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<ul class="summary-list"><li>A massive slab of ice and rock broke off a glacier in the mountains of northern <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> in February.</li><li>New research suggests the slab fell a mile down, resulting in a rare flood <a href="https://www.insider.com/photos-show-rescue-operations-following-glacier-caused-flooding-in-india-2021-2">that killed 200 people</a>.</li><li>A warming climate is linked to more glacier-related landslides, so experts expect to see more of such floods.</li></ul>Imagine a wall of rock and ice 1,800 feet wide falling the length of four Empire State Buildings stacked end-to-end.A slab that size is responsible for the disaster in northern India that killed more than 200 people and destroyed two power plants four months ago, according to <a href="https://eurekalert.us12.list-manage.com/track/click?u=394dac0d2e831bfd2ca7fc3b5&amp;id=a5a2e2a0ee&amp;e=d04231fbdc4231fbdc">a new study</a> published Thursday.Just before dawn on February 7, a massive chunk broke off a glacier on Ronti Peak in the Indian Himalayas. The slab dropped more than a mile into the valley below, from its position roughly 18,000 feet above ground, at almost 134 miles per hour. As the chunk landed, the rock disintegrated and the ice melted, creating a wall of water and debris that swiftly funneled into the river valley below. From there, the mixture cascaded toward the Rishiganaga and Tapovan <keyword id="84643" type="COMPANY" weightage="60" keywordseo="hydropower">hydropower</keyword> plants in India's Chamoli district. After a curve in the valley slowed the sludge down, it swept into tunnels underneath the plants at speeds of up to 56 miles per hour, trapping and killing many workers inside.The severity of the event, known as the Chamoli disaster, initially stumped scientists. Typically, landslides in the region don't kickstart floods as rapid or lengthy as the one that occurred in February."A 'normal' dry rock <keyword id="108152" type="PERSON" weightage="60" keywordseo="avalanche">avalanche</keyword> would not have traveled as far as this one did - in other words, would not have reached either the Rishiganga or Tapovan hydroplants," Dan Shugar, a geoscientist at the University of Calgary and co-author of the new study, told Insider.Shugar's team discovered key elements that could explain the disaster's severity: The initial avalanche's composition (about 20% ice and 80% rock), coupled with its mile-long fall, resulted in a hyper-mobile torrent of debris that doomed workers in the valley below.The researchers calculated that the flood was 27 million cubic meters in volume - enough to cover <a href="http://mathcentral.uregina.ca/QQ/database/QQ.09.13/h/john1.html">more than 1,600 football fields</a> in 10 feet of debris and still have some left over.<h2>The flood climbed 722 feet up the valley walls</h2><div type="image" title="chamoli disaster" height="2158" width="2330" msid="83417712" hostid="261"></div>Flooding and landslides are not uncommon in Uttarakhand, the area of northern India where Chamoli is located. In 2013, heavy rainfall set off devastating floods in the area than killed <a href="https://www.cbsnews.com/news/india-raises-flood-death-toll-reaches-5700-as-all-missing-persons-now-presumed-dead/">up to 5,700 people</a>. After the February disaster, experts initially thought a lake near the top of Ronti Peak had burst after the chunks of glacier holding it together cracked or broke off. Some glacial lakes can hold hundreds of millions of cubic meters of water. But satellite imagery showed there were no such lakes along the debris flow's path. By analyzing maps of the valleys' terrain, video footage of the event, and earthquake data in the area, Shugar's team was able to reconstruct what happened.The chunk of glacier that broke off Ronti Peak in the early morning was, on average, 262 feet thick. When it touched down at the mountain's base, the slab flattened a section of nearby forest, and threw a thick dust cloud into air. The impact with the valley floor was so violent that the rock and ice therein blended together to form a flood that climbed 722 feet up the valley walls.It was "almost the 'optimal' combination" for melting glacier ice, Holger Frey, a glaciologist at the University of Zurich in Switzerland, told Insider. The massive flood, he added, "facilitated the large reach and destructive nature of this disastrous event."<div type="image" title="chamoli" height="1349" width="2953" msid="83417713" hostid="261"></div><h2>'It's only a matter of time' until a disaster like this happens again</h2>The flood caught workers at the hydroplants in Chamoli by surprise. But according to the study, an early warning system could have given workers six to 10 minutes of notice before the flood reached them. Seismic sensors - which monitor rumblings in the Earth for signs of earthquakes or shifting rock - can detect when an avalanche happens and let workers know if a flood is on its way.Even if the Chamoli disaster couldn't have been prevented, Frey said, "a well-designed warning system should be able to warn workers at these plants and allow them to seek safe grounds."After all, the conditions that led to the Chamoli disaster aren't going to disappear any time soon.<div type="image" title="chamoli" height="2657" width="3543" msid="83417714" hostid="261"></div>Evidence from other mountainous regions, like Alaska, suggest glacier-related landslides are increasing in frequency as the climate warms, according to Shugar."I expect this would be similar in high mountain Asia," he said.Rising air and surface temperatures are linked to more instability in <keyword id="6616544" type="UNKNOWN" weightage="60" keywordseo="Glaciers">glaciers</keyword> and an increasing likelihood of landslides high in the mountains. The warmer the Earth becomes, the more glaciers shrink."It's only a matter of time before the next such massive event will happen somewhere in the Himalayas," Frey said <a href="https://www.eurekalert.org/emb_releases/2021-06/uoz-cdc060821.php">in a press release</a>.

