Page 4 - Wind Energy

Inox Wind bags repeat order for 210 MW project from Hero Future Energies

Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd's state-of-the-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises equipment supply with certain add-on services, according to the statement. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India. Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces the confidence in our 3MW WTGs, being one of the most efficient turbines in its class. The addition of this order further re-emphasises our growth outlook.

Juniper Green commissions 25.2 MW capacity of its 70 MW wind energy project

Delhi-NCR based Juniper Green Energy on Tuesday announced commissioning of 25.2 MW capacity of its 70-MW wind power project. The project has been commissioned almost nine months before the scheduled commercial date of operation, the company said in a statement. The operational 25.2 MW is part of the project's progressive rollout, it said. This project will deliver power under a 25-year Power Purchase Agreement (PPA) with GUVNL at a tariff of Rs 2.90, aligning with efforts to provide cost-effective and environmentally responsible energy solutions, as per the statement. The project is expected to produce around 230 MUs (million units) of electricity per year, aiding in Gujarat's renewable energy efforts and reducing carbon emissions by an estimated 2,13,055 tonnes annually. The initiative will supply power to about 45,440 households, showcasing Juniper Green Energy's role in promoting renewable energy adoption. Juniper Green Energy CEO Naresh Mansukhani said, "I am immensely proud

Adani Green Energy operationalises 126 MW wind power plant in Gujarat

Adani Green Energy on Thursday said it has operationalised the 126 MW capacity of a 300 MW wind power project in Gujarat. The 174 MW capacity was operationalised earlier. The project will produce 1,091 million electricity units, leading to a reduction of approximately 0.8 million tonnes of CO2 emissions annually, according to a statement. "Adani Wind Energy Kutchh Four Limited (AWEK4L), wholly-owned subsidiary of Adani Green Energy Limited (AGEL) has operationalised an incremental 126 MW of merchant wind power project in Gujarat," the company said in a regulatory filing. With the operationalisation of the project, AGEL continues to strengthen its market leadership, operating India's largest renewable energy portfolio of 9,604 MW. Together with 174 MW operationalised earlier, an aggregate project capacity of 300 MW of wind power project is operationalised by AWEK4L, it stated. AGEL develops, owns, and operates utility-scale grid-connected solar, wind and hybrid renewable power ...

After up to 595% rally in 1 year, wind energy stocks hit by policy overhang

Shares of companies involved in wind energy generation declined up to 5 per cent amid reports that the government may bring back reverse auctions in the wind energy sector

Private capital yet to embrace energy transition, says CEA Nageswaran

While urging multilateral development banks to act on the recommendations of the independent expert group under India's Group of Twenty (G20) presidency to mobilise private capital, the CEA added

NHPC Q3 results: Profit declines 19% to Rs 628 crore on higher expenses

State-owned NHPC on Monday posted a 19 per cent fall in its consolidated net profit to Rs 628.44 crore for the October-December quarter of 2023-24 due to higher expenses. The hydro-power producer had reported a net profit of Rs 775.99 crore in the October-December period of 2022-23, the company said in an exchange filing. The company's total income also fell to Rs 2,549.69 crore in the quarter from Rs 2,691.34 crore a year ago. Expenses rose to Rs 1,727.85 crore in the quarter under review from Rs 1,303.06 crore in the third quarter of the last fiscal. The board of the company approved an interim dividend of Rs 1.40 per equity share for the financial year 2023-24. It fixed February 22 as record date for the purpose of ascertaining eligibility of shareholders for payment of interim dividend. NHPC, under the Ministry of Power, is the largest hydropower development organization in India, with capabilities to undertake all the activities from conceptualization to commissioning of hydr

Inox Wind eyes profit in coming quarters amid market upswing: INOXGFL

Wind energy solution provider Inox Wind is likely to continue its growth trajectory after its business turned around in the December 2023 quarter, driven by a strong order book and higher revenues, a top official has said. Its parent INOXGFL Group's Executive Director Devansh Jain said the group firm is expected to continue to register a consistent rise in its profit after tax (PAT) over the next few quarters, backed by growth in business amid favourable market conditions. Inox Wind Limited (IWL) is a group company of USD 8 billion INOXGFL Group, engaged in the chemicals and renewables space. On Friday, Inox Wind posted a consolidated net profit of Rs 1.81 crore for the October-December 2023 period after reporting a back-to-back loss for the last five years. In a telephonic interaction, the executive director attributed "robust order book and revenue growth of over 100 per cent to Rs 506.88 crore, aided by advantageous market conditions" as the key factors leading to the turnaround

Inox Wind Q3 results: Profit rises to Rs 1.81 cr on back of higher revenues

Inox Wind on Friday posted a consolidated net profit of Rs 1.81 crore in the December 2023 quarter on the back of higher revenues. It had suffered a loss of Rs 287.86 crore in the October-December quarter a year ago, Inox Wind said in an exchange filing. The company's total income rose to Rs 506.88 crore in the reporting quarter from Rs 237.68 crore in the year-ago period. In a separate statement, the company said its EBIDTA was at Rs 99.5 crore in the quarter against an EBITDA loss of Rs 172.5 crore in the same quarter of 2022-23. The company's orderbook stood at 2.6 GW, the statement said. Devansh Jain, Executive Director, INOXGFL Group said efforts put in over the last few quarters have yielded a remarkable turnaround for Inox Wind in the third quarter, which is reflected in the current order book and the reported numbers. "I firmly believe that we have just embarked on a massive growth journey. With all the levers aligned, which includes the strong promoter backing of the com

