs 16,000 Crore in sovereign green bonds — financial instruments that support green projects at lower capital costs — in early 2023 and another Rs 20,000 Crore later in the year, the economic survey reports. As per the government, these proceeds were utilised in many eco-friendly projects, such as New and Renewable Energy, Environment, Forests and Climate Change, Housing and Urban Affairs, Railways. To widen the investor base, the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) also recently permitted eligible foreign investors to invest in such bonds. <h2>Mission LiFE and Green Credit Programme</h2>The survey also talks extensively about Mission LiFE (Lifestyle for Environment), which promotes sustainable living, and the Green Credit Programme (GCP), which incentivises eco-friendly actions by offering “green credits”. In the past few months, Madhya Pradesh, Telangana and a few other states have reportedly approved thousands of hectares of degraded forest land for greening exercises as part of the GCP. <h2>International initiatives</h2>India has spearheaded several international initiatives such as the International Solar Alliance (ISA), One World, One Sun, One Grid (OSOWOG), the Coalition for Disaster Resilient Infrastructure (CDRI), the Infrastructure for Resilient Island States’ (IRIS) and the Leadership Group for Industry Transition (LeadIT). Hundreds of nations are signed up for these climate coalitions and our participation will help reflect India's commitment to advancing global <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword> and fostering international cooperation in sustainable development. <div type="Article" hostid="261" msid="111923191" title="Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%" mstype="2" mssubtype="0"></div>The report even notes that India is currently the only G20 nation who is set not to cross the 2°C warming threshold. All in all, India’s economic survey and environmental reports together show a nation making impressive progress in combating climate change and advancing sustainability. These achievements will hopefully set a strong example for other countries to follow.

On the right track — Economic Survey 2023-24 outlines India’s commendable climate action

