Maruti Suzuki Boosts Green Energy with New 10 TPD Biogas Plant, ₹925 Cr Investment by 2031

On World Environment Day, Maruti Suzuki India Limited announced a major expansion of its renewable energy portfolio, unveiling two new biogas initiatives that reinforce its commitment to clean energy and reduced fossil fuel dependence.

The company will commission a 10 Tonnes Per Day (TPD) biogas plant at its Kharkhoda facility within FY 2026-27, while also completing the expansion of its Manesar biogas plant from 0.2 TPD to 0.7 TPD. Together, these projects represent an investment of ₹150 crore, aligned with India’s national Waste-to-Wealth mission.

Kharkhoda Biogas Plant

The upcoming Kharkhoda plant is expected to mitigate 9,490 tonnes of CO2 annually and will meet nearly 20% of the facility’s gas requirement. This marks one of the largest biogas initiatives in India’s automotive sector.

Manesar Expansion

Earlier this month, Maruti Suzuki expanded its Manesar biogas plant to 0.7 TPD output, generating approximately 3.6 lakh standard cubic meters of biogas annually. This will avoid 664 tonnes of CO2 emissions per year.

• Feedstock: food waste, Napier grass, paddy straw
• Provision: cattle dung for boosted output
• Applications: paint shop heating, canteen operations
• By-product: Fermented Organic Manure (FOM) for horticulture/agriculture

Leadership Statement

Maruti Suzuki has been consistently working on initiatives aimed at reducing fossil fuel consumption and oil import dependence. At a time when the world is navigating an increasingly uncertain energy landscape, such initiatives assume greater significance.

— Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited

Broader Green Energy Vision

Beyond biogas, Maruti Suzuki has scaled its solar capacity to 79 MWp across facilities, with a target of 319 MWp by FY 2030-31.

At its Hansalpur facility, the company has already replaced natural gas with biogas for 10% of energy requirements, ensuring resilience against LNG supply constraints.

Overall, Maruti Suzuki has earmarked ₹925 crore for green energy investments by FY 2030-31, underscoring its long-term vision to integrate renewable energy solutions into manufacturing operations.

Andhra Pradesh Unveils ~ ₹22,000 Cr Green Energy Corridor to Integrate 18 GW into Grid

The Andhra Pradesh Government is taking significant steps to strengthen the state’s power infrastructure by establishing a Green Energy corridor and expanding the electricity transmission network. As part of Green Energy Corridor Phase-III, proposals worth nearly Rs 22,000 crore have been prepared to integrate 18 GW of green energy into the main power grid.

Reviewing on power sector at Secretariat today Chief Minister N Chandrababu Naidu enquired on measures being undertaken to expand the transmission network under the Green Energy Corridor. Officials informed the Chief Minister that steps are being taken to connect approximately 18 GW of green energy to the main grid under Green Energy Corridor Phase-III.

The proposed integration includes 11 GW of solar power and around 7 GW generated through pumped storage projects. To support this, the government plans to lay 2,261 km of new transmission lines and establish five major pooling stations with a combined capacity of 9,500 MW.The pooling stations are proposed at Mudigubba, Talupula, Ramayapatnam, Porumamilla and Koppaka.

The Chief Minister stated that Andhra Pradesh has set a target of generating 160 GW of green energy, accordingly, power infrastructure must be developed to meet future requirements. He noted that the Green Energy Corridor would be highly beneficial in supplying power to upcoming data centres in the state and would significantly enhance investment opportunities across sectors.

The review also covered implementation of PM Surya Ghar and PM-KUSUM schemes, along with progress in solarization of government buildings.

Officials informed the Chief Minister that the solarization process for government buildings, with a capacity of 200 MW, has already begun. The programme is being implemented through the RESCO model, with solar panel installations under the net metering system.

As part of a pilot initiative, 78 Gurukul schools and hostels in Chittoor district have been selected. Further, 2,898 schools and hostels have been identified for solarization to transform them into Net Zero and healthy campuses.

The Chief Minister observed that increased solar energy usage in government offices and schools would substantially reduce the electricity burden on the state and directed officials to focus intensively on implementation.

Officials informed that Andhra Pradesh currently ranks fourth in PM Surya Ghar implementation and the Chief Minister instructed departments to strive for the top position.

He also directed officials to complete installation of solar panels in the remaining SC and ST households by the end of August, after already covering 1,35,821 homes. Additionally, under a subsidy programme for BC communities, the government aims to install solar panels in 10 lakh homes with Rs 20,000 subsidy support and officials directed to expedite implementation.

The Chief Minister also instructed officials to accelerate the establishment of EV charging stations across the state. Officials informed that the process for setting up 577 EV charging stations at 131 locations has already commenced.

Officials also presented initiatives being undertaken with support from ‘Pravah’, an organisation associated with Stanford University, along with an Artificial Intelligence Lab, to reduce technical power losses in the AP Eastern Power Distribution Company (APEPDCL) region.

They informed the Chief Minister that Andhra Pradesh is developing the country’s first Digital Twin Grid for power supply management.

Officials further briefed the Chief Minister on electricity demand projections. Between June and November 2026, peak power demand in the state is expected to reach 12,226 MW, while daily demand may range between 226 and 261 million units.

Officials stated that on May 21, the state recorded a peak demand of 15,016 MW, while electricity consumption till May 27 stood at 7,060 million units. Compared to 2025, electricity consumption during April–May 2026 increased by 14.48% to 16.77%, they said.

A delegation from the World Economic Forum (WEF) met Chief Minister Chandrababu Naidu to discuss the implementation roadmap for the country’s first Thematic Centre for the Fourth Industrial Revolution (C4IR) established isn Andhra Pradesh.

An agreement had earlier been signed between AP Transco and the WEF for setting up the C4IR. The centre will undertake studies in areas such as green energy, energy transition and cyber resilience.

The Chief Minister stated that Andhra Pradesh should emerge as a global hub for green energy, digital transformation and cybersecurity.

The Chief Minister instructed that C4IR should function with a results-oriented approach and directed officials to ensure Andhra Pradesh reaches a stage where its progress can be showcased at the next Davos summit.

Minister Gottipati Ravi Kumar, Chief Secretary G Sai Prasad and senior officials from AP Transco, Genco and DISCOMs participated.

India–Sweden Cleantech Accelerator Hosts 27th Workshop in Hyderabad

The India–Sweden Innovations Accelerator (ISIA) successfully hosted its 27th workshop with the Swedish cleantech delegation in Hyderabad today, bringing together key industry leaders, technology providers, and sustainability experts to accelerate the deployment of innovative clean technologies in India.

The India–Sweden Innovations Accelerator (ISIA) is Sweden’s flagship bilateral initiative with India to drive cleantech and green energy collaborations. Supported by the Swedish Energy Agency and implemented in partnership with Business Sweden and CII–Sohrabji Godrej Green Business Centre, the program facilitates the entry of Swedish cleantech companies into India while enabling Indian industries to adopt globally proven sustainable technologies and deploy these at scale.

The 27th workshops in Hyderabad was organized by the Confederation of Indian Industry (CII) through the CII–Sohrabji Godrej Green Business Centre (CII-GBC), in collaboration with the Swedish Energy Agency and Business Sweden.