Scientists have solved the mystery behind India's devastating flood that killed 200 people in February

Beijing, <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword> will build a <keyword id="10353766" type="UNKNOWN" weightage="20" keywordseo="major-hydropower-project">major hydropower project</keyword> on Brahmaputra river in Tibet and a proposal for this has been clearly put forward in the 14th Five-Year Plan to be implemented from next year, the official media on Sunday quoted the head of a Chinese company tasked to build the dam as saying. <keyword id="10352993" type="PERSON" weightage="20" keywordseo="yan-zhiyong">Yan Zhiyong</keyword>, chairman of <keyword id="10353764" type="COMPANY" weightage="20" keywordseo="the-power-construction-corp-of-china">the Power Construction Corp of China</keyword>, said China will "implement hydropower exploitation in the downstream of <keyword id="10353765" type="LOCATION" weightage="20" keywordseo="the-yarlung-zangbo-river">the Yarlung Zangbo River</keyword> (the Tibetan name for Brahmaputra) and the project could serve to maintain water resources and domestic security, the Global Times reported. Speaking at a conference on Thursday, Yan said the project was clearly put forward in the proposals for formulating the country's 14th Five-Year Plan (2021-25) and its long-term goals through 2035 made by the Central Committee of the ruling Communist Party of China (CPC), it quoted an article on the WeChat account of the Central Committee of the Communist Youth League of China on Sunday. "There is no parallel in history it will be a historic opportunity for the Chinese hydropower industry," Yan told the conference organised to celebrate the 40th anniversary of the founding of the China Society for Hydropower Engineering. The 14th Five-Year Plan (2021-2025) and National Economic and Social Development and the Long-Range Objectives Through the Year 2035 were adopted by Plenum - a key policy body of the CPC - last month. Details of the plan were expected to be released after the formal ratification by National People's Congress (NPC) early next year. Proposals for dams on the Brahmaputra have evoked concerns in India and Bangladesh, the riparian states, and China has downplayed such anxieties saying it would keep their interests in mind. As a lower riparian State with considerable established user rights to the waters of the trans-border rivers, the Indian government has consistently conveyed its views and concerns to the Chinese authorities and has urged them to ensure that the interests of downstream States are not harmed by any activities in upstream areas. China has already operationalised the USD 1.5 billion Zam Hydropower Station, the largest in Tibet in 2015. About the new dam, the Global Times report said that speculation about China planning to build a "super hydropower station" in Medog county, where the Yarlung Zangbo Grand Canyon is located, have circulated for years. Medog is the last county in Tibet which borders Arunachal Pradesh. In his address, Yan said that the hydropower exploitation of the Yarlung Zangbo River downstream is more than a hydropower project. It is also meaningful for the environment, national security, living standards, energy and international cooperation. According to the report, the mainstream of the Yarlung Zangbo River has the richest water resources in Tibet Autonomous Region, about 80 million kilowatt hours (kWh), while the 50-kilometer section of the Yarlung Zangbo Grand Canyon has 70 million kWh that could be developed with a 2,000-meter drop, which equals more than three Three Gorges power stations in Hubei province. Tibet has about 200 million kWh of water resources, accounting for 30 per cent of the total in China. The 60 million kWh hydropower exploitation at the downstream of the Yarlung Zangbo River could provide 300 billion kWh of clean, renewable and zero-carbon electricity annually. The project will play a significant role in realising China's goal of reaching a carbon emissions peak before 2030 and carbon neutrality in 2060, he said. "It is a project for national security, including water resources and domestic security," he said, noting that the project will also smooth cooperation with South Asia. The hydropower station could generate income of 20 billion yuan (USD three billion) annually for the Tibet Autonomous Region, he said. India and China established Expert Level Mechanism (ELM) in 2006 to discuss various issues related to trans-border rivers. Under existing bilateral Memorandums of Understanding, China provides hydrological information of Brahmaputra River and Sutlej River to India during the flood seasons. Under the arrangement, China provides flood season data of the Brahmaputra river between May 15 and October 15 every year. SEE ALSO - <a href="https://www.businessinsider.in/india/news/rajasthan-government-imposes-night-curfew-from-8-pm-to-6-am-these-are-the-districts-under-restriction/articleshow/79484267.cms" data-type="tilCustomLink">https://www.businessinsider.in/india/news/rajasthan-government-imposes-night-curfew-from-8-pm-to-6-am-these-are-the-districts-under-restriction/articleshow/79484267.cms</a> <a href="https://www.businessinsider.in/business/startups/news/from-whitehat-jr-big-basket-and-unacademy-to-dunzo-these-are-the-indian-startups-that-reported-data-leaks-over-the-past-few-months/slidelist/79467618.cms" data-type="tilCustomLink">https://www.businessinsider.in/business/startups/news/from-whitehat-jr-big-basket-and-unacademy-to-dunzo-these-are-the-indian-startups-that-reported-data-leaks-over-the-past-few-months/slidelist/79467618.cms</a>

