Latest news with #EnergyEfficiency
Mint
10-07-2025
- Business
- Mint
IREDA net profit falls 36 pc to ₹247 cr in June quarter
New Delhi, Jul 10 (PTI) State-owned Indian Renewable Energy Development Agency on Thursday reported a 36 per cent decline in its net profit to ₹ 247 crore in the June quarter compared to a year ago, mainly due to higher expenses. The company had posted a net profit of ₹ 384 crore in the quarter ended on June 30, 2024, a BSE filing showed. However, the revenue from operations improved to ₹ 1,947 crore during the quarter against ₹ 1,510 crore in the year-ago period. The total expense rose to ₹ 1,655 crore in the quarter from ₹ 1,034.96 crore in the same period a year ago. The financing cost climbed to ₹ 1,218 crore compared to ₹ 975 crore, while the impairment on financial instruments was ₹ 363 crore against the gain of ₹ 30 crore a year ago. The net worth of the company appreciated to ₹ 12,042 crore from ₹ 9,110 crore in FY25. Similarly, its loan book increased to ₹ 79,941 crore compared to ₹ 63,207 crore a year ago. The company's loan sanctions grew to ₹ 11,740 crore against ₹ 9,136 crore in the corresponding period a year ago, while the loan disbursements rose to ₹ 6,980 crore from ₹ 5,325 crore. "Our expanding loan book and net worth reflect our strategic focus and robust operations. IREDA supports India's renewable energy journey with a growing portfolio and strong performance, committed to a sustainable future through innovation and responsible finance," Pradip Kumar Das, Chairman and Managing Director of IREDA, said. The company's primary business is to provide finance for Renewable Energy & Energy Efficiency projects and related activities carried out in India.
Yahoo
07-07-2025
- Business
- Yahoo
Nokia's AI Tech Powers Greener Mobile Networks In Indonesia
Indosat Ooredoo Hutchison, a leading Indonesian digital telecom provider, has adopted Nokia Corp.'s (NYSE:NOK) Energy Efficiency solution from its Autonomous Networks portfolio to cut energy use and lower CO₂ emissions across its national radio access network (RAN). Leveraging AI and machine learning to analyze real-time traffic, the solution allows Indosat to automatically power down idle or underutilized radio equipment during low-demand periods. Intelligent thermal management also reduces cooling-related energy via a SaaS model, the solution avoids enormous upfront costs and removes the need for on-site maintenance, making it a greener and more efficient alternative, the company said in a press release. The multi-vendor, AI-powered platform helps reduce both energy costs and environmental impact without compromising network performance or customer service. The deployment follows a successful pilot in which Nokia's solution effectively cut live network energy use. Nokia has expanded the rollout across its entire RAN footprint in Sumatra, Kalimantan, Central, and East Java. Nokia stock surged over 16% year-to-date, topping the NYSE Composite's close of 9%, backed by licensing deals and positive performance in its Network Infrastructure, Cloud, and Network Services divisions. The acquisition of Infinera and strategic partnerships also added to investor confidence. The stock gained over 33% in the last 12 months versus the index's close to 15%. Ten analysts have set an average price target of $5.44 for Nokia. Craig-Hallum gave the highest target of $7 on January 6, 2025. The three most recent ratings assigned an average target of $6.55, suggesting a potential upside of 27.18% from Nokia's current price. Price Action: NOK stock is trading lower by 0.77% to $5.15 premarket at last check Monday. Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? NOKIA (NOK): Free Stock Analysis Report This article Nokia's AI Tech Powers Greener Mobile Networks In Indonesia originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
06-07-2025
- Politics
- The Hindu
Andhra Pradesh announces five-point strategy to combat climate change
In a significant move to combat climate change and support the Central government's mission to reduce Green House Gas (GHG) emissions, the Government of Andhra Pradesh has adopted a comprehensive five-point Climate Strategy aimed at enhancing environmental resilience and achieving Sustainable Development Goals (SDGs). Chief Secretary K. Vijayanand announced the strategy following a high-level meeting with the Bureau of Energy Efficiency (BEE) on Sunday, a press release by BEE Media Adviser (South India) A. Chandra Sekhar Reddy said. The five points were — aggressive implementation of Energy Efficiency (EE) in collaboration with the BEE, Energy Efficiency Services Ltd, and Convergence Energy Services Ltd.; accelerated renewable energy deployment under Integrated Clean Energy Policy; an afforestation drive to plant one crore saplings in a single day and 5.58 crore saplings over the next year in order to increase the State's green cover to 50% by 2047; adoption of global best practices in EE; and organising a State-wide awareness and student engagement campaign.
CNN
02-07-2025
- Climate
- CNN
European summers are getting brutally hot. So why is air conditioning so rare?
