India’s vision is to achieve Amrit Kaal or ‘Golden Era’ by 2047. This is interpreted as improving living conditions for all through profitable growth, along with infrastructural and technological advancements in the next 25 years. However, the World Development Report 2024 (WDR) pours cold water over India’s ambitions, pointing out that at current trends, India will need 75 years just to reach one quarter of US per person incomes. The WDR identifies the middle-income trap as the key challenge and assigns most of the blame for digging the trap on middle-income countries. India, currently classified as a lower middle-income country, faces the question: Can it overcome this trap to achieve the Golden Era in 25 years? Will the energy transition enable India to bypass the middle-income trap, or will it become the trap?
Addressing more than 100 middle income countries (MICs), which is home to 6 billion people, the WDR proposes a 3i strategy to get out of the middle-income trap: investment followed by new technology infusion in the middle-income phase, and attention to innovation in the upper-middle income phase. The WDR observes that countries trap themselves in the middle-income slot because they stop with the investment phase and compromise on institutional, economic and political freedom. The WDR calls on MICs to substitute their quest for structural efficiency addressed through firm size, income inequality and energy use with the quest for efficiency in the use of the factors of production: capital, labour and energy (rather than land). In the 1870s, the neoclassical marginalist counter-revolution, also called for subtracting both distributional equity and economic development to leave only allocational efficiency in economics. Clearly, this is not a sustainable position in the real world, where democracies have to strive for distributional equity, even if it is at the cost of efficiency.
In the context of energy, the WDR has a long litany of shortcomings of MICs that supposedly contribute to high carbon emissions. The WDR proposes that MICs will need to use a combination of energy intensity (energy consumed per US dollar of GDP) and carbon intensity (carbon emissions per unit of energy) reduction to reduce carbon emissions. It observes that MICs have a greenhouse gas (GHG) intensity of GDP that is 3.5 times higher than that of high-income countries and that this difference supposedly reflects both the misallocation in the use of energy with the energy intensity of GDP also 2.5 times higher than in high-income countries and the lower diffusion of low-carbon energy technologies.
Blaming misallocation in the use of energy in MICs ignores history. Energy use patterns in MICs is the result of exploitation by high-income countries (then labelled the North), which drained resources and capital from the South (now MICs). This left the South (then low income) in a state of underdevelopment in the late ninetieth and early twentieth centuries, and in a state of delayed industrialisation in the twenty-first century. For example, in India, delayed industrialisation is underwritten mostly by coal, as it is abundant, and secure for the nation, and affordable for the impoverished population. Polluting industries moved out of the global North into the South after the publication of the report on Limits to Growth in 1972, by the Club of Rome, highlighting the need for ecologically sustainable development. This increased both energy and carbon intensity of the global South.
To decouple emissions from economic growth, the WDR recommends disciplining incumbent companies, rewarding merit (including dispatch of energy), and de-risking investments in low-carbon energy. The report argues that disciplining incumbent firms will increase energy efficiency and decouple emissions from economic growth. To facilitate adoption of energy-saving technologies, the WDR recommends competition or market contestability. The report cites the case of Georgia, where markets with a higher concentration have lower energy efficiency. It also cites Argentina where firms with a higher share of skilled workers are better able to adopt advanced green technologies. In general, the report points out that exporting countries have lower carbon emissions intensity. The report assigns special credit to South Korea, which was able to move from middle-income to high-income status in 25 years through export driven growth.
The report observes that when incumbent companies are disciplined through higher energy prices, it will reduce energy intensity. This is true in India, where all industries, including incumbents pay high tariff for electricity, which has forced them to become energy efficient and also pushed them to adopt renewable energy (RE) sources. Higher energy prices have been fully compensated for by higher efficiency in many heavy industries in India, as highlighted in the report.
Recommending carbon pricing, the report suggests adopting the concept of total carbon price (TCP), that includes a combination of direct and indirect carbon pricing instruments, including energy excise taxes and fuel subsidies. Though not labelled TCP, India has used high excise and sales tax on petroleum products to raise revenue, which has yielded the unexpected benefit of curtailing oil use and limiting carbon emissions. Petroleum product prices in India are among the most expensive in the World in purchasing parity terms. Taxes, royalties, and other levies imposed on domestic coal often make domestic coal more expensive than imported coal in India. Taxes and levies on petroleum products contribute to decreasing the total cost of ownership of electric vehicles (EVs) compared to internal combustion vehicles, and high taxes on coal contribute to lowering the levelized cost of electricity (LCOE) generated by RE sources relative to the LCOE of power generated by coal.
The report argues that the most efficient way to scale up the efficient provision of low-carbon energy is to respect the merit order. Merit order is the system of grid operators who dispatch power, starting with the cheapest with the lowest running costs, followed by others in ascending order. The price at any point in time determines wholesale market prices. According to the WDR, any power supplier who offers RE at zero marginal cost (low or insignificant operating costs) should have priority in meeting demand. While there is merit in the use of merit order dispatch of electricity and in the use of LCOE - both of which are important in attracting investment in RE - the fact that both overlook the cost of back-up and cost of integration. The presence of RE power in the market reduces the need for higher-cost plants to generate, so market prices fall. However, this does not reflect any decline in long-term costs. RE generators generally have higher overall costs than the conventional generation they replace.
It is true that cost of capital for low-carbon energy, such as solar photovoltaic and wind, in MICs is twice that in high-income countries. The report points out that cost of capital averages 3.8 percent in high-income countries, but 7.2 percent in upper-middle-income countries and more than 8.5 percent in lower-middle-income countries, reflecting higher technological, market, political and regulatory risks. In general, weighted average cost of capital can account for 20–50 percent of the LCOE from utility-scale solar PV projects. In Brazil and India, the cost of capital oftens accounts for 50 percent of the LCOE of solar PV. Reduction of risks will definitely make RE projects less expensive and, in turn, reduce public finance needed to underwrite these projects. In India, RE power generators are offered long-term power purchase agreements (PPAs) that offers revenue security, which in turn reduces borrowing costs.
The WDR blames state-owned incumbents in power generation and distribution, common in MICs, for lower share of RE in power consumption and also for the lower share of EVs in transportation in MICs compared to high-income countries. While this is partially true, the large component of subsidies that underwrites uptake of RE and EVs in high income countries is simply unaffordable in MICs.
