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					</table><p>The Central Electricity Authority (<a href="https://cea.nic.in/?lang=en" target="_blank" rel="noopener">CEA</a>) has approved two new Pumped Hydro Storage Projects (PSPs) in Maharashtra with a total capacity of 2,500 MW.</p>
<p>The two projects are the 1,500 MW Bhavali PSP being developed by <a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a> and the 1,000 MW Bhivpuri PSP by <a href="https://www.tatapower.com/" target="_blank" rel="noopener">Tata Power</a>.</p>
<p>Both projects are expected to be operational by 2028 and provide over 15 GWh of energy storage capacity.</p>
<p>The move aligns with the growing need for reliable storage solutions in an evolving energy landscape.</p>
<p>These approvals were secured with the support of the Central Water Commission (CWC), the Geological Survey of India (GSI), and the Central Soil and Materials Research Station (CSMRS).</p>
<p>The concurrence for both projects was completed within ten days of receiving the finalized Detailed Project Reports (DPR) through the CEA’s new portal.</p>
<p>This development will contribute significantly to grid stability by addressing peak demand during non-solar hours and facilitating faster integration of renewable energy sources.</p>
<p>To further bolster energy storage capacity, the CEA aims to approve at least two PSPs per month over the year, with a target of concurring 15 PSPs, totaling 25,500 MW, by 2025.</p>
<p>Four projects with a combined capacity of 5,100 MW have already been approved this year.</p>
<p>To streamline processes and promote ease of business, the CEA has launched an online portal, “Jalvi-store,” which enhances transparency and expedites the pre-DPR stages of PSP approvals.</p>
<p>The approval process for these projects has been significantly accelerated by eliminating certain procedural requirements and incorporating clear guidelines.</p>
<p>In March, the Maharashtra State Electricity Distribution Company <a href="https://www.mercomindia.com/maharashtra-tender-1-gw-pumped-hydro-energy-storage" target="_blank" rel="noopener">issued</a> a request for selection to procure 1,000 MW of energy storage capacity for 40 years from inter or intra-state connected pumped hydro storage projects on a demand basis.</p>
<p>Last year, NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-bids-2-gw-pumped-hydro-storage-projects" target="_blank" rel="noopener">invited</a> bids for developing pumped hydro energy storage projects of up to 2,000 MW capacity across India.</p>


CEA Approves 2,500 MW Pumped Hydro Storage Projects in Maharashtra


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					</table><p>Independent power producer <a href="https://ampin.energy/" target="_blank" rel="noopener">AmpIn Energy Transition</a> has secured an investment from Oesterreichische Entwicklungsbank (<a href="https://www.oe-eb.at/en/" target="_blank" rel="noopener">OeEB</a>), the Development Bank of Austria, totaling €25 million (~$26.9 million) in long-term financing.</p>
<p>The capital infusion is expected to aid AmpIn Energy Transition in establishing a 1 GW domestic solar cell and module production facility in Odisha and expanding its renewable energy portfolio.</p>
<p>In October last year, AmpIn Energy Transition <a href="https://www.mercomindia.com/ampin-jupiter-international-solar-module-unit-by-fy25/" target="_blank" rel="noopener">announced</a> a joint venture with Jupiter International to set up a facility to manufacture up to 1.3 GW of solar cells and modules. The facility, which is being established with funds under the government’s Production Linked Incentive (PLI) program, is expected to be commissioned in the financial year 2024-25.</p>
<p>The company has a diverse portfolio spanning 3 GW across 21 states in India and plans to expand it to 10 GW by 2030.</p>
<p>Pinaki Bhattacharyya, MD &amp; CEO of AMPIN Energy Transition, said, “AMPIN is committed to driving India’s energy transition, and our collaboration with OeEB is a pivotal step toward our vision of an energy-independent India. United in this endeavor, we are poised to transform the renewable energy generation &amp; solar manufacturing landscape in India, strengthening the nation&#8217;s commitment to meet its ambitious renewable energy goals by 2030.”</p>
<p>“Supporting India’s transition to renewable energy is not only an important precondition for the country’s continued economic development but also essential for the global fight against climate change. Green finance and comprehensive climate action is at the core of our new strategy. We are proud to partner with AMPIN Energy Transition to support India’s commitment to green and sustainable growth”, comments Sabine Gaber, Member of OeEB’s Executive Board.</p>
<p>Recently, AmpIn Energy Transition <a href="https://www.mercomindia.com/ampin-ppa-nagpur-metros-rooftop-solar" target="_blank" rel="noopener">signed</a> a power purchase agreement (PPA) of 25 years for 6 MW rooftop solar projects with the Maharashtra Metro Rail Corporation for the Nagpur Metro Rail Project.</p>
<p>Under the PLI, AmpIn is eligible to <a href="https://www.mercomindia.com/reliance-renew-tata-power-winners-pli-11" target="_blank" rel="noopener">receive</a> a maximum incentive of ₹1.4 billion (~$17 million) for manufacturing 1 GW of cells and modules.</p>


