Green finance, green energy, global warming, climate change

Green energy developer Avaada Group on Monday announced that it has entered into an agreement with Al Jomaih Energy and Water (AEW) to develop renewable power projects in Saudi Arabia.
The projects will be developed in Saudi Arabia and selected Middle Eastern regions, Avaada Group said in a statement.
"Avaada Energy (group firm) announces a strategic partnership with AEW to pioneer renewable power generation in the Kingdom of Saudi Arabia and selected Middle Eastern regions," the company said.
Vineet Mittal, Chairman of Avaada Group, said the alliance is set to explore the potential of solar, wind, hybrid, and battery Energy Storage solutions.
Under the Memorandum of Understanding (MoU), AVAADA will act as a technology partner and provider of solutions for renewable energy (RE) installations, while AEW will provide essential resources, the statement said.
The MoU was announced amid Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud's official state visit to India. Prime 

tata steelwork, tata, tata group

AVAADA Group on Thursday said it has signed an agreement with Tata Steel Special Economic Zone Ltd (TSSEZL) to set up a green hydrogen and ammonia manufacturing unit in Odisha.
The unit will be set up at Gopalpur Industrial Park in Ganjam district in Odisha.
In a statement, AVAADA Group announced "an initiative to establish a cutting-edge green hydrogen and ammonia manufacturing unit in Odisha. This significant move comes in the wake of a Memorandum of Understanding (MoU) inked with Tata Steel Special Economic Zone Limited (TSSEZL)".
The company did not disclose financial details related to the proposed project.
The project is expected to generate around 1,600 direct and 4,000 indirect employment opportunities and aims to curtail nearly 2 million tonne of Co2 emissions annually.
AVAADA Group Chairman Vineet Mittal said, "The collaboration is geared towards fast-tracking the shift to green energy and bolstering India's ambition to emerge as a global green hydrogen manufacturing hub

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Avaada Energy on Monday said it has bagged a 280 megawatt renewable energy project from Solar Energy Corporation of India (SECI).
SECI is the nodal agency of the central government for auctioning renewable energy projects.
"Avaada Energy has won the 280 MWp project under tariff-based competitive bidding carried out by SECI as a part of SECI's 2 GW ISTS  (inter-state transmission system ) connected solar projects (Tranche XI)," the company said in a statement.
The bidding allows flexibility to Avaada Energy to set up the solar power project anywhere in India and supply green electricity on long term at a tariff of Rs 2.61/kWh (kilowatt hour).
The project will become operational within 18 months from the signing of power purchase agreement (PPA), it said.
The company did not disclose any financial details related to the project. As per industry standards, Rs 6-7 crore is required to set up 1 MW of green energy capacity.

Rural Electrification Corporation (REC) has signed a memorandum of understanding with Avaada Group to fund its energy transition projects worth Rs 20,000 crore.
The MoU was signed between REC officials and Avaada Group Chairman Vineet Mittal at the sidelines of the ongoing G20 Clean Energy Ministerial meeting in Goa.
Avaada is a leading company in India's renewable energy sector.
Mittal said projects, spanning across various states, will be implemented over the next two years. The total projects are worth Rs 20,000 crore.
This landmark collaboration with REC symbolises a monumental stride towards India's energy self-sufficiency, he noted.
"It exemplifies our staunch commitment to nurturing a sustainable future and propelling India's green energy transition," he added.
Mittal said there is a project in Bihar, another in Rajasthan, and also there are projects in Maharashtra, which would be implemented over the next two years.
He said that in the coming five years, Avaada is primed

green hydrogen

The meeting was attended by officials from EU governments and Indian renewable companies, including Avaada Group, Renew Power and ACME Group

solar projects

Avaada Energy on Thursday said it has bagged a 400 MW solar project from Gujarat Urja Vikas Nigam Ltd.
The company did not disclose the financial details of the project.
"Avaada Energy, an arm of Avaada Group  India's leading integrated energy group with business interests in renewable power generation, solar module manufacturing, electrolyser manufacturing and Green Ammonia production, has received the Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) to set up 400 MW (DC) solar project," a company statement said on Thursday.
The company has won 200 MW under base capacity at a tariff of Rs 2.75/kWh and another 200 MW under a green shoe option at a tariff of Rs 2.71/kWh from GUVNL under a tariff-based competitive bidding process followed by an e-Reverse auction.
Post commissioning, the plant will produce 740 million units of green electricity per year, leading to a reduction of approximately 6,88,940 tonnes of CO2 equivalent emissions, annually.
"This is another

