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

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

<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

Billionaire Gautam Adani's group is building the world's largest <keyword id="864915" type="General" weightage="20" keywordseo="renewable-energy-park" source="Orion">renewable energy park</keyword> in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from <keyword id="6357019" type="General" weightage="20" keywordseo="solar-energy" source="Orion">solar energy</keyword>. Speaking at the opening of '<keyword id="694229" type="General" weightage="20" keywordseo="energy-revolution" source="Orion">Energy Revolution</keyword>: The <keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said. "In Khavda, which is in the state of Gujarat, we are building the world's largest renewable energy park. It will have a generation capacity of 30 GW of energy - and it is incredibly big. Its area of 538 square kilometers is more than five times bigger than Paris." This is part of the aim to reach 45 GW of renewable energy by 2030, said Adani, the chairman of the apples-to-airport conglomerate. "This will be like providing clean energy to almost every house in England," he said. It currently has an operating renewable portfolio of over 9.5 GW and locked-in projects of up to 21.8 Gigawatt (GW). The Gallery explores how the world can generate and use energy more sustainably to urgently decarbonise and to limit dangerous climate change. "Through striking displays of contemporary and historic objects from the UK and abroad, interactive digital exhibits, and specially commissioned models, the gallery shows how the past, present and future are shaped by human imagination and innovation and explores how we all have a role to play in deciding our energy future," a company statement said. The Gallery, which is open to the public for free, examines this century's defining challenge through the lens of imagination across three sections. In Future Planet, visitors can explore how scientists use complex computer-based models to understand our planet, and what these tell us about the range of climate futures that might lie ahead. In Future Energy, technologies and the people behind them that are reimagining how energy is supplied and used are highlighted alongside historic artefacts which provide a longer view of the transition away from fossil fuels. Adani said museums are very important because they teach and inspire. "This new gallery is about more than just clean air - or about moving away from oil and gas. It is about the energy transition we need - this world needs - and it is about the revolution that is taking place in the world of energy." The gallery, he said, was special because it makes us think, dream and wish for change. At the centre of the gallery is Only Breath, a moving sculpture that signifies the power of nature to inspire technological change. Radiating outward from the centre are plinths which display vital low-carbon renewable energy technologies for the transition, from nuclear, hydrogen and solar to wind and tidal power, alongside remarkable historic innovations that remind us how major change is possible and that many of the technologies needed to make the low-carbon energy transition already exist. Objects in this section include a 7m long tidal turbine blade made by Scottish renewable energy company Orbital Marine Power and the first electric taxi, the Bersey cab, hailed by Londoners in 1897. The challenges of electrification, energy storage, and supply and demand are also explored, with visitors invited to play interactive games and use models that show how energy can be generated and distributed. Possible routes to low-carbon transport are featured, as well the decarbonisation of our buildings and construction industries, and visitors can learn about climate modelling and see instruments used to measure climate. Energy Revolution was designed by award-winning architects, Unknown Works. A key element of sustainable design was the reuse of redundant shelves from the Science Museum's former object store. The gallery's carbon footprint has been monitored, and recyclable aluminium was used where possible. The gallery's Title Funder is Adani Green Energy. Sagar Adani, Executive Director, AGEL, said, "The Science Museum has put together the world's best curated gallery on energy transition. As one of the world's largest renewable energy companies, we are committed to making progress towards net zero - and there is no greater resource in the fight against climate change than education. "Through the sponsorship of the gallery, we aim to inspire young minds, scientists and innovators to imagine a future powered by clean energy and build a carbon-free world. It is an initiative to stimulate their interest, curiosity and awareness, and encourage their active participation in creating clean technologies. The gallery brings together the global community to enable the shift towards energy efficiency, clean energy adoption and carbon emissions reduction." Sir Ian Blatchford, Director and Chief Executive of the Science Museum Group, said, "In a week when we're celebrating a record 2.25 million visits by UK residents to the museum, including a million children, this stunning gallery offers even more to ignite curiosity among those who will visit in the year ahead - provoking important conversations about the urgent need for the world to generate and use energy more sustainably."

