Adani Green Energy’s $409 million 18-year tenor green bond offer was oversubscribed seven times, receiving bids for over $3 billion. The bonds will bear interest from March 12, 2024, to March 12, 2042 at the rate of 6.7%. The bonds will be listed on the India International Exchange (INX). The proceeds from the bond issue will be utilized to redeem the $500 million, 6.25% senior secured notes issued by Adani Green in 2019. The bonds were issued by Adani Green Energy (UP), Parampujya Solar Energy, and Prayatna Developer, all subsidiaries of Adani Green Energy. In 2021, Adani Green raised $750 million by issuing its maiden senior green bond.

The Jharkhand Renewable Energy Development Agency has invited bids for the design, engineering, procurement, supply, construction, and commissioning of 14 MW grid-connected solar power projects in Palamu and East Singbhum districts. The scope of work includes operations and maintenance of the projects for 25 years. The last date for the submission of bids is March 20, 2024. The projects must be commissioned 548 days from the letter of intent (LoI), with the operational acceptance test scheduled 578 days from the LoI.

India’s first green hydrogen project in the stainless-steel sector was inaugurated by Union Minister for Steel Jyotiraditya Scindia at Jindal Stainless in Hisar, Haryana. The green hydrogen plant was set up by Hygenco Green Energies for Jindal Stainless, an OP Jindal Group company. Claimed to be the world’s first off-grid green hydrogen plant for the stainless-steel industry and the world’s first green hydrogen plant with rooftop and floating solar, the facility aims to reduce carbon emissions by around 2,700 metric tons per annum and 54,000 tons of CO2 emissions over the next two decades.

India’s weakened monsoon spell, coupled with the country’s strong GDP growth, added nearly 190 million tons of CO2 to global emissions, according to a report by the International Energy Agency. The country experienced warm and dry conditions in 2023, which were a consequence of the consistent occurrence of El Nino and its Indian Ocean counterpart — Indian Ocean Dipole –in the second half of 2023. The country also experienced the driest August due to a reduction in monsoon showers, which increased electricity demand and reduced hydropower generation.

Energy storage solutions provider Eos Energy Enterprises reported a 148% surge in revenue in the fourth quarter of 2023 to $6.6 million, driven by higher production volumes on the semi-automated manufacturing line for the Z3 Cube. The Z3 Cube is a self-contained energy storage system built using the company’s Z3 battery modules and standard shipping containers. It was launched in September last year, helping Eos significantly reduce production cycle times and scrap rates, the company said.

The U.S. added a record 42 GW of renewable energy capacity in 2023, with solar installations accounting for the majority, according to a recent report by Bloomberg New Energy Finance. Large-scale and rooftop solar additions in 2023 came at 35 GW, while wind additions were the lowest since 2015, at a mere 7 GW and declining for four years straight. Renewables contributed 23% to the total electricity generated during the year. Renewable energy capacity additions helped emissions fall by 1.8% to 6,229 million metric tons of carbon dioxide equivalent in 2023 when compared to the previous year, according to BNEF estimates.