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Avaada Energy on Tuesday said it has bagged a 280 megawatt (MW) solar project from Rajasthan Urja Vikas Nigam Limited (RUVNL).
The project, bagged through a bidding process, will be commissioned within 18 months, the Avaada Group company said.
As per the bid terms, the solar power generated from the project will be supplied to RUVNL for 25 years at a tariff of Rs 2.62 per kWh (kilowatt hour), it said in a statement.
Avaada Energy CEO Kishor Nair said, "This is another feather in our cap as we expand our presence in Rajasthan. I am certain that such ambitious projects, built with collaborations with the government, will lead India to a greener future."
The plant will generate about 500 million units per annum which will help to reduce 4,65,500 tonnes of CO2 equivalent emissions annually. The solar project can potentially power 3.6 lakh households with green energy.

green energy

Avaada Ventures recently signed a memorandum of understanding with the Rajasthan government worth Rs 40,000 crore for setting up a green ammonia manufacturing plant

Hydrogen fuel

Avaada currently operates a renewable energy portfolio of 4 gigawatt (GW) with plans to reach 11 GW by 2026

Renewable energy company Avaada Energy on Friday said it has bagged a 421 MW solar project from Damodar Valley Corporation (DVC).
The project was awarded through a competitive bidding followed by an e-reverse auction in which Avaada emerged as the winner with a quoted tariff of Rs 2.70/kWh.
In a statement, Avaada said "it has won the 421 MW (DC) ISTS-connected Solar PV bid in an auction conducted by REC Power Development and Consultancy Ltd (RECPDCL) on behalf of DVC."
As per bid terms, a power purchase agreement will be inked between the two entities for 25 years, and the project will be commissioned within 18 months.
The plant is expected to generate about 750 million units green energy annually which will reduce 6,98,250 tonne CO2 equivalent emissions. The solar project can potentially power 5 lakh households.
"India is one of the fastest-growing markets for renewable energy globally. With ambitious targets and commitments to a green future, we are confident that massive ...

Solar Power

The 39.6 gigawatts of manufacturing capacity is expected to require investment of 930.4 billion rupees, according to a government statement

solar energy, solar cells

Stainless steel maker Viraj Profiles along with Avaada Energy will set up a 100 MW solar project in Tarapur, Maharashtra.
The aim is to make the captive project operational by February 2024, Viraj Profiles said in a statement on Friday.
The company did not disclose financial details of the project.
According to industry estimates, an investment of about Rs 5 crore is required to set up every 1 MW of solar capacity.
Once commissioned, the plant will generate about 207 million units of green energy per year, which will offset approximately 182 million kilos of CO2, the statement said.
"Viraj Profiles along with Avaada Energy shall set up a special purpose vehicle (SPV) to build the 100 MW captive solar plant," it said.
The power generated will be used for captive consumption by Viraj Profiles' stainless steel unit in Tarapur, reducing its dependence on conventional sources by 50 per cent.

Solar power, solar panels

The financial assistance is part of PM Modi's aim to turn the nation into a manufacturing powerhouse, creating more jobs in the economy and reducing imports that can drain foreign exchange

Solar energy

The acquisition has been made through Global Renewable Synergy Company Ltd, a wholly-owned subsidiary of Global Power Synergy Public Company Limited

bharti airtel

Avaada MHBuldhana Private Limited is a newly-formed company and developing a captive generating solar power plant in Maharashtra which will become operational by March 2021

Overnight schemes gain traction as Sebi tightens norms on liquid funds

In April, Avaada received a total investment of over Rs 1,000 crore from Asian Development Bank, DEG, Dutch finance development company FMO and company's promoter

Avaada energy, Avaada power

Avaada says it is looking at 5,000 Mw in solar and wind energy, both in India and abroad

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

Adani, Adani Group

454 members voted in favour of the Bill, while two voted against it.

Lok Sabha

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range

US Federal Reserve

A fraction of the PLI incentives has been claimed so far, prompting the government to allocate unused funds to new sectors

Indian economy

Stock market Update on Thursday, September 21: ICICI Bank, SBI and Mahindra & Mahindra, down up to 3 per cent, were the major losers among the  Sensex 30 stocks.

