Page 13 - Power Sector

Climate side of AI: Its thirst for energy is massive

As GenAI comes to mobile phones, the energy needed to generate photos and videos will be immense. Alongside are data centres which consume energy too for storing information

Power consumption grows 7.5% to 1354.97 bn units in FY23-24 from Apr-Jan

India's power consumption increased 7.5 per cent on-year to 1354.97 billion units (BU) in the April-January period of this financial year, indicating an uptick in economic activities across the country. Power consumption in the country has increased to 1354.97 billion units (BU) in the April-January period of this financial year, from 1259.49 BU in the April-January period of fiscal 2022-23, according to government data. It was 1505.91 BU in the entire fiscal year of 2022-23, the data showed. Experts believe the 7.5 per cent growth in power consumption in the country clearly shows a perk up in economic activities in the first 10 months of this fiscal year. They said power consumption grew in August, September and October, mainly due to humid weather conditions, and a pick-up in industrial activities ahead of the festive season. Experts are predicting a steady power consumption growth due to improvement in economic activities and cold wave conditions in February. They are of the vi

Govt is mulling listing of PSEs' green energy arms, says Dipam secretary

There is a lot of opportunity for subsidiary units of some of our important companies to come to the market, said Pandey

RECPDCL hands over Pachora Power Transmission SPV to GR Infraprojects

State-owned REC on Thursday said its arm RECPDCL has handed over Pachora Power Transmission SPV to GR Infraprojects. The SPV was formed for the establishment of the Interstate Transmission Project for evacuation of power from renewable energy (RE) projects in Rajgarh (1,000 MW) SEZ in Madhya Pradesh-phase II through a tariff-based competitive bidding process, REC said in a statement. The special purpose vehicle (SPV) Pachora Power Transmission was handed over to the successful bidder GR Infraprojects in the presence of senior officials from RECPDCL. Additionally, representatives from the Central Transmission Utility of India Limited (CTUIL) and other key stakeholders attended the event, it said. RECPDCL, a wholly-owned subsidiary of REC Limited, has been acting as bid process coordinator (BPC) for tariff-based competitive bidding (TBCB) in transmission line projects and RE-bundling projects. Under the Ministry of Power, REC Limited is a non-banking finance company (NBFC), and ...

PTC Q3 results: Net profit slips 7% to Rs 97 cr, income up at Rs 3,483 cr

Power trading solutions provider PTC India on Wednesday reported over 7 per cent fall in its consolidated net profit to Rs 97.04 crore for the December 2023 quarter, impacted by higher expenses. It had clocked a net profit of Rs 104.48 crore in the year-ago period, the company said in an exchange. The company's total income, however, increased to Rs 3,483.93 crore from Rs 3,146.91 crore a year ago. Its expenses surged to Rs 3,353.09 crore from Rs 3,003.86 crore in the third quarter last fiscal. PTC India Ltd, a government of India initiative, is the pioneer in starting a power market in India. The company has maintained its leadership position in power trading since its inception. The trading activities involve long-term trading of power generated from large power projects, including renewables and short-term trading arising as a result of supply and demand mismatches. In a separate statement, its CMD Rajib K Mishra said, "The 9 months of FY24 have witnessed a 5 per cent increase

BHEL bags order to set up 800 MW thermal power plant from Haryana

State-owned BHEL on Wednesday said it has bagged an order to set up an 800 MW ultra-supercritical thermal power plant at Yamunanagar in Haryana. The 800 MW Deenbandhu Chhotu Ram Thermal Power Plant (DCRTPP) will be Haryana's first ultra-supercritical technology-based power project, Bharat Heavy Electricals Limited (BHEL) said in a statement. "Under International Competitive Bidding (ICB), BHEL has won an order for setting up an 800 MW Ultra-supercritical thermal power plant on engineering, procurement and construction (EPC) basis, at Yamunanagar, Haryana, from HPGCL (Haryana Power Generation Corporation Ltd.)," the company said. On commissioning, this plant will offer more efficient parameters and consume less coal in comparison to the existing subcritical units in the state. The proposed 800 MW unit shall be established adjacent to the existing 2x300 MW units, currently operational at Yamunanagar, it said. BHEL said it has executed central and state thermal utility projects of ove

