Page 6 - Solar Power

SJVN Q4 results: Consolidated net profit jump two-fold to Rs 61.08 crore

State-owned SJVN has reported over two-fold jump in consolidated profit to Rs 61.08 crore during the March quarter, on account of exceptional gains. The company reported a consolidated net profit of Rs 17.21 crore in the year-ago period, a BSE filing showed. The financial results of the company showed an exception gains of Rs 103.84 crore during the quarter. However, total income of the company dipped to Rs 573.23 crore in the quarter from Rs 582.78 crore in the same period a year ago. The consolidated net profit of the company in 2023-24 was at Rs 911.44 crore from Rs 1,359.30 crore in year ago. Total income in the fiscal also increased to Rs 2,876.96 crore from Rs 3,282.50 crore in 2022-23. The board of directors also approved a final dividend of Rs 0.65 per equity share for the 2023-24 fiscal year, subject to the approval of shareholders in the ensuing annual general meeting. The final dividend is in addition to the interim dividend of Rs 1.15 per equity share for FY24 declar

Severe solar storm brings dazzling Aurora, threatens to trigger blackouts

The last time a storm this strong struck Earth was in October 2003, which caused power outages in Sweden and damaged transformers in South Africa

Tata Power plans 66% higher capex at Rs 20k cr in FY25; to spend 50% on RE

Tata Power has planned a 66 per cent higher capital expenditure of Rs 20,000 crore in this fiscal compared to a year ago, which will mainly focus on projects supporting energy transition and India's net-zero emission target by 2070. During the year ended March 2024, the capex (capital expenditure) was around Rs 12,000 crore, the company's CEO Praveer Sinha said during a post earnings conference call. "This year we are targeting to spend around Rs 20,000 crore," he said in reply to a question on company's planned capex. Sharing the breakup of the investment plant, Sinha said about 50 per cent will be on renewables (projects). The remaining will be mix of transmission, distribution and conventional projects. The company will fund the capex through internal accruals and some debt, Sinha said. Tata Power on Wednesday posted an 11 per cent rise in its consolidated net profit to Rs 1,046 crore in the March 2024 quarter compared to the year-ago period, mainly on the back of higher ...

This SME stock has surged 100% in 1 month; zoomed 330% against IPO price

Shares of KP Green Energy (KPGE) locked in upper circuit for the fourth straight day, up 5 per cent at Rs 619.85 on the BSE on Tuesday at 12:50 pm; in otherwise a weak market.

Tech, human resource needed from China to kickstart solar PLI: Indosol

Indosol Solar Private Limited (ISPL) is an SPV formed by Shirdi Sai Electricals Limited (SSEL), which is a Telangana-based power equipment manufacturer

Gujarat Toolroom buys 65 acre land for Rs 570 crore hybrid energy project

Gujarat Toolroom on Thursday said it has acquired a 65-acre land parcel in Gujarat to set up a green energy project at an investment of Rs 572 crore. "Upon completion, the Hybrid Power Plant aims to contribute 97.5 megawatts of clean and sustainable electricity to the grid, the company said in an exchange filing. The company said it aims to set up the plant in 3-5 years. The company has acquired 65 acres of land on long-term lease in Gujarat for the establishment of Green Energy Hybrid Power Plant Project worth Rs 5.72 billion, it said. While 60 acres of the acquired land will be dedicated to the installation of solar panels, the remaining will be utlised for essential power management infrastructure, including transformer stations and high-voltage line terminals. The land layout plan includes provisions for the placement of 15 on-shore wind turbines. Each turbine is expected to produce 2.5 megawatts of power per hour. Ahmedabad-based Gujarat Toolroom is into manufacturing and ...

