News in Brief
More renewable capacity for India
Reuters – India will issue tenders for the installation of 250 gigawatts (GW) of green energy capacity by March 2028, according to a government memo released on Monday, as it looks to cut its emissions by 45% from 2005 levels.
After missing a target to install 175 GW in renewable energy capacity by 2022, India is now trying to boost non-fossil capacity - solar and wind energy, nuclear and hydro power, and bio-power - to 500 GW by 2030.
Yuan replaces dollar
BLOOMBERG – China’s yuan has replaced the US dollar as the most traded currency in Russia.
The yuan surpassed the dollar in monthly trading volume in February for the first time, and the difference became more pronounced in March, according to data compiled by Bloomberg based on daily transaction reports from the Moscow Exchange.
Before the Ukraine war, the yuan’s trading volume on the Russian market was negligible.