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New Delhi, India on Saturday announced the launch of the <keyword id="16473623" type="General" weightage="20" keywordseo="Global-Biofuel-Alliance" source="Orion">Global Biofuel Alliance</keyword> and urged G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20 per cent. Speaking at the G20 Summit session on 'One Earth', Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> also proposed launching the 'G20 Satellite Mission for Environment and Climate Observation' and urged leaders to commence work on the 'Green Credit Initiative'. "Today, the need of the hour is that all countries should work together in the field of fuel blending. Our proposal is to take an initiative at a global-level to take ethanol blending in petrol up to 20 per cent," he said. "Or alternatively, we could work on developing another blending mix for the greater global good, one that ensures a stable energy supply while also contributing to climate security," Modi said at the session attended by US President Joe Biden, Saudi Arabia Crown Prince Mohammed bin Salman, and UK Prime Minister Rishi Sunak among others. The prime minister said energy transition is a significant need of the 21st century world considering the challenge of climate change. He said trillions of dollars are required for an inclusive energy transition and that the developed countries play a very crucial role in this. "Along with India, all the countries of the Global South are pleased that developed countries have taken a positive initiative this year, in 2023. Developed countries have expressed their willingness to fulfil their commitment of USD 100 billion for climate finance for the first time," he said. At the Copenhagen UN climate talks in 2009, developed countries had committed to providing USD 100 billion per year by 2020 to support developing countries in combating climate change. However, the wealthier nations failed repeatedly to fulfil this commitment. The Global Biofuels Alliance, which the world's third biggest oil consumer wants to push during its G20 presidency, mirrors the <keyword id="3155010" type="General" weightage="80" keywordseo="international-solar-alliance" source="Orion">International Solar Alliance</keyword> (ISA) piloted by New Delhi and Paris in 2015 to bring clean and affordable solar energy within the reach of all. Earlier this month, Prime Minister Narendra Modi in an exclusive interview told PTI that India's proposal for a global alliance on biofuels among members of the Group of 20 major economies would help accelerate sustainable biofuels deployment in support of the global energy transition. "Such alliances are aimed at creating options for developing countries to advance their energy transitions," he had said. "Biofuels are also important from the perspective of a circular economy. Markets, trade, technology, and policy all aspects of international cooperation are crucial in creating such opportunities," Modi had said. <keyword id="53632" type="General" weightage="80" keywordseo="biofuel" source="Orion">Biofuel</keyword> is a renewable source of energy which is derived from biomass. India, which imports over 85 per cent of its crude oil needs, is gradually building capacity to produce fuel from such items as crop stubble, plant waste, and municipal solid waste. While India is on schedule to double the mixing of ethanol extracted from sugarcane and agriculture waste to 20 per cent with petrol by 2025, it is also setting up dozens of compressed biogas (CBG) plants. The Global Biofuels Alliance is aimed at facilitating cooperation and intensifying the use of sustainable biofuels across sectors, including transportation. Its focus is primarily on strengthening markets, facilitating global biofuel trade, developing concrete policy lesson-sharing and providing technical support for national biofuel programmes worldwide. Such an initiative is also aimed at helping India's transition to alternative fuels and cutting its import bill, as it seeks to achieve its net zero carbon emissions goal by 2070. On the other hand, the ISA aims to mobilise more than USD 1,000 billion of investment needed by 2030 for the massive deployment of solar energy. The <keyword id="69313" type="General" weightage="50" keywordseo="international-energy-agency" source="Orion">International Energy Agency</keyword> (IEA) estimates that global sustainable biofuel production would need to triple by 2030 to put the world's energy system on track towards net zero emissions by 2050. Liquid biofuels provided more than 4 per cent of the total transport energy supply in 2022.

G20 Summit: PM Modi announces launch of Global Biofuel Alliance

The process of the world's transition towards 'net-zero' needs to be inclusive to avoid accentuation of social inequality challenge and the 'exemplary progress' made by <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in the area is worthwhile for the global community to look at, <keyword id="6357073" type="DOMAIN" weightage="20" keywordseo="itc" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="itc" meta.entityname="ITC Ltd." meta.entityid="13554" meta.seoname="itc-ltd">ITC</keyword> Chairman and Managing Director <keyword id="1968926" type="General" weightage="50" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> said on Monday. In his address at the Business-20 (B20) India inception meeting in Gandhinagar, <keyword id="4903" type="General" weightage="100" keywordseo="puri" source="Orion">Puri</keyword> also called for collective efforts in the G-20 and global community to come together to find solutions in a collaborative fashion for a sustainable future. "The fact that the world has to transition to net-zero, the fact that the world needs to move to a more sustainable and greener future is well acknowledged and understood. However, as we all know, progress has not been adequate," Puri said at the meeting organised by <keyword id="6358345" type="General" weightage="50" keywordseo="cii" source="Orion">CII</keyword>. There are challenges, there are critical, financial and social issues that need to be addressed, to accelerate progress, he added. "It is important as we traverse this complex journey that the process is inclusive, no country, no community, no enterprise should be excluded in the process. Otherwise, the whole challenge of social inequality will only get accentuated," Puri cautioned. In this context, he said,"I think it would be worthwhile to look at the manner in which India has made exemplary progress in this area. India is on its way to deliver on the NDCs (Nationally determined contributions) that India has committed. It's in fact the only country amongst the G-20 that is in a position to do so." Whilst India has made appreciable progress through purposeful policy interventions, he said,"Equally it has recognised the need for an inclusive process. The focus on <keyword id="6358354" type="General" weightage="50" keywordseo="msme" source="Orion">MSME</keyword>, the focus on rescaling, upskilling, I think the whole India stack of digital provides the vehicles for collaboration and inclusive growth." <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata steel" meta.entityname="Tata Steel Ltd." meta.entityid="12902" meta.seoname="tata-steel-ltd">Tata Steel</keyword> CEO and Managing Director TV Narendran agreed that there was a need to move towards a sustainable future by taking along all the stakeholders. "There are millions of people who are working in the coal or the fossil fuel ecosystem. How do you, as you transition into renewable energies, rescale those workers or how do you make sure that you deal with the socio-economic consequences of the changes that we are bringing about particularly in developing countries where the socio-economic consequences are going to be immense," he said. He asserted that there are multiple areas that "we need to work on and I think there is a need for us to now get into the details and get into those milestones that we need to achieve over the next few years, even as we chase the goals that you've set for the next few decades." Puri termed the journey ahead as "complex" with focus on many areas needed and said,"it requires all of us collectively, in G-20 and the global community to come together and find solutions in a collaborative fashion while delivering our own promises." He cited the example of collaboration in the <keyword id="3155010" type="General" weightage="50" keywordseo="international-solar-alliance" source="Orion">International Solar Alliance</keyword> and said it has brought the world together to harness the power of solar energy. "Similarly, there are many other areas we need to collaborate on and put our heads together and forge ahead," Puri said adding, enterprises as large economic organs of society must lead the way. He further said,"We (enterprises) are also users of a lot of societal resources. It's good that there is greater amount of interest, better trust amongst corporates, but I think the movement needs to be made much faster, the movement needs to be made much more inclusive, much more widespread." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/b20-has-important-role-to-play-can-be-value-adding-for-world-says-n-chandrasekaran/articleshow/97244919.cms">B20 has important role to play; can be value adding for world, says N Chandrasekaran</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-plans-to-launch-at-least-five-ipos-between-2026-to-2028/slidelist/97248256.cms">Gautam Adani plans to launch at least five IPOs between 2026 to 2028</a>

