Page 19 - Energy Sector

Tata Power to sell green energy to group companies, MNCs: Praveer Sinha

Says they will offer carbon credit on their green power sale to companies that require it

Govt projects biggest power shortfall in 14 years, races to curb outages

The deficit also follows delays, a government source said, in the commissioning of 3.6 gigawatts (GW) of new coal-fired plants which had been targeted to be operational before March

Tata Power plans 66% higher capex at Rs 20k cr in FY25; to spend 50% on RE

Tata Power has planned a 66 per cent higher capital expenditure of Rs 20,000 crore in this fiscal compared to a year ago, which will mainly focus on projects supporting energy transition and India's net-zero emission target by 2070. During the year ended March 2024, the capex (capital expenditure) was around Rs 12,000 crore, the company's CEO Praveer Sinha said during a post earnings conference call. "This year we are targeting to spend around Rs 20,000 crore," he said in reply to a question on company's planned capex. Sharing the breakup of the investment plant, Sinha said about 50 per cent will be on renewables (projects). The remaining will be mix of transmission, distribution and conventional projects. The company will fund the capex through internal accruals and some debt, Sinha said. Tata Power on Wednesday posted an 11 per cent rise in its consolidated net profit to Rs 1,046 crore in the March 2024 quarter compared to the year-ago period, mainly on the back of higher ...

Met coal imports from Russia up nearly three-fold in last 3 financial years

Imports of metallurgical coal from Russia have spurted around three-fold in the last three years to around 15.1 million tonnes in 2023-24 mainly due to lower prices while the same from Australia have declined, according to a research firm. Russia's share in India's metallurgical coal imports of 73.2 million tonnes (MT) has risen to around 21 per cent from around 8 per cent in 2021-22, research firm Big Mint said in a statement. The import of metallurgical coal, which includes coking coal and pulverised coal injection (PCI), from Russia, stood at 5.1 MT, accounting for 8 per cent of India's total imports of 65.6 MT of the commodity in 2021-22. Metallurgical coal imports from Russia rose to 11.3 MT in 2022-23, accounting for 16 per cent of 69.9 MT met coal imports in that year. In 2023-24, met coal imports from Russia were 15.1 MT or 21 per cent of total met coal imports of 73.2 MT. Australia, a major supplier of met coal to India, saw a decline in the commodity's exports to India. ..

Fossil fuel capacity grows 2.44% in FY24; non fossil-fuel rises 11%

The country's fossil fuel-based power generation capacity increased 2.44 per cent to 243.22 GW in FY24 from 237.27 GW in March 2023, according to official figures. There was a 10.79 per cent rise in non-fossil fuel based capacity (renewable energy sources) addition at 190.57 gigawatt (GW) in 2023-24 over 172.01 GW in 2022-23, the government data showed. While the fossil fuel-based capacity includes power generation through coal, lignite, gas and diesel sources, the non-fossil fuel includes power generated from solar, wind and hydropower. The nuclear power capacity addition rose to 8.18 GW from 6.78 GW in the last fiscal year, posting a year-on-year rise of 20.64 per cent. In FY24, India's total power generation capacity rose 6.22 per cent to 441.97 GW over 416.06 GW, the data showed. The coal-based capacity increased around 3 per cent to 210.97 GW from 205.24 GW in the last financial year, and gas capacity rose marginally to 25.04 GW from 24.82 GW in FY23. The lignite- and ...

Microsoft, Brookfield to partner to develop new wind, solar farms

The agreement provides a pathway for Brookfield to deliver the new renewable energy capacity between 2026 and 2030 in the U.S. and Europe, a Microsoft spokesperson told Reuters

Power consumption increases by 11% to 144.25 billion units in April

India's power consumption rose around 11 per cent to 144.25 billion units (BU) in April as compared to the year-ago period, mainly due increase in temperatures. In April 2023, the power consumption stood at 130.08 BU, a government data showed. The highest supply in a day (peak power demand) also rose to 224.18 GW in April 2024 as against to 215.88 GW in April 2023. The power ministry has estimated around 260 GW of peak demand during summer. Experts said the increase in power consumption as well as growth in demand was mainly due to increase in temperatures and increased industrial activities in sectors like steel and power. The demand for power as well as consumption will continue to see robust growth with the onset of summer, they said. The power ministry had estimated the country's electricity demand to touch 229 GW during summer in 2023, but it did not reach the projected level in April-July due to unseasonal rainfall. Peak supply, however, touched a new high of 224.1 GW in J

KEC International bags orders worth Rs 1,036 crore in India, abroad

KEC International on Monday said it has secured new orders worth Rs 1,036 crore in the domestic and international markets. The company's transmission & distribution (T&D) division has secured orders for setting up overhead transmission lines in the United Arab Emirates (UAE), and supply of towers, hardware and poles in the Americas, KEC International said in a regulatory filing. The railways business has secured an order for additional work in the conventional segment in India, while the cables business has secured orders for supply of various types of cables in India and overseas. Vimal Kejriwal, MD & CEO, KEC International said, "these order wins have significantly enhanced our order book in the international T&D market and further strengthened our presence in the Middle East. The order inflows at the start of the financial year reaffirm our confidence in achieving the targeted order intake for the year." KEC International is a global infrastructure engineering, ...

