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Total demand met hit a record 140 billion kilowatt-hours (kWh) in June, up from 134 billion kWh in June 2022. Chartbook: India's electricity systemGrid controllers have been able to call on much more generation from renewable sources and improved availability of fossil-fuel units. Generation from wind farms increased by 1.5 billion kWh (+16%) while solar output was up by 1.1 billion kWh (+14%) compared with the same month in 2022. Other generation, mostly from coal-fired units, also increased by 3.3 billion kWh (+3%) owing to improved fuel availability. Related columns:- India to extend time-of-use electricity tariffs (June 27, 2023)- India’s electricity supply improves in cooler pre-monsoon (May 26, 2023)- India’s grid strained by burgeoning power demand (March 29, 2023)- India’s low coal stocks threaten electricity supply (January 27, 2023)John Kemp is a Reuters market analyst.

Persons: India's, Sunil Kataria, John Kemp, Susan Fenton Organizations: REUTERS, Grid Controller, Thomson, Reuters Locations: Modhera, Gujarat, India

☆ 'Unrealistic' global offshore wind expansion target would require $27 billion by 2026, says Wood Mackenzie
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Violeta Santos Moura/File Photo Acquire Licensing RightsCompanies Wood Mackenzie Ltd FollowAug 17 (Reuters) - Government targets to increase wind power installations would see annual capacity additions reach 80 gigawatts (GW) per year by 2030, requiring $100 billion in secured investment in the supply chain by 2026, Wood Mackenzie said in a report. The research and consultancy firm forecast annual capacity is more likely to increase by 30 gigawatts (GW) a year by 2030, which would require $27 billion of secured investment by 2026. "The supply chain is struggling to scale up and will be an impediment to achieving decarbonisation targets if change does not happen," said Chris Seiple, vice chair, power and renewables at Wood Mackenzie. Wood Mackenzie noted that the low profit margins on offshore wind production and uncertainty about project timings resulting in very different supply-chain needs are making it hard to drum up investment in the sector. Target setting and plans for power market infrastructure to support offshore wind need to extend beyond 2030 to scale up the offshore wind supply chain, analysts at Wood Mackenzie said.

Persons: Violeta Santos Moura, Wood Mackenzie, gigawatts, Chris Seiple, Seiple, Anushree Mukherjee, Susan Fenton Organizations: REUTERS, Wood, World Energy, Thomson Locations: Viana, Castelo, Portugal, Wood, Bengaluru

The one unanimous conclusion they came to was that Beijing wants a greater state presence in these sectors. Kroeber says the crackdowns are about "defining what the state does, what the private sector does, and creating a more limited sandbox for the private sector to play in." That has left investors now picking the state over the private sector. The CCP's July Politburo meeting reinforced the message, with the top policymaking body pledging to put a floor under the property sector, help indebted local governments heal and boost consumer demand. Huang Yan, general manager of private fund manager Shanghai QiuYang Capital Co, said Beijing will crack down on any sector seen as increasing people's economic burden.

Persons: Aly, Jack, Arthur Kroeber, Kroeber, Zhang Kexing, Xi Jinping, Mao Zedong's, Thomas Masi, Masi, Xi, Nuno Fernandes, Fernandes, Huang Yan, Huang, Kumar Pandit, Pandit, Jason Xue, Ankur Banerjee, Vidya Ranganathan, Sam Holmes Organizations: REUTERS, Rights, Ant Group, CSI Medical Services, Beijing Tongrentang, HK, Poly, Beijing Gelei Asset Management, Communist Party's, Investors, Mao Zedong's Marxist, Boston, K Investment Management, Shanghai QiuYang, Somerset Capital, Thomson Locations: Shanghai, China, Rights SHANGHAI, HONGKONG, Beijing, New York, London, Singapore

☆ We plan to add up to 2.5 GW in renewable energy capacity every year, says Tata Power
▼ + stars: | 2023-08-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe plan to add up to 2.5 GW in renewable energy capacity every year, says Tata PowerPraveer Sinha, CEO of Tata Power, discusses how it's engaging with the Indian government to increase the use of renewable energy.

Persons: Praveer Sinha Organizations: Tata, Tata Power

During Greece's peak power demand this year, also on July 24, solar photovoltaics covered 3.5GW of the total 10.35GW demand, grid operator IPTO said. Even in cooler and less sunny western countries such as Belgium, solar energy has covered more than 100% of the extra energy needed during midday spikes in power demand. Analysts say a second factor has helped to keep Europe's energy systems running this summer: overall, power demand has been relatively low. That has been the case since Europe's energy crisis last year, when Russia cut gas deliveries to Europe. "The only reason why this has been bearable is the low power demand environment that we're currently in," Refinitiv's Gerl said.