Microsoft, Brookfield to partner to develop new wind, solar farms

The agreement provides a pathway for Brookfield to deliver the new renewable energy capacity between 2026 and 2030 in the U.S. and Europe, a Microsoft spokesperson told Reuters

'At least $12 trn needed for tripling renewable energy capacity by 2030'

At least USD 12 trillion is required to create new infrastructure over the next six years for tripling global renewable energy capacity by 2030, COP28 President Sultan Al Jaber said on Friday. Addressing the annual Petersberg Climate Dialogue, Al Jaber said the energy transition will not happen without significant investment and a level-up in climate finance. He said the four key priorities to level up climate finance are infrastructure, technology, people and the Global South. "On infrastructure, we need to invest at least USD 6 trillion over the next six years to meet our 2030 target of 11TW of renewable energy capacity. And we need to spend a similar amount to upgrade outdated or non-existent grids," the COP28 president said. World leaders reached a historic agreement at COP28 in Dubai last year to triple global renewable energy capacity by 2030. According to the International Energy Agency, tripling global renewable energy capacity and doubling energy efficiency is crucial to

Amara Raja Infra bags 500 MW solar project from Greenko in Andhra Pradesh

Amara Raja Infra Pvt Ltd on Friday said it has secured a 700 MWp solar project from Greenko in Andhra Pradesh. With the latest win, the order book of Amara Raja Infra Private Limited (ARIPL) stands at Rs 1,516 crore at the end of FY24, the company said in a statement. "ARIPL has achieved a significant milestone in the renewable energy sector by securing a solar BoS project of 500 MW/700MWp from Greenko," it said. The project spans across an area of 2,200 acre site near Uyyalavada Town in Kurnool district of Andhra Pradesh. The work includes Engineering, Procurement and Construction (EPC) of the entire balance of system (BoS) for the 700 MWp (Megawatt peak) project, which is part of Greenko's Integrated Renewable Energy Project.

China solar industry faces challenges, but rock-bottom prices to persist

Overcapacity in China's solar industry is emblematic of the challenges facing the world's second-biggest economy

Tata Power Renewable Energy commissions 200 MW solar project in Rajasthan

Tata Power Renewable Energy Ltd on Monday said it has commissioned a 200 MW solar project in Bikaner, Rajasthan. The project is expected to generate around 485 million units of green energy annually offsetting over 3,88,000 tonnes of carbon footprints, Tata Power Renewable Energy Ltd (TPREL) said in a statement. Subsidiary TP Saurya Ltd (TPSL) has commissioned a 200 MW solar project located in Bikaner, Rajasthan, for Tata Power Trading Company Ltd (TPTCL). The project will be integrated into the Central Transmission Utility (CTU) Bus, ensuring efficient distribution of clean energy across the region, it said. The total renewables capacity of TPREL has reached 9,018 MW (PPA capacity is 7,632 MW), including 4,547 MW projects under various stages of implementation and operational capacity is 4,471 MW, which includes 3,444 MW solar and 1,027 MW wind. A subsidiary of Tata Power, TPREL is a developer of renewable energy projects, including solar, wind, hybrid, round-the-clock (RTC), peak

Delhi govt notifies solar policy, will provide 400 units per month subsidy

The Arvind Kejriwal government has notified Delhi Solar Policy, 2023, that will help the consumers with monthly use of over 400 units to get zero bills through rooftop solar plants, a statement on Saturday said. Under the policy, the consumers who do not get subsidy for using more than 400 units per month can now install rooftop solar panels and get zero bills. The power bills of commercial users will be halved if they go for rooftop plants, said the statement of Delhi government. Currently, domestic consumers receive zero bills up to 200 units monthly consumption while monthly consumption 50 percent subsidy is given for 201-400 units. The Delhi Solar Policy, 2023, was announced by Chief Minister Arvind Kejriwal on January 29. The Delhi government will spend Rs 570 crores towards the implementation of the policy, it said. It provides for generation-based incentives' to solar panel installers, allowing for additional earnings of up to Rs 900 per month. Expenses incurred for ...

More than 10 mn households registered under rooftop solar scheme: PM Modi

Prime Minister Narendra Modi on Saturday said more than one crore households have already registered under the rooftop solar scheme 'PM-Surya Ghar: Muft Bijli Yojana', and lauded it as "outstanding news". "Registrations have been pouring in from all parts of the nation. Assam, Bihar, Gujarat, Maharashtra, Odisha, Tamil Nadu and Uttar Pradesh have seen over 5 lakh regulations," he said in a post on 'X'. The prime minister also asked those who have not yet registered to do so at the earliest, noting that the initiative promises substantial reductions in electricity expenses for households along with ensuring energy production. "It's poised to encourage Lifestyle for Environment (LiFE) on a grand scale, contributing to a better planet," he said. The Union Cabinet, chaired by the prime minister, last month approved the scheme with a total outlay of Rs 75,021 crore for installing rooftop solar panels and providing free electricity up to 300 units every month for one crore households.