Transition to net-zero should be inclusive to avoid accentuation of social inequality, says ITC CMD Puri

<ul><li><keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword>, has pledged to provide free solar energy to India and other members of the International Solar Alliance in 25 years. </li><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword>’s contracts to supply energy to <keyword id="222666" type="ORGANIZATION" weightage="20" keywordseo="ISA">ISA</keyword> countries via a power purchasing agreement expire in 25 years, after which the company would have recouped its solar energy investments. </li><li>Son’s announcement came against the backdrop of the inaugural meeting of the ISA in New Delhi.</li></ul> In a move that is bound to get more countries to sign up for the International Solar Alliance (ISA), the CEO of Softbank, Masayoshi Son, has pledged to provide free solar energy to India and other members of alliance in 25 years. Son’s remarks came on 3 October at a renewable energy conference in India’s National Capital Region. Softbank’s contracts to supply energy to ISA countries via a power purchasing agreement expire in 2043, hence the 25-year deadline. Son explained that while the lifespan of <keyword id="70990" type="ORGANIZATION" weightage="20" keywordseo="Solar-power">solar power</keyword> projects extends to 80 years, they begin operating at a 85% of their original capacity after the first five years. Hence, the bulk of earnings come in the first 25 years, after which it would become feasible to provide electricity at dramatically reduced rates since Softbank would have recouped its investment. In addition, producing solar power in India is a lot cheaper than in other countries. In June this year, NHK, a Japanese broadcaster, reported that Softbank was planning to invest upto $100 billion in India’s solar energy sector. The investment was in addition to a $20 billion deal signed in 2015, wherein the technology firm agreed to partner with Foxconn and Bharti Enterprises for some solar energy projects. The ISA was launched by Indian Prime Minister Narendra Modi in November 2015 at the UN Conference on Climate Change in Paris. Headquartered in India, the alliance has invited 121 countries situated between the Tropics of Cancer and Capricorn to sign up. However, only 70 countries have signed the ISA founding agreement, out of which 47 have ratified it. Son’s announcement came against the backdrop of an inaugural meeting of the ISA in New Delhi. UN Secretary General Antonio Guterres was in attendance. As part of his keynote speech, Modi said that he envisioned the ISA becoming an energy cartel like the <keyword id="47969" type="COMPANY" weightage="20" keywordseo="Opec">OPEC</keyword> group.

Softbank's CEO pledges to give India and other solar alliance members free power in 25 years