Adani eyes 45 GW renewable energy capacity by 2030

<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

Billionaire Mukesh <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>'s <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Ltd will commission a new energy <keyword id="20278828" type="General" weightage="20" keywordseo="giga-complex" source="Orion">giga complex</keyword> in <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> in the second half of 2024, the company said in an earnings statement and investor call. <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> is building a giga complex spread over 5,000 acres in <keyword id="6361405" type="General" weightage="20" keywordseo="jamnagar" source="Orion">Jamnagar</keyword> in Gujarat. The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. "On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors. Post announcement of third-quarter earnings on Friday, Ambani stated that the "New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New <keyword id="679565" type="General" weightage="20" keywordseo="energy-business" source="Orion">Energy business</keyword> will play a pivotal role in the global movement for adoption of cleaner fuels." The Dhirubhai Ambani Green Energy Giga Complex will be among the largest integrated renewable energy manufacturing facilities in the world. Reliance has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power at Rs 5 lakh crore capex. It has received in-principle approval for 74,750 hectares (ha.) of land parcels in Kutch for green hydrogen. The firm has strategically invested in ten global technology innovators with strong expertise across the new energy value chain. "Reliance is nearing the commissioning of the first tranche of 5GW module manufacturing capacity in mid-CY24," Nuvama said in a January 17 note. It has via REC Solar signed a supply agreement with China-based Suzhou Maxwell Technologies to buy a high efficiency production line for HJT cells (4.8GW capacity). It signed a 5.2GW HJT module automation production agreement with China-based SC Solar in January 2023. It won PLIs under both rounds of solar modules PLI (Round 1: USD 0.3 billion, 4GW; Round 2: USD 0.4 billion, 6GW). Reliance (apart from Greenko) is the only company to win incentives for both green hydrogen and electrolysers concluded recently. It won incentives of USD 0.3 per kg for electrolyser capacity of 300MW and USD 0.23 for green hydrogen capacity of 90,000 tonnes. Besides, it has won PLI under ACC battery storage for 5GW capacity. "These incentives are likely to assist Reliance achieve a green hydrogen cost of USD 1' 1.5 per kg," Nuvama said. Given <keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword> is the largest producer and consumer of grey hydrogen, transition to green hydrogen shall enable it to improve margins ahead, it said. The current green hydrogen cost hovers USD 3 per kg, which remains 1.5x compared to grey hydrogen produced using natural gas due to the high cost of generating solar/wind energy as well as high electrolyser cost. Presently, a hybrid of solar and wind remains the cheapest source of generating green hydrogen. The cost for solar remains the highest due to low PLF of electrolysers at 30' 35 per cent versus wind at 65' 70 per cent, and for hybrid 70' 75 per cent.

Reliance to commission new energy giga complex this year

Can India join the ‘green revolution’ by cutting down on fossil fuels and gunning for clean, <keyword id="34553" type="ORGANIZATION" weightage="100" keywordseo="renewable-energy">renewable energy</keyword>? <keyword id="87" type="COUNTRY" weightage="40" keywordseo="Germany">Germany</keyword> seems to be trying a 100% shift, but whether the renewables can actually replace all fossil fuels is a matter of debate. However, if we want better energy security for rural India, more focus on ‘green power’ could be ideal to reach micro-users and out-of-grid zones. This, in turn, will bring down pollution, as well as fuel prices, a sore point with most Indians. The country’s latest initiatives in the field of ‘green power’ seem to indicate that an Energiewende or energy transformation has started here as well. Check out what’s powering India towards the green shift. 
 
