SEPTEMBER 20239TOPSTORYSUZLON RECEIVED A PROJECT ORDER FOR 201.6 MW OF WIND ENERGYINDIAN OIL CORP PLANS TO INVEST $30 BILLION TO ACHIEVE 2046 NET-ZERO OPERATIONAL EMISSIONS TARGETSuzlon Group, a developer of renewable energy solutions, reported receiving a large order for a 201.6 MW wind energy project from Teq Green Power XI, a division of O2 Power. But in its announcement, the business omitted to include the order's value. Suzlon stated in a statement that it will "supply the wind turbines (equipment supply) and execute the project including erection and commissioning."The company will also provide operation and maintenance services post-commissioning. "Suzlon Group today announced a significantly large new order acquisition for its 3 MW series of wind turbines from Teq Green Power XI part of O2 Power" it stated. The Suzlon will install 64 of its largest wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each for the 201.6 MW wind power project. The project is expected to be commissioned in 2025.Girish Tanti, Vice Chairman, Suzlon Group said, "We are delighted to welcome Teq Green Power XI part of O2 Power as our esteemed customer through this project." Parag Sharma, Founder and Chief Executive Officer, of O2 Power said in the statement, "This partnership with Suzlon for their 3.15 MW turbines for our wind energy project, represents a milestone in our capability enhancement goals." This Project will enable O2 Power to provide electricity to 1.66 lakh households and curb 6.55 lakh tonnes of CO2 emissions per year. Indian Oil Corp plans to spend $30 billion to achieve its net-zero operational emissions target by 2046, the oil refiner' chairman said. "Our well-crafted blueprint, with a staggered investment plan of about Rs 2.4 trillion or $30 billion, will take us towards the net-zero destination," Indian Oil chairman Shrikant Madhav Vaidya told shareholders at their annual gathering. Indian Oil, which is the nation's largest refiner as well as the fossil fuel retailer, also plans to invest over Rs 1 lakh crore to expand its refining capacity by a third to 107 million metric tonnes per annum."As we navigate through the realms of India's green agenda, I must also underline that given India's progress trajectory and geopolitical realities, it is imperative to strengthen our focus on the traditional fuel business," Vaidya said. He cited the latest outlook from the International Energy Agency, which shows India's oil demand rising from the current 5 million barrels per day (mbpd) to 7 mbpd by 2030, and about 9 mbpd by 2040. "We have seen how, the tumultuous geopolitical events that unfolded last year led to the rearrangement of the energy baskets of the developed economies, leaning towards conventional fuels," he said.Indian Oil is collaborating with Italy's Snam to explore the possibility of converting the existing natural gas pipelines for hydrogen transportation, Vaidya said. Indian Oil's board has accorded stage-1 approval for the setting-up of Paradip petrochemical complex in Odisha at an estimated cost of over Rs 61,000 Crore, he said.
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