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					</table><a href="https://cms.mercomindia.com/mercoms-second-series-begins-in-bengaluru/" target="_blank" rel="noopener">Mercom India held the first event of the “C&amp;I Clean Energy Meet 2023” series in Bengaluru.</a> The event was hosted in partnership with the Federation of Karnataka Chambers of Commerce and Industry (FKCCI). FKCCI is an apex organization for industry, trade, and service sectors in Karnataka and has been in operation for over a century. The Clean Energy Meet series, hosted across major cities in India, focuses on C&amp;I businesses transitioning to renewables for their energy needs. These events provide an unique single platform for consumers to come face to face with renewable energy stakeholders to understand and implement the benefits of the renewable transition.
<a href="https://www.mercomindia.com/government-ntpc-invest-30-net-worth-green-arm" target="_blank" rel="noopener">The government has allowed NTPC to invest in its subsidiary, NTPC Green Energy (NGEL), beyond the limit allowed for a ‘maharatna’ central public sector enterprise (CPSE). </a> The extant guidelines prescribe a ceiling of 30% of a CPSE’s net worth for making such investments. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, also exempted NGEL’s investment in NTPC Renewable Energy and its other joint ventures and subsidiaries, subject to a ceiling of 15% of its net worth beyond the monetary ceiling of ₹50 billion (~$605 million) to ₹75 billion (~$1 billion).
<a href="https://cms.mercomindia.com/brookfield-aquire-kkrs-stake-x-elio/" target="_blank" rel="noopener">Global investment firm Kohlberg Kravis Roberts (KKR) has agreed to sell 50% of its stake in renewable developer X-ELIO to its joint venture partner Brookfield Renewable</a>. Financial details were not disclosed. Since KKR’s initial investment in 2015, followed by Brookfield’s acquisition of a 50% stake in 2019, X-ELIO has benefitted from over $2 billion of investment. X-ELIO has constructed or developed 3 GW of renewable energy projects globally.
<a href="https://www.mercomindia.com/maharashtra-tariffs-8-7-mw-solar-power-under-kusum" target="_blank" rel="noopener">The Maharashtra Electricity Regulatory Commission (MERC) has adopted tariffs of ₹3.28 ($0.039)/kWh, ₹3.29 ($0.039)/kWh, and ₹3.30 (~$0.040)/kWh for the procurement of 8.7 MW of solar power on a long-term basis.</a> The Commission noted that the solar power procured from the projects would be eligible to fulfill the solar renewable purchase obligation (RPO) of the Maharashtra State Electricity Distribution Company (MSEDCL).
<a href="https://cms.mercomindia.com/iit-mandi-solar-cell-metal-oxide-layers/" target="_blank" rel="noopener">Researchers at the Indian Institute of Technology Mandi (IIT Mandi) have claimed a breakthrough in producing metal oxide layers for use in advanced architecture silicon solar cells using a cost-effective</a> method. This innovative process could pave the way for the commercial production of advanced solar cells with improved efficiency and lower costs, contributing to the widespread adoption of renewable energy sources.
<a href="https://www.mercomindia.com/indian-oil-om-8-mw-solar-project-ahmedabad" target="_blank" rel="noopener">Indian Oil Corporation (IOCL) has invited bids for the operation and maintenance (O&amp;M) of an existing 8 MW solar power project at the LPG bottling plant at Sanand in Ahmedabad for five years.</a> The last date to submit the bids is April 15, 2023. Bids will be opened on April 17. The project’s estimated cost is ₹40.9 million (~$494,921). Bidders need not submit any earnest money deposit to participate in bidding. The successful bidder must submit an amount equivalent to 3% of the total contract value as a security deposit.