The event witnessed participation from 40 leading Indian companies, along with 7 leading Swedish cleantech companies, showcasing cutting-edge solutions across sectors such as energy efficiency, smart grids, IoT-enabled systems, clean mobility, advanced industrial material, resource optimization and many more.

Since its inception, the ISIA program has emerged as a cornerstone of bilateral cleantech collaboration, having:

• Introduced 80+ advanced clean technologies to the Indian market
• Enabled 250+ pilot and commercial projects across sectors
• Facilitated 50+ industry partnerships
• Supported the establishment of 7 local subsidiaries. 
• Engaged with over 1,500 Indian stakeholders

The workshop commenced with a welcome address by Mr. Gaurav Maheswari, Vice Chairman, CII Telangana and Managing Director, Signode India Limited, who emphasized that the global sustainability agenda has shifted decisively from commitments to implementation. He highlighted the growing demand within Indian industry for scalable, cost-effective, and deployable solutions to achieve decarbonization goals.

In the theme address, Mr. Pawan Tahlani, Head – New Delhi, Business Sweden, underlined the strong alignment between India’s rapidly growing energy needs and Sweden’s strengths in clean technologies, calling for deeper industry collaboration to accelerate the green transition. Highlighting India and Sweden’s shared vision for a Green Future leading opportunity in India’s energy transition and how this program can serve as a collaboration model for accelerating the transition.

Mr. Edgar Darbinyan, representing the Swedish Energy Agency, reinforced Sweden’s commitment to fostering international partnerships that enable large-scale deployment of sustainable technologies. Emphasised on how Swedish Energy Agency helps in promoting Cleantech Swedish companies and help India in its journey to energy transition through bilateral collaboration programs like ISIA and Lead IT 2.0 program.

In the concluding remarks, Mr. K. Muralikrishnan, Principal Counsellor, CII-Green Business Centre, emphasized that the transition to sustainability now requires execution at scale, supported by proven technologies and strong industry partnerships. He encouraged participants to translate discussions into actionable collaborations and pilot deployments.

The workshop featured a series of technical presentations from companies including Candela, ECAPS, Lixea, Waltero, Plexigrid and Affectus. The event also showcased success cases, including industry collaborations such as Krahn Specialty Fluids & Metalex Cryogenics Limited, followed by interactive sessions and discussions. Swedish companies presented innovative solutions tailored to India’s industrial and energy transition needs.

A key highlight of the event was the focused B2B meetings, enabling direct engagement between Swedish technology providers and Indian industry representatives to explore pilot projects, partnerships, and long-term collaborations. The ISIA platform continues to play a pivotal role in bridging global innovation with India’s industrial ecosystem, reinforcing both nations’ shared commitment to sustainable growth, industrial decarbonization, and a low-carbon future.

Finvolve and India Accelerator Invest $1 Mn in Rohal Technologies to Power India’s future with Hybrid Green Energy

Finvolve, the multi-stage VC fund of IA, has announced a $1 million seed investment in Rohal Technologies, a pioneering developer of hybrid green energy solutions for mission-critical applications in defense, homeland security, disaster management, and telecom.

The funding marks a key milestone for Rohal Technologies as it accelerates efforts to scale production, deliver on its growing pipeline of government and defense orders, strengthen its R&D capabilities, and expand its engineering and operations teams.

Recognized for its indigenously developed Solid Oxide Fuel Cell (SOFC) technology, Rohal’s compact and rugged hybrid power systems are already deployed in high-altitude, extreme weather zones by the Indian Army, NSG, CRPF, BSF and other key defense and homeland security units. The company’s innovation provides clean, quiet, and highly portable alternatives to conventional diesel generators—capable of operating on multiple fuels including LPG, CNG and biogas.

Commenting on the investment, Ashish Bhatia, Founder & CEO, IA & Co-Founder, Finvolve, said, "Rohal is solving a real-world challenge for India’s security forces—how to deliver uninterrupted, off-grid power in the harshest environments. Their fuel cell innovation is not only a technological breakthrough but also a strategic one. As India moves toward self-reliance in defense tech, we’re proud to back a company that is both Make-in-India and Mission-first."

With trials successfully conducted at altitudes over 18,000 feet and temperatures as low as -35°C, Rohal’s systems are battle-tested and ready for scale. The firm also holds a patent application for its hybrid power management system and is working closely with DRDO, BEL, and other state partners to further deploy and co-develop frontier energy solutions.

Karamvir Singh, CEO & Founder of Rohal Technologies, added, “Our mission has always been to make India energy-resilient in its most sensitive and remote defense zones. With the support of IA and Finvolve, we are now ready to ramp up production, expand our research capabilities, and deliver best-in-class, zero-emission power systems where they are needed most.”

This investment underlines IA and Finvolve’s continued commitment to nurturing deep-tech, defense-aligned, and sustainability-driven ventures that align with national interest and long-term global impact.

About IA & Finvolve

IA is India’s premier startup factory with multiple sub-brands that enable the start-up ecosystem in India - India Accelerator supports the early stage startups with funding, mentorship and other benefits; Finvolve is a multi-theseis growth and late stage fund that empowers startups across their growth journey—from pre-seed to pre-IPO—through capital, strategic support, and ecosystem access. IA Spaces enables start-ups across 10+ cities in India with access to co-working hubs and Third Place, which acts as India’s premium Business Cafe. IA is the recipient of the "Best Accelerator of the Country" award from Start-up India in 2022. Our commitment to fostering innovation and supporting upcoming founders has consistently positioned us at the forefront of the Indian start-up ecosystem.

L&T Incorporates New Subsidiary to Develop Green Hydrogen Projects

Larsen & Toubro (L&T) has taken a significant step in the green energy sector by incorporating L&T Green Energy Kandla Pvt Ltd, a subsidiary focused on developing green hydrogen projects. This move aligns with L&T's broader sustainability goals, following the successful commissioning of its first green hydrogen plant in Gujarat.

Green hydrogen, produced through electrolysis powered by renewable energy, is gaining traction as a clean and versatile energy carrier. L&T's new subsidiary will not only focus on hydrogen production but also explore derivatives like green ammonia, which can be crucial for industrial applications.

Several companies have been actively incorporating subsidiaries to expand their presence in green hydrogen and clean energy. Reliance Industries has been advancing its green hydrogen initiatives through Reliance New Energy Ltd, focusing on electrolyser manufacturing and hydrogen production.

Adani Group has incorporated Adani New Industries Ltd, which is working on large-scale green hydrogen projects. JSW Energy has set up JSW Future Energy Ltd, aiming to develop hydrogen-based solutions for industrial applications.NTPC has launched NTPC Green Energy Ltd. dedicated to renewable energy projects.

NTPC and Indian Army to Setup Solar Hydrogen-based Microgrid in Ladakh

NTPC and the Indian Army have partnered to establish a Solar Hydrogen-based Microgrid in Chushul, Ladakh. This project aims to provide a stable, year-round power supply using green hydrogen, replacing existing diesel generators.

