Page 29 - Energy Sector

Average power purchase cost increases by 71 paise per unit during FY22-23

Average power purchase cost increased by 71 paise per unit during FY22-23 due to a rise in various overheads like transmission and distribution rates, Parliament was informed on Thursday. On the rise in power cost due to increased use of imported coal, Union Power Minister RK Singh, in a written reply to the Lok Sabha, said, "Average power purchase cost increased by 71 paise only between FY22 and FY23. This is because of increase in various costs including an increase in transmission and distribution costs". The minister explained that with the rise in electricity demand from July 2021 onwards, the consumption of coal in thermal power plants increased. The supply of domestic coal on a daily basis was less than consumption, which resulted in the depletion of coal stock and stocks at plants came down from 28.7 million tonnes (MT) as of June 30, 2021, to about 8.1 million tonnes (MT) as of September 30, 2021, he added. Therefore, in December 2021, the Ministry of Power advised state

NMET-funded 11 mineral blocks auctioned, six under process: Coal minister

The government on Wednesday said as many as 11 mineral blocks funded by the National Mineral Exploration Trust have been auctioned while six other blocks are under the sale process. The National Mineral Exploration Trust (NMET) was set up in 2015 to boost regional and detailed mineral exploration activities. "Since inception NMET has funded 270 mineral exploration projects, out of which 162 projects have been completed and the remaining 108 projects are ongoing. "Out of 162 completed projects, 11 projects have been auctioned by the respective state governments and six projects are in pipeline," Coal and Mines Minister Pralhad Joshi said in a written reply to the Lok Sabha. Of the 11 projects, three are in Odisha, two each in Rajasthan and Maharashtra, and one each in Madhya Pradesh, Uttar Pradesh, Chhattisgarh and Karnataka, he said. Of the six NMET blocks under the auction process, five are in Tamil Nadu and one in Karnataka. NMET receives proposals from exploration agencies and

State-owned Coal India's capex rises 7.6% to Rs 10,492 cr in Apr-Nov period

State-owned CIL on Tuesday said that its capital expenditure increased by 7.6 per cent to Rs 10,492 crore in the first eight months of the ongoing financial year. The public sector enterprise's captital expenditure was Rs 9,751 crore in the year-ago period, Coal India Ltd (CIL) said in a BSE filing. "CIL's capital expenditure increased by Rs 741 crore in eight months ending November FY 2024 to Rs 10,492 crore," the company said in a statement. Coal India accounts for over 80 per cent of domestic coal output. "We are striving to achieve around 80 per cent of the current financial year's total targeted capex of Rs 16,500 crore by the third quarter ending December," a senior executive of the company said. CIL's intensified focus on strengthening coal evacuation infrastructure in its mining areas saw the capex going up to Rs 3,247 crore, representing 31 per cent of the entire capex, till November in the current fiscal. "Setting up railway sidings and corridors at Rs 1,842 crore; ...

The safe bet of underground mining

In the face of coal's challenges, its underground mining can prove to be a promising and environmentally conscious path to safeguarding India's energy future

Open access solar capacity grows 21% to 907 MW in Sept quarter: Mercom

The country recorded a 20.6 per cent rise in new installations of open access solar capacity to 907 MW in the September quarter, according to Mercom India. India had added 752 MW (Mega Watt) of open access solar capacities in the year-ago period, the research firm said in its 'Q3 2023 Solar Open Access Market Report'. On a quarter-on-quarter (q-o-q) basis, the capacity addition was 36 per cent higher than the 666 MW in the April-June quarter, the report said on Monday. As of September 2023, the country's cumulative installed open access solar capacity was 11 GW (Giga Watt). Under the open access model, an individual or a company can set up a green energy plant and sell the clean power generated in the open market to discoms or private consumers. "The drop in solar project costs attracted consumer attention this quarter. Power purchase agreements that were on the back burner are now being signed," Priya Sanjay, Managing Director at Mercom India, said. Emphasis on greening products

Explosion rocks hydrocarbon refinery in Iran's special economic zone

Rescue teams have temporarily withdrawn from the spot due to the constant threat of further explosions. No casualties have been reported in the incident, according to IRNA report

Bimal Dayal appointed as CEO of Adani Infra, will oversee energy projects

Adani Energy Solutions' transmission business chief Bimal Dayal has been appointed as the CEO of Adani Infrastructure India. Dayal will oversee the implementation of the pipeline of infrastructure projects in thermal, renewable energy and green hydrogen by Adani Infrastructure India, Adani Energy Solutions Ltd (AESL) said in a statement on Friday. The current management team of AESL led by Anil Sardana, Managing Director, and Kandarp Patel, who has been given charge of all verticals of AESL, will drive the ambitious growth of transmission, distribution and smart metre segments. The leadership changes have been made to support enhanced growth of Adani Infrastructure business, the statement said. This decision has been duly approved by the board of directors of AESL. "With this executive-level transition, the Adani portfolio of companies has taken another significant step towards strengthening their resolve to grow the infrastructure business at an aggressive rate of over 15 per cen

