State-owned Energy Efficiency Services Ltd on Thursday said it has signed a pact with Bharat Heavy Electricals Ltd to set up a network of public charging infrastructure for electric vehicles at various highways across the country. Energy Efficiency Services Ltd (EESL) and Bharat Heavy Electricals Ltd (BHEL) will jointly explore opportunities in the field of e-mobility and fast-track the adoption of EVs in the country under the National E-Mobility Programme, the company said in a statement.
State-run fuel retailers will raise fuel prices by 50 paise to Re 1 per litre in one go from April to recover investments made for producing Bharat Stage-VI (BS-VI, akin to Euro-VI standard) petrol and diesel. “I don't think premium (for BS-VI fuels) will be large enough for it to be staggered,” Sanjiv Singh, chairman of the country’s largest oil refiner and fuel retailer Indian Oil, said on Thursday after announcing trebling of the company’s net profit in the December quarter to Rs 2,339 crore.
Italy has requested India's help in designing a hydrogen initiative leading up to the United Nations Climate Change Conference, to be held later this year. In a meeting on Thursday with Anand Kumar, Secretary, Ministry New and Renewable Energy, an Italian business delegation led by Alessandro De Masi, Head of Economic and Commercial Affairs of Italy discussed new opportunities for future collaborations and potential investment projects. These would be in the field of hydrogen, fuel cells, and electrolysers, among others.
India's steel demand is likely to more than quadruple in the next 30 years, resulting in rise in carbon dioxide emissions by around 600 million tonnes, a report by the think-tank The Energy and Resources Institute (TERI) said on Thursday.
Electric vehicles will become cheaper than combustion vehicles in three years as the price of battery packs of EVs is expected to fall by almost 51 per cent per unit, NITI Aayog CEO Amitabh Kant said on Thursday. Kant was speaking at the Mobility Talk Corporate Conclave at the World Sustainable Development Summit (WSDS) 2020, TERI's annual flagship event being held in the capital. "Electric vehicles will become much cheaper than combustion vehicles in three years.
With the government’s aim of reducing India’s oil import dependence by 10 per cent by 2022 not picking up pace, oil minister Dharmendra Pradhan today said his ministry is developing a new strategy to achieve the target. “Crude oil will continue to play a critical role at this stage of our development in meeting our energy requirements. Our government had set a road-map on reducing India’s crude oil import dependence by 10 per cent by 2022.
Hyundai Motor India (HMIL) is expected to roll out a mass market electric vehicle product in two to three years. The company expects the second half of the year to show improvement in domestic market and while there are concerns about the comparitively higher price for the BS-VI models, there might also excitement among the customers on the new technology, said Tarun Garg, director, sales and marketing division, HMIL.
Mahindra Electric Mobility Ltd, a part of the $20.7 billion Mahindra Group, is planning to go global and export its indigenously developed EV technology products and solution to overseas markets such as Europe and South Korea. Mahindra Electric CEO Mahesh Babu said the company plans to supply products such as vehicle control unit and powertrain to SsangYong Motor Company, which is Mahindra Group company in South Korea.
The ambitious ‘smart grid’ project of DHBVN, which was launched in 2016 by then Union power minister Piyush Goyal with a view to curb the frustrating and frequent power outages in sectors 1-57, was supposed to be completed within a span of 12 months. However, to date, only 30% of the work has been finished because the project has faced several hurdles since announcement, said officials.
With businesses more eager than ever to make bold clean energy promises, the global market for corporate renewable energy power purchase agreements continues to surge. Last year, corporations contracted an unprecedented volume of renewable energy projects, up more than 40% from the previous year’s record, finds Bloomberg New Energy Finance (BNEF). Some 19.5 GW of clean energy contracts were signed by more than 100 corporations in 23 different countries in 2019, BNEF finds in its 1H 2020 Corporate Energy Market Outlook.
The Ministry for New and Renewable Energy (MNRE) issued a clarification on Thursday regarding the second phase of the solar rooftop programme, for which it provides Central Financial Assistance (CFA). Meant for the residential sector, the CFA is provided at a 40 per cent of the benchmark cost, or the cost discovered through the transparent bidding by the implementing agency- whichever is lower for rooftop systems. The CFA is applicable up to a capacity of 3 kW.
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