<ul class="summary-list"><li><a href="https://www.businessinsider.com/putin-fires-russias-space-chief-dmitry-rogozin-who-trolled-elon-musk-2022-7">Russia's top space official</a> said <a href="https://www.businessinsider.com/russia-pull-iss-2024-build-own-space-station-roscosmos-putin-2022-7">Roscosmos is pulling out of the International Space Station</a> after 2024.</li><li><a href="https://www.businessinsider.com/nasa-spacex-contract-roman-space-telescope-falcon-rocket-2022-7">NASA</a> and <a href="https://www.businessinsider.com/spacex-fly-russian-cosmonauts-iss-nasa-deal-roscosmos-space-agency-2022-7">Roscosmos</a> plan to split after the <a href="https://www.businessinsider.com/8-unforgettable-moments-on-the-international-space-station-2022-7">ISS</a>, but it's unclear when and how the partnership will end.</li></ul>Russia is talking about <a href="https://www.businessinsider.com/russia-pull-iss-2024-build-own-space-station-roscosmos-putin-2022-7">abandoning NASA</a> on the <a href="https://www.businessinsider.com/international-space-station-swerved-to-avoid-collision-with-russian-debris-2022-6">International Space Station</a>. Though the news shocked many and inspired a flurry of headlines, the threat is neither new nor particularly threatening.NASA and Russia's agreement on the ISS is up for renewal in 2024. NASA has already committed to maintaining the station through 2030, but Russia's space agency, Roscosmos, has been dubious about the partnership for years. On Tuesday, the agency's leader made an official-sounding declaration on the matter to President Vladimir Putin."Of course, we will fulfill all our obligations to our partners, but the decision about withdrawing from the station after 2024 has been made," Yuri Borisov, the new director general of Roscosmos, told Putin in a meeting, according to <a href="https://www.nytimes.com/2022/07/26/science/russia-space-station.html">The New York Times</a>."I think that by this time we will begin to form the Russian orbital station," he added. "Good," Putin said.<div type="image" title="vladimir puting and yuri borisov wearing suits sit at table in office room with wood panels" height="1666" width="2222" msid="93236003" hostid="261"></div>While space enthusiasts wrung their hands, the exchange didn't shock space-policy wonks. Borisov's predecessor, <a href="https://www.businessinsider.com/putin-fires-russias-space-chief-dmitry-rogozin-who-trolled-elon-musk-2022-7">Dmitry Rogozin</a>, who <a href="http://en.kremlin.ru/acts/news/68946">Putin fired</a> earlier this month, repeatedly made similar threats."This has been seen as coming for the past two or three years," John Logsdon, the founder of George Washington University's Space Policy Institute, told Insider, adding, "It's nothing new."NASA officials told reporters that Russia had not notified them of any new decisions."We've seen this story many times before. Color me skeptical of any immediate changes," Casey Dreier, senior space-policy advisor at The Planetary Society, <a href="https://twitter.com/CaseyDreier/status/1551963172558385152">said</a> on Twitter on Tuesday. <div type="image" title="International Space Station astronauts" height="1402" width="1869" msid="93236006" hostid="261"></div>On Wednesday, Kathy Leuders, NASA's head of human spaceflight, told <a href="https://www.reuters.com/business/aerospace-defense/russia-nasa-sticking-with-space-station-until-least-2028-2022-07-27/">Reuters</a> she'd received word from Russian officials that they intended to keep collaborating on the ISS until completing their own space station. In a Friday <a href="https://www.roscosmos.ru/38035/">statement</a>, translated by Google, Borisov predicted an "avalanche" of technical failures on the Russian segment of the ISS after 2024. At that point, it would be more economical to invest in a new Russian space station, he added."Whether it will be in the middle of 2024 or in 2025 — it all depends," Borisov said.When Russia does leave the ISS, it won't necessarily be a disaster for NASA. The agency has been preparing to operate the station without Russia for nearly a decade, as relations between the two space powers frayed."The Russian announcement is not a surprise, and reiterating their current commitment through 2024 is helpful for planning," Scott Pace, director of the Space Policy Institute, said in a written statement shared with Insider. "What comes after 2024 is still very unknown, however, and the real question is when do in-depth technical discussions begin for *how* the transition will be managed (rather then whether there will be a transition)."<h2>NASA's been preparing for a break from Roscosmos for almost a decade</h2><div type="image" title="spacewalk international space station cosmonaut Sergey Ryazanskiy" height="1275" width="1701" msid="93236008" hostid="261"></div>Roscosmos and NASA had a tense partnership from the beginning. Even as the two agencies were building the first parts of the ISS, NASA was making contingency plans. In the late '90s, Russia was behind schedule building the Zvezda Service Module that would be a core component of the station. NASA built a backup module in case Zvezda never came.A decade later, NASA became reliant on Russian hardware. When the Space Shuttle Program ended in 2011, the US could only fly its astronauts to and from the ISS aboard Russian Soyuz spacecraft.To dial back that dependence, the Obama administration started funding private development of human-rated spacecraft. The result, SpaceX's Crew Dragon spaceship, now regularly ferries astronauts to and from the ISS.<div type="image" title="nasa astronaut doug hurley spacex crew dragon spaceship capsule demo2 demo 2 mission landing splashdown stretcher thumbs up ok august 2 2020 50186691872_3d34f9f15a_o edit" height="2229" width="2972" msid="93236011" hostid="261"></div>NASA's remaining reliance on Russia is aboard the ISS itself. The station was constructed for interdependence: Russia's side relies on solar arrays in the Western section for power, and the station can't maintain altitude without regular boosts from Russian Progress spaceships, which fire their boosters to push the station a little higher about once a month.NASA is learning how to do those "orbital reboost" maneuvers with the Cygnus spacecraft developed by its contractor Northrop Grumman. It conducted a successful test of the maneuver in June, a week after an initial test attempt failed.<div type="image" title="cygnus spacecraft silver cylinder with two orange and black circular solar arrays below a long robotic arm high above brown earth with lakes" height="1531" width="2042" msid="93236013" hostid="261"></div>It's unclear what a transition to a Russia-free ISS might look like. According to Pace, the chief challenges would be orbital reboosts, replacing Moscow ground support, and figuring out what to do with Russia's modules and other ISS hardware."I am confident, without having any specific information, that the US and its partners have thought through what might be done," Logsdon said. Otherwise, they would be "derelict of their duty," he added.<h2>The US-Russia space alliance has become increasingly strained</h2><div type="image" title="rocket launches past people watching and taking photos" height="1776" width="2000" msid="93236015" hostid="261"></div>Over the years, the NASA-Roscosmos partnership has involved public spats. In 2014, Russia announced that it would <a href="https://www.vox.com/2014/5/13/5714650/russia-just-evicted-nasa-from-the-international-space-station">kick NASA off the ISS</a> by 2020 in retaliation for US sanctions over its invasion of Crimea. The threat never came to fruition.Last year, a Roscosmos official <a href="https://www.space.com/russia-blames-nasa-astronaut-soyuz-leak">accused</a> a NASA astronaut of having a mental breakdown and drilling holes into a Soyuz spacecraft in 2018. NASA firmly denied the accusations.<div type="image" title="spaceships docked to the space station above nighttime earth" height="1666" width="2222" msid="93236018" hostid="261"></div>In November, Russia <a href="https://www.businessinsider.com/russia-added-1500-space-junk-in-orbit-satelite-test-missile-2021-11">launched a missile</a> at one of its defunct satellites as a weapons test. The explosion scattered thousands of bits of high-speed debris through Earth's orbit, forcing the ISS crew to retreat to their spaceships in case they had to make an emergency exit, and drawing <a href="https://www.nasa.gov/press-release/nasa-administrator-statement-on-russian-asat-test">condemnation</a> from NASA.Tensions escalated when Russia invaded Ukraine. Rogozin, then leading Roscosmos and known for his <a href="https://www.theatlantic.com/science/archive/2019/01/nasa-roscosmos-russia-bridenstine-rogozin/579973/">inflammatory tweets</a>, got into strongly worded <a href="https://www.businessinsider.com/astronaut-scott-kelly-and-russia-space-chief-trade-twitter-insults-2022-3">Twitter arguments with former NASA astronaut Scott Kelly</a> and Elon Musk, the CEO of SpaceX, a NASA contractor. Rogozin even <a href="https://twitter.com/Rogozin/status/1496934100363587587">suggested</a> that Russia might abandon the ISS to crash into Earth.<div type="image" title="three cosmonauts pose with blue and red striped flag inside space station" height="1533" width="2044" msid="93236020" hostid="261"></div>Cosmonauts have displayed flags and imagery on the ISS supporting the Russian invasion and occupation of Ukraine, invoking a rebuke from NASA officials.<h2>The US and Russia plan to go their own ways after the ISS</h2><div type="image" title="bright moon rises in dark blue sky behind the top of an orange nasa rocket" height="1451" width="1935" msid="93236022" hostid="261"></div>Beyond the ISS, US and Russian paths diverge. NASA is funding the development of commercial space stations by three companies — Blue Origin, Nanoracks, and Northrop Grumman. Its plan is to become a customer, renting room and lab space on an orbiting station operated by a private company.Roscosmos says it's planning its own space station, but hasn't shared much detail."You could take that with a grain of salt, given their overall economic situation," Logsdon said.<div type="image" title="base camp" height="735" width="981" msid="93236025" hostid="261"></div>Both NASA and Roscosmos aim to build new space stations on the moon, but not together.NASA has established a set of agreements for the new era of lunar exploration, called the Artemis Accords, which 20 other countries signed. <a href="https://www.businessinsider.com/nasa-artemis-accords-deep-space-exploration-moon-mars-asteroids-comets-2020-10">Russia and China</a> have not signed the accords. Instead, they've said they plan to build their own base, together, on the lunar surface."I think there will be international cooperation among like-minded countries, and the addition of Russia to the International Space Station will be seen as an artifact of the politics of a particular time, and not setting a pattern for the future," Logsdon said.