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

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

<ul class="summary-list"><li>Former President Donald Trump is trying to distance himself from the Heritage Foundation's Project 2025.</li><li>Project 2025 is a map for ultra-conservative activists to enshrine their agenda should Trump win.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-key-cases-civil-criminal-investigations-lawsuits-updates-2022-7">Former President Donald Trump</a> is attempting to distance himself from <a target="_blank" href="https://www.businessinsider.com/what-is-project-2025-conservative-political-playbook-heritage-foundation-trump-2024-7">Project 2025</a>, a political road map created by The Heritage Foundation that lays out steps Republican activists can take during the next presidency to enshrine extreme conservative policies into law and, critics argue, erode the US government's checks and balances.But while Trump's ties to the project are deeper than he admits, some experts on <a target="_blank" class="" href="https://www.businessinsider.com/political-targets-swatting-increasing-anti-government-terrorism-authoritarianism-trump-expert-2024-1">political extremism</a> and pro-democracy activists say one real cause for concern is how the ideology behind the playbook can — and is — moving ahead with or without him.The architects of the plan will continue to try to push forward its policy goals through the courts and Congress no matter who is elected — and even without Trump's complete endorsement, issues central to the playbook are already incorporated into his platform.<h2 id="147abea3-2bfc-4845-bff1-9017335a21e6">What does Project 2025 say?</h2>Among the four pillars of Project 2025 is an over <a target="_blank" class="" href="https://www.project2025.org/playbook/">900-page playbook</a> for <a target="_blank" class="" href="https://www.businessinsider.com/trump-gop-convention-republican-party-future-takeover-maga-2024-7">conservative activists</a> to follow in the first 180 days of the next Republican administration to "bring quick relief to Americans suffering from the Left's devastating policies."The plan includes a wish list of right-wing ideological outcomes, including banning pornography and imprisoning its creators, mass deportations, a ban on <a target="_blank" class="" href="https://www.businessinsider.com/the-abortion-pill-what-to-know-about-self-managed-abortions-2020-11">abortion medications</a>, firings in the federal branch and cutting some federal agencies outright to "deconstruct the administrative state," and generally pursuing policies to promote "marriage, work, motherhood, fatherhood, and nuclear families."It would also enable an inclined president to take total control of the Justice Department to weaponize it against their enemies, slash climate protections, and <a target="_blank" class="" href="https://www.businessinsider.com/trump-could-slash-student-loan-forgiveness-end-save-plan-reelected-2024-7">eliminate the Department of Education</a>, which oversees the public school system, among other initiatives "to bend or break the bureaucracy to the presidential will."Through its website, the project is gathering applications for jobs across each federal agency to pass along to the next Republican administration — from the Department of Agriculture to the Federal Reserve — that can be used as leverage to advance its agenda in the event of a second Trump presidency.Many roles would be immediately ready to be filled with loyal followers, while other jobs would be cut entirely. Historian and authoritarianism expert Ruth Ben-Ghiat, who is critical of both Trump and Project 2025, argued in a recent Substack article that such cuts would result in "more influence for the 'inner sanctum' of sycophants and extremists who, as in regimes everywhere, are the real source of power."<h2 id="22af5a13-66b1-4d88-99ce-35b60ed43378">How Project 2025 'runs on autopilot'</h2>According to some critics, among the unique concerns about Project 2025 is the fact that, while the overall objectives would be easiest to achieve under a conservative administration like Trump's, some of the policy goals laid out in the plan don't require the direct involvement of the presidency at all.Angelo Carusone, president of the nonprofit journalism watchdog Media Matters for America, told Business Insider that, though Project 2025 is focused on action at the federal level, it also lays out specific goals that can be advanced by local and state governments, or ruled upon by <a target="_blank" class="" href="https://www.businessinsider.com/right-wing-evangelicals-brag-about-lobbying-to-influence-scotus-cases-2022-7">sympathetic judges</a>.The Supreme Court, for example, in a series of rulings this term, <a target="_blank" class="" href="https://www.businessinsider.com/supreme-court-rulings-executive-power-grab-strengthen-judiciary-2024-7">eroded the power of the executive branch</a> by rolling back the power of administrative positions in the executive branch while strengthening the presidency itself. The rulings — made by a polarized, conservative-majority court — align with Project 2025 policy goals to deconstruct the administrative state and strengthen