BUSINESS NEWS 

Teresa Ribera visited the headquarters and Global Technical Academy of Nordex Group in Hamburg on May 20 as the European Union increases focus on renewable energy, electrification, and industrial competitiveness. Nordex Chief Executive Officer José Luis Blanco and Chief Financial Officer Ilya Hartmann hosted the visit and discussed the company’s role in Europe’s onshore wind energy sector.

The United Arab Emirates has signed a partnership framework with World Bank to strengthen investment climate reforms and enhance its position as a global destination for foreign direct investment (FDI). The agreement focuses on improving transparency, predictability, and competitiveness in the country’s investment environment.

The fashion industry is at a pivotal moment in its sustainability journey. As the Global Fashion Summit 2026, organized by Global Fashion Agenda,  approaches, industry leaders are set to gather in Copenhagen from May 5-7 to explore how the sector can navigate its most pressing environmental and social challenges.

Global shipping routes face mounting disruption as the International Maritime Organization (IMO) raises alarm over safety conditions in the Strait of Hormuz. The agency confirmed that nearly 20,000 seafarers remain stranded across approximately 1,600 vessels in the Persian Gulf amid escalating security threats.

Electric vehicle (EV) sales reached a record high in the United Kingdom in March 2026, driven by rising fuel costs and shifting consumer preferences. Battery electric vehicle (BEV) registrations rose 24.2% year-on-year to 86,120 units, marking the highest monthly total on record. 

The Solar Energy Corporation of India Limited (SECI), a public sector undertaking under the Ministry of New & Renewable Energy, has entered into a Memorandum of Understanding (MoU) with the Government of Madhya Pradesh to establish a 200 MW solar project in Dhar. The agreement was finalized during the ongoing Global Investors Summit 2025 in Bhopal, held from Feb 24-25, 2025.

A coalition of 33 industrial clusters spanning 16 countries has joined forces to drive economic growth, create jobs, and significantly reduce greenhouse gas emissions. The new addition of 13 industrial clusters marks a major step in the World Economic Forum’s (WEF) Transitioning Industrial Clusters initiative, launched at COP26 in 2021. 

Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a landmark joint venture agreement with SJVN Ltd., GMR Energy Ltd., and Nepal Electricity Authority (NEA) to develop the ambitious 900 MW Upper Karnali Hydropower Project in Nepal. This collaboration is poised to enhance regional energy security while driving forward renewable energy development in South Asia. 

Floating Solar Park in Omkareshwar, Madhya Pradesh, has become a symbol of India's commitment to clean and sustainable energy. Union Minister of New and Renewable Energy Pralhad Joshi visited the park on Jan 4 to mark a significant milestone in India’s renewable energy journey. It has a total capacity of 600 MW, is now the largest floating solar project in India. 

The Indian Renewable Energy Development Agency (IREDA) has announced an ambitious vision for 2025, focusing on pioneering innovations in renewable energy, expanding into retail markets, and broadening its global presence. In a New Year's address to employees, Chairman and Managing Director Pradip Kumar Das emphasized IREDA's role in shaping India's green energy future. 

The Odisha Solar Investor Conclave, organized by GRIDCO, marked a major milestone in the state's renewable energy journey. The Indian Renewable Energy Development Agency Limited (IREDA) announced the sanction of over Rs. 3,000 crore for green energy projects, underscoring its commitment to Odisha’s ambitious renewable energy goals.  

In a groundbreaking effort to curb the environmental damage caused by fashion and construction industries, eight countries have launched a $340 mn initiative aimed at transforming these resource-heavy sectors. This 6 yrs program, backed by the Global Environment Facility, seeks to eliminate hazardous chemicals, reduce greenhouse gas emissions, and restore vital ecosystems.

The United States Agency for International Development (USAID) and the International Solar Alliance (ISA) have signed a MoU to advance renewable energy grid interconnections and accelerate the global transition to sustainable power systems. The collaboration seeks to enhance cross-border energy infrastructure.

The Government of India is calling for proposals to establish Centres of Excellence (CoE) focused on cutting-edge research and development in Green Hydrogen. The initiative, launched under the National Green Hydrogen Mission, aims to propel the country’s clean energy future by fostering innovation, sustainability, and energy independence. 

The World Bank Group has announced a strategic pivot in its agribusiness approach, committing to double its financial investment to $9 billion annually by 2030. This initiative aims to create a comprehensive ecosystem focused on boosting agricultural productivity and enhancing climate resilience in response to rising global food demand and significant challenges like climate change and digitalization.

