Sterlite Power has commissioned the Lakadia-Vadodara Transmission Project Limited in Gujarat, which aims to transmit over 5,000 MW of renewable energy from Bhuj and Kutch to the national grid. The Rs 2,024 crore project will link the Lakadia substation with Vadodara through a 335km transmission line. It is an important part of the world's largest 30,000 MW hybrid renewable energy park to be completed in Kutch. Sterlite Power managing director Pratik Agarwal said the project will accelerate India's 500 GW renewable energy vision by 2030.
Redington Ltd has partnered with top solar companies Navitas Solar, Credence Solar, Emmvee Solar and UGRO Capital to distribute energy saving solutions in India. The partnership aims to provide customers with high-quality solar panels. Redington will store the panels in 50 warehouses and provide them to 3,000 solar partners. Navitas offers expertise in solar energy, battery energy storage systems, sealants and solar EPC services and has a manufacturing facility with an annual capacity of 500 MW. EMMVEE supplies solar photovoltaic panels in 30 warehouses.
Redington operates in 38 markets through 60 subsidiaries, more than 290 Navitas Solar associations and 40,000 channel partners. It supports distribution of all categories of IT/ITeS, Telecom, Lifestyle and Solar products.
The Spanish government approved its first decision on Tuesday to develop wind farms in the country's coast, which is an important step towards the development of the offshore industry. The decree allows 5,000 square kilometers of maritime parks to develop sea wind parks in 19 sea. After five years of negotiations with other stakeholders of the maritime department, the designation of regional governments and powerful fishing and tourism industries will be limited to less than 0.5 % at sea popular activities, but each six censorship will be Limit in the offshore wind activities, but it will be limited to the maritime government and strong fishing and tourism industry, but will be limited to the maritime government and strong fishing and tourism industry per six censorship, but will be limited to the maritime field. However, it will be carried out for five years, but each six restrictions and six are divided, but each six censorship will be limited to the maritime government, but each six restrictions and six, but the year of review will be conducted. However, Alfonso Rueda, a conservative region leader in northwestern Caliusia, said that the government ignored Galicia's opinions on the matter and warned that if they endanger fish stocks, he It will not authorize any offshore wind field. Environmental Organization in Northeast Catalonia criticized the plan that built a marine wind farm around the Rose Bay near the French border, and they said they might occupy an area of 250 square kilometers. It is expected that Spain will announce the wind farm developed at the end of ten years this year, and Ferrovial will sign a memorandum of understanding with RWE, a renewable energy developer, to develop the offshore wind farm. A offshore capacity of more than 20 Gava was allowed in 2030.
EU negotiators have struck a landmark deal to create the world's first "green" bond standard, aimed at becoming a global benchmark for investors in the green transition. The European Council and the European Parliament, which represent the 27 EU member states, announced the "world's first green bond standard" late on Tuesday. The European Commission first proposed the idea in July 2021. The standard complies with the Green Label, known in EU parlance as the "taxonomy", or EU legislation that defines which economic activities can be considered sustainable. The European Union aims to be carbon neutral by 2050.
Annual transactions in the European bond market are estimated to be worth 100 trillion euros ($107 trillion). The agreement must now be formally ratified by the council and parliament.
Banks will finance 81 cents of every dollar spent on fossil fuels in 2021 to finance low-carbon energy supply, but they will need to scale up their commitments to meet the world's climate goals. Energy analyst BloombergNEF pooled data from 1,142 banks to assess whether banks are aligning their funding with the real economy and the 1.5-degree target. The bank funding ratio is lower than the 90-cent-to-dollar investment ratio in global energy supply, but the latter ratio has climbed in recent years from around 0.45:1 between 2011 and 2015. Funding ratios for individual banks vary, with RBC Canada at 0.4, JPMorgan at 0.7, BNP Paribas at 1.7 and Deutsche Bank at 2.2. The report's findings differ from another study published by the environmental group last month, which said the share of bank financing devoted to renewable energy had stagnated.
Environmental activist Greta Thunberg and dozens of other activists blocked the entrance to Norway's Energy Ministry on Monday to protest the construction of wind turbines on land traditionally used by indigenous Sami reindeer herders. The Norwegian state is violating human and indigenous rights, with protesters demanding the removal of the turbines. The government says the ultimate fate of the wind farms is a complex legal and political conundrum and hopes to find a compromise.