A brutal heat wave is gripping many parts of Europe, leaving millions of people struggling to adapt to punishing, record-breaking temperatures. Heat persists even at night, with temperatures in some places not dipping much below 90 degrees. There is little respite. Air conditioning is very rare in European homes. Many residents are being forced to ride out the searing heat with the help of electric fans, ice packs and cold showers. But Europe hasn't approached heat in the same way as the historically hotter United States. While nearly 90% of US homes have air conditioning, in Europe it's around 20%, and some countries have much lower rates. In the United Kingdom, only around 5% of homes have cooling systems — many of which are portable AC units. In Germany, the figure is 3%. As climate change drives more severe and prolonged heat waves, which arrive earlier and earlier, some are questioning why wealthy European countries have been seemingly reluctant to adopt air conditioning — especially as the heat takes an increasingly deadly toll. A big part of the reason is many European countries historically had little need for cooling, especially in the north. Heat waves have always happened but rarely reached the prolonged high temperatures Europe now regularly endures. 'In Europe… we simply don't have the tradition of air conditioning… because up to relatively recently, it hasn't been a major need,' said Brian Motherway, head of the Office of Energy Efficiency and Inclusive Transitions at the International Energy Agency. This meant AC has traditionally been seen as a luxury rather than a necessity, especially as installing and running it can be expensive. Energy costs in many European countries are higher than in the US, while incomes tend to be lower. Energy prices have risen even further since Russia invaded Ukraine in 2022, as the EU takes steps to phase out its reliance on Russian oil and gas. Though prices have stabilized since the initial energy crisis of 2022, the cost of powering an AC unit may still be out of reach for many Europeans. Then there's the architecture. Some buildings in hotter, southern European countries were built for the heat. They have thick walls, small windows that keep the sun from beaming inside and are designed to maximize air flow. This has helped keep them cooler and lessened the perceived need for artificial cooling. In other parts of Europe, however, homes have not been designed with heat in mind. 'We haven't been in the habit … of thinking about how we stay cool in the summer. It really is a relatively recent phenomenon,' said Motherway. Buildings on the continent tend to be older, built before AC technology became mainstream. In England, which has just endured its hottest June on record, one in six homes were built before 1900. It can be harder to outfit older homes with central cooling systems, although far from impossible, Motherway said. Sometimes a bigger problem is red tape, said Richard Salmon, the director of the Air Conditioning Company based in the UK. UK authorities will often reject applications to install AC 'on the basis of the visual appearance of the outdoor condenser unit, especially in conservation areas or on listed buildings,' he said. There is also a policy angle. Europe has pledged to become 'climate neutral' by 2050 and a sharp increase in air conditioners will make climate commitments even harder to reach. Not only are air conditioners energy guzzlers, but they also push heat outside. A study looking at AC use in Paris found they could increase the outside temperature between about 2 and 4 degrees Celsius (3.6 to 7.2 Fahrenheit). This impact is especially severe in Europe's generally dense cities. Some countries have imposed measures to limit air conditioning. In 2022, Spain introduced rules stipulating AC in public places should be set no lower than 27 degrees Celsius (80 degrees Fahrenheit) to save energy. Attitudes and concerns around AC in Europe are changing, however, as the continent becomes a climate hotspot, warming at twice the rate of the rest of the world. The continent faces a dilemma: embrace energy-intensive air conditioning, with the negative climate impacts it brings, or find alternative ways to cope with its ever-hotter future. 'Our homes need to be resilient not just to the cold, but to the increasingly brutal heat,' said Yetunde Abdul, director at UK Green Building Council. There are already clear signs uptake is increasing in Europe, as in many parts of the world. An IEA report found the number of air conditioning units in the EU is likely to rise to 275 million by 2050 — more than double the 2019 figure. The Air Conditioning Company's Salmon says he has seen demand for air conditioning skyrocket. 'Over the last five years, residential enquiries have more than tripled. This heatwave in particular has sent things through the roof… People just can't function when they're boiling at 3 a.m.' Some politicians are pushing for a sweeping uptake of AC. France's far-right politician Marine Le Pen has vowed to implement a 'major air conditioning infrastructure plan,' while criticizing the 'so-called French elites' who encourage others to seek alternative cooling methods while they 'obviously enjoy air-conditioned cars and offices.' But experts warn AC may be a quick reprieve from scorching temperatures but it gobbles up energy, most of which still comes from planet-heating fossil fuels. Using fossil fuel-powered AC increases planet-heating pollution, which in turn increases temperatures, fueling 'a vicious cycle of worsening climate change,' said Radhika Khosla, an associate professor at the Smith School of Enterprise and the Environment at the University of Oxford. The reality is mindsets around AC are undoubtedly going to change in Europe, as extreme heat — and its health impacts — increases, IEA's Motherway said. The challenge will be making sure countries have strong regulations around the efficiency of cooling systems to reduce their potentially huge climate impact. 'Because every air conditioner sold today locks in energy use and emissions for the next decade or two decades. So it's important we get this right first time.'
CNN
02-07-2025
- Climate
- CNN
European summers are getting brutally hot. So why is air conditioning so rare?
