Maharashtra Floats Tenders to Procure 1.92 GW of Solar Power

Government to Auction First Offshore Wind Site in February 2024

Clean Mobility Solutions Startup Oorja Secures $1.5 Million Funding

Soltec Power Holdings Gains Momentum as Q2 Losses Drop by 50%

Gautam Solar to Expand Annual Module Manufacturing Capacity to 2 GW

Sterling and Wilson to Raise ₹15 Billion Through Equity Sales

Daily News Wrap-Up: Assam Approves ₹52 Billion Transmission Modernization Project

Smarter Inverters Crucial for Maximizing Generation from Advanced Solar Modules

Flux Power Narrows Net Loss in Q4 FY23, Reports 44% YoY Improvement

CERC Resolves Difficulties in Implementing GNA Regulations


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/05/amazon_polly_54294.mp3?version=1684825793">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
<p style="height: 17px">
</div>
</div></div><div class="clearfix"></div></div></div>

Government to Finance 30% of Green Shipping Project Cost


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/04/amazon_polly_52755.mp3?version=1681804932">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The <a href="https://www.gov.uk/" target="_blank" rel="noopener">UK government</a> will introduce non-price factors in its Contracts for Difference (CfD) program for renewable energy projects as a major shift from the cost-only model to ensure the viability of such projects in the long term.</p>
<p>The new approach could mean that applicants would have to show how their projects would help improve the supply chain sustainability, address the skills gaps, foster innovation, and enhance the sector&#8217;s system and grid flexibility and operability.</p>
<p>It is also expected to encourage more investment in the sector, create more jobs, and improve the country&#8217;s energy security.</p>
<p>The government will open the proposal for comments from the industry stakeholders about a new idea to evaluate bids on their cost-effectiveness and wider benefits for the renewable energy sector.</p>
<p>It will analyze the responses for a proposed Call for Evidence and consult on any suggested program changes if they are more effective than other policy options.</p>
<p>This Call for Evidence is part of the government&#8217;s work to continue to evolve the CfD program as it considers long-term market arrangements through the Review of Electricity Market Arrangements. The proposed reforms could help drive further investment in renewable energy deployment and improve energy security in the UK.</p>
<p>The CfD program awards contracts to renewable energy generators, such as offshore wind farms, based on their bid price, which has previously helped drive down the green tariffs in the country.</p>
<p>The program has successfully lowered renewable energy prices since the first auction in 2015, with the offshore wind price falling by almost 70% by 2022. The program has supported new low-carbon projects in Britain with a total capacity of 26.1 GW.</p>
<p>By investing more in supply chain sustainability, the sector could reduce its environmental impact and secure the resources and materials it needs for long-term growth. By investing more in skills development, the industry could train more technicians to build and maintain more advanced renewable energy generators.</p>
<p>Minister of State for Energy Security and Net Zero Graham Stuart said that the government wants to go further to ensure it maximizes the program&#8217;s potential to improve energy security and provide renewable energy developers who can make the necessary investment in supply chains and innovation, ultimately making for a more robust sector and helping the economy to grow.</p>
<p>The CfD program has helped the UK diversify, decarbonize, and domesticate its energy supplies, securing almost 11 GW of low carbon capacity in the last round &#8211; enough to power 12 million British homes.</p>
<p>The government has also committed a further budget of £205 million (~$254 million) to the program for the fifth allocation round, demonstrating its continued support for green industries and jobs. Since late 2020, the program has attracted billions of pounds in private investment and supported 68,000 green jobs nationwide.</p>
<p>The UK government is also <a href="https://www.mercomindia.com/uk-follows-european-carbon-price-on-imports" target="_blank" rel="noopener">considering</a> various policy options to prevent carbon leakage. One of these options is a carbon border adjustment mechanism, which would impose a carbon tax on imports based on their carbon content.</p>
<p>Early last year, the country <a href="https://www.mercomindia.com/britain-new-energy-security-strategy" target="_blank" rel="noopener">outlined</a> an Energy Security Strategy to accelerate the deployment of new renewable projects, including wind, nuclear and solar, to contribute to 95% of the electricity generated and aimed at installing 70 GW of solar capacity by 2035.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
<p style="height: 17px">
</div>
</div></div><div class="clearfix"></div></div></div>

