Energy Archives | ESG News.earth

India Launches Platform to Accelerate Green Energy Transition

Posted by ESGNEWS Team - November 14, 2024

The platform will assist states in creating energy transition blueprints, project implementation, and fostering innovation…

Why are the national renewables targets falling short of market forecasts?

Why are National Renewables Targets Falling Short of Market Forecasts?

Posted by ESGNEWS Team - November 13, 2024

IRENA suggests a global tripling of renewables to at least 11,000 GW by 2030 to…

ISA Aims to Unlock $1 Trillion in Solar Investments by 2030

Posted by ESGNEWS Team - November 8, 2024

ISA is focusing on green hydrogen partnerships, conducting readiness assessments in Egypt, Morocco, Namibia, and…

MNRE Minister Stresses on Increasing Solar Projects efficiency, Cost Reduction

Posted by ESGNEWS Team - November 6, 2024

Union MNRE Minister Pralhad Joshi has stressed on increasing the efficiency of solar projects, reducing…

Key Highlights from ISA Annual Assembly

Posted by Sonal Desai - November 5, 2024

The seventh session of the ISA Annual Assembly re-elected India as the President, and discussions…

TPREL, IndusInd Bank to Issue Solar Energy Finance to MSEs

TPREL, IndusInd Bank for Solar Energy Finance to MSEs

Posted by Sonal Desai - November 5, 2024

Through loans ranging from ₹ 10 lakh to ₹ 2 crore, TPREL and IndusInd Bank…

As nations look to secure supply chains and economic opportunities, a new IEA analysis demonstrates the intricate interactions between energy, industrial, and trade policies. Energy Technology Perspectives 2024, the latest IEA publication, focuses on the future of the top six mass-produced clean energy technologies. These include solar photovoltaics, wind turbines, electric vehicles, batteries, electrolysers, and heat pumps. The global technology market is projected to grow from $700 billion in 2023 to over $2 trillion by 2035, equivalent to the value of the crude oil market in recent years, largely due to current policy settings. The clean technology trade is projected to significantly increase, reaching $575 billion within ten years, surpassing half of the current global natural gas trade. The IEA report highlights the significant opportunities for nations to manufacture and trade clean energy technologies due to their rapid adoption. It also presents difficult choices for governments, who must balance trade-offs and tensions depending on the industrial and trade policies they choose to implement. Clean technologies market is expected to surpass fossil fuels in value over the next decade. The integration of energy, industry, and trade is becoming increasingly interconnected as nations strive to establish their position in the new energy economy. “As we have demonstrated, clean energy transitions offer a significant economic opportunity, which nations are rightfully attempting to take advantage of. Governments should, however, work to create policies that support ongoing competition, cost-cutting, and innovation in addition to advancements in their energy and climate goals,” said Fatih Birol, Executive Director, IEA. The global clean technology market is growing rapidly, with significant investments in clean technologies being made by countries like China, the US, the EU, and India. Despite the impact of the US Inflation Reduction Act, the EU's Net-Zero Industry Act, and India's Production Linked Incentive Scheme, China is expected to dominate the global manufacturing sector, with its clean technology exports expected to surpass $340 billion in 2035. This is approximately equal to the combined oil export earnings of Saudi Arabia and the United Arab Emirates this year. ETP-2024 highlights that nations at different stages of development can still access the clean energy economy, despite less than 5% of the value created by developing clean technologies today. The analysis of over 60 indicators, including business climate, energy and transportation infrastructure, resource availability, and domestic market size, provides crucial insights for emerging and developing economies. The report suggests that emerging economies can leverage their competitive advantages to expand beyond mineral extraction and processing. In the next ten years, Southeast Asia may become affordable for polysilicon and solar panel wafer production, Latin America, particularly Brazil, expand wind turbine exports, and North Africa could become a center for electric vehicle manufacturing. The Strait of Malacca, separating Pacific and Indian oceans, now accounts for half of all maritime trade in clean energy technologies. The Strait of Hormuz is involved in more than 20% of the fossil fuel trade, with varying implications for energy security. It highlights the global impact of the growing trade in clean energy technology, suggesting that importing clean technologies could enhance energy supply resilience and longevity. Solar PV modules on large container ships can produce as much electricity as 50 LNG tankers' natural gas or 100 bulk ships' coal in a single trip. "Many economies, not just a select few, should benefit from growth in the production and trade of clean energy technologies," Dr. Birol stated. According to this report, nations in Africa, Latin America, Southeast Asia, and beyond have a great chance to be significant players in the emerging energy economy. And it concludes that they can realize this potential with strong strategic alliances, more funding, and more work to lower exorbitant financing costs.

