Latest news with #SustainableDevelopmentGoal7
Mint
09-06-2025
- Business
- Mint
NTPC ties up with SEforALL for energy transition roadmap
New Delhi: The state-run National Thermal Power Corporation (NTPC) Ltd has signed an agreement with Sustainable Energy for All (SEforALL) to develop its energy transition roadmap. A joint statement said that under the agreement, SEforALL will support the development of NTPC's comprehensive energy transition roadmap aligning with country's energy security, development priorities and net-zero commitments. Sustainable Energy for All (SEforALL) is an international organization working in partnership with the UN, governments, the private sector, financial institutions and civil society with a goal to drive towards the achievement of Sustainable Development Goal 7, which calls for universal access to sustainable energy by 2030. Also read: Search for NTPC CMD to continue as PESB fails to find suitable candidate The roadmap will include modelling of multiple scenarios reflecting NTPC's short-, mid- and long-term strategic horizons, estimating investments needs, identifying diversification opportunities and the socio-economic benefits that come with shifting to cleaner energy systems. 'Targeting emissions reductions in the energy sector, India's largest power company, NTPC, signed an agreement with Sustainable Energy for All (SEforALL) to support their transition to clean energy," the statement said. NTPC is already present in the energy transition space including, through its green energy subsidiary NTPC Green Energy Ltd (NGEL). It is present in R&D and large-scale deployments of green hydrogen pilot projects, floating solar photovoltaic systems, battery energy storage systems, pumped storage hydropower and carbon capture and utilization. Also read: ONGC-led JV resumes production from 'PY-3' offshore field in Cauvery basin Through NGEL, NTPC plans to install 60 GW of renewable energy capacity by 2032. 'Our aim is to foster responsible, sustainable economic development through an energy strategy that champions energy security, social inclusiveness, environmental stewardship, and growth powered by data, technology and innovation. This agreement positions us to meet the rising demand from communities and industry while keeping us at the leading edge of the energy transition," Gurdeep Singh, Chairman and Managing Director, NTPC. Damilola Ogunbiyi, chief executive officer (CEO) and Special Representative of the UN Secretary-General for Sustainable Energy for All, said India continues to show climate leadership on the global stage moving beyond commitment to concrete actions while demonstrating that the energy transition in emerging countries can co-exist alongside economic development. Also read: NMDC eyes ₹70,000 crore worth of projects 'We are excited to support NTPC to co-create net zero roadmap for the energy giant of India. I laud NTPC for its commitment to transitioning to cleaner energy sources," the CEO said.
The Hindu
04-06-2025
- Business
- The Hindu
Role of BESS in shaping India's Energy Transition
The climate crisis has changed the idea of energy security. A country's energy sources must stand firm on four planks: availability, accessibility, affordability, and environmental acceptability. Environmental acceptability focuses on the trade-offs policymakers and the public are willing to make in terms of pollution, biodiversity loss, and greenhouse gas emissions. In this context, renewables have strengthened their position as an energy source that provides affordable power with lower emissions. They are important for the fulfillment of Sustainable Development Goal 7, which focuses on access to clean energy. The case for integrating green energy into power systems is further strengthened by looming climate risks and geopolitical tensions. However, increasing renewable energy capacity may not have the desired results due to the intermittent nature of the resource. Energy storage technologies, such as Battery Energy Storage Systems (BESS), offer a crucial solution to mitigate the variability of renewable energy while enhancing grid stability. Why energy storage matters With the potential to enhance grid operations, enable large-scale integration of renewables, and provide reliable power, energy storage systems are critical to the energy transition. Among the technologies available, BESS stands out for its affordability, scalability, rapid deployment, and geographical flexibility. By stabilising the grid, balancing demand-supply fluctuations, and enabling peak load management, BESS plays a foundational role across all forms of energy storage. Integrating BESS into the grid with renewables can considerably reduce greenhouse gas emissions from the power sector. Further, its ability to support decentralised energy solutions and microgrids ensures renewable energy reaches where it is needed most, making BESS a key enabler of a cleaner, more resilient, and equitable energy ecosystem. Declining costs and technological advancements lead to the accelerating expansion of BESS. Over the past 15 years, the average cost of batteries has fallen by nearly 90%. However, despite