As private capital powers India’s renewable energy growth, can the same momentum drive investments towards other emerging green technologies?
India’s clean transition needs $2.5 trillion by 2030.
Beyond Renewables: Unlocking Private Finance for India’s Green Future
As private capital powers India’s renewable energy growth, can the same momentum drive investments towards other emerging green technologies?
India’s renewable energy sector has thrived—raising $80 billion in private investment. But can this success be replicated across other green industries?
“Money will be available for any project in India which makes financial sense, where the investor can make around 10% returns. But projects which don’t have cashflow, that’s where climate finance is required,” says Neshwin Rodrigues, a senior analyst at the London-based energy think tank Ember.
By “money”, he’s referring to private finance, which has allowed the renewable energy sector to flourish in India. An earlier report by Carboncopy delved into how India’s renewable energy market has matured.
From an economically self-reliant perspective, India’s renewable story is important, especially at the backdrop of the disappointing COP29 climate finance negotiations last year.
Collectively, 196 countries – 44 least developed and 152 developing – demanded $1.3 trillion, but were only pledged $300 billion, which include no public funds, by 23 developed nations over the next ten years.
India’s clean transition needs $2.5 trillion by 2030. Despite this massive requirement, the world’s fastest growing major economy is understandably not high on the priority list of climate donors.
Yet, while India does not expect large grants to fund its clean transition, it does need investments and concessional loans for its industry. The country’s renewable energy sector stands as an example of the country’s capacity to offer returns to investors. The sector attracted investments worth ₹7 trillion ($80 billion) between 2013-2014 and 2022-23, Pralhad Joshi, Union minister for new and renewable energy told the Parliament earlier this month. About a quarter of India’s clean transition needs, it far exceeds the investments attracted by any other clean sector in India.
While the relative success of the green energy market in India brings with it investment opportunities, the same cannot be said for other markets of clean technologies like battery storage and green hydrogen.
These sectors will have to stand on their own economic merit. “The only thing that grid scale renewables – which stores excess electricity – can do is provide confidence by ensuring that the majority of companies grow their clean energy portfolios and are able to transition. There has to be policy support and financial incentives provided,” says Shantanu Srivastava, the sustainable finance and climate risk lead at the Institute for Energy Economics and Financial Analysis (IEEFA).
Although critical, green energy is only one component of the many adaptation and mitigation measures that developing countries need to scale up quickly and efficiently.
If historical emitters won’t pay for the warming they’ve caused, can India rely on private sector investments to fund its own transition?
Climate finance comes with limits
“Climate finance is additional. But if funding does not come, what do you do?” says an analyst at a reputed securities firm, on condition of anonymity, as they are not authorised to speak with the media.
“You have to meet your energy demands. So growing renewable energy turns out to be the most economical thing to do. As time passes, renewables become cheaper and more scalable. It will take off, despite a lack of adequate climate finance,” they say.
Srivastava shares this optimistic view. According to him, as renewables are commercially viable and can stand on their own, investment will come through private finance, whether through ESG or sovereign funds or domestic banks.
But unlike mitigation, which has well-defined parameters for investors, adaptation finance has so far remained comparatively vague and difficult to fund for various reasons.
Mitigation projects, like renewable energy, attract investment, while adaptation projects—such as sustainable housing, resilient agriculture, and climate-proof infrastructure—remain underfunded.
“Given its scale, India has been attracting a significant amount of funding for mitigation from multilateral and bilateral sources, but not for adaptation. Adaptation funding primarily comes from local financial resources, with only a small portion provided by multilateral and philanthropic organisations,” says Vaibhav Pratap Singh, executive director of the Climate and Sustainability Initiative (CSI).
Till 2022, $116 billion was received by developing nations as climate finance, of which mitigation finance accounted for 60%, found a report.
Need for taxonomy
The recently tabled Economic Survey recognised India to be the 7th most vulnerable country to climate change, with 93% of days in 2024 facing extreme weather events like heat, heavy rainfall, flooding, landslides.
India needs to adapt, and quickly. Among the pressing priorities are providing resilient and sustainable housing. But the primary paradigm is still concrete, steel and glass — materials with high rates of embedded emissions.
Green buildings being cheaper to build and selling at premium rates thanks to the “sustainable” tag. There’s an obvious market sense, but it is still not taking off majorly. Why?
A lack of definition as to what constitutes “green buildings” or “sustainable agriculture” is a major hurdle. Green taxonomy – which classifies economic activities and assets as sustainable, and thereby aids in directing investment – is needed. Having clarity on what constitutes mitigation and adaptation can make it easier for finance to be funneled into sustainable development. For example, the EU Taxonomy is helping chart a clear path for EU states to achieve net zero by 2050, by being one of the fundamental pillars of the EU’s sustainable finance framework.
