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UltraTech Cement to source renewable energy from CleanMax SPV

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UltraTech Cement has announced plans to source renewable energy through a captive arrangement with CleanMax’s special-purpose vehicle (SPV), Clean Max Sapphire.  The company has acquired a 26% equity share in the SPV for Rs 457.6 million, entering agreements for energy supply, share subscription, and shareholder rights. The SPV will develop a 55 MW wind-solar hybrid project in Honawad, Vijayapur district, Karnataka, to supply power to UltraTech Cement. The share acquisition is expected to be completed…

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REC PDCL forms SPV for transmission system in Rajgarh, Madhya Pradesh

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REC Power Distribution Company Limited (REC PDCL) incorporated Rajgarh III Power Transmission Limited, a special purpose vehicle (SPV) for the development of the Transmission system for Evacuation of Power from RE Projects in Rajgarh (1500 MW) SEZ in Madhya Pradesh-Phase III on December 24, 2024. REC PDCL has been appointed as the bid process coordinator (BPC) for the selection of a transmission service provider (TSP) for the establishment of the project through tariff based competitive…

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MoP to assign nuclear power plant in Kerala

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The Ministry of Power (MoP) has planned to set up a nuclear power plant (NPP) in Kerala, pending the availability of 60.7 hectares of land.  Athirappilly in Thrissur district and Cheemeni in Kasaragod district have been identified as suitable sites for the plant. Kerala State Electricity Board (KSEB) intends to utilize the thorium reserves along the Kerala coast to establish a thorium-based NPP.

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Center lays foundation for three hydroelectric projects in Himachal Pradesh

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The Central Government has laid the foundation stone for three hydroelectric projects (HEPs) in Himachal Pradesh. These projects are: Luhri Hydro Electric Project Stage I: This project involves constructing an 86 m high concrete gravity dam across the Satluj river near Nirath village. It will generate 210 MW of hydro power at an estimated cost of Rs 18.10 billion. Sunni Dam Hydro Electric Project: A Run-of-River (RoR) scheme on the Satluj River near Khaira village,…

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Three firms win 600 MW contracts under SECI’s solar Tranche-XVIII

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Three companies secured contracts totalling 600 MW for the development of 1,000 MW Inter-State Transmission System (ISTS)-Connected Solar Power Projects under Tranche-XVIII.  ReNew Solar Power Private Limited (ReNew Power Ventures Private Limited) won 250 MW with a tariff of Rs 3.04 per kWh. ACME Solar Holdings Private Limited secured 300 MW with a tariff of Rs 3.05 per kWh. Adani Renewable Energy Holding Twelve Limited (Adani Green Energy Limited (AGEL)) won 50 MW with a…

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Refex Renewables issues Rs 1.05 billion NCDs

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Refex Renewables & Infrastructure Limited has issued 105 senior, secured, unrated, unlisted, and taxable non-convertible debentures (NCDs) through private placement. The NCDs, with an aggregate value of Rs 1.05 billion, were allotted to the Northern Arc Emerging Corporates Bond Trust. They have a tenure of 20 months, starting from December 23, 2024, and maturing on July 30, 2026. The debentures carry an annual interest rate of 14.25 per cent, with monthly interest payments.

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Six firms win bids for 816 MW solar projects under NTPC tender

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Six companies have won bids to set up a total of 816 MW capacity under the 1,200 MW ISTS-Connected Solar Power Project (NTPC-02) anywhere in India, as announced on December 23, 2024. Bharat Petroleum Corporation Limited (BPCL) won 150 MW with a tariff of Rs 2.55 per kWh. Onward Solar Power Private Limited secured 50 MW with a tariff of Rs 2.59 per kWh. ReNew Solar Power Private Limited (ReNew Power Ventures Private Limited) was…