Russia and NASA have been on edge for years. Threats to leave the International Space Station are no surprise.

New Delhi, Jan 28 () Togo has appointed power giant NTPC as its project management consultant (PMC) for about 300 MW of solar power projects in the West African nation, the Power Ministry said on Tuesday.
The letter of engagement of NTPC as the PMC for development about 300MW solar power projects by Togo was handed over here today by Kondi Mani, Charge d'Affaire, Embassy of Togo here, to Gurdeep Singh, CMD, NTPC, in the presence of Power and New &amp; Renewable Energy Minister R K Singh, a power ministry statement said.
Speaking on the occasion Singh said: "This (renewable) resource must be harnessed by ISA (International Solar Alliance) member countries as RE makes it possible to supply electricity to people living in far flung areas through distributed power supply model".
He underlined the importance of independent regulators, saying that under recently evolving model, prepaid smart metering helps in smooth billing and collection and the governments need not invest in the projects that developers take care.
Togo is a country in West Africa and member of the ISA. The nation has set an ambitious plan to achieve universal electricity access by 2030 with focus on capacity addition in solar power generation.
It has taken various initiatives to achieve these targets. The Country has been requesting assistance of ISA for development of solar capacity.
ISA has been taking various initiatives to assist the member countries to develop solar projects.
Presently, there are six programmes of the ISA to develop solar capacities in member countries, which include agricultural pumps, mini grids, rooftop solar, large scale grid connected projects etc.
Engagement of the NTPC by Togo for PMC, based on endorsement of ISA. NTPC had submitted a proposal to ISA requesting endorsement to member countries to give Project Management Consultancy (PMC) for implementation of solar projects.
As per the NTPC proposal, ISA member countries where solar projects are implemented through competitive bidding, the NTPC may act as a project Management Consultant (PMC).
The NTPC will carry out various activities for selection of solar project developers (SPDs) on competitive basis for setting up projects on ownership basis and enter into power purchase agreement with government-designated entities.
The PMC charges of NTPC will be recovered from the selected SPDs. The NTPC based on the feasibility, may also develop solar projects by putting own equity in countries where Feed in Tariff is in force.
Togo is the first ISA Country to avail services of NTPC. KKS KKS BAL
BAL