The microgrid will supply 200kW of power round-the-clock throughout the year. This NTPC designed Solar Hydrogen-based microgrid system will operate independently and use hydrogen as an energy storage medium.

This initiative promotes carbon neutrality and reduces logistics dependencies in harsh, high-altitude conditions.

 

NTPC will maintain the project for 25 years, ensuring long-term sustainability. This system will replace existing diesel gensets at off-grid Army locations, providing a sustainable power supply despite harsh winter conditions, where temperatures drop to -30°C at an altitude of 4,400 meters.

Ladakh's high solar irradiance and low temperatures facilitate this project to produce and utilize green energy and eliminate reliance on fuel logistics and enhance self-sufficiency in remote areas.

In addition to the Solar Hydrogen-based Microgrid project in Chushul, NTPC is involved in several other initiatives in Ladakh. NTPC has initiated a trial run of hydrogen buses in Leh to promote sustainable transportation, and is setting up a hydrogen fuelling station and a solar plant in Leh, in collaboration with Indiam army.

NTPC is introducing five fuel cell buses for intracity routes in Leh. NTPC is advancing various decarbonisation initiatives, including hydrogen blending, carbon capture, and electric buses.

NTPC aims to achieve 60 GW of renewable energy capacity by 2032.

India Gets Additional $1.5 Bn from World Bank to Develop Low-Carbon Energy Infrastructure

The World Bank has granted USD 1.5 billion in financing to help India expedite the development of low-carbon energy infrastructure.

The financing for the operation includes a $1.46 billion loan from the International Bank for Reconstruction and Development (IBRD) and a $31.5 million credit from the International Development Association (IDA).

This funding aims to boost low-carbon energy by scaling up renewable energy and producing green hydrogen, among other initiatives. India, as the fastest-growing large economy globally, faces the challenge of decoupling economic growth from emissions growth. To achieve this, the World Bank's support focuses on:

• Green Hydrogen: The operation aims to promote the development of a vibrant market for green hydrogen, which is critical for decarbonization.
• Renewable Energy: Scaling up renewable energy is essential, especially in hard-to-abate industrial sectors.
• Climate Finance: The financing will stimulate climate finance for low-carbon energy investments, supporting India's transition toward cleaner energy sources.

This strategic investment aligns with India's net-zero target and will create clean energy jobs in the private sector. By FY25/26, the reforms supported by this operation are expected to result in the production of at least 450,000 metric tons of green hydrogen and 1,500 MW of electrolyzers annually. Additionally, it will significantly increase renewable energy capacity and contribute to reducing emissions by 50 million tons per year.

Impact on India's energy sector

The World Bank's additional financing of USD 1.5 billion will significantly impact India's energy sector by accelerating its transition toward a low-carbon economy. Here are the key areas of impact

1. Green Hydrogen Development: The funding will promote the development of a vibrant market for green hydrogen. Green hydrogen, produced using renewable energy, has immense potential for decarbonization and can be used in various sectors, including industry and transportation.

2. Renewable Energy Scaling: India aims to scale up its renewable energy capacity. The financing will support projects that enhance solar, wind, and other renewable energy sources. This will contribute to reducing greenhouse gas emissions and improving energy security.

3. Clean Energy Jobs: The investment will create jobs in the private sector related to clean energy production, distribution, and technology development. This will boost employment opportunities and contribute to economic growth.

4. Emission Reduction: By FY25/26, the reforms supported by this operation are expected to result in the production of at least 450,000 metric tons of green hydrogen and 1,500 MW of electrolyzers annually. Additionally, it will significantly reduce emissions by 50 million tons per year.

Overall, this funding aligns with India's net-zero target and supports the country's efforts to transition to sustainable and cleaner energy sources.

In India's Largest, Reliance To Lead ~ $12 Bn Investment in Green Hydrogen, Ammonia Units at Kandla

Reliance Industries Ltd (RIL), along with Larsen and Toubro (L&T), Greenko Group, and Welspun New Energy, is planning to establish green hydrogen and green ammonia units at Gujarat’s Deendayal Port Authority (DPA) in Kandla. RIL will reportedly lead this ambitious project, estimated to attract investments of up to Rs 1 lakh crore (approximately USD 12 billion), marks one of the largest investments in India's energy infrastructure.

The Kandla Green Hydrogen Hub aims to become one of the largest green hydrogen projects in India. It will be located at Gujarat’s Deendayal Port Authority (DPA) in Kandla. The project involves collaboration among major industry players — RIL, L&T, Greenko Group, and Welspun New Energy.

In October of last year, the DPA had received expression of interest for 14 land parcels, each measuring 300 acres, for this project.

DPA offered 14 plots with around 4,000 acres of land in total. Of this, RIL has been allotted six plots, L&T has been allotted five, Greenko Group has bagged two and Welspun New Energy has been allotted one plot. These four companies had bid the highest in the auction.

These allotments were made based on the highest bids in the auction.

Production Targets

The Kandla port aims to produce 7 MTPA of green ammonia and 1.4 MTPA of green hydrogen.

Green hydrogen is produced by electrolysing water using power from renewable energy sources, without emitting greenhouse gases. It is a crucial step toward achieving net-zero emissions.

Ammonia plays a pivotal role in producing green hydrogen at scale.

India's National Green Hydrogen Mission aims to position the nation as a leading global center for green hydrogen production.

The Ministry of Ports, Shipping & Waterways (MoPSW) identified and nominated DPA, Paradip Port in Odisha, and VO Chidambaranar Port in Tamil Nadu for development as hydrogen hubs capable of handling, storing, and generating green hydrogen by 2030

This project represents a significant step toward sustainable energy and has the potential to create substantial job opportunities. The formal announcement is expected after the general elections in June.

 

Foxconn Partners Albamen Capital to Establish A Green Energy Asset Management Company

Hon Hai Technology Group (Foxconn) partnered with Albamen Capital, a private equity infrastructure investment manager, to establish a green energy asset management company and propose a green energy development fund in China. The partnership is worth RMB 2 billion.
The two companies will form a renewable energy joint venture investment platform and a target size RMB 7 billion green infrastructure fund, aimed at accelerating Foxconn’s supply chain toward its net zero goals.

The JV investment platform will have a total equity capital of RMB 2 billion and aims to acquire operating renewable energy and related infrastructure assets across China, with the ultimate goal of generating 2 terawatt-hours (TWh) of renewable energy every year.

The two parties also plan to form a green infrastructure fund with a target size of RMB 7 billion to invest in a portfolio of renewable energy development projects such as solar power, wind power, energy storage and related infrastructure. Once fully invested and operational, the portfolio will generate circa 6 TWh of renewable energy per year. By tapping the green infrastructure fund, Foxconn’s upstream supply chain will have a pathway to clean energy.

Facing the urgent challenges of global climate change and energy sustainability, Foxconn deeply understands the key role it plays in achieving net-zero goals in the global technology industry supply chain. The Group has pledged to achieve net-zero emissions in the value chain by 2050, a move that has been welcomed by institutional investors and stewardship providers engaging with the company through the Climate Action 100+ initiative. Foxconn’s near-term emission reduction pathway has been validated under the Science Based Target initiative (SBTi). By the end of last year, Foxconn’s renewable energy ratio exceeded 40%.