World’s biggest solar plant in <keyword id="6355588" type="ORGANIZATION" weightage="100" keywordseo="Rajasthan">Rajasthan</keyword> India is building the world’s largest solar plant, sprawled across 23,000 acres near the Sambhar Lake in Rajasthan. The project aims to generate 4 GW (4,000 MW) – about three times the country’s total <keyword id="70990" type="UNKNOWN" weightage="100" keywordseo="Solar-power">solar power</keyword> capacity and on par with coal-fired mega projects. The new plant in the desert state will be set up and run by a joint venture of 5 public sector utilities, and the first phase should be functional within a couple of years. India currently has a total of 1,761 MW of grid-connected solar capacity, but aims to install around 20 GW by 2022. 
 
<keyword id="60895" type="UNKNOWN" weightage="100" keywordseo="Green-energy">Green energy</keyword> corridor India has put in $7.9 billion to build a ‘green energy corridor’ across 7 states that will feed renewable energy to grid electricity. It aims to connect the southern grid to the <keyword id="54433" type="COMPANY" weightage="80" keywordseo="National-grid">national grid</keyword> by 2014 and create the single largest transmission grid in the world. The entire corridor will be developed over the next 5-6 years, with support from the <keyword id="6354424" type="ORGANIZATION" weightage="60" keywordseo="World-Bank">World Bank</keyword>, the <keyword id="50190" type="CITY" weightage="60" keywordseo="Asian-Development-Bank">Asian Development Bank</keyword> and the <keyword id="952340" type="UNKNOWN" weightage="40" keywordseo="National-Electricity-Fund">National Electricity Fund</keyword>. Germany, too, will provide developmental and technical assistance. 
 
More <keyword id="1890002" type="UNKNOWN" weightage="100" keywordseo="solar-rooftops">solar rooftops</keyword> in Gujarat 
After implementing a solar park and a canal-based solar power generation plant, Gujarat has taken the lead in solar energy. It is now mulling 10,000 rooftop installations with 40-60 MW of installed capacity over the next 3 years. Interestingly, Germany, the world leader with over 28,000 MW of solar power plants, is almost entirely rooftop. 
 
Wave power for west coast states <keyword id="902565" type="UNKNOWN" weightage="100" keywordseo="Tidal-energy">Tidal energy</keyword> may not be price competitive yet, but Portugal has already come up with the world’s first commercial <keyword id="731935" type="UNKNOWN" weightage="100" keywordseo="Wave-energy">wave energy</keyword> farm. India is leveraging the option as well, and Gujarat is all set to build the country’s first tidal energy plant. The <keyword id="51011" type="ORGANIZATION" weightage="60" keywordseo="state-government">state government</keyword> has already signed an MoU with various bodies for a 250 MW facility at the Gulf of Kutch. The proposed unit will produce energy from ocean tides. Meanwhile, <keyword id="186689" type="ORGANIZATION" weightage="60" keywordseo="Maharashtra-Energy-Development-Agency">Maharashtra Energy Development Agency</keyword> (MEDA) is also eyeing the state’s 720 km long coastline to generate wave energy. The Maharashtra coast has an annual wave potential of 4-8 KW/metre of the length of the wave. But during the monsoon (June-August), it could be as high as 12-20 KW/metre. 
 
Offshore wind farms coming soon The traditional, on-shore wind farms have been there for some time now and <keyword id="20154" type="ORGANIZATION" weightage="60" keywordseo="tamil-nadu">Tamil Nadu</keyword> currently holds the pole position at 7,162.3 MW. But the <keyword id="44734" type="ORGANIZATION" weightage="80" keywordseo="Indian-Government">Indian government</keyword> is now setting up the <keyword id="1889999" type="UNKNOWN" weightage="100" keywordseo="National-Offshore-Wind-Energy-Authority">National Offshore Wind Energy Authority</keyword> (NOWA) that will act as the nodal agency for offshore wind projects in the country. NOWA will carry out surveys and resource assessments in Exclusive Economic Zones and also sign contracts with companies for project development in the territorial water. 
 
