Connect with us

Press Releases

CMD, IREDA Advocates for Innovative Financing to Bridge Green Hydrogen Cost Gap

Published

on

CMD IREDA 2

Shri Pradip Kumar Das, Chairman & Managing Director of Indian Renewable Energy Development Agency Limited (IREDA), today participated in a panel discussion on “Financing Green Hydrogen: Bridging the Cost Gap” at the 2nd International Conference on Green Hydrogen held at Bharat Mandapam. Emphasizing the need to make green hydrogen projects cost-competitive and bankable, Shri Das underscored IREDA’s commitment to driving down project costs through innovative financing solutions, aligning green hydrogen with established renewable technologies like solar, wind, and hydro.

IREDA is already making significant strides in this direction, having recently financed its first green ammonia project, marking its entry into the green hydrogen domain, Also, IREDA aims to facilitate foreign-currency loans for export-oriented developers through its subsidiary at GIFT City, Gujarat. These loans will help developers save 250-350 basis points on hedging costs, making green hydrogen and related derivatives more attractive for global markets. The International Financial Services Centre Authority (IFSCA) has recently granted provisional registration to IREDA Global Green Energy Finance IFSC Limited (a wholly owned subsidiary of IREDA) as a finance company at GIFT City.

IREDA is also working on an in-house, standardized credit appraisal model. This model is designed to capture the risks associated with green hydrogen projects more accurately, integrating these risks into interest rates. Such financing interventions are expected to bring down project costs and enhance the overall bankability of green hydrogen ventures.

Shri Das highlighted the importance of building holistic solutions to tackle the challenges of creating a green hydrogen financing ecosystem. This includes developing robust testing facilities for electrolyser manufacturers, establishing central agencies to test plant designs, and implementing standardized offtake agreements to mitigate risks and ensure long-term project sustainability.

The panel also comprised distinguished industry leaders and experts, including Mr. V K Dewangan, CMD, REC; Mr. Ranjit Gupta, Chief Executive Officer, Ocior; Mr. Tarun Shankar, Senior Investment Professional, International Finance Corporation; Mr. Nishaanth Balashanmugam, Country Manager – India, Green Hydrogen Organisation; Mr. Moez Cherif, India Energy Lead, The World Bank; Mr. K Mukundan, Senior Principal – Strategic Initiatives and Policy Advisory, National Investment and Infrastructure Fund; and Mr. Hitesh Sachdeva, Partner, KPMG, as moderator.

Press Releases

Adani Foundation at ACC Kymore spearheads sustainable agriculture practices with mechanisation

Published

on

By

thumbnail image 1

ACC, the cement and building material company of the diversified Adani Portfolio, is spearheading sustainable agricultural practices by facilitating mechanisation of farming activities. Along with the Adani Foundation, the Company has established a Custom Hiring Centre in Jamuwani Kalan, near ACC Kymore. This initiative showcases how collective farming efforts can transform agriculture into a profitable venture.

Jamuwani Kalan in Katni district is home to 450 families, which primarily depend on agriculture for their livelihood. However, challenges such as stubble burning and high input costs for land preparation have made farming difficult, especially for small and marginal farmers. In February 2024, the Adani Foundation established a Custom Hiring Centre in the village.

Managed by a five-member committee from Jay Shri Ram Kisan Samuh committee, the Centre was initially supported with a capital investment of Rs. 2.5 lakh from the Foundation. This amount was matched by the farmers’ group, mobilised through the Foundation’s efforts to secure registration in the Agriculture Department’s Subsidy portal.

The Centre offers rental services of farming machinery, including Super Seeder, Straw Reaper, two tractors, customised trolleys, and cultivators. The total capital cost of the Custom Hiring Centre is Rs. 24.63 lakh, with Rs. 1.10 lakh received as government subsidy for the Straw Reaper as well as Rs. 2.5 lakh from the Adani Foundation. During the last Rabi crop harvesting season, the Centre served 55 farmers and generated Rs. 1.18 lakhs in revenue from the Straw Reaper alone.