the "presidential will."Ben-Ghiat noted in a recent Substack that "it's as though these jurists made their decisions with Project 2025 in one hand and an autocrat's playbook in the other.""And so that's how it sort of runs on autopilot and just moves," Carusone told BI.Some members of Congress have already embraced policies that makeup portions of Project 2025's agenda.Rep. Thomas Massie of Kentucky has repeatedly introduced measures to abolish the Education Department. Rep. Marjorie Taylor Greene of Georgia in 2022 introduced a measure to make it a felony for physicians to provide gender-affirming care to children and prevent federal healthcare facilities from providing such care.Ohio Sen. JD Vance — now Trump's pick for the vice presidential ticket — told Newsweek the project has "some good ideas." He has previously supported abortion bans without exception for rape and incest, and in June voted against a bill that would have cemented access to in vitro fertilization (IVF).With even partial control of the legislative and judicial branches, Carusone noted, even if Trump doesn't win in November, the goals behind Project 2025 can still be pushed forward."So you don't need Trump's thumb on the scale, or even his direction, because it's going to move on its own," Carusone said.<h2 id="e3b0e459-fbed-4704-a008-c47a5a181cab">Trump's close ties to Project 2025</h2>The former president's proposed policies for his hypothetical second term, Agenda 47, include numerous areas of overlap with Project 2025. Among them are the defunding of the Education Department, instructing federal agencies to end programs that promote sex and <a target="_blank" class="" href="https://www.businessinsider.com/im-transgender-have-been-in-military-for-over-a-decade-2024-5">gender transition</a> at any age, and the niche promise to reissue Executive Order 13957, which made federal employees easier to fire.The independent outlet Popular Information first reported that 31 of the 38 people who wrote and edited Project 2025 had been either appointed or nominated to positions in Trump's first administration or his transition team.A CNN review found over 140 Trump administration members had contributed to Project 2025. The Washington Post described The Heritage Foundation as a "revolving door for Trump officials."After The Heritage Foundation created its "Mandate for Leadership" ahead of Trump's first term, the conservative group proudly announced that Trump applied 64% of its policy recommendations in the first two years of his presidency, CBS News reported. The recommendations included leaving the Paris Climate Accords, ramping up military spending, and increasing offshore drilling.In February, Politico reported that <a target="_blank" class="" href="https://www.businessinsider.com/a-nonprofit-is-training-critical-race-theory-activists-2021-9">Russell Vought</a>, a Project 2025 consultant and president of the conservative think tank The Center for Renewing America, included "<a target="_blank" class="" href="https://www.businessinsider.com/christian-nationalism-distorts-american-and-christian-values-group-2022-9">Christian nationalism</a>" as among the top priorities for a second Trump term.Vought, the outlet reported, was the director of the Office of Management and Budget during Trump's first term and is a likely pick for his Chief of Staff if he's elected again.<h2 id="d1058078-5f68-47e9-a258-3c2ea54de14d">What Trump said about Project 2025 — and its leaders about him</h2>"I have no idea who is behind it," Trump wrote July 5 on Truth Social. "I disagree with some of the things they're saying and some of the things they're saying are absolutely ridiculous and abysmal. Anything they do, I wish them luck, but I have nothing to do with them."Danielle Alvarez, a Trump spokesperson, told Business Insider that Agenda 47 and President Trump's RNC Platform are the only policies endorsed by President Trump for a second term, adding that "Team Biden and the DNC are LYING and fear-mongering because they have NOTHING else to offer the American people."Though he denies knowing anything about the project, the playbook mentions Trump's name more than 300 times.Kevin Roberts, the president of <a target="_blank" class="" href="https://www.businessinsider.com/reagan-heritage-foundation-economic-freedom-new-right-desantis-trump-markets-2023-4">The Heritage Foundation</a>, noted in a July 10 episode of "The Vince Coglianese Show" that there's a "tremendous" amount of overlap between Trump's Agenda 47 and Project 2025 — and the standard Republican platform more generally.Roberts said there were "no hard feelings from any of us at Project 2025" about Trump's statement denouncing their agenda, saying "he's making a political tactical decision there" in response to a swath of bad press about the playbook's extreme policies."I think what you're going to see is the beginning of a golden era of conservative reform," Roberts added. "Not just because of President Trump, although he deserves most of the credit, but because the rest of the conservative movement has realized this is the moment if we have the leader and the plan that we're able to begin to undo all of the wreckage of the radical left of the last several decades."

