Daily News - Wednesday, 14 August 2024
Govt mulls ethanol price hike for 2024-25 season (mint)
The Indian government is considering increasing ethanol prices for the upcoming season starting in November 2024, aiming to incentivize production and achieve its 20% ethanol blending target by 2025-26, ahead of the original 2030 deadline. A committee led by the petroleum ministry is reviewing the price revision, which will be based on the fair and remunerative price of sugarcane, with the last price update occurring in the 2022-23 season. This initiative is part of the government's broader strategy to enhance biofuel production, meet green energy commitments, and support the financial stability of sugar mills.
Taxes can be cut but climate challenges need resources: FM (mint)
Finance Minister Nirmala Sitharaman stated that taxes could be reduced if not for the significant resources needed to address severe challenges like climate change, highlighting that India has independently financed its clean energy initiatives without external aid. Speaking at the ISER convocation in Bhopal, she emphasized that despite promises of financial support from global climate agreements, India has fulfilled its commitments using domestic resources, leading in renewable energy transitions. Sitharaman acknowledged public criticism over tax rates but stressed that the country's leadership in climate action necessitates sustained resource mobilization.
MSMEs to Get ₹15,000-crore Subsidy to Adopt Green Tech (The Economic Times)
The government is finalizing a ₹15,000 crore green initiative for MSMEs, set to launch by early 2025, which includes subsidies for setting up material recovery facilities (MRFs) and adopting green technologies. The scheme aims to enhance MSMEs' competitiveness by reducing their carbon footprint, and it is supported by a new e-marketplace for recyclables to improve price discovery for waste materials. Additionally, the Bureau of Energy Efficiency (BEE) will be involved in measuring emissions and assessing energy savings as part of a data-driven approach to decarbonization.
Coal India removes cap, demand to dictate supply (The Business Standard)
Coal India Ltd (CIL) has lifted all restrictions on coal procurement, allowing power plants with fuel supply agreements (FSA) to acquire as much coal as needed, a shift from the previous system that capped supplies based on the annual contracted quantity (ACQ). This move simplifies operations for power plants and aims to maximize CIL's revenue by increasing coal supply, particularly in response to slowing demand, with coal-generated electricity currently meeting 75% of India’s power needs. The decision follows CIL's recent performance, where it supplied 101.6% of projected coal demand in 2023-24, supporting 127 domestic coal-based power plants.
Govt allows power exporters to sell electricity back in India (The Business Standard)
The Ministry of Power has amended regulations allowing power plants that exclusively supply electricity to neighbouring countries to sell their output in India if they face issues abroad, a move particularly beneficial to Adani Power amidst unrest in Bangladesh. This amendment permits such power plants, like Adani Power's 800 MW Godda plant, to connect to the Indian grid if their foreign buyers fail to schedule or pay for the power, ensuring energy security and potentially lowering domestic electricity prices. The change targets exclusive electricity exporters, a category currently unique to Adani Power, enhancing flexibility in India's power supply management.
