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Nepal exports Rs 13.04 billion worth of electricity to India in 5 months

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The Nepal Electricity Authority (NEA) has exported electricity valued at Rs 13.04 billion during the first five months of the fiscal year 2024/25. From July 16 to December 15, 2024, approximately 1.76 billion units of electricity were sold to India, primarily during the rainy season. The NEA has been exporting surplus electricity at competitive rates in the Indian Energy Exchange (IEX) and through bilateral agreements with Haryana and Bihar. The average export price was Rs…

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India and Kuwait elevate ties to strategic partnership

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India and Kuwait have upgraded their relationship to a strategic partnership, focusing on defence, energy, trade, investment, and technology.  During Prime Minister Narendra Modi’s first visit to Kuwait in 43 years, an MoU on defence was signed to enhance cooperation in training, joint exercises, and equipment supply. The two countries share strong energy ties, with bilateral trade reaching $10.47 billion in 2023-24. Kuwait is India’s sixth-largest crude supplier and fourth-largest LPG supplier. Agreements also included…

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Union Minister reviews Kerala’s power sector scenario

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Union Minister of Power Shri Manohar Lal reviewed Kerala’s power sector at a meeting in Thiruvananthapuram.  Shri Suresh Gopi, Minister of State for MoPNG & Tourism, and Shri K Krishnankutty, Kerala’s Minister for Electricity, attended with officials from the State Government, GoI, and Power Finance Corporation (PFC). Key topics included power demand, supply, capacity additions in renewable, hydro, and nuclear sectors, and the status of the Revamped Distribution Sector Scheme (RDSS). Kerala highlighted concerns over…

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Maharashtra reaffirms commitment to free power for farmers

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Maharashtra Chief Minister Devendra Fadnavis reaffirmed his government’s commitment to continue providing free electricity to farmers and promote solar energy adoption in the agricultural sector. In the 2024 Assembly elections, the BJP had promised that farmers in the state would maintain access to free electricity. Farmers using agricultural pumps up to 7.5 horsepower are eligible for this benefit. The state government spends Rs 100 billion on power subsidies for farmers, with subsidies in place even…

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Lending to renewable energy projects in India rises 63% in 2023

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Lending to renewable energy (RE) projects in India surged by 63% in 2023, reaching Rs 302.55 billion, compared to the previous year, according to a report by the Centre for Financial Accountability.  Solar energy accounted for 49% of the funding, with Rs 148.14 billion directed toward solar projects. Hybrid projects saw a 31% year-on-year increase, attracting Rs 137.73 billion.  Only one loan was made for wind energy projects, highlighting a shift towards solar and hybrid…

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RIL picks up 26% stake in Adani’s power project

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Reliance Industries, led by Mukesh Ambani, has acquired a 26% stake in Gautam Adani’s Mahan Energen Ltd (MEL), a subsidiary of Adani Power Ltd, as part of a deal to secure 500 MW of electricity for captive use.  Reliance will invest Rs 500 million equity shares of MEL, at a face value of Rs 10 per share. The agreement includes a 20-year Power Purchase Agreement (PPA) under the Captive User policy, with one unit of…

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NTPC Green signs MoU with Bihar government for renewable energy

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NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has signed a Memorandum of Understanding (MoU) with the Department of Industries, Government of Bihar, during the “Bihar Business Connect 2024” Global Investors’ Summit in Patna on December 20, 2024. The MoU was signed by Shri Alok Ranjan Ghosh, Director (Industries), Government of Bihar, and Shri Bimal Gopalachari, Addl. GM (Business Development), NGEL, in the presence of Bihar’s Industries Minister, Shri Nitish Mishra, and other officials…