Page 29 - Energy Sector

SWELECT Energy launches solar module manufacturing unit in Tamil Nadu

SWELECT Energy Systems Ltd, formerly Numeric Power Systems, engaged in production of solar photo-voltaic module has launched its solar module manufacturing unit in Tamil Nadu, the company said on Friday. With the launch of the new facility at Sarkarsamakulam, located on the outskirts of the city, SWELECT supersedes its 140 MW facility established in 2013 in Bengaluru. The production at the manufacturing unit would be scaled upto 595 MW from the initial 385 MW, managing director R Chellappan said here. The company, which holds five per cent market share, has installed about 3,800 solar roof tops, 6,000 water pumps, he told reporters. According to company website, it has a fully automated photovoltaic manufacturing unit at Dabaspet in Bengaluru. The company operates a 140 MW class one lakh dust-free clean room, world-class photo-voltaic solar technologies manufacturing plant with research and development facility. SWELECT also boasts of a 'Balance of Systems' manufacturing unit in S

OilMin accepts all major Kirit Parikh panel recommendations on gas pricing

Final cabinet note being prepared, but Finance Ministry yet to submit comments on key issues

Indian Energy Exchange commences trade on high price day ahead market

Indian Energy Exchange on Friday said it has commenced trade in the High Price Day Ahead Market segment to provide a new avenue of high variable cost electricity generators like imported coal and gas-based projects. "IEX, India's premier energy exchange, today announced the commencement of trade in the High Price Day Ahead Market (HP-DAM) segment," an IEX statement said. The Central Electricity Regulatory Commission (CERC) in its order dated February 16, 2023, approved the introduction of HP-DAM in the Integrated Day Ahead Market segment in the power exchange. This will provide a new avenue to the high variable cost generators which may not have been able to participate in DAM due to the existing price ceiling of Rs 12/kWh or unit, it explained. The HP-DAM segment was launched by Union Power Minister RK Singh during a webinar held on March 9, 2023. Speaking at the launch of HP-DAM, the minister said that it is a step towards reforming the evolving power market by meeting the curre

Viraj Profiles with Avaada Energy to set up 100 MW solar plant in Maha

Stainless steel maker Viraj Profiles along with Avaada Energy will set up a 100 MW solar project in Tarapur, Maharashtra. The aim is to make the captive project operational by February 2024, Viraj Profiles said in a statement on Friday. The company did not disclose financial details of the project. According to industry estimates, an investment of about Rs 5 crore is required to set up every 1 MW of solar capacity. Once commissioned, the plant will generate about 207 million units of green energy per year, which will offset approximately 182 million kilos of CO2, the statement said. "Viraj Profiles along with Avaada Energy shall set up a special purpose vehicle (SPV) to build the 100 MW captive solar plant," it said. The power generated will be used for captive consumption by Viraj Profiles' stainless steel unit in Tarapur, reducing its dependence on conventional sources by 50 per cent.

Charts signal bearish trend for Nifty Pharma in near-term: Ravi Nathani

According to the technical analyst, traders must adopt 'sell-on-rise' strategy for Nifty Pharma, Nifty Energy, and Nifty Midcap 100 indices

Energy industry needs investment to meet global demand: OPEC Chief

He said the oil and gas industry, which will retain its share as a critical component of the energy mix, must transform and decarbonize operations

New thermal plants: A reality check

The quest to secure India's energy future should not lead to suboptimal policy solutions

'Buy-on-dips' strategy suitable for Nifty MidCap 50, suggests Ravi Nathani

According to the technical analyst, traders must adopt 'buy-on-dips' strategy for Nifty Energy, Nifty Commodities, and Nifty MidCap 50 indices

Renewable energy firms missing deadlines to be blacklisted for 3-5 years

Senior executives, however, pointed out that the encashment of bank guarantee in case of default was always part of the tender document issued by central government agencies

Essar on a new path of growth, to invest in energy, steel, mining sectors

Armed with substantially lighter balance sheet after repaying Rs 2 lakh crore debt, Essar is embarking on the next phase of growth by investing in hydrogen projects, building LNG import facility and retail chain, and setting up steel plants. Prashant Ruia, director, Essar Capital Ltd, said Essar currently owns businesses in the core sectors of energy, metals and mining, infrastructure, services and technology and its future plans centre around them. It is looking to set up steel plants in Odisha and Saudi Arabia and a facility to import liquefied natural gas (LNG) at Hazira in Gujarat. In the UK, where it owns an oil refinery, the group is setting up a blue hydrogen plant and is exploring opportunities to set up a green ammonia unit in India. Essar has set up a unit to retail LNG to trucks and will set up a chain of outlets dispensing the environment-friendly fuel. "We have completed what is certainly the one of the biggest, if not the biggest, deleveraging exercise by repaying Rs

ONGC aims to raise output over next two fiscals, says exploration director

In what may come as relief amid growing uncertainty over availability of petroleum products across the world in the aftermath of Russia-Ukraine war, India's largest explorer ONGC plans to raise its