Foxconn has pledged to reduce greenhouse gas emissions by 42% by 2030, and achieve net zero emissions by 2050. As a major supplier of Apple, Foxconn has also been required to shift to renewable energies and minimize the environmental impacts of its factories.

Albamena Capital Partners, also known as Albamen, is a private equity infrastructure investment firm that focuses on digital infrastructure and renewable energy in China. The firm is based in Hong Kong and Central, and emphasizes secular infrastructure themes and embedded ESG practices. Albamen Capital Partners has spun off from JIDA Capital, and its investments include data centers, renewable energy, and other infrastructure assets.

Adani To Invest $100 Bn in Green Energy Transition Over 10 Years

• Five Portfolio companies at forefront of India’s green energy transition, having set a target to become net zero by 2050
• Adani portfolio businesses have active strategy to decarbonise, pledge to plant 100 million trees by 2030, and undertake innovative pilot projects, including development of hydrogen Fuel Cell Electric Truck
• Embarking on developing one the world’s most ambitious green hydrogen ecosystem supported by a fully integrated value chain on the west coast of Gujarat

Adani Group, India’s largest integrated infrastructure developer, has released its half-yearly ESG compendium, showing significant progress in its decarbonization pathway and its ambition to support the global net zero journey. The group has set a target to become net zero by 2050 or earlier for five of its portfolio companies — Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC and Ambuja Cements. The Portfolio businesses are actively sourcing renewables, electrifying operations and adopting biofuels, and deploying waste heat recovery and energy storage technologies.

The roadmap to the net zero transition will require last mile green hydrogen solutions. To make green hydrogen adoption feasible, Adani’s track record in largescale renewables and fully integrated manufacturing with end-to-end EPC capability — all in one single location — uniquely positions it to lower costs. The portfolio companies will be investing USD 100 billion over the next decade towards achieving energy transition.

ESG highlights for H1 FY24

The striking advancements made by Adani Portfolio companies on the ESG front are listed below:

Adani Energy Solutions

Adani Electricity Mumbai, a subsidiary of Adani Energy Solutions, has increased its renewable energy share in the overall mix to an impressive 38.3%, positioning Mumbai as leading procurer of RE amongst all megacities. This was made possible by the collaboration between portfolio companies Adani Energy Solutions (which owns the Mumbai distribution business) and Adani Green Energy.

Adani Energy Solutions received an impressive score of 86% from CSRHUB, a leading ESG global performance rating agency. With this, AESL’s score surpassed the Electric & Gas Utilities industry average of 911 companies.

Adani Green Energy

Adani Green Energy is the highest rated utility company in the world as per Sustainalytics. In the first half of the financial year, the renewable power company achieved zero waste to landfill for all operational sites and turned net water positive at all sites of 200 MW or more.

Adani Ports & SEZ

Adani Ports, which owns 15 ports and logistics business, is well on track to turn net zero by 2040. In the first half of FY24, it achieved a 15% share of renewables in the total energy mix, reduced energy intensity by 46%, energy emission by 48% and water consumption intensity by 59%.

Adani Enterprises

Adani Enterprises is building three giga-factories with a target to develop 10 GW Solar Panels, 10 GW Wind Turbines, and 5 GW Hydrogen Electrolysers as part of its low cost integrated green hydrogen project. For solar module manufacturing, the glass factory is completed, with work commencing on the ingot and wafer plant. In October, the company commenced production of India’s largest wind turbine of 5.2 MW.

ESG Innovations

Proactive experimentation with green hydrogen-based decarbonization solutions are being conducted in anticipation of wider adoption as costs come down.

• To promote reduced emission and promote sustainable energy, Adani Power partnered with IHI Corporation and Kowa company to explore ammonia co-firing at the Adani Power Mundra plant. The studies aim at initially de-carbonizing Adani’s coal fired plants but with a larger objective to implement the technology in other coal-fired plants across India.
• In another significant move, Adani Enterprises entered into an agreement with Ashok Leyland and Ballard Power to develop a hydrogen Fuel Cell Electric Truck (FCET) for mining logistics and transportation, which will be Asia’s first and one of the few companies globally to operate green hydrogen-powered mining trucks. The launch of the FCET in India is scheduled for 2023, marking a significant milestone in advancing a hydrogen economy and positioning India at the forefront of the emerging technology.
• To further support decarbonization, the Adani portfolio has pledged to plant 100 million trees by 2030.

Tata Power Lights up 27,000 Homes with Green Power in Mumbai; Resulting in 270 MUs of Green Power Consumption Equivalent to Offsetting 200 Kiloton of CO2 Annually

• Sets a new norm in sustainable celebrations with 6,274 consumers adopting Green Power during the festive season
• Tata Power installs 1.25 lakh smart meters in the city to encourage energy efficiency and conscious consumption of electricity; aims to cover all its 7.5 lakh consumers by FY25

Tata Power, the first power utility in Maharashtra to offer a green power tariff, inspired over 27,000 Mumbai consumers to switch to renewable energy.

A special initiative for Green Power adoption was launched this festive season encouraging consumers to opt for clean and green power to illuminate their homes. The initiative was a resounding success with 6,274 new consumers opting to become green champions.

The Green Power movement led to ~270 MUs of green power consumption which is equivalent to offsetting 200 kilotons of carbon emissions annually. Our 3,576 consumers belonging to the 0-100 unit's category, are leading this energy transition with delight and setting the perfect example for consumers in other categories to adopt Green Power for the future.

At a marginal cost over and above the existing tariff, consumers are empowered to choose the proportion of renewable energy in their consumption, ranging from 25% to 100%. Tata Power is committed to sourcing green power for its consumers from its wind and solar plants across the country.

"Tata Power is a leader in the Distribution domain, with approximately 13 million consumers across the country. We have launched several sustainable initiatives like Green Tariff, ESCO services, Smart Metering, DSM programs et al to encourage consumers to opt for energy efficiency and conservation. Our Mumbai consumers are a shining example of how green practices can be made mainstream. Their collective commitment towards Lifestyle for Environment (LiFE) will encourage others to follow suit." Said Mr Sanjay Banga, President, T&D, Tata Power.

With its consumers, Tata Power is co-creating a legacy of sustainability and innovation and transforming the power distribution landscape in the country with its green energy solutions and services.

"We are thankful to our Mumbai consumers for always being our partners in our green initiatives. With 27,000 and growing green consumers and 1.25 lakh smart meters installed, we are well-poised to becoming a leader in green power supply and smart metering in the city. " said Mr. Nilesh Kane, Chief- Mumbai Distribution, Tata Power.

Tata Power aims to install smart meters for all its 7.5 lakh consumers in Mumbai by FY25. The smart meters enable energy efficiency leading to cost savings for its users. The consumers can access real-time data of power consumption and analytics through a web portal and a mobile application. They can also opt for either prepaid or post-paid metering without any additional charges.

It is worth noting that Tata Power was the first utility in Maharashtra to offer a green power tariff to its consumers, as approved by the Maharashtra Electricity Regulatory Commission (MERC) in its order dated April 2021. Tata Power Mumbai Distribution is committed to providing reliable, affordable, and sustainable power to its consumers and stakeholders.