UK Mulls Introducing Sustainability Weightage for Renewable Project Bids


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2023/01/amazon_polly_48470.mp3?version=1674826976">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Investments in the low-carbon energy transition have accounted for a record-breaking $1.1 trillion in 2022 and have reached parity with capital deployed for fossil fuel supply, a <a href="https://about.bnef.com/" target="_blank" rel="noopener">BloombergNEF</a> report has said.</p>
<p>The investment was primarily driven by the energy crisis and policy action, leading to faster deployments of clean energy technologies.</p>
<p>“Our findings put to bed any debate about how the energy crisis will impact clean energy deployment,” said Albert Cheung, Head of Global Analysis at BNEF. “Rather than slowing down, energy transition investment has surged to a new record as countries and businesses continue to execute transition plans.”</p>
<p>BNEF’s Energy Transition Investment Trends annually tracks how much funding businesses, financial institutions, governments, and end-users are committing to the low-carbon energy transition.</p>
<p>The report identified that all sectors achieved a new record level of investment in 2022, including renewable energy, energy storage, electrified transport, electrified heat, carbon capture and storage (CCS), hydrogen, and sustainable materials.</p>
<p>The only exception was nuclear power investment, which remained broadly flat.</p>
<p>Renewable energy remained the largest sector in investment terms, achieving a new record of $495 billion committed in 2022, up 17% from the year prior.</p>
<p>Electrified transport, which includes spending on electric vehicles and associated infrastructure, accounted for a 54% increase year-on-year with a $466 billion investment in 2022.</p>
<p>Despite interest from the private sector and growing policy support, the hydrogen sector received the least financial commitment at just $1.1 billion in 2022, which accounts for 0.1% of the total investment.</p>
<p>Yet the report suggests that the hydrogen sector is still the fastest growing with investment more than tripling over the year before.</p>
<p><strong>Country-Wise Investments</strong></p>
<p>China was the leading country in attracting energy transition investment, accounting for $546 billion, which comprises half of the global total.</p>
<p>The European Union region accounted for $181 billion, with countries like Germany, France, and the United Kingdom leading the investments.</p>
<p>The United States mobilized $141 billion in investments in clean energy technologies.</p>
<p><strong>Investment Categories</strong></p>
<p>The report also finds that climate-tech corporate finance totaled $119 billion in 2022. This investment category, not included in the $1.1 trillion, describes new equity financing raised by companies in the climate-tech space, either from public markets or private investors.</p>
<p>Supply chain and manufacturing investment rose to $79 billion, dominated by China.</p>
<p>BNEF also reported that investments in manufacturing facilities for clean energy technologies, grew to $78.7 billion in 2022, up from $52.6 billion in 2021.</p>
<p>Manufacturing facilities for batteries and related components formed the largest share of this at $45.4 billion, while solar factories attracted $23.9 billion.</p>
<p>China accounted for 91% of manufacturing investments in 2022, despite efforts from other countries to capture more of the global clean energy opportunity.</p>
<p>Between 2023 and 2026, BNEF estimates that factory investment for clean energy technologies only needs to average $35 billion per year, to get on track for its Net Zero Scenario.</p>
<p><strong>Ramp-up Needed for Net Zero</strong></p>
<p>Despite 2022’s results, global investment in lower-carbon technologies remains woefully short of what is needed to confront climate change.</p>
<p>For the world to get on a 2050 “net-zero” CO2 emissions trajectory, such investment must immediately triple, BNEF estimates.</p>
<p>Including the additional $274 billion invested in the power grid, energy transition investment hit $1.38 trillion in 2022.</p>
<p>By comparison, the world must invest an annual average of $4.55 trillion for the remainder of this decade to get on track under the net-zero scenario, the report concluded.</p>
<p>According to Mercom Capital’s <a href="https://mercomcapital.com/product/annual-q4-2022-solar-funding-ma-report/" target="_blank" rel="noopener">2022 Solar Funding and M&amp;A Report</a>, global corporate funding for solar companies, including venture capital, private equity, debt financing, and public markets, amounted to $24.1 billion in 2022.</p>
<p>The global corporate funding for energy storage, smart grid, and energy efficiency companies in 2022 totaled $31.7 billion, according to Mercom’s <a href="https://mercomcapital.com/product/annual-q4-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">Annual and Q4 2022 Funding and M&amp;A Report for Storage, Grid and Efficiency</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
</div></div><div class="clearfix"></div></div></div>