Power Mech Projects Q3 results: Net profit rises 22% to Rs 62 crore

Power Mech Projects Ltd on Tuesday posted a 22.5 per cent rise in consolidated net profit to Rs 62 crore for the quarter ended December 2023, aided by higher income. It had reported a net profit of Rs 50.6 crore in the October-December period of the preceding financial year, the company said in an exchange filing. Its total income rose to Rs 1,114.9 crore from Rs 912 crore a year ago. Expenses stood at Rs 1,008.2 crore against Rs 840.9 crore in the third quarter of the last fiscal. Hyderabad-based Power Mech Projects is one of the leading infrastructure-construction companies providing a spectrum of services in the power and infrastructure sectors.

Hartek Power secures substantial Rs 113 crore order from state-owned SJVN

Hartek Power on Tuesday said it has bagged an order of Rs 113 crore from state-owned SJVN in Jamui, Bihar. The project entails developing, implementing, and maintaining a 75 MW (AC) grid-connected solar PV power plant, along with a 132 kV sub-station, Hartek Power said in a statement. The scope of work also includes land development, design, engineering, equipment procurement, testing at the manufacturer's works, packing, forwarding, and transportation, the company said. "Our expertise and dedication will ensure the successful implementation and seamless operation of the 75MW solar project in Jamui," Sanjeev Gupta, CEO of Hartek Power, said. Hartek Power, the power infrastructure arm of Hartek Group, is one of the leading EPC companies in India in the power system sector.

Tata Power stock likely to remain subdued in near-term; here's why

The company is focussed on tapping the market for high-margin captive renewables opportunities, exploring brownfield pumped hydro storage, and expanding the transmission business beyond distribution

UP info commission issues arrest warrant as power dept 'ignores' RTI query

The Uttar Pradesh Information Commission has issued an arrest warrant against four power department officials for ignoring an RTI query related to a Rs 2.24-lakh bill against a connection issued in 1911, and also disobeying the panel's summonses, officials have said. The arrest warrant was issued recently against Superintending Engineer Anil Verma, Executive Engineer R K Gautam, Sub Divisional Officer Sarvesh Yadav and Sub Divisional Officer Ravi Anand. State Information Commissioner Ajaya Kumar Uprety said the warrant was issued under section 18 (3) of the Right to Information Act and powers given in the CPC (Civil Procedure Code) 1908. "This is the first time the UP state information commission has initiated such a strong penal action against erring officials ever since the RTI Act came into existence in 2005," State Information Commissioner Ajaya Kumar Uprety told PTI. prety has asked Kashi zone Deputy Commissioner of Police Pramod Kumar to produce these officials before the ...

Seychelles to work with India on joint biofuels project, says minister

While Seychelles joined the India-led Global Biofuel Alliance last year, it has yet to begin using the alternative fuel

Oil India seeking foreign technology partner for first offshore foray

Global companies like ExxonMobil, Equinor and Baker Hughes are being considered

India Energy Week 2024: OVL likely to lift more crude from Venezuela

Discussions underway to inject more investments into both of OVL's projects in Venezuela

Power Finance Corporation Q3 result: Net profit rises 20% to Rs 6,294 crore

State-owned Power Finance Corporation on Thursday said it has posted an over 20 per cent rise in its consolidated net profit to Rs 6,294.44 crore in the December quarter, on the back of higher revenues. The company's consolidated net profit was Rs 5,241.10 crore in the quarter ended on December 31, 2022, according to a BSE filing. Total income in the quarter rose to Rs 23,593.40 crore from Rs 19,662.65 crore in the same period a year ago. The board, in its meeting on Thursday, approved the declaration of a second interim dividend at the rate of 35 per cent, of Rs 3.50 per equity share, subject to deduction of TDS, on the face value of the paid-up equity shares of Rs 10 each for FY 2023-24. The date of payment /dispatch of the interim dividend shall be on or before March 9, 2024, the filing said. In a separate statement, the company said it has registered a 19 per cent rise in consolidated loan asset book from Rs 8,04,526 crore as on December 31, 2022, to Rs 9,54,483 crore as on ..