AmpIn Energy Secures $27 Million for Solar Manufacturing Facility in Odisha


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					</table><p>The Ministry of Ports, Shipping, and Waterways (<a href="https://shipmin.gov.in/" target="_blank" rel="noopener">MoPSW</a>) will bear 30% of the cost for green shipping initiatives to accelerate the green transition in the Indian shipping sector and bring efficiency via the digitization of port operations.</p>
<p>The ministry also announced that four state-owned ports, namely Jawaharlal Nehru Port, VO Chidambaranar Port, Paradip Port, and Deendayal Port, will procure two green tugboats each to expedite the Green Tug Transition Program.</p>
<p>Deendayal Port and VO Chidambaranar Port have been designated green hydrogen hubs, with comprehensive development plans to be implemented throughout the upcoming fiscal year.</p>
<p>Additionally, the ministry plans to introduce a streamlined single-window system to oversee river and sea cruises, enhancing efficiency and monitoring capabilities.</p>
<p>&#8220;It is a moment of satisfaction as we have been able to put together these five action areas during this ongoing &#8216;Chintan Shibir&#8217; with a clear focus to promote green shipping and bringing efficiency via the digitization of port operations. Under the leadership of the Prime Minister, the ministry remains steadfast in its endeavor to become a global leader in the maritime sector. The initiatives announced will not only further this objective but also help us bring in more sustainable development in the maritime sector,&#8221; said Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways.</p>
<p>Recently, Sonowal said two ports on India&#8217;s east coast and one port on the west coast would be <a href="https://mercomindia.com/shipping-ministry-develop-ports-as-hydrogen-hubs/" target="_blank" rel="noopener">developed</a> by the Ministry of Ports, Shipping, and Waterways as hydrogen hubs as part of the Green Shipping Initiative.</p>
<p>Last November, the minister <a href="https://mercomindia.com/india-aims-to-raise-green-vital-ports-to-60-from-10-now/" target="_blank" rel="noopener">launched</a> the National Center of Excellence for Green Port and Shipping to help major Indian ports source as much as 60% of their energy demand from clean sources like solar and wind.</p>
<p>The government has said India will <a href="https://mercomindia.com/india-aims-power-demand-renewables/" target="_blank" rel="noopener">implement</a> International Maritime Organization energy efficiency and carbon intensity requirements for ships on all its coastal or international vessels to help achieve greenhouse gas reduction targets.</p>


