Samagi Jana Balawegaya (SJB) MP Ajith P. Perera says it is the responsibility of the President to decide whether a minister facing serious allegations should continue to hold the post of Minister of Energy.

Addressing the media yesterday (15), he stated that when former Minister Keheliya Rambukwella faced allegations regarding medicine purchases, Anura Kumara Dissanayake strongly raised his voice in Parliament demanding his removal from the ministerial post, and now he must act.

He added that when JVP MPs raised their voices in that manner, then President Ranil Wickremesinghe removed Keheliya Rambukwella from the post of Health Minister.

However, he charged that National People’s Power (NPP) General Secretary Nihal Abeysinghe has told the media that although serious charges have been levelled against the Minister of Energy, he has not been removed, and described this as a shameless statement.

Ajith P. Perera further said that if President Anura Kumara Dissanayake does not feel shaken by serious charges being levelled against a member of a group that preached about good governance and state integrity, then it raises a question about transparency. (Newswire)

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The Sri Lanka Integrated National Financing Framework (INFF) Strategy for the Energy Sector, developed through a process led by the Ministry of Energy with support and technical expertise from UNDP in Sri Lanka, and the Just Energy Transition (JET) Study, was launched during an event in Colombo recently.

The INFF, which outlines how Sri Lanka can shift to renewable energy in a fair, inclusive and equitable manner, was launched during the Renewable Hydrogen Stakeholder Consultation Workshop: From Strategy to Actions held recently.

The Ministry of Energy, together with the Sri Lanka Sustainable Energy Authority and the United Nations Development Programme (UNDP) in Sri Lanka, hosted the workshop, bringing together national policymakers, private sector leaders, financiers, academia and international experts to discuss the country’s pathway towards a green hydrogen economy. 

The workshop presented Sri Lanka’s National Renewable Hydrogen Policy, which provides a framework for positioning the country as a future regional hub for hydrogen and its derivatives. With its vast renewable energy resources, Sri Lanka is well placed to leverage hydrogen technologies for decarbonising power generation, industry and transport, while enhancing energy security and attracting international investment.

Senior government leaders underscored Sri Lanka’s commitment to sustainable energy development. Prof K.T.M. Udyanaga Hemapala, Secretary to the Ministry of Energy, emphasised, “This policy framework is more than an energy plan; it is a vision for Sri Lanka’s future. By embracing renewable hydrogen, we are taking a decisive step towards energy independence, industrial competitiveness, and climate resilience.”

Reinforcing this message, Prof. Wijendra J. Bandara, Chairman of the Sri Lanka Sustainable Energy Authority, stated, “Our role is to ensure that the policy translates into practical solutions on the ground. From enabling infrastructure to safety standards and governance mechanisms, we are committed to building a robust ecosystem that allows hydrogen to flourish as part of Sri Lanka’s clean energy mix.”

The event also served as the launch platform for the Integrated National Financing Framework (INFF) Strategy for the Energy Sector, which is the culmination of two years of consultations across government, the private sector, development partners and academia. With technical collaboration from UNDP, the INFF provides actionable recommendations for mobilising and aligning diverse sources of finance, domestic and international, public and private, to advance an inclusive and equitable renewable energy transition in Sri Lanka.

Alongside this, the event also saw the launch of the Just Energy Transition (JET) Study, which provides a holistic assessment of how Sri Lanka can transition from fossil fuel-based systems to renewable energy in a way that is fair and inclusive. Developed through stakeholder consultations, the study outlines strategies to ensure that vulnerable communities, workers in traditional energy sectors, and future generations benefit from the transition. By addressing inclusivity, employment, gender equality, economic resilience, community engagement, and fiscal stability, the JET approach outlines alignment of climate action with broader social and economic priorities, fully integrating the transition with the Sustainable Development Goals.

