Adani Energy Solutions Limited (AESL) has reported a net profit of Rs 7.73 billion for the quarter ending September 2024, marking a 172.18% increase compared to Rs 2.84 billion in the same quarter last year. The company’s total income also rose by 68.88%, reaching Rs 63.6 billion, up from Rs 37.66 billion during the corresponding period of the previous year.
The Rajasthan government has signed a memorandum of understanding (MoU) with the United Arab Emirates (UAE) for an investment of Rs 3 trillion to develop renewable energy projects with a combined capacity of 60 GW in solar, wind, and hybrid energy across western Rajasthan. The UAE will appoint a qualified developer to manage project governance and administration, ensuring efficient and swift implementation.
The Ministry of New and Renewable Energy (MNRE) has received approval for a revised solar power scheme under PM JANMAN and Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PM JUGA). The scheme aims to electrify 100,000 un-electrified households in tribal and particularly vulnerable tribal groups (PVTG) areas using off-grid solar systems, with a total budget allocation of Rs 9.15 billion. It targets 18 Indian states, including Andhra Pradesh, Gujarat, and West Bengal, where grid electrification is…
Sun Drops Energia Private Limited, a subsidiary of KPI Green Energy Limited, has received a letter of intent (LoI) to develop solar power projects with a total capacity of 9 MW under the company’s captive power producer (CPP) segment. The projects are scheduled for completion in various tranches by May 2025.
NLC India Limited (NLCIL) has entered into a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to establish a 3×125 MW lignite-based thermal power plant in Rajasthan, along with developing lignite mines to fuel the station. The initial paid-up capital for this project is set at Rs 500,000, with NLCIL holding a 74% stake and RRVUNL holding 26%. In addition, NLC India Renewables Limited, a subsidiary of NLCIL, has also signed a…
Atul Greentech, a subsidiary of Atul Auto, has signed an agreement with Exide Energy Solutions (EESL) to source lithium-ion battery packs from EESL’s facility in Prantij, Gujarat. The agreement also includes sourcing lithium-ion cells once EESL begins production at its Bangalore facility. This partnership aims to enhance India’s self-reliance in the EV sector, integrating domestically manufactured lithium-ion cells to promote sustainable and innovative electric mobility solutions. Atul Auto, known for its three-wheelers, operates in both…
Orb Energy has installed an 800-kW rooftop solar system at Esteem Industries in Alonde, Wada, Maharashtra. The system is set to generate over 1 million units of electricity annually, meeting approximately 80% of Esteem Industries’ daytime electricity needs and reducing carbon emissions by around 1,000 tonnes per year. The installation is expected to produce around 3,100 kWh of solar energy daily. Esteem Industries, a surfactants and specialty chemicals manufacturer, will benefit from significant cost savings…
Syrma SGS Technology has opened one of its largest integrated electronics manufacturing facilities in Ranjangaon, near Pune, Maharashtra. Spanning 26.5 acres, the new campus will feature a manufacturing area of 1.20 million sq. ft. at its peak, enhancing the company’s PCB assembly capabilities to meet rising domestic demand, especially in the automotive and industrial sectors. The first phase, covering over 60,000 sq. ft., is expected to generate around 1,000 direct jobs. The facility aims to…
JSW Energy’s step-down subsidiary, JSW Renew Energy Eleven, has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for a 700 MW solar capacity under SECI Tranche XIII. The PPA, with a tariff of Rs 2.56/kWh, is set for 25 years, and the project is expected to be commissioned within 24 months. JSW Energy, targeting 10 GW operational capacity by FY 2025, currently operates 7.9 GW across thermal, hydro, and renewable…
HG Infra Engineering has been declared the qualified bidder by NTPC Vidyut Vyapar Nigam for 185 MW/370 MWh as part of a 500 MW/1000 MWh standalone battery energy storage system (BESS) project. The project is supported by viability gap funding, and the tariff rate is set at Rs 2.38 million per MW per month. The contract is scheduled for completion in 1.5 years.