India will become largest source of global oil demand growth, says IEA

India will in seven years become the largest source of global oil demand growth as its domestic production shrinks 22 per cent, said the International Energy Agency (IEA) in the latest report titled ‘Indian Oil Market Outlook to 2030’. It further added that while growth in developed economies and China initially slows and then subsequently

Shell kicks off sale process of Sprng Energy

Global energy major Shell Plc has kicked off the sale process for its Indian renewable energy unit Sprng Energy and has started reaching out to prospective buyers for the portfolio, which could fetch an enterprise value of $1.6-1.8 billion, two sources aware of the development told Moneycontrol. Shell acquired the Sprng Energy platform from infrastructure

EST-Floattech delivers octopus series energy storage solution

EST-Floattech, a leading provider of maritime energy storage solutions, announces the successful delivery and commissioning of the Octopus Series battery system on the SFK Ferry Laboe. The ferry was recently successfully delivered to Schlepp- und Fährgesellschaft Kiel (SFK) by Holland Shipyards Group. It is the 6 th ferry in a series of 7 ferries with

TERI to launch green-shipping portal

During the World Sustainable Development Summit in New Delhi, The Energy and Resources Institute (TERI) will launch a green-shipping portal to track practices by ports across the country and collate all information available at national and international levels for ports and shipping practices. At the summit, which will take place in New Delhi from 7-9

ERMA FIRST joins charter for EU mission ‘restore our ocean and waters by 2030’

 ERMA FIRST, a leading sustainable maritime solutions provider, has become a signatory of the EU Mission Charter targeting the protection and restoration of regional waters by 2030. The Mission – one of five EU Missions within the Horizon Europe research and innovation programme – aims to “protect and restore the health of our ocean and

Submissions fly in for next month’s MEPC

Submissions are flying in to the London headquarters of the International Maritime Organization (IMO) ahead of the eighty-first session of the Marine Environment Protection Committee (MEPC) next month where the focus will be on developing legally-binding measures to ensure last year’s milestone agreement to phase out greenhouse gases from shipping by 2050 is made possible.

Australia to impose fuel efficiency standard in 2025

Australia’s federal government plans to introduce a long-awaited fuel efficiency standard for passenger and light commercial vehicles on 1 January 2025, after announcing a one-month consultation period before drafting new laws. Canberra has announced its preferred model for the standard, which it committed to in last year’s budget after releasing its electric vehicle (EV) strategy

Govt to raise subsidy for rooftop solar installation to 60%

The government is set to increase the subsidy for rooftop solar installations to about 60% under the new Pradhan Mantri Suryoday Yojana, union minister for new and renewable energy R K Singh said. Currently, the government provides a 40% subsidy for rooftop solar installations. The enhanced subsidy aims to support consumers with electricity consumption below

CMA CGM, Masdar agree to work for green alternative fuels

The CMA CGM Group and Masdar have signed a long-term agreement for green maritime fuels to supply CMA CGM vessels. The cooperation is set to facilitate the deployment of CMA CGM’s new generation of dual-fuel ships ready to use biofuels and e-fuels based on methane and methanol, of which 35 are currently in fleet and

Green fuel gets boost in Interim Budget 2024

Finance Minister Nirmala Sitha­raman announced a slew of initiatives aimed at bolstering the green energy sectors while presenting the Interim Budget. She outlined a comprehensive road map for sustained economic growth. The finance minister announced a new scheme for converting biomass into Compressed Bio Gas (CBG) and phased mandatory blending of CBG with natural gas