|

WAPCOS invites bids for EIA on Togo solar electrification project

By

WAPCOS Limited, a Mini Ratna PSU under India’s Ministry of Jal Shakti, has issued a tender inviting local Togolese agencies to conduct an Environmental and Social Impact Assessment (ESIA) for a solar electrification initiative.  Funded by the EXIM Bank of India, the project aims to electrify 350 rural villages in Togo using solar photovoltaic systems. It seeks to reduce fossil fuel dependency, enhance energy access, and foster sustainable socio-economic growth. The project is being executed…

|

NTPC Green Energy and MAHAGENCO form JV for renewable energy parks

By

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, and Maharashtra State Power Generation Company Limited (MAHAGENCO) have established a joint venture company, MAHAGENCO NTPC Green Energy Private Limited (MNGEPL).  The JV was incorporated on November 25, 2024. MNGEPL is a 50:50 partnership focused on developing, operating, and maintaining renewable energy parks in Maharashtra under the Ultra Mega Renewable Energy Power Parks (UMREPP) program.

|

Siemens reports 45% profit growth in Q4 FY 2024

By

Siemens Limited posted strong Q4 FY 2024 financial results, with a 45% increase in profit after tax to Rs 7.75 billion and an 11% revenue rise to Rs 58.94 billion. New orders grew by 37% to Rs 61.64 billion.  For the financial year ending September 30, 2024, the company reported a 14% revenue increase to Rs 202.5 billion and a 39% rise in profit after tax to Rs 26.65 billion. The Board recommended a dividend…

|

Adani Green Energy establishes new subsidiary for renewable energy projects

By

Adani Green Energy Limited (AGEL) has established a new wholly-owned subsidiary, Adani Hydro Energy Five Limited (AHE5L), through its subsidiary Adani Saur Urja (KA) Limited.  Incorporated on November 26, 2024, AHE5L is registered in Ahmedabad, Gujarat, with an authorized and paid-up capital of Rs 100,000. AHE5L will generate, develop, transform, distribute, transmit, sell, and supply power through renewable energy sources, including wind and solar. 

|

NTPC Green signs MoU for 2000 MW renewable energy projects in Chhattisgarh

By

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has signed a Memorandum of Understanding (MoU) with Chhattisgarh State Power Generation Company Limited (CSPGCL) to develop renewable energy projects with a capacity of up to 2000 MW.  The projects will include floating solar power installations. The MoU was signed on November 26, 2024, in Raipur by Shri G. K. Gupta, Chief Engineer of CSPGCL, and Shri D. Joshi, General Manager (Engineering) of NGEL. 

|

Solarworld Energy raises Rs 1.1 billion in pre-IPO placement round

By

Solarworld Energy Solutions Limited has raised Rs 1.1 billion through a pre-IPO placement, reducing the fresh issue component of its IPO from Rs 5.5 billion to Rs 4.4 billion.  Initially, the company planned to raise Rs 6 billion, as per the draft red herring prospectus (DRHP) filed with SEBI in September. The IPO includes Rs 500 million as an offer-for-sale (OFS) by the promoter, Pioneer Facor IT Infradevelopers. On November 21, the company allotted 3.12…

Power Sector News Roundup for November 26, 2024

By

Global: Masdar and Silk Road Fund to co-invest $2.8bn in renewable energy projects BayWa r.e. sells 517 MW US solar portfolio in largest transaction to date RWE acquires majority stake in R3 Renewables Equinor cuts 20% of renewables workforce amid offshore wind challenges Azerbaijan awards first 100 MW solar project to Universal International Arab Group opposes fossil fuel phase-out at COP29 climate summit Indonesia to retire coal-fired power plants by 2040 National Grid Renewables secures…

|

US DOE launches $30m AI4IX programme to accelerate energy interconnections

By

The Biden-Harris Administration, through the US Department of Energy (DOE), has announced $30 million in funding for the Artificial Intelligence for Interconnection (AI4IX) programme.  This initiative, supported by the Bipartisan Infrastructure Law, aims to enhance the integration of new energy projects into the power grid by leveraging advanced artificial intelligence (AI) technologies. The AI4IX programme seeks to streamline the interconnection application process, reduce delays, and expedite the commissioning of renewable energy projects. AI algorithms will…

|

Ørsted begins sale of 50% stake in £8.5bn Hornsea 3 wind farm

By

Danish energy company Ørsted has started the process of divesting a 50% stake in its 2.9 GW Hornsea 3 offshore wind farm, located 120 km from the UK coast, according to Bloomberg. The sale, part of Ørsted’s broader divestment strategy led by CEO Mads Nipper, is expected to attract buyers willing to contribute to the project’s construction costs. The Hornsea 3 project, valued at approximately £8.5 billion ($10.8 billion), is anticipated to supply power to…