In India, media commentary around annual budget provisions make causal links between the size of allocation (for example for investment in low carbon energy) and the outcome (net zero or decarbonisation of the grid). This suggests that there is overemphasis on investments rather than on infusion of technology or on facilitating innovation. But, embedded inefficiency is not the reason, as alleged in the WDR. It is because infusion of new technologies and innovation through generous subsidies, as it is the case in the global North, is difficult for the global South. High debt and higher borrowing costs makes the choice between ambitious climate actions, whose payoffs lie in the long-term future, and addressing pressing current concerns, whose political costs and consequences lie in the present.
The North, representing about 1.3 billion people (16 percent of the global population), emitted about 12.5 billion tonnes (BT) of carbon dioxide in 2023, accounting for about 33 percent of total global carbon emissions—a disproportionate share. Until recently, energy consumption growth and carbon emissions in the North was assumed to have peaked, but the development of artificial intelligence (AI) has raised the prospect of energy consumption growth reviving in the North. This is driving the North to discipline the South by invoking guilt (of inefficiency) to accelerate carbon reductions. However, without financial support from the North, higher domestic spending on carbon reductions and the energy transition by the South will come at the cost of spending on soft infrastructure (health, education). A fragmented energy transition will deepen the middle-income trap. Getting out is likely to become difficult – especially as the global North is building trade walls against products from the South, even if they are green. The golden era for millions of Indians will move further into the future.
Source: World Development Report 2024, World Bank
Rajasthan Chief Minister (CM) Bhajanlal Sharma has approved the proposal to allot 4,780 hectares of land to develop four solar projects. The move is a step towards making the state self-reliant in energy domain. As per the proposal, 4,780 hectares has been allotted to Rajasthan Solar Park Development Company to set up three solar parks of 2,450 megawatt (MW) in Bikaner district and about 910 hectares to NTPC Renewable Energy to set up a solar project of 500 MW in Phalodi district. Through these projects, an investment of about INR100 billion will be made in the state. Two solar parks of 1,000 MW each, and one of 450 MW will be set up in Bikaner district. Approval has been given for allotment of about 1,881 hectares in village Surasar of Pugal tehsil for the first solar park. Likewise, for the second solar park of 1,000 MW, 2,000 hectares will be allotted, of which 1,194 hectares are in Surasar, and about 807 hectares are in Bhanavatawala village. Approval has been given for allotment of 900 hectares in Sardarpura village to set up the third solar park of 450 MW in Bikaner. These solar parks will be developed by Rajasthan Akshay Urja Nigam in three phases under the Solar Park Scheme of the Ministry of New and Renewable Energy (MNRE). It can be completed in the next two years. The CM has approved the allotment of 910 hectares in Bhadla village of Phalodi district to NTPC Renewable Energy for setting up a 500 MW solar project. The solar projects will also play an important role in environmental protection and will reduce carbon emissions by about two lakh tonne annually.
In a significant step towards enhancing green energy generation in the state, Assam Chief Minister (CM) Himanta Biswa Sarma laid the foundation stone for a 25 MW solar power generation project at the premises of the Namrup Thermal Power Station in Dibrugarh district. A joint venture between the Assam Power Generation Corporation and Oil India Limited, the project will span 108 acres and is expected to cost INR1.15 bn (US$13.7 mn). Approved by the State Cabinet on 19 August 2022, the project is projected to produce 50 MU of electricity annually, with construction expected to be completed by July 2025. The CM highlighted that, to date, seven solar power projects are operational in the state, accounting for 175 MW of daily power generation. He said that upcoming power plants in Sonitpur district’s Barchalla and Dhubri district’s Khudigaon are at various stages of development, and the construction of a 1,000 MW capacity solar power plant in Karbi Anglong will begin shortly. Additionally, the 120 MW Lower Kapili Hydropower project has started generating electricity. The CM expressed confidence that the state will be able to produce around 3,000 MW of solar-generated electricity by 2030.
Himachal Pradesh Chief Minister (CM) Sukhvinder Singh Sukhu laid the foundation stone of 10 MW solar power project at Aghlor in Kutlehar assembly constituency of Una district. The solar plant will be constructed in an area of 19 hectares, this project would be completed within three months and would generate 22.73 million units (MU) power annually and an annual income of INR80 million (mn) (US$0.96 mn). He said that this was the second solar power project in Una district after 32 MW Pekhubela project which was completed within a record time of six months and would generate income of INR200 mn. He said the state government has signed an agreement with the Oil India Company for production of green hydrogen and emphasis was being laid on harnessing solar energy. The government was also encouraging harnessing solar power in the private sector as well and the target had been fixed to harness 200 MW solar energy in one year. He said that the state was getting only 12 percent royalty in hydro power projects which was not sufficient. Although SJVNL wanted to install solar power project at Aghlor but the state government decided to commission it at its own. The government was resolute to manage finances for various developmental projects and make them self-reliant, he said.
The Central Railway has installed a floating solar plant of 10 megawatt peak (MWp) capacity in the Igatpuri lake located in the Western Ghats, a first-of-its-kind initiative by the Indian Railways. According to the Central Railway, the plant is committed to leveraging renewable energy sources, utilising solar power, installing wind-energy resources, providing adequate passenger amenities and contributing significantly towards the railways’ goal of a “green Earth”. Besides, the Railway said moving towards its ultimate goal of zero carbon emission by 2030, the Central Railway has commissioned 12.05 MWp solar plants by utilising the rooftop of railway stations and buildings, out of which, 4 MWp solar plants were provided last year.
The Power Transmission & Distribution (PT&D) vertical of Larsen & Toubro (L&T) has won a domestic order to build a grid-connected 185 MW Solar PV (photovoltaic) Plant along with a Battery Energy Storage System (BESS) having multitudes of MWh capacity. According to the company’s project classification, the value of the order ranges between INR10 bn to INR25 bn (US$298 mn). The Solar PV plant at Kajra in Lakshisarai district will be a key element in Bihar’s plans to harness renewable energy for sustainable energy solutions towards combating climate change and meeting demand growth.
According to Moody’s Ratings, India will have to invest as much as US$385 billion (bn) to meet its target of 500 GW of renewable energy by 2030, but coal will remain a key source of electricity generation for the next decade. India, a major greenhouse gas emitter, aims to ramp up non-fossil fuel capacity set by 50 GW each year to help meet its 500 GW target. It missed its target of 175 GW by 2022. Rating agency estimates an annual capacity addition of around 44 GW will help achieve that target. For that, India will have to spend US$190 bn to $215 bn on capacity over the next six to seven years and another US$150 bn to US$170 bn for transmission and distribution, the credit ratings agency estimates. India’s strong policy support has boosted the renewable energy share to around 43 percent in its power capacity mix in fiscal 2023-24, attracting private sector investments. Adani Group, through Adani Green Energy, aims to generate 45 GW of renewable power by 2030 as it strives to become the country’s first integrated renewable energy player. Continued policy backing will facilitate significant progress toward India’s 2030 transition and 2070 net-zero targets however, despite the steady growth in renewable energy, most of which will likely be solar power, the rating agency expects coal will play a significant role in electricity generation for the next eight to ten years.