<a href="https://www.mercomindia.com/sterling-and-wilson-bos-package-solar" target="_blank" rel="noopener">Sterling and Wilson Renewable Energy, the solar engineering, procurement, and construction (EPC) arm of Shapoorji Pallonji Group</a>, won NTPC’s tender for the balance of system (BOS) package to develop 1.2 GW (4*300 MW) of solar power projects at Khavda renewable park in Gujarat. The aggregate capacity of the project is approximately 1.5 GW. The total bid value, including the operation and maintenance for 3 years, is ₹21 billion (~$254 million).
<a href="https://www.mercomindia.com/jsw-greenko-win-karnatakas-1-gw-pumped-storage-projects" target="_blank" rel="noopener">JSW Neo Energy (JSW Energy) and Greenko KA 01 IREP (Greenko) have won the Power Company of Karnataka’s (PCKL) auction to supply 1 GW of energy for 8 hours daily from pumped hydro storage</a> projects providing continuous 5-hour discharge. JSW Neo Energy won 300 MW by quoting ₹14.75 million (~$178,661), and Greenko bagged 700 MW by quoting ₹14.76 million (~$178,782) under the bucket-filling method. Greenko had quoted for 960 MW. The starting price for the e-reverse auction was set as ₹14.88 million (~$180,235).
<a href="https://cms.mercomindia.com/india-voices-concern-over-europes-carbon-tariff-measure-at-wto/" target="_blank" rel="noopener">India has expressed concern about the carbon border measures proposed by the European Union (EU) at a recent meeting of the World Trade Organization’s (WTO) Committee on Trade and Environment</a>. Presenting a paper on the increasing use of environmental measures as protectionist non-tariff barriers, India said it was concerned about the proposed Carbon Border Adjustment Mechanism (CBAM), which seeks to impose a carbon tariff on carbon-intensive products imported into Europe.
<a href="https://cms.mercomindia.com/constant-climate-centric-funding-can-limit-global-temperature-under-1-5c/" target="_blank" rel="noopener">Financial support from developed economies to developing nations which is a critical enabler of climate action has been inadequate, said scientists in the latest Intergovernmental Panel on Climate Change (IPCC)</a> report highlighting that the promised mobilization of $100 billion under the Paris Climate Accord hasn’t materialized for the developing countries. India welcomed the much-needed financial support to provide developing countries with the required technology to help cut greenhouse gas emissions. The report emphasized that India has consistently held the position that development is our first defense against climate change.
<a href="https://cms.mercomindia.com/ntpcs-subsidiary-projects-for-indianoil-refineries/" target="_blank" rel="noopener">NTPC Limited’s wholly owned subsidiary, NGEL, has entered into a joint venture agreement with Indian Oil Corporation (IOCL) to develop renewable energy projects</a> that can meet round-the-clock power requirements to meet the electricity demands of IOCL refineries. The signing of the joint venture agreement between NTPC Limited and IOCL is expected to facilitate the two companies in achieving the Clean Energy Targets set by the Government of India in their respective core businesses, an official statement said.

Daily News Wrap-Up: Mercom’s Second Edition of C&I Clean Energy Meet Series Begins

Limiting global warming to close to 1.5°C or even 2°C will be impossible unless there are immediate, rapid, and large-scale reductions in greenhouse gas (GHG) emissions, the Intergovernmental Panel on Climate Change (<a href="https://www.ipcc.ch/" target="_blank" rel="noopener">IPCC</a>) has warned.
In its Climate Change 2021: The Physical Science Basis report, IPCC said the Earth would warm by 1.5°C in all scenarios. Even in the most ambitious emissions pathway, it will reach 1.5°C in the 2030s, overshoot to 1.6°C, before the temperature declines to 1.4°C at the end of the century.
Limiting further climate change would require substantial and sustained reductions in GHG emissions. Without net zero CO2 emissions and a sufficient net negative CO2 emission to offset any further warming, the climate system will continue to warm.
Earlier this year, the UN Environment Programme had <a href="https://mercomindia.com/investing-climate-economic-un-report/" target="_blank" rel="noopener">released</a> a report that said nations must boost their efforts to adapt to the changing climate scenario to avoid dire consequences in the future. The UNEP Adaptation Gap Report 2020 stated that about 72% of countries had adopted at least one national-level plan for adaptation and most developing countries have one in the works.