China to build a major dam on Brahmaputra river: Official

<ul class="summary-list" style="text-align: left;"><li>Microsoft cofounder and former CEO Bill Gates is the <a href="https://www.forbes.com/real-time-billionaires/#5b1b12343d78">second richest person</a> in the world, with a net worth over $100 billion. </li><li>He's invested a sizeable chunk of cash into clean-energy companies, largely through a billion-dollar fund he spearheads called Breakthrough Energy Ventures. </li><li>Most of the startups he funds address three solutions Gates says are necessary for the clean-energy transition: Long-duration storage, nuclear energy and carbon capture, and power transmission. </li><li>Business Insider compiled a list of the 24 clean-energy companies that Gates has invested in, using data from PitchBook. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Bill Gates is rich. His net worth is on the order of $100 billion, according to <a href="https://www.forbes.com/real-time-billionaires/#5b1b12343d78">Forbes' real-time billionaires list</a>, making him the second-wealthiest person on the planet. He's also one of the most generous, as measured by how much money he's given away. Through the Bill and Melinda Gates Foundation, Gates and his wife have dished out <a href="https://www.forbes.com/top-givers/#660cfa0b66ff">about $50 billion</a> since 1994 to support public health, education, and development. But what Gates receives less attention for is his investments in startups - of which there are dozens. Many of them fall into the category of clean energy. "What's needed are affordable ways to bring clean energy to nearly a billion people who deserve more access to electricity," Gates <a href="https://www.youtube.com/watch?v=Crv1hbk9HuM">said</a> in a video that's part of his personal blog, Gates Notes. "That's why I'm making investments in clean, affordable, and reliable ways to generate electricity, and I'm encouraging others to do the same." Gates' most public venture vehicle is a $1 billion fund he spearheaded with a coalition of other extremely high-net-worth individuals called <a href="https://www.businessinsider.com/top-10-most-active-clean-energy-investors-in-2019-bnef-2020-1#breakthrough-energy-ventures-4-deals-6">Breakthrough Energy Ventures</a> (BEV). Richard Branson, Michael Bloomberg, Ray Dalio, and Vinod Khosla are all investors in BEV, one of the world's <a href="https://www.businessinsider.com/top-10-most-active-clean-energy-investors-in-2019-bnef-2020-1">most active clean-energy venture funds</a>. Read more: <a href="https://www.businessinsider.com/top-10-most-active-clean-energy-investors-in-2019-bnef-2020-1">The top funds making bets on the clean-energy industry</a>"Our goal is to generate a financial return on our investments, each of which will have the potential of significantly reducing greenhouse gas emissions," the fund's website says. Gates has also invested in startups through other funds including Gates Ventures, Cascade Investments, and Village Global, according to the startup finance database PitchBook.Most startups he backs are working on one of three solutions that Gates says the world needs "for the transition to clean electricity," according to his blog. The first is long-duration energy storage - essentially, big batteries that can store power for days or months. "Finding ways to store that energy to use after the sun sets and the wind stops blowing is a big challenge we need to solve," he wrote in a blog post. The second is a mix of nuclear energy and carbon capture, a seemingly unusual pairing. Citing an <a href="https://www.sciencedirect.com/science/article/pii/S2542435118303866#abs0010">MIT study</a>, he said that if the energy transition includes nuclear power and carbon capture and storage technologies - which can reduce emissions from fossil fuel plants - it would "make carbon-free electricity up to 62 percent cheaper than using renewables alone."<a href="http://newsletter.businessinsider.com/join/4np/power-line">Click here to subscribe to Power Line</a>, Business Insider's weekly energy newsletter.Finally, he says we also need high-voltage, long-distance power lines that can send direct current from renewable energy sources to areas of demand. "Connecting our renewable energy supply with demand will require us to build transmission lines that can handle large amounts of power over very long distances," he said. Business Insider compiled a list of clean-energy startups that received investment from Gates or one of his investment funds, according to data from PitchBook and company statements.The startups below are listed by how much total capital they've raised in increasing order.

