NGEL, HPCL PARTNER TO DEVELOP GREEN ENERGY PROJECTS

NTPC Green Energy Ltd (NGEL) has signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) for the development of renewable energybased power projects.

Under the agreement, NTPC said its renewable energy arm — NGEL — will also supply 400 MW round-the-clock to HPCL.

“NGEL and HPCL signed a non-binding Memorandum of Understanding (MoU) on for development of renewable energy based power projects to tap business opportunities in RE (sector) and supply of 400 MW round the clock renewable power for requirements of HPCL,” NTPC said in a statement.

Pune Municipal Corporation Collaborates With Thegreenbillions For Developing Green Hydrogen From Waste

TGBL’s wholly owned subsidiary Variate Pune Waste to Energy Pvt. Ltd. (VPWTEPL) will be managing and utilizing the municipal waste of 350 TPD of Pune for generating hydrogen for a period of 30 years. The project aims to extract clean hydrogen from municipal solid waste in a pioneering initiative. The company is discussing with other state municipalities across India to implement and set up similar plants in the future. Broadcast Engineering Consultants India Limited (BECIL), a Central Public Sector Enterprise of Government of India will provide the Project management consulting and Variate Pune Waste to Energy Private Limited, a wholly owned subsidiary of TheGreenBillions Limited, will implement the project to convert Pune’s municipal non-recyclable waste into hydrogen. The Refuse Derived Fuel (RDF) from the waste would later be utilised to generate hydrogen using Plasma gasification technology. The technology has been developed while closely working with the Bhabha Atomic Research Institute (BARC) and the Indian Institute of Science, Bengaluru.

Mahatma Phule Renewable Energy & Infrastructure Technology (MAHAPREIT), a Maharashtra government undertaking, has proposed to offtake the hydrogen generated at the facility and develop logistical infrastructure for hydrogen transportation to industries for this. For the first phase of the project, MAHAPREIT proposes blending in the city gas distribution network in Pune by partnering with Maharashtra Natural Gas Ltd. (a joint venture of GAIL (India) Ltd. and Bharat Petroleum Corporation Ltd. (BPCL). The joint efforts by MAHAPREIT and GAIL can help the proposed hydrogen blending project set a benchmark for a circular economy with hydrogen generated from the city’s waste and blended back into its gas distribution network.

According to Prateek Kanakia, PhD, Chairman and Founder, The GreenBillions Limited, “The growing Indian economy is witnessing an increase in demand for energy from all sectors. The situation has put a lot of pressure on Indian energy reserves to meet the ever-increasing demand. It has increased the focus on identifying and developing alternative energy sources, mainly green and clean sources that do not harm the environment. With the rising demand from the Ministry of New and Renewable Energy (MNRE) to generate Clean Hydrogen, it is essential to find alternatives to foster clean hydrogen in the country. We recognise that an efficient garbage collection and disposal system is crucial for quality urban solid waste management. Especially in India, unsustainable garbage management affects living spaces for many cities. Our association with the Pune Municipal Corporation is a step forward in mitigating these demands.” Source: ANI

Official statement from Broadcast Engineering Consultants India Limited (BECIL), “With this project, Pune city can reduce upto 2.5 million MT CO2e, more than 3.8 million MT waste would be diverted from the landfill and around >1,80,000 estimated households will be served directly. The Municipal solid waste (MSW) otherwise being dumped in low lying urban areas will be diverted, saving upto 689.5 cubic meter space every day and 25.16 hectare of precious land per year.” This waste will comprise biodegradable, non-biodegradable and domestic hazardous waste and would be segregated at the TheGreenBillions’s facility in Pune using optical sensor technology. The wet waste from the facility will be used to generate humic-acid rich bio-fertilisers, which are considered better than conventional bio-fertilisers and has low carbon emissions. This project aims to demonstrate the technological and financial feasibility of waste to hydrogen generation. With a strong focus of the Government of India on hydrogen adoption, the projects like these will not only help India achieve decarbonization goals but will also reduce significant emissions from waste disposal. Once achieved, the goals will help India achieve the vision of Swachh Bharat and also match the hydrogen ambitions.