Low-Carbon Energy Tech Investment Exceeds $1 Trillion for First Time Globally


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/11/amazon_polly_44799.mp3?version=1668778949">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>At the UN Climate Change Conference (<a href="https://unfccc.int/cop27" target="_blank" rel="noopener">COP27</a>) in Egypt, India unveiled a multi-pronged strategy to achieve low-carbon growth, which includes expanding and stabilizing the renewable electricity grid, phasing down coal, increasing the adoption of electric vehicles, research and development into carbon removal and capture technologies, and the restoration and conservation of forests.</p>
<p>The Long-Term Low-Carbon Development Strategy (LT-LEDS) report prepared by the Ministry of Environment, Forest and Climate Change has laid out the vision for a sustainable future.</p>
<p>The country’s approach is based on the four key considerations that underpin its long-term low-carbon development strategy: One, the country has contributed little to global warming despite having a 17% share of the world’s population. Two, it has significant energy needs for development purposes. Three, the nation is committed to pursuing low-carbon strategies for development, and fourth is the need to build climate resilience.</p>
<p><strong> </strong>This comes a year after Prime Minister Narendra Modi announced India’s net-zero target at the COP26.</p>
<p>“We are particularly happy to present our strategy at COP27, which is the COP of implementation,” Union Minister for Environment, Forest and Climate Change, Bhupender Yadav said. “The two themes of climate justice and sustainable lifestyles are emphasized in our strategy alongside the UNFCCC principles of equity and common but differentiated responsibilities,” he added.</p>
<p><strong> </strong><strong>The Plan</strong></p>
<p>The strategy elaborates on the transition path from fossil fuels to more sustainable energy sources. The expansion of green hydrogen production, increasing electrolyzer manufacturing capacity in the country, and a three-fold increase in nuclear capacity by 2032 are some of the other milestones that are envisaged alongside the overall development of the power sector.</p>
<p>The low-carbon development of the country’s transport sector is pegged on the increased use of biofuels – especially ethanol blending in petrol – higher electric vehicle (EV) penetration, along with the increased use of green hydrogen fuel.</p>
<p>Additionally, India aspires to maximize the use of EVs, enhance ethanol blending to reach 20% by 2025, and make a strong shift to public transport.</p>
<p>Urbanization will continue as a strong trend wherein smart city initiatives will drive sustainable and climate-resilient urban development. It will involve integrated planning of cities, enhanced energy and resource efficiency, and rapid developments in innovative solid and liquid waste management.</p>
<p>The industrial sector will continue the strong growth with regard to ‘Aatmanirbhar Bharat’ and ‘Make in India’ policies. The low-carbon development transitions in the industry will not impact energy security, access, and employment.</p>
<p>The focus will be on improving energy efficiency through the Perform, Achieve, and Trade (PAT) scheme with the assistance of programs like the National Hydrogen Mission, a high level of electrification, and enhancing material efficiency and recycling.</p>
<p><strong>Syncing Climate Goals with Economic Commitments</strong></p>
<p>The transition to a low-carbon development pathway will entail costs for developing new technologies, infrastructure, and other transactions.</p>
<p>The provision of climate finance by developed countries will play a significant role and needs to be considerably enhanced through grants and concessional loans.</p>
<p>The strategy has been prepared in the framework of India’s right to an equitable and fair share of the global carbon budget. This is essential to ensure that there are no constraints on realizing India’s vision of rapid growth and economic transformation while protecting the environment.</p>
<p>In July, the International Energy Agency (IEA) <a href="https://mercomindia.com/diversifying-global-production-solar-modules-net-zero/" target="_blank" rel="noopener">found</a> that ensuring a secure transition to net-zero emissions requires increased efforts to expand and diversify the global production of solar modules, whose global supply chains are currently heavily concentrated in China.</p>
<p>Last year, the World Economic Forum (WEF) <a href="https://mercomindia.com/india-transition-to-a-net-zero-economy-offers/" target="_blank" rel="noopener">said</a> that India’s transition towards a net-zero economy can contribute over $1 trillion by 2030 and $15 trillion by 2070 in economic impact and provide over 50 million new jobs.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
</div></div><div class="clearfix"></div></div></div>

