India needs to invest up to $7 tn for netzero

India may need to invest as much as $7 trillion to achieve its net zero carbon emission target by 2050, a task that seems more plausible by 2070, according to Rajat Verma, Founder & CEO of battery recycling firm LOHUM. As per Verma, the transition demands close to $300 billion of investment annually. This is

Essar Group’s EET Hydrogen initiates FEED for 1,000 MW plant

The project aligns with the UK’s low-carbon hydrogen initiatives and marks a pivotal step in Essar’s transition to a leading hydrogen producer, aiming to deliver 4GW of low-carbon hydrogen by 2030. Expected to be one of the world’s largest, this EET Hydrogen facility will annually produce 230,000 tonnes of low carbon hydrogen. Essar Group-led EET

BSI releases 9 standards for biofuels

India’s national standards body, The Bureau of Indian Standards (BIS), released standards on Biofuels. Biofuels which are produced from biomass used to blend with fossil fuels to reduce emissions. India has a target to blend 20 per cent ethanol biofuels into its fossil fuels used in transportation and save the state’s exchequer from importing crude

ABS, AL Group to study methanol fuel conversion for bulker

ABS and Asiatic Lloyd Maritime LLP, member of the AL Group, have signed a joint development project to study the feasibility of converting the fuel system of an ultramax bulk carrier, from conventional diesel to methanol. The study is focused on a series of up to eight ABS Classed ultramax bulk carriers ordered for construction

India to set emission reduction mandates for four sectors

India will set carbon emission reduction targets for four fossil fuel dependent sectors, as it looks to align its industry with the country’s greenhouse emissions reduction target, two government officials said. The country will fix carbon emission intensity benchmarks and reduction targets for three years for companies in petrochemicals, iron and steel, cement and pulp

REC to finance green H2 projects with $6bn

Financier of energy projects in India REC has signed preliminary agreements worth 500bn Indian rupees ($6bn) to develop green hydrogen and ammonia projects, REC’s chairman and managing director Vivek Kumar Dewangan said. REC made its first major publicly-announced contribution to a green hydrogen and ammonia project in July, with a Rs40bn loan to Indian renewables

IEA sees ammonia as alternative solution for shipping

The International Energy Agency (IEA) said in a 2023 update of its ‘Net Zero by 2050’ report that shipping will primarily turn to ammonia to decarbonise the sector. The ‘Net Zero by 2050: A Roadmap for the Global Energy Sector‘ report was published in 2021. It translated the goal of limiting global warming to 1.5°C

Viridis Bulk to order construction of two ammonia carriers

Norwegian government enterprise Enova has decided to grant NOK 152m ($14.1m) to Viridis Bulk Carriers for the construction of two ammonia-powered bulk carriers. Viridis Bulk Carriers expect to place orders for the two ships near the end of 2023, with deliveries starting in 2025. The two ammonia-powered bulkers, designed by Kongsberg Maritime, will have a

MOL, NYK and K Line join forces to develop hydrogen carriers

Japan’s three largest shipowners are joining forces with Kawasaki Heavy Industries and industrial gas firm Iwatani Corporation to develop hydrogen carriers together. Mitsui OSK Lines (MOL), Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) are each taking a 16.6% in new firm JSE Ocean, designed to quickly build up Japan’s maritime hydrogen supply

Rolls-Royce’s hydrogen research project achieves historic milestone

In a groundbreaking development, Rolls-Royce has achieved a remarkable milestone in its hydrogen research project, setting a world industry first. This endeavor represents a significant stride towards pioneering hydrogen combustion engine technology, capable of propelling various aircraft, including those in the narrow-body market segment, starting from the mid-2030s. Partnering with easyJet, Rolls-Royce has been relentless