CYRIL AMARCHAND MANGALDAS ADVISES BANK OF BARODA LED CONSORTIUM ON INR 3,940 CRORE CREDIT FACILITY EXTENDED TO JSW RENEWABLE ENERGY VIJAYANAGAR

For setting up a 825 MW AC hybrid power project (i,.e. 225 MW AC Solar Project and 600 MW Wind Project) at Ballari and Koppal districts in the State of Karnataka (Project) for meeting the captive power requirement of JSW Steel Limited (JSW Steel).

This credit facility is secured by inter alia creating a first ranking pari passu charge/ mortgage on all movable, intangible assets and immovable assets(excluding forest land) in relation to the Project, pledge over certain percentage of equity shares and the other securities issued by JSW Renewable to JSW Future Energy Limited (promoter of JSW Renewable). The Project & Project Finance Practice of Cyril Amarchand Mangaldas advised and assisted the consortium of lenders led by Bank of Baroda on structuring, drafting, and finalising the financing documents. The Firm also advised on the sell down of a part of the Loan by Bank of Baroda to Central Bank of India and Bank of Maharashtra. The Project Financing team was led by Ramanuj Kumar, Partner; with support from Aiswarja Mohanty, Principal Associate; Shrey Srivastava, Senior Associate; Shradha Sharma, Associate. Tanvi Ramdas, Associate; and Umang p, Associate; provided assistance related to execution of transaction.

The deal team for JSW Renewable comprised of Mr. Rakesh Punamiya and Mr. Vaibhav Deshmukh. The transaction was signed on 10th August 2022; and closed on 16th August, 2022.

Goldman Sachs Raises

$1.6 BLN PRIVATE CAPITAL FOR CLIMATE FUND

The final close of GSAM’s Horizon Environment & Climate Solutions I comes as investors increasingly turn their attention to companies that can help in the world’s fight against global warming

Goldman Sachs Asset Management, the fund arm of Goldman Sachs, said it had raised $1.6 billion for its first private equity fund focused on investing in companies providing climate and environmental solutions. The final close of GSAM’s Horizon Environment & Climate Solutions I comes as investors increasingly turn their attention to companies that can help in the world’s fight against global warming. The fund, launched in 2021, provides so-called “growth capital” to companies further along in developing solutions in clean energy, sustainable transport, waste and materials, sustainable food and agriculture and ecosystem services.

Lots of organisations are trying to operate more sustainably and looking for solutions that enable them to do that, Ken Pontarelli, head of sustainable investing for private markets within Goldman Sachs Asset Management, told Reuters. “The centre of the bullseye that we look for … is if we can invest in companies that have products and services that enable other organisations to cost-effectively meet their sustainabilty objectives, that’s a winner.”

GSAM’s Horizon fund has made 12 investments so far of between $80 million-$90 million including in Northvolt, a Swedish battery developer and Recover, a company that recycles textile waste to create sustainable fibres. Each investment targets and is measured on specific sustainabilty outcomes such as acres of wetlands restored or tons of CO2 sequestered, Pontarelli said. While investors have long invested in real assets such as wind and solar, or in early stage venture capital, the demand for the fund showed they were increasingly willing to back bigger companies, Pontarelli said.

“In 2019 you saw greater willingness of institutional allocators to think about climate as a big theme beyond just the hard assets,” he said. “In every quarter we’ve seen more client interest in and around this theme.”

In December private equity firm General Atlantic launched a $3.5 billion climate fund while a month earlier Morgan Stanley Investment Management launched a $1 billion private equity strategy to invest in companies that will help reduce 1 gigatonne of carbon dioxide emissions.

Source: Reuters