According to US-based Mercom Capital, open access solar installations rose two-fold in India to 1.8 GW during January-March this year supported by several factors, including reduced module cost. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. India added over 1.8 GW of solar open access capacity in the first quarter of the calendar year of 2024, posting a two-fold increase from 909.3 MW in Q4 2023. As of March 2024, the cumulative installed solar open access capacity stood at 14.3 GW. Solar open access developers benefited from lower Chinese module prices and the suspension of the Approved List of Models and Manufacturers (ALMM) order for projects commissioned through March 2024. In Q1 2024, Rajasthan led solar open access capacity additions, accounting for almost 28 percent followed by Andhra Pradesh and Maharashtra with 21 percent and 12 percent of capacity additions, respectively. The pipeline of solar open access projects under development and in the pre-construction phase was over 18 GW as of March 2024. Almost 74 percent of pipeline projects were in Karnataka, Rajasthan, Maharashtra, Tamil Nadu, and Andhra Pradesh.
Waaree Energies has secured a solar module supply contract for a 412 MWp project in Rajasthan. It will supply bi-facial solar modules with capacities ranging from 540-545 Wp (watt peak) each for the project, expected to be commissioned by March 2025. Waaree Energies is among India’s leading manufacturers of solar photovoltaic (PV) modules.
The Union cabinet, chaired by Prime Minister (PM) Narendra Modi, approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects, with a total outlay of INR74.53 bn (US$889 mn). The VGF scheme is a major step towards implementing the National Offshore Wind Energy Policy, which was notified in 2015. The commissioning of 1 GW offshore wind projects, upon successful completion, is expected to generate approximately 3.72 billion units of renewable electricity on an annual basis. This clean energy production will contribute to a significant reduction in greenhouse gas emissions, amounting to 2.98 million tonnes of CO2 equivalent per year, over a span of 25 years. Moreover, the implementation of this scheme will serve as a catalyst for the development of offshore wind energy in India.
The Odisha government approved investment proposals worth INR9.03 bn (US$107.7 mn) in the renewable energy (RE) sector. The panel approved the proposal of HPCL Renewable & Green Energy Ltd to set up a 48 MW wind energy project at Umerkote in Nabarangpur district, while ONGC Tripura Power Company Ltd got the go-ahead to develop a 49.5 MW wind energy project in Astaranga in Puri district. The total investment for these two wind energy projects stands at INR8.81 bn. Till date, the SWC of Energy Department has approved investment proposals totaling INR37.23 bn with 499.48 MW capacity in the sector.
Suzlon Energy has secured a 103.95 MW order from AMPIN Energy Transition to supply 33 wind turbines with a rated capacity of 3.15 MW each. Suzlon will install 33 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each at the clients site in the Fatehgarh district in Rajasthan, the firm said. Suzlon Energy is engaged in the business of design, development, manufacturing and supply of wind turbine generators (WTGs). Suzlon Energy (SEL) is India’s largest renewable energy solutions provider with presence in 17 countries across six continents.
Punjab Power Minister announced the recommissioning of the 10 MW biomass-based power plant in Jalkheri village of Fatehgarh Sahib, highlighting its environmental and economic benefits for the state. Owned by the Punjab State Power Corporation Limited (PSPCL), the plant was originally commissioned in June 1992 and remained operational till July 1995. It was given on lease to Jalkheri Power Plant Limited (JPPL) in July 2001. The plant was recommissioned in July 2002 and remained operational till September 2007. In 2012, efforts were made to restart the project by licensing a private developer to run it for a specific period by giving it on lease. In 2018, the plant was re-tendered to be leased out.
Gruner Renewable Energy (Gruner) has announced plans to construct Asia’s largest compressed biogas (CBG) plant in Navsari, Gujarat. The project, which will cost an estimated INR2.20 bn (US$26.3 mn), aims to produce 44 tonnes of biogas daily, translating to an annual production of over 16,000 tonnes. The plant will leverage a variety of cost-effective feedstocks, including paddy, pressmud, canetrash, and municipal solid waste (MSW) in collaboration with an unnamed ‘leading’ business conglomerate. The use of diverse biomass and waste materials not only provides a renewable energy source but also tackles waste management issues, converting potential pollutants into valuable resources. This approach aligns with India’s broader goals of promoting green energy and sustainable waste management practices. The successful development of the Navsari CBG plant could serve as a model for similar projects across India, enhancing the country’s renewable energy capacity. In addition to the Navsari project, Gruner has secured multiple contracts worth INR15 bn (US$180 mn) for developing CBG plants with a total production capacity of 88,000 tonnes per annum. These projects are spread across various states including Uttar Pradesh, Madhya Pradesh, Orissa, Gujarat, Maharashtra and Andhra Pradesh. Earlier this year, Indraprastha Gas Limited announced the establishment of 19 CBG plants across Delhi, Haryana, Rajasthan and Uttar Pradesh. These plants are expected to produce around 0.45 million metric standard cubic metres per day (mmscmd) of biogas from waste, amounting to roughly 5 percent of IGL’s daily requirements.
Indian Biogas Association (IBA) is demanding a fixed rate of INR90 per kilogram (kg) for procurement of biogas by oil and gas marketing companies, from the government. The IBA will soon put up the suggestion about fixing the procurement price of the biogas, along with other recommendations, for boosting the sector before the newly appointed Union Ministry of New and Renewable Energy. According to IBA, while the retail selling price of CBG is aligned with CNG (compressed natural gas), the procurement price is unfortunately linked to the retail selling price (RSP) of CNG. Consequently, with CNG prices in New Delhi hovering at INR75-80 per kg, the procurement price of CBG by oil and gas marketing companies falls to INR59 per kg (excluding GST). As per the association, the current offtake price of CBG is pegged to a discounted retail price of CNG, which is counter-intuitive, considering the critical need to prioritise climate change mitigation. The association suggested that to incentivise biogas producers and accelerate industry growth, the government needs to establish a more efficient and rational pricing mechanism.
India’s nuclear power generation capacity is likely to rise by around 70 percent over the next five years, reaching 13.08 gigawatt (GW), with the installation of seven new nuclear reactors. India currently has 24 nuclear reactors. The country has been developing a 220 megawatts (MW) pressurized heavy water reactor (PHWR), utilising the Bharat Small Reactor (BSR), for captive nuclear power generation. There are ongoing efforts on the 220 MW Bharat Small Modular Reactor (BSMR), which seeks to replace the Calandria with a pressure vessel using light water-based reactors.