this progress, utilisation of its full potential is impeded by regulatory, technical, financial, and market barriers. India's BESS Landscape Emerging economies such as India can lead by example in BESS deployment through a combination of financing and policy measures. India has set a target of 500 GW of installed power capacity from non-conventional fuels by 2030. As of January 2025, the country had already achieved 217.62 GW. To achieve full results, BESS deployment must be accelerated. In this regard, the government has committed to installing 47 GW of BESS by 2032 to enable increased renewable deployment and its integration with the grid. Schemes such as Viability Gap Funding and waiver of interstate transmission system charges for BESS projects commissioned by June 2025 have been enacted to support BESS projects. But progress has been slow. In the Economic Survey 2024-25, the Indian government highlighted the challenges associated with scaling up renewable energy and energy storage deployment — including the lack of investment for grid upgradation, speed of BESS deployment by large customers, access to critical minerals needed for indigenisation of storage technology, and delays in large-scale BESS agreements. The survey called for focusing on innovation and investment for resolving challenges in procuring battery storage, grid infrastructure, and critical minerals. Innovative partnerships can help scale up BESS deployment. Using an alliance of public, private, and philanthropic entities can provide concessional funding and technical assistance for BESS. Following the idea of leveraging collaboration to bring results, the BESS pilot project was initiated in Delhi by BSES Rajdhani Private Limited in partnership with IndiGrid Infrastructure Trust (IndiGrid) and Global Energy Alliance for People and Planet (GEAPP). The commissioning of the 20 MW/40 MWh BESS project at BRPL's 33/11 kV Kilokari substation is a milestone for India's energy storage. It will provide a reliable power supply for over 12,000 low-income consumers. The project marks a significant step forward toward India's goal of 47 GW of energy storage by 2030, creating a technical playbook for BESS adoption, supporting regulatory reforms, and incentivising future BESS projects. Another example of how partnerships can help scale up BESS deployment in India is EnerGrid — a $300 million platform for developing greenfield transmission and standalone BESS projects. It was launched in 2024 by IndiGrid, British International Investment, and the Norwegian Climate Investment Fund managed by Norfund. Facilitating more such initiatives will be key to increasing BESS deployment in India, fulfilling SDG 7 commitments, enhancing energy security, and improving grid stability. Emerging as a leader India has been emerging as a leader in renewable energy deployment. The reasons for increasing renewables in the energy supply are to reduce emissions and create independence from imports of conventional fuels. However, the full potential of renewable energy cannot be achieved without energy storage. To become energy secure, India must complement its renewable energy capacity with BESS. With partnerships, expeditious large-scale BESS projects for central and State grids, concessional financing, technological aid, manufacturing localisation, and recycling opportunities, India can utilise BESS to its fullest extent. This can make India a leader among emerging economies in terms of BESS projects. As a member of the BESS consortium, founded by GEAPP, India has been focusing on deploying energy storage to ensure any increase in renewable energy power capacity can be utilised to its full potential. With more alliances, India can emerge as an energy-secure nation with flexible grids and increased renewable deployment. Saurabh Kumar, vice-president, India, Global Energy Alliance for People and Planet; Harsh Shah, CEO & executive director, IndiGrid
Yahoo
11-05-2025
- Science
- Yahoo
First-of-its-kind tool provides unprecedented transparency on pressing issue: 'Access to this data is crucial'
A first-of-its-kind living atlas is tracking and mapping every major renewable energy installation globally, showing impressive growth in clean energy adoption worldwide, Sustainability Magazine reported. The Global Renewables Watch combines Microsoft's AI capabilities, Planet Labs' satellite imagery, and The Nature Conservancy's expertise to create a database anyone can access. This project gives us a transparent view of renewable energy progress dating back to 2018, giving researchers and policymakers important data about solar and wind installations. The findings from GRW paint an encouraging picture of renewable energy growth. Solar land coverage has tripled over the past seven years, while the number of onshore wind turbines more than doubled to 375,000 by mid-2024. The United States and China lead in total wind installations, though European countries have higher numbers per capita. You can use this publicly available data to understand energy transitions in your region and globally. The tool helps track progress toward Paris Agreement goals and the U.N.'s Sustainable