Project 2025 is moving ahead whether Trump is elected or not

<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

India offers huge <keyword id="20009960" type="General" weightage="20" keywordseo="investment-opportunities" source="keywords">investment opportunities</keyword> worth over <keyword id="20120060" type="General" weightage="20" keywordseo="USD-500-billion" source="keywords">USD 500 billion</keyword>, particularly in <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> value chain including <keyword id="19955662" type="General" weightage="20" keywordseo="renewables" source="keywords">renewables</keyword>, <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> and <keyword id="19931191" type="General" weightage="20" keywordseo="EV" source="keywords">EV</keyword>, by 2030, the <keyword id="19910473" type="General" weightage="20" keywordseo="Commerce-ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Commerce ministry" meta.hostid="153" meta.entityid="Commerce ministry">commerce ministry</keyword> said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum. The meeting, which started on Wednesday, brought together the region's top investors, clean economy companies, and start-ups to mobilise investments into <keyword id="20900661" type="General" weightage="20" keywordseo="sustainable-infrastructure" source="keywords">sustainable infrastructure</keyword>, <keyword id="21246486" type="General" weightage="20" keywordseo="climate-technology" source="keywords">climate technology</keyword>, and renewable energy projects. The 14-member IPEF bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade. The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the pillars except the trade. Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam are members of the bloc. Barthwal, during the inaugural IPEF Clean Economy Investor Forum, acknowledged the forum as a unique platform that brought global investors, policy makers, and academia under one roof, which would be instrumental in advancing sustainable infrastructure in the Indo-Pacific Region. The secretary while addressing the forum underlined the huge investment opportunities that "India offers of more than USD 500 billion, particularly in the clean energy value chain including renewables, green hydrogen and EV and its infrastructure transition, by 2030". Barthwal also highlighted key reforms around ease of doing business in India to improve business environment over the last decade. During the two-day event, more than 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs and government agencies from IPEF partners actively participated under the sustainable infrastructure and climate tech engagement tracks. In the sustainable infrastructure track, after the screening, "four companies (ReNew Power, Avaada Energy Pvt Ltd, Indusbridge Capital Advisors LLP. Founder, SEIP, and Powerica Ltd) from India were shortlisted for pitching their concepts on energy transition, transport and logistics, and waste management/waste to energy to global investors," the ministry said. Similarly in the climate tech track, 10 Indian startups and companies (BluSmart, Recykal, LOHUM, Sea6 Energy, EVage Ventures, Kabira Mobility, Batx Energies, Newtrace and Alt Mobility, igrenEnergi, Inc.) were selected to pitch their innovative ideas, technologies and solutions that contribute to mitigating or adapting to climate change. Further, the ministry said that the forum resulted in USD 23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific. The coalition estimates that its members, taken together, have over USD 25 billion in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years. DFC's (Development Finance Corporation) Board has also approved an equity investment as part of the USD 900 million Eversource Climate Investment Partners-II fund, which will provide capital, management, and expertise to innovative companies using new and existing capabilities to address climate change in India and Southeast Asia. It added that the IPEF partners and the Private Infrastructure Development Group announced the operational launch of the IPEF Catalytic Capital Fund, which would deploy concessional financing, technical assistance, and capacity-building support to expand the pipeline of quality, resilient, and inclusive clean economy infrastructure projects in emerging and upper-middle income economies, for instance, projects in development include a renewable energy platform in India. The fund's founding supporters include Australia, Japan, Korea, and the US, which plan to provide USD 33 million in initial grant to catalyse up to USD 3.3 billion in private investment. "A coalition of investors, including Singapore's Temasek and GIC, have committed to injecting USD 25 billion in infrastructure investments in emerging markets that are part of an economic alliance between the US and several Asia-Pacific countries," it added. The event also witnessed signing of an offtake agreement between Sembcorp Green Hydrogen India, Kyushu Electric and Sojitz for production and export of 200 KTPA (kilotonne per annum) green ammonia from India to Japan. The programme was attended by ministers from Singapore and Japan and Barthwal. The agreement aims to increase production and export of 200 KTPA green ammonia in Phase-I (total 800 KTPA in 4 phases) at Tuticorin Port in India and export to Japan. The project proposed above would further the objective of the National Green Hydrogen Mission implemented by India towards making the country as global hub for production and export of green hydrogen and its derivatives. During an interaction with Indian companies and startups, Additional Secretary in the Department of Commerce and India's Chief Negotiator for IPEF Rajesh Agrawal said the forum provides an opportunity for Indian companies and startups to seek funding and collaborate with global investors.

India offers USD 500 billion investment opportunities in clean energy, green hydrogen and EV by 2030