Highlighting the transformative potential of hydrogen, Ms. Marina Ten, Officer-in-Charge, UNDP in Sri Lanka, noted, “Renewable hydrogen can be a game-changer for Sri Lanka, helping reduce emissions, diversify energy sources, and drive industrial growth. UNDP is proud to work alongside the Government and stakeholders to translate this policy into real-world actions that benefit people and planet.” Speaking on the importance of the financing framework, she added, “The INFF is about connecting ambition with resources. It helps countries like Sri Lanka unlock and align the financing needed to achieve national development priorities and the Sustainable Development Goals. Today’s launch is a milestone in building a just, inclusive and sustainable energy future.” 

Speaking on the Just Energy Transition Study, she added, “The JET study ensures people remain at the centre of this transformation, providing practical pathways for a fair and equitable shift to renewable energy. Taken together, these three initiatives provide Sri Lanka with the tools to drive innovation, attract investment, and deliver a clean energy transition that leaves no one behind.”

With the simultaneous launch of the National Renewable Hydrogen Policy, the Integrated National Financing Framework (INFF) Strategy for the Energy Sector, and the Just Energy Transition (JET) Study, Sri Lanka has laid out a comprehensive roadmap for its clean energy future. By linking technological innovation with sustainable financing and ensuring that the transition is fair and inclusive, the country is positioning itself as a regional leader in renewable energy while advancing national development priorities and global climate commitments. (Newswire)

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A consortium including UAE-based investors plans to take the $2.4 billion Indian clean energy company ReNew Energy Global private.

The group, comprising Abu Dhabi Investment Authority’s subsidiary Platinum Hawk, Masdar, Canada Pension Plan Investment Board and Sumant Sinha, founder and chairman of ReNew, have proposed $7.07 per share.

This is a premium of 11.5 percent to the stock’s last close, according to a filing with the US Securities and Exchange Commission.

The ReNew board has formed a special committee to consider the non-binding proposal.  

The company has a clean energy portfolio of about 16.3 gigawatts (GW) as of November 2024 and is one of India’s major independent power producers.

Renew shares have fallen about 36 percent since listing in February 2021, Reuters reported.

Meanwhile, Indian fintech MobiKwik’s INR5.72 billion ($67.4 million) IPO was 7.3 times oversubscribed in the first hour of the launch, with the non-institutional portion subscribed 9 times, local media reported.

The fintech is backed by the Abu Dhabi Investment Authority and India’s Bajaj Finance.

MobiKwik’s IPO price band of INR265-279 per share indicates a $256 million valuation, 85 percent lower than its target in 2021. (AGBI)

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US Ambassador to Sri Lanka Julie Chung has met with Sri Lanka’s Minister of Environment, Dr. Dhammika Patabendi and Minister of Energy, Kumara Jayakody in separate meetings to discuss efforts toward climate adaptation, energy transition, and sustainability.

In her meeting with Minister Patabendi, Ambassador Chung highlighted shared priorities such as agricultural sustainability and energy transition.

“We discussed shared priorities like climate adaptation, energy transition, and agricultural sustainability, building on @USAIDSriLanka programs that align with Sri Lanka’s goals. As climate impacts continue to disproportionately affect vulnerable communities, collaboration is essential,” the Ambassador said in a post shared on ‘X’.

During discussions with Minister Jayakody, Ambassador Chung reiterated a commitment to affordable, sustainable, and secure energy solutions for Sri Lanka.

She noted USAID’s support for local partners in driving climate resilience across sectors like agriculture, fisheries, and tourism, as well as advancing initiatives in waste management, circular economy practices, and green finance. (Newswire)

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The Ministry of New and Renewable Energy (MNRE) has taken a significant step towards decarbonizing the transport sector with the release of guidelines for pilot projects under the National Green Hydrogen Mission.

The National Green Hydrogen Mission seeks to foster innovation and widespread adoption of green hydrogen technologies within the transportation industry.

Its primary objective is to integrate green hydrogen as a fuel source for various vehicles, including four-wheelers, buses, and trucks.

The initiative underscores the government’s commitment to promoting clean energy solutions and tackling climate change through advancements in the transportation sector.