Development Goal 7, which looks to ensure democratic access to affordable, reliable, and sustainable energy. "Access to this data is crucial for the public and private sectors to power growing economies and manage key resources. I'm grateful to our partners, The Nature Conservancy and Planet Labs PBC, for their expert guidance and invaluable contribution of data to build this digital public good," said Juan Lavista Ferres, Microsoft corporate vice president and chief data scientist. Jennifer Morris, CEO of The Nature Conservancy, added, "This will be a publicly accessible resource to help researchers and policymakers understand current capacities and gaps so that decision-makers can scale much-needed renewable energy resources in a responsible, nature-friendly way." By making this data accessible, GRW bridges the gap between technology and environmental stewardship, creating a clearer path toward a sustainable energy future that benefits people and the planet. Do you think more places of worship should embrace clean energy? Yes — it sets a positive example Only if it saves money No opinion Absolutely not Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Arab News
11-04-2025
- Business
- Arab News
ITFC inks $45m energy deal with Comoros
RIYADH: The International Islamic Trade Finance Corporation has signed a €40 million ($45.43 million) Murabaha financing agreement with the African nation of Comoros to support its energy sector, the Saudi Press Agency reported. A member of the Islamic Development Bank Group, ITFC stated that the funding will ensure a stable supply of refined petroleum products and help drive growth in vital sectors such as agriculture, manufacturing, and services. The agreement aligns with the UN's Sustainable Development Goal 7, which focuses on ensuring universal access to affordable, reliable, sustainable, and modern energy by 2030. It aims to increase renewable energy adoption, enhance fuel efficiency, and expand infrastructure in developing countries.. This financing deal addresses Comoros' immediate energy needs while enhancing its resilience to global supply disruptions by guaranteeing uninterrupted fuel access for its economy. ITFC has a long-standing track record of delivering trade finance solutions to member countries, particularly those with developing economies. Its latest agreement with Comoros reflects a broader commitment to strengthening cooperation with African nations and supporting inclusive, sustainable development across the region. ITFC has provided Comoros with over $657 million in total financing since its inception in 2008, underscoring a strong and enduring partnership. This latest Murabaha deal is part of a broader $330 million framework agreement signed in September 2023, which is expected to meet up to 100 percent of Comoros' annual petroleum needs — a transformative step toward national energy security and long-term development. ITFC serves as the trade finance arm of the Islamic Development Bank Group and has provided over $83 billion in financing to OIC member countries. Its mission is to promote trade, improve socio-economic conditions, and offer member countries access to finance and trade development tools. Murabaha, a widely used Islamic finance structure, complies with Shariah law by avoiding interest-based lending. It is commonly employed for trade finance purposes, including the procurement of energy products, raw materials, and equipment — making it especially relevant in development-driven financing, such as this agreement with Comoros.
Zawya
01-04-2025
- Business
- Zawya
UAE reaffirms commitment to global energy transition at BRICS meeting
BRASÍLIA: The United Arab Emirates has reaffirmed its commitment to advancing the global energy transition and strengthening international cooperation to ensure energy security, underscoring its position as a reliable strategic partner in this vital sector. The pledge came during the participation of the UAE Ministry of Energy and Infrastructure in the Second Meeting of BRICS Committee of Senior Energy Officials, held in Brasília, with the presence of high-level representatives from member states. The meeting focused on achieving a balance between energy security and sustainable development, while promoting a shift towards a low-carbon future. Participants highlighted the UAE's pioneering role in ensuring global energy supply security and its leading position in energy transition, hydrogen, and its derivatives. The UAE Ministry of Energy and Infrastructure presented the country's accomplishments in the energy sector, including global leadership in universal access to electricity and clean cooking fuels, investments in renewable and clean energy projects, and improved energy efficiency. These achievements reflect the UAE's dedication to fulfilling the United Nations Sustainable Development Goal 7. The meeting also stressed the importance of implementing the outcomes of the historic "UAE Consensus" reached at COP28, which aims to triple global renewable energy capacity and double energy efficiency by 2030 – objectives that align with the BRICS vision for a sustainable, clean-energy future.