PM Narendra Modi to inaugurate India Energy Week in Goa on February 6

Energy Ministers from 17 nations to discuss energy issues at India Energy Week

GE T&D Q3 results: Net profit jumps 49% to Rs 49.4 cr, revenue up 8%

GE T&D India on Monday posted a steep rise in net profit to Rs 49.4 crore in the December quarter mainly on the back of higher revenues. The company posted an 8 per cent rise in revenue to Rs 840 crore in the quarter, the company said in a release. Profit After Tax was at Rs 49.40 crore, against Rs 4.7 crore in the Quarter Ended (QE) December 2022, the company said. The order bookings were Rs 2,370 crore, up 204 per cent compared to Rs 780 crore in Quarter Ended (QE) December 2022. Sandeep Zanzaria, Managing Director & CEO of GE T&D India said in the statement, "As the pace of global energy transition accelerates with India spearheading the shift, our Q3 order book reflected a surge in demand - both in terms of domestic and exports. This, combined with our unwavering focus on optimization and strong order execution paved the way for improvement in profitability and the company becoming debt-free." GE T&D India is a leading player in the power transmission and ...

Reliance Power Q3 results: Net loss rises to Rs 1,136.7 cr on high expenses

Reliance Power Ltd on Saturday reported widening of its consolidated net loss to Rs 1,136.75 crore during the quarter ended December 2023, due to increased expenses. It had posted a net loss of Rs 291.54 crore during the October-December period of preceding 2022-23 financial year, the company said in an exchange filing. The company's total income increased marginally to Rs 2,001.54 crore in the reporting quarter compared to Rs 1,936.29 crore in the year-ago quarter. The company's expenses surged to Rs 3,179.08 crore in the quarter from Rs 2,126.33 crore a year ago. Reliance Power is the country's leading private sector power generation and coal resources company.

Power PSUs to implement PM Suryodaya Yojana: Power minister R K Singh

He said subsidy under PMSY would be 60% of the total project cost and the balance would be the loan

TD Power Systems Q3 results: Net profit rises 49% to Rs 29.89 crore

TD Power Systems on Thursday posted a nearly 49 per cent rise in its consolidated net profit to Rs 29.89 crore in the December quarter, on the back of higher revenues. Its consolidated net profit was Rs 20.07 crore in the quarter ended on December 31, 2022, according to a regulatory filing. Total income rose to Rs 247.92 crore in the quarter from Rs 205.65 crore in the same period a year ago. The company's board has appointed Rahul Matthan and Karl Olof Alexander Olsson as additional directors in the capacity of its non-executive Independent Directors for a term of 5 years, with effect from April 1, 2024, the filing said. The appointment is subject to the approval of the shareholders, it added.

Power consumption rises nearly 6% to 133.83 billion units in January

India's power consumption grew nearly six per cent to 133.83 Billion Units (BU) in January 2024 as compared to the year-ago period, according to government data. In January 2023, power consumption stood at 126.30 BU, higher than 111.80 BU recorded in the same month a year ago, the data showed. The peak power demand met -- the highest supply in a day -- rose to 222.32 GW in January 2024. The peak power supply stood at 210.72 GW in January 2023 and 192.18 GW in January 2022. Experts said that power consumption as well as demand improved in January as mercury fell sharply in the month, especially in North India. The cold wave resulted in increased use of heating equipment like heaters, blowers and geysers which led to increase of power demand as well as consumption. The power ministry had estimated the country's electricity demand to touch 229 GW during the summer in 2023. The demand did not reach the projected level in April-July due to unseasonal rains. The peak supply, however,