Malta Becomes 119th Country to Join International Solar Alliance
Malta took a remarkable step towards sustainable energy by joining the International Solar Alliance (ISA). This move underscores the country's commitment to reducing reliance on non-renewable energy sources and embracing environmentally friendly alternatives.
With this development, Malta became the 119th nation to join the alliance, reinforcing the collective effort to combat climate change through solar energy deployment.
The signing ceremony, held in the presence of Abhishek Singh, Head of Depository and Joint Secretary (Economic Diplomacy) in the national capital, signified the collaborative spirit underlying the ISA. With over 120 signatory nations, the alliance fosters cooperation in developing and implementing solar energy solutions.
The International Solar Alliance originated from a joint effort by India and France on November 30, 2015. It aims to reduce global dependence on fossil fuels by promoting the widespread adoption of solar energy. The alliance prioritises the development of cost-effective solar solutions to facilitate sustainable growth, particularly in Least Developed Countries (LDCs) and Small Island Developing States (SIDS).
Feb 20, 2024
IREDA and PNB Collaborate On Renewable Energy Projects
Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) signed a Memorandum of Understanding (MoU) to advance renewable energy initiatives across the nation. Signed at IREDA's registered office in New Delhi, the agreement paves the way for joint efforts in co-lending and loan syndication for a spectrum of renewable energy projects.
The MoU includes provisions aimed at enhancing support for renewable energy projects. These provisions include:
Joint Lending and Loan Syndication: IREDA and PNB will collaborate in providing financial assistance through joint lending and loan syndication mechanisms.
Management of Trust and Retention Account (TRA): The agreement entails the joint management of TRA for IREDA borrowers, ensuring efficient fund utilization and management.
Competitive Terms of Sanction: The parties will work towards ensuring competitive terms, including pricing, on IREDA borrowings, facilitating smoother project financing.
Investment Opportunities: IREDA and PNB can explore investment avenues in bonds issued by each other.
Feb 18, 2024
Major Iron Ore Deposits Uncovered in Rajasthan's Karauli
Rajasthan's Karauli district emerged as a new focal point for mineral exploration after the Mines Department announced the discovery of substantial iron ore deposits. This find, located near Hindon, spans approximately 1,888 hectares and is poised to significantly impact the state's industrial landscape.
Preliminary assessments suggest that the areas of Khoda, Dadaroli, Todupura, and Liloti harbor over 840 million tonnes of iron ore. Mines Secretary Anandi highlighted this discovery's potential to spur industrial development and generate employment opportunities within the state.
The discovery of iron ore in Karauli is a boon for various sectors, including the steel and cement industries, which are integral to Rajasthan's industrial framework.
Feb 17, 2024
CIAL in Pact with BPCL to Become World's First Airport to Establish Green Hydrogen Plant
In a strategic move to bolster its path breaking green energy initiatives, Cochin International Airport Ltd (CIAL), which is the world's first airport fully powered by solar energy, entered into a Memorandum of Understanding with Bharat Petroleum Corporation Limited (BPCL) to establish the world's first green hydrogen plant in an airport.
This collaborative effort, combining technological prowess and infrastructure, will result in the world's first green hydrogen plant and fueling station located within an airport setting.
Feb 15, 2024
World's First Green Hydrogen Plant in Airport
Cochin International Airport Ltd. (CIAL) in Kerala has entered into an MOU with Bharat Petroleum Corporation Ltd. (BPCL) to set up a green hydrogen plant in its premises to produce 1000 KW of power.
The project is said to be the first Green Hydrogen plant in an airport in the world. As per the agreement, BPCL will oversee the establishment of the integrated Green Hydrogen plant and fueling station at the Kochi airport, while CIAL will contribute land, water and green energy resources.
CIAL said, the project is expected to be completed early next year, and the initial output will be utilised for powering vehicles within the airport.
The MOU was signed at Thiruvananthapuram, in the presence of State Chief Minister Pinarayi Vijayan, who is also the Chairman of CIAL.
The Cochin International Airport is in the forefront of deploying green energy and is the world's first airport to be fully powered by solar energy. It has a cumulative installed capacity of 50 MW producing two lakh units of power per day through big solar power plants and a hydel station.
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