This initiative has saved approximately 100 tonnes of dry straw as cattle feed for the lean season and preserved soil microbes by preventing stubble burning, thus enhancing soil health. In addition, with the support of the Adani Foundation, the Centre promotes the use of Super Seeder for zero-tillage seed sowing, reducing input costs by 35-45% without affecting crop yield. This year, the Centre aims to extend its services to four neighbouring villages, promoting sustainable agricultural practices.

ACC and the Adani Foundation are committed to community welfare and sustainable livelihooods, through promotion of modern farming techniques.

Continue Reading

Press Releases

Centre for Future Skills: NSDC collaborates with Ethnotech Academy and Cambridge to skill and upskill India’s workforce for emerging technologies

Published

on

By

Centre for Future Skills NSDC collaborates with Ethnotech Academy and Cambridge to skill and upskill Indias workforce for emerging technologies

The National Skill Development Corporation (NSDC), under the aegis of the Ministry of Skill Development and Entrepreneurship, has launched the “Centre for Future Skills” an initiative in collaboration with Ethnotech Academy and Cambridge University Press & Assessment. This state-of-the-art facility, a vibrant hub of innovation and learning aims to provide technology infrastructure and expert guidance in the latest technologies to higher education institutions (HEIs), creating a launch pad for students to excel in the rapidly evolving tech landscape and connecting the aspirations of our youth with the ever-changing demands of industry.

The key highlight of the event was to create partnerships between academic/ corporate partners and NSDC, alongside Ethnotech and Cambridge University Press & Assessment. This was followed by panel discussions that delved into current challenges and potential solutions in the fields of emerging technologies.

The technology infrastructure will include all the major technologies such as Artificial Intelligence and Machine Learning, Data Analytics, AR/VR/Meta, Cloud computing, Cyber Security, Internet of Things, Industrial / Home Automation, Robotic Process Automation and Semiconductor Design.

Talking about the initiative, Shri Nitin Kapoor, Vice President, NSDC, emphasised the importance of equipping the youth with skills relevant to the future job market. He stated, “This is a significant advancement in India’s skill development landscape, as we strive to position India as the Skill Capital of the World, our focus on future-ready skills is paramount. Upskilling is no longer a luxury but a necessity, as it empowers individuals to stay relevant and adapt to technological advancements. NSDC International is playing a key role in bridging the global skill gap and Skill India Digital Hub (SIDH) is the go to skill platform for all your skilling needs. 

Continue Reading

Press Releases

MediBuddy Introduces All-in-One Digital Health Solution with MediBuddy Shield and MediBuddy Shield Plus Wellness Cards

Published

on

By

MediBuddy Shield Wellness Card Image

MediBuddy, India’s largest digital healthcare platform, announced the launch of its latest innovation – the MediBuddy Shield and MediBuddy Shield Plus Digital Cards. These cards aim to provide a seamless and comprehensive healthcare experience, catering to a wide range of needs with the convenience of digital accessibility.

As the demand for accessible healthcare continues to grow, MediBuddy has taken a significant step forward by introducing these digital cards, designed to cater to all essential outpatient department (OPD) services. These cards will not only provide customers with easy access to healthcare services but also help them manage their health proactively.

The MediBuddy Shield is a six-month card priced at ₹1,499 + GST, offering two complimentary online doctor consultations, one health checkup, an offline dental consultation, and a personal accident cover of up to ₹1 lakh. The MediBuddy Shield Plus, priced at ₹2,599 + GST for one year, provides additional benefits such as two health checkups, monthly health blogs, bi-monthly webinars, and exclusive discounts on condition management programs. The card will be available from 19th September 2024 for all customers. 

Key features of MediBuddy Shield include: 

  • Two complimentary online consultations with general physicians
  • One free MediBuddy Smart Health Checkup
  • One free offline dental consultation
  • Access to MediBuddy Concierge Services for conditional management
  • Personal accident cover up to Rs 1 lakh

MediBuddy Shield Plus offers additional benefits such as:

  • Four complimentary online consultations with general physicians
  • Two health checkups (Smart and Basic)
  • Monthly health-related blogs and bi-monthly webinars
  • Exclusive discounts on condition management programs

As the healthcare landscape continues to evolve, MediBuddy remains at the forefront, developing solutions that meet the changing needs of consumers. The launch of these digital cards marks another milestone in the company’s mission to make healthcare accessible to all. 

Continue Reading

Trending