10.12.22 Daily [Andhra Pradesh] APPSC Current Affairs

AP is taking big strides in attracting investments in green energy. The state is giving a tough fight to the states which were so far known as hubs for green energy Plants. The state secured fourth spot in generation of green energy in 2022 and it is going to be the leader in the next two-three years as the has lined up several big-ticket projects in RENEWABLE ENERGY sector.

According to the data compiled by the Centre, AP added 1,261.54 megawatts to the existing power generation through green energy during 2022. While Gujarath added a whopping 7,880 mw, Rajasthan added 9,227 mw.

State cabinet had recently stamped its nod for big-ticket investments in green Energy sector. The state government gave green signal to different firms to set up Pumped Storage Hydro-Electricity Projects (PSP). Adani group is planning to set up plants to generate about 3,700mw in different locations. Shirdi Sai electricals of Kadapa district is coming up with two plants with 1,200 mw in green energy sector. These projects are expected to be completed in two-five years. Adani group alone is investing 16,000 crore in green energy plants in AP.

In the Independence Day speech on August 15, 2021,thePrime Minister announced the launch of National Hydrogen Mission. The Ministry of New and has accordingly prepared a draft Mission document which inter-alia proposes to support production and deployment of Green Hydrogen.

Green Hydrogen can potentially be used to replace fossil fuels and fossil fuel based feedstocks in a number of sectors inter alia including fertilizer production, petroleum refining, steel production and transport applications.

Aam Aadmi Party(AAP) led by Arvind Kejriwal is all set to become the latest political outfit to get the status of ‘national party’ as the counting of votes is underway in recently concluded Gujarat Assembly . For AAP to get the status of the national party it will require atleast 6% vote share and needs to win atleast two seats.

To earn a national party status, a political party needs to be recognized in at least four states, and to be recognised as a state party, it needs to win at least two seats and 6 per cent of votes polled in the Assembly election. In other words, AAP needs to win just two seats and secure 6 per cent of votes

The Ministry of Road Transport and Highways (MoRTH) will launch India’s first-ever surety Insurance product on December 19 to boost liquidity in the Infrastructure sector.

While surety bonds refer to the performance or delivery obligation to complete the insured project, the corporate bonds refer to financial obligation to repay the debts or loans.

The European Union has given Croatia the green Light to begin using the euro and join theSchengen zone from next year.

The country will join 19 other EU member states that use the currency.

It will adopt the currency from 1 January 2023, making Croatia the latest nation to join the eurozone since Lithuania in 2015.

From next year, it will mean that just seven EU countries still use their own currency.

By adopting the euro, the eastern European nation hopes to gain more financial security and improve the living standards of its citizens.

Croatia will also benefit economically from closer financial links with the single currency areas other members and the European Central Bank.

As Croatia becomes the 20th EU nation to adopt the euro, there are still a number of members that havent taken this step.

In total, seven EU countries dont use the euro: Bulgaria, Czech Republic, Denmark, Hungary,Poland, Romania, and Sweden.