Page 28 - Energy Sector

Plans for Britain's largest hydrogen production hub get green light

The Cheshire West & Chester Council has approved Essar Energy Transition's (EET) plans to set up the first large scale, low carbon hydrogen production plant in the UK at the Stanlow manufacturing complex. "Consisting of two plants (HPP1 and HPP2), the hydrogen hub will enable local industrial and power generation businesses to switch from fossil fuels to low carbon energy. This will help reduce the North West's carbon emissions by 2.5 million tonne every year - the equivalent of taking 1.1 million cars off the roads," the company said in a statement. The hydrogen will be used locally by the Essar refinery and other major manufacturers in the region, including Tata Chemicals, Encirc and Pilkington to create the first low carbon refining operations, glass and chemicals manufacturing sites in the world. The EET hydrogen hub will help secure and grow vital industries, create jobs and unlock billions of pounds of related investment. EET will develop the hydrogen hub in phases with the .

Vibrant Gujarat Summit: TPREL plans to invest Rs 70,000 cr in Gujarat

Tata Power's arm Tata Power Renewable Energy Limited (TPREL) plans to invest Rs 70,000 crore for the development of 10,000 MW of renewable energy power projects in Gujarat. The company has signed a Memorandum of Understanding (MoU) with the Gujarat government in this regard at the ongoing 10th edition of Vibrant Gujarat Global Summit 2024 in Gandhinagar. These projects would generate 3,000 job opportunities, the company said in a statement. "The 10,000 MW renewable energy power projects comprise solar, wind, hybrid, Round The Clock (RTC), peak, and Firm and Dispatchable Renewable Energy (FDRE), covering an extensive 50,000-acre of encumbrance-free government land," it said.

ENGIE plans to invest Rs 17,200 cr to set up renewable projects in Gujarat

Pune-based ENGIE plans to invest Rs 17,200 crore for the development of 2.5 GW of renewable energy projects in Gujarat. The company has signed a MoU with the Gujarat government in this regard at the ongoing 10th edition of Vibrant Gujarat Global Summit 2024 in Gandhinagar. These proposed projects are in addition to the ongoing development of a 400 MW solar project at Surendernagar in Gujarat, ENGIE said in a statement on Thursday. "This MoU signifies an investment of Rs 17,200 crore along with creating 14,000 new jobs, reflecting ENGIE India's commitment to contributing to the region's socio-economic development," the company said. Amit Jain, Country Manager, ENGIE India, said, "Through this cooperation with the government of Gujarat, our goal is to play a significant role in advancing the state's renewable energy sector and thereby making substantial contributions to India's overarching clean energy objectives." The company is mainly into renewable power generation.

RIL, ACME, 7 others selected for govt sops to set up green hydrogen plants

Reliance Green Hydrogen and Green Chemicals, ACME Cleantech Solutions, and Greenko Zero are among the nine firms that have emerged as successful bidders for government's incentives for setting up facilities to produce up to 4.50 lakh tonnes of green hydrogen. On July 10, state-owned Solar Energy Corporation of India (SECI) had invited bids for selection of green hydrogen producers for setting up production facilities of 4,50,000 tonnes of green hydrogen under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme (Mode-1-Tranche-I). As many as 12 companies' bids were qualified for incentives to set up production facilities of 5,49,500 tonnes of green hydrogen, against the offered capacity of 4,50,000 tonnes. A SECI statement issued on January 9 showed Reliance Green Hydrogen and Green Chemicals Ltd has been selected to receive incentives for production of 90,000 tonnes of green hydrogen at a three-year average rate of Rs 18.9 per kg. Similarly, ACME Cleantech ...