Image courtesy: Wikimedia Commons

Five Moves That Will Power India’s Green Shift

Gandhinagar, Feb 26 () No new taxes were proposedin the Gujarat budget for 2020-21, presented by the BJPgovernment on Wednesday, which saw a healthy allocation of Rs31,955 crore for education, Rs 11,243 crore for health and Rs7,423 crore for the agriculture sector.The Rs 2,17,287-crore budget for the next fiscal hasan overall surplus estimates of Rs 275 crore.In the budget presented on the first day of theassembly session, Deputy Chief Minister Nitin Patel, who alsoholds the finance portfolio, proposed to reduce electricityduty for shops and offices, cold storages, religious placesand dharmshalas, giving benefits of Rs 320 crore to them.Patel, who presented the budget for the eighth time,did not propose any new taxes.Of the total budget of Rs 2,17,287 crore, as perestimates, the developmental expenditure is expected to be Rs1,33,283 crore and non-developmental expenditure at Rs 80,400crore.The size of the budget for the next fiscal indicatesan increase of Rs 12,472 crore over the last one.Patel, while presenting the budget, told the Housethat special focus has been placed on health, education, watermanagement, animal husbandry, rural and urban development,agriculture and overall social development.Patel allocated Rs 7,423 crore for the agriculturesector and Rs 31,955 crore for the education department.To encourage cow urine and manure-based farming, acultivator shifting to such agriculture methods will be givenan assistance of Rs 10,800 per year to rear cows, he said.Patel made a provision of Rs 50 crore to cover around50,000 farmers under this scheme.To improve primary education scenario, Patel said thegovernment will construct 7,000 new rooms in state-run schoolswith an estimated cost of Rs 650 crore.On the higher education front, Patel said a provisionof Rs 7 crore has been made to start a School of DefenceStudies at the Gujarat University in collaboration with theDRDO.Similarly, a sum of Rs 12 crore has been allocated toIITRAM (Institute of Infrastructure Technology Research andManagement) to start Department of Advance Defence Technologyin collaboration with the DRDO.Patel alloted Rs 11,243 crore for the health andfamily welfare department.While Rs 450 crore has been allotted for the AyushmanBharat Yojna (a Centre-sponsored health scheme), Patel said Rs27 crore will be spent for purchasing 150 new ambulances.Announcing a provision of Rs 3,150 crore for the womenand child development department, Patel said 'Rann Anganwadis'(child care centres) will be opened in desert areas for thechildren of 1,500 saltpan worker families.He also added that 'mini anganwadis' will be opened incentral jails in major cities.To encourage Gujarati diaspora donors wanting to dosomething for their native places, Patel announced a newscheme called 'Madre Vatan'.Under this scheme, the government will contribute amatching amount of donation given by such donors fordeveloping various facilities such as schools, anganwadicentres, roads, water tanks and ponds.For making Gujarat plastic-free, Patel announced a newscheme wherein rag pickers collecting dry waste and plastictrash will be given financial assistance.Patel said the world's largest hybrid energy park iscoming up at Kutch district. It has capacity to generate25,000 megawatt of electricity per year at one place byharnessing solar and wind energy.To add some more tourist attractions near the Statueof Unity at Kevadiya and nearby areas in Narmada district, aprovision of Rs 387 crore has been made in the budget.Patel proposed a reduction in electricity duty onshops and offices. From the present 25 per cent, Patelproposed 20 per cent levy.While this relief will benefit 30 lakh people, thestate will have to forgo revenue of Rs 320 crore every year.The finance minister also proposed to reduceelectricity duty levied on religious places and dharmshalas.He proposed to reduce electricity duty on religiousplaces from 25 per cent to 7.5 per cent for rural areas and to15 per cent for urban areas.For dharmshalas, which currently pay 25 per cent duty,Patel proposed to slash it to 15 per cent for high-tensionconnections and 10 per cent for low-tension connections. PJT PDRSY RSY