Batteries, fusion, and hydropower: Meet the 24 clean-energy startups that Bill Gates is backing

<ul><li>Earlier this month, <keyword id="6356598" type="LOCATION" weightage="20" keywordseo="bhutan">Bhutan</keyword> elected a new Prime Minister, Dr Lotay Tshering, after his DNT party won 30 out of 47 seats in the national assembly. </li><li>The result was likely a disappointment for <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> as the DNT party has advocated a slowdown in new hydropower projects in order to keep a tight lid on the country’s increasing debts. </li><li>As the largest buyer of Bhutanese hydropower, India has a significant degree of investments in the sector - with 80% of projects currently under construction being financed by Indian entities. </li></ul>Earlier this month, Bhutan elected a new Prime Minister, Dr Lotay Tshering, in what was the mountain kingdom’s <a href="http://www.ecb.bt/?p=6280">third democratic election</a> to date. Tshering’s <keyword id="1737551" type="COMPANY" weightage="20" keywordseo="Druk-Nyamrup-Tshogpa">Druk Nyamrup Tshogpa</keyword> (DNT) secured 30 out of 47 seats in the National Assembly, while the remaining seats went to Druk Phuensum Tshogpa (DPT). Despite <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s extension <a href="https://www.livemint.com/Politics/2JKvVIZTAFhXz4F02xt50H/Narendra-Modi-congratulates-Bhutans-newly-elected-PM-Lotay.html">of congratulations</a> to Tshering, the result was a disappointment to India. The losing DPT party was in favour of adding a lot more hydropower capacity <a href="https://www.aljazeera.com/news/2018/10/bhutan-voters-chooses-centre-left-dnt-general-election-181018184758313.html">by building more plants </a>with India’s cooperation. This was in stark contrast to the DNT, which advocated a slowdown in new power projects in order to keep a tight lid on the country’s increasing debts and redirect some of the spending in the sector to healthcare and the alleviation of the unemployment situation. That the hydropower sector only employs <a href="https://asia.nikkei.com/Politics/Mounting-Indian-debts-hang-over-Bhutan-election">2%</a> of Bhutan’s workforce doesn’t do it any favours in the DNT’s eyes either. Given that its situated between India and China, Bhutan is strategically important to both countries, and like Nepal, is one of the small countries in the region where they’re jostling against each other for influence. India has a significant degree of investments in Bhutan’s <keyword id="743601" type="PERSON" weightage="20" keywordseo="hydroelectricity">hydroelectricity</keyword> sector - with <a href="https://asia.nikkei.com/Politics/Mounting-Indian-debts-hang-over-Bhutan-election">80% of projects </a>currently under construction being financed by Indian entities. While hydropower exports to India have been a prime growth driver for the Bhutanese economy, ties with India have come <a href="https://www.thehindu.com/news/national/hydropower-debt-delays-biggest-challenge-in-ties-with-india-say-bhutan-officials/article19630701.ece">under strain</a> in recent years owing to the debt that the mountain nation is taking on for these projects. As of May 2018, Bhutan’s hydropower debt was pegged at <a href="http://www.businessbhutan.bt/businessbhutan/hydropower-debt-increases-three-fold/">133 billion ngultrums</a> ($1.8 billion). The hydropower sector is a crucial component of the country’s plan to achieve self-sufficiency in terms of energy. However, delays in projects and cost overruns have led authorities to question the feasibility of additional projects. The DNT has campaigned for the diversification of Bhutan’s energy sources, singling out biogas as an important investment. If ties with Bhutan and India continue to deteriorate — a plausible outcome as the debate over hydropower reaches fever pitch — China will look to step in and fill the void. Bhutan is in need of development and financial support for its economy, and knows it can take advantage of the competition between India and China when it comes to securing a beneficial relationship with a large regional neighbour.

