Page 2 - Energy

Axiscades, Europe's MBDA join hands to set up defence unit Bengaluru

Homegrown Axiscades on Friday said it has signed an agreement with European missile systems major MBDA to set up a defence facility in Karnataka. The pact has been inked through its wholly owned subsidiary Axiscades Aerospace and Technologies to set up the unit at the Aerospace Park near Kempegowda International Airport, Bengaluru, Axiscades Technologies (Axiscades) said in a statement. "The facility will be equipped with test bench laboratories, infrastructure for missile launchers, specialized equipment, and trained technical personnel to support MBDA's advanced systems engineering requirements," it said. The agreement was signed on the sidelines of the ongoing Paris Air Show 2025 in France. In May, Axiscades CEO and MD Alfonso Martinez said, "As we approach FY26, our priority is to capitalise on the opportunities in emerging sectors like manufacturing, MRO, chip-to-product and advanced defence technologies, including unmanned warfare, to bring about non-linear, product-led, ...

Govt's 2nd VGF boosts battery energy storage systems development: IESA

Industry body India Energy Storage Alliance on Wednesday hailed the government's announcement of the second tranche of the viability gap funding to boost the development of standalone Battery Energy Storage Systems. The scheme aligns with the government's ambitious goal of achieving 30 GWh of energy storage capabilities distributed among 15 states with support from NTPC, the India Energy Storage Alliance (IESA) said in a statement. It aims to attract an investment of Rs 33,000 crore, fulfilling the country's BESS requirements by 2028. IESA believes that India Energy Storage Week 2025 will further accelerate this initiative by bringing together industry leaders, stakeholders, and investments from around the globe, the statement said. A viability gap funding (VGF) of Rs 18 lakh (USD 21,043)/MWh will be provided to support the development of 30 GWh of BESS capacity under this tranche. The funding will be sourced from the Power System Development Fund (PSDF), with a total financial ou

Govt must review energy risk scenarios due to Iran-Israel war: GTRI

With the Israel-Iran conflict intensifying, the government must urgently review energy risk scenarios, diversify crude sourcing, and ensure strategic reserves are sufficient, think tank GTRI said on Sunday. Due to the war, India is increasingly at risk of collateral economic fallout, with energy security, trade routes, and key commercial interests facing growing uncertainty, the Global Trade Research Initiative (GTRI) said. "The escalating hostilities and rising regional tensions are posing direct threats to India's strategic and economic links with West Asia," GTRI Founder Ajay Srivastava said, adding India has significant trade exposure to both warring nations. In 2024-25, India exported goods worth USD 1.24 billion to Iran and imported USD 441.9 million in return. Trade with Israel was even more substantial, with USD 2.15 billion in exports and USD 1.61 billion in imports. "But more critical than these bilateral flows is India's reliance on the region for energy: nearly two-thir

Israel-Iran tensions: Hardeep Puri says India has adequate energy supplies

India, the world's third-largest oil importer and fourth biggest gas buyer, has enough energy supplies for the coming months, Oil Minister Hardeep Singh Puri said amid escalating tensions in the globe's biggest energy supply regions. In a post on X, the minister said he held a periodic review of energy availability scenario with the captains of the Indian oil industry. "India's energy strategy is shaped by successfully navigating the trilemma of energy availability, affordability and sustainability," he said. "We have adequate energy supplies for the coming months." Global oil prices have jumped to their highest level since January after Israel struck Iran, in a dramatic escalation of tensions in the Middle East. The rate of the benchmark Brent crude was up by more than 10 per cent shortly after the news emerged, but eased a little. Brent was trading close to USD 75 a barrel, up more than 5 per cent over Thursday's close. India imports more than 85 per cent of its crude oil needs

GEF Capital Partners sells 5.55% stake in Premier Energies for ₹2,629 cr

GEF Capital Partners on Tuesday divested a 5.55 per cent stake in Premier Energies for Rs 2,629 crore through open market transactions. Premier Energies Ltd (PEL) is among the largest integrated manufacturers of solar photovoltaic cells and modules (in terms of installed capacity) and specialty solar photovoltaic products in India. US-based GEF Capital Partners through its affiliate South Asia Growth Fund II Holdings LLC sold a total of 2.5 crore equity shares, representing a 5.55 per cent stake in Premier Energies Ltd, as per the bulk deal data available with the NSE. The transaction, valued at around Rs 2,629 crore, was executed at an average price of Rs 1,051.60 per share. Following the stake sale, the shareholding of South Asia Growth Fund II Holdings in Premier Energies declined to 5.55 per cent from 11.10 per cent. Meanwhile, Quant Mutual Fund bought 43.55 lakh shares, amounting to a 0.97 per cent stake in Premier Energies. Also, Premji Invest's arm PI Opportunities AIF V

Indian Biogas Association hails govt move to hike procurement price of CBG

Industry body Indian Biogas Association (IBA) on Sunday hailed the government's decision to hike the procurement price of compressed biogas, saying the move will meaningfully support unlocking the latent value of the sector. However, it stated that the hike is less than the anticipated and hoped for another upward revision soon. The petroleum ministry has revised upward the CBG procurement price from Rs 1,380 per Metric Million British Thermal Unit to Rs 1,478/MMBTU, with effect from June 1. The revised rate will be effective till October 31, 2025. This move demonstrates greater appreciation for the economics of the industry and will meaningfully support unlocking the latent value of bioenergy in India, IBA said in a statement. Gaurav Kedia, IBA Chairman, said: "This change in price is a step in the right direction for CBG developers as it corresponds with their reality. However, a higher revision was anticipated, considering the economics of the production, which can also shoulder

