Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari has said that priority of the government is to fight pollution and develop Indian technology and innovation towards e-vehicles. Addressing India Global forum 2021on ‘Climate Action;Electric mobility Now’ he said Indian research is working aggressively towards pursuing green hydrogen. Shri Gadkari said we are trying our best to convert all our construction material to greener options.
The government is planning to set up an institution to fund businesses with a focus on electric vehicles as well as facilitate new financial instruments for lending to the public transportation and commercial vehicle segment, Union minister Nitin Gadkari said on Thursday.
Addressing the India Global Forum 2021, Gadkari also said the government is planning to bring incentives for construction equipment vehicles to encourage them to become electric ones.
The government has extended relief to renewable sector amid the second wave of Covid-19 pandemic by allowing an extension of two-and-a-half months for power projects with commissioning dates between April 1 and June 15, 2021.
The Ministry of New and Renewable Energy (MNRE) has notified the changes that will prevent developers from being charged penalty for delaying commissioning of projects beyond the agreed timelines.
The Karnataka Electricity Regulatory Commission (KERC), in a recent order, ruled that Fortum Solar India is entitled to compensation for the additional cost incurred due to the imposition of safeguard duty through incremental tariffs.
The Commission asked the distribution companies (DISCOMs) to pay the supplementary bills for the incremental tariffs at the rate and minimum contracted capacity determined, from the commercial operation date until the date of the order in three equal monthly installments.
GAIL (India) Ltd will invest about Rs 5,000 crore to build a portfolio of at least 1 gigawatts of renewable energy and set up compressed biogas as well as ethanol plants as it steps up efforts to expand the business beyond natural gas.
As part of a push to embrace cleaner forms of energy, GAIL will be laying pipeline infrastructure to connect consumption centers to gas sources and spend as much as Rs 4,000 crore on renewable energy, GAIL Chairman and Managing Director Manoj Jain said.
Amazon’s Climate Pledge Fund has made its first investment in India through energy-tech startup ION Energy and participated as a part of the startup’s Pre-Series A round worth $3.6 million.
Amazon was joined by Silicon Valley-based Climate Capital, early-stage investor YourNest Venture Capital, Riso Capital and Venture Catalysts, among other angel investors.