The new Prime Minister of Bhutan wants to reduce the nation's reliance on hydropower — and that could be a problem for India

Forget about defining the <a href="http://www.businessinsider.in/searchresult.cms?query=Line+of+Actual+Control+">Line of Actual Control</a> and addressing the issue of Chinese intrusion into Indian territories as <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> has now given birth to a new issue which could further widen gaps between the two countries. 
 It has now operationalised the $1.5 billion Zam <keyword id="2398983" type="UNKNOWN" weightage="100" keywordseo="hydropower-station">Hydropower Station</keyword>, which has raised concerns in India over the likelihood of <a href="http://www.businessinsider.in/searchresult.cms?query=disrupting+water+supplies">disrupting water supplies</a>. 
 The dam, the largest in <keyword id="6364076" type="COUNTRY" weightage="60" keywordseo="Tibet">Tibet</keyword>, built on the Brahmaputra river, also raised concerns in India over <a href="http://www.businessinsider.in/searchresult.cms?query=China">China's ability to release water in times of conflict</a> which could pose serious risk of flooding. 
 
The China Gezhouba Group, a major hydropower contractor based in Wuhan, capital of Hubei Province said on Tuesday that all six of the stations’ units were incorporated into the power grid. 
 
Located in the Gyaca County, Shannan Prefecture, the Zam Hydropower Station also known as Zangmu Hydropower Station, harnesses the rich water resources of Brahmaputra known in Tibet as Yarlung Zangbo River, a major river which flows through Tibet into India and later into Bangladesh. 
 
The dam considered to be the <a href="http://www.businessinsider.in/searchresult.cms?query=hydropower+station+">world's highest-altitude hydropower station</a> and the largest of its kind will produce produces 2.5 billion kilowatt-hours of electricity a year. 
 
According to the company, it would alleviate the electricity shortage in central Tibet and empower the development of the electricity-strapped region. It is also an important energy base in central Tibet. 
 
Investment of the hydropower station, about 140 kms from Tibetan capital Lhasa, totaled 9.6 billion yuan (about $1.5 billion). 
 
The first unit began operations last November. 
 
The problem for India does not end here as China is reportedly building few more dams. The country seeks to allay Indian fears saying that they are the run-of-the-river projects which were not designed to hold water. 
 
An Indian Inter-Ministerial Expert Group (IMEG) on the <a href="http://www.businessinsider.in/searchresult.cms?query=hydropower+station+">Brahmaputra</a> in 2013 said the dams were being built on the upper reaches and called for further monitoring considering their impact on the flow of waters to the lower reaches. 
 
The IMEG noted that the three dams, Jiexu, Zangmu and Jiacha are within 25 kms of each other and are 550 kms from the Indian border. 
 
India has been taking up the issue with China for the past few years the two countries reached an understanding in 2013. Chinese side agreed to provide more flood data of Brahmaputra from May to October instead of June to October in the previous agreements river water agreements in 2008 and 2010. 
 India is concerned that if the waters are diverted, then projects on the Brahmaputra, particularly the <keyword id="743602" type="UNKNOWN" weightage="60" keywordseo="Upper-Siang">Upper Siang</keyword> and Lower Suhansri projects in <keyword id="46408" type="COMPANY" weightage="100" keywordseo="Arunachal-Pradesh">Arunachal Pradesh</keyword>, may get affected. 
 
