Daily News Wrap-up: Toyota Kirloskar Motor Shifts to 100% Renewable Energy

Union Power Minister launches Green Day Ahead Market for renewable energy


Here are some noteworthy cleantech announcements of the day from around the world:

Toyota Kirloskar Motor has achieved 100% renewable energy use from June 2021 at its manufacturing facility and eight on-site supplier companies. As a result, the company reduced 16,635 tons of carbon dioxide emissions. It gradually increased green energy procurement to meet its energy needs. It installed a rooftop solar system and ground-mount solar project at its manufacturing facility with a combined capacity of 8.2 MW and installations of an 18 MW solar park outside the company.

Union Minister of Power and New and Renewable Energy R K Singh launched a new market segment, Green Day Ahead Market (GDAM), for renewable energy. The minister said the launch of the green day-ahead market would provide competitive price signals, besides offering an opportunity to market participants to trade in green energy in a transparent, flexible, competitive, and efficient manner. The introduction of GDAM is expected to create a domino effect that will lead to a gradual shift from power purchase agreement-based contracts to market-based models.

Amp Energy announced that it is on track to install 100 MW of community solar projects across its northeastern territory by the end of this year, including wholly-owned community solar projects in New York state and its Massachusetts portfolio. The New York portfolio includes 11 solar projects with 75 MWdc and 27 MWh of battery storage capacity. The Massachusetts portfolio consists of three solar projects with 20 MWdc and 24 MWh of energy storage capacity.

Praj Industries, an industrial biotechnology company, involved in the production of 2G bio-ethanol technology, announced its unaudited financial result for the second quarter (Q2) of the financial year (FY) 2022. Its revenue from operations more than doubled to ₹5.32 billion (~$70.97 million) from ₹2.6 billion (~$34.69) in the same period last year. In Q2 FY 2022, its profit after tax stood at ₹333.4 million (~$4.44 million), a 192% increase compared to ₹113.9 million (~$1.51 million) in Q2 FY 2021.

SK Innovation announced a partnership with Solid Power to develop all-solid-state batteries. The company also committed to making a $30 million investment to acquire a stake in Solid Power. The companies plan to validate that Solid Power’s all-solid-state-cells can be manufactured on existing lithium-ion battery manufacturing equipment, thereby removing the need for expensive and time-consuming re-tooling of battery manufacturing facilities.

Energy storage company NHOA said an Asian industrial group had selected the company to procure two energy storage systems with an aggregate capacity of 160 MW/420 MWh. It would deliver the storage systems on a turnkey basis. The development is scheduled to deliver 110 MWh storage capacity by the end of 2022 and 310 MWh by Q3 2023.


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