No new taxes in Gujarat budget; focus on education, health

India might soon be completing the biggest clean-tech acquisition deal. If all goes well, the largest renewable energy development company in the world by generation capacity, SunEdison will be buying Mumbai-based Continuum <keyword id="83273" type="UNKNOWN" weightage="20" keywordseo="Wind-energy">Wind Energy</keyword>. 
 Just when the Prime Minister has been pushing for <keyword id="154273" type="ORGANIZATION" weightage="20" keywordseo="clean-energy">clean energy</keyword>, here comes the bliss. 
 As per a news report in The Economic Times, Indian clean energy sector has already seen international players like <keyword id="315881" type="COMPANY" weightage="20" keywordseo="Sembcorp">Sembcorp</keyword> and investors such as <keyword id="6361649" type="CITY" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> take control of Indian clean power developers in the backdrop of the <keyword id="6360789" type="ORGANIZATION" weightage="20" keywordseo="Modi-Government">Modi government</keyword>'s renewed focus on the space and its ambitious targto add 100 gw (1,00,000 mw) renewable capacity by 2022. SunEdison has already made a non-binding offer, valuing Continuum Wind Energy at Rs 3,720-3,900 crore ($620-650 million), inclusive of its debt, according to the people cited. 
 The news report further says, originally founded by an investment banker turned <keyword id="60895" type="UNKNOWN" weightage="20" keywordseo="Green-energy">green energy</keyword> entrepreneur Arvind Bansal and his IIM-Ahmedabad classmate Vikash Saraf of the Essar Group, Continuum Wind Energy is currently controlled by Morgan Stanley's infrastructure-focussed <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">private equity</keyword> fund - Morgan Stanley Infrastructure (MSI). 
 
MSI, a $4-billion global platform, is part of the global financial services firm's private investment unit which invests directly in companies. In 2012, MSI had invested $200 million (Rs 1,200 crore) into the company through a convertible instrument to buy a majority stake. Till date, they have already deployed around $160 million, said sources. 
 
Both MSI and the erstwhile promoters are expected to cash out post takeover but Bansal and the senior management will stay on for 3-4 years. By the end of the fiscal year ending March 31, 2016, Continuum is expected to have a portfolio of 500 mw of operating assets spread across wind parks in MP, Gujarat and Maharashtra. Analysts tracking the sector estimate that the company should close FY15 with Rs 400 crore of revenue. 
 
The ET further says, earlier this year, the SunEdison signed an agreement with Adani Enterprises for a $4-billion joint venture to build solar panels in Gujarat. "SunEdison has been scaling up in India, especially in wind. In May, they acquired two renewable energy portfolios totalling 140 mw. This includes the India wind portfolio of around 100 mw of Spain-based FersaEnergias Renovables SA," said an energy consultant who tracks the space. 
 "Globally too, they are adding to their wind portfolio significantly through buyouts," he added. Last November, it agreed to take over First Wind, one of the largest wind power developers in the <keyword id="6356955" type="COUNTRY" weightage="20" keywordseo="united-states">United States</keyword>, for $2.4 billion - making it the largest <keyword id="208390" type="POSITION" weightage="20" keywordseo="player-in-this-sector">player in this sector</keyword>. That acquisition will expand SunEdison's project installation pipeline for 2015 by an estimated 500 mw. In addition, it will also expand the total capacity of TerraForm Power's generating portfolio by more than 50%. 
 
(Image: Wikimedia)

SunEdison may soon buy Continuum Wind Energy, making it India’s biggest clean energy buy