India Announces Long-Term Low-Carbon Development Strategy at COP27


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/10/amazon_polly_43503.mp3?version=1666773819">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Asset management firm <a href="https://www.blackrock.com/institutions/en-us" target="_blank" rel="noopener">BlackRock</a> has raised $4.5 billion in its initial investor commitments for a new fund to invest in climate and clean energy-focused projects.</p>
<p>The BlackRock Global Infrastructure Fund IV (Infra IV), with a target of $7.5 billion, will invest in essential infrastructure assets globally by securing initial commitments from a diverse group of institutional investors, including public and private pension funds, sovereign wealth funds, insurance companies, and family offices.</p>
<p>The new fund aims to invest across five sectors &#8211; Energy &amp; Environmental, Low Carbon Power, Regulated Utilities, Transportation &amp; Logistics, and Digital Infrastructure.</p>
<p>Infra IV aims to build a diversified portfolio of essential, contracted infrastructure assets and businesses worldwide that are well-positioned to capitalize on three long-term structural trends accelerated by the global energy transition – Decarbonization, Decentralization, and Digitalization.</p>
<p>The latest fund succeeds Global Energy &amp; Power Infrastructure Fund III (GEPIF III) and recognizes that the global energy transition is driving changes in many sectors beyond energy and power. The GEPIF III <a href="https://mercomindia.com/blackrock-raises-5-1-billion-for-renewable-energy/" target="_blank" rel="noopener">held</a> a final close of $5.1 billion in 2020.</p>
<p>The BlackRock Alternatives infrastructure platform offers a leading suite of strategies to help clients invest in climate solutions and accelerate the transition to a low-carbon economy.</p>
<p>The company said the energy transition presents many investment opportunities for infrastructure investors. The fund’s portfolio management team has significant experience investing in infrastructure assets aligned with the transition, including carbon capture, renewable power, energy efficiency, and renewable fuels. Infra IV is expected to continue to target investments in climate solutions while supporting the infrastructure needed to ensure a stable, affordable energy supply during the transition.</p>
<p>BlackRock Alternatives’ infrastructure platform currently manages over $50 billion in client assets across infrastructure equity, infrastructure debt, listed securities, and solutions strategies.</p>
<p>Earlier this year, BlackRock Alternatives Management and Abu Dhabi government’s investment vehicle Mubadala Investment Company announced an investment of ₹40 billion (~$525 million) in Tata Power Renewable Energy. The investment in terms of equity share allotment was recently <a href="https://mercomindia.com/tata-power-sale-of-83-6-million-shares-blackrock-mubadala/" target="_blank" rel="noopener">approved</a> by Tata Power.</p>
<p>In August last year, BlackRock Real Assets <a href="https://mercomindia.com/funding-and-ma-roundup-blackrock-solar/" target="_blank" rel="noopener">signed</a> an agreement to acquire an undisclosed equity stake in a South Korean solar aggregator and operator, Brite Energy Partners. The firm aims to inject more than $100 million in capital over time to fund the acquisition and construction of solar assets of over 350 MW in power generation capacity.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/satish-shetty/" class="vcard author" rel="author"><span class="fn">Satish Shetty</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Satish Shetty,</strong> Associate Editor at Mercom India<br />
<a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener">More articles from Satish Shetty.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener"><strong style="color: #00b451">Satish Shetty</strong></a> is an Associate Editor with Mercom India. Prior to Mercom, Satish was a multimedia news producer at Reuters, where he gained experience in digital news media. Satish has his Bachelor of Arts (B.A.) degree in Broadcast Journalism from Limkokwing University of Creative Technology, Malaysia.<br />
<a href="https://mercomindia.com/author/satish-shetty/" rel="noopener noreferrer">More articles from Satish Shetty.</a></div>
</div></div><div class="clearfix"></div></div></div>