Sterlite Power Acquires Beawar Transmission Ltd Project from REC

The project was awarded to Sterlite Power through the Tariff Based Competitive Bidding (TBCB) process in August 2023.

Sterlite Power, a leading power transmission developer and solutions provider in India and Brazil, announced the acquisition of Beawar Transmission Limited, a Special Purpose Vehicle (SPV) from REC Power Development and Consultancy Limited – a wholly owned subsidiary of Rural Electricity Corporation. The project was awarded to Sterlite Power through the Tariff Based Competitive Bidding (TBCB) process in August 2023.

Through the Beawar Transmission Limited SPV, the company will build the Green Energy Corridor project on BOOT (build, own, operate, transfer) basis, for a period of 35 years. This is Sterlite Power’s nineteenth power transmission project in India under the TBCB process. With this project, Sterlite Power has ~INR 12,000 cr of projects under management.

Speaking on the development, Pratik Agarwal, Managing Director, Sterlite Power said, “Sterlite Power is proud to be building the green energy corridor that will enable the flow of 20 GW of renewable energy. We are committed to delivering this critical infrastructure project on time and to the highest standards of quality and safety.”

1. Beawar Transmission Limited will entail construction of three integral components – a 350 km 765kV transmission corridor connecting the renewable energy zone of Fatehgarh III to the substation at Beawar,
2. Construction of a 3000 MVA 765/400kV Substation at Beawar, and 3) construction of two LILO lines, covering approximately 120 km. Sterlite Power will be the first private transmission infrastructure developer in the country to implement a STATCOM.

Earlier this year in March 2023, Sterlite Power won Part G Phase III of the project, titled Fatehgarh III Beawar Transmission Limited. With the completion of both Part F and G, the transmission line will be amongst the largest Green Energy Corridors to be built in the country.

About Sterlite Power:

Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with a robust portfolio of 32 completed, sold and under construction projects covering approximately 15,350 circuit Kms of transmission lines across India and Brazil. Sterlite Power also has a robust portfolio of high-performance power conductors, extra-high voltage (EHV) cables and optical ground wires (OPGW). The Company provides bespoke solutions for the upgrade, uprate, and fiberization of existing transmission infrastructure projects. Advancing the carriage toward a green energy-efficient future, Sterlite Power has an increasing focus on integrating renewable energy into the grid. It is the first transmission player to launch InvIT in the power sector, listed on the BSE Limited and the National Stock Exchange of India Limited. The Company has been recognized as the ‘Power Transmission Company of the Year’ at The Economic Times Energy Leadership Summit 2023 and is a recipient of international awards from S&P Platts as well as International Project Management Association (IPMA).

For more details, please visit https://www.sterlitepower.com/

Decarbonization Platform Serentica Secures ₹ 2600 Cr Funding from PFC for its Renewable Energy Projects

Funding from PFC will go towards the development of Serentica’s upcoming 400 MW hybrid renewable energy projects in Karnataka

Funding from PFC will go towards the development of Serentica’s upcoming 400 MW hybrid renewable energy projects in Karnataka

Serentica Renewables (“Serentica” or the “Company”), a leading C&I focused renewable energy developer in India, announced that it has achieved financial closure for its upcoming hybrid renewable energy projects in Karnataka. The company has secured the entire debt funding of INR 2600 crores from one of India’s largest power sector lenders, Power Finance Corporation Limited (PFC Ltd.).

To ensure the round-the-clock green energy needs of its customers, cumulatively, Serentica will install 4 GW of renewable energy capacities across the country. In the state of Karnataka, the company is setting up 400 MW of wind and solar capacities where it has already secured connectivity to the inter-state transmission system (ISTS). 

Commenting on the financial milestone, Mr. Pratik Agarwal, Director, Serentica Renewables said, "The debt funding from PFC will accelerate our journey towards supplying 40 billion units of clean energy annually to energy intensive industries and displacing 37 million tonnes of carbon emissions.” 

Commenting on the financial transaction, Smt. Parminder Chopra, Chairman & Managing Director, PFC said, “This transaction is in line with PFC’s expanding role in funding green projects and position itself as the focal agency for energy transition.”

To recall, in July Renew Power, India's largest renewable energy company by operational capacity, secured funding of ₹64000 Crore ($7.8 billion) from PFC and REC to develop renewable energy projects in the country. In the same month, REC Limited (REC), of which PFC is holding company, commited Rs 3,000 crore in GreenCell Mobility, a pan-India shared electric mobility player, for sustainable transportation in the country.

With a vision to accelerate the clean energy transition of hard-to-abate industries, the overall portfolio will supply more than 9 BUs of clean energy annually, thereby offsetting 8.5 million tonnes of CO2. Serentica’s vision is to supply over 40 billion units of clean energy annually in the medium term and displace 37 million tonnes of CO2 emissions. 

To fuel its growth commitments, Serentica signed definitive agreements with leading global investor KKR in November 2022. KKR’s total $650 million commitment to the company, which includes the latest $250 million investment deal, represents one of the largest decarbonization investments in India to date. With the closure of debt funding from PFC, the company has been able to forge relationships with India’s largest power sector financing institutions. This is a testimony of the trust reposed on the company by the banking and investor community.

Established in 2022, Serentica Renewables (India) is a decarbonization platform that looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial and industrial segment which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions. Serentica’s medium term goal is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions. The company has already secured investments worth $650 million from leading global investor KKR. 

Bharat Petroleum (BPCL) To Invest ₹1.5 Trillion in Next 5 Yrs Towards Project Aspire; Draws Net-Zero Roadmap with Additional Capital Outlay of ₹ 1 Lakh Crore

BPCL plans to invest ₹1.5 Lakh Crore in the next Five years towards Project Aspire; Draws Net-Zero Roadmap with additional capital outlay of ₹ 1 Lakh Crore

Bharat Petroleum Corporation Limited (“BPCL”), a prominent 'Maharatna' and Fortune Global 500 Company, unveiled its ambitious roadmap for the next five years at the 70th Annual General Meeting (AGM) held today. “The company has planned a capex outlay of around ₹ 1.5 Trillion or ₹ 1.5 Lakh Crore ( ~ $18 billion) in the next five years. We believe this will enable BPCL to create long-term value for its stakeholders while preserving the planet for future generations”, said G. Krishnakumar, Chairman & MD, BPCL.

Speaking at BPCL's annual shareholders meeting, Mr. Krishnakumar said, “We have consciously taken deliberate steps in reassessing and re-prioritizing our focus areas in light of the latest industry trends and governmental policies. Introducing 'Project Aspire' - our new strategy that is built on eight pivotal pillars. These pillars are clubbed under two main themes: 'Nurturing the Core' and 'Future Big Bets'. 'Nurturing the Core' has three foundational pillars: Refining, Marketing and Upstream. 'Future Big Bets' is anchored on five key areas: Gas, Non-fuel Retailing, Petrochemicals, Green Energy Businesses, and Digital Ventures. This aspiration is our roadmap to the future, and together, we will journey through this transformative era.”