According to the report, scientists are observing drastic changes in the Earth&#8217;s climate in every region and across the whole climate system. Many of the changes observed, like rising sea levels and polar ice cap melting, are anomalous and are irreversible for the foreseeable future.
The report, compiled by 234 experts from 66 countries in over 4,000 pages, outlines the processes in human-induced climate change, rising temperatures, projections for the future.
According to the report, strong and sustained reductions in CO2 emissions and other greenhouse gases (GHG) would limit climate change. While benefits for air quality would come quickly, it could take at least three decades to see global temperatures stabilize.
&#8220;This report reflects extraordinary efforts under exceptional circumstances,&#8221; said Hoesung Lee, Chair of the IPCC. &#8220;The innovations in this report and advances in climate science that it reflects provide an invaluable input into climate negotiations and decision-making.&#8221;
Expeditious Temperature Rise
Human activities are responsible for approximately 1.1°C of warming since the latter part of the 19th century. Global temperature is expected to increase by or exceed 1.5°C when averaged over the next two decades. This assessment is based on improved observational datasets to assess historical warming and progress in scientific understanding of the response of the climate system to human-caused GHG emissions.
&#8220;This report is a reality check. We now have a much clearer picture of the past, present, and future climate, which is essential for understanding where we are headed, what can be done, and how we can prepare,&#8221; said IPCC Working Group I Co-Chair Valerie Masson-Demotte.
The report also notes that the Indian Ocean is warming at a higher rate than the global oceans. Half of the sea level rise is contributed by the thermal expansion, a reason for the rise in the sea level over the Indian Ocean region. The report concludes that global mean sea levels will continue to rise over the 21st century, even in the lowest emissions scenarios.
The report predicts that snow-covered areas and snow volumes will decrease in most Hindu Kush Himalayan, and snowline elevations will rise, and glacier volumes will decline. This is worrisome as Hindu Kush Himalaya Region is a crucial water supply source for millions of Indians.
Ubiquitous Changes Observed
Global warming directly determines many of the characteristics of climate change, but what people experience is often very different from the global average. Temperatures over land are soaring and are more than the global average and doubles in the Arctic.
&#8220;Climate change is already affecting every region on Earth in multiple ways. The changes we experience will increase with additional warming,&#8221; said IPCC Working Group I Co-Chair Panmao Zhai.
The report projects that in the coming decades&#8217; climate changes will increase in all regions. An increase of 1.5°C will cause increasing heat waves, longer summers, and shorter winters. A 2°C increase would have devastating effects such as reaching critical tolerance thresholds for agriculture and health.
Climate changes effects are far-reaching and are not just limited to a rise in temperature. Its effects vary from region to region, sometimes diametric. Climate change is intensifying the water cycle, bringing intense rainfall and flooding. In sharp contrast, it is also the reason why many regions are witnessing intense drought.
Changes to monsoon precipitation are expected, with high latitudes receiving increased precipitation. At the same time, in large parts of the subtropics, it is projected to decrease. Coastal areas will see continued sea-level rise throughout this century, furthering frequent and severe coastal flooding in low-lying areas and coastal erosion.
Further warming will amplify permafrost thawing and the loss of seasonal snow cover, melting of glaciers and ice sheets, and loss of summer Arctic sea ice. Oceans will get warmer with frequent marine heatwaves, ocean acidification, and reduced oxygen levels, all linked to human influence. These changes affect both ocean ecosystems and the people who rely on them. They will continue throughout at least the rest of this century.
&#8220;Stabilizing the climate will require strong, rapid, and sustained reductions in greenhouse gas emissions and reaching net-zero CO2 emissions. Limiting other greenhouse gases and air pollutants, especially methane, could have benefits both for health and the climate,&#8221; said Zhai.
