Centre-run Indian Renewable Energy Agency (IREDA) sanctioned a ₹32,586 crore loan last financial year (2022-23), which grew 36.23% as compared to the previous fiscal year, the company said in a statement. The government agency under the Ministry of New & Renewable Energy (MNRE) accomplished its highest-ever annual loan sanction, loan disbursement, loan book, profit, and net worth, according to IRFEDA Chairman Pradip Kumar Das. The company achieved loan disbursement of ₹21,639 crore last financial year, a 34% growth over the previous fiscal.
Off-shore wind energy: India likely to miss 37 GW by 2030 target?
Analysts observing India’s off-shore wind energy sector said there is not much progress since the National Offshore Wind Energy Policy was first notified in 2015, Mongabay reported. The climate news portal said the government plans to bid out 37 GW equivalent of offshore wind projects by 2029-30, but there is a low probability of offshore wind projects being commissioned before 2030 as their development will take a minimum of 7-8 years. According to the experts quoted by Mongabay, the offshore sector needs clarity on several fronts, from power evacuation and financing to environmental clearances.
Govt to come out with a mandate on usage of green hydrogen
The Centre may announce a mandate on the use of green hydrogen, secretary in the ministry of new and renewable energy (MNRE) Bhupinder Singh Bhalla said. The Energy Conservation Act has been amended and now there is a legal provision to enforce the mandate he said, adding that the government is first trying to figure out whether it can collate demand, aggregate and make it more clear for the industry to set up production facilities, ET reported. Bhalla said export-related topics were also discussed during a roundtable at the International Conference on Green Hydrogen (ICGH-2023) in the Capital. Singapore, Korea and Japan along with the EU participated in the roundtable. Out of the planned green hydrogen production by 2030 under India’s green hydrogen mission, around 70% would be for export, the secretary said.
Indian Oil to convert 50% of its refineries’ hydrogen use to green by 2030
Indian Oil Corporation (IOC) plans to green 50% of hydrogen produced at its refineries by 2030. India’s largest fuel retailer, estimated it would amounts to 700,000 metric tonnes per annum (mtpa) by 2030, of which 350,000 mtpa will be converted to green the ET reported. The company’s R&D director Ramakumar also the country’s first green hydrogen plant operating on a commercial scale will be at their Panipat refinery, which will have 7,000 mtpa capacity. He said his team is working on using sea water produce green hydrogen. currently for 1kg of green hydrogen production, about 20kg of de-ionised water is required.