Argentina began removing solar panels that were installed by accident on the wrong side of its shared border with Chile, after a complaint from Chilean President Gabriel Boric. In late April, the Argentine Navy inaugurated a maritime surveillance post on the border with Chile, in the Patagonia region of South America. But the solar panels, which provide energy to that military unit, were set up on the Chilean side of the frontier.
A two-year US (United Sates) tariff holiday on solar panels from Southeast Asia expires, starting the clock ticking for American project developers to use the huge amount of equipment they stockpiled duty-free over that period by the end of this year. The dynamic could result in a mini-boom in already red-hot US solar installations, while also annoying the nascent domestic manufacturing industry which is keen to see developers make the switch to American-made gear. US solar developers accumulated around 35 GW of imported panels in US warehouses since President Joe Biden lifted the duties on Malaysia, Thailand, Cambodia and Vietnam in 2022 to help speed domestic projects to fight climate change, according to energy advisory firm Clean Energy Associates. That is nearly as much solar capacity as the US will install during all of 2024, according to research firm Wood Mackenzie.
The US could revive some of its recently retired nuclear power plants to help meet rising demand for zero-emissions electricity, or add reactors to existing sites, Energy Secretary Jennifer Granholm said. The administration of President Joe Biden believes nuclear power is critical to meeting greenhouse gas reduction goals and decarbonizing the economy by 2050 to fight climate change, but the industry has been hindered by the high cost of new construction. The Department of Energy’s Loan Programs Office (LPO) in March issued a US$1.52 bn conditional loan to Holtec International to reopen the shut Palisades reactor in Michigan, which could become the first nuclear plant in the country to restart after being shuttered. The plant, which closed in 2022, now needs approval from the Nuclear Regulatory Commission, which oversees nuclear safety. Granholm said US nuclear energy capacity could also be expanded in a cost-effective way by building new reactors at existing sites. She said about 30 power plant sites across the US have been licensed or permitted for the construction of more reactors.
Chinese electricity company SPIC announced a 780 mn reais (US$147.41 mn) investment in construction of two new wind farms in Northeastern Brazil, while making its debut in the country’s solar sector, with two large parks beginning operations. The company is diversifying its portfolio and aiming to become one of Brazil’s three largest energy generators. SPIC's new wind farms, to be built in Rio Grande do Norte state, will have a combined installed capacity of 105.4 MW to be sold on the free energy market. Construction work is expected to begin by January 2025 and operations should start the following year. New solar parks were inaugurated in Piaui and Ceara states, totaling 738 MWp of power.
Europe has clocked a record number of hours of negative power prices this year due to a mismatch between demand and supply as solar power generation soars, potentially helping to shift investment to much needed storage solutions. Strong hydro and nuclear power generation has played some part in the oversupply, but Europe has seen a massive expansion of solar power. Installed solar capacity in the European Union more than doubled to 263 GW between 2019 and 2023, according to SolarPower Europe data. In 2023 alone, that is equivalent to an extra 306,000 solar panels being installed every day.
Germany’s solar power installation rose by 35 percent year-on-year in the first four months of 2024, boosted by a rise in industrial, commercial and ground-mounted photovoltaics demand, solar power association BSW said. Since Russia’s invasion of Ukraine and the sudden drop in Russian fossil fuel exports to Germany, Berlin has introduced several pieces of legislation to accelerate solar power expansion, part of Berlin’s plan to cover 80 percent of its energy needs from renewables by 2030 and to become climate neutral by 2045. New solar power capacity grew by more than five GW in the first third of this year, as 56 percent of businesses and over 60 percent of real estate owners in Europe’s biggest economy are interested in investing in solar power systems, BSW said. BSW said it expects a double-digit percentage growth in installations and solar storage capacity in 2024, meeting the government targets of 19 GW of new annual capacity to reach 215 GW, or 25 percent of its domestic electricity consumption, by 2030.
Bavaria will make use of laws that allow it to buy more than 85 hydropower plants from Uniper, in the southern German state, its premier said, undermining the nationalised utility’s plans to boost renewable energy. Uniper has hydropower plants, opens new tab in Germany and Sweden. It operates 99 river plants in Germany, mostly in Bavaria, according to its website. While its main revenue source is still its natural gas business, the Duesseldorf-based utility aims to grow in renewable energy.
Spain needs to add wind energy capacity at a much faster pace or it risks missing its ambitious 2030 target, the US-based Global Energy Monitor (GEM) think-tank said in a report. Renewable energy is breaking records in the country, generating more than half of its electricity last year. Wind power was the main contributor, accounting for almost a quarter of the electricity produced. With roughly 30 GW of installed wind capacity Spain is a European leader, behind only Germany, according to Spanish wind lobby AEE. However, local opposition in some regions and licensing bottlenecks have weighed on the deployment of new wind farms. Roughly 1.7 GW worth of wind parks are under construction, according to the GEM report, meaning that Spain is already more than halfway through its end-of-decade goal of 62 GW.
The Dutch government has awarded permits for offshore wind farm development totalling 4 gigawatt (GW) off the west coast of the Netherlands, in the largest wind tender in the country so far. Swedish energy company Vattenfall and clean energy fund manager Copenhagen Infrastructure Partners (CIP), through a joint venture called Zeevonk, were chosen to develop a 2 GW wind farm called IJmuiden Ver Beta. British firm SSE Renewables, via a consortium also including Dutch pension fund ABP and its asset manager APG, can proceed with their bid for a 2 GW site called IJmuiden Ver Wind Farm Alpha, the company said.
China Three Gorges Renewables plans to invest US$11 bn (80 bn Chinese yuan) in a huge integrated power project in China with solar, wind, and coal power capacity plus a storage facility. China Three Gorges Renewables, a unit of the biggest hydropower producer in the country, China Three Gorges, plans the 16 GW energy complex in the Inner Mongolia region in northern China, the company said. The project in Ordos City has already been approved by the Chinese authorities as one of the new large energy bases and will feature 8 GW of solar power installations, 4 GW of wind power capacity, another 4 GW of coal-fired power, and a 5 gigawatt hour (GWh) energy storage. The project is slated for construction to start in September 2024, with the power supply expected to be connected to the grid by June 2027, according to the plans. China is pursuing rapid expansion of its renewable energy capacity, but it isn’t ditching coal. The world’s second-largest economy leads in global renewable investments and installations and has a dominant role in many of the clean energy supply chains, including solar equipment, lithium processing, and mining and processing of other critical battery metals. China has already reached its goal to have more non-fossil fuel installed electricity capacity than fossil fuels earlier than planned, with 50.9 percent of its power capacity coming from non-fossil fuel sources. Back in 2021, the Chinese authorities said they would target renewables to outpace fossil fuel-installed capacity by 2025.
