Page 8 - Power Sector

Stock market positive on Thermax despite profit margin decline in Q1

The industrial products segment is poised for double-digit growth driven by solutions for water treatment and air pollution

Data centres turn to renewable energy sources as power demand surges

Data centres procure electricity at commercial rates in a state, which usually falls within the highest power tariff slab

Around 337,900 MW power capacity likely to be added by 2032: MoS Power

A total of 3,37,900 MW power generation capacity is likely to be added in the country by 2032, Parliament was informed on Monday. About 2,14,237 megawatt (MW) of electricity generation capacity was added in the last ten years, Union Minister of State for Power Shripad Naik said in a reply to the Rajya Sabha. The total generation capacity increased by 79.5 per cent from 2,48,554 MW in March 2014 to 4,46,190 MW in June 2024, he said, adding that "the total anticipated capacity addition by 2032 will be 3,37,900 MW". Of the total anticipated capacity addition, 80,000 MW will be thermal, 25,010 MW hydropower, 14,300 MW nuclear and 50,760 MW of pump storage plants (PSP) capacity, the minister said. Further, 510 MW of small hydro capacity is expected to be added by 2032, besides 1,43,980 MW of solar power and 23,340 MW of wind power.

Record temperatures scorch eastern China, driving up power demand

In the east and northwest of China, temperatures as high as 43.9 degrees Celsius

Coal doesn't make sense in today's environment: Avaada group chairman

Mittal has raised $2.6 billion since 2023 from Canadian fund Brookfield and Thailand's state-run oil company PTT group, enabling him to participate and win several bids this year

Thermax Q1 results: Net profit jumps 82% to Rs 109 cr, revenue up 13%

Energy and environment solutions provider Thermax on Thursday posted an 82 per cent jump in its consolidated net profit to Rs 109 crore as against Rs 60 crore in the same period last year mainly due to higher revenues. The company reported consolidated operating revenue of Rs 2,184 crore in the first quarter of FY25, registering a 13 per cent increase compared to Rs 1,933 crore in the same quarter of the previous fiscal, according to a company statement. The order booking for the quarter stood at Rs 2,569 crore as against Rs 2,567 crore in the corresponding period a year ago. The board has approved an additional equity investment of USD 2.8 million in Thermax (Thailand) Limited, a step-down subsidiary of the company through Thermax Engineering Singapore Pte Ltd. (TESPL), a subsidiary of the company. The board has approved the issuance of a guarantee for an amount not exceeding USD 4 million on behalf of Thermax (Thailand) Limited. During the quarter, Thermax unveiled a manufacturi

Power Grid stock hits new high on strong outlook; zooms 53% so far in CY24

The company is actively exploring opportunities to undertake transmission projects on BOOM model for RE developers, distribution licensees, and bulk consumers with advanced discussions underway.

Budget 2024: No 'budget' for energy transition is a cause for concern

Withdrawing funds for the initiative to be taken up by oil refiners, who have lost their power to price fuels for the last few years, is a cause for concern

Coal India Q1 FY25 results: Net profit up 4.1% at Rs 10,959 crore

5 of Coal India's 7 subsidiaries met production targets in Q1, but none met offtake goals

Torrent Power Q1 result: Net profit up 88% at Rs Rs 972 cr on robust demand

Heatwaves and increasing economic activity have resulted in India's electricity generation growing at an average of about 8 per cent annually following the pandemic

NTPC stock soars 5%, market-cap crosses Rs 4 trillion; here's why

At 10:03 am; with Rs 3.96 trillion market cap NTPC stock was trading 3.6 per cent higher at Rs 408 on the BSE.

Power company CESC acquires 64% stake in Purvah Green Power for Rs 205 cr

Power company CESC Ltd on Monday said it has acquired 63.91 per cent equity shares in Purvah Green Power for Rs 205 crore. Post-acquisition, Purvah Green Power Private Limited (Purvah) will become its direct subsidiary, CESC said in a regulatory filing. "The company (CESC) has acquired today 63.91 per cent equity shares of Purvah Green Power Private Limited ("Purvah"), a wholly-owned subsidiary of Crescent Power Limited (a subsidiary of the company), thus making Purvah a direct subsidiary of CESC Ltd," it added. The cost of acquisition would be Rs 205 crore, the company said. "63.91 per cent of Purvah's shares were acquired by the company by subscribing to 20,50,00,000 equity shares of Rs 10 each for an aggregate consideration amounting to Rs 2,05,00,00,000," the filing said. CESC is into the generation, transmission, and distribution of electrical power.