Chemical giants weigh Europe exits amid soaring energy costs, Asian rivals

Sabic, Dow, Shell and others are reviewing European assets as high energy costs global competition and expansions in Asia and West Asia strain the continent's chemical sector

Energy assets in focus as India bolsters security amid border tensions

Key oil, natural gas infra located along west coast in Gujarat and Maharashtra

Govt moots emission reduction targets for energy-guzzling companies

Proposes greenhouse gas reduction via carbon trading or sector-wise firm targets

Energy storage sector to attract Rs 4.79 trn investment by 2032: IESA

India's energy storage sector is likely to attract Rs 4.79 lakh crore investment by 2032, industry body India Energy Storage Alliance (IESA) said on Sunday. At the 5th Edition of International Conference on Stationary Energy Storage India (SESI) 2025 concluded last week at Gandhinagar, in Gujarat, industry body IESA projected that India's energy storage sector is poised to expand five-fold between 2026 and 2032, a statement said. The National Electricity Plan (NEP), projected that India will need an energy storage capacity of 16.13 GW (7.45 GW PSP (pumped storage project) and 8.68 GW BESS (battery energy storage system) with a storage capacity of 82.37 GWh (47.6 GWh from PSP and 34.72 GWh from BESS) by 2026-27. By the year 2031-32, the storage capacity demand is projected to increase to 73.93 GW (26.69 GW PSP and 47.24 GW BESS), with storage of 411.4 GWh (175.18 GWh from PSP and 236.22 GWh from BESS). "India's energy storage sector is projected to expand five-fold between 2026 and

Reliance-ONGC-BP alliance wins Gujarat offshore block for exploration

In an unprecedented alliance, ONGC, Reliance, and BP won a Gujarat offshore block under OALP-IX. ONGC secured 15 blocks overall, while Vedanta won 7 out of 28 blocks offered in the latest bid round

India, Sri Lanka, UAE unveil ambitious initiative for energy cooperation

India, Sri Lanka and the United Arab Emirates on Saturday firmed up an ambitious agreement to develop Trincomalee as an "energy hub" with a broader aim to help Colombo to achieve energy security and fuel its economic growth. The pact was signed following wide-ranging talks between Prime Minister Narendra Modi and Sri Lankan President Anura Kumara Dissanayake. To expand their energy ties, India and Sri Lanka also concluded a separate pact on electricity grid interconnection, a project that has been on the drawing board for some time. On the tripartite energy pact, Foreign Secretary Vikram Misri said it is an initiative designed to ensure Sri Lanka's energy security, provisioning of energy at affordable rates, and also to contribute revenue to the island nation through export earnings from energy. Explaining the pact, Misri said at a media briefing that the pact is a government-to-government MoU in order to provide the enabling framework, and to set out some of the broad terms of ...

JSW Energy installed generation capacity touches 10.9 GW in FY25

The installed generation capacity at the end of FY25 stands at 10.9 GW, significantly surpassing the 10 GW capacity target set for FY25

India Energy Week: Alternative sourcing deals with global firms on cards

Energy Ministers from UK, Qatar and African economies to be present at 3rd IEW beginning today

Juniper Green Energy secures $1 billion fund in phased debt financing

Renewable energy developer Juniper Green Energy on Monday said it has secured USD 1 billion in phased debt financing over the past few months from leading financial institutions. This strategic funding will support the growth and development of Juniper Green Energy and its subsidiaries, specifically for wind-solar hybrid and Firm & Dispatchable Renewable Energy (FDRE) projects. The company has successfully secured USD 1 billion in phased debt financing over the past few months from leading financial institutions, including Power Finance Corporation Limited (PFC), DBS Bank, HSBC Bank, and the Indian Renewable Energy Development Agency Limited (IREDA), Juniper Green Energy said in a statement. This fresh debt financing positions Juniper Green Energy to execute large-scale renewable projects, strengthen its operational capacity, and meet the rising demand for clean energy, it informed. Juniper Green operates a total capacity of 1.1 GWp. Recent developments include Juniper Green ...

Energy transition fund in crude oil sector unlikely to make return

Petroleum ministry had requested to reinstate the fund in Union Budget

From immigration to energy: Inside Donald Trump’s first executive orders

Donald Trump, sworn in as the 47th US President, signed a series of executive orders on his first day, reversing several Biden-era policies and pushing his agenda.

Donald Trump to declare national energy emergency, unlocking new powers

Trump vowed he would declare a national emergency on energy, saying it was needed to increase output and address burgeoning demand

Delhi's Bawana plant sparks protests, locals threaten to boycott polls

The proposed waste-to-energy plant in Bawana has taken centre stage ahead of the Delhi Assembly elections with the local residents raising environmental and health concerns and a section threatening to boycott the polls if the project proceeds. The plant has been planned on a 15-acre site near the Treatment, Storage, and Disposal Facility (TSDF) for hazardous waste in DSIDC Sector 5. Speaking to PTI, residents from over 15 nearby villages have claimed that the project will result in the destruction of trees, increased air and water pollution, and long-term health risks, including respiratory ailments as well as neurological disorders. They also argued that emissions from the waste-to-energy (WTE) plant, such as dioxins, furans, particulate matter (PM2.5 and PM10), and even heavy metals like mercury and lead, will not just worsen the air quality but also endanger public health. The toxic emissions from this plant will put our lives at risk. We're already struggling with pollution fr

Sterling Tools forays into manufacture of latching relays for energy sector

The company has partnered with Zhejiang Meishuo Electric Technology Co., China to locally manufacture latching relays for the energy sector, industrial grids, and other applications in India