Portland Trust has sold rights to a 255 MW photovoltaic investment project in Romania’s Corbii Mari commune to Nofar Energy. The deal is worth more than €120 million and is expected to start next year with annual production of 362 GWh. Nofar Energy is an Israeli company with a portfolio of operational and renewable energy projects under development in Romania, including the country’s largest photovoltaic plant. Portland Trust is also involved in other major solar power investments in Romania, including the Vişina photovoltaic system and the Otenia 1.5 GW solar power scheme. The deal is expected to support Romania’s national decarbonization strategy.
HyHome is Australia's first hydrogen-powered home, equipped with a hydrogen-powered hot water system, heating, stove and barbecue facilities. The Australian Government's National Hydrogen Strategy has identified hydrogen in the gas grid as a priority area for research, trial and demonstration programmes. HyHome equips the domestic market with 100% hydrogen-compatible appliances. However, challenges in blending hydrogen into the gas grid include allocating the resources required, ensuring compatibility with current gas grid pipes and fittings, and addressing safety concerns. The Australian Hydrogen Center reports that a 100% hydrogen network would reduce network capacity by 13%.
Ready-mix concrete company UltraTech Cement Limited aims to increase its green energy share to 85% by 2030, triple its green energy share to 60% by FY2026, and meet 100 of its green energy needs through renewable energy by 2050. % of electricity demand. The company has a total green energy installation capacity of 691 MW, of which 262 MW comes from waste heat recovery systems and 429 MW from contracted renewable energy. UltraTech is also exploring carbon capture, utilization and storage (CCUS) with startups CarbonOrO, Coomtech and Fortera.
GreenCell Mobility, a pioneer in the electric vehicle (EV) space, has signed a power purchase agreement and made a strategic equity investment in a 1 MW wind-solar hybrid captive power plant in Ratlam, Madhya Pradesh. This measure will reduce CO2 emissions by approximately 38,000 tonnes over the life of the buses and is in line with GreenCell’s long-term ambition to become a net zero company. The company is also exploring the deployment of battery energy storage solutions to ensure end-to-end green operations.
BluPine Energy has secured a green loan of Rs 511 crore for its 120 MW solar project in Gujarat, contributing to India's clean energy goals and underlining its commitment to innovation and environmental responsibility. The total investment in the project is 6.65 billion rupees ($80 million). The solar farm is expected to generate 323,000 MWh of solar energy per year, offset 296,000 tonnes of CO2 emissions and power 270,000 homes. The electricity generated will be supplied to Gujarat Urja Vikas Nigam Ltd (GUVNL) under a power purchase agreement for a period of 25 years.
India is facing a surge in extreme climate events and insufficient global climate action. The Carbon Credit Trading Scheme (CCTS) and the Green Credit Plan (GCP) were launched under the "Environmentally Friendly Lifestyle" initiative to promote sustainable development and reduce carbon emissions. The CCTS aims to create an Indian carbon market that is aligned with India’s emission reduction targets and vision to achieve net-zero emissions by 2070. GCP focuses on restoring natural resources and building resilience, especially in rural India. These initiatives provide businesses with the opportunity to invest in climate and sustainability measures.