Energy recap is an in-house and weekly initiative by TA to track and report on major policy developments in India’s energy sector. Here are some of the key energy highlights from the week.
World Environment Day: PM Modi launches Ethanol roadmap for India
PM Modi released the roadmap for ethanol based economy prepared by the Oil Ministry and Niti Aayog on the occasion of the World Environment Day. The plan provides for selling of 20% blending of ethanol with petrol for the oil companies from 1st April 2023. PM also launched three ethanol stations in Pune to promote the use of “swadeshi” fuel. He also emphasized that use of ethanol will strengthen India’s fight against climate change. It has been estimated by the Oil Ministry in its roadmap that blending of ethanol will result in saving of Rs 30,000 crore in India’s oil import bill.
Source: ET Energy
E-mobility pact between NHPC and Convergence Energy Services
In order to boost its conservation efforts, NHPC has signed a deal with Convergence Energy Services CES), a unit of Energy Efficiency Services Limited (EESL), for leasing of 25 Electric Vehicles (EVs) and supply of 3 Electric Vehicle fast chargers to NHPC. This will include its installation and commissioning too. It is being said that NHPC will have the largest EV fleet amongst the Central Public Sector Enterprises.
Source: Telangana Today
Fuel prices rise again
Post 17th ministerial meeting of OPEC plus grouping, fuel prices in India witnessed an increase. State run oil marketing companies raised the retail prices as the global prices for crude oil increased. The companies increased price of diesel and petrol by 23 and 26 paise respectively. As a result, the diesel and petrol was being sold for Rs. 85.38 per litre and Rs. 94.49 per litre in the national capital. Whereas, price of Petrol has reached close to Rs. 101 in Mumbai.
India to host Clean Energy Ministerial in 2023
India is all set to host the Clean Energy Ministerial in 2023, said Power Ministry. Whereas, the 12th Clean Energy Ministerial is being organized by Chile, virtually from 31 May to 6 June 2021. The Power Ministry also informed that India has introduced a new workstream to promote industrial energy efficiency under CEM along with UK. More countries are also expected to join this initiative soon. The workstream focusses on introduce green technologies and promote a low carbon growth. Power ministry said that India is committed to reduce the carbon emissions intensity per unit of GDP by 33-35 per cent by 2030.
Source: ET Energy
IndusInd Bank to reduce carbon emissions by 50% in four years
On the occasion of the World Environment Day on June 5, IndusInd bank has announced to to reduce its carbon emissions by 50% in the next four years. Second, it also pledged to increase its share on climate financing to 3.5% in two years from the current 2.7%. Promoted by Hinduja Group, the bank also featured for the sixth time in the Carbon Disclosure Project (CDP) list. Moreover, it also claims that it is the only Indian bank to get featured in the list. The bank also informed that it is creating green and plastic free lobbies across all its branches and getting them LEED certified. The bank is also undertaking a tree plantation drive in the cities with a high pollution index.
Source: Business Today
Bengaluru airport becomes energy neutral, saves close to 22 lakh units
For the financial year 2020-21, Bengaluru International Airport Limited has announced that it has achieved the net energy neutral status in the FY 2021-22. The airport saved close to 22 lakh units. The airport saved nearly five lakh units (KWH) from lighting and over 17 lakh units air conditioning and ventilation systems. The airport also told that it is meeting close to 98% of its energy requirement from renewable energy sources.
Source: Business Today
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