Carried out in partnership with the Ministry of Road Transport and Highways and other agencies, these programmes place also emphasize infrastructure development, such as building hydrogen refuelling stations and exploring innovative applications of hydrogen.

This includes researching the feasibility of using green hydrogen-derived methanol/ethanol and other synthetic fuels in vehicles.

She announced a significant 102% increase in funding for the National Green Hydrogen Mission which translates to an allocation of ₹600 crore for 2024-25, compared to ₹297 crore in the previous year.

The release of the guidelines for pilot projects under then National Green Hydrogen Mission came in the wake of this allocation.

The Indian government launched the National Green Hydrogen Mission on August 15, 2021.

During his address to the nation on India’s 75th Independence Day, Prime Minister Narendra Modi reiterated the government’s commitment to combating climate change through the introduction of the National Hydrogen Mission.

He emphasized the goal of surpassing the targeted 100 GW renewable energy achievement by 2030 and highlighted the crucial role of green hydrogen in meeting India’s climate objectives.

Hydrogen’s potential as a clean fuel dates back centuries, from Jules Verne’s dreams to powering Apollo missions.

Despite advancements by companies like Honda and Toyota, challenges persist.

Green hydrogen, derived from renewables, is the cleanest but needs scaled-up production.

In India, with a coal-centric grid limiting electric vehicles, hydrogen emerges for long-haul transport.

Slow adoption is due to a lack of hydrogen fuelling stations, safety concerns, and the pivotal challenge of scaling up technology.

India’s Hydrogen Energy Mission strives to overcome these hurdles for a cleaner hydrogen-powered future.

In September 2022, top officials from the EU and India launched a forum to accelerate cooperation on green Hydrogen.

Both parties envisaged green hydrogen as key to energy security, supply chain development, and sustainable development.

The EU was particularly motivated by the recent Ukraine crisis, which ignited their desire for energy independence.

The National Green Hydrogen Mission received an initial investment of Rs 19,744 crore, which was distributed across four key areas. Rs 17,490 crore is allocated for the Strategic Interventions for Green Hydrogen Transition (SIGHT) program, which aims to boost infrastructure and production capacity.

Rs 1,466 crore were set aside for pilot projects to test the feasibility and effectiveness of using green hydrogen in various sectors like transportation and industry.

Rs 400 crore were allocated for research and development to advance green hydrogen technologies and make them more affordable. Rs 388 crore is reserved for other essential aspects of the mission, such as capacity building and awareness campaigns.

Additionally, a substantial sum was dedicated to research and development, aiming to position us as global leaders in this field. Missing out on this opportunity again wasn’t an option, and this initiative appeared to be steering the country in the right direction.

Maharashtra became the first state of the country to introduce a green hydrogen policy.

The policy aims to produce five million tonnes of green hydrogen annually in the country by 2023.

It will provide incentives to projects that procure renewable energy through open access, from in-state or out-of-state power distribution companies, power exchanges, for self-consumption.

Standalone and hybrid power plants will be given 100 per cent concession in power tariff for the next 10 years and 15 years respectively and will also be exempted from cross subsidy and surcharge.

Around the same time, The World Bank announced the investment of $1.5 billion to help India develop low-carbon energy.

This included expanding renewable energy, developing green hydrogen (fuel created from water using renewable electricity), and attracting private investment. Green hydrogen is crucial for decarbonizing hard-to-abate industries like steel and fertilizer.

India’s biggest fuel company, Indian Oil Corporation (IOC), began testing green hydrogen-powered buses in Delhi and surrounding areas in September 2023.

Petroleum Minister Hardeep Singh Puri launched the trial with two Tata Motors-built hydrogen fuel cell buses, aiming to expand to 15 buses by year-end.

These buses offered an attractive alternative to traditional fuels, boasting near-zero emissions and greater efficiency than internal combustion engines.

By leveraging the expertise of Indian Oil Corporation for this initial project, the government made a wise decision.

However, expanding access to green hydrogen will require further expertise development and international partnerships.

These pilot projects are envisioned to nurture a green hydrogen ecosystem within the transportation industry.