Indo Petroleum Marketing to set up 100 fuel outlets; to start from Assam

Startup fuel retail firm Indo Petroleum Marketing (IPM) on Thursday said it will set up 100 fuel stations across the country within the next five years while starting its business from Assam. The Delhi-based company has already generated a net worth of Rs 250 crore to roll out its network to sell different types of fuel in the country. "IPM will set up retail outlets or petrol pumps across the country to undertake fuel sales to the public. In the first phase, we will set up 100 outlets within five years," IPM Founder Gyan Prakash Sharma told PTI here. He said that the firm is the first Petroleum and Natural Gas Ministry-authorized startup private Oil Marketing Company (OMC) to commence operations on the ground. "To begin our journey, we will start from Assam. We plan to set up five retail outlets in remote areas within the next two years. The first outlet will come up in Jorhat district", Sharma said. The company has already discussed its plans with the Assam government, which has

Pinewood Systems, Braithwaite partner to develop 500 MW solar project

Pinewood Systems on Wednesday announced that it has plans to develop a 500 MW solar power project in Maharashtra in partnership with state-owned Braithwaite & Co. While Pinewood Systems is an active investor in the renewable energy sector in India, Braithwaite & Co comes under Ministry of Railways. In a statement, Pinewood Systems said it has formed an executive team to develop the project. "We are dedicated to delivering a sustainable and impactful solution to meet the renewal energy demands of Maharashtra, in line with our commitment to clean and renewable energy sources," Pinewood Systems Chairman Satish Jha said. According to the statement, the primary objective is to adhere to the timeline set by Maharashtra State Electricity Distribution Company Ltd (MSEDCL).

National coal index declines 17.5% to 155.09 points in November 2023

Indicating sufficient coal availability in the market, the National Coal Index (NCI) dropped 17.54 per cent to 155.09 points in November 2023. The NCI was at 188.08 points in November 2022, the coal ministry said in a statement on Wednesday. This shows a strong supply of coal in the market, with sufficient availability to meet the growing demand. NCI is a price index that combines coal prices from all sales channels, including notified prices, auction prices and import prices. Established with the base year as fiscal 2017-18, it serves as a reliable indicator of market dynamics, providing insights into price fluctuations. "Similarly, the NCI for non-coking coal stands at 143.52 points in November 2023, reflecting a decline of 25.07 per cent, compared to November 2022, while Coking Coal stands at 188.39 points in November 2023, with a growth of 5.79 per cent compared to the corresponding period of last year," the statement said. The peak of NCI was observed in June 2022 when the i

Power equipment sector's order book charged up on transmission projects

Between April to December 2023, close to 35 projects worth Rs 60,000 crore were offered under tariff-based competitive bidding

TN global investors meet: Tata Power to invest Rs 70K cr in green units

Set to be firm's highest investment in any state

1,900 govt buildings solarised in J&K; 20,000 more to be covered by Dec'25

Nearly 1,900 government buildings have been provided with rooftop solar power plants in Jammu and Kashmir, where 20,000 remaining buildings will be solarized by the end of 2025, an official said on Saturday. Commissioner Secretary, Science and Technology, Saurabh Bhagat said the government offices have 22,494 registrations to their names across the Union Territory with a sanctioned load of about 486 megawatt. Bhagat was briefing a meeting chaired by Chief Secretary Atal Dulloo here to assess the preparedness for saturation of rooftop solar power plants on all the government buildings by December, 2025 in accordance with the target fixed by Prime Minister Narendra Modi at the recently concluded Chief Secretaries Conference in New Delhi, an official spokesman said. The commissioner secretary said nearly 1,900 buildings have already been solarized either by Jammu and Kashmir Energy Development Agency (JAKEDA) or other departments with a cumulative capacity of 27.61 MW till now. He sai

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India

The partnership will consolidate demand for natural gas in India over a period of 10 years, beginning in 2026

Telangana will extend support to Amara Raja's Rs 9,500 cr project: CM Reddy

The Telangana government will extend necessary support for Amara Raja group's advanced chemistry cell gigafactory and battery pack assembly unit being set up in Mahbubnagar district, Chief Minister Revanth Reddy said on Wednesday. The Amara Raja team met the CM here regarding their landmark Giga Corridor project and ePositive Energy Labs in Telangana, an official release said. "Amara Raja is a key partner in Telangana's growth story and (we) assured the necessary support towards the operationalisation of the Advanced Chemistry Cell (ACC) Gigafactory, Pack Assembly and ePositive Energy Labs in Telangana. Telangana is committed towards clean energy and advanced storage technologies like ACCs are a priority sector for the state, the release quoted Reddy as saying. Jayadev Galla, Chairman and Managing Director, Amara Raja Energy & Mobility (formerly Amara Raja Batteries) met CM Reddy and Industries Minister D Sridhar Babu. During the meeting, the Chief Minister Reddy and Galla ...