“India is largely a bank-financed economy, establishing a taxonomy that categorises sectors such as sustainable agriculture, housing, and industries etc. can enhance the flow of finance to these areas. This approach will also improve funding for adaptation-related aspects within these sectors,” says Singh.
More importantly, financing instruments for the existing methods of construction remain dominant. There’s no pressing need to bring about change. In other words, if it ain’t broken, why fix it?
Rethinking green construction
“A completely green building is still a theoretical concept. The moment we get into construction or start building, there’s a lot of carbon footprint accumulating through labour, machinery, vehicles,” says Nachiketa Mohanta, an architect who heads the firm Studio of Illusion based out of Puducherry, Tamil Nadu.
“What works is that when you build for sustainable use, you don’t need to break the structure every 20-30 years. As architects, we design buildings for a longer term. Build fewer buildings, which reduces carbon footprint,” says the architect, who’s been working for 12 years, making mud and lime based homes.
Energy efficiency through natural lighting, cooling and heating, can lend sustainable elements, offers CSI’s Singh. Government housing programs for the underprivileged such as the PM Awas Yojana – Gramin (PMAY-G) and Awas Yojana Urban (PMAY-U) incorporate some green design principles, but broader policy support is needed.
Under PMAY-G, there’s a target of building 3.32 crore houses. As of November 2024, 3.21 crore houses have been sanctioned, and 2.67 crore houses have been completed. Under PMAY-U, the target is 1.18 crore houses, out of which 1.14 crore houses have been grounded for construction, while 83.67 lakh houses have been completed, as of June 2024.
One way of making housing green is by decarbonising the cement and steel industries, which spills over to other industries, and brings its own set of challenges.
Crucially, alternative construction faces a major barrier—nothing can substantially replace coal energy to process raw material into construction material. Using green hydrogen would make it very expensive.
Another strategy is using locally available materials, which reduces costs and carbon emissions as transportation and labour becomes lesser, says Mohanta. “Soil, being a thermal element, keeps buildings cool during summer, and warm during winter. Soil buildings last longer as it gets stronger over time, but concrete based buildings don’t last as long,” he says.
But natural materials have limitations – ideally, they cannot be used for buildings which are higher than four stories. For high-rise buildings, especially in urban areas, steel and glass structures are necessary. Also, since soil and mud are not readily available in cities, transporting them shoots up the cost and carbon emissions, says Mohanta.
Systemic change required
For green buildings to become the main paradigm, a big change is needed. Big construction companies like DLF and L&T have to primarily build alternative houses. Infrastructure needs to scale up, and lobbying by cement and steel industries will have to be dealt with.
Most importantly, there aren’t enough people in the construction industry who can build green structures.
“There is not enough training for mud-based buildings. Large-scale training schemes for architects, and workers are absent. While small organisations are doing courses in Auroville and Bangalore, it is not economically accessible to everyone, especially local contractors. Normal masons cannot avail it. It is still a very niche market,” says Mohanta.
In his experience, he finds skilled labour for alternative construction in towns like Pondicherry and Auroville, but the number decreases in cities like Chennai and Bangalore.
This is where the government needs to step in with training schemes and supporting alternative housing through its own housing projects, hospitals, schools, public buildings, says Mohanta. This is where public finance can play a role by allocating specific funds for such projects, which is readily not available in the market. Subsidising the construction of green real estate, even for a few initial years, can go a long way in incentivising the private sector to mobilise finance, as evidenced in the electric vehicle ecosystem.
“Public buildings are generally funded by the government, and that is where initiatives can be introduced. That would be the best way to reach the maximum number of people,” he says.
This way, blended finance – wherein both public and private funds come together in certain ratios to support sustainable projects and development – can be unlocked for India’s adaptation aspirations.
Unlocking finance for adaptation
Securing finance for adaptation work is challenging as commercial finance firms are looking for returns.
“Adaptation has minimal business cases, and can happen on a small scale in specific regions. For example, building storm shelters in Odisha will not generate revenue, so private finance won’t be available for it. The government has to bear the cost,” says CSI’s Singh.
According to Ashish Fernandes of Climate Risk Horizons, there is little option at the moment except development finance – low-cost loans – through multilateral development banks (MDBs), bilateral deals or philanthropy.
