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India's Green Hydrogen Plan: Biomass Conversion
India is embarking on a transformative journey from barren lands to abundant green hydrogen production through biomass conversion. This innovative approach underscores India's commitment to harnessing renewable resources for sustainable energy solutions and reducing carbon emissions.
The plan involves utilising biomass, including agricultural and forestry residues, to produce green hydrogen, a clean and versatile fuel with immense potential for decarbonizing various sectors. By tapping into biomass resources, India aims to unlock a new avenue for green hydrogen production while addressi..
India's Q1 Energy Shift: Renewables Overtake Coal
In a significant milestone, renewables accounted for 71.5% of India's energy production in the first quarter, surpassing coal for the first time in decades. This shift reflects the growing prominence of renewable energy sources in India's energy mix and underscores the country's commitment to sustainable development.
During the first quarter, India generated 13,669 megawatts (MW) of energy, with renewables contributing the majority share. This surge in renewable energy production highlights the strides made by India in transitioning towards cleaner and greener sources of power generatio..
India's Office Leasing Demand Set to Exceed 70 Million Sq Ft in 2024
India's office leasing demand is projected to surpass 70 million square feet in 2024, reflecting a significant uptick in commercial real estate activity. The country's commercial office market continues to exhibit resilience and growth despite challenges posed by the global economic landscape.
Several factors are driving the surge in office leasing demand, including the expansion plans of multinational corporations, the emergence of startups, and the increasing adoption of flexible workspace solutions. As businesses strive to adapt to evolving work models and capitalise on emerging oppo..
Indian Government Reduces Windfall Tax on Crude Petroleum
The Indian government has decided to reduce the windfall tax on crude petroleum, lowering it to Rs 5,700 per metric ton effective from May 16. This decision comes amidst efforts to balance revenue generation with the need to mitigate the impact of high global crude oil prices on domestic consumers and industries.
The windfall tax reduction follows a period of sustained increase in global oil prices, which have posed challenges for India's economy and inflationary pressures. By revising the tax rate downwards, authorities aim to provide relief to consumers while ensuring a stable environ..
Cairn Oil & Gas Reserves Surge
Cairn Oil & Gas, a subsidiary of Vedanta Resources, has reported a significant 19% increase in its oil and gas reserves, now totalling an impressive 1.4 billion barrels of oil equivalent. This notable growth underscores Cairn's robust exploration and production capabilities, solidifying its position as a leading player in India's energy sector.
The increase is attributed to successful exploration activities and efficient reservoir management, which have optimised recovery rates. Cairn's CEO, Nick Walker, highlighted that this achievement aligns with the company's strategic goal..
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