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The Congress on Monday urged the government to bring Women Reservation Bill in the parliament and highlighted the issue of unemployment saying rising joblessness will finish democracy in the country.
During a discussion on 'Parliamentary Journey of 75 years Starting from Samvidhan Sabha  Achievements, Experiences, Memories And Learnings' leader of the opposition Mallikarjun Kharge from Congress said, "Women Reservation Bill should come. We all tried. This issue if you (Chair) raise then they will."
Kharge highlighted the small numbers of women lawmakers in parliament, saying they constituted only 14 per cent in both houses combined, while their number in legislative assemblies is just 10 per cent.
The proportion of women MPs was just five per cent in first Lok Sabha in 1952.
Kharge told the House that the proportion of women members had risen to 28 per cent from two per cent in the US Parliament while in Britain, it jumped to 33 per cent from three per cent.
Ram Nath Thakur of JD(

Congress president Mallikarjun Kharge

Rajya Sabha Chairman Jagdeep Dhankhar on Monday said the strategy of "weaponising disruption and disturbance" will never be accepted by people and asked MPs to avoid confrontational posturing.
As the Rajya Sabha proceedings began on the first day of the five-day Parliament session, Dhankhar, in his opening remarks, said, "Traversing the seven-decade journey, from Samvidhan Sabha to the present day in Amrit Kaal, these hallowed precincts have witnessed many milestones."
"Hon'ble members, this journey had historical moments -- from 'Tryst with Destiny' on the midnight of August 15, 1947, to the unfolding of the innovative forward-looking GST regime on midnight of June 30, 2017, and now this day," the Rajya Sabha chairman said.
The five-day 261st session of the Rajya Sabha started on Monday with a discussion on 'Parliament Journey of 75 years starting from Samvidhan Sabha -- Achievements, Experiences, Memories and Learnings'.
The chairman said that the deliberations in the Constituent

Rajya Sabha Chairman Jagdeep Dhankhar

Senior Congress leader Shashi Tharoor on Monday said Prime Minister Narendra Modi was "selective" in his speech in Parliament and did not talk about the rights given to people during the Manmohan Singh government.
While acknowledging that the prime minister said some "very good things" in his speech and spoke well, Tharoor said there had also been failures under his prime ministerial tenure such as when demonetisation happened, there was no discussion in Parliament.
Prime Minister Modi lauded the vision of first prime minister Jawaharlal Nehru and subsequent leaders, including Lal Bahadur Shastri, P V Narasimha Rao and Atal Bihari Vajpayee, but also reminded the Lok Sabha of the 'cash-for-vote' scam during the Manmohan Singh government.
Reacting to the prime minister's speech, Tharoor said, "He (Modi) said some very good things but he also did not say some things which he should have said. Our country has had many successes and failures and he chose according to his will, that is fi

Shashi Tharoor, Congress MP Tharoor

Amid heightened tensions at their borders, Pakistan's caretaker Prime Minister Anwaar-ul-Haq Kakar has written to his Afghan counterpart Mullah Muhammad Hasan Akhund that the two countries should work together to achieve common goals, a media report said on Monday.
"Pakistan has close fraternal relations with Afghanistan as we are neighbours and brothers. Pakistan-Afghanistan relations are rooted in religion, culture and history," The News International newspaper reported on Monday.
Kakar's letter to Afghanistan's interim Prime Minister comes amid the heightened tensions between Pakistan and Afghanistan due to rising cross-border attacks on Pakistani soil, it said.
Islamabad blames the Afghan Taliban for supporting Tehreek-e-Taliban Pakistan (TTP), a dreaded militant group fighting to impose the law of Sharia across Pakistan, which frequently carries out attacks in cash-strapped Pakistan.
Kakar said that Islamabad was determined to further strengthen bilateral, political, security,

Pakistan flag

Only 2,000 of the 10,500 manufacturing units in the country have the World Health Organization's GMP certification

pharmacy, drugs, medicine, pharma companies, pharmaceuticals

The government introduced the Women's Reservation Bill in the Parliament almost three decades after it was first drafted

Parliament

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

TRAI

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

Canada said it was expelling a top Indian diplomat Monday as it investigates what Prime Minister Justin Trudeau called credible allegations that India's government may have had links to the assassination in Canada of a Sikh activist.
Trudeau said in Parliament that Canadian intelligence agencies have been looking into the allegations after Sikh leader Hardeep Singh Nijjar, a strong supporter of an independent Sikh homeland known as Khalistan, was gunned down on June 18 outside a Sikh cultural centre in Surrey, British Columbia.
Trudeau told Parliament that he brought up the slaying with Indian Prime Minister Narendra Modi at the G-20 last week, that he told Modi that any Indian government involvement would be unacceptable and that he asked for cooperation in the investigation.
Canadian Foreign Minister Mlanie Joly said the head of Indian intelligence in Canada has been expelled as a consequence. "If proven true this would be a great violation of our sovereignty and of the most basic