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">EcotricityDale Vince, the CEO of Ecotricity spoke to Business Insider.</div></div></div>Britain's government is putting an abrupt end to renewable energy subsidies and in turn the move could potentially kill off the sector.Dale Vince, the boss of the world's first green energy company Ecotricity, told Business Insider exactly why he is not only not surprised that the Conservative-led government decided pull out of one of the most burgeoning developing sectors for Britain and the rest of the world but also how the country is now "embarrassing" for its lack of renewable energy support."Subsidies are not being phased out, they are being stopped - it's premature and suddenly," said Vince, who founded Ecotricity in 1995, which uses wind and sun parks to supply over 170,000 customers in Britain, in an interview with Business Insider. "I think it is a deliberate move to put the brakes on as renewable energy is now affecting competition and not in the way that favours fossil fuels.""The government is rigging the energy markets in favour of fossil fuels and nuclear energy. The energy sector is an incredible mess and taxpayers are footing the bill for the amount of money the government is just throwing at oil and gas at the moment."The International Monetary Fund revealed earlier this year that fossil fuel companies benefit from $5.3 trillion (£3.4 trillion) a year in global subsidies. <a href="http://www.imf.org/external/pubs/cat/longres.aspx?sk=42940.0">This is equivalent to $168,000 a second, $10 million a minute and $600 million per hour</a>. The IMF then showed that Britain's fossil fuel industry <a href="http://smartestenergy.com/News-Hub/Article.aspx?ArticleID=4547&amp;ArticleTitle=Fossil%20fuel%20subsidies%20in%20UK%20over%20seven%20times%20those%20for%20renewables,%20says%20IMF#sthash.gaFxYEUS.dpuf">siphoned seven times more in subsidies than the renewable energy industry</a>. This is equivalent to £400 per head of population, compared to £100 per head per year for subsidising renewable energy.This week, the government is expected to sign off on nearly <a href="http://www.ft.com/intl/cms/s/0/0f664c78-821b-11e5-8095-ed1a37d1e096.html#axzz3qKA8C0j2">£500 million more in </a><a href="http://www.ft.com/intl/cms/s/0/0f664c78-821b-11e5-8095-ed1a37d1e096.html#axzz3qKA8C0j2">subsidies for highly polluting diesel generators in order to sate demand and close the gap on power supply</a>. "Renewable energy is cheaper for the consumer, sustainable, and is really starting to cause problems for the fossil fuel sector - especially with the cost of oil falling so dramatically," said Vince. Oil prices have dropped from triple digit highs of summer 2014 to around $50 per barrel as of today."It's bad news for fossil fuels and the government is throwing money at them, whereas renewable energy isn't affected about these massive [market] moves at all. Renewable energy isn't just on the utility scale, people can put solar panels on their roofs for power. Renewable energy is radical and gives more power to consumers too and the government doesn't like that."Renewable energy, especially wind power, is growing in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>. Here are the latest stats from industry body RenewableUK:<div class="KonaFilter image-container display-table"><div><div class="image">RenewableUK</div></div></div>Britain is bound under European Union law to produce 15% of its energy from renewable sources by 2020. In February, the then-coalition government, made up of the Conservatives and the Liberal Democrats, said it was on track to hit this target.The Conservatives then won the General Election in May this year which brought an end to its coalition with the more green-friendly Lib Dems. As soon as the Tories came to power, the government took swift steps to phase out renewable energy subsidies altogether. The pivotal steps include radically changing planning laws and cancelling access to onshore wind subsidies, which has shaken the industry to the core.Ross McArthur, managing director and head of renewable energy at the infrastructure group <a href="http://markets.ft.com/tearsheets/performance.asp?s=uk:JLG" class="wsodCompany" data-hover-chart="uk:JLG">John Laing</a> said last month that the UK's coalition government completed or approved only 14 repowering energy projects, the types that are meant to update the infrastructure of existing energy projects, since 2010 but now, with the Tories in power, they are all "more or less gone."