Woodside in talks with Santos to form $52 billion Australian gas giant

Santos says it's exploring a range of alternative structural options

Rooftop solar installations rise 34.7% to 431 MW in Jul-Sep: Mercom

The rooftop solar installations in India registered a 34.7 per cent year-on-year jump to 431 MW during July-September 2023, aided by a fall in module prices, Mercom India said. The rooftop solar installations were at 320 megawatt (MW) during the three-month period of 2022, the research firm said in a report. The rooftop solar capacity addition was also higher at 1.3 gigawatt (GW) in the first nine months of 2023, compared to 1.2 GW in January-September 2022. India's cumulative rooftop solar capacity reached 10.1 gigawatts (GW) at the end of September 30, 2023, the 'Q3 2023 Mercom India Rooftop Solar Report' said. "We are starting to see a surge in momentum in rooftop installations. The significant drop in module prices has reached a turning point, sparking increased procurement activities that offer attractive returns for rooftop solar investments. We foresee two very robust quarters coming up," said Raj Prabhu, CEO of Mercom Capital Group. The majority of installations were in th

India's energy needs to double by end of decade, says Mukesh Ambani

India, the world's third-largest energy consumer, will see its energy needs doubling by the end of this decade as it witnesses an unprecedented explosion of economic growth, the nation's richest man Mukesh Ambani said on Saturday. Speaking at the convocation of Pandit Deendayal Energy University (PDEU), Ambani, who heads the nation's most valuable company Reliance Industries Ltd, said the Indian economy will become a USD 40 trillion economy by 2047 from the current USD 3.5 trillion. "And to fuel this growth, the country will need enormous amounts of energy - clean, green energy that won't choke mother nature for the sake of human progress," he said. "In fact, India's energy requirement is set to double just by the end of this decade." Ambani is pivoting its largest fossil-fuel-dominated conglomerate to clean energy, investing billions of dollars in building giga factories to produce new energy ecosystems as well as generate renewable energy, and produce green hydrogen. Addressing t

Sugar to remain mainstay of business amid ethanol expansion: BCML

Sugar major Balrampur Chinni Mills Ltd (BCML) said that sugar will continue to be the primary focus despite expanding its ethanol production by 50 per cent to approximately 33 crore litres this season between November and April. A top company official revealed that the company has no immediate plans to venture into sugar retail. "Our goal is to strike a balance between sugar and ethanol production to maximize profitability and ensure sustainable growth, based on market conditions," BCML Promoter and Business Lead Avantika Saraogi told PTI. She is the daughter of BCML Chairman and Managing Director Vivek Saraogi. "The company foresees a 33:66 ratio between ethanol/alcohol and sugar for the year. Last year, the share of ethanol revenue was about 28 per cent," she said. BCML's decision to optimize its product mix is driven by a combination of factors, including fluctuating sugar prices and the government's ethanol blending policy. Saraogi pointed out that the country's sugar consump

Tamil Nadu in process of developing green hydrogen hub: Minister Rajaa

Tamil Nadu was leading the green energy transition revolution and was in the process of developing a green hydrogen hub, Industries Minister T R B Rajaa said here on Tuesday. At the India EV Conclave event organised on the theme 'Electrifying Tomorrow: Navigating the EV Transition", he said 50 per cent of installed energy capacity in the state was green and the government was targeting to increase it to 75 per cent. "Tamil Nadu is leading the green energy transition revolution. The government's commitment and efforts were acknowledged with the 'UN Promotion Award 2023 for Excellence in Scaling Up Energy Transition Investments' at the recent World Investment Forum held in the UAE," he said. "We are in the process of developing a green hydrogen hub. If we also have a robust electric vehicle charging infrastructure, the transition from fossil-fuel dependency to green energy sources and renewables will benefit all," the minister said. He said leading electric vehicle players such as Ol

Tata Power gets 1st set of BESS from Tata AutoComp for energy storage park

Tata Power on Saturday said it has received the first set of Battery Energy Storage Systems (BESS) from TATA AutoComp for its energy storage park. These BESS will be deployed at a 120 MW energy storage park in Chhattisgarh, Tata Power said in a statement. Tata AutoComp, a leading auto components maker, also inaugurated its manufacturing facility for BESS. The Li-ion-based BESS will be manufactured under its joint venture Tata AutoComp Gotion Green Energy Solutions Pvt Ltd. "With the rise of renewables, energy storage has become critical to address the intermittency of solar and wind energy resources. We shall integrate these BESS at our renewable sites to enable round-the-clock supply of clean power and ensure a speedier green energy transition," Tata Power CEO Praveer Sinha said. Spread over 22,227 square feet, the newly inaugurated BESS facility will have a capacity of 6 GWH (gigawatt hour) and will serve the emerging energy storage industry. Tata AutoComp had earlier entered in