Adani Energy Solutions likely to divest Dahanu unit to Adani Power

Last week, Adani Energy took an impairment of Rs 1,506 crore on the asset

Power Grid planning Rs 40,000 cr undersea interconnection with Middle East

State-run Power Grid is planning an undersea interconnection worth up to Rs 40,000 crore with countries in the Middle East, a top official said on Monday. After the soft June quarter, which witnessed revenues being almost flat, the company sees the topline inching by only 4-5 per cent in FY25, its chairman and managing director R K Tyagi told reporters here after the earnings announcement on Friday. The company plans to invest Rs 18,000 crore this fiscal year, which will help accelerate the growth rate going forward, Tyagi said, explaining that as projects become older, the earnings from transmission projects go down and the company has to keep commissioning new projects to have higher revenue growths. On the interconnected projects front, it is looking at companies beyond the immediate neighbourhood and will be looking at countries in the Middle East, Tyagi said. He specified that discussions are ongoing with Oman, Saudi Arabia and the UAE for the interconnection. The company has

India's power generation capacity rose to 4.46 GW in last decade: Govt

India's total installed power generation capacity has grown around 80 per cent over the last 10 years to 4,46,190 MW (4.46 GW) in June 2024, Parliament was informed on Monday. The installed capacity, which was 2,48,554 MW in March 2014, reached 4,46,190 MW in June, the Union Minister of State for Power Shripad Naik said. In a reply to the Rajya Sabha, he said the installed capacity of coal-based power has increased from 1,39,663 MW in March 2014 to 2,10,969 MW in June 2024. While the installed capacity of renewable sector has increased from 75,519 MW in March 2014 to 1,95,013 MW in June 2024, the minister added. The Government of India proposes to set up an additional minimum 80 GW coal-based capacity by 2031-32, Naik said. He further said 1,95,181 circuit kilometer (ckm) of transmission lines, 7,30,794 MVA of transformation capacity and 82,790 MW of inter-regional capacity have been added, connecting the whole country into one grid running on one frequency with the capability of

Rays Power Infra receives projects worth Rs 833 cr in June quarter

Rays Power Infra on Monday said it has secured new projects worth Rs 833 crore during the first quarter of the current fiscal. Rays Power Infra is a turnkey solar engineering, procurement and construction (EPC) services player. These projects add over 680 MW to the company's existing portfolio, according to a statement. The company acquired new projects valued at Rs 833 crore in the April-June quarter, it said in a statement. "Securing these projects is a significant step towards our quarterly targets and long-term goals. We remain committed to delivering high-quality projects and maintaining our growth momentum to achieve our ambitious targets," Pawan Sharma, Whole-Time Director of Rays Power Infra, said. The company did not provide any further details related to the projects.

Metal, power producers seek streamlined visa regime for Chinese experts

Domestic metal and power producers argue that many project-critical activities face setback due to visa approval delays faced by foreign experts, especially Chinese OEMs, contractors, and engineers

THDCIL overcame many challenges to become 4351 MW entity: CMD Vishnoi

THDC India Ltd (THDCIL) has overcome many challenges over the last 36 years to achieve significant milestones in energy sector, its CMD R K Vishnoi said. The official made the remarks while addressing around 1,700 employees of the company on Saturday at the 'Foundation Day' event of the Rishikesh-based entity. From a single hydro project company in 1988, today the company has a portfolio of nine projects (hydro, thermal, wind and solar), with a total capacity of 4351 MW. This includes 1587 operational projects and 2764 MW under- construction, Vishnoi said. "From the hardships to commission India's highest dam project of 1000 MW, the Tehri hydro power project, to a diversified energy portfolio entity, THDC India has overcome many challenges to achieve significant milestones since its establishment in 1988. Employees' unwavering dedication and perseverance have been crucial for the company's success and growth," he said. In his address, the CMD also said the company will soon be maki

India-Bangladesh relations reach at significant force multiplier stage

The relations of both the countries find expression in several areas such as sharing inland waterways and power

Saudi ups imports of dirtiest oil to meet rising power demand amid heatwave

Shipments of fuel oil rose in June to the most since at least the end of 2020, and are expected to remain elevated this month, according to data from market researchers Kpler and Vortexa