We bring to you the fourth edition of Energy Recap, an editorial newsletter 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 (21 to 27 June).
Reliance Industries to invest Rs. 75000 cr in clean energy
The fossil fuel giant Reliance is ready to enter the clean energy market in India. The company’s chief Mukesh Ambani made the grand announcement of investing Rs. 75000 cr in clean energy during the country’s 44th Annual General Meeting (AGM). The amount will be invested over a period of the next three years and will be utilized in producing photovoltaic cells, green hydrogen, batteries and fuel cells. Ambani also informed that the company is ready to install a 100 GW solar capacity.
The company is planning to create four Giga factories that will work on producing clean energy components like cells, batteries and green hydrogen. The total investment for these four factories will cost close to Rs. 60000 cr. The first Giga factory will be set up at Jamnagar in Gujarat on a 5000-acre land.
During last year’s AGM, the company promised to go carbon neutral by the year 2030.
Source: The Times of India | Financial Times
Coal export from Carmichael mine to begin from this year
Adani Group is all set to export the first tranche of coal from the controversial Carmichael mines in Australia this year. The coal from the mine will be utilized for groups’ growing and diversified energy portfolio aimed at ensuring a sustainable energy mix of thermal power, solar, wind etc.
Adani’s Australian business unit Bravus Mining & Resources informed that it has exposed the first of the coal seams for mining.
While Group’s Chief Gautam Adani celebrated the occasion and congratulated the Australia unit, environmentalists have hailed this as a regressive step fuelling the crisis of climate change.
Source: SBS World
China launches first fully electric bullet train near Arunachal border in Tibet
China on 25th June launched its first fully electric bullet train in Tibet close to Arunachal border in India. The train will run between Tibet’s capital Lhasa and Nyingchi, a border town close to Arunachal Pradesh. The 435 KM track was launched ahead of centenary celebrations of the ruling Communist Party of China (CPC) on July 1.
Source: The Print
Facebook claims reaching net zero emission level
Facebook on 22nd June has claimed to have reached the net zero emission level and achieved 100% renewable energy for its global operations. The social media giant in its sustainability report has said that it has been able to reduce its carbon emissions by 94% against its stated target of 75%. The company further informed that it has invested in high quality carbon removal projects which resulted in total removal of 145,000 metric tonnes of carbon from the atmosphere. These projects included the reforestation projects in East Africa and the Mississippi River Valley.
The company’s current operating renewable energy portfolio of wind and solar accounts for more than 2.8 gigawatts spanning 15 US states, Europe and Asia.
Source: ET Energyworld
India to host 9th Asian Ministerial Energy Roundtable (AMER9): International Energy Forum (IEF)
India has agreed to host the 9th edition of AMER, the dates for which will be announced later. IEF general secretary and Oil Minister informed in a joint press release. The meeting will take forward the discussions of the 8th edition of AMER that focused on global energy security in the age of climate change. The decision was taken in a meeting between IEF and the Government of India. Officials from oil companies such as Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum Corp were also present in the meeting. The meeting discussed the agenda for IEF and the recovery of energy markets due to the pandemic.
IEF is one of the largest energy-centric platforms with 71 member countries, accounting for 90 percent of the global energy market. Its mandate is to regularly host dialogues on promoting energy security, market stability and just transition.
Source: Business World
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