Page 29 - Renewable Energy

Hi-Tech Pipes bags Rs 100 cr pipe supply order; plans to raise Rs 600 cr

Hi-Tech Pipes on Tuesday said it bagged orders worth Rs 105 crore for supply of electric resistance welded steel pipes from customers in the renewable energy sector. The company also announced a plan to raise up to Rs 600 crore through issuance of equities. The supply orders will be executed from its new manufacturing facility located in Sanand, Gujarat over the next three months, the steel pipes maker said in a statement. The orders for supplying ERW (electric resistance welded) steel pipes, totalling Rs 105 crore, came from key customers in the renewable energy sector, according to the statement. "The steel pipes will be utilized in various applications within the renewable energy sector, including wind farms, solar installations, and other green energy projects," it said. In a separate statement, the company said its board has approved a plan to raise up to Rs 600 crore though equity issues. The fund raising plan has been approved "by way of issue of equity shares or any other

Goa to be permanent venue for annual India Energy Week: CM Sawant

Goa Chief Minister Pramod Sawant on Thursday announced that the coastal state would serve as the permanent venue for the annual India Energy Week (IEW). Addressing the state on the occasion of 78th Independence Day, he said the Oil and Natural Gas Commission (ONGC) has decided to host the annual IEWs in Goa permanently. Sawant also said his government was dedicated to creating a bright future for the state in the fields of green economy and blue economy. While the term 'green economy' refers to the economic system that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development, 'blue economy' or the ocean economy, is a term used to describe the economic activities associated with the oceans and seas. "We have successfully conducted international events like Ironman, G20 and India Energy Week. ONGC has decided to host IEW permanently in Goa every year," he said. Hosting events like the IEW helps the state's economy, he said. The IEW .

ONGC, JSW, Sembcorp shortlisted for majority stake in $800 mn Ayana deal

Ayana Renewable Power, backed by NIIF manages a 5 GW portfolio of operational and under-construction projects. The company is open to sell up to 100% of its stake

PMSY scheme: Districts set to compete for model solar village funds

Centre rolls out guidelines under PM Surya Ghar Yojana with grant of Rs 1 crore per village

JSW Energy secures contract from SECI for 230 MW renewable energy supply

JSW Energy on Thursday said its arm received a letter of award from Solar Energy Corporation of India (SECI) for supply of 230 MW of power from its renewable energy project. The energy supply order has been secured by wholly-owned subsidiary JSW Neo Energy Limited, JSW Energy said, adding that the company received the letter of award following a tariff-based competitive bidding process. Bids were invited for supply of 630 MW of firm and dispatchable power from an inter state transmission system or ISTS-connected renewable energy project SECI-FDRE-IV, JSW Energy said in an exchange filing. With the latest contract, the company's total locked-in generation capacity has increased to 16.4 GW, which includes a hybrid capacity of 2.3 GW, including FDRE (firm and dispatchable renewable energy). The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently.

ADB, World Bank's IFC, DEG pump $275 million into Fourth Partner Energy

Largest equity deal by 3 investors in Indian RE sector

Suzlon buys majority stake in Renom to strengthen renewable energy services

Renom currently manages 1,782 megawatts (MW) in wind, 148 MW in solar, and 572 MW in balance of plant energy (BOP) under maintenance

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

Sunkind Energy secures 20 MW solar projects in Punjab, Maharashtra

Clean energy company Sunkind Energy on Monday said it has secured new solar power projects totalling around 20 megawatts (MW). The contracts have been awarded by Nahar Group and Jindal Group, the company said in a statement. For Nahar Group, the company said it will set up a capacity of 7.3 MW in Ludhiana, Punjab, for captive purposes and a 19.6 MW captive solar project for Jindal Group in Nashik, Maharashtra. Both projects will be set up in engineering, procurement and construction (EPC) mode. The company aims to complete these contracts by September 2024, Sunkind Energy founder and CEO Hanish Gupta said. The company did not provide any financial details of the project. As per industry estimates, 1 MW of solar projects involves an investment of around Rs 5-7 crore, including land cost. Gurugram-based Sunkind Energy is a leading EPC solar company in the country, having a total orderbook of 52 MW solar projects under various stages of implementation.