The government actively supports this objective by promoting infrastructure development, including refuelling stations and distribution networks, to facilitate the broader adoption of green hydrogen.

Notably, with the anticipated decrease in green hydrogen production costs, green hydrogen-based vehicles are expected to become more practical and widely adopted in the coming years, ultimately advancing environmentally responsible and sustainable practices in transportation.

Adoption of Green Hydrogen also presents an opportunity for energy independence, potentially replacing, or at least reducing, fossil fuel imports worth Rs 1 lakh crore by 2030.

Recognizing this potential, significant investments have been made to bolster renewable energy capacity and create an incentivized ecosystem conducive to Green Hydrogen development.

These combined efforts pave the way for a greener future powered by sustainable and self-sufficient energy sources. (India Blooms)

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Union Minister for petroleum and natural gas, and housing and urban affairs Hardeep Singh Puri has said that India has a cost advantage in production of green energy and electrolysers.

“In the Indian energy story, the thing that stands out is that in the next 20 years, 25% of the increase in global demand is going to come from India,” said Puri at the CII-Bain session on ‘Green Hydrogen Opportunity in India’ at Davos 2024.

“If you look at the costs, the India advantage is that we are able to significantly reduce the cost of production of green solar energy and electrolyzers” he added.

Among other speakers at the session were Sumant Sinha, Founder, Chairman and CEO, ReNew, Jorgen Sandstrom, Head, Transforming Industrial Ecosystems, World Economic Forum, and Shrikant Madhav Vaidya, chairman, Indian Oil Corporation.

In his address, Shrikant Vaidya said, “Our endeavour is to see that the consumption of green hydrogen goes up and spiking CNG with green hydrogen will be one very big area where the consumption can go up. While hydrogen in mobility will take its own time, industries such as the steel industry and the fertiliser industry can benefit from the use of green hydrogen and they need to come forward in a very big way.”

Jorgen said, “We are working on how we can drive energy transition and industrial transformation in a smart, efficient and a sustainable way and the acceleration of the green hydrogen economy.”

Sumant Sinha, Founder, Chairman and CEO, ReNew commended the supportive policies of the government and added that “They create a situation where India can become a globally competitive producer, not just for the domestic market but it can also emerge as an exporter”.

A Bain & Company and WEF study titled ‘Green Hydrogen: Enabling Measures Roadmpa for Adoption in India’ was also launched during the session.

The study underlines that the role of green hydrogen is strategic and critical to achieve net zero and optimize India’s imports. It notes that India can competitively participate in global value chain and become an energy exporter for Green Hydrogen. It also identified that the biggest challenge in large-scale adoption of green hydrogen today is the cost premium vs. current processes.

Green hydrogen, it notes, needs to come down to a benchmark goal of $2/kg for a green energy ecosystem to develop in India. In terms of energy production, that equates to a renewable energy cost of less than or equal to Rs 2/kWh.

Earlier, Minister Hardeep Puri, held productive discussions with Catherine MacGregor, Chief Executive Officer of ENGIE group in Davos.

“Held very productive discussions with Ms Catherine MacGregor, Chief Executive Officer of @ENGIEgroup in Davos. We discussed possible collaboration in areas of Natural Gas, CBG & LNG as they already 492 biomethanation plants globally. Appreciate their unique electron+molecule strategy for decarbonisation. Informed her that, for accelerated adoption of Green Hydrogen in its energy basket, India has launched the National Green Hydrogen Mission with mission outcomes projected by 2030 as the development of green hydrogen production capacity of at least 5 MMTPA with an associated renewable energy capacity addition of about 125 GW, making India a global hub for the production, usage & export of green hydrogen & its derivatives” the Minister said in his post on X.

The minister also met Jeremy Weir, Executive Chairman & CEO and Richard Holtum, Head of Gas, Power & Renewables & Member of the Executive Committee of Tarigura Group which has an extensive presence across the energy value chain. They discussed how Trafigura can play a pivotal role in securing affordable crude and LNG supplies and discussed about global oil tanker movements.