Government to Finance 30% of Green Shipping Project Cost


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					</table><p>Members of the <a href="https://www.europarl.europa.eu/portal/en" target="_blank" rel="noopener">European Parliament</a> have approved the European Union’s Carbon Border Adjustment Mechanism (CBAM), which seeks to impose a carbon tariff on carbon-intensive products imported into Europe.</p>
<p>CBAM seeks to put a ‘fair price’ on the carbon emitted while producing carbon-intensive goods entering the EU and encourage cleaner industrial production in non-EU countries.</p>
<p>Several countries have opposed the EU’s carbon tariff measure for its ‘protectionist’ intent.</p>
<p>In March, both India and China <a href="https://www.mercomindia.com/india-voices-concern-over-europes-carbon-tariff-measure-at-wto" target="_blank" rel="noopener">expressed</a> concern over CBAM at the World Trade Organization meeting. China suggested that the forum formally discuss the measure at its meeting in June.</p>
<p>The United Kingdom government recently <u><a href="https://www.mercomindia.com/uk-follows-european-carbon-price-on-imports" target="_blank" rel="noopener">opened</a></u> a consultation on a range of potential policy measures, including a CBAM on the lines of the one proposed by the European Union.</p>
<p>In other decisions as part of the “Fit for 55 in 2030 package”, the EU Parliament also adopted the reform of the Emissions Trading System (ETS), including for aviation and maritime, and a new social climate fund.</p>
<p>The member states <a href="https://www.mercomindia.com/eu-reaches-deal-on-market-reform-to-cut-emissions-by-2030" target="_blank" rel="noopener">reached</a> a deal on the reforms in December last year.</p>
<p>The goal of the ETS initiative is to cut greenhouse gas (GHG) emissions by a minimum of 55% by 2030 compared to 1990 levels, in accordance with the European Climate Law. The revised system is more ambitious, requiring a 62% reduction in GHG emissions in ETS sectors by 2030 relative to 2005 levels.</p>
<p>The EU Parliament also approved a deal with member states to create an EU Social Climate Fund (SCF) in 2026. The fund is aimed at ensuring that the transition to a low-carbon economy is equitable and socially inclusive, with vulnerable households, micro-enterprises, and transport users who are particularly affected by energy and transport poverty set to benefit.</p>
<p>The SCF will be funded by auctioning ETS II allowances up to €65 billion (~$71.2 billion), with an additional 25% covered by national resources, resulting in approximately €86.7 billion (~$95 billion) when fully implemented.</p>
<p>The Council must formally endorse the adopted legislation before being published in the EU Official Journal. The laws will come into force 20 days after publication.</p>


EU Parliament Adopts CBAM and New Climate Measures to Meet 2030 Goals


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					</table><p>Kerala has allocated funds to a host of green initiatives in its 2023 Budget which is aimed at doing away with fossil-fuel dependence by 2040 and achieving net carbon neutrality by 2050.</p>
<p>The Budget announced a road map for setting up green hydrogen hubs in Kochi and Thiruvananthapuram in the next two years for which ₹2 billion (~$24.2 million) was allocated.</p>
<p>In his Budget presentation, state finance minister K N Balagopal said hydrogen fuel can be used in long-haul vehicles as well as ships which will result in bringing down carbon emissions significantly.</p>
<p>The Kerala Budget follows the Union government’s Budget which highlighted the growth of green hydrogen as an alternative fuel. In January, the government <a href="https://mercomindia.com/cabinet-approves-%e2%82%b9197-billion-hydrogen-mission/" target="_blank" rel="noopener">announced</a> that an investment of ₹197 billion (~$2.41 billion) would be made for the National Green Hydrogen Mission to accelerate the low-carbon dependency process.</p>
<p><strong>Electric vehicles</strong></p>
<p>Kerala’s 2023 Budget has set aside ₹100 million (~$1.2 million) for an industrial park to manufacture EV batteries and allied equipment. It also announced the setting up of an electric vehicle (EV) industrial park with the support of the Kerala Infrastructure Investment Fund Board (<a href="https://kiifb.org/" target="_blank" rel="noopener">KIIFB</a>).</p>
<p>The state government has also approved a consortium of Travancore Titanium Products Limited, Vikram Sarabhai Space Centre, Centre for Development of Advanced Computing, and Trivandrum Engineering Science and Technology for EV-related initiatives.</p>
<p>The Budget allocated ₹250 million (~$3 million) for the EV consortium project.</p>
<p>Kerala will also be home to an EV drive train testing lab which is set to be operational by July 2023. The facility will be established under the TrEST park.</p>
<p><strong>Solar projects</strong></p>
<p>A total of ₹200 million (~$2.4 million) has been earmarked for solar power projects and the ‘Soura’ scheme under the Urja Kerala Mission. The Soura scheme of the Urja Kerala Mission is an ambitious program to install over 1 GW of solar photovoltaic systems in Kerala.</p>
<p>The Budget has also set aside ₹490 million (~$5.9 million) for the activities undertaken by the Agency for New and Renewable Energy Research and Technology (ANERT).</p>
<p><strong>Hydropower projects</strong></p>
<p>The Budget has earmarked ₹100 million (~$1.2 million) for hydroelectric projects including the Idukki Golden Jubilee Power House, Moozhiyar Phase-II, Letchmi, Pooyamkutty, and Poringalkuthu projects.</p>
<p>Another ₹120 million (~$1.4 million) has been allocated for the renovation and modernization of various hydel projects.</p>
<p>The state has provided a cumulative outlay of ₹11.58 billion (~$ 140 million) to the energy sector. Out of this, ₹343.6 million (~$4.1 million) has been earmarked as the state’s share in the Viability Gap Fund and Innovation Fund for renewable energy projects.</p>
<p>Earlier this month, Union Finance Minister Nirmala Sitharaman <a href="https://mercomindia.com/union-budget-substantial-capital-expedite-green-energy-transition/" target="_blank" rel="noopener">laid</a> out an expansive budgetary outlay for expediting green transition as she identified ‘Green Growth’ as one of the seven pillars for Budget 2023.</p>