Persons: Nicolas Economou, Kristian Ruby, Electrica, Nathalie Gerl, IPTO, Spain's, Refinitiv's Gerl, Simone Tagliapietra, Kate Abnett, Susanna Twidale, Barbara Lewis Organizations: REUTERS, Analysts, Energy, European Commission, SolarPower, Thomson Locations: Rhodes, Greece, Europe, BRUSSELS, LONDON, Spain, Ukraine, Catania, Etna, Sicily, Athens, Belgium, Russia

☆ China's energy security push drives up fossil fuel approvals - research
▼ + stars: | 2023-08-03 | by ( David Stanway | ) www.reuters.com time to read: +4 min

"China's government has put energy security and energy transition at odds with one another," said Greenpeace's Gao Yuhe, who led the research published on Thursday. "Beijing has clearly stated that coal power will still grow at a 'reasonable pace' into 2030," she said. China's National Energy Administration (NEA) did not immediately reply to a fax sent requesting a comment on the coal plants and their power generation policies. The increase in China's coal usage reflects a worldwide pattern. The International Energy Agency said last week that global coal consumption reached a record 8.3 billion tons in 2022, with strong growth in Asia offsetting declines elsewhere.

Persons: David Gray, Gao Yuhe, Xi Jinping, Gao, Jorrit Gosens, David Stanway, Christian Schmollinger Organizations: Mongolia Autonomous, REUTERS, Companies Greenpeace, Greenpeace, National Energy Administration, International Energy Agency, National Development, Reform Commission, European, Global Energy Monitor, Australian National University, NEA, Thomson Locations: Baotou, China's, Mongolia, Mongolia Autonomous Region, SINGAPORE, China, Beijing, Asia, European Union

☆ Capital Energy to sell $1 billion renewable energy portfolio, sources say
▼ + stars: | 2023-07-30 | by ( Andres Gonzalez | ) www.reuters.com time to read: +1 min

LONDON, July 30 (Reuters) - Spanish-based renewable energy investor Capital Energy has hired Lazard to sell a portfolio of 4.3 gigawatts (GW) of onshore wind and solar power plants in Spain, according to the sale of documents seen by Reuters. Capital Energy and Lazard declined to comment. One gigawatt of power is roughly equivalent to the average production from one nuclear plant, although renewable power is intermittent. According to the materials distributed by Lazard, the sale includes a team of 45 employees of Capital Energy. Currently, Capital Energy employs 355 people and holds a renewable portfolio of 25 GW, out of which 10 GW are in advanced development with granted access to the Spanish power network.

Persons: Lazard, Andres Gonzalez, David Evans Organizations: Capital Energy, Reuters, Lazard, Thomson Locations: Spain, Spanish

☆ First Solar announces fifth U.S. factory as Inflation Reduction Act fuels domestic manufacturing
▼ + stars: | 2023-07-27 | by ( Pippa Stevens | ) www.cnbc.com time to read: +1 min

First Solar, the nation's largest solar panel manufacturer, announced Thursday that it will build its fifth U.S. factory as the Inflation Reduction Act spurs a domestic manufacturing boom. The company said it will invest as much as $1.1 billion in the new factory, the location of which has yet to be decided. Still, First Solar has been unable to meet surging demand, and in April, the company said it was sold out through 2026. The Inflation Reduction Act has already spurred a flurry of clean energy factory announcements and more than $150 billion in capital investments since it passed nearly one year ago, according to estimates from American Clean Power. President Biden said Thursday that First Solar's announcement, alongside other green energy pushes, shows that "the era of America ceding leadership to our adversaries in clean energy is over."

Persons: Biden Organizations: Clean Power Locations: U.S, Alabama, Ohio

The German cabinet approved a new hydrogen strategy, setting guidelines for hydrogen production, transport infrastructure and market plans. Produced using solar and wind power, green hydrogen is a pillar of Berlin's plan to transition away from fossil fuels. "A domestic supply that fully covers demand does not make economic sense or serve the transformation processes resulting from the energy transition as a whole," the document said. But Germany's limited renewable energy space will make it heavily dependent on imported hydrogen, experts say. We simply need space for wind and photovoltaic to be able to produce the hydrogen," Philipp Heilmaier, an energy transition researcher at Germany energy agency, told Reuters.

