Energy Sector Current Affairs - 2019

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Ocean Energy gets renewable energy Status

Union Ministry of New and Renewable Energy (MNRE) has approved proposal to declare ocean energy as Renewable Energy. It has clarified to all stakeholders that energy produced using various forms of ocean energy such as tidal, wave and ocean thermal energy conversion (OTEC) will be considered as Renewable Energy. The decision will give boost to ocean energy in the country. It will make ocean energy eligible for meeting the non-solar Renewable Purchase Obligations (RPO).

Background

Ocean energy is currently under-utilized and as on date, India does not have any installed ocean energy capacity. It is mostly exploited through a few technologies including wave, tidal, current energy and ocean thermal energy.

The total identified potential of tidal energy is about 12,455 mega watt (NW), with potential locations identified at Khambat and Kutch regions of Gujarat and large backwaters where barrage technology could be used.

Preliminary estimates also have pegged total potential of wave energy in India along the country’s coast to be about 40,000 MW. OTEC has theoretical potential of 180,000 MW, but it is subject to suitable technological evolution. Gulf of Kutch and Gulf of Cambay in Gujarat on west coast of the country also show potential for tidal energy production.

Integrate to Innovate Programme launched for startups in energy sector

Invest India under Department of Industrial Policy and Promotion (DIPP) in partnership with energy companies has launched Integrate to Innovate Programme for startups in energy sector. It is three-month programme for startups in the power sector aims to foster collaboration between startups and large corporations of the energy sector.

Integrate to Innovate (i2i) Programme

i2i programme will provide opportunity for startups for collaboration and conversation around valuable energy transitions by bringing their ideas to life with guidance and support from corporates. The selected startups will receive cash prize grant of up to Rs 5 lakh along with opportunity to pilot their product with corporates. The corporates will offer selected startups access to technology, technical and commercial mentorship and access to potential customers through corporate network of partners. Startups from innovators across various stages of energy life-cycle i.e. generation, transmission and distribution, storage and consumption in multiple sectors such as households, industry, farm, infrastructure, utility, building and transport are invited under this programme.

Invest India

It is official Investment Promotion and Facilitation Agency of Central Government. It has been set up as non-profit venture under Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industries. It is mandated to facilitate investments in the country. It is first stop for potential global investors in country.