Kerala’s 2023 Budget Lays Emphasis on Green Hydrogen and EV Development


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					</table><p>The European Union&#8217;s (<a href="https://european-union.europa.eu/index_en" target="_blank" rel="noopener">EU</a>) Modernisation Fund disbursed €4.11 billion (~$4.36 billion) this year for 61 projects in eight countries to modernize energy systems, reduce greenhouse gas emissions and improve energy efficiency. These investments support the EU&#8217;s 2030 climate and energy targets and accelerate the green transition.</p>
<p>The Fund disbursed €119.8 million (~$127.16) to Croatia, €1.34 billion (~$1.42 billion) to the Czech Republic, €62.4 million (~$66.23 million) to Estonia, €74.3 million (~$78.87 million) to Hungary, €85 million (~$90.22 million) to Lithuania, and €643.2 million (~$682.72 million) to Poland.</p>
<p>Romania received €1.39 billion and Slovakia €399.5 million (~$424.05 million).</p>
<p>In June, €2.4 billion (~$2.55 billion) was disbursed against 45 investment proposals, and €1.71 billion (~$1.82 billion) recently for 16 additional investment proposals.</p>
<p>The Modernisation Fund, with revenues from the EU&#8217;s Emissions Trading System, aims to support the transition to climate neutrality in ten lower-income EU countries: Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, and Slovakia.</p>
<p>The 61 investment proposals selected this year focus on electricity generation from renewables, modernizing energy networks, improving energy efficiency in energy, industry, buildings, and transport, and replacing coal generation with low carbon-intensity fuel.</p>
<p>The deadline for beneficiary member states to submit investment proposals for the next disbursement cycle is January 19, 2023, for non-priority proposals, and February 16, 2023, for priority proposals.</p>
<p>The Modernisation Fund supports investments in renewable energy, energy efficiency, energy storage, modernizing energy networks (including district heating, pipelines, and grids), and transition in carbon-dependent regions.</p>
<p>In 2021, the Fund provided €898.43 million (~$953.64 million) to eight beneficiary countries.</p>
<p><strong>Finland to receive €465 million </strong></p>
<p>The EU’s Just Transition Fund will also disburse over €465 million (~$493.57 million) to Finland. This represents about 24% of Finland&#8217;s Cohesion Policy allocation for 2021-2027 and supports its goal of achieving climate neutrality by 2035.</p>
<p>Finland is a major producer and consumer of peat in Europe, with 90% used as an energy source (equivalent to coal in terms of CO2 intensity). The Fund aims to halve peat energy use by 2030 and support the transition to a low-carbon economy through diversification of livelihoods, revitalization of economic structures, and upskilling the workforce in peat extraction.</p>
<p>Recently, the European Commission <a href="https://mercomindia.com/european-commission-approves-germanys-plan-renewables/" target="_blank" rel="noopener">approved</a> an amendment to a German government&#8217;s program called Renewable Energy Act 2023 (EEG 2023), which seeks to extend and modify the country&#8217;s support of renewable energy. The EEG 2023 support program, with an overall budget of €28 billion (~$29.6 billion), aims at achieving a share of 80% of electricity produced from renewable energy sources by 2030 and climate neutrality by 2045.</p>
<p>Earlier, the European Commission had <a href="https://mercomindia.com/eu-member-funding-develop-hydrogen-value-chain/" target="_blank" rel="noopener">approved</a> €5.40 billion (~$5.47 billion) in funding for the &#8216;IPCEI Hy2Tech&#8217; project to support research, innovation, and the first industrial deployment in the hydrogen technology value chain.</p>