Persons: Simone Peter, Bettina Stark, Watzinger, Philipp Heilmaier, Volker Wissing, Riham Alkousaa, Christian Kraemer, Rachel More, Kirsten Donovan, David Evans Organizations: Reuters, United Arab Emirates, Thomson Locations: BERLIN, Germany, Canada, Norway, United Arab, Australia

☆ UK is in danger of becoming the Nigeria of wind
▼ + stars: | 2023-07-20 | by ( George Hay | ) www.reuters.com time to read: +3 min

LONDON, July 20 (Reuters Breakingviews) - Britain is supposed to be the Saudi Arabia of wind power. Vattenfall’s decision on Thursday to halt the 1.4 gigawatt (GW) Norfolk Boreas project is just the latest sign that Britain’s most appropriate fossil-fuel comparator may not be the biggest and most efficient producer. Vattenfall, a state-held Swedish power company, has gone cool for reasons that are well-discussed in the wind sector. The obvious move for UK Prime Minister Rishi Sunak would be to allow developers to charge more for power, to make up for higher costs. Follow @gfhay on TwitterCONTEXT NEWSVattenfall is stopping the development of its 1.4 gigawatt (GW) Norfolk Boreas offshore wind project off the coast of Britain, the state-owned Swedish utility said on July 20.

Persons: Boris Johnson’s, Vattenfall, Rishi Sunak, Liam Proud, Oliver Taslic Organizations: Reuters, Siemens, UK, FTI, Norfolk, Thomson Locations: Britain, Saudi Arabia, United Kingdom, Riyadh, Norfolk Boreas, Swedish, Norfolk, Orsted, Nigeria

☆ Vattenfall says it is stopping British Norfolk Boreas offshore wind farm
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 20 (Reuters) - Swedish utility Vattenfall (VATN.UL) is stopping the development of the 1.4 gigawatt (GW) Norfolk Boreas offshore wind project off the coast of Britain, designed to power around 1.5 million homes, it said in an earnings statement on Thursday. The company said the decision would have an impact on earnings of 5.5 billion Swedish crowns ($537 million). Vattenfall also said it would examine the best way forward for the entire Norfolk zone which also includes the Vanguard East and West projects. Britain has a target of increasing offshore wind capacity to 50 GW, from around 14 GW now, as a part of efforts to meet its climate targets and boost energy security. ($1 = 10.2438 Swedish crowns)Reporting by Susanna Twidale, editing by Gwladys FoucheOur Standards: The Thomson Reuters Trust Principles.

Persons: Vattenfall, Susanna Twidale, Gwladys Organizations: Norfolk, Vanguard East, Thomson Locations: Norfolk Boreas, Britain, Norfolk

☆ Abu Dhabi's Masdar eyeing acquisition targets in US, Europe expansion
▼ + stars: | 2023-07-19 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

DUBAI, July 19 (Reuters) - Abu Dhabi state-owned renewable energy firm Masdar is in discussions with potential acquisition targets in the U.S. and is also looking to expand in Europe, Gulf Arab countries and elsewhere, its chief financial officer said on Wednesday. Masdar is in active discussions and U.S. President Joe Biden's $430 billion Inflation Reduction Act "reinforced" its view of the U.S. market, he said. "So we are already securing new capacities, so my expectation is that we are likely to come to market again in 2024," he said, adding Masdar would only issue bonds for already-secured projects. In November, the UAE and U.S. agreed to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035. Jaber last week said countries at COP28 must face how far behind they are lagging climate targets and agree a plan to get on track.

Persons: Niall Hannigan, Joe Biden's, Masdar, Hannigan, Sultan al, Jaber, Yousef Saba, David Evans Organizations: Abu, Abu Dhabi National Oil Company, Thomson Locations: DUBAI, Abu Dhabi, U.S, Europe, Gulf Arab, North America, Balkans, Poland, Serbia, Montenegro, Greece, Gulf, Saudi Arabia, Asia, Pacific, Africa, Azerbaijan, Uzbekistan, UAE

BASRA, Iraq, July 19 (Reuters) - Iraq secured its $27 billion oil deal with France's TotalEnergies (TTEF.PA) last week by offering quicker, less risky payback through greater revenue-sharing, a model it could replicate in the future to lure investors. The new deal is designed to allow Total to take a portion of revenues from the Ratawi oil field in Iraq's oil-rich Basra region and use them to help finance three other projects, two senior Iraqi oil officials said. In the end, Total took a 45% share while the state-owned Basra Oil Company took 30% and QatarEnergy 25%. Revenues will be split according to those stakes, one of Iraq's senior oil officials said. Iraq's oil officials said the model could be replicated in the future but that would be considered on a project-by-project basis.

