Page 24 - Energy Sector

Ample Parks to invest Rs 800 crore in Chennai's Mahindra World City

Ample Parks will develop 15-17 projects across Tier-I and Tier-II cities such as Mumbai, Pune, Bengaluru, NCR, Lucknow, Guwahati, Nagpur, and Ahmedabad over the next five to seven years

Electricity: A strategic view

Heavy lifting is now required in electricity and financial reforms

Rajasthan Cabinet approves setting up four joint ventures in energy sector

The Rajasthan Cabinet on Saturday approved a proposal for the setting up of four joint venture companies in the energy sector, which will work on projects related to renewable and thermal power generation and transmission. The state Cabinet chaired by Chief Minister Bhajanlal Sharma also approved the development of metro rail projects in the state. Apart from setting up joint ventures for renewable and thermal power projects and power transmission projects, the Cabinet also cleared the formation of an infrastructure investment trust, according to an official statement. Deputy Chief Minister Premchand Bairwa, Industry and Commerce Minister Rajyavardhan Singh Rathore and Parliamentary Affairs Minister Jogaram Patel informed about the decisions, the statement said. Bairwa said that as per the Metro Rail Policy 2017, the proposal for the formation of a joint venture company between the central government and the state was approved. This joint venture will be for the development, operat

Coal doesn't make sense in today's environment: Avaada group chairman

Mittal has raised $2.6 billion since 2023 from Canadian fund Brookfield and Thailand's state-run oil company PTT group, enabling him to participate and win several bids this year

Thermax Q1 results: Net profit jumps 82% to Rs 109 cr, revenue up 13%

Energy and environment solutions provider Thermax on Thursday posted an 82 per cent jump in its consolidated net profit to Rs 109 crore as against Rs 60 crore in the same period last year mainly due to higher revenues. The company reported consolidated operating revenue of Rs 2,184 crore in the first quarter of FY25, registering a 13 per cent increase compared to Rs 1,933 crore in the same quarter of the previous fiscal, according to a company statement. The order booking for the quarter stood at Rs 2,569 crore as against Rs 2,567 crore in the corresponding period a year ago. The board has approved an additional equity investment of USD 2.8 million in Thermax (Thailand) Limited, a step-down subsidiary of the company through Thermax Engineering Singapore Pte Ltd. (TESPL), a subsidiary of the company. The board has approved the issuance of a guarantee for an amount not exceeding USD 4 million on behalf of Thermax (Thailand) Limited. During the quarter, Thermax unveiled a manufacturi

Budget 2024: No 'budget' for energy transition is a cause for concern

Withdrawing funds for the initiative to be taken up by oil refiners, who have lost their power to price fuels for the last few years, is a cause for concern

Torrent Power Q1 result: Net profit up 88% at Rs Rs 972 cr on robust demand

Heatwaves and increasing economic activity have resulted in India's electricity generation growing at an average of about 8 per cent annually following the pandemic

BluPine Energy secures Rs 239 cr financial assistance from Tata Capital

BluPine Energy on Monday said it has secured Rs 239 crore financial assistance from Tata Capital. The amount will be utilised towards a solar power project in Chhattisgarh, the company said in a statement. The 75 megawatt project is expected to generate nearly 117 million units (MUs) of energy annually and offset more than 107,000 tonne of Co2 emissions, it said. BluPine Energy is a leading renewable energy services company established in India by Actis, a global investor and world leader in funding and building sustainable infrastructure companies. Tata Capital Ltd (TCL) is the flagship financial services company of Tata Group, and is carrying on business as a non-banking financial company.

