Page 9 - Power Sector

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

Power sector Budget wish list: Funds for green energy, more domestic mfg

Sector executives are expecting a relook of GST rates across the renewable energy supply chain, and viability gap funding for newer sectors

REC, PFC rally up to 4%, at new high in weak market; zoom over 200% in 1 yr

CRISIL Ratings believes REC will continue to benefit from government support, given its strategic role in the implementation of the government's power sector initiatives.

Rajasthan plans 30 Gw solar power by FY25-end; aims to become self-reliant

Rajasthan is one of the leading states in the country in solar energy production, with an estimated output of 142 Gw

Power shares in demand; Adani, Torrent, CESC rally up to 10% on July 9

Analysts expects the new power minister to continue focusing on infrastructure upgrades, transformer replacements and improving the financial condition of power discoms

Thermax Babcock bags order worth Rs 513 cr to supply 2 boilers in Botswana

Thermax Babcock & Wilcox Energy Solutions on Friday said it has bagged a Rs 513-crore order from a leading industrial conglomerate to supply two boilers for an energy project in Botswana, Southern Africa. The company will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers over a period of 23 months, according to a company statement. Thermax Babcock & Wilcox Energy Solutions Ltd (TBWES), a wholly owned subsidiary of Thermax, has concluded an order of Rs 513 crore from a leading industrial conglomerate, setting up a 600 MW greenfield energy project in Botswana, Southern Africa, the statement said. This order will support the development of the first phase i.e. the 300 MW power station being established by the customer. The designing, engineering, manufacturing, testing, supply, supervision of erection & commissioning, and performance testing will be undertaken by TBWES. The power generated is intended for sale to the national utility power company for ...

India's power demand surge may require national electricity plan revision

India faces unprecedented surge in power demand with its peak expected to reach 260 GW by September or October this year

Power equations

Proactive focus on thermal power needs a rethink

T'gana HC dismisses KCR's plea against probe in power sector irregularities

In a setback to former Chief Minister K Chandrasekhar Rao, the Telangana High Court on Monday dismissed a writ petition filed by him seeking declaring the constitution of a Commission of Inquiry to go into alleged irregularities in the power sector during the previous BRS rule as illegal. A bench comprising Chief Justice Alok Aradhe and Anil Kumar Jukanti dismissed the petition filed by Rao. In his plea, the former chief minister sought to declare the Government Order issued by the Telangana government constituting the Commission of Inquiry to conduct a judicial enquiry on the correctness and propriety of the decisions taken by the then government on procurement of power from Chhattisgarh by Telangana power distribution companies and construction of Bhadradri Thermal Power Plant at Manuguru and Yadadri Thermal Plant at Damarcherla by TS GENCO as illegal. Rao, also known as KCR, sought the continuation of Justice (retd) L Narasimha Reddy as the head of the commission to conduct an ..

JSW Energy inks power purchase agreements for 1,325 MW renewable projects

JSW Energy on Wednesday said that it has inked power purchase agreements through its subsidiaries for wind and solar projects with a cumulative capacity of 1,325 MW. This includes 1,025 MW with Solar Energy Corporation of India Ltd (SECI) and 300 MW with Gujarat Urja Vikas Nigam Ltd (GUVNL), bringing the total locked-in capacity of the company to 13.6 GW, a company statement said. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said in the statement, "PPAs collectively account for 36 per cent of our pipeline capacity and would enable us to fast-track our growth targets of achieving 20 GW capacity before 2030.