German industrial group Siemens reported a fall in its annual profit by about a third. The company, which makes products from trains to factory equipment, said it would post a net profit of about 4.4 billion euros ($4.6 billion) in the 2021-22 fiscal year. Siemens Energy was spun off from Siemens in 2020, and Siemens still owns 35 percent.
Siemens Energy said it would not pay a dividend for its annual results, blaming a widening net loss and its troubled wind turbine unit Siemens Gamesa. The company posted a net loss of 647 million euros ($669 million) for the year ended Sept. 30. The company also took a charge of 200 million euros due to the restructuring of its partially sold Russian unit.
Varanasi Bus Station is the first solar powered smart bus station with multiple facilities. Urban Development Minister AK Sharma said the prime minister had come up with the concept and Chief Minister Yogi Adityanath made sure it was followed. It was built by Hindustan Unilever Limited (HUL) under the Varanasi Smart City initiative under Corporate Social Responsibility (CSR).
SHV Energy's Indian subsidiary SunSource Energy said on Monday that it will increase its solar deployment target from 550 megawatts (MW) to 1 gigawatt by 2027. The increased capacity will help support India's growing customer base. To support the scale-up of deliveries, the Indian leadership team will also be expanded.
The portal will allow electricity consumers with approved loads of 100 kW or more to access renewable energy supplies. Open access is available to any consumer whose load limit has been reduced from 1,000 kW to 100 kW. The portal can be accessed at https://greenopenaccess.in/ to process applications related to green energy open access. The Ministry of Electricity has published the Electricity (Promotion of Renewable Energy through Open Access to Green Energy) Regulations 2022 on 6 June 2022. The rules are designed to promote the production, purchase and consumption of green energy, including energy from waste-to-energy plants. Green energy open access approval will be granted within 15 days, otherwise it will be deemed approved, subject to technical requirements being met through the portal.
India is planning a massive expansion of green hydrogen production to curb its reliance on energy imports and free the economy from fossil fuels. Green hydrogen is made by splitting water using electricity from renewable energy sources. New Delhi aims to have an annual capacity of 25 million tonnes by 2047, the people said. India's goal of net-zero emissions by 2070 is backed by business tycoons and state-run energy giants. Green hydrogen is made by splitting hydrogen and oxygen in water with the help of electrolyzers, which are powered by renewable electricity. It has the potential to be an alternative to coal for steel mills and to transport petroleum products over long distances.
The Global Offshore Wind Alliance (GOWA) was established by the International Renewable Energy Agency (IRENA), Denmark and the Global Wind Energy Council. GOWA aims to reach a total installed capacity of 380GW by the end of the century. Germany is the third largest producer of offshore wind power in the world, according to Jennifer Lee Morgan, Germany's climate envoy.
British Prime Minister Rishi Sunak has declared that it is time for faster action on climate change. In his speech at the COP27 summit, he pledged £11.6bn as the country's commitment to the climate fund. The Indian-origin leader noted that green energy investments are "an excellent source of new jobs and growth". He pledged to build on the "space of hope" created during the UK's presidency of Scotland's COP26 last November. British Prime Minister Manmohan Singh announced at the COP21 summit in Egypt that Britain would triple its funding for adaptation to £1.5 billion by 2025.
Sunak called on countries to honour the commitments made in Glasgow to direct public and private funding to protect the planet. "There is definitely room for hope," he noted.
Evonik receives approximately 100 megawatts (MW) of electricity annually from the EnBW offshore wind farm. The German chemicals maker said it would start getting its share of electricity from the 900-megawatt He Dreiht wind farm in the North Sea from 2026. Its larger peer BASF agreed last year to pay about 300 million euros for a 49.5 percent stake in one of them. North Sea wind farm in Vattenfall.
Evonik receives approximately 100 megawatts (MW) of electricity annually from the EnBW offshore wind farm. The German chemicals maker said it will receive its share of electricity from the 900-megawatt He Dreiht wind farm in the North Sea from 2026. Its larger peer BASF agreed last year to pay around 300 million euros for a 49.5 percent stake in Vattenfall. North Sea wind farm.