Mr Krishnakumar – Chairman & MD, BPCL

BPCL has recently approved an Ethylene Cracker Project at Bina. With an investment of ₹ 49,000 crores, this project marks a historic milestone as the largest single investment in BPCL's history. As a part of the project, the capacity of Bina Refinery is being enhanced from 7.8 MMTPA currently to 11 MMTPA, which is expected to go a long way in securing BPCL’s markets in the Northern and Central India. “We believe that this project will drive the production of essential petrochemicals - increasing the share of petrochemicals in BPCL’s product portfolio to approximately 8%. This investment dovetails well with the government mission to make India a self-reliant and globally competitive petrochemical manufacturing hub.”, added Mr. Krishnakumar.

“With an aim to expand BPCL’s infrastructure network, BPCL will be setting up POL (Petroleum Oil & Lubricants) & LOBS (Lube Oil Base Stock) installations along with receipt pipelines at Rasayani, with investments of approximately ₹2,753 crore. This is expected to debottleneck the evacuation of products from Mumbai Refinery and ensure seamless supplies, particularly to the Northern markets”, said Mr. Krishnakumar.

BPCL is also diligently expanding its CGD networks across 25 Geographical Areas covering 62 districts in the country.

Towards achieving net-zero emissions by 2040 for both Scope 1 & Scope 2 emissions, BPCL has drawn a net-zero roadmap which encompasses the Green Energy Businesses, Carbon Capture, Utilization, and Storage (CCUS), efficiency improvement, and the offset procurements. This would require an estimated phased capital outlay of approximately ₹ 1 lakh crore till 2040 and BPCL is geared for the same.

In E-Mobility, BPCL plans to provide electric vehicle charging facilities at 7,000 energy stations in the next five years. Certain highways are already equipped with BPCL’s Rapid Charging EV Corridors.

In the Biofuel space, having achieved 10.6% ethanol blending in petrol in 2022-23, BPCL plans to increase the blending to 12% in FY 2023-24 and endeavors to reach 20% blending by 2025. BPCL is also setting up an integrated 2G + 1G Ethanol Bio-refinery at Bargarh, Odisha which is scheduled for completion by March 2024.

In the renewables space, BPCL aspires to build 1 gigawatt (GW) of renewable energy capacity by 2025 and 10 GW by 2040 - through both organic and as well as inorganic routes. BPCL will be investing approximately ₹ 1,000 crore to set up two 50MW captive wind power plants in Maharashtra and Madhya Pradesh to support the refineries in Mumbai and Bina.

In line with the government efforts towards boosting Green Hydrogen capacity, BPCL is also setting up a Green Hydrogen Plant at the Bina Refinery to meet the hydrogen requirements of the refinery.

Speaking about BPCL’s plans for the forthcoming rights issue, Mr. G. Krishnakumar said, “The initiatives under Project Aspire and the Net-Zero targets require substantial investments and the same are proposed to be funded through a combination of equity and debt, in addition to internal generations. In pursuit of this, BPCL has proposed a rights issue of equity capital of upto ₹ 18,000 crore towards funding of projects relating to Energy Transition, Net Zero and Energy Security Objectives”.

About Bharat Petroleum Corporation Ltd. (BPCL):

Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the elite club of companies having greater operational & financial autonomy.

Bharat Petroleum’s Refineries at Mumbai, Kochi and Bina Refinery have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, energy stations, aviation service stations and LPG distributors. Its distribution network comprises over 21,000 Energy Stations, over 6,200 LPG distributorships, 525 Lubes distributorships, 123 POL storage locations, 53 LPG Bottling Plants, 70 Aviation Service Stations, 4 Lube blending plants and 4 cross-country pipelines.

Bharat Petroleum is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet. The company has chalked out the plan to offer electric vehicle charging stations at around 7000 energy stations over next 5 years.

With a focus on sustainable solutions, the company is developing a vibrant ecosystem and a road-map to become a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting innumerable initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With ‘Energising Lives’ as its core purpose, Bharat Petroleum’s vision is to be the most admired global energy company leveraging talent, innovation & Technology.

Germany’s Bioenergy Ties with Noida-based Gruner Renewables To Introduce India's 1st Napier Grass Bio CNG Plant

Bio Energy, a German company that provides technology and engineering design for biomass-based gas plants, has partnered with Noida-based Gruner Renewable Energy (GRE), to Enter India market.

Founded by Uttkarsh Gupta, GRE is sustainable energy company that creates renewable fuel from biomass and bio wastes. The partnership with BioEnergy Germany will introduce India's first Napier Grass Bio CNG Plant.

On Sunday, GRE and BioEnergy Germany signed the partnership agreement to develop 100 BioCNG plants using multiple feedstocks like Napier grass, in India.

Napier grass, elephant grass or Uganda grass, is a species of perennial tropical grass native to the African grasslands. It is specifically stored for the production of biofuels and bio-based products, primarily due to its high cellulose content (34.2-40%), high yields per unit area and drought tolerance.

The Napier grass based bio CNG plant is scheduled to be completed in November and is coming up in Lasanpur Village, Wardha district of Maharashtra. With completion of this state-of-the-art plant, a significant milestone will achieved for India's quest for cleaner and greener energy solutions.

The plant is said to be inspired by the Union transport minister Nitin Gadkari’s speeches, and is claimed to be the country’s first bio-CNG plant using Napier grass as feedstock.

Till date, Napier grass is mainly used in India as a fodder crop, used as feed to the cattle directly or made as hay or even silage to feed farm animals.

The upcoming plant in Maharashtra will not only provide a clean and reliable energy source but will also promote agricultural sustainability and provide new avenues for rural development.

The 20-year-old BioEnergy has built over 300 plants in 12 countries and is currently building the world’s biggest one, in Malawi in southern Africa (where the gas will fuel a 56 MW power plant). BioEnergy has experience in handling 580 types of feedstock.

In India, the reported annual production yield of Napier grass ranges from 150-200 tonnes per acre per year, which is significantly higher (25-35 tonnes per hectare) compared to other energy grasses like miscanthus and switchgrass.

This fast-growing Napier grass can reach a height of 10-15 feet and can be harvested 5-6 times annually.

In February this year, Delhi based CEF Group announced of setting up multiple waste processing plants in various locations in Uttar Pradesh to address the problem of waste mismanagement and augment bio-fuel production, utilising Napier grass as one of the sources for bioenergy. The group is investing ₹650 crore for the same.

Late last month, the GOBARdhan initiative of the Union Government, has said that in a short span of just 60 days, over 1200 plants including 320 CBG plants and 892 Biogas plants, spread across the length and breadth of the country, covering as many as 450 districts have been registered on the GOBARdhan portal.

ReNew Power Secures $7.8 Bn Funding for Green Energy Projects Across India

Gurugram-headquartered Renew Power, touted as India's largest renewable energy company by operational capacity, has secured funding of ₹64000 Crore ($7.8 billion) from two Government departments — PFC and REC — to develop renewable energy projects in the country.

ReNew on Friday said it has signed memorandums of understanding (MoUs) worth ₹64,000 crore, or $7.9 billion, with Central government’s power project financing arms PFC and REC, for its current and future green energy projects.

