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IndiGrid reports Rs 651 billion bid pipeline, expands BESS portfolio with new projects

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India Grid Trust (IndiGrid) has estimated a bid pipeline worth over Rs 651 billion in the power transmission sector, as disclosed in its Q2 FY25 investor presentation. The pipeline includes interstate transmission system (ISTS) projects with issued requests for proposal (RfP). Additionally, IndiGrid sees an estimated Rs 35 billion opportunity in the battery energy storage system (BESS) market, primarily from projects in Gujarat and Uttar Pradesh. In Q2FY25, IndiGrid announced a partnership with British International…

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JSW Energy wins bid for KSK Mahanadi Power with Rs 159.85 billion offer

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JSW Energy has emerged as the top bidder for KSK Mahanadi Power at an auction concluding on October 27, 2024. The Sajjan Jindal-led company offered Rs 159.85 billion to financial creditors, outbidding Adani Power, which had made a final offer of Rs 158.85 billion in the 10th round before opting out. JSW’s proposal includes a 26% equity stake for lenders and an additional Rs 1 billion for operational creditors. This acquisition marks another significant move…

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Om Infra secures Rs 4.1 billion H&M contract for Kwar HEP

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Om Infra has been awarded a contract valued at Rs 4.1 billion for hydro-mechanical (H&M) works on the 540 MW Kwar hydroelectric power project in Jammu & Kashmir by Chenab Valley Power Projects. The contract includes the complete HM scope, covering procurement, manufacturing, inspection, assembly, testing, painting, transportation, storage, site erection, and commissioning of equipment such as radial gates, stoplogs, gantry cranes, trash racks, and steel liners for pressure shafts.  The project is expected to…

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Adani Green Energy posts 39% rise in quarterly net profit to Rs 5.15 billion

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Adani Green Energy Limited (AGEL) reported a net profit of Rs 5.15 billion for the quarter ending September 2024, marking a 39% increase from Rs 3.71 billion in the same quarter last year. The company’s total income rose by 30.39% to Rs 33.76 billion during this period, up from Rs 25.89 billion recorded in the corresponding quarter of the previous year.

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JSW Steel to commission 580 MW renewable power by March 2025

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JSW Steel’s Board has approved an expanded power purchase agreement (PPA) to procure renewable power for a total of 2,507 MW across its sites at Vijayanagar, Dolvi, Salem, and Anjar. Of the initial 1,637 MW commitment, 375 MW has already been commissioned, with an additional 580 MW expected to come online by March 2025. The Board has now greenlit further renewable procurement, including a hybrid energy capacity of 600 MW (200 MW solar and 400…

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Rajasthan unveils RIPS to boost renewable energy investments

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The Rajasthan government has introduced the Rajasthan Investment Promotion Scheme (RIPS) to enhance renewable energy investments, tapping into its potential of 24.22 GW in solar energy and 5.19 GW in wind energy. Under RIPS, enterprises investing in solar, wind, hybrid, and energy storage projects, including battery energy storage systems and biomass, receive various incentives. The scheme offers a 100 per cent subsidy on cross-subsidy and additional surcharges for renewable energy used in green hydrogen production…

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Kataria Industries acquires Ratlam Wires’ wire manufacturing business

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Kataria Industries has acquired the wire manufacturing business of Ratlam Wires for approximately Rs 310 million.  The acquisition, valued at Rs 306 million, is structured as a slump sale, with the business continuing as a going concern. This move is expected to enhance Kataria’s presence in the steel wire industry. Ratlam Wires produces various steel wire products, including spring steel wires, PC strand wires, and both galvanized and ungalvanized wires. Arun Kataria, Managing Director of…

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Schneider Electric partners with Noida International Airport for advanced energy management solutions

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Schneider Electric has formed a strategic partnership with Noida International Airport to implement advanced building and energy management systems. This collaboration aims to enhance the airport’s operational efficiency and sustainability through comprehensive building management technologies, including Electrical SCADA and Advanced Distribution Management Systems. The partnership will optimize energy use, lower operational costs, and reduce environmental impact by integrating renewable energy sources and intelligent building management systems. Schneider Electric’s automation and control technologies will improve overall…

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NTPC Q2 FY 2025 net profit rises 14% to Rs 53.8 billion, revenue slightly declines

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State-run power generator NTPC Ltd reported a consolidated net profit of Rs 53.8 billion for the second quarter of 2024-25 (Q2 FY 2025), a 14% increase from Rs 47.26 billion in the same period last year. Revenue from operations in the September quarter stood at Rs 446.96 billion, a slight decline from Rs 449.83 billion reported in the corresponding quarter of the previous fiscal year. As India’s largest integrated power utility, NTPC contributes 25% of…