The GCF Board has approved over $1 billion for 16 climate initiatives to enhance resilience in developing countries ahead of COP29. This funding raises GCF’s total investments to $16 billion, supporting nations like Angola, Iraq, and Somalia. Key projects include a debt-for-climate conversion in Barbados and initiatives to empower women in Angola. 

Union Minister for New and Renewable Energy, Pralhad Joshi, wrapped up a significant three-day visit to Germany, aimed at enhancing bilateral cooperation in the energy sector. His visit coincided with the Hamburg Sustainability Conference (HSC), marking a pivotal moment for India’s commitment to global sustainability and renewable energy. 

As India celebrates the 10th anniversary of "Make in India" initiative, the country has witnessed a remarkable change in its renewable energy, particularly in solar power. The initiative has propelled India’s solar photovoltaic (PV) module manufacturing capacity from a modest 2.3 gigawatts (GW) in 2014 to a staggering 67 GW. 

A new briefing from the European Environment Agency (EEA) underscores the urgent need to address the pervasive issue of polyfluorinated alkyl substances (PFAS), commonly known as "forever chemicals," in textiles. As one of the major contributors to PFAS pollution in Europe, the textile industry faces increasing scrutiny as policymakers and environmental advocates push for safer, more sustainable alternatives.

In a significant move towards accelerating global green energy transitions, Prime Minister Narendra Modi inaugurated the 4th Global Renewable Energy Investor’s Meet and Expo (RE-INVEST) today at the Mahatma Mandir in Gandhinagar, Gujarat. This 3-day summit celebrates India's landmark achievement of surpassing 200 gigawatts (GW) of installed non-fossil fuel energy capacity. 

The International Conference on Green Hydrogen (ICGH-2024), held at Bharat Mandapam in New Delhi, marked a pivotal moment in the global green hydrogen sector with the announcement of India's exclusive partnership with the European Hydrogen Week, set to take place in November 2024.  

Australia has moved a major step forward in renewable energy with the approval of a groundbreaking $19 billion (30 billion Australian dollars) solar project. The initiative, led by Australian company Sun Cable, has received the necessary environmental clearances to proceed with its ambitious plans.

The world’s leading minds in green energy have gathered in New Delhi for the 2nd International Conference on Green Hydrogen, a three-day pivotal event aimed at shaping the future of global energy sustainability.  

The inaugural International Solar Festival has concluded in New Delhi, marking a momentous celebration of solar energy’s transformative potential. The festival, held over the past two days, underscored the global commitment to harnessing the power of the sun for a sustainable future. 

India is stepping into the spotlight as a global pioneer in green hydrogen, with the nation gearing up to host the 2nd International Conference on Green Hydrogen (ICGH 2024) from September 11-13 at the Bharat Mandapam in New Delhi. This high-profile event promises to showcase India’s ambitious strides in clean energy and innovation. 

The Solar Energy Corporation of India Ltd (SECI), a pivotal player in India's renewable energy sector, has been awarded Navratna status by the Ministry of Finance. This prestigious designation, granted on August 30, 2024, marks a significant milestone for SECI, reflecting its remarkable performance and pivotal role in the nation's energy landscape. 

The Indian Renewable Energy Development Agency Limited (IREDA) has achieved a notable milestone by obtaining an international credit rating from S&P Global Ratings. In its recent update, S&P assigned IREDA a long-term issuer credit rating of ‘BBB-’ and a short-term rating of ‘A-3’. 

A new World Bank report highlights critical issues facing banks in Emerging Market and Developing Economies (EMDEs) as they grapple with climate financing and financial stability. 

The World Bank has announced a groundbreaking financial initiative designed to combat plastic pollution and bolster vulnerable communities through a new $100 million Plastic Waste Reduction-Linked Bond. This seven-year, principal-protected bond will channel private capital.

In an exciting development for green energy enthusiasts and everyday citizens alike, India and Japan have signed a groundbreaking agreement to export green ammonia from India to Japan. This deal, overseen by Union Minister of New and Renewable Energy Pralhad Joshi, represents a major leap forward in our global effort to fight climate change and embrace cleaner energy sources. 

This initiative aims to promote the use of biomass—organic material derived from forestry waste, agricultural residues, and municipal solid waste—as a sustainable energy source. Ministry of New and Renewable Energy has updated financial incentives under the National Bioenergy Programme. 

The 4th International Climate Summit 2024 in New Delhi highlighted a sense of urgency and determination among global leaders, environmental experts, and policymakers. The summit focused on Energy Security, Food Security, and Decarbonization. 

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