Chinese solar panel manufacturers said they are seeking immediate government intervention to curb investment and industry collaboration to arrest a plunge in prices of solar cells and modules, as the industry faces overcapacity. Financial incentives and a government push have helped China become the solar panel factory of the world, accounting for about 80 percent of global module capacity. Analysts expect Chinese manufacturers to add up to 600 GW this year, enough to meet global demand through 2032. Between June 2023 and February 2024, at least eight companies cancelled or suspended more than 59 GW of new production capacity, equivalent to 6.9 percent of China's total finished panel production capacity in 2023, according to the China Photovoltaic Industry Association (CPIA).
The World Bank has approved an additional loan of US$1 bn for cash-strapped Pakistan to support the China-backed Dasu hydropower project in the restive Khyber Pakhtunkhwa province. The Dasu hydropower project, situated approximately 300 km north of Islamabad in the unruly Khyber Pakhtunkhwa province, is being developed by China Gezhouba with funding from the global lender and has endured at least two deadly terrorist attacks targeting Chinese nationals involved in its construction. The World Bank said it has approved US$1 bn additional financing for the DASU Hydropower Stage I (DHP I) Project. The World Bank said upon completion, the hydropower plant will have an installed capacity of 4,3205,400 MW.
8 July: The Congress in Kerala said the Central government’s reported directive to LPG (liquefied petroleum gas) consumers to complete a “mustering process” at gas agencies has caused difficulties for many, especially senior citizens and women. In a letter to Union Petroleum and Natural Gas Minister Hardeep Singh Puri, Leader of the Opposition in the Kerala Assembly V D Satheesan said the current system has resulted in long queues and inconvenience for consumers at gas agencies. He suggested setting up a special system at the ward level and Akshaya Centres to ease the process.
5 July: Commerce and Industry Minister Piyush Goyal has directed PESO to formulate template of safety measures to allow petrol pumps to operate in areas with habitation within 30-50 metres. Petroleum and Explosives Safety Organisation (PESO), a subordinate office under DPIIT, plays a pivotal role in administering regulatory frameworks established under the Explosives Act, 1884 and Petroleum Act, 1934. The Minister announced 80 percent concession for women entrepreneurs and 50 percent for MSMEs in licensing fees for licences granted by PESO. The Minister said that QR code for cylinders is incorporated in the draft Gas Cylinders Rules (GCR) and final notification will be out soon.
8 July: After Delhi, CNG (compressed natural gas) price in Mumbai has been hiked by INR1.50 per kilogram (kg) and the rate of cooking gas piped to houses by INR1 due to rise in input costs. Mahanagar Gas Ltd, which retails CNG to automobiles and piped natural gas to households for cooking purposes in Mumbai and surrounding cities, said the increased prices will come into effect from the intervening night of 8 and 9 July. To "partially offset the increase in gas cost", MGL has increased the delivered price of CNG by INR1.50 per kg and domestic PNG by INR1 per standard cubic meter (scm) in and around Mumbai. Accordingly, the revised delivered prices inclusive of all taxes of CNG will be INR75 per kg and domestic PNG (piped natural gas) price will be INR48 per scm in and around Mumbai. Indraprastha Gas Ltd, the city gas license holder for the national capital and adjoining cities, hiked CNG price by INR1 per kg to INR75.09 in Delhi. It, however, had not touched PNG rates, which continue to be priced at INR48.59 per scm.
8 July: MAN Industries said it has secured a pipe supply order worth INR18.50 billion from an international oil and gas player. This order entails supplying API 5L grade line pipes for an offshore LNG project through competitive international bidding, MAN Industries said. The delivery of the line pipes is scheduled over the next 12 to 18 months. MAN Industries will supply SAW pipes for this project. With this, the company’s order book will surpass INR40 billion.
3 July: Gujarat Gas Ltd hiked the prices of industrial natural gas for the Morbi region in Gujarat. Morbi houses India’s largest ceramic clusters, and the increased cost is expected to hit profits. The prices of industrial natural gas have been raised by INR2 to INR2.48 per standard cubic meter (SCM) from Thursday. Officials from Gujarat-government-owned entity said the prices were hiked as the prices of natural gas in the international markets have been increasing since April. Ahead of the Lok Sabha elections in the country earlier this year, Gujarat Gas had reduced the prices of industrial natural gas by 8 percent for ceramic manufacturers of Morbi and Suredranagar in Gujarat. The industrial gas prices for Minimum Guaranteed Offtake (MGO) contract has been raised from INR41.68 to INR43.68 per SCM, while the prices of non-MGO contracts have been raised from INR49.36 to INR51.79.
9 July: The union power ministry has directed the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) to reduce coal imports from 6 percent to 4 percent for this fiscal year. An official order in this regard is expected soon. This is expected to reduce the financial burden of the power utility, as according to officials, domestic coal (including the cost to transport) is at least INR2,000 lesser per tonne than the imported coal. With TANGEDCO’s annual coal requirement at 223.4 lakh tonnes, a 2 percent reduction in purchase of imported coal would mean the power utility’s purchase will come down by roughly 4.5 lakh tonnes this financial year.
8 July: India will import coking coal from Mongolia on a trial basis from later this month, as New Delhi seeks to diversify imports of the key steelmaking raw material to cut over-reliance on Australia. Steelmakers including JSW Steel and Steel Authority of India (SAIL) are poised to receive coking coal shipments from Mongolia after months of negotiations. JSW Steel is expected to receive around 30,000 metric tonnes of coking coal from Mongolia and SAIL is likely to get 3,000 to 5,000 metric tonnes. For JSW Steel, this would be the second such shipment after 2021, when India’s biggest steel maker bought 8,000 metric tonnes of coking coal from Mongolia. The supplies would come to India via Chinese ports, but Indian authorities do not think New Delhi should entirely rely on China for steady supplies of coking coal from Mongolia. India is trying to figure out alternate routes for the supplies of Mongolian coking coal to India. Indian mills have asked the government to step in and help work out the routes that would ensure regular supplies of coking coal from Mongolia, which offers superior grades. Some Indian companies are also looking at either acquiring or leasing coal and copper assets in Mongolia. Indian steel companies consume around 70 million metric tonnes of coking coal annually, and imports constitute around 85 percent of the country’s total requirements. During the first half of 2024, Russia emerged as India's third-biggest supplier of coking coal by selling it 3.3 million metric tonens, data from commodities consultancy BigMint showed.
