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Top Energy News December 2023

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
Oil & Gas
Oil content in water has further reduced: CPCL
Reliance on Bab-el-Mandeb Strait may hit eco; India needs alternate sea trade routes: GTRI
Azad Engineering secures Rs 221 cr from anchor investors
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
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
Delhi court acquits two accused in coal scam case
TERI and DIW Berlin report stresses need for decarbonization in India’s secondary steel sector
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
Top Stories
First rupee payment for oil to UAE: India looks for more deals, no targets: Officials
Disinvestment fetches over Rs 4.20 lakh cr in 10 years but target to be missed again in FY24
Adani Green Energy inks pact with SECI for supply of 1,799 MW solar power
Our priority is to empower poor and deprived sections: PM Modi
Green Hydrogen Policy: CM Yogi reviews draft, UP govt to release it soon
Oil & Gas
Twin crises send cargo ships back to 18th century trade routes
Russia continues to process high levels of crude mid-December
Achieving 24×7 electricity supply for all in 2024: India’s focus on coal and renewables
Union Budget@10: A decade of renewable energy surge, but transmission and manufacturing lag Moneycontrol
The hidden costs of renewable energy Livemint
HOP Electric eyes 3-fold rise in sales in 2024, to launch mass market electric bike in FY25
Adani, Siemens, GMR, Reliance vying for green mobility project in UP Business Standard
Delhi Green Travel Progress 2023: Bus service becomes app-based, Metro Rail completes 21 years
Congress gave nod for coal mining in Hasdeo Aranya, says Chhattisgarh CM Vishnudeo Sai
Telangana ministers campaign for INTUC in Singareni Collieries polls
Top Stories
Govt rolls out policy for upgrading old wind turbines
Gautam Adani details green elements of INR 7 lakh cr investment planned across verticals
ONGC plans to invest up to Rs 35,000 cr for 5 GW solar, wind energy capacity by 2030
COP28 secures over $186 million in commitments for climate action, bolstering global nature conservation efforts
India’s plan for 50,000 e-buses on its roads gets US support
Smart meters to aid Adani Energy, Tata Power in power purchase pacts Financial Express
India’s power consumption grows nearly 9 pc to 1,099.90 billion units in April-November
Oil & Gas
From the Paris agreement to COP28, how oil and gas giants try to influence the global climate agenda
India may buy more oil from UAE in the coming months after COP talks Business Standard
NGT sets up panel to check oil spill triggered by cyclone Michaung Hindustan Times
Oil extends gains on US strategic reserve purchase
India will address EU’s carbon tax issue; will retaliate if required: Piyush Goyal
At COP28, sticking points remain on fossil fuels and adapting to climate as talks near crunch time
IREDA CMD advocates dual financing model to empower MSMEs in renewable transition
IndiGrid raises INR 670 cr via institutional placement
Bimal Dayal appointed as CEO of Adani Infrastructure India
Ayodhya to develop as solar city with excellent connectivity, modern infrastructure
India’s quest for hydrogen energy clashes with water scarcity fears: Report
Green hydrogen outperforms blue in water efficiency: Report
EXPLAINER: Understanding the terminologies around sustainable finance
Mahindra group CEO Shah is Ficci president
Meeting held to discuss power sector issues in N-E; all states take part
Need to follow consistent EV policy, no need for company-specific sops: FICCI EV Committee chair
World Bank launches comprehensive programme to combat air pollution crisis in India
Tata Motors to hike prices of its commercial vehicles from January 2024
China may achieve circular economy in EV batteries before EU, US: study
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
Top Stories
COP28: India, China refrain from signing pledge to triple world’s renewable energy capacity by 2030
Kerala allocates over Rs 12,500 cr for phase-I green hydrogen valley, green transport corridor
Over 110 countries set to join COP28 deal to triple renewable energy
To greenwash or do the right thing? Corporate dilemmas at COP28
No science that oil phase-out will fix climate: COP28 chief
Proposed 5% biogas blending with natural gas can cut LNG imports worth USD 1.17 bn: IBA
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
India leads in climate targets and sustainable cooling, says Environment Secy at COP 28
Rooftop solar installations rise 34.7 pc to 431 MW in Jul-Sep: Mercom
RIL, Adani, JSW group, L&T enter race for green H2 and electrolyser Business Standard
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
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
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

  1. Peak demand during week: avg/max 192/201GW (+9%/+13% YTDFY24)
  2. Avg daily energy demand: 3,895 MU (-5% wow, +8% YTDFY24)
  3. Daily avg Buy/Sell/Cleared Volume was 277 (+35%)/ 304 (-3%)/ 159 (+7%) with avg MCP of INR 4.7/kWh (+27%).
  4. Indonesian coal (5000 GAR) prices on Indian ports averaged INR 7000-8000/t (-5% mom)
  5. 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.
  6. The avg power purchase cost increased by 71 paise between FY22 and FY23 shared by Minister of Power in Parliament
  7. MNRE unveils revised policy for Repowering Wind Power Projects opening up 25.4GW of opportunities.
  8. 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.
  9. 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.
  10. “…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

  1. Daily avg energy/power demand during wk was 4.1BU (+3.3% yoy)/ 210GW (+5.5% YoY)
  2. 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
  3. HBA index- Indonesian thermal coal price declined to USD 117.4/t for Dec’23; 29 months low & now at pre-Ukraine war level
  4. Tariff discovered in recent PFC’s 1250 MW ISTS Solar PV power projects under flexibility scheme stood at INR 2.53/kWhr.
  5. Haryana to procure 750 MW RTC power during May-Oct’24 at tariff of INR 6.3-9.10 /kWhr from IPPs.
  6. Waaree Energies to build 5GW integrated solar cell & module manufacturing facility in Brookshire, US (earlier Vikram Solar also declared so)
  7. 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).
  8. 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.
  9. “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
  10. “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

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