“We can’t expect much of low cost finance coming in. In the sectors where we have shown there is viable finance, like renewable energy, there is probability to raise funds,” he says.
Then again, according to Fernandes, now that the renewable energy sector is established, the focus should be on more derisking mechanisms – wherein strategies are implemented to reduce the amount of risk involved in financing and running the project – for decarbonisation technologies like green hydrogen, electric arc furnaces for steel industry etc.
“We need concessional finance in those sectors. This could involve initial investments by MDBs and large philanthropic institutions. This would open gates for more commercial lenders, as the risk is reduced. In other words, leveraging a smaller pot of loans for getting a bigger pot,” he says.
The answer for a net zero future might be found looking inwards, especially if developing nations cannot rely on climate finance from the developed world.
If we have to turn to private finance, then India’s renewable energy market growth carries a lesson in self-sustainability for the Global South and for other emerging markets. If the economics makes sense, money will follow.
Photo: Pixabay
Mumbai gets heatwave warning, Delhi records warmest Feb night in 74 yrs
The India Meteorological Department (IMD) issued a heatwave warning for Mumbai, which is unusual for February. Mumbai typically enjoys pleasant weather in February with a sea breeze coming towards the mainland, reported Indian Express and other newspapers. But the breeze was delayed by easterly winds, the report said.
The coastal city has two IMD weather observatories—at Santacruz and Colaba. IMD rules state that a heatwave warning is to be issued whenever these two stations record an average maximum temperature of 37 degrees Celsius for two days. On Monday, the maximum temperature recorded at Santacruz stood at 38.4°C, while Colaba recorded 36.8°C.
On February 27, at 19.5°C, the temperature in Delhi was seven degrees above the season’s normal, which was also the warmest February night in 74 years, IMD said.
Mint reported that “India is witnessing a heatwave season early this year with west coast temperatures (coastal Maaharashtra and Goa) soaring this week…. The early arrival of heatwave is being attributed to an extremely rain-deficient winter season, among other reasons.”
Avalanche hits Uttarakhand’s Chamoli, 57 workers trapped
A massive avalanche hit Uttarakhand’s Chamoli district near Mana village on Friday, trapping 57 construction workers engaged in a road construction project near the Border Roads Organisation (BRO) camp. The incident has severely hampered rescue efforts due to blocked roads and lack of mobile connectivity. The Indo-Tibetan Border Police (ITBP), the army, and disaster response teams (SDRF and NDRF) are working to reach the affected area.
So far, ten workers have been rescued and taken to an army camp in critical condition. Authorities are attempting to clear roads to facilitate rescue operations. Chamoli District Magistrate Sandeep Tiwari confirmed the number of those trapped, while BRO commander Colonel Ankur Mahajan stated that the full extent of injuries remains unclear. Chief minister Pushkar Singh Dhami acknowledged the situation and assured ongoing rescue efforts. High-altitude teams are on standby for further assistance. The operation remains challenging due to the remote and inaccessible terrain.
Study: Rich countries driving biodiversity loss in other nations through agricultural, forestry imports
A new study published in Nature showed that consumption of products by developed countries was responsible for biodiversity loss in other countries, DTE reported. The Princeton University study looked at how countries cause biodiversity loss outside their own borders through their demand for agricultural and forestry products grown in other countries, the outlet pointed out. The report explained that import of food or timber from other countries, lead those other countries to destroy their forests to produce the exports. The report found that consumption by high-income nations was responsible for 13.3% of all species range loss across the globe, DTE report said.
The report explained that countries caused international biodiversity losses 15 times greater than their domestic impacts with the US, Germany, Japan and China being the top contributors. Interestingly, 18 of the 24 countries studied had higher international than domestic impacts on biodiversity loss. Countries tend to have the largest impact on species in the tropical regions closest to them. For instance, US consumption had the most significant impact on wildlife in Central America, while China and Japan’s demand affected species in the rainforest regions of southeast Asia.
Global warming may turn ice-free areas of Maritime and Peninsular Antarctica into potential soil organic carbon sinks
According to a new study, climate change could lead to the creation of new carbon sinks in some ice-free areas of Antarctica, new research found. The research combined soil field data, machine learning and projections of future climate change scenarios to examine how warming could affect soil carbon storage at the southern pole. It found that “the effects of climate change, primarily changes in temperature and precipitation” could cause soil carbon in ice-free areas of Maritime and Peninsular Antarctica to increase, creating new carbon sinks.