ONGC inks JV pact with NTPC to set up offshore wind energy projects

India's top oil producer ONGC and the nation's biggest power firm NTPC on Wednesday signed a joint venture agreement to set up offshore wind energy projects as the two firms look to boost collaboration in renewable energy. The pact was signed during India Energy Week here. "The JVA marks a pivotal collaboration aimed at spearheading renewable energy projects both within India and on the international stage," Oil and Natural Gas Corporation (ONGC) said in a statement. "Specifically, the agreement encompasses ventures in offshore wind projects while also delving into potential opportunities in storage, e-mobility, carbon credits, green credits, green hydrogen business, and its derivatives such as green ammonia and green methanol." The joint venture agreement was signed by NTPC Green Energy Limited (NGEL) CEO Mohit Bhargava, and ONGC executive director Satish Kumar Dwivedi. The signing took place in the presence of ONGC chairman and CEO Arun Kumar Singh and NTPC Limited chairman and .

Inox Wind ties up with German firm for new series of turbine generators

Homegrown Inox Wind on Tuesday said it has partnered with Germany-based Wind to Energy to introduce a new series of wind turbine generators in the domestic market. Under the agreement, Wind to Energy (W2E) will share its technology and design for the 4.X MW series wind turbine generators (WTG), Inox Wind Ltd (IWL) said in a statement. The new series of wind turbine generators has been designed for low wind regimes in India, the company said. Wind to Energy (W2E) is a global provider of technology and design for wind turbines. Inox Wind currently manufactures 2 MW and 3 MW turbines with multiple blades on existing licences with AMSC. The company will target installations of its 4.X MW series WTGs across various sites in the country. A 4.X MW series WTG can be upgraded with the use of boosters and Inox Wind will offer it in multiple blade and tower variants, it said. "The launch of 4.X MW wind turbines marks an important milestone for Inox Wind, as we continue on our exciting growt

Suzlon Q3 results: Net profit jumps to Rs 203 cr, income at Rs 1,569 cr

Renewable energy solutions provider Suzlon Energy on Wednesday posted a nearly 160 per cent jump in its consolidated net profit to Rs 203.04 crore in the December quarter, on the back of higher revenues. Its consolidated net profit was Rs 78.28 crore in the quarter ended on December 31, 2022, according to a regulatory filing. Total income rose to Rs 1,569.71 crore in the third quarter from Rs 1,464.15 crore a year ago. "In Q3 of FY24, we concluded 2023 on a strong note. The quarter showcased impactful policies propelling India's renewable energy vision ahead," Girish Tanti, Vice Chairman at Suzlon Group, said in a statement. "Our service business continues to do well. We are concentrating our efforts towards creating a better customer experience, a stronger organisation and management structure in our service business in line with expected growth of the sector," JP Chalasani, Chief Executive Officer of Suzlon Group, said. "In Q3 FY24, we have seen consistent improvement in perform

Goldman, JPMorgan Weigh in as ESG funds suffer loss of over $5 bn

Against a backdrop of attacks by the Republican Party and lackluster returns, ESG funds in the US bled more than a net $5 billion in the final three months of 2023

Inox Wind 3 MW WTGs make entry in MNRE's list of approved turbines

The government has included 3 megawatt (MW) wind turbine generators of wind energy solutions provider Inox Wind in its revised list of models and manufacturers, the company said in a statement. The Revised List of Models & Manufacturers (RLMM) of the Ministry of New and Renewable Energy (MNRE) includes quality-certified wind turbine models eligible for installation in the country to facilitate investors, lenders and developers. "The wind turbine generators (WTGs) will be available in multiple hub height variants, including 100m, 120m, and 140m. This turbine offers one of the lowest levelized costs of energy on a per unit basis given its compact design, resulting in lower costs of production, transport & logistics as well as installation, thereby giving the company a sustainable edge in the Indian market," Inox Wind said. With multiple orders in hand for the 3 MW WTGs, there will be a major ramp-up in the manufacturing and supplies of the turbines to meet the high demand. Inox .

