Page 2 - Energy

Nayara Energy recovers operations, sales after sanctions, executive exit

Operations are also returning to normal, allowing the company to go beyond meeting its domestic commitments, supplying its more than 6,500 fuel outlets

Meghalaya cabinet clears excise rule changes, accepts MeECL inquiry report

The Meghalaya cabinet on Thursday approved amendments to the state's excise rules, a move expected to generate an additional Rs 90 crore in revenue, officials said. The cabinet also accepted the independent inquiry committee report on Meghalaya Energy Corporation Limited and gave its nod for the financial closure of major central power schemes. Chief Minister Conrad K Sangma said the amendments were aimed at making the state more competitive with neighbouring states. "We want our rates and pricing to reflect market realities. This will make us more attractive to consumers and increase our revenue," he told reporters after the meeting. On the power sector, the CM said the cabinet has accepted the independent inquiry committee report on MeECL covering procurement, AT&C losses and HR management. "We have directed the power department to take steps to implement the recommendations. The report will also be uploaded on the government website to ensure full transparency," he said. The .

GST reforms to strengthen clean-energy transition: Environment minister

Union Environment Minister Bhupender Yadav on Thursday described the government's overhaul of the Goods and Services Tax (GST) as a "historic Diwali gift" that will strengthen India's clean-energy transition. In a post on X, Yadav said, "The GST rationalisation ensures that renewable energy remains the backbone of India's climate strategy." In another post, he termed the move "GST Reforms for a Green India" and said it would help advance clean and green power adoption, improve waste management, lower emissions and protect ecosystems, while maintaining fiscal balance. A steady adoption of solar, wind and waste-to-energy projects is critical for meeting India's Net Zero 2070 pledge and Nationally Determined Contributions (NDCs) under the Paris Agreement, he added. The reforms, announced on Wednesday, include tax cuts on solar panels, wind turbines and related devices to reduce project costs and support domestic manufacturing, lower GST rates on effluent treatment services to boost ..

Best of BS Opinion: India's tariff woes will need careful handling

Today's Opinion Page is dominated by the issue of US tariffs, and what India can do to mitigate its effects. How will it impact India's GDP, and is turning to China really a wise call. Read on.

India, Kuwait discuss avenues to deepen ties in trade, defence, energy

India and Kuwait on Tuesday undertook a comprehensive review of the bilateral relations during a key meeting, as the two sides also discussed avenues to further deepen the strategic partnership in trade, defence, energy, culture, and people-to-people ties. The seventh round of Foreign Office Consultations between India and Kuwait was held in Delhi. "Both sides discussed the various ongoing initiatives and avenues to further deepen our strategic partnership in various spheres, including political, trade, investment, defence, energy, culture, and people-to-people ties," the Ministry of External Affairs said. During the meeting, both sides undertook a comprehensive review of the bilateral relations and exchanged views on regional and international issues of mutual interest, it said. The consultations were co-chaired by Additional Secretary (Gulf) in the MEA, Aseem R Mahajan, and Assistant Foreign Minister for Asia Affairs in the Ministry of Foreign Affairs, Kuwait, Sameeh Essa Johar .

Energy security among top priorities amid global tensions, says govt

The government considers energy security to be among its "top priorities" and has taken all necessary steps to ensure access to affordable energy for people, Lok Sabha was informed on Friday. External Affairs Minister S Jaishankar in a written response to a query also said the government pursues a "multi-pronged strategy" that includes diversifying supply sources, enhancing domestic production of oil and gas, expanding the adoption of alternate energy sources and advancing the energy transition. He was asked details of the steps taken by the government to safeguard the country's strategic and energy interests amid global tension, and also whether the government has raised concerns with countries like the US regarding the "impact of sanctions" on India's petroleum imports from Russia and Iran. Last week, US President Donald Trump had announced 25 per cent reciprocal tariffs on India that came into effect from August 7. The US president on Wednesday also signed an executive order ...

Siemens Energy India Q3 results: Net profit surges 80% to ₹263 crore

Siemens Energy India on Monday posted an over 80 per cent rise in its net profit to Rs 263 crore in June quarter compared to a year ago, mainly on the back of higher revenues. It had a net profit of Rs 146 crore in the quarter ended June 2024, a company statement stated. The company follows the financial year from October to September. Revenues from operations rose to Rs 1,785 crore in the quarter from Rs 1,484 crore in the same period a year ago. New orders during the quarter rose to Rs 3,290 crore from Rs 1,693 crore recorded a year ago. The company explained that the new order growth was primarily due to large orders received during the quarter given the robust demand both in domestic as well as export markets. The company announced an investment of Rs 280 crore in a phased manner in manufacturing capacity expansion of high-voltage switchgear products at its Aurangabad factory. This expansion will enable the company to meet the growing demand for power transmission equipment,

NTPC Green looks to develop RE, battery storage projects in Bihar

State-owned NTPC Green Energy Limited has plans to set up renewable energy and battery energy storage projects (BESS) in Bihar, a move which will increase the company's portfolio and presence in the clean energy space. The company has signed a Memorandum of Understanding (MoU) with Bihar State Power Generation Company Limited (BSPGCL) to take forward its plans. The MoU with BSPGCL aims for development of Battery Energy Storage Projects and Renewable Energy Project for decarbonisation and energy transition in Bihar, NTPC Green Energy Limited (NGEL) said in a statement on Saturday. The agreement was signed between Sarit Maheswari, CEO (NGEL), and Abdesh Kumar Singh, Director Technical (BSPGCL), in the presence of Minister of Energy, Planning & Development of Government of Bihar Bijendra Prasad Yadav and other senior officials from the state government. NGEL is an umbrella company for the green business initiatives of NTPC and it undertakes projects through organic and inorganic ...

MoS Margherita holds talks with Eswatini energy minister Lonkhokhela

Union Minister of State for External Affairs Pabitra Margherita held talks with Prince Lonkhokhela, Minister of Natural Resources and Energy, Eswatini, on Saturday.The two held talks on increasing cooperation in the energy sector.In a post on X, Margherita said, "Glad to meet HRH Prince Lonkhokhela, Hon'ble Minister of Natural Resources & Energy, Kingdom of Eswatini. Discussed ways to increase cooperation in the energy sector."Earlier, in an attempt to increase energy cooperation, Minister of Natural Resources and Energy of the Kingdom of Eswatini, Senator Peter Bhembe, with a three-member delegation consisting of the Managing Director of Eswatini Electricity Company, Acting Chief Geologist and Chief Mining Engineer, visited Delhi, Kolkata and Ahmedabad to study iron and steel production units in India in November 2019.Earlier in the day, Margherita met Mandla Tshawuka, Minister of Agriculture of Eswatini.The two leaders held talks on enhancing relations in the agricultural ...

India's fuel demand declines 4.7% to 20.31 MMT in June, shows govt data

India is the world's third-largest consumer and importer of oil. The data is a proxy for the country's oil demand

Tech Talk: Schneider Electric MD & CEO on Powering India's AI-Driven, Energy-Smart Future

In this exclusive Tech Talk, Pranjal Sharma sits down with the MD & CEO of Schneider Electric India to explore how the company is powering an AI-driven, energy-smart future for the nation.

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