Current Affairs - Business

Tata Power has taken a significant step towards promoting renewable energy by partnering with Noida International Airport. This collaboration involves a substantial investment of Rs 550 crore, enabling the supply of 10.8 MW of wind power and the development of 13 MW onsite solar power capacity. Tata Power's expertise will ensure the airport's energy needs are met sustainably. Additionally, the company will develop critical utilities and provide operation and maintenance services for 25 years, demonstrating its commitment to long-term sustainability and energy efficiency. This partnership sets a precedent for eco-friendly infrastructure development in India.

Hindalco, a leading aluminium producer, has achieved a remarkable milestone by securing the top position in the 2024 S&P Global Corporate Sustainability Assessment. With an impressive score of 87 points, Hindalco demonstrates excellence in Environmental, Social, and Governance (ESG) factors. The company's commitment to sustainability is evident through its climate strategy, effective waste management, and employee development initiatives. Notably, Hindalco has reduced specific greenhouse gas emissions by 19.54% and recycled 85% of operational waste. As part of the Aditya Birla Group, established in 1958, Hindalco continues to set benchmarks for sustainable practices in the aluminium industry.

Oil and Natural Gas Corporation (ONGC) has joined forces with NTPC Limited to create a 50:50 joint venture, driving India's green energy future. Through their respective green subsidiaries, ONGC Green Energy Ltd. (OGL) and NTPC Green Energy Ltd. (NGEL), the partnership aims to accelerate renewable energy growth in solar, wind, green hydrogen, and sustainable fuels. This collaboration, approved by DIPAM and NITI Aayog, marks a significant step in achieving India's renewable and new energy goals. The joint venture will explore diverse opportunities, including energy storage, green molecules, e-mobility, and carbon credits, solidifying ONGC's commitment to sustainable energy innovation.

Coal India Limited's 50th Foundation Day celebrations highlighted its significant contribution to India's energy sector. The company's mascot, "Angara," symbolizes strength and resilience, reflecting the crucial role coal miners play. As the largest coal-producing company in the world, Coal India Limited has been instrumental in meeting India's energy demands. The launch of the Strategy Report on Coal and Lignite Exploration and the Mine Closure Portal underscores the company's commitment to sustainable and responsible mining practices. This milestone reinforces Coal India Limited's position as a vital component of India's energy infrastructure.

GAIL (India) Limited and VERBIO India have signed an MoU to develop projects that convert agricultural residue into compressed biogas (CBG). This partnership focuses on creating clean energy while reducing greenhouse gas emissions and supporting rural income by utilizing agricultural waste. The initiative aligns with India's climate objectives and aims to enhance renewable bioenergy production across the country. Additionally, GAIL and VERBIO will explore forming a joint venture and conducting feasibility studies to establish new greenfield CBG plants in India.