SAEL secures $1 billion capital to fund its renewable energy portfolio

Renewable energy firm SAEL on Tuesday said it has secured USD 1 billion funds from various financial institutions, including Norfund, DFC, ADB, and Tata Cleantech, to finance its renewable energy portfolio. The investment will be used to expand the company's solar and biomass projects, capitalising on the conducive market potential and government schemes in the renewable energy sector, a company statement said. According to the statement, SAEL -- an Indian renewable energy company specialising in solar and waste-to-energy projects -- announced forging of partnerships and securing financial closure for capital totalling up to USD 1 billion at an event in New Delhi. The event was attended by the Ambassador of Norway, Deputy Chief of Mission, United States, and other dignitaries. Norfund, DFC, ADB, Tata Cleantech were the major participants in the capital raise, besides other financial institutions. In addition to the USD 1 billion partnership announcement, the SAEL has plans to comp

China overtaking European Union in research related to clean-energy: Study

About 22% of the EU's imports came from China in 2022, the paper found, rising in recent years while the equivalent figure for the US declined

Suzlon Energy appoints Sairam Prasad as CEO of wholly-owned subsidiary SGSL

Suzlon Energy Ltd on Tuesday announced the appointment of Sairam Prasad as the CEO of its wholly-owned subsidiary Suzlon Global Services Limited (SGSL). His appointment is with effect from January 16, the company said in a regulatory filing. "Sairam Prasad has been appointed as the Chief Executive Officer of SGSL, a wholly-owned subsidiary of the company...and has been designated as one of the SMPs (senior managerial personnel) of the company," it said. The company further said Ishwar Chand Mangal, the existing Chief Executive Officer of SGSL and one of the SMPs of the company, will now act as CEO New Business reporting to the group chief executive officer. He has also been appointed as the non-executive director of SGSL with effect from February 1, 2024. Pune-based Suzlon Group is one of the leading renewable energy solutions providers in the world, with more than 20 GW of wind energy capacity installed across 17 countries.

Envision Energy to supply 100 turbines for 300 MW wind project in Karnataka

Envision Energy on Monday said it will supply around 100 turbines of 3.3 MW for a 300-MW offshore wind project coming up in Karnataka. The project will be set up by investment fund Copenhagen Infrastructure Partners (CIP) for Viviid Renewables (Viviid) in the southern state under a partnership, Envision Energy said. "CIP has signed a turbine supply agreement for the EN 156 3.3 MW turbines with Envision Wind Power Technologies India. Viviid will provide balance-of-plant works and services and hold minority ownership in the project," it said. In the statement, Envision Energy did not disclose any financial information with respect to the project. Envision will supply turbines in the range of 95-100 for the project expected to be completed by end of 2025. "We look forward to continuing the successful collaboration and realizing these projects which contribute to local growth and job creation while delivering attractive returns for our fund investors," Peter Sjntoft, Associate Partner

Suzlon bags 300 MW project from Apraava Energy to supply wind turbines

Renewables solutions provider Suzlon on Thursday said it has bagged a 300 MW wind energy project from Apraava Energy. Suzlon will instal 100 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, and a rated capacity of 3 MW each at the client's site in Karnataka, a company statement said. Suzlon Group won a new order for developing a 300 MW wind power project for Apraava Energy Private Ltd, as per the statement. As part of the agreement, Suzlon will supply wind turbines and supervise the project, including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning. "Apraava has been a long term, repeat customer for us and we are delighted to partner again with them," Suzlon Group Vice Chairman Girish Tanti said in the statement. Suzlon Group Chief Executive Officer J P Chalasani said, "While the project itself is part of the SECI (tranche XIV) auction, the electricity generated from this project will be used

Solar wind particle experiment payload onboard Aditya-L1 starts ops: Isro

The Aditya Solar wind Particle Experiment payload onboard India's Aditya-L1 satellite has commenced its operations and is performing normally, ISRO said on Saturday. ISRO's Polar Satellite Launch Vehicle (PSLV-C57) on September 2 had successfully launched the Aditya-L1 spacecraft, from the second launch pad of Satish Dhawan Space Centre, Sriharikota. Aditya-L1 is the first Indian space-based observatory to study the Sun from a halo orbit around first Sun-earth Lagrangian point (L1), which is located roughly 1.5 million km from Earth. In a statement, ISRO said Aditya Solar wind Particle Experiment (ASPEX) comprises two cutting-edge instruments 'the Solar Wind Ion Spectrometer (SWIS) and SupraThermal and Energetic Particle Spectrometer (STEPS). The STEPS instrument was operational on September 10, 2023. The SWIS instrument was activated on November 2, 2023, and has exhibited optimal performance. "SWIS, utilising two sensor units with a remarkable 360 field of view each, operates in

SJVN inks pact with Solar Energy Corporation to supply 200 mw wind power

State-owned power producer SJVN Ltd on Thursday said it has signed a pact with Solar Energy Corporation of India to supply 200 MW of wind power. The power producer has signed a power purchase agreement (PPA) for a 200 MW grid-connected wind power project with Solar Energy Corporation of India Ltd (SECI), SJVN Chairman & Managing Director Nand Lal Sharma said in a statement. Sharma informed that SJVN Green Energy Ltd (SGEL) -- its wholly-owned subsidiary -- had participated in the tariff-based competitive bidding process conducted by SECI for the selection of wind power developers for setting up 1,200 MW grid-connected wind power projects anywhere in India. SGEL bagged 200 mw at a tariff of Rs 3.24 per unit on a build-own and operate (BOO) basis in an open competitive tariff bidding process. He further said the 200 MW wind project will be developed by SGEL anywhere in India through an EPC contract. With the allotment of this project, the wind portfolio of SJVN now stands at 497.6 .