Hardeep Singh Nijjar

MEA's statement comes after Canada expelled an Indian diplomat on Monday as it investigates credible allegations that India's government may have had links to the assassination in Canada

Canadian Prime Minister Justin Trudeau arrives for his daily press conference on COVID-19, in front of his residence at Rideau Cottage in Ottawa. Photo: PTI

Justin Trudeau

Multiplex Association of India (MAI) on Thursday announced that the National Cinema Day will be held on October 13 this year.
Movie enthusiasts will be charged only Rs 99 per admission at cinema halls across the country, the national multiplex trade body said in a press release.
Over 4,000 screens at multiplexes from India, including PVR INOX, Cinepolis, Miraj, and Delite, have teamed up to participate in the National Cinema Day celebrations, it stated.
"This special occasion brings audiences of all ages together for a day of cinematic bliss, celebrating the incredible success of multiple films at the box office this year.
"It's a heartfelt 'thank you' to all the moviegoers who contributed to this success and an open invitation to those who haven't yet returned to their local cinema," the association said.
According to MAI, cinegoers can watch any show of any film on October 13 for Rs 99, excluding the recliner and premium formats.
Last year, the association marked the National C

theater

Luxury taxis in West Bengal will be allowed to be painted in any colour other than white or cream for a fee of Rs 20,000 for each vehicle, a notification issued by the state transport department said.
The authorities will grant permission for motor cabs (luxury taxis), rendering limousine service, to be painted in any colour other than white or cream, for which an amount of Rs 20,000 will be charged as an application fee from the interested service provider for each vehicle, said the notification, issued by Transport Department secretary Saumitra Mohan on September 19.
Necessary amendments in the West Bengal Motor Vehicles Rules, 1989, shall be made in due course, it said.
According to the notification, the department has been receiving proposals for granting permission for all Bengal luxury taxi permits for vehicles to be painted in any colour other than white or cream.
"As per Rule 270(2) of West Bengal Motor Vehicles Rules, 1989, the state transport department may, by order, all

taxi

Protests erupted in various parts of Cauvery river basin districts of Karnataka after the  Supreme Court refused to interfere with orders of the Cauvery Water Management Authority and Cauvery Water Regulation Committee, directing the state to release 5,000 cusecs of water to neighbouring Tamil Nadu.
Farmers organisations and pro-Kannada organisations staged protests in Mysuru, Mandya, Bengaluru and other parts expressing their anger and urging the state government not to release water to Tamil Nadu.
Karnataka Rajya Raitha Sangha and Hasiru Sene (farmers organisation) staged a protest at Basaveshwara circle in Mysuru, and raised slogans: "Where is water to release? And we demand justice."
They have also planned to lay siege to the Command Area Development Authority office in Mysuru, as a mark of protest.
Pointing out that Cauvery and Kabini basin taluks have already been declared as drought hit, a farmer leader alleged, CWMA orders are in favour of Tamil Nadu as it is without taking

Protests erupt in Karnataka as SC refuses to interfere with orders to release Cauvery water to TN

Supreme Court

Event will be exclusively for company's Apache RTE motorcycles that will make debut

TVS Motor company

The International Day of Peace has started by the UN General Assembly and the day is dedicated to strengthening the ideals of peace and marking an end to conflict and violence worldwide

Heatmap

Avaada

Avaada Energy, Al Jomaih Energy Water partner for green energy projects

AVAADA, Tata Steel SEZ to set up green hydrogen, ammonia unit in Odisha

Avaada Energy bags renewable energy project from Solar Energy Corp India

REC, Avaada Group sign pact for energy projects worth Rs 20,000 crore

India in talks to supply tonnes of green hydrogen to EU, Singapore: Report

Avaada Energy bags 400 MW solar project from Gujarat Urja Vikas Nigam

Avaada Energy bags 280 MW solar project from Rajasthan Urja Vikas Nigam

Avaada Ventures secures $1.07 billion funding for expansion plans

Brookfield to invest $1 bn in Avaada Group to fund green hydrogen project

Avaada Energy gets 421 MW solar project from Damodar Valley Corporation

First Solar, Reliance, Avaada Group among winners of $2.4 bn green aid

Viraj Profiles with Avaada Energy to set up 100 MW solar plant in Maha

Reliance, Tata Power, others bid for Rs 19,500 cr solar incentives

Thailand's Global Power System acquires 41% stake in Avaada Energy

Bharti Airtel to acquire 5.2% stake in Avaada MHBuldhana for Rs 4.55 cr

Avaada Energy gets $15 mn funding from French finance institution Proparco

Avaada to raise funds abroad for solar energy projects in Vietnam, Africa