(Image: Indiatimes)

A reason to worry for! China operationalises biggest dam on Brahmaputra in Tibet

The government is planning to create public sector energy giants with an enomous restructuring exercise that will merge all state-run hydropower firms and transfer their thermal projects to the National Thermal Power Corporation (NTPC) to create strong companies that can take on the rapidly growing private conglomerates. 
 As per the proposal, National Hydroelectric Power Corporation (<keyword id="45180" type="CITY" weightage="100" keywordseo="NHPC">NHPC</keyword>), Satluj Jal Vidyut Nigam (<keyword id="60609" type="COMPANY" weightage="100" keywordseo="SJVN">SJVN</keyword>), Tehri Hydro Development Corporation (<keyword id="175865" type="ORGANIZATION" weightage="100" keywordseo="THDC">THDC</keyword>) and North Eastern Electric Power Corporation (NEEPCO) may be merged into one entity that will control 10,000 MW of existing and 32,500 MW of proposed capacity. 
 
The proposal has been welcomed by the executives of big firms but it also has created a flutter among the executives of smaller companies as the merger can lead to redundancies or shift a senior manager in a small firm to a comparatively lower position in the big one. It would also abolish several positions of directors and chief executives. 
 
Power Minister Piyush Goyal first discussed the proposal at a meeting on July 2 with the public sector undertakings and gave SBI Caps the nod to come up with a plan, a senior government official said. The official said NTPC and NHPC welcomed the proposal during the meeting. "SBI Caps has suggested merging the four hydro PSUs into one for increasing efficiency, better management and expertise. The power minister believes that one umbrella company will reduce costs and manage the related challenges in an efficient way," the official said.

Govt Considering To Merge All State-run Hydropower Firms

<keyword id="598784" type="UNKNOWN" weightage="100" keywordseo="Grandhi-Mallikarjuna-Rao">Grandhi Mallikarjuna Rao</keyword> will build Nepal’s largest hydropower plant. The $1.15-billion <keyword id="2525117" type="UNKNOWN" weightage="100" keywordseo="Upper-Karnali-Hydropower-plant">Upper Karnali Hydropower plant</keyword> will be the biggest private foreign investment in Nepal. 
 
The Nepal government has given its go-ahead to the proposal. The Nepalese Cabinet approved a draft agreement to allow the company to build the power plant, which would have a capacity of 900 megawatt. 
 
“This agreement would open the door for more foreign investment to enter Nepal to develop hydro power projects,” Govinda Pokhrel of Nepal’s Planning Commission said. 
 
It will take five years for the company to build the plant, and make it operational, including constructing the transmission lines. It will operate the plant for 25 years, and hand it over to Nepal at the end of the term.

GMR To Set Up A Power Plant In Nepal

In an announcement to <keyword id="35140" type="CITY" weightage="80" keywordseo="BSE">BSE</keyword> on Thursday (June 24), Jaiprakash Power Ventures, a subsidiary of Jaypee Group, said, <keyword id="1521617" type="COMPANY" weightage="80" keywordseo="Abu-Dhabi-National-Energy-Company">Abu Dhabi National Energy Company</keyword> or TAQA has withdrawn an agreement of acquiring the two hydropower plants of the company located in Karcham and Baspa areas of Himachal Pradesh.
 TAQA had announced in March, 2014 that a consortium led by it had agreed to buy the two plants valued at around Rs 9,689 crore. Analysts regard this as a major setback to <keyword id="45043" type="COMPANY" weightage="80" keywordseo="Jaypee-Group">Jaypee Group</keyword>'s debt-reduction plan. Under the deal, TAQA was to have a 51% stake, while Canada's PSP Investments 39% and <keyword id="6361420" type="ORGANIZATION" weightage="80" keywordseo="IDFC">IDFC</keyword> Alternatives 10%. <keyword id="139117" type="COMPANY" weightage="80" keywordseo="Jaiprakash-Power-Ventures">Jaiprakash Power Ventures</keyword> said the company received a notice from <keyword id="2441347" type="UNKNOWN" weightage="80" keywordseo="TAQA-India-Power-Ventures">TAQA India Power Ventures</keyword> that the company was withdrawing from the acquisition agreement signed in March due to a change in its group's business strategy and priorities. "The withdrawal makes TAQA liable to payment of break fee in terms of the said acquisition agreement," the company said its stock exchange filing. <keyword id="64711" type="CITY" weightage="80" keywordseo="Jaiprakash-Associates">Jaiprakash Associates</keyword>, the flagship company of Jaypee Group, had raised Rs 1,500 crore through qualified institutional placement (QIP) of shares in the beginning of this month. The funds raised through it will be used to repay or pre-pay certain loans, besides making investments in subsidiaries and joint ventures of the company, primarily in the cement and fertilisers space. 

