Power Sector News Roundup for December 6, 2024

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Global: Spain to build largest pumped storage hydro power plant in Europe Philippines and UAE sign MoU for energy transition cooperation Estonia to host electronic auction for offshore wind farm in Saare 1 area India: Synergy Green signs supply agreement with Envision Energy for wind turbine castings DMR Hydroengineering & Fitchner GmbH JV empanelled as consultant for THDCIL’s pumped storage projects India Power emerges as lowest bidder for NTPC Dadri thermal energy storage project Teems…

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Estonia to host electronic auction for offshore wind farm in Saare 1 area

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The Consumer Protection and Technical Regulatory Authority (CPTRA) of Estonia has announced an electronic auction for the development of an offshore wind farm in the Saare 1 area, located 60 km west of Saaremaa island in the Baltic Sea.  The auction will take place from January 21 to January 23, 2025. Three qualified participants—CI Estonia Wind GmbH & Co. KG, OÜ Utilitas Wind, and Oxan Energy—will compete, with a starting price of €1.32 million and…

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Philippines and UAE sign MoU for energy transition cooperation

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The Governments of the Philippines and the United Arab Emirates (UAE) have signed a memorandum of understanding (MoU) to strengthen cooperation in energy transition.  The agreement focuses on key areas such as renewable energy, liquefied natural gas, nuclear energy, power infrastructure, and emerging technologies. An implementation agreement with a UAE state-owned firm is expected in January 2025, advancing renewable and alternative energy projects.  This MoU follows a similar agreement signed in October 2024 with Saudi…

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Spain to build largest pumped storage hydro power plant in Europe

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Spain is set to become a leader in renewable energy with the construction of the continent’s largest pumped storage power plant.  Managed by Iberdrola, the Conso II project will be located in Ourense, Galicia, and will involve an investment of over 1.5 billion euros. The Conso II facility will feature an innovative design that connects two reservoirs using the region’s natural slope, allowing for efficient electricity generation.  With a capacity of 1,800 MW and the…

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JBM Group partners with Keppel for global energy transition

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JBM Group has signed a memorandum of understanding (MoU) with Singapore-based Keppel to accelerate global energy transition and sustainable infrastructure growth.  The MoU was signed in the presence of Minister of Commerce and Industry Piyush Goyal and Keppel’s Infrastructure Division CEO, Cindy Lim. Under the partnership, JBM Group will leverage its expertise in electric vehicles, EV aggregates, and auto systems to collaborate with Keppel on projects focused on electro-mobility, battery energy storage systems (BESS), and…

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Advait Energy wins contract for 400 KV transmission line project

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Advait Energy Transitions has secured an order for the supply of 24 F optical ground wire (OPGW) cables on a turnkey basis for the 400 KV Kurukshetra-Malerkotla transmission line.  The contract, awarded by NRSS XXXI (B) Transmission, includes both supply and installation under a build, own, and operate model. The project is scheduled to be completed within seven months.

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Reliance Power reports Rs 28.78 billion net profit in Q2 FY2024

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Reliance Power Limited has recorded a net profit of Rs 28.78 billion for the quarter ended September 2024, reversing a loss of Rs 2.38 billion in the same period last year. Despite the turnaround, the company’s total income decreased by 7.23 per cent to Rs 19.63 billion during the quarter, compared to Rs 21.16 billion in the corresponding period of 2023.

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DSSL to set up 1,800 MW solar module plant in Maharashtra

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Dynamic Services and Security Limited (DSSL) has secured an order from the Maharashtra government to establish a 1,800 MW solar module manufacturing facility in MIDC Villebhagad, Tal-Mangaon, Raigad district.  The project, involving an investment of Rs 10.8 billion, falls under the Maharashtra Package Scheme of Incentives (PSI) 2019, which promotes industrial growth in underdeveloped regions through incentives. Projects with a minimum capital investment of Rs 10 billion under the PSI scheme are classified as mega…

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FICCI and MAHAPREIT collaborate for renewable energy in Maharashtra

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The Federation of Indian Chambers of Commerce and Industry (FICCI) has signed a memorandum of understanding with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) to promote renewable energy, decarbonisation, energy efficiency, and environmental compliance in Maharashtra. The partnership focuses on facilitating renewable energy projects, aiding industries in adopting decarbonisation practices, and implementing energy efficiency measures across large-scale industries and MSMEs.  Additionally, it aims to aggregate demand across sectors to make sustainability solutions more…

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Refex Green Power establishes SPV for 100 MW solar project

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Refex Green Power Limited (RGPL), a subsidiary of Refex Renewables & Infrastructure Limited, has incorporated Refex Solar SPV Five Limited to implement a 100 MW solar power project awarded by NTPC Limited. Refex Solar SPV Five, wholly owned by RGPL, has been set up with a paid-up equity share capital of Rs 1 million.  The project will operate under a 25-year power purchase agreement with NTPC.