PM asks investors to explore investment opportunities in energy sector

Prime Minister Narendra Modi on Monday urged global investors to explore investment opportunities in the country's energy sector, saying India is the most opportune place at present. Modi in his inaugural address at the India Energy Week 2023 said the Budget (for 2023-34) has provided Rs 10 lakh crore for capital expenditure, which will give a boost to green hydrogen, solar power and road sectors. "I ask you to explore all opportunities connected with India's energy sector. India is the most opportune place for investment today," he said at the India Energy Week, which is being attended by several ministers, corporate leaders and experts from different nations. The Prime Minister also recalled several initiatives taken by the government to promote green energy and make India net zero by 2070. The budget 2023-24 has provided Rs 35,000 crore to the petroleum and natural gas ministry for achieving the net-zero target. India Energy Week 2023 is the first major event of G20 under India

Challenge to energy security, access should be deliberated upon: R K Singh

Union Power Minister R K Singh on Sunday said discourse on energy transition needs to be expanded, and stressed upon deliberation on challenges such as energy security and access. He was speaking to reporters on the sidelines of the first energy transitions working group (ETWG-1) meeting, under G20 India Presidency here. Stating that the meeting is in preparation of a G20 declaration which is energy, Singh said, "It is the most critical aspect today, as you cannot develop without energy. Development means energy." At the same time, there is a climate crisis and the world needs to ensure that emissions are brought down in order to restrict global warming to below two degrees centigrade, which is achievable, he said in the conference that the different challenges for energy transition like technology, finance, supply chain would be looked at, as they are critical. Stressing the need to expand the discourse, the Minister said one cannot talk about energy transition alone, and there i

Rs 35K cr for energy transition: Energy sector awaits disbursement details

No decision has been taken on how to utilise this money for green initiatives and the government is yet to come out with any guidelines too

PM prioritising energy sector in northeast: Union minister Hardeep Puri

The prime minister's priority is to put the region on a high growth trajectory and he is putting great emphasis on the energy sector: Puri

PM Modi always prioritised energy sector of Northeast: Hardeep Singh Puri

Prime Minister Narendra Modi has always prioritised the energy sector of the North East, Petroleum and Natural Gas Minister Hardeep Singh Puri said here on Monday. The prime minister's priority is to put the region in the high growth trajectory and as such he is putting great emphasis on the energy sector, Puri said while participating at the run-up to the India Energy Week event here tonight. Without giving any detail, the Union minister said several big projects in the sector are also in the pipeline in the region. The Petroleum and Natural Gas minister was also present at the signing of the Memorandum of Understanding (MoU) between Numaligarh Refinery Limited (NRL) and the Assam government to set up three bamboo nurseries that were signed on the occasion. Each nursery will cover an area of five hectares to accomplish secondary hardening of tissue-cultured bamboo saplings and will be set up in Golaghat, Nagaon and Sonitpur. The three bamboo nurseries will generate saplings that

Transition to more inclusive, sustainable energy system needed: RK Singh

Union Minister R K Singh on Tuesday said a transition to a more inclusive, sustainable, affordable and secure global energy system is imperative

Ratan Tata-backed Repos expects to grow three-fold this fiscal to Rs 185 cr

Ratan Tata-backed energy distribution startup Repos is expected to grow by close to three-fold to Rs 185 crore in the current fiscal on account of increased traction for its service among business-to-business clients, a top official of the firm said. Repos Energy founder and CVO Aditi Bhosale Walunj told PTI at the Auto Expo 2023 that the company is in the process of raising Rs 300 crore to fund expansion of business across India as well as a platform to offer carbon-neutral fuels such as ethanol and electric vehicle chargers. "We have been fortunate enough to have Mr Ratan Tata as our initial investor. Last fiscal year we did business of Rs 65 crore. Our business has been growing multifold. This fiscal we expect our top line to be around Rs 185 crore," Walunj said. She said that the company's fuel distribution platform is mainly built around the delivery of diesel but it is now adding new fuels to the platforms to make it available at the doorsteps of end consumers with the help of

NTPC starts India's first green hydrogen blending operation in PNG network

State-owned power giant NTPC on Tuesday said it has started India's first green hydrogen blending operation in the PNG (piped natural gas) network of its township in Kawas, Surat. "The project is a joint effort of NTPC and Gujarat Gas Limited (GGL). The first molecule of green hydrogen from the project was set in motion by P Ram Prasad, Head of Project, Kawas, in presence of other senior executives of NTPC Kawas and GGL," a company statement said. The green hydrogen blending has been started in the piped natural gas (PNG) network of NTPC Kawas township in Surat, it added. After the start of the blending operation, NTPC Kawas held awareness workshops for township residents with the help of GGL officials. NTPC and GGL have worked relentlessly towards achieving this milestone in record time after the foundation stone laying by the Prime Minister on July 30, 2022. This set-up is geared up to supply H2- NG (natural gas) to households of Kawas township at Adityanagar, Surat. Green hydro

Why India needs to build a robust framework to facilitate energy transition

The investment buzz for the transition has begun but policy frameworks still lag the process