Siemens AG to buy 18% stake in Indian joint venture for $2.28 billion

Once the demerged entity is listed, Siemens Energy is to ultimately acquire a controlling stake in the demerged energy business

MCX stock riding on hopes of strong prospects post technology upgrade

The long-term growth opportunity remains, and trading volumes may benefit from new product launches

Israel govt approves new outline plan to increase its energy storage

It also regulates the planning procedures for the promotion of storage facilities and enables the issuance of permits for small to large storage facilities

THDCIL inks pacts to develop 3,270 MW renewable energy projects in K'taka

THDC India Ltd (THDCIL) is planning to set up 3,270 megawatts (MWs) of clean energy projects, including pumped storage and floating solar, in Karnataka, its chairman and managing director R K Vishnoi has said. In this regards, the Uttarakhand-based company on Thursday signed two memoranda of understandings with Karnataka Power Corporation Limited (KPCL) and Karnataka Renewable Energy Development Limited (KREDL) in Bengaluru. "These collaborative efforts encompass the development of a diverse range of projects, spanning ground-mounted, floating solar projects, and hybrid projects including pumped storage projects (PSPs) with a cumulative capacity of around 3,270 MW," Vishnoi said in a company statement. Gaurav Gupta, managing director of KPCL, and K P Rudrappaiah, MD of KREDL, signed the agreement with Bhupender Gupta, Director (Technical), THDCIL, in presence of K J George, Minister of Energy, Government of Karnataka. "This strategic alliance not only underscores THDCIL's commitmen

TPDDL, IIT-Roorkee sign MoU for development of energy saving solutions

Tata Power Delhi Distribution Ltd (TPDDL) on Tuesday said it has signed an agreement with IIT-Roorkee to conduct research and develop solutions for optimal use of energy. The Memorandum of Understanding (MoU) was signed between TPDDL CEO Ganesh Srinivasan and M K Singhal, Head of Department, Hydro and Renewable Energy at IIT Roorkee. "TPDDL and IIT Roorkee signed a MoU to research and develop pioneering solutions for optimal use of energy, leading to greener and sustainable future through its Urja Arpan initiative," the company said in a statement. The collaboration with IIT Roorkee signifies a harmonious blend of our experience and their academic brilliance, fostering a fertile ground for... pioneering research papers and inventive ideas within the realm of Urja Arpan, Srinivasan said. Tata Power Delhi Distribution Ltd is a joint venture between Tata Power and the Delhi government.

Suzlon Energy Q2 result: Profit up 81% to Rs 102 crore on fall in expenses

Suzlon Energy on Thursday posted over 81 per cent rise in consolidated net profit to Rs 102.29 crore for September quarter 2023-24 mainly due to decline in expenses. Net profit in the year-ago period was Rs 56.47 crore, according to a BSE filing by the company. Total income declined to Rs 1,428.69 crore in the second quarter from Rs 1,442.58 crore in the same period a year ago. Total expenses also dipped to Rs 1,291.26 crore from Rs 1,427.84 crore. "At the end of Q2 FY24, our orderbook stands at a healthy 1,613 MW...Our service business continues to do well, while our forging and foundry business SE Forge consolidated on its foundation for future growth," J P Chalasani, Chief Executive Officer, Suzlon Group, said. Himanshu Mody, Chief Financial Officer, Suzlon Group, said the company was anchored strongly with a net cash of Rs 599 crore by September 2023 which is a significant shift from net debt of Rs 1,180 crore in March 2023. On the back of a successful QIP conclusion in Augu

Power consumption grows nearly 22% to 138.94 billion units in October

The country's power consumption grew nearly 22 per cent to 138.94 billion units (BU) in October, showing a surge in electricity demand due to festivities and increased economic activities. In the year-ago period, power consumption stood at 113.94 BU, higher than 112.79 billion units recorded in October 2021, according to government data. The peak power demand met -- the highest supply in a day -- rose to 221.62 GW in October. The peak power supply stood at 186.90 GW in October 2022 and 174.44 GW in October 2021. The power ministry had estimated the country's electricity demand to touch 229 GW during summer. The demand did not reach the projected level in April-July due to unseasonal rain. The peak supply, however, touched a new high of 224.1 GW in June before dropping to 209.03 GW in July. Peak demand touched 238.19 GW in August. In September this year, it was 240.17 GW. Industry experts said power consumption was affected in March, April, May, and June this year due to widesprea