	Jaypee Group has been selling assets to reduce high debt, the standalone debt of Jaiprakash Associates still stood at Rs 28,164 crore as on March 31. Its interest cost for 2013-14 almost doubled to Rs 6,094 crore from Rs 3,134 crore a year earlier. The group raised Rs 15,869 crore via sale of some power and cement assets and land parcels. This will help reduce its debt by about Rs 8,030 crore.

	(Image: Jaypee Power Vetures)

Abu Dhabi’s TAQA Scraps Off Jaypee’s Hydropower Plants Deal

<keyword id="19923700" type="General" weightage="20" keywordseo="Tata-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Power" meta.hostid="261" meta.entityid="Tata Power">Tata Power</keyword> on Tuesday said it has logged 31 per cent rise in consolidated net profit at Rs 1,189 crore, compared to the year-ago period, on back of operational efficiency. "At Rs 1,189 crore, growing 31 per cent YoY (year-on-year), the company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of generation, transmission &amp; distribution, and renewables," Tata Power said in a statement. According to the statement, these businesses contributed 84 per cent of the PAT (net profit) in Q1FY25, compared to 72 per cent in the same period in FY24. The statement showed that the consolidated net profit before exceptional items was Rs 906 crore in the quarter ended June 30, 2023. The company's revenue rose 12 per cent YoY to a record high of Rs 16,810 crore (from Rs 15,003 crore in Q1 FY24), and EBITDA grew 11 per cent to Rs 3,350 crore in the reported quarter (from Rs 3,005 crore in Q1 FY24). EBITDA refers to earnings before interest, taxes, depreciation, and amortization. "All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum," said Praveer Sinha, CEO and Managing Director, Tata Power. He informed that the planned capex for this financial year is Rs 20,000 crore and the company is committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, hydropower projects in Bhutan, and opportunities to develop small modular nuclear reactors as the government policy evolves. The company has recorded a capex investment of Rs 4,000 crore in Q1FY25. It has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is Rs 15,500 crore. Tata Power is poised to garner 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Tata Power net profit up 31% to ₹1,189 crore in June quarter