New Delhi [India], May 17 (ANI): <keyword id="7706673" type="General" weightage="20" keywordseo="finance-minister-nirmala-sitharaman" source="Orion">Finance Minister Nirmala Sitharaman</keyword> asked for a greater push to the <keyword id="19955573" type="General" weightage="20" keywordseo="manufacturing-sector" source="keywords">manufacturing sector</keyword>. Speaking at the CII Annual Business Summit 2024 in Delhi on Friday, Sitharaman said many suggest India has a bigger opportunity in services but we can't ignore manufacturing and it must be pushed with greater investment and help from government policies. "Manufacturing must increase, India must also increase manufacturing with the help of policies, its share in manufacturing in global value chains. So we need to have greater sophistication in our product manufacturing and we also need to see how this can be given the best policy support" said the minister. During the event, the minister highlighted the IMF report which says, India's contribution to global growth will be 18 per cent over the next five years beginning in 2023. The minister also shared that the year 2023 to 2028 will be very dynamic for India's growth. "IMF estimated that India's contribution to the global growth for five years beginning 2023, will be 18 per cent, So between 2023 and 2028 we are looking at an India which will be dynamic contributing to 18 per cent to the global growth," said the minister. The minister also highlighted that India's growth story is a compelling growth story she quoted the S&amp;P global market intelligence outlook and shared about the growing consumer market in India. "The Indian consumer market is likely to double by 2031, there is 2.9 trillion-dollar opportunity in that. The report also suggests that consumer spending on food in India is estimated to rise to 1.4 trillion US dollars, again one trillion dollar opportunity lies in waiting" the minister added. Quoting the <keyword id="962573" type="General" weightage="20" keywordseo="SP-report" source="Orion">S&amp;P report</keyword> the minister further adds that the opportunities in India's <keyword id="20682832" type="General" weightage="20" keywordseo="financial-market" source="keywords">financial market</keyword> is great too "Spending on financial services will climb to 670 billion us dollars, there is 390 billion opportunity waiting for us. These are the opportunities that are untapped till now" Sitharaman said that according to the World Economic Forum projections 50 million net jobs will be created in India from <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> and it will ass USD 1 trillion to the economy of the country. "WEF projects 50 million net economy jobs are going to be created in India from green energy and 1 trillion economic impact by the year 2030. The solar energy has itself shown the extent to which job creation policy exists" said the minister Highlighting the improvement in the financial sector of India the minister pointed out the resolutions by the government of the twin balance sheet problem in India where the balance sheet of banks and corporates both were affected due to the rising NPA's and non-payment of dues. She said "RBI and government survey report said from those twin balance sheet problems of 2013-14 today it is twin balance sheet advantage situation. So both corporate and financial sector balance sheets have not just turned around but are in pink to help. She added that the "twin balance sheet advantage is there for both the opportunity and confidence element that this situation gives us." The CII conference catalyzes conversations along 6 tracks which include Growth and Development, Green Economy, India and the World, Advanced Technology and Innovation, Employment and Livelihood, Startups, and New Age Businesses. The CII Annual Business Summit is a two-day summit in Delhi on May 17-18. (ANI)

Finance minister asks for greater push and investment in the manufacturing sector at the CII Annual Summit