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Flickr/Lawrence Murray</div></div></div>"Prime Minister David Cameron is going to the world leaders' climate change conference this week and will have to have to explain how Britain is rying to fight global warming. God only know what he's going to say as he's the master of spin. He's like King Cnut," said Vince, referring to the 11th century King of Denmark who is mainly referred to popular culture as a deluded monarch believing he had supernatural powers."It's embarrassing that Britain is at the bottom of the European league table for renewable energy, along with Malta and Luxembourg. Everyone knew the Tories were capable of this [completely stopping subsidies to make it harder for renewable energy companies to grow]. Especially without the Lib Dems putting a brake on them. The government said it will hit its target. But it's not interested in make renewable energy a bigger part of Britain's energy complex. "Ecotricity is in a different league to a lot of newer renewable energy companies as it is more established and able to raise a large amount of funds from issuing bonds - all of which have been oversubscribed. It launched two £10 million ecobonds, one in 2010 and another in 2011, to help finance the building of a hybrid solar energy park and four wind power projects totalling nearly 20 megawatts of capacity.It is currently half way through its third bond issuance, worth £25 million, to assist in building more green energy projects in Britain - that could generate enough green energy to power over 10,000 homes. The bond offers investors a return of 5.5% per annum (or 6.0% per annum for Ecotricity customers). It is apparently having a faster uptake than the other two bonds and therefore is on track to be oversubscribed too.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Pool/John StillwellBritain's Prime Minister David Cameron (L) stands alongside former Deputy Prime Minister Nick Clegg.</div></div></div>However, a lot of developing renewable energy companies out there are finding difficulty in surviving, let alone expanding, due to the shake-up in the industry from the government.<a href="http://www.ft.com/intl/cms/s/0/591b0cc8-7d61-11e5-98fb-5a6d4728f74e.html#axzz3qKA8C0j2">RenewableUK told the Financial Times this week that the wind industry in particular is going to suffer because the turbines</a>, which are designed to last for 20-25 years, will reach the end of the serviceable life during the next government. It says the cut in subsidies and change in planning permission in England has made it difficult for groups to get funding or projects off the ground due to the uncertainty."We saw the problems three years ago with the Tories in the coalition. We have already given up on England for now for projects because we knew what they were capable of," said Vince. "Scotland has more wind and has a different approach to renewable energy, and of course planning permission. We are concentrating on Scotland for our wind power expansion. We saw it coming."Britain's Department of Energy and Climate Change said this week: "Our priority is providing clean, affordable and secure energy that hard-working families and businesses can rely on. We want to protect bill payers, ensuring technologies stand on their own two feet whilst also meeting our renewable energy commitments."However, Vince said nothing positive towards the nurturing of renewable energy will happen under this government and the industry will have to weather the storm until they are unseated."Every political party gets how important renewable energy is - apart from the Tories. That's why Ecotricity and I gave money to the Green Party, Labour, the Lib Dems - basically everyone apart from the Tories because they just don't get it." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/bullard-raising-rates-macroeconomics-interest-sensitive-sectors-saving-investing-borrowing-2015-10">This is what will happen when the Fed raises rates</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BkbDlkeDqT2RZ4etnNLIpfljksCpCelH" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