Global Clean Energy Market to Reach $2 T in 10 Years

Posted by ESGNEWS Team - October 31, 2024

As energy transitions progress, the global market for critical clean energy technologies is expected to…

Concerns about excessive power sector investment without purchase agreements

Posted by ESGNEWS Team - October 28, 2024

Aequitas cautions against over power sector investment and past industry mistakes in India's ambitious power…

Despite 200GW Milestone, India’s RE Future Faces Import Headwinds

Posted by Sonal Desai - October 23, 2024

India's RE target to reach 500 GW by 2030could be hindered by $30 billion in…

IREDA to Establish Retail Subsidiary

Posted by ESGNEWS Team - October 11, 2024

Indian Renewable Energy Development Agency Limited (IREDA) has plans to establish a wholly-owned retail subsidiary…

Advancing India’s Green Shipping, RE Narrative on a Global Stage

Posted by ESGNEWS Team - October 8, 2024

India's union minister highlighted the country's progress in green shipping and renewable energy transition at…

Hitachi Energy to Invest $250 Million in India

Posted by ESGNEWS Team - October 8, 2024

Hitachi Energy will invest in capacity expansion, portfolio, and accelerating global demand for clean energy…

GAIL, AM Green to Develop 2.5 GW RE Projects

Posted by ESGNEWS Team - October 8, 2024

GAIL and AM Green will jointly develop solar/wind hybrid RE projects to supply renewable energy…

BPCL, MbPA to Launch India’s First Green Fuel Ecosystem

Posted by ESGNEWS Team - October 4, 2024

BPCL, MbPA and the MPSF have inked the MoU to improve sustainable energy options at…

Bahrain Takes a Leap Towards a Sustainable Future

Posted by Renjini Liza Varghese - October 2, 2024

The recent POWERELEC conference in Bahrain highlighted the country's unwavering commitment to achieving net-zero emissions.

Maharashtra Gets Rs 1.29 lakh crore Boost for RE

Posted by ESGNEWS Team - September 27, 2024

Maharashtra has secured a substantial boost for its renewable energy sector with the signing of…

Ambuja Cements Joins AFID; Pledges Rs 100 B for RE

Posted by ESGNEWS Team - September 27, 2024

Ambuja Cements plans to invest Rs 100 billion in RE projects, including 1 GW capacity…

Sunsure Energy to Supply Green Power to Kirloskar Brothers

Posted by ESGNEWS Team - September 21, 2024

Sunsure Energy will supply 2 cr units of clean power to Kirloskar manufacturing facilities, reducing…

Can India Scale to Meet to its RE Targets?

Posted by ESGNEWS Team - September 20, 2024

CEEW, the independent think tank has raised some eye-opening questions regarding India's RE target achievements.

India Inc Pledges Rs 32.45 Lakh Crore for RE Projects

Posted by ESGNEWS Team - September 19, 2024

India Inc. has pledged Rs 32.45 lakh crore for renewable energy projects till 2030, aligning…

Coal India to Expand RE Capacity by 5 GW

Posted by ESGNEWS Team - September 14, 2024

Coal India to expand its RE capacity by adding 5 GW by 2028. Additionally, the…

31,350 MW Hydro Electric Projects Receives Rs 12,461 Crore Support

Posted by ESGNEWS Team - September 12, 2024

The Cabinet has approved a modification to the budgetary support scheme for enabling infrastructure for…

Geothermal Power Plant on the Horizon

Posted by Renjini Liza Varghese - September 9, 2024

The latest is the addition of geothermal energy to the energy basket, with MNRE constituting…

ONGC Expands Green Energy Horizon with 1GW Acquisition Plan

ONGC’s 1GW Renewable Energy Push

Posted by ESGNEWS Team - September 3, 2024

ONGC has submitted a tender for one GW of renewable energy. Also established ONGC Green…

Biocon to Achieve Gender Parity by 2030

Posted by ESGNEWS Team - September 2, 2024

Kiran Mazumdar Shaw, Founder, Biocon, said the initiative was aimed to create a more inclusive…

ReNew, Microsoft Ink 437.6 MW Green Energy Contract

Posted by ESGNEWS Team - August 30, 2024

Microsoft aims to achieve carbon-negative status by 2030 by producing over a million green energy…

L’Oréal Documents 100 % RE Journey in India

Posted by ESGNEWS Team - August 26, 2024

L'Oréal India has transitioned all its operations in India, including manufacturing facilities, research and innovation…

Thermal Power Back in Focus

Posted by Sonal Desai - August 10, 2024

Private sector companies like Adani Power, JSW Energy, and Tata Power are refocusing on thermal…

TPRMG, NDDB Partner to Solarize the Dairy Cooperative Sector

Posted by ESGNEWS Team - July 29, 2024

This partnership aims to support various projects focusing on developing renewable energy technologies in the…

5 Ways in Which Amazon Achieved its 100% RE Target

Posted by ESGNEWS Team - July 22, 2024

Amazon has achieved 100 percent RE target seven years ahead of the set goal. Here…

Tata Power to Invest Rs 20,000 crore for Renewable Energy

Posted by ESGNEWS Team - July 20, 2024

The investments are aimed at advancing sustainability, spurring clean energy growth, and supporting India's renewable…

Renewable Energy Growth Rate Must Triple to 16.4% by 2030

Posted by ESGNEWS Team - July 12, 2024

As per IRENA statistics, despite rapid growth, the world may fall short of the triple…

AM Green, SJVN to Execute One of World’s Largest Carbon-Free RE Project

Posted by ESGNEWS Team - July 5, 2024

AM Green will receive 4,500 MW of carbon-free RE for its green ammonia facilities, integrating…

Category: Energy