Today’s ESG Updates:
- Tata Power’s $5.63B Green Push: 7 GW solar, wind, and hybrid projects planned in Andhra Pradesh, aiding India’s 500 GW clean energy goal.
- Microsoft’s Carbon Credit Deal: Buying 1.5M tonnes of carbon credits in India over 30 years to support afforestation.
- Solar Leads US Power Growth: 84% of new capacity in 2024, but policy shifts may impact future expansion.
- Renaissance Fusion’s €32M Funding: Advancing nuclear fusion with High-Temperature Superconductors (HTS).
Tata Power eyes $5.63 billion investment for 7 GW green energy boost in Andhra Pradesh
Tata Power Renewable Energy Ltd (TPREL) plans to invest $5.63 billion in developing 7 GW of solar, wind, and hybrid projects in Andhra Pradesh, boosting India’s 500 GW clean energy target by 2030. This aligns with Tata Power’s $9 billion renewable expansion plan. Andhra Pradesh targets 160 GW, offering a ₹10 trillion investment opportunity. Despite record 2024 tenders, India faces infrastructure and policy hurdles, with 8.5 GW remaining undersubscribed. Businesses can align with global sustainability standards while driving economic growth using ESG solutions.
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Further reading: Tata Power Explores $5.6 Billion Investment for 7 GW Clean Energy Projects in Andhra Pradesh
Microsoft buys 1.5M tonnes of carbon credits from Climate Impact Partners
Microsoft will purchase 1.5 million tonnes of carbon credits over 30 years from Climate Impact Partners, supporting the Panna Afforestation Project in India. The project will plant 11.5 million native trees across 20,000 hectares, enhancing biodiversity and benefiting local farmers. Microsoft aims to be carbon-negative by 2030 and sees this as a key step. The deal, backed by Terra Natural Capital, aligns with global carbon removal initiatives, including Google’s recent biochar credit purchase in India.
Photo Credit: Matthew Manuel
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Further reading: Microsoft to Buy 1.5m Tonnes of CO2 Removal Credits in India
Solar accounted for 84% of new US power added in 2024
Solar energy accounted for 84% of new U.S. electricity capacity in 2024, adding 50 GW the largest annual growth in two decades. However, the Trump administration’s review of the Inflation Reduction Act’s subsidies threatens future expansion. Total solar capacity is projected to reach 739 GW by 2035, but policy changes could cut deployment by 130 GW, risking $250 billion in investment. Experts warn that altering federal incentives could severely impact the industry’s growth trajectory.
Photo Credit: American Public Power Association
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Further Reading: Solar accounted for 84% of new US power added in 2024
Renaissance Fusion Secures €32 Million in Series A to Accelerate Clean Energy Innovation
Renaissance Fusion raised €32M in Series A funding to advance its nuclear fusion reactor and High Temperature Superconductors (HTS) technology. The company pioneers simplified stellarators and liquid metal walls for compact, low-maintenance fusion energy. HTS commercialization will generate near-term revenue in energy, storage, and medical imaging. Backed by Crédit Mutuel Impact and Lowercarbon Capital, the funding accelerates reactor development, aiming for commercial fusion deployment in the 2030s, positioning Renaissance Fusion as a leader in clean energy. ESG tools can deliver regulatory adherence to businesses by automating compliance.
Photo Credit: Nuno Marques
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Further reading: Assent Launches Sustainability Platform, Cutting Supplier Reporting Time by 92%
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: wikimedia commons
