Clean energy Financial News

The move is aimed at 'significantly accelerating' Aquila Capital’s growth to become one of the 'leading asset managers' for sustainable investment strategies in Europe.

Dominic Johnson (pictured), minister for investment

transaction and settlement of clean energy certificates, cryptocurrency exchange DeCurret said on Thursday. GMO Aozora Net Bank will issue the yen-based digital currency, called «DCJPY», which will operate on a network launched by DeCurret. From next July, DCJPY is intended to be used by telecommunication firm Internet Initiative Japan (IIJ) for the settlement of clean energy certificates, which assign an «environmental value» to energy procured from non-fossil fuel sources. The companies plan to make these tradable using blockchain technology.

A consortium of Japanese firms is set to launch a yen-based digital currency, "DCJPY," by July 2024, that will be used in transaction and settlement of clean energy certificates.

The nation’s energy market operator will urge developers to exploit all available government schemes to get projects into construction, and to work harder on getting the backing of local communities for transmission.

British International Investment (BII) plans to invest about $1 billion in Indian climate-related projects by 2026, a top official said, drawn to the country's expanding renewable energy capacity. «We are evaluating exciting businesses in sectors such as bio-fuels, circular economy… as part of the vision for the 2030 roadmap agreed between India and the UK,» Nick O'Donohoe, CEO of BII told Reuters on Tuesday. In India, BII invested over $300 million in climate finance last year in sectors such as renewable energy, electric mobility and sustainable agriculture. Its' current portfolio in India is valued at $2.2 billion with investment in over 290 businesses. Last year, BII agreed to invest up to $250 million in automaker Mahindra and Mahindra Ltd's new electric vehicle unit. «India has produced the best returns of any geography we have invested in,» said O'Donohoe, citing buoyant stock markets and a stable political environment in the country. The company has about 8.2 billion pounds ($9.98 billion) worth of assets through its investments in around 1,500 businesses in emerging economies across 65 countries. On total portfolio investment, the company got 5% in annual return over a rolling 7-year period, he said, declining to give detail on returns on Indian investments.

Elon Musk said in 2021 that Tesla would accept Bitcoin payments once miners were using roughly 50% clean energy sources “with positive future trend” — a benchmark that may have recently been met.

Narendra Modi chose as its theme a term from Sanskrit scripture, ‘Vasudhaiva kutumbakam,’ emphasizing global unity. He had spoken of climate change, alongside terrorism and pandemics, as one of the big challenges the world faces. With the G20 leaders’ summit held over the weekend, it’s notable how quiet that green rhetoric has gotten.

Group of 20 leaders have agreed to triple renewable energy and try to increase the funds for climate change-related disasters but maintained the status quo with regards to phasing out carbon spewing coal

G20 leaders on Saturday called for a strong, sustainable, and inclusive growth as an answer to the uneven recovery the world has seen from the pandemic-infused plunder, and flagged trillions of dollar that countries would need to meet their climate goals and clean energy technologies. The New Delhi Declaration adopted at the Summit of leaders of the world's top 20 economies held under India's presidency also called for reforming of international financial institutions, managing debt vulnerabilities of low and middle-income countries and the start of exchange of tax-relevant information on crypto assets by 2027. The declaration called for accelerating efforts to phase down unabated coal power, phase-out of inefficient fossil fuel subsidies and low-cost financing for energy transition of developing countries. While developing countries need USD 5.8-5.9 trillion in the pre-2030 period for their climate goals, the world would need another USD 4 trillion per annum investment by 2030 to help reach net-zero carbon emission goal by 2050. Stating that cascading crises have posed challenges to long-term growth, the declaration called for well calibrated macroeconomic and structural policies to counter the challenge of an uneven recovery, and boost long-term growth.

By Valerie Volcovici

By David Lawder

Reliance Industries Ltd will continue to operate its refineries and petrochemical projects profitably, even as fossil fuel demand wanes due to a gradual global shift to clean energy, Chairman Mukesh Ambani said on Friday. «We have already put in place a comprehensive strategy to ensure that all our investments and all our assets remain not just safe, but actually become profitable even as fossil fuel demand wanes,» Ambani said at the group's annual shareholder meeting. He said Reliance will switch to 100% green energy for captive consumption to cut energy costs, and upgrade the output of its refineries into value added chemicals. Billionaire Ambani on Monday also announced the appointment of his three children as board directors at the oil-to-chemicals conglomerate, as he prepares to eventually hand over the reins. Reliance, the operator of the world's biggest refining complex at Jamnagar in western India, is investing 750 billion rupees ($9.08 billion) in clean energy and technologies as it seeks to become net carbon zero by 2035. The company is building four giga factories at Jamnagar to produce solar cells and modules, energy storage batteries, fuel cells and green hydrogen. "..let me assure you that both during and after energy transition, our Jamnagar refining complex and all other petrochemical complexes will continue to operate profitably," he said. Reliance aims to start commissioning facilities at its solar cell and module factory in phases from end-2025 and to set up a battery giga factory by 2026, he said, adding the plan is to install at least 100 gigawatts of renewable energy generation capacity by 2030. Ambani said Reliance's Jamnagar refining complex, which has the capability to process 1.4 million barrels

It might look like Australia is pushing ahead with the transition to wind energy, but a major player in the market believes legislative red tape is slowing down the clean energy transition to a crawl.

Tata Power Delhi Distribution on Thursday said it has fulfilled its renewable purchase obligation for the third year in a row and bought 26% of electricity from clean energy sources in 2022-23. Under the Renewable Purchase Obligation (RPO), discoms are required to source a fixed percentage of their total power purchase from renewable energy sources. ''Tata Power Delhi Distribution Ltd has fulfilled the RPO for the third consecutive year, a unique feat for any discom in the country,'' the company said in a statement.

ALBUQUERQUE (Reuters) — President Joe Biden will take his economic pitch to New Mexico on Wednesday with remarks at the groundbreaking of an Arcosa (NYSE:ACA) wind tower manufacturing facility at which the White House said he will highlight a U.S. clean energy and manufacturing boom.

The green energy sector in India is abuzz with dev... moreThe green energy sector in India is abuzz with developments.

Refining rare earths for the green energy transition is hard. Just ask MP Materials and Lynas. The world's two biggest rare earths companies outside of China are facing challenges turning rock from their mines into the building blocks for magnets used across the global economy, from Apple's iPhone to Tesla's Model 3 to Lockheed Martin's F-35 fighter jet.

Excessive heat continues to bear down on sections of the United States, a reminder of the impetus for the The Inflation Reduction Act, the significant climate legislation that turns one year old on August 16

New Delhi: Energy Efficiency Services Limited (EESL) has forged partnerships worth ₹700 crore during the recent 14th Clean Energy Ministerial (CEM) meeting in Goa, said statement from EESL. As part of the event, EESL unveiled its new Energy Efficiency Strategy crafted in close collaboration with USAID India, which reinforces its pivotal role in driving India’s net-zero aspirations.  “Additionally, EESL solidified its commitment to decarbonization by signing a strategic MOU with the United States Agency for International Development (USAID), India to shape forward-looking strategies and programs," it said.

Goa on Saturday. The outcome document on the Energy Transitions Ministers' meeting has stressed expediting the voluntary transfer on mutually agreed terms or co-development and adoption of clean, sustainable and low carbon emission energy technologies, which are often capital-intensive and necessitate low-cost financing from various sources.