Persons: France's, Aref Mohammed, Silvia Aloisi, Timour Azhari, Elaine Hardcastle Organizations: Exxon Mobil, Shell, BP, Total, Reuters, Basra Oil Company, Thomson Locations: BASRA, Iraq, U.S, Basra, Ratawi, Saudi, Iraqi, Timour Azhari, Baghdad, Paris

Vietnam targets LNG-sourced gas generating up to 22.4 gigawatts (GW) of power by 2030, enough to power 20 million households and account for nearly 15% of national power supply. Complicating LNG efforts, much of Vietnam's planned gas power investment is directed to the south of the country despite the under-served north's greater vulnerability to blackouts. Reuters GraphicsThe first plant due to come online, the Nhon Trach 3 facility being built by state-run PetroVietnam Power (PV Power) (POW.HM) near Ho Chi Minh City, is scheduled to begin operation in late 2024. Takafumi Akino of Tokyo Gas, which is building an LNG terminal and a gas plant in northern Quang Ninh province, predicted "hard negotiations". PV Gas said this month it was in talks with U.S. energy giant ExxonMobil and Russia's Novatek on LNG cooperation.

Persons: Thi, Kaushal Ramesh, EVN, Japan's Marubeni, Takafumi, Rystad's Ramesh, Francesco Guarascio, Khanh, Emily Chow, Florence Tan, Phuong Nguyen, Tony Munroe, William Mallard Organizations: European Chamber of Commerce, Reuters, Energy, Tokyo Gas, Industry, Plant, Foreign, Delta Offshore Energy, Gulf International Holdings, Delta Offshore, Gulf Energy Development, Buyers, PV Gas, ExxonMobil, Russia's, Gas, Thomson Locations: Vietnam, Hanoi, HANOI, China, Thailand, Singapore, Philippines, Ho Chi Minh City, Oslo, U.S, Tokyo, Quang Ninh, South, Southeast Asia, Asia, Khanh Vu

☆ Toshiba, General Electric to build offshore wind equipment supply chain in Japan-Nikkei
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 15 (Reuters) - Japan's Toshiba (6502.T) plans to establish a domestic supply chain for offshore wind power equipment together with U.S. manufacturer General Electric (GE.N), Nikkei reported on Saturday, as Japan is expanding in renewable energy in a zero-carbon push. Japan's offshore wind power market is set to grow as the government aims to install up to 10 gigawatts (GW) of offshore wind capacity by 2030, and up to 45 GW by 2040, as part of its decarbonisation push. Last month, the government finished accepting bids for the second round of offshore wind power tenders to build 1.8 GW of capacity in four areas, with results yet to be announced. According to Nikkei, the equipment supply chain would involve around 100 small and medium-sized companies with focus on the areas where offshore wind capacity should be installed. In 2021, Toshiba and GE announced a strategic partnership to localise GE's Haliade-X offshore wind turbines manufacturing in Japan, as the U.S. company wants its technology to be as competitive as possible in Japan's offshore wind auctions.

Persons: localise GE's, Katya Golubkova, Michael Perry Organizations: Toshiba, Nikkei, Mitsubishi, GE, U.S ., Japan Wind Power Association, Thomson Locations: TOKYO, Japan, U.S

☆ BP’s German wind option risks multiple blowbacks
▼ + stars: | 2023-07-13 | by ( George Hay | ) www.reuters.com time to read: +5 min

But Germany also aims to raise as much cash as possible from selling wind power development rights. But wind projects around the world have been hit by turbine makers like Siemens Gamesa and Vestas (VWS.CO)hiking prices in 2022 by 30%. Shaking down the private sector is fine, but not if you’re left with no wind projects. Reuters Graphics Reuters GraphicsFollow @gfhay on TwitterCONTEXT NEWSOil majors BP and TotalEnergies have won a 7 gigawatt (GW) offshore wind site auction in Germany worth 12.6 billion euros ($13.96 billion). BP’s initial payments totaling 678 million euros, equivalent to 10% of the bid amount, will be paid by July 2024.