Power Grid Corp bags transmission project for Rajasthan's 20 GW energy zone

State-owned Power Grid Corporation has bagged an inter-state power transmission project for evacuating power from a 20 GW renewable energy zone in Rajasthan. The scope of the project comprises the establishment of two 765kV D/C transmission lines traversing in Rajasthan and Delhi, along with associated bay extension works at existing substations located in Rajasthan and Delhi, a regulatory filing said. According to the filing, Power Grid Corporation has been declared as a successful bidder under Tariff Based Competitive Bidding to establish an Inter-State Transmission System for "Transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part D Phase I" on build, own operate and transfer (BOOT) basis. The Letter of Intent (LoI) issued on December 29, 2023, has been received by Power Grid Corporation on January 1, 2024, it said.

Reliance Power to sell 1,200 MW Kalai II hydropower project to THDC India

Reliance Power has inked an agreement to sell its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh for Rs 128.39 crore to THDC India. The purpose of entering into the agreement was to monetise the hydroelectric power project, Reliance Power said in a regulatory filing on Sunday. According to the filing, the Governor of Arunachal Pradesh, Kalai Power Private Ltd (a subsidiary of the company), and THDC India Ltd (THDC) have inked an agreement in this regard on December 30, 2023. Under the pact, there will transfer of the development rights and associated physical assets, studies, clearances, designs and intellectual properties of the proposed 1,200 MW Kalai-II hydroelectric project located at the Lohit river basin of Arunachal Pradesh to THDC for an aggregate consideration of Rs 128.39 crore, subject to certain indemnities, representations and covenants, it stated.

CRISIL analysis: Oil, gas use to see 10-15% rise in FY24 amid sector growth

The trends indicate a positive trajectory across various segments of natural gas consumption

Suzlon bags 300 MW project from Apraava Energy to supply wind turbines

Renewables solutions provider Suzlon on Thursday said it has bagged a 300 MW wind energy project from Apraava Energy. Suzlon will instal 100 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, and a rated capacity of 3 MW each at the client's site in Karnataka, a company statement said. Suzlon Group won a new order for developing a 300 MW wind power project for Apraava Energy Private Ltd, as per the statement. As part of the agreement, Suzlon will supply wind turbines and supervise the project, including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning. "Apraava has been a long term, repeat customer for us and we are delighted to partner again with them," Suzlon Group Vice Chairman Girish Tanti said in the statement. Suzlon Group Chief Executive Officer J P Chalasani said, "While the project itself is part of the SECI (tranche XIV) auction, the electricity generated from this project will be used

Troubled Meenakshi Energy Ltd becomes wholly-owned arm of Vedanta

Anil Agarwal-promoted Vedanta on Wednesday said Meenakshi Energy Ltd has become its wholly-owned subsidiary. The National Company Law Tribunal had earlier approved Vedanta's acquisition of Meenakshi Energy for Rs 1,440 crore. "Meenakshi has allotted 10,00,000 fully paid-up equity shares of Rs 10 each amounting to equity capital of Rs 1 crore to the company, consequent to which, Meenakshi has become a wholly-owned subsidiary of the company with effect from December 27," Vedanta said in a regulatory filing. Vedanta had earlier said that it will acquire bankrupt thermal power company Meenakshi Energy for Rs 1,440 crore through an insolvency process. "This letter is in continuation to the stock exchange announcements made by Vedanta Limited (the company) vide its letters dated August 11, 2023 and January 18, 2023 pursuant to Regulation 30 of Listing Regulations regarding the acquisition of Meenakshi Energy Ltd (Meenakshi) under Corporate Insolvency Resolution Process in accordance with

Adani Group announces key partnerships, project wins in energy sector

The group's transmission entity, Adani Energy Solutions, said it has entered into a smart meter joint venture with Esyasoft Holdings Ltd.'s smart metering solutions arm

Nifty FMCG, Nifty Energy: Sell on rise amid likely correction ahead

The anticipated profit booking in Nifty FMCG is expected to continue until the index reaches support levels at 53,681 and 53,100, says Ravi Nathani

Vedanta approves dividend, Siemens India to set up energy business arm

Vedanta said its board of directors have approved a second interim dividend of Rs 11 per share, for the Financial Year 2023-24 amounting to Rs 4,089 crore