NTPC engaged as PMC by Togo for 300 MW solar projects

<ul><li><keyword id="44734" type="ORGANIZATION" weightage="20" keywordseo="Indian-Government">Indian government</keyword> had set a target to achieve 100 GW solar energy by 2022. However, a Crisil report said that India can achieve 70-80% of its aim. </li><li>India will need to create a platform for domestic manufacturing along with favourable policies. </li><li>India recently imposed 25% safeguard duty on imports from China and Malaysia, which also hurt Indian manufacturers. </li></ul>The Indian <keyword id="163297" type="PERSON" weightage="20" keywordseo="solar-industry">solar industry</keyword> has been shining bright over the years with the government pre-achieving its initial target of 20 GW solar energy by 2022. Now, even with a renewed target of 100 GW by 2022, it is looking increasingly unlikely the country will hit the number unless the government steps up efforts. According to a recent <a href="https://www.livemint.com/Industry/HEugjBRI2zsNDyVzB2E1kJ/India-may-not-reach-100GW-solar-power-target-by-2022-Crisil.html">Crisil report</a>, if India wants to head towards the 100 GW goal, it has to bring in policies in the <keyword id="7190005" type="UNKNOWN" weightage="20" keywordseo="interim-budget-2019">Interim Budget 2019</keyword> that will change the fate of the solar industry. Thus far, the industry has seen a favourable push by the Indian government such as the development of solar parks. But also faced setbacks with an added <a href="https://economictimes.indiatimes.com/industry/energy/power/sc-lifts-stay-on-safeguard-duty-on-solar-imports/articleshow/65759673.cms">safeguard duty</a> on solar panels imported from China and Malaysia, which is adding to the costs of the manufacturers. Platform for domestic manufacturing Specifically, India will need to reduce import duties or push the growth of manufacturing in India of solar equipment, to boost growth. “The decrease in import of solar equipment will only be possible if domestic manufacturers are given a platform, through subsidies and schemes that allow us to showcase our capabilities compete with the global best. Currently, most solar manufacturers in India have to channel their focus on competing with low quality imports at unsustainable prices, said Sunil Rathi, Director, Waaree Energies. China’s dominance in the manufacturing of solar modules has resulted in many Indian manufacturers depending on them for the implementation of solar projects in India. <a href="https://www.chinabusinessreview.com/how-china-is-forging-a-new-global-clean-energy-landscape/">In 2017, </a>Chinese solar manufacturers alone were responsible for 68% of global solar cell production and more than 70% of the world’s production of solar panels or modules. “The required financial support will help, as most solar cells are imported, adding to the manufacturers’ costs,” said Rathi. Reduced taxes Experts believe that the upcoming Interim Budget will be crucial, as it not only would help manufacturers to gauge the support that the Government plans give the sector, but also understand how it envisions the way forward for the industry. “We hope that the government continues to focus on reducing the corporate tax rate to help the country move towards a lower tax regime,” said Andrew Hines, Co-Founder, CleanMax Solar. Taxes and duties remaining stable is a big hope from Indian players. “A universal anti-dumping policy and a more stringent safeguard duty would curb an influx of low quality products, and also instil confidence within the sector,” said Rathi. Rathi added that the recent proposal regarding the Bureau of Indian Standards (BIS) Certification has been welcomed by the solar industry and will ensure quality raw materials are made available to manufacturers. It is likely to also attract more investment from players, both national and international. Rooftop solar capacity According to a report by <a href="https://bridgetoindia.com/wp-content/uploads/2019/01/BRIDGE-TO-INDIA-India-RE-Outlook-2019-1.pdf">Bridge to India</a>, the rooftop solar capacity addition in India is projected to be 2,368 GW in 2019, 49% higher than in 2018. To expand the rooftop industry to other customer segments, Hines believes that incentives could be more productively redirected to the residential and MSME segments. This could help develop those segments that are nonexistent today but have huge potential. “A transparent and consumer-friendly feed-in-tariff for residential consumers would be a great way to spur growth in this segment, but the policy should be well thought through to be effective,” said Hines. With India taking the lead along with France in the <a href="https://www.thebetterindia.com/160476/india-france-modi-solar-alliance-news/">International Solar Alliance</a>, an alliance of more than 121 countries, the government will have to make way for growth by bringing forward policies the industry wants for progress. See Also: <a href="https://www.businessinsider.in/if-indias-solar-energy-is-cheaper-than-coal-why-isnt-the-industry-thriving/articleshow/65605221.cms">If India’s solar energy is cheaper than coal, why isn’t the industry thriving?</a> <a href="https://www.businessinsider.in/indias-solar-installations-see-a-big-drop-after-years-of-strong-growth/articleshow/67121559.cms">India's solar installations see a big drop after years of strong growth</a> <a href="https://www.businessinsider.in/niti-aayog-india-renewable-energy/articleshow/52359002.cms">Niti Aayog to promote India as renewable energy hub, output to be hiked fourfold</a>

India’s solar power producers are awaiting a ray of hope

<ul><li>India plans to achieve 100 gigawatts of <keyword id="6357019" type="ORGANIZATION" weightage="20" keywordseo="solar-energy">solar energy</keyword> capacity by 2022. </li><li>Imports from China, Taiwan and Malaysia comprise more than 80% of solar panels and cells used by power producers in India. </li><li>India needs to support domestic manufacturers of solar cells and modules. </li></ul>As Prime Minister Modi inaugurated the International Solar Alliance’s first summit on March 11th, he reiterated his aim to make India a solar energy powerhouse. With 33 countries in attendance, Modi also unveiled a credit line of $1.4bn for 27 <keyword id="70990" type="ORGANIZATION" weightage="20" keywordseo="Solar-power">solar power</keyword> projects in around 15 countries. Modi was instrumental in forming the alliance. The ISA — which now boasts the membership of 121 countries located between the northern and southern tropics — will be headquartered in the Indian city of Gurgaon, on the outskirts of Delhi. The overall goal of the alliance is to create a 1000 gigawatts of solar energy capacity by 2030 by mobilising $1trn worth of investments. However, India’s leadership hinges on the government’s target to achieve a domestic renewable energy capacity of 175 gigawatts by 2022, 100 gigawatts of which is earmarked from the solar energy sector. But can it meet this target? India has made significant progress so far by facilitating the construction of a number of plants, rooftop systems and solar parks across the country. It has secured financing from multilateral institutions like the World Bank and introduced regulations for the procurement of solar power through auctions. According to the Central Electricity Authority, its total renewable energy generation stood at 62.8 gigawatts at the end of January 2018. Solar energy generation counted for 17.1 gigawatts. This represents a near doubling in total solar production since the end of 2016. However, there is a catch. This growth has been enabled by the imports of cells and panels from countries like China. India does not have the domestic manufacturing capacity to meet its solar targets. Imports from China, Taiwan and Malaysia comprise more than 80% of solar panels and cells used by power producers in India. Domestic manufacturers don’t have the requisite scale, technologies and supply chain efficiencies to compete with their east Asian competitors and have hence clamoured for government intervention. A looming 70% anti-dumping duty on solar equipment made in these countries threatens to drive prices up for producers and distribution companies, scare foreign investors and lead to project delays or cancellations. The end result? India won’t be able to meet its solar energy target. It is therefore critical for India to support domestic manufacturers of solar cells and modules. In December 2017, the Ministry of Renewable Energy released a concept note with a list of steps to boost the competitiveness of local manufacturers. These included a 30% subsidy for the construction or expansion of manufacturing facilities, cheap financing, customs exemptions for heavy machinery and a local sourcing requirement scheme in government projects. The government will have to go further if it wants to reduce its dependence on solar cell imports. The proposals outlined mainly entail the subsidising of local production along with discrimination against foreign manufacturers. In addition to improving transmission infrastructure, the government needs to invest in industrial training programmes and support innovation by providing domestic manufacturers with research and development (R&amp;D) incentives. It can also subsidise the production of upstream raw materials like polysicons and wafers that are necessary for the manufacturing of cells and panels. The International Solar Alliance can help in this regard. It will enable the sharing of technologies between member countries and plug resource gaps. India must therefore leverage its leadership of the group to its advantage.