The funding will support ReNew in meeting its financing needs and enable the company to raise long-term financing for large-scale green energy projects.

At the Clean Energy Ministerial meeting held in Goa, the MoUs were signed with the lenders and according to these MoUs the NASDAQ-listed ReNew will receive ₹32,000 crore (around $3.9 billion) each from PFC and REC for financing its current and upcoming energy transition projects.

ReNew, which is aiming to increase its total solar capacity to 5.5GW, currently has three solar under construction projects in India, with a combined capacity of 110MW.

According to a media reports, projects of a total of 8 gigawatts (GW) have already been commissioned by ReNew.

In addition to these, another 6 GWs of projects are underway. ReNew has also won a 3 GW portfolio of projects. The funding is to be allocated toward this 9 GW of projects, which includes solar, wind power, green hydrogen, battery storage and cell manufacturing, said a media outlet citing one of the sources.

Power Finance Corporation Ltd. (PFC) is an Indian central public sector undertaking under the ownership of the Ministry of Power, Govt of India. It is the financial backbone of Indian power sector.

REC Limited (REC), formerly Rural Electrification Corporation Limited, of which PFC is holding company, finances and promotes power projects across India.

PFC is also one of the promoters in Energy Efficiency Services Limited (EESL), with NTPC, Powergrid and REC being the other promoters.

NITI Aayog Releases IIT Bombay-designed Analytical Tools for Managing Climate Change and Exploring Net Zero Pathways

IESS is a user-friendly and Interactive Energy Modelling tool that takes into account the Green Policy Initiatives and explores Possible Decarbonisation Pathways towards Net-Zero

A Revamped India Energy Security Scenarios (IESS) 2047 (IESS 2047 V3.0) to assess the integrated impact of various green energy policies of Government of India was released by NITI Aayog on Thursday.

An open-source tool, IESS incorporates several policies related to alternative energy resources like Green Hydrogen, Energy Storage, Renewable Purchase Obligations, PM-KUSUM, offshore wind strategy, Electric Vehicle policy, Energy efficiency, etc. Assessing the demand and supply of energy in the country, the tool helps in analysing emissions, cost, land, and water requirements till 2047.

The web version of the tool offers user-friendly graphical representations of energy demand and supply scenarios for the country based on user choices. The results of some of the illustrative scenarios from IESS are shown below:

With an aim of making this technology available to the people, this version of IESS is easily downloadable and facilitates users to generate their own pathways. It will help researchers and think tanks to develop user-specific scenarios and the option of customised applications on the basis of share of industry/services/agriculture, population, the pace of urbanisation, end-use energy demand etc.

IESS 2047 is a user-friendly interactive tool that can help ministries/ departments to develop a variety of energy transition scenarios to achieve net-zero. The tool is flexible enough to provide many permutations and combinations of net-zero pathways. It provides capabilities to compute the energy needs and estimates of the country and hence reduce India’s dependency on external agencies for the estimates.

Designed with the help of IIT Bombay, the revamped IESS 2047 will be updated on yearly basis. The baseline has been standardised at 2020 and calibrated up to 2022.

Shri Suman Bery, Vice Chairman, NITI Aayog appreciated the indigenization of IESS 2047 and termed the tool a big facilitator in achieving net-zero target by 2070.

Shri BVR Subrahmanyam, CEO, NITI Aayog termed IESS as a national asset and an outstanding example of the research and development being undertaken at NITI Aayog. Emphasising upon the fine balance between justified growth aspirations and sustainability, he said that it is important to have such tools and data platforms for holistic planning and policy making at national and state level.

Decarbonisation Platform Serentica Renewables Signs 1.25 GW Round-The-Clock Green Energy Agreements

The Company will install 4GW of renewable capacities that will help in offsetting 8.5 million tonnes of CO2 emissions annually

Serentica Renewables ("Serentica" or the "Company") announced that it has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. This is in addition to the 580 MW PDAs that were signed in March 2023.

To ensure the round-the-clock green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country. The projects will deploy both wind and solar capacities, supplemented with balancing solutions like energy storage. Serentica is setting up these solar and wind capacities across the states of Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS).

With a vision to accelerate the clean energy transition of hard-to-abate industries, the overall portfolio will supply more than 9 BUs of clean energy annually, thereby offsetting 8.5 million tonnes of CO2.

Speaking on the significant increase in the Company's portfolio, Akshay Hiranandani, CEO of Serentica Renewables, said, "India's energy transition must progress unabated to meet the dual objectives of its ever-increasing energy requirements and the fight against climate change. Serentica's growing portfolio of renewable energy assets is a testament to its commitment to address the toughest challenges of clean energy delivery and decarbonize India's industrial backbone."

Serentica is focused on industrial decarbonization and aims to provide assured, renewable energy through a combination of solar, wind, energy storage, and balancing solutions. Serentica's medium-term goal is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions.

About Serentica Renewables  

Established in 2022, Serentica Renewables (India) is a decarbonization platform that looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial and industrial segment which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions. The company has already secured investments worth $650 million from leading global investor KKR.

For more details on Serentica, please visit www.serenticaglobal.com

In Asia's Largest Ever By Green Energy Co. Avaada Group Closes Historic $1.3 Bn Funding Round

Avaada Group, a leading integrated energy platform, has announced the successful closure of INR 10,700 crore ($1.3 billion) funding round, marking a historic moment for the green energy industry in Asia and India's renewable energy sector. This funding round is the largest equity round ever raised by any green energy company in Asia.

The funding will be used to bolster Avaada's green hydrogen, green methanol, green ammonia, solar manufacturing and renewable power generation ventures, as part of India's commitment to a sustainable future. This achievement underscores the effectiveness of government policies encouraging investment in green energy and the global transition towards sustainable energy solutions.

In April, Avaada Group raised $1.07 billion from Brookfield Renewable and Global Power Synergy Public Company Limited (“GPSC”).

In a significant boost to its solar manufacturing capabilities, Avaada Group had previously won a production-linked incentive of INR 961 crore ($116.78 million) for 3 GW of wafer-to-module capacity under the PLI Scheme. This win, coupled with the successful funding round, further solidifies Avaada's position as a leader in the renewable energy sector and underscores its commitment to harnessing green energy for a sustainable future.

Adding to its list of achievements, Avaada Energy Private Limited has won several tenders, amounting to almost 1.8 GW, in the last three months from corporate customers and utilities. This success demonstrates Avaada’ s ability to meet the growing demand for renewable energy and its commitment to delivering high quality, sustainable energy solutions.

Brookfield Renewables, through its Brookfield Global Transition Fund (BGTF), has earlier committed to investing up to INR 8,225 crore ($1 billion) in Avaada Ventures Private Limited. In addition, Global Power Synergy Public Company Limited (GPSC), an existing shareholder with a 42.93% equity holding in Avaada Energy Private Ltd (AEPL), has pledged to increase its capital by investing an additional INR 1,917 crore ($233 million) in AEPL, further supporting the company's growth. This follows GPSC's previous investment of INR 558 crore ($68 million) in AEPL in April, bringing their total investment in Avaada to around INR 6,037 crore ($779 million).