Adani Energy Solutions likely to divest Dahanu unit to Adani Power

Last week, Adani Energy took an impairment of Rs 1,506 crore on the asset

J&K admin approves Rs 400 crore rooftop solar project for govt buildings

Jammu and Kashmir administration on Sunday approved a Rs 400 crore project under which grid-tier rooftop solar power systems will be installed on all government buildings in the union territory. "The Administrative Council, which met here under the chairmanship of Lieutenant Governor Manoj Sinha, approved solarizing of all government buildings in Jammu and Kashmir by installation of Grid-Tied Rooftop solar power systems of an aggregate capacity of 70 MW in Capex mode at a project cost of Rs 400 crore and 200 MW in RESCO mode," an official spokesman said. He said the project shall be implemented by Jammu & Kashmir Energy Development Agency (JKEDA). The government buildings shall be installed with Rooftop Solar Projects of different capacities aimed at leveraging the vast rooftop spaces of government establishments for solar energy generation, the spokesman said. These solar power systems shall have bi-directional smart meters and the Virtual Net Metering (VNM) benefit would be ...

Oiling wheels of change

China's post-2013 oil strategy offers valuable lessons for India on unlocking new reserves

Hitachi Energy India Q1 results: Net profit jumps four-times to Rs 10.4 cr

Hitachi Energy India on Wednesday posted four-fold jump in net profit to Rs 10.4 crore for June quarter FY25 mainly due to higher revenues. The company had reported a net profit of Rs 2.4 crore for the year-ago period, it said in a BSE filing. Revenues rose to Rs 1,327.3 crore from Rs 1,043 crore. "As the energy transition gathers pace, investments in the power sector - especially renewables continued to grow," said N Venu, MD & CEO of Hitachi Energy India. This is reflected in the company's strong order intake and record order backlog which it is steadily converting to revenues through solid execution while keeping a close watch on costs. "We are optimistic on ongoing market support, especially in our identified high growth segments - renewables, HVDC, data centers, electrification of transport, etc," he added. In June quarter, orders totalled Rs 2,436.7 crore, more than double as compared to the year-ago period. Renewables led the charge from studies across utilities and ...

Transitioning to a green future: Budget 2024 underlines energy security

The government will also formulate a roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets'

Economic Survey: Navigating energy transition with energy security

A recent report by the Principle Scientific Adviser, Government of India and IIM Ahmedabad estimates India's energy demand to double by 2040

India's green H2 push facing demand and supply side constraints: Eco Survey

Says diversification of energy sources needed but thermal power to play significant role

Need policies to deploy more solar panels: Waaree group Chairman & MD

The world's largest solar panel maker outside China spoke about the challenges and opportunities facing the industry

Waaree Renewable Technologies receives Rs 90 cr solar power project

Waaree Renewable Technologies on Monday said it has received a Rs 90-crore solar power project to be developed on a turnkey basis. The project is scheduled to be completed in ongoing financial year 2024-25, Waaree Renewable Technologies Ltd (WAAREERTL) said in an exchange filing. "WAAREERTL has received a Letter of Award (LOA) for the execution of Engineering, Procurement and Construction works for solar power project of 30 MW DC capacity on turnkey basis," it said. The order values Rs 90.29 crore excluding taxes, it added. The company did not disclose the name of the entity that awarded the project.

THDCIL overcame many challenges to become 4351 MW entity: CMD Vishnoi

THDC India Ltd (THDCIL) has overcome many challenges over the last 36 years to achieve significant milestones in energy sector, its CMD R K Vishnoi said. The official made the remarks while addressing around 1,700 employees of the company on Saturday at the 'Foundation Day' event of the Rishikesh-based entity. From a single hydro project company in 1988, today the company has a portfolio of nine projects (hydro, thermal, wind and solar), with a total capacity of 4351 MW. This includes 1587 operational projects and 2764 MW under- construction, Vishnoi said. "From the hardships to commission India's highest dam project of 1000 MW, the Tehri hydro power project, to a diversified energy portfolio entity, THDC India has overcome many challenges to achieve significant milestones since its establishment in 1988. Employees' unwavering dedication and perseverance have been crucial for the company's success and growth," he said. In his address, the CMD also said the company will soon be maki

State-owned Coal India firms up gasification plans in tie-up with BHEL

In May 2024, CIL and Bhel joined hands to set up BCGCL as a joint venture. CIL holds 51 per cent stake while Bhel has 49 per cent

India's clean air target at risk as gas plan caught in regulatory minefield

New Delhi's ambitious targets to clean its air by decarbonising energy sector will be underpinned by its success in building nascent natural gas segment