Key Power Sector News Roundup for September 20, 2024

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Tata Group and Analog Devices Collaborate on SemiconductorsTata Group and Analog Devices have partnered to explore semiconductor manufacturing in India, focusing on applications for electric vehicles and network infrastructure.  uctor supply chain. Sunsure Energy Secures Rs 100 Billion REC FinancingSunsure Energy has secured Rs 100 billion in financing from REC to support 3 GW of solar, wind, and energy storage projects, aiming to offset 5 million tonnes of CO2 annually and aid India’s green energy…

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Hero Future to invest USD 20 billion, targeting 30 GW capacity by 2030

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Hero Group’s power unit, Hero Future Energies, plans to invest USD 20 billion over the next six years to expand its capacity nearly 16-fold. The investment will focus on wind, solar, and battery storage technologies, funded through a mix of internal resources, debt, and equity. With 3.4 GW of capacity under construction, set to be completed within two years, Hero Future Energies aims to increase its current 1.9 GW capacity to 30 GW by 2030….

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IGREL Renewables raises Rs 3 billion, targets 2 GW renewable capacity by FY27

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IGREL Renewables, the IPP platform of INOXGFL Group, has secured Rs 3 billion in equity funding from prominent investors. The company aims to reach 2 GW of installed renewable capacity, focusing on wind and solar energy, by FY27. With a planned investment of Rs 12 billion over the next three years, IGREL is positioning itself as a leading C&I renewable power generation platform. The company has already secured power purchase agreements and letters of intent…

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Tata Power wins 400 MW wind-solar hybrid project in Maharashtra

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Tata Power Renewable Energy Ltd. (TPREL) has won a letter of award from Maharashtra State Electricity Distribution Company (MSEDCL) for a 400 MW wind-solar hybrid project in Maharashtra. The project, expected to be completed within 24 months of signing the power purchase agreement, will contribute to MSEDCL’s sustainable energy needs and help reduce CO2 emissions by 895 million kilograms annually. This is TPREL’s largest renewable energy project in Maharashtra, with an initial 200 MW capacity…

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Ageing power grids delay 3,000 GW of renewable energy projects worldwide

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Outdated power grids are slowing the global transition to renewable energy, with 3,000 GW of clean energy projects, many in advanced stages, stuck in grid-connection queues. This figure is five times the total solar and wind capacity added in 2022, according to the International Energy Agency (IEA). While renewable energy investment has nearly doubled since 2010, annual spending on grid upgrades has stagnated at $300 billion. The issue is particularly pressing in developing nations like…

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North Korea-linked hackers use fake job offers to target energy industry

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A North Korea-affiliated cyber-espionage group, UNC2970, is tricking people in the energy and aerospace industries with fake job offers to gain access to sensitive information. The hackers send phishing emails, pretending to be recruiters offering high-level jobs. When victims open the job descriptions, they unknowingly download malware called MISTPEN, a tool that gives hackers control over their computers. This cyber group has been active since 2013 and is believed to be working for North Korea’s…