India needs to support domestic manufacturers in order to achieve its solar energy targets

While industrial growth triggered by the first leg of economic liberalisation in early nineties led to a sea change in India’s social fabric over the last couple of decades, <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">aviation</keyword> stands apart as a sector that is capable of fuelling drastic changes in terms of <keyword id="47276" type="UNKNOWN" weightage="20" keywordseo="Economic-growth">economic growth</keyword>. 
 In fact, for more than 40 years since independence, Indian aviation was a public sector monopoly, with <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword> and <keyword id="1446" type="CITY" weightage="20" keywordseo="indian-airlines">Indian Airlines</keyword> as the two only operators serving the domestic and international market respectively. Liberalisation changed this for better as air taxi operators were allowed to serve the domestic market. While many private airlines entered and exited, a few players including Jet Airways survived the initial turbulence. 
 
The government’s decision to deregulate international air traffic in 2004 allowed private Indian carriers to extend their services to international routes. Leveraging positive policy ambience, airlines such as IndiGo and SpiceJet carved a niche for themselves by adopting a low-cost business model. 
 A few factors such as foreign direct investment (<keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword>) in domestic airlines, low-cost carriers (LCC), information technology (IT) interventions and a rising need for regional connectivity have pushed the growth in the domestic aviation space. 
 
These have catapulted the size of Indian aviation to $16 billion, making it one among the top 10 aviation markets in the world and leading to bullish outlook among industry watchers. “The new entrants have now better business models to keep the business sustainable,” says Charles Dhanaraj, professor of Strategy and Global Leadership at IMD, Lausanne, Switzerland. 
 In terms of additional passengers per year, India is expected to be among the top five air domestic travel markets globally by 2034, according to the <keyword id="6407098" type="ORGANIZATION" weightage="20" keywordseo="International-Air-Transport-Association">International Air Transport Association</keyword> (IATA). 
 Aircraft movements, passengers and freight at Indian airports are expected to grow at 4.2 %, 5.3% and 5%, respectively, for the next five years, according to estimates by <keyword id="54875" type="ORGANIZATION" weightage="20" keywordseo="Airports-Authority-of-India">Airports Authority of India</keyword> (AAI). “A major underexploited opportunity is the domestic freight transport. 
 
There is increasing potential for moving high value goods domestically through air freight where there will be more movement in the coming years,” says Charles. 
 
Investment galore Significant growth in FDI inflows and a slew of government initiatives provided fodder for the sector’s transformation. FDI inflows in air transport during April 2000 to November 2014 stood at $543 million, as per data released by Department of Industrial Policy and Promotion (DIPP). Recent investments from private players include IndiGo’s order for 250 A320neo airplanes from Airbus for $25.5 billion; AirAsia’s plans to add 10 more aircraft to its fleet by end of 2015, taking its total fleet to 15 aircraft; <keyword id="137192" type="ORGANIZATION" weightage="20" keywordseo="Star-Alliance">Star Alliance</keyword> plans to turn New Delhi’s T3 and Mumbai’s T2 Terminals into hubs; and the pact signed by Vistara, the airline by the Tata Group-Singapore Airlines (SIA) alliance, with SITA for aircraft communications, airline operations and network connectivity. According to Charles, the entry of Vistara and the growing interest of the foreign investors to be part of the growth of Indian aviation will propel the system. 
 
Government initiatives 
The government, which has been bullish about pushing the sector’s growth, has projected that around 500 airports would be required by 2020. It has already approved the construction of five budget airports to improve regional connectivity and work on them will start from FY15 and launched tourist visa on arrival (TVoA) enabled by electronic travel authorisation (ETA) to 43 countries besides plans to privatise national airline Air India. Also, the Ministry of Civil Aviation also plans to list Airports Authority of India and Pawan Hans on the stock exchanges. 
 
The private sector is sought to be involved in a big way through the PPP model, with significant state support in terms of financing, concessional land allotment and tax holidays. 
 
Air Costa is one of the carriers that aim to leverage the expected growth in air transport between tier 2 and 3 cities. “We aim to tap the burgeoning tier II market by stimulating growth through better air connectivity to the tier I cities. Our choice of Embraer aircraft (E170 with 67 seats and E190 with 112 seats) complements this vision. From operating two Embraer aircraft to 4 destinations with 300 employees, we have grown to 4 aircraft serving 9 destinations with close to 750 employees within a year,” says Air Costa CEO Capt. KN Babu. 
 