India expects annual power output to grow at fastest in over a decade

India's weather office has forecast more heat-wave days than normal between April and June this year, potentially boosting power use and generation further

Copper demand to boom as new tech drives power consumption: Trafigura

Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy

KP Energy Q4 results: Consolidated net profit grows 60% to Rs 25 crore

KP Energy on Monday posted a 60 per cent rise in its consolidated net profit at Rs 24.89 crore during the quarter ended March 2024 on account of increased income. It had reported a net profit of Rs 15.48 crore in the January-March period of preceding 2022-23 financial year, the company said in an exchange filing. For the whole FY24, the company reported its net profit at Rs 58.32 crore, up from Rs 43.90 crore profit recorded in FY23. During the fourth quarter of FY24, the company's total income increased to Rs 217.40 crore from Rs 151.09 crore in the year ago. During the entire fiscal, the total income rose to Rs 485.54 crore from Rs 442.38 crore in the preceding fiscal. The expenses in the reporting quarter was at Rs 183.28 crore, up from Rs 128.56 crore registered in the same period last fiscal. The expenses were at Rs 408.18 crore in FY24 as against Rs 377.41 crore in the previous fiscal. In a separate statement, KP Energy Limited said it has received an order from Bhathwari ..

Gajanan S Kale takes over as CEO of Tata Power Delhi Distribution

Before joining Tata Power-DDL, Kale served as the Chief Executive Officer of TP Western Odisha Distribution Limited (TPWODL) since 2021

Power consumption rises nearly 10% to 70.66 bn units in first half of April

India's power consumption grew nearly 10 per cent year-on-year to 70.66 billion units (BU) in the first half of April this year, showing improvement in economic activities and consumption patterns, according to the power ministry data. According to the data, power consumption in the country rose to 70.66 BU during April 1-15 this year from 64.24 MU in the year-ago period. The peak power demand met or the highest supply in a day rose to about 218 GW in the first half of April compared to 206 GW in the same period a year ago. The highest supply in a day during the entire month of April last year was about 216 GW. The ministry has projected a peak power demand of 260 GW during the summer season (April to June) in view of longer heat wave duration. The peak power demand had touched an all-time high of 243 GW in September 2023. The India Meteorological Department (IMD) has predicted above-normal maximum temperatures in most parts of the country during summer this year. The experts sai

Juniper Green commissions 25.2 MW capacity of its 70 MW wind energy project

Delhi-NCR based Juniper Green Energy on Tuesday announced commissioning of 25.2 MW capacity of its 70-MW wind power project. The project has been commissioned almost nine months before the scheduled commercial date of operation, the company said in a statement. The operational 25.2 MW is part of the project's progressive rollout, it said. This project will deliver power under a 25-year Power Purchase Agreement (PPA) with GUVNL at a tariff of Rs 2.90, aligning with efforts to provide cost-effective and environmentally responsible energy solutions, as per the statement. The project is expected to produce around 230 MUs (million units) of electricity per year, aiding in Gujarat's renewable energy efforts and reducing carbon emissions by an estimated 2,13,055 tonnes annually. The initiative will supply power to about 45,440 households, showcasing Juniper Green Energy's role in promoting renewable energy adoption. Juniper Green Energy CEO Naresh Mansukhani said, "I am immensely proud

Jaguar develops mobile energy-storage unit using Range Rover batteries

The MAX BESS can charge up to nine Range Rover PHEVs at a time and can be recharged using a standard EV charger

Centre in a huddle to understand impact of the Iran-Israel tensions

Inter-ministerial meets, stakeholder talks take off

Fuelling tensions: West Asian conflict reveals India's oil vulnerability

Iran attacked Israel after an airstrike by Jerusalem on April 1 on an Iranian embassy compound in Damascus killed an Iranian general and six officers

Govt sets coal production target of producing 170 million tonnes for FY25

The government has set the target of producing 170 million tonnes of coal from captive and commercial coal blocks in the country during the current financial year. In FY24, captive and commercial coal blocks produced 147.12 million tonnes (MT) of dry fuel, 26 per cent higher from 116 MT produced in FY23. According to an official, additional secretary, coal, M Nagaraju this week reviewed the coal production targets for FY25. Representatives of 74 coal mines were present in the review meeting. "Coal block allottees are confident of achieving the production target of 170.0 MT in 2024-25," the official said. The additional secretary also reviewed the plans of anticipated operationalisation of new mines during 2024-25. Out of the total output of 147.2 MT in FY24, power sector captive mines produced around 121.3 MT, captive mines of the non-power sector produced 8.4 MT while commercial mines generated 17.5 MT of fuel. The country's coal import rose to 244.27 MT in the April-February pe

ReNew constructs 1.94 GW of renewable energy assets, hits 10 GW in capacity

Clean energy firm ReNew on Wednesday said it has completed construction of 1.94 GW of renewable assets in FY24, taking its total capacity to 10 GW. Accounting for assets sold, the company's revenue generating capacity stands at 9.52 GW as on March 31, 2024, the company said in a statement. The company added 1,174 MW of solar and 768 MW of wind energy during FY24. This is one of the highest-ever capacity additions of wind energy among all companies in India in a single year, it stated. ReNew, among the largest clean energy companies globally, announced on Wednesday that it has completed construction of 1.94 GW of RE assets in FY24, taking the cumulative capacity set up by the company to over 10 GW, the statement said. In FY24, ReNew contributed about 10 per cent of the country's total solar and wind energy generation. The company has India's largest wind portfolio of 4.7 GW, representing 10.5 per cent of India's total wind energy capacity, it stated. In 2023-24, ReNew won auction

India may devote more sugar to ethanol in blow to export hopes: Report

The nation extended its export restrictions in October to protect domestic supplies ahead of national elections