9 July: Chhattisgarh Congress staged dharna across the state to protest against a hike in the electricity tariff by the BJP government and submitted memorandums to the officials concerned at all development blocks headquarters. State Congress president Deepak Baij said that in the last six months, Chhattisgarh, a state with surplus electricity, has become a centre of power cuts. During the summer, when demand increased, electricity was purchased from other states to ensure a 24-hour supply to the common people during the Congress rule.
7 July: With a rise in the number of fire incidents in summer months in the national capital, power regulator Delhi Electricity Regulatory Commission (DERC) has proposed that residential buildings that are over 15 metres high will have to obtain a no objection certificate of the fire safety department for getting an electricity connection. DERC has mooted authorising discoms (distribution companies) to disconnect power supply of buildings to be demolished by the civic agencies. The DERC issued a notice for amendments to the DERC (Supply Code and Performance Standards) Regulations, 2017. in exercise of the powers conferred "by Section 57 read with Section 181(2)(za) of the Electricity Act, 2003 (Act 36 of 2003)". As per Regulation No 10(7) of the principal regulations, the discoms may disconnect the supply of electricity in case a direction or order for demolition of the premises is passed by a Court, or DDA or MCD or Competent Statutory Authority, the notice said. Further, Regulation 10 (8) stipulates that in case the dwelling Unit is above the height of 15 meters without stilt parking or is above the height of 17.5 meters with stilt parking, the electricity connection will not be provided unless the fire clearance certificate from the competent authority has been obtained and has to be produced when asked for by the discom. DERC has published the draft DERC (Supply Code and Performance Standards) (Sixth Amendment) Regulations, 2024 seeking suggestions and objections from the stakeholders including general public.
4 July: Damodar Valley Corporation (DVC) has signed an agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL) to supply 600 MW (megawatt) of power from its upcoming Raghunathpur Phase II plant in West Bengal. The Centre has approved the power purchase agreement (PPA), which aims at addressing the increasing electricity demand in the western state.
3 July: Uttarakhand has been allotted 100 megawatt (MW) additional power supply from the central pool. It will help the state overcome the gap between demand and supply of electricity, it said. There will be no power cuts even during peak hours. Chief Minister (CM) Pushkar Singh Dhami had met Union Power Minister Manohar Lal Khattar recently seeking allocation of additional electricity from the central pool for Uttarakhand.
3 July: India’s power sector is experiencing a significant surge in demand, with projections indicating that peak power consumption could reach an unprecedented 260 gigawatt (GW) during September or October this year. This marks a 20 percent increase in just two years, necessitating potential revisions to the National Electricity Plan (NEP) 2022-27, revealed Power Secretary Pankaj Agarwal. Agarwal said that the current NEP might need updating to address the new demand forecasts, with the government now anticipating the country’s peak power demand to hit 400 GW by 2031-32, exceeding the previously projected 384 GW. In May, India's peak demand already reached 250 GW, surpassing last year’s peak of 243 GW recorded in September 2023. This rapid increase is attributed to rising per capita consumption, which has been growing at an average rate of almost 7 per cent over the past five years, from 184 GW in 2019-20.
9 July: The Rajasthan government aims to produce 30 gigawatt (GW) of solar power by the end of FY25 to become self-reliant in the power and energy sector. Chief Minister (CM) Bhajan Lal Sharma’s objective is to enhance the state’s energy security by reducing dependency on imported fuels and supporting the vision of self-reliant India. Recently, the government approved land for four major solar projects to make the state a leader in energy self-sufficiency. The projects include three solar parks in Bikaner totaling 2,450 megawatt (MW) and a 500 MW project in Phalodi. Rajasthan is one of the leading states in the country in solar energy production, with an estimated output of 142 GW. Owing to the state’s rising electricity demand, which is increasing by 8-10 percent every year, the government’s focus is to obtain 43 percent of power consumption from solar energy by 2030. Last year, the state installed 15,195 MW solar power plants. The state is also strengthening the PM Kusum Solar pump plant, which will help install solar pumps in more than 50,000 farms and generate 200 MW of electricity during the next couple of years.
4 July: India’s solar power generation grew at the slowest pace in six years in the first half of 2024, an analysis of data from the federal grid regulator showed, as the country further stepped up reliance on coal to address surging power demand. Solar power generation in the third-largest producer of electricity from the sun rose to 63.6 billion kilowatt hours (kWh) in the first half of 2024, the data showed, up 14.7 percent compared with the same period last year and 18.5 percent in the calendar year 2023. India expects total electricity generation during the fiscal year ended March 2025 to grow at the fastest pace in over a decade, forecast to be mainly powered by an 8.9 percent growth in coal-fired power output, outpacing renewable energy growth of 8.2 percent. Analysts expect renewable generation to grow faster from the next fiscal year, as tendering and commissioning of green energy projects have started picking up steam. Moody’s unit ICRA expects renewable energy installations to rise by over a third to 25 gigawatt (GW) this fiscal year ending March 2025.
4 July: Coal India Ltd arm Northern Coalfields Ltd (NCL) said it has entered into a pact with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) for installation of additional Solar Power capacity of 250 MW in Uttar Pradesh. This pact will pave the way to set up a 100 megawatt (MW) floating solar power plant and 150 mw ground mounted solar power plant for NCL. NCL chairman and managing director B Sairam reiterated the company’s commitment to become net-zero and adopt renewable sources of energy for sustainable mining. He said that with this initiative, NCL will not only align its vision with Coal India and the coal ministry but also demonstrate its commitment to cooperate in reducing carbon footprints and fostering green energy in line with the nation’s vision. NCL has already commissioned a 50 MW ground mounted solar power plant in Madhya Pradesh. NCL will become a net-zero company with this concrete step meeting its requirement of about 290 MW energy.
4 July: The Centre has given in-principle consent to TUECO, a joint venture of UJVN Limited and THDC India Ltd, to set up a coal-based thermal power plant in Uttarakhand. The Central Electricity Authority had previously recommended the supply of coal to Uttarakhand for the purpose of generating 1,320 MW of thermal power under the SHAKTI policy. The central government has given in-principle consent to the establishment of thermal power plant through TUECO. According to the SHAKTI policy, Coal India Ltd Limited can allow the supply of coal to the production companies of the central and state governments and their joint ventures at notified rates.