<ul class="summary-list"><li>So far this year in the EU, wind and solar generated more electricity than fossil fuels.</li><li>Renewable energy met 50% of EU's power needs while fossil fuels met 27%, an Ember analysis found.</li></ul>For the first time, wind and solar generated more of the European Union's electricity than fossil fuels during the first half of the year.Wind and solar accounted for an all-time high of 30% of the region's energy needs, <a target="_blank" href="https://l.businessinsider.com/u/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiObpcG8HAd5Khu9DzJhWI1jKQrZSU47NpvAi3EelOn56l0d-kjcJpIhHOGRZfHYlnuDelFXOzvHbD_zs0a7QOFQ8z7u9_7cynOR91rLd0fR6Y48Hj_8n7WmcpbFqdJXG3cdqOMvGV98qe4zCtc_OkLyVivBKk-WB_hlpCePc2gXJwc8tvwdRSnmvjfU6QsausQh6c5BXfLawYk6X_MAayMO_aSOuosARFTvpz-LjzzdEUhVmHRUYX32p91pIMg115ZT_g76PjqtzD-9qwfj0fvBfCad9RI72mo2hKDjo3Ot7dUR0DLeAIESJtClKTQghWwNAGbRowO8BkJ6J60d0SaMh_NbXB3bhRu531nxT078inXDLLSXUEpXJyjzCiCHJW1A%3D%3D">according to an analysis by the think tank Ember</a>. Oil, gas, and coal contributed a combined 27% of power — a 17% drop compared with the same period in 2023.It's a remarkable milestone considering that two years ago, Europe was racing to import gas because Russia cut off supplies following its invasion of Ukraine. Gas prices spiked and demand dropped. Since then, demand has started to rebound, and it's being met with renewables. Hydropower made a comeback after drought eased in certain parts of the EU, meaning that when combined with wind and solar, renewables generated half the bloc's electricity in the first half of the year."Milestones like this point towards a very clear direction of travel," Chris Rosslowe, an analyst at Ember, told Business Insider. "The question is not if, but when, renewables will dominate the European power system."The trend raises questions about the rapid build-out of gas-export terminals, known as LNG terminals, in the US and Canada to ship more fuel to Europe. Ember found that so far this year, gas generation in the EU dropped 14% compared with the same period in 2023, even as electricity demand ticked up. A mild winter helped, but the rise of renewables pushed out fossil fuels in countries like Germany, Spain, France, the Netherlands, and Belgium.<a target="_blank" href="https://l.businessinsider.com/u/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiObpcG8HAd5Khu9DzJhWI1jLkQpmfsgRzS5IVBo7tvu_7EcCA7zzwPX3K8ncAfQkkPqyCY76iHT8IQbIKGHCCQeeC7XgADeKZg0Xyn29dnhuE4vuWEYo5bKXJkbXS7iAX9l23nYkIHkLo23TdOrjzbT0jdPe6z5d3YurN21yr3NsB0kRj4D5cedKRMUqI_we8HR-dBpdMJW0r1L4u0b7GMuOjDI1nwRps5MmmhiQF1LmincNgpAlraRQaWTawJZN0gF5CEARDbZh8g9WtgTf4T-GOxX8em4736ohkB7Vf7KMJQtwd582MjhC9xFpPNEQ5T6_lpIvsgKi1R2mR3fqrCn_eBTjJ1Dcmd5LiEHfbZI8FlqlNB3bggVuS8_obXEVgnQ%3D%3D">In a separate report</a>, Ember forecasted a global LNG supply glut by 2026 and a substantial drop in EU gas demand by 2030."There was an urgent, short-term need to diversify gas supply sources in Europe when Russia invaded Ukraine," Sarah Brown, Ember's Europe program director, said. But the rush to increase LNG exports from places like the US ignores the reality of rapidly declining gas demand in Europe, she added."It is now clear that the global supply of LNG that is online and under construction far outweighs projected demand," Brown said.In 2023, the US became the largest LNG exporter in the world, surpassing Australia and Qatar, <a target="_blank" href="https://l.businessinsider.com/u/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiOV6x2Rb4s-g1bOzk-dA1nG7aUge4A5I_qX_RO_bYgXHEkukR5LwS3YASqKytZ6JRhFowRXH1zAeFmrD3iklyjfbV3pauCkyR8m44FQw_oQgkKbZZ9vDEz0utOLATGDrl5mqcvFC_xfr_1cEudsYZFJNcQSbDasZGalBGuuqKqP5MccGz5D0YkOmiWs3Xg1JSWONk0AMUJfHJXRBxDyF2XU8bBV3E6qHH8a2yfQxjehdO1G-fFLuvEiBmRBevtNW9-RsurF2cHKegBOit7QvnADbWfmt-eqSUDkwQIusi1P2TOJu7OmFWgOGct_XbniglADNo3d7Hm9x6t0JxGZlvyCA%3D">according to the US Energy Information Administration</a>. Europe is the main destination for those exports and demand is expected to rise through this year. Shipments to Asia are also growing. Five new LNG terminals are under construction in the US, and more than a dozen more could be on the way depending <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiObeUF_ZwpLGnhr0MUKMpsUyA96BruMRfPDrAZ0k9_7XgqLj_1TKZzT-pOrPIn2SECFhd6L0WgreMY3DNnHLgZnHWNRHbspKh2Y2ZdAA-EHB--kTGMeuvr8XPdZdkXRD-vpWGu1GfuYNYvBJtCdxBahYXMGtbY9byj8In6EYhDCQXuifp23eypwwkVIjMgyB10EGd4lQNwqNTsBGWlJdQRNVFywncpSehpNiWc_OoKt-AkAtzpVSUflsNCUX8OjNxDe8g5A_DRIpEqU8hOP3AIOD-l-o7j3OnBiRPO-4_2-JrLmr-v9lcXaZYsOr3FOAWtnPkuSKZbJVfLRGmupgijvEbPGhQe32FZTxU6hdVli7GLuSuZJI8jWqecv4wGE1KhnlZeNtjuLNvyAihi5VBS9c%3D">on the outcome of a Biden administration review</a> of their climate impacts.But the gas could eventually have trouble finding a home in European countries like Germany, which added the most wind and solar capacity of any EU member during the first half of the year. Germany also closed 15 coal power plants in April and imported more nuclear electricity from France.Rosslowe said that Germany's transition away from fossil fuels reflects policy decisions made several years ago. In 2021, the government set more ambitious goals to reduce greenhouse-gas emissions, including phasing out coal by 2030, and changed some permitting rules to speed up the construction of solar and wind projects.Ember's report said that while it's unclear how swiftly fossil-fuel use will drop across Europe, a pipeline of solar and wind projects suggests this tipping point could be permanent.

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