Airbus Plans Hydrogen-Powered Commercial Aircraft by 2035
Airbus, a Netherland-based multinational aerospace company, has announced its plans to develop the world’s first zero-emission commercial aircraft by 2035. According to its statement, the company is currently working on ...
IFC Asks Clients to Not Invest in Companies That Do Not Want to Exit Coal
International Finance Corporation (IFC), the financial arm of the World Bank Group, is advising its clients in the financial sector to increase their climate-related lending, reducing their exposure to coal ...
US Companies Ask Insurers to Say No to Fossil-Fuel and Support Renewable Businesses
Sixty U.S. companies have teamed up to persuade American insurers to ditch fossil fuel-based businesses. In a letter to insurers, these businesses said: “As insurance customers, we are expressing our ...
5.1 GW of Coal-Based Capacity to be Shut Down as Part of India’s Phase-Out Plan
Power companies have retired almost 14 GW of coal-based generation capacities over the last 18 years; power minister R.K. Singh informed the Lok Sabha. Some 164 thermal power generating units ...
Shutting Down Old & Under-Construction Coal Projects Could Save ₹1.1 Trillion: Report
In India, shutting down 20-year or older coal-fired power projects and scrapping under-construction thermal power projects could save the government, power distribution utilities, and consumers almost ₹1.1 trillion (~$15 billion), ...
Thermal Units May Recover Pollution Control Retrofit Costs Over 25 Years, Suggests CERC
Thermal power projects retrofitting pollution control systems on commissioned units will be allowed to recover their costs in parts from buyers during the tenure of power purchase agreements, Central Electricity ...
Germany Starts Bidding Process to Phase Out 4 GW of Coal-Based Projects
Germany’s power regulator, Bundesnetzagentur, has received bids from coal-based electricity generators keen on phasing out their capacities against a compensation. In a statement, Bundesnetzagentur said that a maximum of 4,000 ...
Adani Port Becomes Part of Science-Based Targets Initiative to Reduce Emissions
Adani Ports and Special Economic Zone Limited (APSEZ) announced that it has signed up for Science-Based Targets initiative (SBTi) to set emission reduction targets across its entire value chain. The ...
ADB Approves $300 Million for Facilitating 110 MW of Geothermal Power in Indonesia
The Asian Development Bank (ADB) has approved a loan of $300 million (~₹22.4 billion) to help PT Geo Dipa Energy (GDE), an Indonesian state-owned company, to expand its geothermal base ...
Municipal Solid Waste-Based Project Stranded Due to COVID-19 Disruption
The Uttar Pradesh Electricity Regulatory Commission (UPERC) has directed UP Power Corporation Ltd (UPPCL) and Ecogreen Energy Lucknow Pvt Ltd to come up with a firm agreement for the amended ...
Power Finance Corporation to Fund 225 MW Hydro Project in Madhya Pradesh
Government-owned Power Finance Corporation (PFC), a non-banking finance company (NBFC), has signed a memorandum of understanding (MoU) with Narmada Basin Projects Company Ltd (NBPCL) to fund 225 MW of hydroelectric ...
European Commission and India to Cooperate on Integrated Local Energy System Solutions
The European Commission’s (EC) Innovation and Networks Executive Agency (INEA) and the Indian Department of Science and Technology (DST) have called for proposals that make use of existing local energy ...
Barclays Likely to Stop Lending to Projects Based on Fossil Fuels
During the annual general meeting (AGM) of Barclays, a British multinational investment bank, nearly 24% of shareholders voted for Share Action’s resolution asking the bank to phase out financing for ...
Singapore’s EMA and Keppel Sign $10 Million MoU for Green Innovations in Marine Sector
Singapore's Energy Market Authority (EMA) and Keppel Offshore & Marine (Keppel O&M) have announced that they have signed a memorandum of understanding (MOU) and entered into a $10 million (~₹759.42 ...
Another Japanese Bank Says No to Financing New Coal-Powered Projects
Japan-based Sumitomo Mitsui Financial Group Inc (SMFG) has decided not to provide support to the newly-planned coal-fired power projects. The policy change will come into effect from May 1, 2020 ...
The United Kingdom to Co-Chair India-Led Climate Change Initiative
The government of the United Kingdom (U.K.) has said that the country will co-chair the governing council on the India-led global ‘Coalition for Disaster Resilient Infrastructure (CDRI).’ Established by Prime ...
India Likely to Stop Coal Imports by 2023-24
The Union Minister of Coal and Mines, Pralhad Joshi, recently announced India’s plans to stop the import of thermal coal from 2023-2024. Coal-based power makes up the largest share of ...
NTPC Raises $750 Million Syndicated Loan to Reduce Emissions from Power Projects
The National Thermal Power Corporation (NTPC) announced that it had raised a syndicated loan worth $750 million (~₹53.5 billion) in Japanese Yen to fund capital expenditure for the installation of ...
India May Experience a Net-Negative Agricultural Impact from Climate Change: Report
The McKinsey Global Institute (MGI) has released a report titled “Climate Risk and Response,” which focuses on understanding the nature and extent of physical risk from climate change over the ...
India Bans Import of Harmful Hydrochlorofluorocarbon that Depletes the Ozone Layer
The Ministry of Environment, Forest and Climate Change (MoEF & CC) has issued a notification that mentions that the issuance of the license for the import of hydrochlorofluorocarbon (HCFC)-141b will ...
Prime Minister’s Office Proposes Waiving Carbon Tax on Coal
According to a communique reviewed by Mercom, the Indian Prime Minister Narendra Modi’s office has proposed waiving the Goods and Services Tax (GST) Compensation Cess, (earlier called the Clean Energy ...
Increasing Number of Insurance Companies Moving Away from Coal-Based Projects: Report
Coal, one of the most significant contributors to climate change, is on its way to becoming uninsurable. The Unfriend Coal campaign, which is now in its third year, shows how ...
EIB to Stop Funding Fossil Fuel-Based Projects After 2021
The European Investment Bank (EIB) has announced that it will end financing fossil fuel-based projects by the end of 2021. The global lender now wants to focus its financing for ...
Assam Signs MoU with NHPC to Develop 2 GW Subansiri Lower Hydro Project
The Government of Assam and the National Hydro Power Corporation (NHPC) have signed a Memorandum of Understanding (MoU) to develop Subansiri lower hydroelectric project located along the borders of Assam ...
Government Classifies Ocean Energy Under Renewable Sources
The Ministry of New and Renewable Energy (MNRE) has informed all the stakeholders that energy from the ocean like tidal, wave, ocean thermal energy conversion, will be accepted as renewable ...