Persons: Bernard Looney, TotalEnergies, Looney, TotalEnergies ’, Patrick Pouyanné, Bernstein, you’re, BP, Aimee Donnellan, Pranav Kiran, Streisand Neto Organizations: Reuters, BP, Bernstein Research, Siemens, Reuters Graphics Reuters, TotalEnergies, Federal, Thomson Locations: Germany, Berlin, U.S, Heligoland, Baltic, Ruegen, Europe, TotalEnergies

FRANKFURT/LONDON July 13 (Reuters) - Energy majors BP (BP.L) and TotalEnergies (TTEF.PA) have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership. The awards for capacity due to come online in 2030 also excluded leading offshore wind developers, such as RWE (RWEG.DE) and Orsted (ORSTED.CO). AUCTION DESIGNThe 7 GW electronic auction officially opened in January and bidders had until June 1 to submit offers. In previous German lease auctions, companies have made low or negative bids with the expectation of subsidies from the state. Industry groups have said the high costs of the leases could drive up the cost of offshore wind projects.

Persons: Bundesnetzagentur, Bernstein, WindEurope, Orsted, Norway's, TotalEnergies, Vera Eckert, Susanna Twidale, Christoph Steitz, Ron Bousso, Nora Buli, Nina Chestney, Barbara Lewis Organizations: Energy, BP, Industry, Thomson Locations: FRANKFURT, Germany, Macquarie, England, Danish

Companies Bp Plc FollowTotalEnergies SE FollowFRANKFURT/LONDON, July 12 (Reuters) - Oil majors BP (BP.L) and TotalEnergies (TTEF.PA) emerged as the winners in a 7 gigawatt (GW) offshore wind site auction in Germany worth 12.6 billion euros ($13.96 billion), highlighting the appeal of renewable assets across Europe. "The results confirm the attractiveness of investments in offshore wind power in Germany," said Klaus Mueller, president of Germany's energy regulator Bundesnetzagentur. Analysts at Jefferies noted the high price for the auction, adding that it implied "high interest in European offshore wind sites from energy companies/developers". BP won the rights to develop two projects, marking its entry into offshore wind in continental Europe and representing 4 GW out of the total, it said in a separate statement. "This is a significant milestone for BP, showing our commitment to transitioning into an integrated energy company," BP head of offshore wind Matthias Bausenwein said.

Persons: Klaus Mueller, Matthias Bausenwein, Patrick Pouyanne, TotalEnergies, Vera Eckert, Christoph Steitz, Ron Bousso, Friederike Heine, Sharon Singleton, Chris Reese Organizations: Bp, Oil, BP, Jefferies, Federal, Thomson Locations: FRANKFURT, LONDON, Germany, Europe, Heligoland, Baltic, Ruegen, TotalEnergies, Frankfurt, London

☆ Germany more flexible on hydrogen transition, emphasises speed - draft
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, July 12 (Reuters) - Germany is set to hold on to its hydrogen economy goals up to 2030 and beyond while pressing for speed and allowing greater leeway in transitioning from fossil fuels-based variants to renewables, a draft paper showed on Wednesday. The draft was seen by Reuters while being presented to the national hydrogen council prior to assessment and adoption by the Berlin cabinet. It will become a 2023 strategy update guiding stakeholders in production, transport and wholesale markets as well as infrastructure investors. The coalition government in 2021 installed a target of 10 gigawatts (GW) of green hydrogen production by 2030, which can receive direct financial support, doubling previous ambitions. There would be greater tolerance of fossil- and nuclear-derived hydrogen, partly with carbon sequestration until such time as renewables could fully meet hydrogen demand, Germany's draft paper said.

Persons: Vera Eckert, Christian Kraemer, Markus Wacket, Devika Organizations: Europe's, Reuters, EEX, Thomson Locations: FRANKFURT, Germany

☆ Iraq, TotalEnergies sign massive oil, gas, renewables deal
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +3 min

BAGHDAD, July 10 (Reuters) - Iraq and French oil major TotalEnergies (TTEF.PA) on Monday signed a long-delayed $27 billion energy deal that aims to increase oil production and boost the country's capacity to produce energy with four oil, gas and renewables projects. TotalEnergies Chairman and CEO Patrick Pouyanne signed the agreement with Iraqi oil minister Hayan Abdel-Ghani at a ceremony in Baghdad, with Pouyanne calling it a "historic day". "I hope that this will be a strong signal to other investors to come to Iraq," Pouyanne said. Exxon Mobil, Shell and BP have all scaled back their operations in Iraq in recent years, contributing to a stagnation in oil production. Iraq's oil production capacity has remained at around 5 million barrels per day in recent years.