This successful funding round is a testament to India's commitment to choosing innovation and technology over traditional energy sources. The country stands at a pivotal moment, with the potential to grow using either conventional energy or the latest green technologies. The choice of the latter is creating enormous opportunities through the global transition fund.

Vineet Mittal, Chairperson and Founder, Avaada Group, commented: “This funding round marks a significant milestone in Avaada Group's journey and India's energy transition. We are grateful for the support from our investors and the Indian government, which is enabling us to contribute to the global energy transition and deliver on our promise of a sustainable future."

Mr. Worawat Pitayasiri, President and CEO of Global Power Synergy Public Company Limited (GPSC), said “Our decision to invest further in AEPL is based on our confidence in their strategic approach to the renewable energy sector, aiming to achieve at least 11 GW in 2026. AEPL’s commitment to renewable power generation aligns well with our own focus on sustainable growth and innovation.”

Avaada Group has diversified into manufacturing Green Hydrogen, Green Methanol, Green Ammonia, and expanded its footprint into the Solar PV supply chain with the manufacturing of solar cell and module. The company currently operates a renewable energy portfolio of ~4 GW and around 7 GW in different stages of implementation.

About Avaada Group

Social entrepreneur Vineet Mittal-led Avaada Group is an integrated energy platform with business interests ranging from manufacturing solar cells, modules and electrolysers to renewable power generation, green hydrogen, and green ammonia production. Avaada Group’s flagship company Avaada Energy is India’s fastest-growing renewable energy IPP. Within five years, it has developed an impressive portfolio of 4 GW and the firm plans to reach 11 GW by 2026 and 30 GW by 2030. GPSC is a 42.93% equity partner in Avaada Energy, the renewable arm of the Avaada Group.

The solar manufacturing business of Avaada is in the advanced stages of developing a manufacturing facility for wafer, cell, and modules. The group is also executing Green Ammonia projects across multiple geographies and plan significant capacity addition to meet the domestic and international demand for the clean fuel through a separate business vertical.

Avaada Group Raises $1.07 Bn to Fund Its Green Hydrogen and Green Ammonia Ventures

Avaada Group today announced that it has raised US $ 1.07 billion to fund its green hydrogen and green ammonia ventures in India as a part of its ongoing US$ 1.3bn fund raise plan.

Brookfield Renewable, through its Brookfield Global Transition Fund (BGTF) will be investing up to US $ 1 billion in Avaada Ventures Private Limited.

Global Power Synergy Public Company Limited (“GPSC”), will further invest US $ 68 million in Avaada Energy Private Limited for releasing debt obligations and supporting the growth. 

The Group is also in advanced discussions with potential investors to raise another US$ 200 million.

Avaada Group has become future-ready in the global Energy Transition theme and has diversified into manufacturing of Green Hydrogen, Green Ammonia. The Group has also expanded its footprint into the Solar PV supply chain with manufacturing of solar cell and module. Avaada currently operates a renewable energy portfolio of ~4 GW with plans to reach 11 GW by 2026. 

Avaada has recently won a bid under Production Linked Incentive (PLI) scheme launched by the Government of India for setting up 3 GW ingots, cell, and module manufacturing facility.

Vineet Mittal, Chairperson and Founder, Avaada Group commented: “Avaada Group is a leading player in energy transition in India, building an integrated ‘Sand to molecule’ business aligned for the global energy transition towards decarbonization. I am delighted to welcome Brookfield to join us in our next phase of growth. The collaboration will support us in pursuing exciting opportunities as we play a critical role in meeting the exponential growth of sustainable energy and position ourselves at the forefront of the global energy transition. I’m also thankful to GPSC for their continued support in fulfilling our mission of delivering promise of a sustainable future for posterity.”

Nawal Saini, Managing Director, Renewable Power & Transition, Brookfield added, “We are pleased to be investing in Avaada through the Brookfield Global Transition Fund, which focuses on investments that accelerate the progress to a net-zero carbon economy. This strategic partnership will leverage Brookfield’s global track record, access to capital and operational expertise alongside Avaada’s strong local footprint, to enable their vision for the energy transition business. Brookfield remains committed to supporting the next generation of clean energy technologies and contributing to India’s net-zero aspirations. “

About Avaada Group:

Social entrepreneur Vineet Mittal-led Avaada Group is an integrated energy platform with business interests ranging from manufacturing solar cells, modules and electrolysers to renewable power generation, green hydrogen, and green ammonia production. Avaada Group’s flagship company Avaada Energy is India’s fastest-growing renewable energy IPP. Within five years, it has developed an impressive portfolio of 4 GW and the firm plans to reach 11 GW by 2026 and 30 GW by 2030. GPSC is a 42.9% equity partner in Avaada Energy, the renewable arm of the Avaada Group.

The solar manufacturing business of Avaada is in the advanced stages of developing a manufacturing facility for wafer, cell, and modules. The group is also executing Green Ammonia projects across multiple geographies and plan significant capacity addition to meet the domestic and international demand for the clean fuel through a separate business vertical.

About Brookfield Renewable:

Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and decarbonization solutions. Our diversified portfolio consists of hydroelectric, wind, solar, distributed energy and sustainable technology solutions across five continents. Our installed capacity totals approximately 25,400 megawatts and a development pipeline of approximately 110,000 megawatts of renewable power assets, 8 million metric tonnes per annum (“MMTPA”) of carbon capture and storage, 2 million tons per annum of recycled materials capacity and 3 million metric million British thermal units (“MMBtu”) annual capacity of renewable natural gas projects. Investors can access our portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation.

Brookfield Renewable is the flagship listed renewable and transition company of Brookfield Asset Management, a leading global alternative asset manager with approximately US$800 billion of assets under management. In India, Brookfield has over 9 GW of diversified assets across of wind, solar and hybrid assets in various stages of execution across seven different states.

About Brookfield Global Transition Fund:

The Brookfield Global Transition Fund is Brookfield’s inaugural impact fund focusing on investments that accelerate the global transition to a net-zero carbon economy, while delivering strong risk-adjusted returns to investors. Institutional investors committed US$15 billion, making it the largest fund ever raised to support the transition to net zero. The Fund targets investment opportunities relating to reducing greenhouse gas emissions and energy consumption, as well as increasing low-carbon energy capacity and supporting sustainable solutions. Consistent with its dual objectives of earning strong risk-adjusted returns and generating a measurable positive environmental change, the Fund will report to investors on both its financial and environmental impact performance.

About GPSC

GPSC, an electricity and utility flagship of PTT group with core business to generate and supply electricity, steam and utilities to its industrial customers, the Electricity Generating Authority of Thailand (EGAT) etc. The total committed equity capacity is approximately 7,227 MW of electricity, approximately 3,064 tons per hour of steam, approximately 15,400 refrigeration tons of chilled water and approximately 7,026 cubic meters per hour of processed water. The shares of GPSC are held by PTT 47.27%, SMH (PTT’s wholly-owned subsidiary) 7.96%, Thaioil or TOP (10.00%), PTT Global Chemical or GC (10.00%) and the public investors (24.77%).