Spikes in UK wildfire emissions driven by peatland fires in dry years
Over the period 2001-21, fires on peatlands in the UK released 800,000 tonnes of carbon, contributing around 90% of the country’s total annual fire-driven carbon emissions, a new study found. The authors used a “fire emission model” to quantify carbon emissions from wildfires, using “high-resolution land-surface data and fire-weather indices”. By integrating future climate projections, the authors find that a global warming level of 2°C above pre-industrial temperatures would drive up the UK’s fire-driven carbon emissions from peatlands by 60%, due to increased burn depths. They conclude that “protecting peatlands from fires in the UK would be a cost-effective way to slow climate change by avoiding future emission”.
Climate change: World’s glaciers melting faster than ever recorded
According to the “most comprehensive scientific analysis to date”, the world’s glaciers are melting faster than “ever recorded under the impact of climate change”, BBC news reported. The report said mountain glaciers act as a freshwater resource for millions of people around the world, locking up enough water to raise sea levels by 32cm (13in), if they melted entirely, the outlet continues. But between 2000 and 2023, they lost more than 6,500 billion tonnes – or 5% – of their ice, the outlet pointed out. The glaciers lost an average of 273 billion tonnes of ice every year, or 30 years of water for the entire global population, the report said.
Sweden’s top court rejects Greta Thunberg lawsuit on climate action
The Supreme Court of Sweden ruled that Greta Thunberg and hundreds of other climate activists cannot proceed with a class-action lawsuit to force the state to take stronger action against climate change, reported Reuters. The case, filed in 2022, argued that the state “violates” the European Convention on Human Rights by not doing enough to limit climate change or mitigate its effects. The newswire reported that the case was the first-of-its-kind in Scandinavia, arguing the government must reduce greenhouse gas emissions to within the limits of what is “technically and economically feasible”. ,
One in 3 food giants, including Pepsi, Coke, silent on fertiliser risks, finds new report
A third of the world’s largest food companies (including Coke, Pepsi and Adani Wilmar) fail to acknowledge risks associated with fertiliser use and very few consistently publish comprehensive disclosures, according to a new analysis by sustainable finance think tank Planet Tracker, reported DTE.
The outlet noted that the study examined 5,000 filings from 45 major food companies — representing combined revenues of $2.6 trillion — between 2018 and 2023. It assessed whether food producers (upstream), manufacturers (midstream) and retailers (downstream) highlighted fertiliser-related risks to investors and other stakeholders.
The report said even among companies that did disclose such risks, many provided only superficial details. The study said more companies need to provide evidence that they assess the risks associated with fertiliser misuse in their own operations and value chains, such as the potential financial cost and declining agricultural yields from fertiliser overuse.
The study assessed some of the world’s biggest food giants, including Coca-Cola, Diageo, Adani Wilmar, PepsiCo, Walmart, Nestlé, Carrefour, Heineken and Mondelez.
The Intergovernmental Panel on Climate Change (IPCC)’s meeting opened in Hangzhou, China. The US withdrew from the seventh assessment cycle presently underway, reported HT.
IPCC, the main UN body for assessing the science related to climate change, did not comment on the US’ withdrawal. The newspaper quoted the IPCC as saying: “As the IPCC sessions are closed, we do not discuss the presence, absence or attendance of delegates. The list of delegates will be published, as usual, in the report of the meeting in due course.” The report explained that this essentially means that US scientists will not participate in IPCC’s review and the US will not be contributing funding to IPCC. IPCC is meeting in Hangzhou to finalise the outlines of the three Working Group contributions to the Seventh Assessment Report (AR7) and the Methodology Report on Carbon Dioxide Removal Technologies, Carbon Capture Utilization and Storage. These are due in 2028, the report said.
China pledges global cooperation to address climate change
China is willing to cooperate with all parties to address the challenges of extreme weather and climate risks, Chen Zhenlin, head of the China Meteorological Administration (CMA) and chief representative of China to the Intergovernmental Panel on Climate Change (IPCC), said at the IPCC meeting in Hangzhou. Xinhua reported that Chinese climate envoy Liu Zhenmin, said that the IPCC reports reflect “humanity’s deepening understanding of climate science”. Global Times, reported that he world faces an “increasingly severe” climate crisis while “grappling” with the US withdrawal from the Paris Agreement, developing economies, such as China, Brazil and the UAE, have begun to “firmly implement their own emission reduction measures”, taking “greater responsibility”,
India’s NTPC plans to spend $62 billion on 30 GW of nuclear power, sources say
Indian state power company NTPC plans to build 30 gigawatts of nuclear power capacity by 2045, three times more than expected, at a cost of $62 billion, Reuters reported attributing information to sources.