<ul class="summary-list"><li>Malcolm Aw said he pulled out of a <keyword id="19998110" type="General" weightage="100" keywordseo="Neom" source="keywords">Neom</keyword> contract because of alleged Saudi <keyword id="20531932" type="General" weightage="20" keywordseo="human-rights-abuses" source="keywords">human rights abuses</keyword>. </li><li>The CEO of Solar Water told BI that he had planned to build solar <keyword id="21441601" type="General" weightage="20" keywordseo="desalination-plants" source="keywords">desalination plants</keyword>. </li></ul>A <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> founder pulled out of a $100 million <a target="_blank" href="https://www.businessinsider.com/neom-saudi-arabia-forces-authorized-kill-villagers-the-line-colonel-2024-5">Neom</a> contract after he realized that the Saudis were bulldozing villages to make way for the megacity. Malcolm Aw, the CEO and founder of Solar Water, told Business Insider that he initially got involved with Neom to help realize its ambitions as a pioneering green energy "<keyword id="22368252" type="General" weightage="20" keywordseo="eco-city" source="keywords">eco-city</keyword>." Neom is the centerpiece of Saudi ruler <a target="_blank" href="https://www.businessinsider.com/vision-2030-saudi-arabia-plan-future-proof-oil-economy-2023-8">Mohammed bin Salman's Vision 2030 project</a> to diversify the Saudi economy away from fossil fuels and transform it into a luxury tourism destination and innovation hub. However, Aw said he was so appalled at reports of human rights abuses that he canceled the Neom contract in 2022, despite having already begun planning some of his desalination plants there. "They just, they bulldoze their way right through villages and everything, which is just unbelievable," said Aw. Aw spoke to BI after <a target="_blank" href="https://www.bbc.co.uk/news/world-middle-east-68945445">BBC News</a> reported that an exiled Saudi colonel said <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-neom-middle-east-conflict-israel-peace-tourism-2024-5">Saudi Arabia</a> authorized the use of lethal force to clear the way for its <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-neom-roadshow-china-investor-interest-funding-2024-4">Neom</a> desert megacity. Col Rabih Alenezi said he was ordered to evict people living on the land to make way for a part of the project called <a target="_blank" href="https://www.businessinsider.com/neom-what-we-know-saudi-arabia-500bn-mega-city-2019-9">The Line</a>. The area was mostly populated by the Huwaitat tribe. The BBC said it was not able to independently verify Alenezi's comments about lethal force. However, satellite images analyzed by the BBC showed three villages, including schools and hospitals, were destroyed to make way for Neom. One of the villagers, Abdul Rahim al-Huwaiti, was<a target="_blank" href="https://www.aljazeera.com/news/2020/4/15/saudi-forces-kill-man-who-refused-to-give-up-property-activists"> later reportedly killed by Saudi authorities,</a><a target="_blank" href="https://www.ohchr.org/en/press-releases/2023/05/saudi-arabia-un-experts-alarmed-imminent-executions-linked-neom-project"> said the UN.</a> "What it tried to do is turn the whole province into Dubai or Qatar or something, but in doing so, they are clearing the people who have been there for years out of the area," said Aw. "These people could be such a contribution to this whole development. You know the villages have all been removed." Aw, who is a descendant of Tiger Balm founder Aw Boon Haw, told BI that he had initially been drawn to work on the Neom project because of its commitment to green energy and ecology. Aw's company uses solar energy for desalination, while most desalination plants burn fossil fuels and have been found to pollute oceans. Neom had offered Aw's company, Solar Water, $100m for exclusive rights to use his technology. Neom's planners say they want to be an"eco-city," with the signature project "The Line" — a vertical mirrored skyscraper cutting through the desert — <a target="_blank" href="https://www.neom.com/en-us/regions/theline">running on 100% renewable energy</a> and 95% of the land preserved for nature. They claim to be committed to "respecting existing communities and cultural heritage within our region." But Aw believes the promises are not being fulfilled, and planners are performing a U-turn on their original vision for the city. "What they're doing is not ethical and what they're doing is they're creating an exclusivity to house wealthy people in a wealthy touristic area. But that wasn't the original idea. The idea was to develop a green scenario," he said. "The whole idea we came in is to make the place green, and for the people, the local people, the indigenous who have been there for ages, for yonks, to be able to share into development," said Aw. "But then they change course. Suddenly, they are totally different from what we expect to do, and in doing so, they have done a lot of damage." Neom declined to comment on Aw's claims. The Saudi embassy in the UK did not respond to a request for comment. <keyword id="19905161" type="General" weightage="20" keywordseo="Saudi-Arabia" source="keywords">Saudi Arabia</keyword> has been trying to quell public criticism about its <a target="_blank" href="https://www.businessinsider.com/vision-2030-saudi-arabia-plan-future-proof-oil-economy-2023-8">Vision 2030 plans</a>. <a target="_blank" href="https://www.businessinsider.com/saudi-woman-gets-30-years-prison-criticizing-neom-megacity-twitter-2023-6">Last year, BI </a>reported that the crackdown extended to those criticizing the evictions on social media, with Fatima al-Shawarbi sentenced to 30 years in prison for speaking out. The project has been beset by problems in recent months, with costs spiraling to an estimated $1 trillion and key projects delayed or cut back. In April, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-05/saudis-scale-back-ambition-for-1-5-trillion-desert-project-neom">Bloomberg reported</a> that Saudi officials were reducing the number of people expected to be living in Neom from around one million to 300,000 by 2030. The report also said the length of The Line could be cut from around 100 miles to one mile. Aw urged planners to stand by their original ethical and ecological vision. "You know, we have the technology to solve the [green energy] problem that people are complaining about today. Absolutely. Absolutely. But there's just not the vision or the ethical commitment," he said. Correction: July 5, 2024: An earlier version of this story misstated one of Malcolm Aw's claims. While Aw's company, Solar Water, was contracted to build desalination plants in Neom, it withdrew before construction work had begun.

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