Page 17 - Power Sector

India need subsidies to meet renewable energy targets: Energy Vault exec

Renewable electricity available at any time of the day and night "is sort of a holy grail," Piconi said. "It's not achievable with the current technologies, because they are not economical."

Discoms propose asset monetisation to charge up working capital needs

The move comes at a time when states are facing record power demand

Assam govt approves Rs 5,197 cr project for power sector modernisation

The Assam government on Saturday approved a Rs 5,197-crore project to modernise the power distribution infrastructure across the state. The detailed project report for the implementation of the distribution infrastructure work in the power sector got a cabinet nod during the day in its meeting chaired by Chief Minister Himanta Biswa Sarma. "Total DPR cost for modernisation and system augmentation works is estimated to be Rs 5,196.91 crore," a cabinet communique shared by Sarma on X said. The project for modernising the power distribution system of Assam will be implemented under the Union government's Revamped Distribution Sector Scheme. The cabinet note also said, "The project is targetted to be completed by March 31, 2026 and will benefit approximately 67 lakh electrical consumers across the state." The council of ministers also decided that a power purchase agreement would be executed for 100 MW at rates offered by Solar Energy Corporation of India (SECI), enabling Assam to pro

UK firm secures lucrative order to supply Indian solar facility in Gujarat

A small cleantech firm in south-east England has secured a GBP 4 million order to supply its technology to a projected 2.0-gigawatt solar facility in Mundra, Gujarat, according to a top company official. Gas Recovery and Recycle Limited (GR2L), an MSME (micro small and medium enterprise) business in Surrey, claims to have developed, patented and exported cutting-edge technology to reduce the energy consumption, carbon footprint and cost of manufacturing solar panels. It was backed by UK Export Finance (UKEF), the UK government's export credit agency, with a GBP 475,000 guarantee issued under its Bond Support Scheme that helped secure the Indian order. Building on our existing export successes, support from Lloyds Banks and UKEF helped us to secure this latest growth opportunity and further develop our established international presence. I look forward to commissioning our machinery by the end of 2023, said Rob Grant, CEO and founder of GR2L. With production of brand-new argon creati

India may add up to 30 GW more thermal power capacity, says R K Singh

Union Power Minister R K Singh on Friday said that India may add 25 GW to 30 GW thermal electricity generation capacity in addition to 50 GW already under works to meet the rising demand. Addressing at a CII conference, Singh said that India has around 25 GW of thermal capacity under construction and another 25 GW is planned. He pointed out that India is growing at a rapid pace and electricity demand is rising very fast, which needs to be met. He stated that the country may add another 25 GW to 30 GW of thermal power capacity to meet the demand. Power demand in the country has already touched a record high of 241 GW early this month.

GMR Power wins new contract for smart meters; stock hits 10% upper limit

Earlier on September 3, GMR Group had received Letter of Award (LOA) worth Rs 5,123 crore for smart metering project from Purvanchal Vidyut Vitran Nigam Limited.

Torrent promoters may pledge stake in power arm to fund Cipla buy

Torrent's promoters own a 53.6 per cent stake in Torrent Power, valued at Rs 18,643 crore as of Friday, which remains a crucial avenue for raising funds for the Mehtas

Power related stocks in demand; NTPC, PFC, REC, Tata Power rally up to 9%

The power sector in India, is on course for a long period of high growth and transformation which is visible in the increasing deployment of clean renewables.

Jakson Green order book reaches Rs 5,000 cr within a year of inception

Energy transition platform Jakson Green on Thursday said it has achieved an order book of Rs 5,000 crore renewable order book within a year of its inception. "Jakson Green, a new energy transition platform backed by India-based infrastructure and renewables conglomerate, Jakson Group, proudly announces its monumental achievement of amassing a renewable EPC order book of around Rs 5,000 crore within a year of inception," the company said in a statement. This extraordinary feat was recognised through a series of recent order victories in India, GCC, West Africa and CIS region, marking an unprecedented milestone in a remarkably short timeframe, it added. The company's ascent to this substantial order book has been driven by its success in securing pivotal utility-scale renewable EPC projects in West Africa, GCC and CIS countries, alongside a substantial array of renewable EPC contracts in India. Jakson Green recently inked significant deals with leading renewable energy developers to

Dividend fund managers plug into power stocks as outlook improves

Improving outlook stokes optimism of higher payouts

SJVN hits new high, up 5% on securing new orders

The stock has rallied over 90 per cent so far in FY24 on the back of strong order inflows.