Economy, Trade and Tourism 
The aviation sector meets growing transportation needs of consumers—airlines registered in India carry 50 million passengers and 1.1 million tonnes of freight a year to, from and within India; more than 130,000 international flights depart India annually destined for 70 airports in 50 countries; domestically, more than 664,000 flights make 89 million seats available to passengers annually, destined to 73 airports. It also offers better connectivity—for instance, daily, there are 8 flights between Delhi and Dubai and more than 59 flights from Delhi to Bombay. The sector makes significant contribution to Indian <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> and provides millions of jobs. 
 
Among customers of airlines serving Indian airports, 76 per cent are local residents who get an economic benefit estimated to be worth INR 832 billion annually. 
 
This is in addition to the long-term benefits to the economy. Through investments and use of advanced technology, the aviation sector generates more gross value added (GVA) per employee than the economy as a whole, raising the overall productivity of the economy. 
Benefits are also accrued to the economy through the growth of ground-based infrastructure including airport facilities and the aerospace manufacturing space. 
 
Air transport lies at the heart of Indian tourism. Through its speed, convenience and affordability, air transport has expanded the possibilities of travel for tourists and business travelers alike, allowing an ever greater number of people to experience diversity of culture. 
 
Tourism, both for business and leisure purposes, makes a large contribution to the Indian economy, with foreign visitors spending over Rs 548 billion in the Indian economy each year. Around 89% of these visitors arrive by air, which means foreign visitors who travel by air spend approximately Rs 488 billion. 
 
Considering air freight makes up 34.6% of the value of global trade, aviation also provide a huge fillip to trade in the country. 
 
Hampering environment 
However, the growth of aviation happens at the cost significant damage to the environment, including contribution to global warming. Aviation contributes to climate change by altering the composition of atmospheric gases. In addition to CO2, emissions from aviation combustion processes comprise NOx, SOx and VOC which pollute the fabric of atmosphere. 
 
According to Intergovernmental Panel on Climate Change (IPCC), CO2 emissions will grow 2.8% annually between 2000 and 2050 and are projected to make up 16% of total transportation carbon emissions, pointing to the need for a shift towards solar powered aircrafts in the long run. IPCC also calculates the climate impact of aviation to be 1.96 times that of CO2 impact. In addition to its contribution to climate change, aviation hampers ambient air quality, affecting public health. This is besides the negative environmental impact of noise pollution contributed by the growing number of aircraft. 
 
Against the background of Modi government’s Land Acquisition Bill, which aims to ease the process of acquisition of land for industrial purposes, land acquisition for the proposed airports too will prove to be a tough nut to crack both politically and economically. 
 
While the government's decision to allow airlines to import jet fuel will help airlines cut fuel costs by up to 20 per cent, lack of infrastructure at the hands of local airlines to import fuel directly would mean domestic carriers continuing to pay heavy federal and state taxes for buying fuel from domestic oil firms, adding to the debt pile-up of airlines most of which are losing money. 
 
There are also concerns about supporting infrastructure and taxation. “There is a huge need for up gradation of the airports at tier 2 cities where the major growth should happen, “ says Charles. “There is still scope for improvement in the airport infrastructure. Another concern is over-taxation – central and state taxes on fuel and maintenance as well as service taxes on air tickets are likely to hamper growth,” says Ramesh Lingamaneni, chairman of Air Costa. 
 
However, the clear silver lining is the expected growth in the number of aircraft as well as domestic and international passengers from India. This projected growth, along with India’s low air traffic density—72 compared with 282 in China and 2,896 in the US—signals a huge untapped potential, considering rising disposable income levels and the burgeoning young population. 
 
As IATA CEO Tony Tyler put it, the world is focused on Indian aviation – from manufacturers, tourism boards, airlines, global businesses to individual travellers, shippers and businessmen. Consensus among these stakeholders, right policies and focus on quality, cost and passenger interest will transform India to one of the largest aviation markets within a couple of decades. 
 