Open access solar capacity addition at record 3.2 GW during 2023: Report

India added a record 3.2 gigawatt of open access solar capacity during 2023, posting a 6.66 per cent rise supported by factors, including reduced module cost, according to a report. In its latest report, US-based research firm Mercom Capital said the open access solar capacity addition was 3 gigawatt (GW) during 2022. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. It is the record high open access solar capacity addition in a calendar year. The cumulative installed solar capacity in the open access segment stood at 12.2 GW as of December 2023, the 'Mercom India Solar Open Access Market Report' said. Open access solar is one of the bright spots in the country's solar market, attracting commercial enterprises and industrial units to shift towards solar and other clean energy sources, Raj Prabhu, CEO of Mercom Capital Group, said. "The potential cost savings for businesses are hard to igno

SJVN receives 1,352 MW solar energy projects worth Rs 7,436 crore

State-owned power producer SJVN arm SJVN Green Energy has secured 1,352 MW solar power projects, entailing an investment of Rs 7,436 crore. "SJVN has received Letter of Awards (LoA) for 1,352 MW Solar Power Projects to be developed through SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN," a company statement said. According to the statement, these LoAs have been received in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis, SJVN Director (Finance) Akhileshwar Singh and SGEL CEO Ajay Singh in Mumbai. SJVN Chairman and Managing Director Geeta Kapur informed that these projects of 1,352 MW will be developed at various locations in Maharashtra -- Nashik, Solapur, Ahmednagar and Pune under Mukhya Mantri Saur Krushi Vahini Yojana 2.0. The projects have been bagged by SGEL through a competitive bidding process in a tender floated by MSEB Agro Power Limited, Maharashtra. The total capacity of the tender was 7,000 MW and SGEL participated for 1,500 MW -- 5

Uttar Pradesh govt to rake in Rs 80K crore through solar energy push

The Yogi Adityanath government is planning installations of rooftop solar plants and solar parks to achieve this target

Adani Green operationlises additional 448 MW solar projects at Khavda

Adani Green Energy subsidiary Adani Green Energy Twenty Four B has operationalised an additional 448.95 MW solar power projects at Khavda in Gujarat. Together with earlier intimation dated February 14, 2024, an aggregate of 1,000 MW of solar power projects are operationalised at Khavda, Gujarat, a regulatory filing stated. According to the filing, Adani Green Energy Twenty Four A Ltd and Adani Green Energy Twenty Four B Ltd, wholly-owned step-down subsidiaries of Adani Green Energy Ltd (AGEL) have operationalised an incremental 448.95 MW of solar power projects at Khavda. With the operationalisation of these plants, AGEL's total operational renewable generation capacity has increased to 9,478 MW in its journey of 45 GW capacity by 2030. Based on the relevant clearances, it was decided at 11.49 pm on March 4, 2024, to operationalise the plants and commence the sale of power generated from March 5, 2024, the filing said. On February 14, 2024, the company informed that its arms A

Rays Power Infra bags 3 solar projects totalling 520 MW from PSUs

Renewable energy solutions provider Rays Power Infra on Monday said it has secured three solar projects totalling 520MWp capacity from two big central public sector firms and one from a global developer. The combined order value for these projects underlines the company's commitment to advancing sustainable energy solutions, a company statement said. According to the statement, Rays Power Infra Ltd announces the acquisition of three orders in its solar EPC (Engineering Procurement Construction) business totalling 520 MWp, two from a renowned CPSU (Central Public Sector Undertaking) and another from a global renewable energy developer. These orders marked the company's entry into the Gujarat and Assam markets. This also positions the company as one of the key EPC players in 14 States in India, it stated. The company has submitted multiple bids for solar EPC projects in India, Mauritius, Liberia, Bangladesh, and Sierra Leone, with a cumulative value exceeding Rs 3,400 crore, and ...

The evenings are hard

Mounting stress upon India's grid engineers

Cabinet approves Rs 75,021 crore rooftop solar scheme for 10 mn households

The Cabinet approved the PM-Surya Ghar Muft Bijli Yojana on Thursday, aiming to install rooftop solar panels in one crore households at a total cost of Rs. 75,021 crore