India’s Sovereign Green Bond Programme: What Has Been Funded, What the Taxonomy Changes, and What Industrial Companies Need to Know | Reclimatize.in

India has issued Rs 32,000 crore of sovereign green bonds, funding renewable energy, energy efficiency, clean transport, and climate adaptation. The Climate Finance Taxonomy will define eligible assets for all future issuances. For industrial companies, the question is whether and how sovereign green bond proceeds can flow to industrial decarbonisation — and what the taxonomy’s eligibility criteria mean for co-financing access.

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Virtual Power Purchase Agreements Under CERC Regulation 14A: What Industrial Consumers Need to Know | Reclimatize.in

CERC Regulation 14A, notified in March 2026, creates the legal framework for Virtual Power Purchase Agreements in India — allowing industrial consumers to financially contract for renewable energy attributes from generators anywhere in the country without physical delivery, wheeling charges, or state-specific open access barriers. This is the first time India has provided a clear regulatory framework for financial RE procurement. This article explains the mechanics, compliance value, and limitations.

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DRI-EAF Economics for Indian Steel: The Natural Gas Bridge to Hydrogen and What the Numbers Actually Say | Reclimatize.in

Direct Reduced Iron produced with natural gas and melted in an Electric Arc Furnace reduces Scope 1 emission intensity to approximately 0.8–1.4 tCO₂/t crude steel — against India’s BF-BOF average of 2.5–2.8 tCO₂/t. This 60–70% reduction in CBAM-relevant Scope 1 emissions changes the EU market economics entirely. The pathway from natural gas DRI to hydrogen DRI is technically straightforward and commercially progressing through the SIGHT programme. This article maps the full cost and carbon arithmetic.

DRI-EAF Economics for Indian Steel: The Natural Gas Bridge to Hydrogen and What the Numbers Actually Say | Reclimatize.in Read More »

India Secondary Aluminium: The 10-Fold CBAM Advantage of the Scrap Route and Business Case | Reclimatize.in

Secondary aluminium produced by melting scrap rather than smelting bauxite, has embedded emissions approximately 10 to 15 times lower than Indian coal-based primary aluminium. Under CBAM, this translates to an approximately €900–1,400/t cost advantage on EU exports. India’s secondary aluminium sector is significantly under-invested relative to this economic opportunity — largely because scrap supply chains are fragmented and the true CBAM economics have not been adequately modelled by secondary producers. This analysis maps the full picture.

India Secondary Aluminium: The 10-Fold CBAM Advantage of the Scrap Route and Business Case | Reclimatize.in Read More »

CBAM Product Classification: Which HS Codes Are Covered, What Is Excluded, and the Common Errors Indian Exporters Make | Reclimatize.in

CBAM does not cover all steel, all aluminium, or all fertilisers. It covers specific goods defined by EU Combined Nomenclature (CN) codes under Annex I of Regulation EU 2023/956. An Indian exporter that misclassifies its products, either including non-covered goods in its CBAM declaration or excluding covered goods faces either unnecessary compliance cost or regulatory violation. This is the practical classification guide that every Indian CBAM compliance officer needs.

CBAM Product Classification: Which HS Codes Are Covered, What Is Excluded, and the Common Errors Indian Exporters Make | Reclimatize.in Read More »

Open Access Renewable Electricity: Why the State You’re In Determines the Rs 1.50 to 2.00 per Unit Cost Gap | Reclimatize.in

India’s cheapest solar tariff in competitive auction is under Rs 2.50/unit. But the landed cost of that solar electricity for an industrial open access buyer in some states exceeds Rs 6.50/unit after cross-subsidy surcharges, wheeling charges, banking restrictions, and transmission losses. The state you’re in, not the solar tariff determines whether open access RE makes economic sense. This state-by-state analysis maps the full cost picture for five key industrial states.

Open Access Renewable Electricity: Why the State You’re In Determines the Rs 1.50 to 2.00 per Unit Cost Gap | Reclimatize.in Read More »

India’s REC Market: How Renewable Energy Certificates Are Traded, Who Must Buy, and What the Price Signal Means | Reclimatize.in

India’s Renewable Energy Certificate market sits at the intersection of three regulatory obligations, the Renewable Purchase Obligation, the Renewable Consumption Obligation, and the Energy Storage Obligation. With REC Solar at Rs 1,000/MWh, offshore wind RECs at a 4× multiplier, and pumped hydro at 3×, the REC market in 2026 looks fundamentally different from the one that existed in 2022. This article maps the full mechanics, issuance, trading, surrender, and what the price signal reveals.

India’s REC Market: How Renewable Energy Certificates Are Traded, Who Must Buy, and What the Price Signal Means | Reclimatize.in Read More »

India’s Urea Import Crisis and the Temporary Green Ammonia Break-Even | Reclimatize.in

India imports approximately 30% of its urea needs, around 8–9 million tonnes annually. With international urea at $700/t during the West Asia War shock, the government’s subsidy bill per imported tonne has exceeded Rs 75,000. At this price level, green urea produced from domestic green hydrogen at $4/kg is cost-competitive with subsidised conventional urea on a total delivered basis, years ahead of where analysts placed the break-even in 2023. This article maps the arithmetic, the policy implications, and what it means for the HPO mandate.

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Scrap-EAF vs BF-BOF: The Reline-Retire-Retool Decision Every Indian Steel CFO Must Make | Reclimatize.in

India’s blast furnace fleet has an average age exceeding 20 years. Every blast furnace reaching the end of its campaign faces a three-way decision: reline at Rs 800–1,200 crore and run for another 12–15 years of BF-BOF production, retire without replacement, or retool toward an EAF-based steelmaking route. At current CBAM costs, coking coal prices, and CCTS GEI trajectories, the financial arithmetic of this decision has shifted materially since 2022. This article maps the full cost comparison.

Scrap-EAF vs BF-BOF: The Reline-Retire-Retool Decision Every Indian Steel CFO Must Make | Reclimatize.in Read More »

India’s Record Wind Year: What 6.1 GW of New Capacity in FY26 Does to the Carbon Market | Reclimatize.in

India added 6.1 GW of wind capacity in FY26, a 46% acceleration over FY25 and the highest annual addition in the sector’s history. Cumulative installed wind now exceeds 56 GW, with 28 GW under implementation. This is not only a renewable energy milestone. It is a carbon market event. Wind generation displaces coal at the margin, lowers India’s Grid Emission Factor, reduces CCTS Scope 2 GEI for every industrial consumer on the grid, and adds to the CCC supply pool that will determine Phase 1 carbon market price formation. This article traces the full chain from turbine to carbon credit price.

India’s Record Wind Year: What 6.1 GW of New Capacity in FY26 Does to the Carbon Market | Reclimatize.in Read More »

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