ABS signed a memorandum of understanding (MoU) with the Korea Hydrogen Industry Association (KHIA) and the University of Ulsan, Foundation for Industry Cooperation (UOUFIC) to develop a small, 40-seat vessel for tourism, equipped with electric propulsion using a 350-kW hydrogen fuel cell. The zero-emission vessel qualifies as one of the research, development and demonstration (RD&D)
The renewable energy unit of South Korea’s SK Inc secured a site required to develop a $15 billion green hydrogen project in Canada that’s set to be one of the world’s biggest. SK ecoplant Co received approval to use 1,078 square kilometres (670 square miles) of Canada’s state-owned property, known as Crown Land, to harness
Mubadala Capital, the $20 billion global asset management firm, and Petrobras, the Brazilian integrated energy company, signed a Memorandum of Understanding (MoU) that will see the two parties explore a potential investment by Petrobras into a biofuel project currently being developed by Mubadala Capital in the State of Bahia, Brazil. The MoU builds on an
India’s proposal for a global alliance on biofuels among G20 members aims to accelerate the deployment of sustainable biofuels as part of the global energy transition. More importantly, this initiative parallels the International Solar Alliance (ISA), which was piloted by New Delhi and Paris in 2015 to promote clean and affordable solar energy worldwide. The
The finance ministry has reduced to windfall tax on the sale of locally-produced crude oil to Rs 6,700 per tonne. However, the ministry has raised the Special Additional Excise Duty (SAED) on the export of diesel to Rs 6 per litre from Rs 5.50 a litre. The levy on the export of aviation turbine fuel
ONGC is the largest oil and gas producer in India and is now swiftly scaling up its renewable capacity and aims to invest in multiple low-carbon projects. ONGC has 189 megawatts of electricity. The company is building a 5 GW solar energy project in Rajasthan and has laid down plans to set up offshore wind
India will need to invest 5% of its GDP annually to meet net-zero emissions by 2050. With the unavoidable El Niño phenomenon having drained August of monsoonal rains, we just had a bite-sized look into what remains in store for us vis-a-vis our current climate trajectory. A major win that will fortify our green transition
EEL Biofuels has announced an advancement in renewable energy technology with the development of its revolutionary algae-based biofuels. This cutting-edge technology is poised to revolutionise the energy sector by providing a game-changing alternative to traditional fossil fuels. The core of their success lies in harnessing the power of nature’s own biofactory – algae. With algae’s
State-run Dalian Shipbuilding Industry Co (DSIC) has received a third order for a 7,500-cu m LNG dual-fuel capable liquified CO2 (LCO2) carrier from owner Northern Lights, a joint venture between Shell, TotalEnergies and Equinor which plans to transport and sequester CO2 in the North Sea. The ship, which is set to be fitted with an
Engineering conglomerate Larsen & Toubro (L&T) will explore green hydrogen prospects in India under the asset ownership model, a detour from its policy of staying asset-light. For its entry in the green hydrogen segment, L&T has diverted from its usual strategy on two counts. One, it has opted for an asset ownership and operatorship model