Stocks to Watch today, Aug 18: Concord, Adani Group, JSW Steel, EKI Energy

Stocks to watch on August 18, 2023: The Rekha Jhunjhunwala backed IPO, Concord Biotech, is set to debut on the bourses today at 10-15 per cent premium to its issue price.

Genus Power Infrastructures arm bags order worth Rs 2,209.8 crore

Genus Power Infrastructures on Tuesday said its subsidiary has bagged a Rs 2,209.84-crore order for supply and installation of 21.77 lakh smart pre-paid electricity meters. The company has received a letter of award (LOA) of Rs 2,209.84 crore (net of tax) for the appointment of advanced metering infrastructure service provider. This includes the design of the advanced metering infrastructure, supply, installation and commissioning of 21.77 lakh prepaid smart meters on design, build, finance, own, operate, transfer (DBFOOT) basis under revamped distribution sector scheme (RDSS), a company statement said. "Post this order inflow, our total order book stands in excess of Rs 8,200 crore (net of tax). Many state electricity boards have initiated the process of inviting bids for the deployment of smart meters, which serves as a testament to the positive impact of the 'reforms-based, result-linked power distribution sector scheme'," it stated. Based on our analysis, the company anticipate

Adani Power Q1FY24 results: Net profit up 83.3% YoY, revenue rises 16%

During the quarter, Adani Power achieved an average consolidated plant load factor of 60.1 per cent and sales of 17.5 billion units on an installed capacity of 15,250 MW

NTPC, Adani Power: Power stocks may surge up to 12% on robust trend

So far this year, NTPC has soared 36 per cent, Torrent Power zoomed 39 per cent and Power Grid Corporation of India advanced 21 per cent. Overall trend in these power stocks continues to remain sturdy

Tata Power surges 10% in 3 days on positive outlook; stock nears 52-wk high

The base and peak demand is expected to maintain growth at above long-term trajectory during FY24 driven by higher industrial and commercial activities, digitalization and electric transportation.

NTPC consolidated net profit rises 23% to Rs 4,907 cr in June quarter

State-owned power giant NTPC on Saturday posted over 23 per cent rise in consolidated net profit at Rs 4,907.13 crore for June quarter 2023-24. In the year-ago period, net profit was Rs 3,977.77 crore, NTPC said in a BSE filing. Total revenue from operations dipped slightly to Rs 43,390.02 crore from Rs 43,560.72 crore in the same period a year ago. "NTPC Group generated 103.98 Billion Units in Q1 FY24 as compared to 104.42 Billion Units in Q1 FY23. NTPC's standalone gross generation in Q1 FY24 is 88.55 Billion Units as compared to 90.49 Billion Units in the corresponding previous period," it said. NTPC coal stations achieved a plant load factor (capacity utilisation) of 77.43 per cent as against the national average of 70.38 per cent during Q1 FY24. On a standalone basis, total income of NTPC in Q1 FY24 was Rs 39,681 crore as against Rs 40,726 crore earlier. Profit After Tax (PAT) on standalone basis was Rs 4,066 crore as against Rs 3,717 crore in Q1 FY23, registering an incre

Larsen & Toubro bags orders up to Rs 2,500 crore in India, abroad

Larsen and Toubro (L&T) on Tuesday said it has bagged orders in the range of Rs 1,000 crore to Rs 2,500 crore in the power transmission and distribution segments within the country and abroad. New orders have been secured in India and markets abroad, the infrastructure major said in a regulatory filing. Its arm "L&T Construction wins significant orders for its power transmission and distribution business", the company said. On the domestic front, the business has won an order to implement SCADA/DMS and related IT infrastructure for urban area power distribution systems in central Gujarat. Another order is for building a 400kV double circuit transmission line in Jharkhand. In the Middle East, the company has received an order for the construction of a High Voltage Direct Current (HVDC) transmission segment. This link is part of a large capacity Voltage Source Converter (VSC) based HVDC system that connects Neom Industrial City and Yanbu city in western Saudi Arabia. In the ...

SJVN hits new high on strong order inflows; stock surges 37% in one week

Government of Arunachal Pradesh has allotted five projects totalling 5.097 MW to the SJVN.

Power, infra, fertilsiers: How centre is incentivising states for reforms

Fund transfer linked to them meeting certain benchmarks in improving sectors