British green tech millionaire: The Tory government is rigging the energy markets

One of the few positive outcomes of the United Nations Climate Change Conference (COP26) is the commitment by major nations to achieve net zero carbon emissions by a certain year. <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> has also committed to becoming a net zero country by 2070. While some developed nations may have scoffed at this timeline, the reality is that nations with different developmental trajectories cannot (and should not) be treated equally. The major polluters must first walk the talk and then expect others to follow suit. While it is a never-ending blame game between the developed and developing nations, in the interest of humanity and for their own well-being, the nations must do everything within their powers to ensure that they keep their emissions under control. <cmsannotation type="cmsannotation" annotationid="Policy initiatives in India" comment="subhead" text="Policy initiatives in India">Policy initiatives in India</cmsannotation> India has taken several measures towards climate change adaptation and mitigation. Our statutory framework ensures that air and water pollution is prevented and controlled, forests are conserved and restored, biological diversity is protected, and energy is generated and utilised efficiently to ensure minimal environmental impact. The Government has launched various policy initiatives to work towards its climate change commitments. The national and state action plans on climate change aim at integrating such climate action into their modus operandi. Among national schemes, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) focuses on clean mobility and is meant to promote the transition to electric vehicles by providing incentives for manufacturing, adoption and development of associated infrastructure for electric vehicles. Financial assistance is being offered at the central and state levels for developing solar and wind energy projects like solar parks, grid-connected solar rooftops in residential buildings, installing off-grid solar devices and solar-based LED lights. Initiatives like Gujarat Emissions Trading Scheme, Renewable Energy Certificate, Perform, Achieve and Trade (PAT) Scheme are all meant to promote renewables, reduce emissions and achieve energy efficiency at the central and state levels. <cmsannotation type="cmsannotation" annotationid="Recent impetus to climate action" comment="subhead" text="Recent impetus to climate action">Recent impetus to climate action</cmsannotation> Some important and innovative schemes initiated in India to combat climate change include the India Cooling Action Plan 2019, which aims to reduce direct and indirect emissions from energy-intensive cooling devices like refrigerators, air conditioners, etc. The National Clean Air Program 2019 aims to reduce air pollution and addresses several forms of harmful emissions. The National Hydrogen Mission launched in 2021 aims to help India achieve its climate targets by making India a green hydrogen hub. India is also targeting to increase the usage of alternative fuels to reduce emissions by blending 20% Ethanol in petrol by 2025. Moreover, policies like National Building Code, 2016, Energy Conservation Building Code, 2017, Buildings Energy Efficiency Programme, green energy rating system, star rating programme, etc., seek to promote sustainability in the construction sector by improving energy efficiency, water conservation, waste management, recycling, etc. The union budget for the financial year 2022-23 also announced initiatives for financing climate change mitigation and adaptation strategies through sovereign green bonds, blended finance, etc. <cmsannotation type="cmsannotation" annotationid="Local and regional climate action" comment="subhead" text="Local and regional climate action">Local and regional climate action</cmsannotation> In addition to the various central government initiatives being implemented across the country, various states are devising their own strategies and plan to combat climate change. States like Gujarat, Odisha, and <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> have constituted specific departments and cells to focus on climate change adaptation and mitigation. Kerala has announced a dedicated fund for this purpose and has issued green bonds to invest in climate resilience activities. <keyword id="13126" type="General" weightage="50" keywordseo="maharashtra" source="Orion">Maharashtra</keyword> has released the Mumbai Climate Action Plan to address climate change impacts in the coastal megacity and achieve net zero emissions by 2050. It is not just the central and state governments but also the corporates are taking active steps to combat climate change. More than sixty Indian companies have announced their net zero greenhouse gas (GHG) emissions targets. Leading Indian companies, including <keyword id="8555" type="General" weightage="50" keywordseo="tata" source="Orion">Tata</keyword>, Reliance, Mahindra, ITC, Adani Transmission, Arcelor Mittal Nippon Steel, and Dalmia Cement, have voluntarily pledged to move towards carbon neutrality through GHG emissions reduction and energy efficiency. With environmental, social and governance (<keyword id="77363" type="General" weightage="80" keywordseo="esg" source="Orion">ESG</keyword>) issues gaining prominence and ESG reporting becoming mandatory for the top 1000 companies, almost all major companies are addressing ESG issues to set their house in order and adopt the best practices. Various Indian banks have also incorporated ESG considerations into their lending policies. Therefore, be it the government or the private sector, every stakeholder has realised the importance of climate action and is working to prevent the planetary crisis, which, not to forget, affects almost all living species, including humans. <keyword id="12498063" type="General" weightage="50" keywordseo="nawneet-vibhaw" source="Orion">Nawneet Vibhaw</keyword> is a <keyword id="6399933" type="General" weightage="50" keywordseo="partner" source="Orion">Partner</keyword> at Shardul Amarchand Mangaldas &amp; Co. in the Environmental Law practice. This column is part of a year-long (2022-23) campaign on the theme “Only One Earth: Sustaining People, Planet and Prosperity” by Business Insider India’s <a href="https://www.businessinsider.in/sustainability">Sustainability Insider</a>. Disclaimer: The opinions expressed by the author/interviewee do not necessarily reflect the views of Business Insider India. The article has been partly edited for length and clarity.

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