The report said the country’s top power producer, which mainly runs coal-fired plants, is seeking land for its ambitious plan in a country where local resistance to such projects is high, said the sources, who have direct knowledge of the matter.
Citing sources, the newswire report said NTPC was targeting 10 GW of nuclear capacity but tripled the goal after the government this month announced plans to open up the sector to foreign and private investment, the sources said.
EU-India meet dominated by energy and climate topics
Climate and energy would be the main talking points of the EU-India meet, according to experts who were part of a webinar which preceded the actual meeting, according to a report by CarbonCopy. Their opinion was that the Free Trade Agreement (FTA) between India and the EU would be critical, while sorting out issues related to Carbon Border Adjustment Mechanism (CBAM). Furthermore, both India and the EU would benefit from jointly investing in R&D for clean tech, the experts said.
Karnataka declares Hesaraghatta grassland a reserve
The Karnataka government declared Hesaraghatta grasslands in the outskirts of Bengaluru as “conservation reserve” protecting a unique grassland landscape with rich biodiversity that serves as an important water catchment area for Bengaluru, frequently impacted by severe water shortages, HT reported.
The outlet added that the grasslands are also wintering grounds for migrant bird species from Europe, Central Asia and Himalayas including several species of raptors. The Lesser Florican, a critically endangered endemic bustard, was sighted in Hesaraghatta after 100 years in 2011, according to birders.
Supreme Court stays govt order that exempted construction firms to get green clearance
India’s top court stayed a notification by the Centre that exempted building and construction projects, including industrial sheds, schools, colleges and hostels with a built-up area up to 150,000 square metres from obtaining mandatory environmental clearance (EC) prior to starting construction work, reported HT.
The court passed the verdict saying the government move diluted the strict regime governing construction projects. Before the notification came into force, the Environment Impact Assessment (EIA), 2006, made prior environmental clearance mandatory for all constructions with a built-up area of above 20,000 sq meters.
The lawyers of the Mumbai-based NGO Vanashakti, who took the government to court, pointed out that this was the fourth attempt by the Centre to carve out an exception for building and construction projects, submitting that similar moves were made by the environment ministry in 2014, 2016 and 2018.
Rome: Talks to protect Earth’s biodiversity resume with money topping the agenda
The second round of COP16 UN biodiversity talks resumed in Rome, reported AP, adding that , . “significant outcomes” were reached at the initial COP16 summit in November, held in Colombia,but delegates ran out of time. The newswire wrote that “money is top of the agenda” for the Rome talks.
The Guardian reported “concerns that countries will not turn up for the meeting”. A lack of confirmed attendees in the months leading up to the conference has raised concerns about whether the meeting would reach the necessary quorum – of about two-thirds of countries attending – to make any of its decisions valid, the news outlet reported, citing sources suggest that more than 150 countries out of 196 have now registered their intention to attend.” The lack of progress on finance is damaging overall trust in the negotiations, the report said. Politico added that delegates at the three-day meeting “will first have to restore trust in multilateralism at a moment when global diplomatic tensions are at a fever pitch”.
US: Farmers sue US government over deletion of climate data from government websites
Farmers and environmental groups are taking the US agriculture department to court over its decision to remove references to climate change from its website, the New York Times reported. According to the newspaper, the agriculture department ordered staff to take down web pages on climate change on 30 January, including “data sets, interactive tools and funding information that farmers and researchers relied on for planning and adaptation projects”. Bloomberg reported that the lawsuit alleges that the move “violated the Paperwork Reduction Act, the Administrative Procedure Act and the Freedom of Information Act”. The case is being brought by the Northeast Organic Farming Association of New York, the Natural Resources Defense Council and the Environmental Working Group, the report added.
Trump pick for EPA official discloses industry clients, law firm pay
According to a Reuters report, David Fotouhi, President Donald Trump’s nominee to serve as the second-in-charge at the US Environmental Protection Agency earned at least $3.2m in legal fees over the last year representing clients including Chevron, Ford and the US Chamber of Commerce. The report added that Gibson Dunn, Fotouhi’s law firm, is one of the largest and most profitable law firms in the United States. He served in EPA’s legal office during the first Trump administration before returning to the firm. The Trump administration has vowed to roll back the Biden-era climate agenda, including EPA regulations to reduce carbon dioxide, methane and other emissions, the report stated.
NGT raps UP govt, says report on Ganga water quality during Kumbh lacks details
The National Green Tribunal (NGT) rapped the Uttar Pradesh Pollution Control Board (UPPCB) and the Uttar Pradesh government for not submitting details on faecal coliform and other water quality parameters, such as oxygen levels, in the river Ganga in Prayagraj, the Indian Express reported.