EU  Disbursed €4 Billion for Green Energy Transition in Eight Countries


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					</table><p>A new study by <a href="https://www.columbia.edu/" target="_blank" rel="noopener">Columbia University</a> reveals that building the infrastructure for cleaner energy generation will by itself create carbon emissions. A huge chunk of the energy required for the construction of wind turbines and solar panels is still met by fossil fuels.</p>
<p>The researchers estimated that the current slow pace of renewable infrastructure production will produce 185 billion tons of carbon dioxide by 2100, which is equivalent to five or six years of current global emissions. It would lead to a temperature rise of 2.7°C by the end of the century.</p>
<p>However, if the green infrastructure creation is aimed at limiting warming to 2°C, it would slash emissions by half to 95 billion tons.</p>
<p>In an ambitious case scenario, if infrastructure development is pegged to a warming ceiling of 1.5°C, the cost would be only 20 billion tons by 2100 – which equates to six months or so of global emissions.</p>
<p>Carbon emissions from adapting to sea-level rise &#8212; construction of sea walls and moving cities inland &#8212; would generate 1 billion tons of carbon dioxide by 2100 under the 2°C scenario.</p>
<p>&#8220;The message is that it is going to take energy to rebuild the global energy system, and we need to account for that,&#8221; study lead author Corey Lesk said.</p>
<p>The study said that faster-paced decarbonization will lend new urgency to policy progress on rapid renewable energy deployment.</p>
<p><strong>Green Infrastructure Costs</strong></p>
<p>The team of researchers calculated the possible emissions that will be produced by energy use in mining, manufacturing, transport, construction, and other activities needed to create farms of solar panels and wind turbines.</p>
<p>The cost of the new energy infrastructure has been estimated at different numbers over recent years. While the World Economic Forum, at the beginning of the year, projected $3.5 trillion a year every year until 2050 to reach net-zero emissions, the American business focussed Wall Street Journal estimated about $14 trillion for the United States alone during the same period.</p>
<p>The study looks only at carbon-dioxide emissions, which currently cause about 60% of ongoing warming—not other greenhouse gases, including methane and nitrous oxide.</p>
<p>However, many commodities for building green energy infrastructure would probably have to come from previously untouched places with fragile environments, including the deep sea, African rain forests, and fast-melting Greenland. Solar panels and wind turbines would directly consume large stretches of land, potentially affecting ecosystems and people living there.</p>
<p><strong>Need for Speedy Transition </strong></p>
<p>&#8220;We&#8217;re laying out the bottom bound,&#8221; said Lesk of the study&#8217;s estimates. &#8220;The upper bound could be much higher.&#8221; But Lesk added, &#8220;If we get on a more ambitious path, this whole problem goes away. It&#8217;s only bad news if we don&#8217;t start investing in the next 5 to 10 years.&#8221;</p>
<p>He said that with recent price drops for renewable technologies, 80 to 90% of the world&#8217;s needs could be installed in the upcoming few decades, especially if current subsidies for fossil-fuel production are diverted to renewables.</p>
<p>According to a peer-reviewed study by Oxford University, <a href="https://mercomindia.com/decarbonized-energy-system-by-2050-could-result-12-trillion-savings/" target="_blank" rel="noopener">transitioning</a> to a decarbonized energy system by around 2050 will save the world at least $12 trillion compared to continuing our current levels of fossil fuel use.</p>
<p>Last year October, Finnish power conglomerate Wartsila and the Lappeenranta-Lahti University of Technology found that India can cut its overall cost of electricity in half and reach net zero before 2050 by <a href="https://mercomindia.com/going-renewables-cut-electricity-cost/" target="_blank" rel="noopener">developing</a> a 100% renewable energy power system.</p>


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