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US ammonia facility receives USD 1.56 bn in government funding: The US Department of Energy (DOE) has approved a USD 1.56 bn conditional loan agreement to Wabash Valley Resources for the construction of the world’s first carbon-negative ammonia production facility in Indiana, according to a statement. The USD 2.4 bn project plans to convert a power plant to produce 500k metric tons of ammonia per year using petcoke, a byproduct of oil refining, while permanently storing 1.6 mn metric tons of carbon dioxide underground. The plant is expected to be operational by 2026.
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Tata Power to invest USD 9 bn to quadruple renewable energy capacity: India’s Tata Power, a subsidiary of part of the Tata Group, plans to invest up to USD 9 bn to expand its renewable energy capacity from 5 GW to over 20 GW within the next five to six years, CEO Praveer Sinha told Reuters. The company aims to add 5 GW of renewable energy capacity in the next one to two years and is focused on achieving 100% clean energy generation by 2045 by combining solar power, wind power, and battery storage solutions.
Part of India’s clean energy push: Tata’s expansion plans align with India’s goal of adding 500 GW of clean energy by 2030 to reduce emissions. Tata Power seeks to become a major player in this transition, contributing to the nation’s renewable energy capacity.