The country’s green court told UPPCB, “you have made 500 million people bathe in polluted sewage water, water that was not fit for bathing, and people had to drink that water,” reported DTE. An assessment report conducted by Down to Earth (DTE), that it shared with NGT, revealed that even though the current sewage treatment plant (STP) capacities were operational, around 53 million litres per day (MLD) of untreated sewage was still being directly discharged into the Ganges. The CPCB also said that all STPs were receiving sewage far beyond their capacities, making effective treatment impossible, leading to untreated sewage flowing directly into the Ganges.
DTE reported that untreated wastewater from drains was flowing directly into the Ganges at several locations. In villages near the Ganges, treated water from STP outlets was being discharged into the river, where it was used for irrigation and religious purposes by the locals. The investigation at the Kodra STP outlet near Neewav village confirmed this, DTE report said.
Centre and CPCB to issue norms for mining of soil by brick kilns
The National Green Tribunal (NGT) directed the Central Pollution Control Board (CPCB) to issue guidelines on measures for conserving topsoil and restoring/reclaiming land affected by soil mining for brick-making. These guidelines should also cover the disposal mechanism for fly ash, afforestation measures, metalling of roads used for transporting soil and bricks, dust mitigation through water sprinkling, restoration of mined areas and the usage of groundwater, DTE reported.
The NGT also directed Bijnor administration and the Uttar Pradesh Pollution Control Board, Bijnor, to ensure that no brick kiln operates without complying with environmental norms and obtaining consent to operate (CTO).
The Union Ministry of Environment, Forest and Climate Change (MoEF&CC) was directed to clarify the legal position regarding the requirement for environmental clearance for soil mining by brick kilns for brick-making. MoEF&CC was also told to designate the agency responsible for approving and monitoring such mining activities for brick kilns.
High microplastic levels in bird lungs suggest widespread air pollution impact
Microscopic plastic pollutants (mostly from insulation wires and tires) floating in the air are lodging in the lungs of birds, according to a University of Texas at Arlington study. Phys dot org reported that scientists studied 56 different wild birds from 51 distinct species, all sampled from the Tianfu airport in western China. They collected lung samples from each bird and used laser direct infrared technology to detect and count microplastics in the birds’ lungs.
The outlet said pyrolysis gas chromatography-mass-spectrometry helped identify nanoplastics, which can enter the lungs through the bloodstream. Together, the tests allowed scientists to measure the amount of plastic in the birds’ lungs and determine the specific types of plastics present.
The study found high concentrations of microplastics in bird lungs, with an average of 221 particles per species and 416 particles per gram of lung tissue. The most common types identified were chlorinated polyethylene, used for insulating pipes and wires, and butadiene rubber, a synthetic material in tires.
Brewing tea reduces toxic heavy metals in drinking water, study finds
Brewing tea naturally absorbs heavy metals like lead and cadmium, filtering dangerous contaminants out of drinks, found a new study by Northwestern University researchers, Phys reported. Heavy metal ions stick to, or adsorb to, the surface of the tea leaves, where they stay trapped until the used tea bag is disposed of.
The study was published in the journal ACS Food Science & Technology. “We’re not suggesting that everyone starts using tea leaves as a water filter…our goal was to measure tea’s ability to adsorb heavy metals. By quantifying this effect, our work highlights the unrecognized potential for tea consumption to passively contribute to reduced heavy metal exposure in populations worldwide,” said Northwestern’s Vinayak Dravid, the study’s senior author.
“I’m not sure that there’s anything uniquely remarkable about tea leaves as a material. They have a high active surface area, which is a useful property for an adsorbent material and what makes tea leaves good at releasing flavor chemicals rapidly into your water. But what is special is that tea happens to be the most consumed beverage in the world,” said Benjamin Shindel, the study’s first author.
India adds 25 GW, ‘best-ever’ solar capacity in 2024
India added 25.2 GW to its solar capacity in 2024, a 204% increase compared to the 8.3 GW added in 2023, according to Mercom, marking the highest annual capacity addition in the country’s history. The outlet stated that this growth was driven by large-scale solar projects, which accounted for over 87% of the total capacity additions, with rooftop solar contributing the remaining 13%.
India to offer $1 billion subsidy to fight solar imports from China
According to Bloomberg, India is finalising a $1 billion capital subsidy plan to bolster its solar manufacturing industry, as part of a wider effort to cut down on Chinese imports and profit from the global energy transition.