BlackRock Raises $4.5 Billion for Clean Energy Focused-Infrastructure Fund

<p>Singapore&#8217;s Energy Market Authority (<a href="https://www.ema.gov.sg/index.aspx" target="_blank" rel="noopener noreferrer">EMA</a>) and Keppel Offshore &amp; Marine (<a href="http://www.keppelom.com/" target="_blank" rel="noopener noreferrer">Keppel O&amp;M</a>) have announced that they have signed a memorandum of understanding (MOU) and entered into a $10 million (~₹759.42 million) partnership to develop energy solutions in the areas of distributed energy resources, digitalization, and emerging low-carbon alternatives.</p>
<p>This comes in light of the energy industry&#8217;s call for innovative energy solutions in the marine sector for the adoption of cleaner energy and to promote environmental sustainability. The parties said they would launch a grant call for solutions related to offshore and marine energy storage systems and smart power grids.</p>
<p>Ideas from the grant call could be adopted to create real-world solutions to enhance the grid. Participants who get shortlisted through the call will be allowed to test their solutions using the Floating Living Lab (FLL), Keppel O&amp;M&#8217;s offshore floating testbed in Singapore. The FLL is expected to be operational by the end of 2021.</p>
<p>These solutions aim to reduce overall energy usage and carbon footprint while enhancing overall operational efficiency. The grant call intends to encourage innovation and capacity building for the broader industry ecosystem in the country.</p>
<p>&#8220;We are seeking solutions that incorporate the use of cleaner energy, optimize energy consumption, and reduce carbon emissions. By doing so, we are building Singapore&#8217;s Energy Story by co-creating solutions for a more sustainable energy future with stakeholders,&#8221; said Ngiam Shih Chun, Chief Executive of the EMA.</p>
<p>Keppel Offshore &amp; Marine is a Singapore-based company that deals with offshore rig design, construction and repair, ship repair and conversion, and specialized shipbuilding.</p>
<p>Recently, Singapore&#8217;s CapitaLand <a href="https://mercomindia.com/singapores-capitaland-receives-green-buildings/" target="_blank" rel="noopener noreferrer">secured</a> a total of S$400 million (~$282.65 million) in a green loan to increase its green assets and enhance its global portfolio by 2030. Out of the total amount, S$150 million (~$106 million) has been provided by DBS Bank Ltd (DBS).</p>
<p>Mercom also <a href="https://mercomindia.com/singapores-sembcorp-rec-trading-platform/" target="_blank" rel="noopener noreferrer">reported</a> that Sembcorp Industries, a Singapore-based renewable energy company, launched a renewable energy certificate (REC) trading platform that manages RECs from multiple sources.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nithin-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas Prasad</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft wp-image-9822" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" alt="" width="102" height="102" /><a href="https://mercomindia.com/author/nithin-prasad/" target="_blank" rel="noopener"><strong style="color: #00b451">Nithin Thomas</strong></a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai. <a href="https://mercomindia.com/author/nithin-prasad/">More articles from Nithin.</a></p>
<div class="ms-editor-squiggler" style="color: initial;font: initial;background: initial;background-blend-mode: initial;border: initial;border-radius: initial;border-collapse: initial;caption-side: initial;clear: initial;columns: initial;column-fill: initial;column-rule: initial;column-span: initial;cursor: initial;flex: initial;flex-flow: initial;float: initial;height: 0px;letter-spacing: initial;margin: initial;max-height: initial;max-width: initial;min-height: initial;min-width: initial;overflow: initial;padding: initial;text-align: initial;text-decoration: initial;text-indent: initial;text-transform: initial;vertical-align: initial;border-spacing: initial;width: initial"></div>
</div></div><div class="clearfix"></div></div></div>

low-carbon

Get the most relevant India solar and clean energy news.

RECENT POSTS