A brutal heat wave is gripping many parts of Europe, leaving millions of people struggling to adapt to punishing, record-breaking temperatures. Heat persists even at night, with temperatures in some places not dipping much below 90 degrees. There is little respite. Air conditioning is very rare in European homes. Many residents are being forced to ride out the searing heat with the help of electric fans, ice packs and cold showers. But Europe hasn't approached heat in the same way as the historically hotter United States. While nearly 90% of US homes have air conditioning, in Europe it's around 20%, and some countries have much lower rates. In the United Kingdom, only around 5% of homes have cooling systems — many of which are portable AC units. In Germany, the figure is 3%. As climate change drives more severe and prolonged heat waves, which arrive earlier and earlier, some are questioning why wealthy European countries have been seemingly reluctant to adopt air conditioning — especially as the heat takes an increasingly deadly toll. A big part of the reason is many European countries historically had little need for cooling, especially in the north. Heat waves have always happened but rarely reached the prolonged high temperatures Europe now regularly endures. 'In Europe… we simply don't have the tradition of air conditioning… because up to relatively recently, it hasn't been a major need,' said Brian Motherway, head of the Office of Energy Efficiency and Inclusive Transitions at the International Energy Agency. This meant AC has traditionally been seen as a luxury rather than a necessity, especially as installing and running it can be expensive. Energy costs in many European countries are higher than in the US, while incomes tend to be lower. Energy prices have risen even further since Russia invaded Ukraine in 2022, as the EU takes steps to phase out its reliance on Russian oil and gas. Though prices have stabilized since the initial energy crisis of 2022, the cost of powering an AC unit may still be out of reach for many Europeans. Then there's the architecture. Some buildings in hotter, southern European countries were built for the heat. They have thick walls, small windows that keep the sun from beaming inside and are designed to maximize air flow. This has helped keep them cooler and lessened the perceived need for artificial cooling. In other parts of Europe, however, homes have not been designed with heat in mind. 'We haven't been in the habit … of thinking about how we stay cool in the summer. It really is a relatively recent phenomenon,' said Motherway. Buildings on the continent tend to be older, built before AC technology became mainstream. In England, which has just endured its hottest June on record, one in six homes were built before 1900. It can be harder to outfit older homes with central cooling systems, although far from impossible, Motherway said. Sometimes a bigger problem is red tape, said Richard Salmon, the director of the Air Conditioning Company based in the UK. UK authorities will often reject applications to install AC 'on the basis of the visual appearance of the outdoor condenser unit, especially in conservation areas or on listed buildings,' he said. There is also a policy angle. Europe has pledged to become 'climate neutral' by 2050 and a sharp increase in air conditioners will make climate commitments even harder to reach. Not only are air conditioners energy guzzlers, but they also push heat outside. A study looking at AC use in Paris found they could increase the outside temperature between about 2 and 4 degrees Celsius (3.6 to 7.2 Fahrenheit). This impact is especially severe in Europe's generally dense cities. Some countries have imposed measures to limit air conditioning. In 2022, Spain introduced rules stipulating AC in public places should be set no lower than 27 degrees Celsius (80 degrees Fahrenheit) to save energy. Attitudes and concerns around AC in Europe are changing, however, as the continent becomes a climate hotspot, warming at twice the rate of the rest of the world. The continent faces a dilemma: embrace energy-intensive air conditioning, with the negative climate impacts it brings, or find alternative ways to cope with its ever-hotter future. 'Our homes need to be resilient not just to the cold, but to the increasingly brutal heat,' said Yetunde Abdul, director at UK Green Building Council. There are already clear signs uptake is increasing in Europe, as in many parts of the world. An IEA report found the number of air conditioning units in the EU is likely to rise to 275 million by 2050 — more than double the 2019 figure. The Air Conditioning Company's Salmon says he has seen demand for air conditioning skyrocket. 'Over the last five years, residential enquiries have more than tripled. This heatwave in particular has sent things through the roof… People just can't function when they're boiling at 3 a.m.' Some politicians are pushing for a sweeping uptake of AC. France's far-right politician Marine Le Pen has vowed to implement a 'major air conditioning infrastructure plan,' while criticizing the 'so-called French elites' who encourage others to seek alternative cooling methods while they 'obviously enjoy air-conditioned cars and offices.' But experts warn AC may be a quick reprieve from scorching temperatures but it gobbles up energy, most of which still comes from planet-heating fossil fuels. Using fossil fuel-powered AC increases planet-heating pollution, which in turn increases temperatures, fueling 'a vicious cycle of worsening climate change,' said Radhika Khosla, an associate professor at the Smith School of Enterprise and the Environment at the University of Oxford. The reality is mindsets around AC are undoubtedly going to change in Europe, as extreme heat — and its health impacts — increases, IEA's Motherway said. The challenge will be making sure countries have strong regulations around the efficiency of cooling systems to reduce their potentially huge climate impact. 'Because every air conditioner sold today locks in energy use and emissions for the next decade or two decades. So it's important we get this right first time.'
