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NLCIL produces 12.34 billion units of green power, targets 10,000 MW renewable capacity by 2030

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State-owned NLC India Ltd (NLCIL) has generated 12.34 billion units of green power, preventing the emission of 10 million tonnes of carbon dioxide, according to a statement by the coal ministry. Traditionally a lignite-based power producer, NLCIL is now aiming to achieve 10,000 MW of renewable energy capacity by 2030. NLCIL has already established 1,380 MW of solar power plants and 51 MW of wind power plants. To reach its ambitious renewable energy target, NLCIL…

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Saatvik Solar plans Rs 10 billion IPO for expansion

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Saatvik Solar is reportedly planning to raise Rs 10 billion through an initial public offering (IPO) to fund its expansion plans.  The company, which currently has a module production capacity of 1.8 GW, expects to increase this capacity to 3.8 GW by November 2024. Over the next two years, Saatvik plans to invest Rs 22 billion to further boost its module-making capacity to 7.8 GW and establish a 2 GW cell manufacturing capacity.

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REC raises $500 million through green bonds for renewable energy projects

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REC Limited has raised $500 million through green dollar bonds as part of its $10 billion global medium-term programme. This 5-year bond has a coupon rate of 4.75% per annum, with semi-annual payments, and is set to mature on September 27, 2029. It marks the first US dollar bond issuance by an Indian public sector enterprise in 2024. The funds raised under REC’s Green Finance Framework will be allocated to eligible green projects in line…

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Ashoka Buildcon declared L1 bidder for transmission project in Madhya Pradesh

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Ashoka Buildcon has been declared the lowest bidder (L1) for a transmission project by M P Poorv Kshetra Vidyut Vitran. The project involves the installation, testing, and commissioning of new 11 kV lines, LT lines on AB cable, DTR substation, and related works to separate 11 kV mix feeders and mix DTRs under the RDSS scheme in the Chhindwara circle. The financial bid, valued at Rs 1.93 billion, was opened on 24 September 2024. This…

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L&T wins new mandates in digital energy solutions space

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Larsen & Toubro’s Digital Energy Solutions (DES) business, part of its Power Transmission & Distribution arm, has received a mandate to implement Energy Management Systems (EMS) in regional and state load dispatch centres across South India. This project will upgrade control rooms for the Southern Regional Load Dispatch Centre (SRLDC) and the State Load Dispatch Centers (SLDC) of Andhra Pradesh, Kerala, Puducherry, Tamil Nadu, and Telangana. L&T DES will ensure the system integration without any…

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Marsons enters renewable energy sector, wins LoI for 150 MW solar project in Rajasthan

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Marsons Ltd has announced its entry into the renewable energy sector. The company will focus on manufacturing specialised equipment and undertaking EPC contracts for solar power plants. The company plans to supply inverter-duty transformers and generation step-up (GSU) transformers for solar and wind power plants, and it will invest Rs 25 million to expand its transformer range over the next three months. In addition, Marsons received a letter of intent (LoI) from NACOF OORJA to…

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Power Mech wins Rs 2.27 billion O&M contract in Gujarat

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Power Mech Projects has secured an order worth Rs 2.27 billion to provide operations and maintenance (O&M) services for Gujarat Mineral Development Corporation’s 250 MW (2×125 MW) Akrimota Thermal Power Station (ATPS) in Kutch district, Gujarat. The contract includes O&M and repair work for the entire power plant, covering all equipment related to power generation and transmission, including the 220 kV switchyard. The project will span three years from the commencement of work, ensuring the…

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Bajel Projects wins first order in data centre segment

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Bajel Projects Ltd has announced its entry into the data centre sector by winning its first order to design and construct a 220/33kV gas-insulated switchgear (GIS) substation and transmission line extension for a colocation data centre in Navi Mumbai, Maharashtra.  The project, which will include lattice towers, monopoles, and a GIS substation, aims to provide a reliable and efficient power supply. Bajel is committed to completing the project on time while adhering to stringent safety…

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Powerica selects GE Vernova wind turbines for 51.3 MW project in Gujarat

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Powerica Limited, a key player in the IPP and EPC segments of the wind industry with a 280 MW pan-India portfolio, has chosen to install 19 GE Vernova 2.7 MW-132 wind turbine generators (WTGs) for its 51.3 MW wind energy project at Devbhumi Dwarka, Gujarat. The project, part of SECI XVI tranche, will contribute to India’s renewable energy growth and benefit the local community. The WTGs, expected to generate around 160 million units annually, will…