Persons: TotalEnergies, QatarEnergy, Patrick Pouyanne, Hayan Abdel, Ghani, we'll, Abdel, Pouyanne, Maher Nazeh, Nadine Awadalla, Timour, Louise Heavens, Jason Neely, Christina Fincher Organizations: Monday, Exxon Mobil, Shell, BP, Thomson Locations: BAGHDAD, Iraq, Baghdad, Basra, Saudi, U.S, Saudi Arabia, Dubai

Americans are heading into the Fourth of July holiday with an economy that has been nothing short of resilient. Given this backdrop, CNBC Pro set out to find the stocks that can capitalize the most from a strong U.S. economy. Solar energy stock Sunrun also made the list. "The company is experiencing strong momentum across all its sales channels," he said in a note last month. Other stocks that made the cut include Frontier Communications , Marriott Vacations , Marathon Oil , Scotts Miracle-Gro and energy company PPL .

Persons: James West Organizations: Commerce Department, Delta Air Lines, AAA, Federal Reserve, Wall Street, CNBC Pro, U.S, Caesars Entertainment, Analysts, Financial, Frontier Communications, Marriott, Oil, Miracle, Gro, PPL Locations: U.S, Puerto Rico

STEEP GROWTH, EVERYWHEREAsia dominates the global wind power market, accounting for just over 47% of the worldwide capacity growth in 2022, according to Ember. Annual wind power generation capacity growth by regionOutside of Asia, Europe was the fastest growing region in terms of wind capacity in 2022, where installed capacity expanded by close to 20 GW, or by 8.4%. North America was the next largest wind capacity developer, with 8.84 GW, followed by Latin America, which expanded capacity by 4.36 GW. WIND GROWTH MORE BALANCED THAN SOLARWith just over half of all wind capacity growth occurring outside of Asia in 2022, global wind turbine producers and installation firms have had a larger share of international opportunities than their counterparts in the solar business. In combination with continued strong demand for wind power supply capacity and substantially cheaper supply chain flows, the expected improvements in each firms' wind segment performance should also yield improvements in future financial metrics.

Persons: gigawatts, Vestas, Gavin Maguire, Kim Coghill Organizations: Germany's Siemens Energy, Electric Co, Science & Technology, Siemens, GE, Reuters, Thomson Locations: LITTLETON , Colorado, United States, Danish, Xinjiang, Asia, Ember, China, Europe, North America, America, Africa, Oceania, Freightos

LONDON, June 27 (Reuters) - India's power consumption is becoming increasingly "peaky" as a result of rapidly growing air-conditioning loads and the deployment of increasing amounts of solar power. In response, the government has announced increased use of time-of-day tariffs to encourage consumption during solar hours and penalise usage after sunset. On June 23, the Ministry of Power outlined plans for a three-rate tariff, with prices varying between normal hours, solar hours and peak hours ("India to cut daytime power tariffs, raise fees for night use", Reuters, June 23). Prices during solar hours will be reduced by 10-20% compared with normal while peak hours will be 10-20% more expensive - a total swing from least-expensive to most-expensive of 20-40%. Chartbook: India electricity systemIn May 2023, India's total electricity consumption was marginally lower than in the same month a year earlier as a result of cooler temperatures.

Persons: John Kemp, David Evans Organizations: Ministry of Power, Reuters, Thomson Locations: India

The Global Wind Energy Council said earlier this year that a record 680 gigawatts (GW) of wind energy capacity is expected to be installed by 2027. But the expected revenues of those planning to build wind turbines have not risen in tandem. Many governments index the prices paid for wind energy, usually through auctions, which are often too low, analysts at Wood Mackenzie said. COMPONENTSAmong the issues which arise from operating wind turbines, wear and tear on turbine blades over time can lead to erosion. Its shares fell more than 6% on Friday, while shares in Siemens Energy, the second biggest wind turbine maker, sank 37%.

Persons: Wood Mackenzie, WindEurope, Nina Chestney, Christoph Steitz, Barbara Lewis Organizations: Siemens Energy, LONDON, Siemens, World Energy, Wind Energy Council, International Energy Agency, Thomson Locations: China, Ukraine, Frankfurt

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