Changes in the climate system resulting from past, present, and future human activities will continue long into the future, even with strong reductions in GHG emissions. Some aspects of the climate system, including the terrestrial biosphere, deep ocean, and the cryosphere, respond much more slowly than surface temperatures to changes in GHG concentrations. As a result, there are already substantial committed changes associated with past GHG emissions. For example, the global mean sea level will continue to rise for thousands of years, even if future CO2 emissions are reduced to net zero.
Recently, the Economic Survey for 2021 had <a href="https://mercomindia.com/economic-survey-2021-india-climate/" target="_blank" rel="noopener">revealed</a> that India would require around $206 billion (~$15 trillion) between 2015 and 2030 to fight climate change.

Rapid Cuts in GHG Emissions Needed to Limit Global Warming to 1.5°C: IPCC

The American Geophysical Union (<a href="https://www.agu.org/" target="_blank" rel="noopener noreferrer">AGU</a>) has published a report claiming to have created multiple pathways to help the United States meet net-zero and net negative CO2 emissions by 2050.
AGU has modeled the entire U.S. energy and industrial system with new analysis tools that capture synergies that have not been represented in sector-specific or integrated assessment models.
By methodically increasing energy efficiency, switching to electric technologies, utilizing clean electricity (especially wind and solar power), and deploying a small amount of carbon capture technology, the United States can reach zero emissions without requiring behavior changes.
The Intergovernmental Panel on Climate Change’s (IPCC) ‘Special report on global warming of 1.5°C’ points to the need for carbon neutrality by mid‐century, and achieving it in 30 years in the U.S. will be a challenge. Practical pathways detailing the technologies, infrastructure, costs, and tradeoffs involved are needed.
AGU created eight scenarios that would meet all U.S. energy needs at a net cost of 0.2–1.2% of GDP in 2050, using only commercial or near‐commercial technologies, while requiring no early retirement of existing infrastructure. Cost models with more detail than used in the past revealed unexpected synergies, counterintuitive results, and tradeoffs.
These pathways with constraints on consumer behavior, land use, biomass use, and technology choices (e.g., no nuclear) met the target but at a higher cost.
The pathways picked by AGU have employed four basic strategies: energy efficiency, decarbonized electricity, electrification, and carbon capture. Least‐cost pathways were based on over 80% wind and solar electricity plus thermal generation for reliability.
However, a 100% renewable primary energy system was feasible but had a higher cost and land use. Eliminating fossil fuel use is possible but comes at a higher cost. Restricting biomass use and land for renewables is possible but could require nuclear power to compensate.
AGU claims to have discovered multiple feasible options to supply low‐carbon fuels for non‐electrifiable end uses in industry, freight, and aviation, which were not required in bulk until after 2035.
Actions required in all pathways are similar in the next decade: expand renewable capacity 3.5 fold, retire coal, maintain existing gas generating capacity, and increase electric vehicle and heat pump sales to over 50% of market share.
In October 2020, the world’s third-largest economy, Japan, <a href="https://mercomindia.com/after-china-japan-pledge-carbon-neutral/" target="_blank" rel="noopener noreferrer">announced</a> its plan to become carbon-neutral by 2050. In his first policy speech in the parliament, Prime Minister Yoshihide Suga said, “Responding to climate change is no longer a constraint on economic growth. It is necessary to change the way of thinking that proactive measures against climate change will bring about changes in the industrial structure and economic society, leading to great growth.”
The world’s largest and growing energy market, China, also <a href="https://mercomindia.com/china-pledge-to-become-carbon-neutral/" target="_blank" rel="noopener noreferrer">announced</a> in September 2020 that it aimed to transform into a carbon-neutral economy by 2060. However, for a country that contributes 28% of global emissions, Chinese President Xi Jinping’s claim lacked announcement of a definite roadmap and immediate concrete steps towards the goal, analysts opined.

Pathways for US to Meet Net Zero, Net Negative CO2 Emissions by 2050: Report

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