Another crucial meeting for Minister Hardeep Puri was with Luis Henrique Guimaraes – CEO, Cosan, the biggest natural gas distributor in Brazil. The Minister invited his company to be a part of the India’s growth story and transition towards becoming a natural gas based economy. The Minister Informed him about the plethora of opportunities for Cosan to invest in India – the fastest growing economy, the largest energy incremental demand centre in times to come & a preferred investment destination across conventional fuels, renewables & sustainable biofuels.

Hardep Puri also met Vimal Kapur, Global CEO of Honeywell. During the meeting the Minister proposed fostering stronger collaborations between Indian companies and Honeywell to work for the global Sustainable Aviation Fuel opportunity. They also discussed opportunities along the green hydrogen value chain including further R and D, technology transfer, manufacturing & development of electrolysers in India. They also discussed possible collaborations in areas of Biofuels, Carbon Capture Utilization & Storage, & the Global Biofuels Alliance. The Minister invited the CEO to participate in the India Energy Week to be held in Goa in February 2024.

The Minister also met Juergen Mueller, CTO of software company SAP. They discussed how, as India is the fastest growing economy, the largest energy incremental demand centre in times to come & a preferred foreign investment destination, India presents a myriad of opportunities for SAP. (Times of Oman)

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India can achieve energy independence by 2047, when it celebrates 100 years of independence, according to a study by the US Department of Energy’s Lawrence Berkeley National Laboratory.

The study titled “Pathways to Atmanirbhar Bharat” also notes India’s energy infrastructure needs an investment of USD3 trillion in the coming decades.

It determined that achieving energy independence will generate significant economic, environmental, and energy benefits for India which include USD2.5 trillion in consumer savings through 2047, reducing fossil fuel import expenditure by 90 per cent or USD240 billion per year, enhancing India’s industrial competitiveness globally, and enabling its net-zero commitment ahead of schedule.

“India’s energy infrastructure requires a USD3 trillion investment in the coming decades, and our study finds that prioritizing new energy assets that are cost-effective and clean is crucial for long-term financial sustainability,” said Berkeley Lab staff scientist and co-author Amol Phadke in a statement issued by the Department of Energy.

The study shows that India’s energy independence pathway would involve the power sector installing more than 500 GW of non-fossil electricity generation capacity by 2030, a goal already announced by the government, followed by an 80 percent clean grid by 2040 and 90 percent by 2047.

It says that nearly 100 percent of new vehicle sales could be electric by 2035. Heavy industrial production could shift primarily to green hydrogen and electrification, it said.

Most of the lithium needed (estimated 2 million tons by 2040) for manufacturing new electric vehicles and grid-scale battery storage systems could be produced domestically using newly discovered reserves, it said.

In addition, the Indian industry must transition to clean technologies such as EV and green steel manufacturing. India is one of the world’s largest auto and steel exporters, with their largest markets in EU countries committed to carbon neutrality and a potential carbon border adjustment tariff, it said.

Phadke said, “India can leverage the existing policy framework it has laid out to expand the clean energy deployment.” India, the third largest energy consumer in the world, currently imports 90 percent of the oil it needs, 80 percent of the industrial coal, and 40 percent of the natural gas. Price and supply volatility in the global energy markets, as witnessed in recent years, strain India’s foreign exchange reserves, resulting in economy-wide inflation, it said.

“The case for clean energy has never been stronger. India has achieved the world’s lowest renewable energy prices and has found some of the world’s largest lithium reserves,” said Nikit Abhyankar, Berkeley Lab scientist and the lead author of the study. “This can propel India towards cost-effective energy independence in a way that is economically and environmentally advantageous,” he added.

According to the press release, the study also finds that India has a unique advantage to leapfrog to a clean energy future since the bulk of its energy infrastructure is yet to be built.

“We find that India will embark on an ambitious energy transition in the coming decades,” said Priyanka Mohanty, a co-author and researcher at Berkeley Lab. “However, the transition runway provides time to strategically deploy clean technologies at scale and plan for a just transition.” (PTI)

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