3 July: SECI, a nodal agency for implementing government’s renewable energy projects, is expected to float a tender for 500 megawatt (MW) of solar thermal capacity by the end of FY25, its chairman and managing director (CMD) R P Gupta said. This will be the first time in India that such a tender would be floated on this scale, Gupta said. The earlier tenders were small in size and their costs were also too high, he said. The projects under the 500 MW tender will have advanced technology where steam would be generated through heat and it would also help in running turbines, he said.
3 July: New Delhi Municipal Council (NDNC) has approved a proposal for procurement of 200 megawatt (MW) solar power to meet the deficit of electricity. The NDMC held its council meeting and approved various proposals in the agenda items placed before it. The council accorded the approval to proposal for procurement of 200 MW solar power through Solar Energy Corporation of India (SECI) available in its ISTS Tranche-XI for allocation on long term basis for a period of 25 years. The tariff of supply as discovered through Tariff-based Competitive Bidding (TBCB), based on the Standard Bidding Guidelines (SBG) issued by the Ministry of Power is INR2.61 per kilowatt hour (kWh) + INR0.07 per kWh SECI’s trading margin, it said. NDMC member Kuljeet Singh Chahal said the council has made arrangement of electricity for 525 MW per day from different sources – solar system, hydro plants, and other plants. Chahal said the NDMC is procuring 100 MW electricity from the Delhi government’s Bawana and Himadir plants of the Pragati Power Corporation Limited-I and III, respectively.
8 July: Brazilian oil company Petrobras announced its first gasoline price hike in almost a year, and also hiked the price of gas used for cooking and heating. The oil giant announced it will boost gasoline prices for distributors by 7 percent starting. The announcement marks the first Petrobras gasoline price tweak since Magda Chambriard replaced Jean Paul Prates as chief executive officer (CEO) in May. The company last raised gasoline prices 16 percent last August as global oil prices surged. In October, Petrobras cut gasoline prices by 4 percent. Last year, Petrobras ditched a more market-based pricing policy in favor of one that gave it more flexibility to smooth out price swings. Analysts at Goldman Sachs wrote in a note to clients that the price paid by gasoline distributors in Latin America's biggest economy will still be about 14 percent lower than market prices.
5 July: A number of fuel stations were closed across Pakistan following a strike called by petroleum dealers against a new taxation measure introduced by the government to boost revenue and cover its financial shortfall. The Pakistani government has set a challenging revenue collection target to help clinch an International Monetary Fund bailout but faces public anger over new taxes, including taxes on dealers, which were introduced in the annual budget last month. Pakistan Petroleum Dealers Association (PPDA) said it was too soon to give statistics on the number of pumps on strike. The petroleum ministry said that regulators and oil marketing companies (OMCs) have been advised to ensure that their sites remain operational with sufficient stocks of petroleum products to minimize the impact of strike.
4 July: Russia’s oil producers Rosneft and Lukoil will sharply cut oil exports from the Black Sea port of Novorossiisk in July, as the companies resumed operations at their refineries. Combined Novorossiisk oil loadings by Rosneft and Lukoil in July will fall by some 220,000 barrels per day (bpd) compared to last month, calculations based on market data showed. Russian government decided to continue with unrestricted gasoline exports in July, extending the waiver for a partial ban on overseas fuel sales, as Russia’s domestic oil plants produce enough oil products to meet peak seasonal demand despite a spate of Ukrainian drone attacks on refineries. Rosneft oil exports from Novorossiisk are set to fall to 0.62 million metric tonnes in July from 1.06 million tonnes in June, while its Tuapse refinery is set to resume crude runs. Russia’s overall oil exports and transit from its western ports in July are expected to decline from June amid higher refinery runs and Moscow’s pledge to stick to OPEC+ output cuts.
9 July: United States (US) natural gas production will decline in 2024 while demand will rise to a record high, the US Energy Information Administration (EIA) said. EIA projected dry gas production will ease from a record 103.8 billion cubic feet per day (bcfd) in 2023 to 103.5 bcfd in 2024 as several producers reduce drilling activities after gas prices fell to 3-1/2-year lows in February and March. In 2025, EIA projected output would rise to 105.2 bcfd.
9 July: Shell decided to proceed further with the development of the Manatee gas field in Trinidad, as it looks to strengthen its liquefied natural gas (LNG) business. The gas field will allow Shell to expand, opens new tab its integrated gas unit by building on development efforts in the East Coast Marine Area, one of the Caribbean nation's most prolific gas-producing areas. The Manatee field is part of the cross-border Loran-Manatee discovery, shared by Trinidad and Venezuela. It holds some 10 trillion cubic feet (tcf) of natural gas, with 7.3 tcf on Venezuela’s side and the remaining 2.7 tcf in Trinidad. The gas field will provide backfill for Trinidad's Atlantic LNG facility, Shell said, as it aims to grow its LNG business by 20 percent to 30 percent by 2030 from 2022 levels. The LNG liquefaction volumes are planned to grow by 25 percent to 30 percent.
9 July: Austria’s Energy Minister Leonore Gewessler has appointed a commission of experts to examine whether Austria can scrap a gas-supply contract between OMV and Gazprom to reduce its dependence on Russia, she said. Leonore Gewessler of the Greens, which is the junior partner in a conservative-led coalition, said in February she wanted to end the contract that runs until 2040. Chancellor Karl Nehammer’s conservatives have said they agree Austria needs to move away from Russian gas. In May, the latest month for which data is available, 90 percent of net gas imports came from Russia. Gewessler said OMV had agreed to grant members of the commission access to the contract, the terms of which are a closely-guarded secret.
9 July: Bulgarian state gas company Bulgargaz EAD has started arbitration proceedings against Russia’s Gazprom Eksport OOO, seeking compensation of €400 million (US$432.76 million) for breach of contract in 2022, the company said. The Bulgarian company launched proceedings before the Arbitration Court of the International Trade Chamber in Paris as the Russian company failed to respond to its invitation to settle. Last year, Gazprom suspended Bulgargaz’ long-term contract, which covered 90 percent of the quantities of natural gas delivered by Bulgargaz to customers. Gazprom stopped supplying natural gas to Bulgargaz in late April 2022.
5 July: Brazilian industry representatives will travel with President Luiz Inacio Lula da Silva to Bolivia, in a bid to obtain natural gas that should become available after expiration of a supply deal to Argentina. Argentina has a supply contract with state-run Bolivian oil firm YPFB set to expire in September. Then, a volume of up to around 4 million cubic meters per day could become available, said the representatives. Bolivia has faced a foiled military coup against the government, and the country’s diminishing domestic oil and gas output has been at the heart of its economic and political problems. Brazilian industry has a demand for around 40 million cubic meters of gas per day. Brazil’s industry has long faced issues with high gas prices. Lowering gas prices is a priority for Brazil’s Energy Minister Alexandre Silveira.