The newspaper said the proposal is being made by the Ministry of New and Renewable Energy and will target domestic makers of wafers and ingots, one of the weakest segments of the country’s solar industry, according to the people, who asked not to be identified as the discussions are private.
The outlet said the subsidy package will seek Cabinet approval in coming months. The scheme should help India reduce reliance on Chinese imports, Bloomberg reported.
India mandates two-hour energy storage integration in solar tenders
The Centre proposed that all Renewable Energy Implementing Agencies (REIAs) and state utilities include a minimum two-hour energy storage system (ESS) equivalent to 10% of the installed solar capacity in all solar tenders, Mercom reported.
The report cited an advisory to REIAs, state governments, and generating stations, that stated that distribution licensees could also consider mandating two-hour storage with rooftop solar installations. If the proposed mandates are implemented, the government expects approximately 14 GW/28 GWh of storage to be installed by 2030, the report noted.
The report said this will resolve intermittency issues and provide critical support during peak demand hours. The REIAs may mention the requirement explicitly in the bid document to ensure storage availability during non-solar hours, the report said,
Grew Solar to set up 3 GW ingot-module factory in Madhya Pradesh
Ahmedabad-based Grew Solar will invest $3.5 billion to build a three-stage backward-integrated solar module plant in Narmadapuram near Bhopal, PV Magazine reported. The factory will cover 60 acres and produce 3 GW of ingots, wafers, and cells per year. Once operational, it will create more than 1,000 jobs in the region, the report said. Grew Solar currently operates a 3 GW manufacturing facility in Jaipur, with another 5 GW under development in Dudu, Jaipur, bringing the plant’s total capacity to 8 GW.
JSW wins auction to set up 500 MWh Battery Energy Storage System in Kerala
JSW Energy will set up a 125 MW/500 MWh standalone battery energy storage system (BESS) in Kerala. The company won the Solar Energy Corporation of India’s (SECI) auction quoting a tariff of ₹441,000 (~$5,057)/MW/month. Mercom reported that the company will be eligible for viability gap funding of ₹2.7 million (~$30,963)/MWh or 30% of the project’s capital cost, whichever is lower.
The project will be connected to the Mylatti 220 kV substation in Kasaragod. One bay of 110 kV is available. JSW can extend an additional bay if required.
JSW Energy must ensure the BESS is available for at least one operational cycle per day, maintain a minimum monthly system availability of 95%, and guarantee an AC-to-AC round trip efficiency of 85% monthly.
It must also ensure the BESS is available for two operational cycles daily, maintain a minimum monthly system availability of 95%, and guarantee an AC-to-AC round trip efficiency of 85% monthly.
ONGC targets 10 GW renewable capacity by 2030, plans ₹40,000 crore investment in energy transition
Oil and Natural Gas Corporation (ONGC) plans to set up 10 GW renewable energy capacity by 2030, with investments in solar, wind, and green hydrogen projects. The company recently signed an agreement with Ayana Renewables, increasing its clean energy portfolio from 153 MW to 3 GW, ET reported.
The company is also focusing on importing and trading gas as part of its energy transition strategy. Increasing oil and gas production, ONGC has expanded its capital expenditure beyond ₹30,000 crore in the current financial year, with next year’s investment projected between ₹35,000-40,000 crore. A large portion of the investment will be directed towards exploration and production (E&P) projects, deepwater drilling, and offshore field development.
The company is advancing multiple offshore developments, including the Daman Upside Development Project (DUDP), which is set to commence production by late 2025. The Deepwater Cluster-1 project in the East Coast is also in the pipeline, the report said.
AI reducing costs in energy sector by optimising grids
Generative AI is helping achieve efficiency in the energy sector, primarily by optimising grids, and reducing costs involved in that, reported ET Energy World. According to a report by consulting firm EY, 66% of surveyed energy firms have already invested in AI, or have active plans to. The report found that mature firms which invest 0.4-0.7% of their revenues in AI are generating returns of around 2% from the increased efficiency.
EV sales increase in Europe by 37% in Jan 2025
Electric vehicle sales in Europe are going through an upswing, with a 37% rise last month as automakers aim to comply with tighter emissions regulations, reported Bloomberg. According to data from the European Automobile Manufacturers’ Association, countries which saw the upswing include Germany, Italy, and the UK. But there was an overall decline in sales by 2.1% as demand for plug-in hybrid, petrol and diesel vehicles. Parallely, automakers are urging the EU to lax emissions regulations, fearing this will lead to people buying less cars, reported Reuters. France is supporting this, advocating for more flexibility with emission targets, found another report by Bloomberg.