Electricity: A strategic view

Heavy lifting is now required in electricity and financial reforms

Despite new coal plants, India will face more power cuts by 2027: Research

India's power crisis: To avert a looming power shortage, India must accelerate efforts to boost renewable energy capacity, warns new research

Hitachi Energy India Q1 results: Net profit jumps four-times to Rs 10.4 cr

Hitachi Energy India on Wednesday posted four-fold jump in net profit to Rs 10.4 crore for June quarter FY25 mainly due to higher revenues. The company had reported a net profit of Rs 2.4 crore for the year-ago period, it said in a BSE filing. Revenues rose to Rs 1,327.3 crore from Rs 1,043 crore. "As the energy transition gathers pace, investments in the power sector - especially renewables continued to grow," said N Venu, MD & CEO of Hitachi Energy India. This is reflected in the company's strong order intake and record order backlog which it is steadily converting to revenues through solid execution while keeping a close watch on costs. "We are optimistic on ongoing market support, especially in our identified high growth segments - renewables, HVDC, data centers, electrification of transport, etc," he added. In June quarter, orders totalled Rs 2,436.7 crore, more than double as compared to the year-ago period. Renewables led the charge from studies across utilities and ...

Renewable energy sector to get Rs 30.5 trn investments by 2030: Eco Survey

Mobilization of finance as well as investment on competitive terms and resolution of land acquisition issues are necessary for realising Rs 30.5 lakh crore investment required for meeting the target of having 500GW renewable energy in India by 2030, according to the Economic Survey. The Economic Survey 2023-24 tabled in Parliament on Monday the Renewable Energy (RE) sector is expected to attract investments of about Rs 30.5 lakh crore in India between 2024 and 2030. According to the Survey, this would create significant economic opportunities across the value chain. The clean energy sector in India saw new investments of Rs 8.5 lakh crore (USD 102.4 billion) between 2014 and 2023, it said, adding that the RE sector received about USD 17.88 billion as FDI from April 2000 until March 2024. On mobilization of necessary finance and investments on competitive terms for the RE sector, the Survey pointed towards gearing up the banking sector for arranging finances for larger deployment ..

How 'islands of energy' could help Israel build wartime resilience

Israel's energy transition plan has been in the works for years but took on greater urgency when war broke out on several fronts

Centre plans to push for more renewable energy connectivity in states

As more transmission projects come at the intra-state level, the Centre is hoping it will bolster private investment in state power infrastructure

SECI plans 500 MW solar thermal capacity tender by FY25-end: CMD

SECI, a nodal agency for implementing government's renewable energy projects, is expected to float a tender for 500 megawatt (MW) of solar thermal capacity by the end of FY25, its Chairman and Managing Director R P Gupta said on Wednesday. This will be the first time in India that such a tender would be floated on this scale, Gupta told reporters on the sidelines of the India Energy Storage Week 2024, organised by India Energy Storage Alliance (IESA) here. "The tender is expected to be out by the end of this financial year 2024-25. There have been (solar thermal) tenders but not of this scale," Gupta said in reply to a question on new solar thermal tenders. The earlier tenders were small in size and their costs were also too high, he said. The projects under the 500-MW tender will have advanced technology where steam would be generated through heat and it would also help in running turbines, he added. Besides, the prices will be at par with other Round the Clock (RTC) solutions, G

Reliance Industries set to invest $60 bn in 10 years: Morgan Stanley report

India cos announce large investments in renewables, energy transition

The complexity of green transition

Inaction on generating new revenue as fossil fuel taxes dry up will harm India's economic prospects

Ireda loan grows to Rs 9,136 cr in April-June; disbursements rose by 67.6%

Public sector non-banking financial company IREDA on Monday said it posted manifold growth in its sanctioned loan to Rs 9,136 crore during April-June FY25. Loan disbursements also rose 67.61 per cent to Rs 5,320 crore in the period under review from Rs 3,174 crore in the year-ago period. The total loan book outstanding as of June 30, 2024 was at Rs 63,150 crore, up 33.77 per cent over Rs 47,207 crore in April-June FY24, IREDA said in a statement. Pradip Kumar Das, CMD, IREDA, said: "The first quarter underscores our commitment to accelerating the deployment of renewable energy solutions in India. The substantial increase in loan sanctions and disbursements reflects our proactive approach in supporting projects that contribute to India's renewable energy goals." Indian Renewable Energy Development Agency (IREDA), under the Ministry of New and Renewable Energy, has been engaged in promoting, developing and extending financial assistance for setting up projects related to new and ...

China stops providing data that showed dip in renewable power plant usage

The report did not give a reason for the change and China's energy administration did not immediately respond to a request for comment