The Asian Infrastructure Investment Bank (AIIB) will invest Rs 7.3 billion to support India’s renewable energy initiatives through the ENGIE Solar Power Project. This project, co-financed with the Asian Development Bank (ADB), involves developing, building, and operating a 400 MW solar photovoltaic plant in Gujarat. Together, AIIB and ADB will provide up to Rs 14.6 billion in local currency as a project finance senior debt facility.
Continuum Green Energy, a leading renewable energy group in India focused on commercial and industrial consumers, has entered into a definitive agreement with Just Climate, a specialist investment firm. Just Climate will invest Rs 12.56 billion (approximately USD 150 million) in new equity to support Continuum’s deployment of wind-solar hybrid energy generation and storage projects across India. This investment is part of Just Climate’s Climate Asset Fund I, which targets industrial climate solutions in the…
On August 19, 2024, Andhra Pradesh Chief Minister N Chandrababu Naidu laid the foundation stone, inaugurated, and inked deals for projects in Sri City valued at Rs 36.83 billion, potentially generating 15,280 employment opportunities. Fifteen industrial projects worth Rs 15.7 billion were inaugurated, expected to create 8,480 jobs. The foundation was laid for seven projects with an investment of Rs 9 billion, likely to generate 2,740 jobs. Additionally, five agreements were signed involving an investment…
Kaynes Technology, an electronics manufacturing services firm, will inaugurate an advanced electronics unit at Kongara Kalan, Telangana, on August 23, 2024. Following a memorandum of understanding (MoU) signed with the Telangana government in October 2023, the company has invested Rs 28.5 billion in the project. The unit will focus on services such as printed circuit board (PCB) manufacturing and other components. Additionally, Kaynes Technology is planning to establish a sophisticated OSAT (Outsourced Semiconductor Assembly and…
Kolkata-based EPC and engineering firm BTL EPC has secured new contracts worth Rs 4.13 billion from public sector giants BHEL and SAIL. The company won a Rs 2.67 billion contract from BHEL for NTPC’s Lara TPS Stage-II (2×800 MW) project in Pussore, Chhattisgarh, where it will provide turnkey solutions for conveyor systems and electromechanical equipment for handling coal, limestone, gypsum, and biomass. Additionally, BTL EPC received a Rs 960 million contract from SAIL-Bhilai for replacing…
State transmission utility Jharkhand Urja Sanchar Nigam Ltd (JUSNL) has terminated its contract with BGR Energy Systems Ltd, citing delays in completing the agreed scope of work. The contract, signed on September 9, 2020, involved the supply, installation, testing, and commissioning of 132/33kV GIS substations at Sarath, Sundernagar, and Chattarpur in Jharkhand. BGR Energy Systems disclosed in a stock exchange filing that the termination, communicated via a letter dated August 14, 2024, and received on…
Three developers—Power Grid Corporation of India Ltd (PGCIL), Sterlite Power, and Adani Energy Solutions Ltd (AESL)—have qualified for the opening of initial price bids for the ISTS-TBCB scheme under “Navinal Transmission Ltd.” The bidding process, coordinated by PFC Consulting Ltd (PFCCL), began in May 2024 and will soon move to the e-reverse auction (e-RA) phase. The project, officially termed the “Network expansion scheme in Navinal (Mundra) area of Gujarat for drawl of power in the…
Siemens Smart Infrastructure, through its German subsidiary Alpha Verteilertechnik, has introduced the SIVACON 8MF1 industrial control cabinet series, made entirely from scrap metal sourced from reputable European suppliers. These cabinets are manufactured using wind power, aligning with Siemens’ sustainability goals under its DEGREE framework, which targets decarbonization and resource efficiency in line with a 1.5°C science-based target. The production process of the SIVACON 8MF1 cabinets reduces CO2 emissions by 70% compared to conventional steel production,…
On August 19, 2024, REC Power Development & Consultancy Ltd (RECPDCL) officially transferred two special purpose vehicles (SPVs) related to ISTS-TBCB schemes to Power Grid Corporation of India Ltd (PGCIL). The SPVs—Rajasthan IV C Power Transmission Ltd and Rajasthan IV E Power Transmission Ltd—are linked to the transmission system for evacuating power from Rajasthan REZ Phase-IV (5.5 GW) in the Jaisalmer/Barmer Complex. PGCIL received the letter of intent for these projects on April 16, 2024,…
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