Karnataka aims to bring ₹500 billion by 2030 to become Asia’s clean mobility hub
The Karnataka government has unveiled an ambitious, 5-year, clean mobility plan through which it aims to rake in ₹500 billion by 2030, according to a report by Mercom. The aim is to make the south Indian state the leading hub for clean mobility in Asia. Its propositions include removing registration and road taxes for EVs, and reimbursing 30% of R&D costs up to ₹10 million.
China focuses on building robust energy storage manufacturing
China has issued a plan to promote the “energy storage manufacturing sector”, the state news agency Xinhua reports, adding that, according to the plan, China will aim for a “greater number of leading enterprises, marked improvements in industrial innovation capabilities, and overall competitiveness” in the sector by 2027.
US slaps sanctions on four Indian firms over Iranian oil trade
The United States sanctioned four Indian companies for allegedly shipping Iranian oil to buyers in Asia. The firms—Austenship Management Private Ltd (Noida), BSM Marine Ltd (Gurgaon), Cosmos Lines (Thanjavur), and Flux Maritime (Navi Mumbai)—have been accused of violating US and UN sanctions aimed at restricting Iran’s oil exports, the Indian Express reported. According to the US these companies played a critical role in transporting, selling, and marketing Iranian oil despite global sanctions. By facilitating these transactions, they allegedly helped bolster Iran’s economy, undermining international efforts to curb its oil trade.
This is not the first time the US has targetted Indian companies, the newspaper said adding that in October, India-based Gabbaro Ship Services was sanctioned for alleged involvement in transportation of Iranian oil. In August and September, three India-registered shipping firms were sanctioned by the US over their alleged involvement in transporting liquefied natural gas (LNG) from Russia’s Arctic LNG 2 project, which is under American sanctions.
India’s crude oil imports from the US double in Feb, Russian imports cut by a quarter
The US sanctions forced India to cut Russian oil imports by about a quarter in February while the US oil imports to India have nearly doubled amid the country’s plan to increase the purchase of American energy by two-thirds to $25 billion, reported ET.
The newspaper said an average of 1.07 million barrels per day (mbd) of crude oil was loaded in India-bound tankers during the first 20 days of February at Russian ports, down from 1.4 mbd in January, according to data obtained from energy cargo tracker Vortexa. The average crude loading for India-bound ships at US ports was 0.2 mbd, up from 0.11 mbd in January.
Exports to India from Saudi Arabia and Iraq also increased. Saudi Arabia loaded 0.91 mbd during February 1-20, up from 0.77 mbd while Iraq’s loadings increased to 1.08 mbd from 0.8 mbd. UAE’s average loading for India was 0.31 mbd during February 1-20 compared to 0.48 mbd in the previous month, the newspaper said.
‘Drill baby drill = Buy baby buy’: Fossil fuels take centerstage, green energy back seat in Modi-Trump statement
The India-US energy partnership has gone back from Biden’s clean energy to simply energy under Trump. Climate mitigation, renewable energy, and clean energy supply chains were summarily missing from the Indo-US joint statement issued following Prime Minister Narendra Modi and President Donald Trump’s first bilateral meeting, reported the Indian Express.
The focus is firmly back on fossil fuels as Trump announced an agreement that will see the US supplying more oil and gas, the outlet explained. Trump said the energy agreement “will restore the US as a leading supplier of oil and gas to India and will hopefully be their number one supplier.”
Soon after Trump announced that India has agreed to purchase US oil and gas, National Security Advisor Mike Waltz posted about the news. “Drill Baby Drill = Buy Baby Buy,” Waltz said in a post on X, the newspaper reported.
The report said this marks a clear departure from the “clean energy transition” initiatives that found place in a joint fact sheet of September 21, 2024, following Modi and Biden’s bilateral meeting in Delaware. While the two administrations started the Strategic Energy Partnership in 2018 during Trump’s first term, this was transformed into the Strategic Clean Energy Partnership (SCEP) in 2021 by Biden and Modi.
BP to reduce green investment, increase gas and oil production
Five years after BP set some of the most ambitious targets among large oil companies to cut production of oil and gas by 40% by 2030, while increasing investment in renewables, it is now expected to abandon it altogether, BBC reported. The report added that BP is confirming it is cutting investments in renewable energy by more than half in what chief executive Murray Auchincloss called a “fundamental reset”. In 2023, the company lowered this oil and gas reduction target to 25%. In 2024, BP’s net income fell to $8.9bn (£7.2bn) down from $13.8bn the previous year.
