Energy news for December 2023
| Top Stories & energy news for December 2023: Explore top energy news for December 2023, featuring cutting-edge insights, trends, and innovations shaping the future of the energy sector. Join us as we delve into the dynamic world of energy, offering valuable perspectives and updates that matter. Stay ahead in the evolving energy landscape with NTPC School of Business | |
| India attracts $6.1 billion FDI in renewable sector, boosting green power drive | |
| India to enhance private sector role in power generation, aims for robust energy transition | |
| Govt approved 50 solar parks in 12 states till November 30: R K Singh | |
| India will continue to rely on coal power until it becomes developed country: Environment Minister | |
| India gears up for major mineral auction: 100 blocks by February 2024, 15 offshore by March | |
| Vedanta gets nod to raise up to Rs 3,400 crore via NCDs | |
| REPLUS Engitech eyes Rs 500 crore in orders, plans expansion to 5 GW manufacturing capacity | |
| Renewable | |
| Himachal govt to amend energy policy to make state self-reliant: CM Sukhu | |
| PM-KUSUM: Baton handed to states to customise agriculture-solar goals Business Standard | |
| Suzlon partners with REC for non-fund based working capital lines | |
| Sustainable debt management on agenda for NITI’s global green push -Business Standard | |
| First phase of Dholera Industrial Smart City nearly fully completed: officials | |
| Artificial rain as panacea for pollution crisis? Not long-term, too expensive, say experts | |
| Power | |
| India advocates for stronger energy ties in South Asia at BBIN power summit | |
| India cannot do away with energy security to meet climate goals: Official | |
| NTPC surpasses 300 billion units power generation mark in FY24 | |
| C4V inks MOU with Hindalco for EV battery material | |
| BatX Energies receives $5 million in pre-series A funding to advance lithium battery recycling operations | |
| Create special purpose vehicle to buy power from waste to electricity plants: Par panel | |
| Over 2.27 crore vehicles registered in 2023; EVs show remarkable growth | |
| Coal | |
| Delhi court acquits two accused in coal scam case | |
| TERI and DIW Berlin report stresses need for decarbonization in India’s secondary steel sector | |
| International | |
| How companies are responding to attacks on ships in the Red Sea | |
| Seven European countries pledge CO2-free power systems by 2035 | |
| EV startup founders made big claims, now one could go to prison | |
| Major S.Africa mine protest enters second day | |
| Oil & Gas | |
| Twin crises send cargo ships back to 18th century trade routes | |
| Russia continues to process high levels of crude mid-December | |
| Coal | |
| Congress gave nod for coal mining in Hasdeo Aranya, says Chhattisgarh CM Vishnudeo Sai | |
| Telangana ministers campaign for INTUC in Singareni Collieries polls | |
| Coal | |
| India’s coal imports drop over 4% to 148 million in April-Octber period | |
| Coal stocks at thermal power plants improve to 27 MT in Dec Moneycontrol | |
| Oil & Gas | |
| IOC raises Panipat refinery expansion cost by 10%, pushes completion deadline by a year | |
| India resumes imports of Venezuelan oil, Reliance seeks direct deal | |
| Power | |
| Willing to help other EV players adopt our charging connector free of cost: Ather Energy CBO | |
| Govt to pump in additional Rs 1,500 crore for FAME-II subsidy scheme Business Standard | |
| Coal | |
| India’s coal production reaches 11.94 MT, dispatch at 12.92 MT in November | |
| Coal India to ramp up coal transport capacity with new railway lines by 2025 | |
| International | |
| COP28 lines up new climate pledges – but do they work? | |
| COP28: Pragmatically determined commitments? | |
| COP28: 117 countries agree to triple renewable energy, to push out fossil fuels | |
10 Power Points
A weekly roundup on utilities/Power/RE for 9-15 Dec 2023
- Peak demand during week: avg/max 192/201GW (+9%/+13% YTDFY24)
- Avg daily energy demand: 3,895 MU (-5% wow, +8% YTDFY24)
- Daily avg Buy/Sell/Cleared Volume was 277 (+35%)/ 304 (-3%)/ 159 (+7%) with avg MCP of INR 4.7/kWh (+27%).
- Indonesian coal (5000 GAR) prices on Indian ports averaged INR 7000-8000/t (-5% mom)
- Demand for coal is seen rising 1.4% in 2023, surpassing 8.5 BMT for the first time as usage in India/ China is expected to grow 8%/5% due to rising electricity demand and weak hydropower output as per IEA’s latest assessment.
- The avg power purchase cost increased by 71 paise between FY22 and FY23 shared by Minister of Power in Parliament
- MNRE unveils revised policy for Repowering Wind Power Projects opening up 25.4GW of opportunities.
- China-based Mingyang Smart Energy (largest wind turbine manufacturer in the world) rolled out its 18 MW offshore wind turbine (rotor dia 260-292m) at its manufacturing base Shanwei.
- Wood Mackenzie in its latest report states that the cost of producing solar modules in China has dropped by 42% in the last 12 months to USD 0.15/Watt v/s USD 0.22/0.30/0.40 in India/EU/US.
- “…NERC’s latest assessment is deeply troubling… the risk of electricity shortages has grown worse. This is largely due to coal retirements, EPA policies, and dangerous subsidies for unreliable sources of energy. We again urge Congress … to act immediately on these continued warnings.” Michelle Bloodworth, President and CEO, America’s Power
A weekly roundup on utilities/Power/RE for 16-24 Dec 2023
- Daily avg energy/power demand during wk was 4.1BU (+3.3% yoy)/ 210GW (+5.5% YoY)
- Daily avg Buy/Sell/ Cleared volume on power exchange was 280 MU (+1%)/ 293 MU (-4%)/ 153 MU (-4%) with avg MCP of INR 4.9/kWh (+5%), with a low of INR 2.3/kWh & a peak of INR10/kWh
- HBA index- Indonesian thermal coal price declined to USD 117.4/t for Dec’23; 29 months low & now at pre-Ukraine war level
- Tariff discovered in recent PFC’s 1250 MW ISTS Solar PV power projects under flexibility scheme stood at INR 2.53/kWhr.
- Haryana to procure 750 MW RTC power during May-Oct’24 at tariff of INR 6.3-9.10 /kWhr from IPPs.
- Waaree Energies to build 5GW integrated solar cell & module manufacturing facility in Brookshire, US (earlier Vikram Solar also declared so)
- Power Min introduced new TBCB guidelines for grid-connected wind-solar hybrid projects (min capacity down to 10 MW/ 110 days bidding process/ tariff bid parameter/ 20-25 yrs PPA/ freedom to sell power in excess of CUF/ payment similar to LPS Rules/ penalties for delays).
- CEA notified phasing plan for flexible operations of coal power plants (6/51/47/37/56 GW by Mar’24/Jun’26/Jun’28/Dec’29/Dec’30) with an eye on grid balancing.
- “we talk so much about phase out of coal. This cannot be achieved unless Discoms become viable to support investment in new RE capacity … we all talk about LPSC Rules so much, but far more significant reform is mandatory fuel & power purchase cost adjustment on monthly basis – for bridging ACS-ARR gap. This has also depoliticised the tariff revision to a large extent…”- Alok Kumar, Fr Power Secretary
- “20 thermal power projects with a total capacity of 27,180 MW… are under construction… 12,000 MW has been bid out, and 19,000 MW is under clearance. The total anticipated thermal capacity addition by 2031-2032 will be 87,910 MW…”- R K Singh. Min of Power