5 July: Australia’s east coast could face gas shortages from 2027, a year earlier than initially forecast, the country’s competition regulator said, as it called for an urgent need to develop new sources of production and supply. The Australian Competition and Consumer Commission (ACCC) said in an interim update that the warning reflects potential lower supply due to delays in approvals for new projects. The ACCC warning came in two weeks after Australia’s energy market operator said the east was facing an immediate gas shortage following a cold snap that drove up demand for heating. Meanwhile, supply dipped due to an extended outage at the region’s main gas plant. Australia produces more gas than it needs to meet its domestic demands, but most supply is contracted for export.
5 July: Abu Dhabi National Oil Company (ADNOC) has earmarked a 40 percent stake in its Ruwais liquefied natural gas (LNG) project to four energy majors Shell, TotalEnergies, BP and Japan’s Mitsui. The four companies are expected to get a stake of 10 percent each in the project which will more than double UAE’s output of the sea-borne fuel and is expected to produce about 9.6 million metric tonnes per annum (mtpa) by late 2028.
9 July: United States (US) power consumption will rise to record highs in 2024 and 2025, the US Energy Information Administration (EIA) said. EIA projected power demand will rise to 4,123 billion kilowatt hours (kWh) in 2024 and 4,198 billion kWh in 2025. That compares with 4,000 billion kWh in 2023 and a record 4,067 billion kWh in 2022. With growing demand from artificial intelligence and data centers and as homes and businesses use more electricity for heat and transportation, EIA forecast 2024 power sales would rise to 1,504 billion kWh for residential consumers, 1,418 billion kWh for commercial customers and 1,052 billion kWh for industrial customers. That compares with all-time highs of 1,509 billion kWh for residential consumers in 2022, 1,391 billion kWh in 2022 for commercial customers and 1,064 billion kWh in 2000 for industrial customers.
6 July: Germany said it will launch the first tender for the construction and modernisation of 12.5 gigawatt (GW) of gas power plants that can switch to hydrogen by the end of 2024 or early next year, following industry pressure. The plans include two tenders for building new hydrogen-ready gas power plants, each round of 5 GW capacity, in addition to 2 GW tenders for retrofitting old gas power plants for the use of hydrogen, 0.5 GW of long-term storage and 0.5 GW for fully-hydrogen-powered plants, the economy ministry said. Germany won the European Union’s informal approval to pay billions of euros to subsidise the power plants.
3 July: Ukraine’s state energy company Naftogaz increased its domestic gas production and pumped more gas into underground storages to prepare for cold winter months amid a severe power crisis, its chief executive officer (CEO) Oleskiy Chernyshov said. Since March, Russian missile and drone attacks knocked out about half of Ukraine’s available generation capacity and forced rolling blackouts across the country despite lower levels of consumption in the summer. Ukraine’s energy industry is rushing with repairs. Officials, cities and businesses also want to create more decentralized power generation, including by using gas turbines.
8 July: Global hydroelectric generation slumped to a five-year low last year as a result of lower-than-average rainfall across China, North America and India, contributing to record fossil fuel combustion and emissions in 2023. Global hydro generation amounted to 4,240 billion kilowatt hours (kWh) in 2023 down from a record 4,359 billion kWh in 2020, according to the Statistical Review of World Energy published by the UK Energy Institute. The slump over the last three years has been the largest on record, forcing the world’s biggest producers to revert to coal and gas-fired power plants to replace lost generation, amplifying the upward trend in fossil fuel burning. But hydro is set to rebound this year thanks to higher rainfall and snow melt in key areas, which will combine with rapid deployment of wind and solar power to curb growth in fossil fuel use in 2024. Global hydro generation is highly concentrated, with two-thirds occurring in just seven countries - China (30 percent), Brazil (9 percent), Canada (9 percent), the United States (6 percent), Russia (5 percent), India (4 percent) and Norway (3 percent). China’s generation fell by a massive 96 billion kWh in 2023 compared with three years earlier, accounting for 80 percent of the generation lost worldwide, according to the Statistical Review.
8 July: South Africa’s New Energy Minister Kgosientsho Ramokgopa vowed to accelerate the shift to renewable energy from coal, breaking with a predecessor who opposed swift decarbonision and pledged to keeping burning coal for a long time. Owing to its reliance on coal-fired power stations run by state provider Eskom, South Africa is among the world’s top 15 greenhouse gas emitters - pushing out more than Britain, Turkey or France - and has the highest carbon intensity among the Group of 20 largest economies, according to watchdog Climate Transparency. With 400,000 square kilometres (about 150,000 square miles) of semi-desert and a vast coastline battered by strong winds, South Africa also has some of the world's most abundant renewable energy potential.
5 July: Norway is seeking to form a stronger partnership with Indonesia and explore investment opportunities in renewable energy such as hydropower, and carbon capture and storage, Energy Minister Terje Aasland said. While Norway aims to achieve net-zero greenhouse gas emissions by 2050, it also continues to explore and develop new oil and gas fields, including in the Arctic’s Barents Sea, to maintain output that is expected to peak in 2025. Norwegian companies can contribute their experience in hydropower and carbon capture and storage (CCS) in Indonesia to reduce emissions in the country, he said. Storage capacity at Norway’s first CCS project Northern Lights will be ready this year, and is on track to start capturing carbon dioxide from a cement plant in Brevik next May, he said. Norway aims to give exploration permits for seabed mining in the Arctic region next year, hoping to extract minerals needed for solar panels, wind turbines and electric car batteries needed to replace fossil fuel energy, although the plan faces opposition from environmental groups and some European countries.
4 July: China’s record-breaking deployment of wind and solar capacity has worsened regional power imbalances, forcing the country to idle increasing amounts of renewable generation when it overwhelms local consumption. New government regulations aim to reduce the amount of renewable generation that has to be abandoned by increasing long-distance transmission links and better coordinating generation plans across provinces. Since the end of 2018, China’s total generating capacity has increased by 1.137 billion kilowatt (kW), compound annual growth of 9 percent, according to the National Bureau of statistics (NBS) data.
This is a weekly publication of the Observer Research Foundation (ORF). It covers current national and international information on energy categorised systematically to add value. The year 2024 is the twenty-first continuous year of publication of the newsletter. The newsletter is registered with the Registrar of News Paper for India under No. DELENG / 2004 / 13485.
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