Image: thinkstock

Why India is likely to emerge one of the largest aviation markets

<ul><li>The central <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> has instructed the <keyword id="1937268" type="ORGANIZATION" weightage="20" keywordseo="Solar-Energy-Corporation-of-India">Solar Energy Corporation of India</keyword> (SECI) to release a tender to add 1,000 MW of solar energy capacity every month from November 2018 to February 2019 in order to meet its targets. </li><li>The tenders, if successfully bid for by developers, will add 4,000 MW to the already existing capacity of 25,000 MW in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. </li><li>As a result of the muted response to previous auctions, SECI will incentivise developers to bid by increasing <keyword id="6357464" type="UNKNOWN" weightage="20" keywordseo="tariff">tariff</keyword> rates and extending project timelines. </li></ul>As it heads into election year, the central government is wary of underperforming on its solar energy mandate. As a result, it has instructed the Solar Energy Corporation of India (SECI), a company housed under the Ministry of New and <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">Renewable Energy</keyword> to facilitate the government’s solar energy projects, to release a tender to add 1,000 MW of solar energy capacity every month from November 2018 to February 2019, according <a href="https://indianexpress.com/article/business/business-others/govt-asks-solar-energy-corp-to-bring-tenders-of-4000-mw-5452661/">to the Indian Express</a>. The tenders, if successfully bid for by developers, will add 4,000 MW to the already existing capacity of 25,000 MW in India. However, going by <a href="https://energy.economictimes.indiatimes.com/news/renewable/developers-still-reluctant-to-bid-for-solar-power-assets/66687042">the muted reaction</a> to recent manufacturing-linked tenders, it remains to be seen if anyone will bid for them. Why is the interest in these tenders waning? It seems that the lack of certainty regarding the demand for solar energy doesn’t justify the investment required. In June 2015, the Indian government announced that it planned to add <a href="https://www.business-standard.com/article/economy-policy/cabinet-revises-solar-power-target-to-1-lakh-mw-by-2022-115061700668_1.html">100,000 MW</a> of solar energy capacity by 2022. What seemed an ambitious target at the time became a lot more realistic over the next few years as a number of solar power projects were commissioned and India undertook the stewardship of <a href="https://unfccc.int/news/international-solar-energy-alliance-launched-at-cop21">the International Solar Alliance</a>. However, in the last year, there has been a significant slowdown in the solar energy sector. Imports of solar panels from China, which are used in 80% of solar power projects in India, have been getting more expensive because of the falling rupee and a reduction in subsidies from the Chinese government to the solar energy sector. Funding from banks has also dried up as the sector becomes less of a safe bet. All that means is the upcoming auctions will be crucial to get India’s solar energy ambitions back on track. And SECI knows that it has to adequately incentivise developers to bid. It has, therefore, <a href="https://economictimes.indiatimes.com/industry/energy/power/terms-of-10-gw-solar-tender-unlikely-to-be-relaxed/articleshow/66628663.cms">increased the tariff rates</a> for solar energy developers to sell their products to distribution companies. It has also extended timelines for the implementation of projects. If the next few tenders fail to attract sufficient bids, it might have to do away with the process of capping tariff rates entirely and even permanently relax <a href="https://www.thehindu.com/business/Industry/centre-imposes-25-safeguard-duty-on-import-of-solar-cells/article24565771.ece">the 25% duty imposed</a> on imports of Chinese solar panels and modules. SEE ALSO: <a href="https://www.businessinsider.in/softbanks-ceo-pledges-to-give-india-and-other-solar-alliance-members-free-power-in-25-years/articleshow/66065755.cms">Softbank's CEO pledges to give India and other solar alliance members free power in 25 years</a> <a href="https://www.businessinsider.in/if-indias-solar-energy-is-cheaper-than-coal-why-isnt-the-industry-thriving/articleshow/65605221.cms">If India’s solar energy is cheaper than coal, why isn’t the industry thriving?</a> <a href="https://www.businessinsider.in/india-needs-to-support-domestic-manufacturers-in-order-to-achieve-its-solar-energy-targets/articleshow/63280197.cms">India needs to support domestic manufacturers in order to achieve its solar energy targets</a>

India may have a tough time meeting its solar energy capacity targets as developers steer clear of government auctions

<div class="KonaFilter image-container display-table full"><div><div class="image on-image"></div></div></div>Never doubt the power of interns. If you let them, they'll do their job - and build the world's largest amateur rocket.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Just for fun.That's what United Launch Alliance (ULA) and Ball Aerospace <a href="http://www.ulalaunch.com/intern_rocketlaunch.aspx">interns</a> have been doing for the <a href="http://www.space.com/33552-record-breaking-student-built-rocket-launch.html">past five years</a>, according to Space.com. More than <a href="http://gazette.com/video-world-record-rocket-launches-from-fort-carson/article/1581094">350 people</a> helped build the rocket, including 300 interns.On Sunday, their rocket, called the Future Heavy, lifted off from Fort Carson, Colorado, climbing a stack of smoke to 10,000 feet before returning to Earth. (That's quite a distance away from <a href="http://www.techinsider.io/where-does-space-begin-2016-7">the edge of space</a>, but still pretty darn impressive.)Before it launched, Future Heavy clocked in at <a href="http://gazette.com/video-world-record-rocket-launches-from-fort-carson/article/1581094">50 feet and 1,245 pounds</a>, making it the largest sport rocket ever launched.But just because it was built for fun doesn't mean it doesn't have <a href="http://www.prnewswire.com/news-releases/united-launch-alliance-and-ball-aerospace-interns-colorado-students-participate-in-record-setting-launch-300303055.html">scientific payloads</a> on it.Ball Aerospace interns created four payloads for Future Heavy. The rocket also carried <keyword id="41551" type="ENTERTAINMENT" weightage="100" keywordseo="science">science</keyword> experiments designed by Colorado grade school students. That includes a solar physics experiment created by kindergartners.In addition to Future Heavy, ULA and Ball Aerospace interns have been building smaller rockets for <a href="http://www.ulalaunch.com/intern-rocket-past-launches.aspx">almost a decade</a>.Just so you can grasp how big the rocket actually was, here's a photo of the whole team with their towering, record-breaking creation:<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Watch the rocket launch in the video below.<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/nasa-rocket-booster-mars-test-space-2016-6">Watch NASA ignite the rocket booster that will take humans to Mars</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hhbnFmNDE6Y2FXUQWRyRQrSi0CqBbU1X" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

What did your interns do last week? These ones just built and launched a 50-foot-tall rocket

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.

You Searched For "international solar alliance" and got 12 results

G20 Summit: PM Modi announces launch of Global Biofuel Alliance

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Transition to net-zero should be inclusive to avoid accentuation of social inequality, says ITC CMD Puri

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Softbank's CEO pledges to give India and other solar alliance members free power in 25 years

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Russia and NASA have been on edge for years. Threats to leave the International Space Station are no surprise.

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NTPC engaged as PMC by Togo for 300 MW solar projects

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India’s solar power producers are awaiting a ray of hope

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India needs to support domestic manufacturers in order to achieve its solar energy targets

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Why India is likely to emerge one of the largest aviation markets

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India may have a tough time meeting its solar energy capacity targets as developers steer clear of government auctions

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What did your interns do last week? These ones just built and launched a 50-foot-tall rocket

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

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Big banks promised to protect the planet. Now they're doing an about-face.

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