Avaada Group has inked a memorandum of understanding (MoU) with state-run REC for setting up a green hydrogen and green ammonia hub in Gopalpur, Odisha. The non-banking financial company (NBFC) in the power sector has entered into an agreement with the Avaada Group, pledging Rs 15,000 crore for an upcoming green hydrogen and ammonia facility
The competition for India’s contract for six new P75I submarines is in its final stages, with Spain and Germany emerging as front runners. Spain is vying for this contract with the sophisticated S-80 model—an ingenious creation from Navantia set to debut in the Spanish Navy. Germany is putting forward the reliable Type 214, manufactured by
Japanese shipowner Mitsui OSK Lines has returned to Samsung Heavy Industries with an order for one more LNG carrier. In an exchange announcement last week, the South Korean shipbuilder said it had received the order from an Asian owner without naming the company behind the vessels. Brokers have placed MOL behind the deal worth around
Dubai terminal operator DP World has raised $1.5bn through a green sukuk. The sukuk, which was oversubscribed 2.3x due to strong demand from local, regional and international investors, is listed on both Nasdaq Dubai and the London Stock Exchange. Proceeds will be earmarked for eligible green projects including electrification, renewable energy, clean transportation and energy
Belgian owner Exmar will become the first shipowner in the world to take delivery of ammonia powered ships in the first half of 2026. Exmar has two 46,000 cu m LPG carriers contracted earlier this year with Hyundai Mipo Dockyard, with these ships set to be able to operate on ammonia or LPG. The engines
The Government has introduced a special program where an individual or entity can earn green credit and trade it on a dedicated exchange. Green Credit refers to a unit of an incentive provided for a specified activity; delivering a positive impact on the environment. This programme will cover 8 types of activities. Tree plantation which
India, which is resisting calls to commit to a deadline for phasing out its own use of coal and other fossil fuels, is set to make its proposal at the COP28 climate summit in Dubai later this year. India wants to push developed nations to become carbon negative rather than carbon neutral by 2050, arguing
The Ministry of New and Renewable Energy (MNRE) set a target to achieve 500 GW of installed renewable energy capacity by 2030, which is expected to create a growth opportunity for the market in the future and the Indian renewable energy market is expected to register a CAGR of more than 10%. Green Energy Stocks
India, the world’s fourth largest refiner, will add as much as 56.6 million tonnes per annum (mtpa) of crude oil refining capacity in the next seven years of which 84 per cent will be through brownfield expansion. At present, the world’s third largest crude oil consumer has a cumulative refining capacity of almost 254 mtpa,
Indian Biogas Association (IBA), an industry association comprising operators, manufacturers, and planners of bioenergy plants, has received a commitment of investment worth Rs 2,755 crore during the Renewable Energy India Expo 2023. The association has signed joint ventures (JVs), MoUs (memorandum of understanding) and received LoIs (letter of intent) commitments during the recently concluded Renewable