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Himachal Pradesh seeks central funding support Kishau Project

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The Government of Himachal Pradesh has urged the Government of India to adopt a 90:10 funding formula or provide a 50-year interest-free loan to finance the Kishau Multi-Purpose Project.  The project, estimated at Rs 115.5 billion, will be developed by Kishau Corporation Limited, a joint venture between the Governments of Himachal Pradesh and Uttarakhand.  It is located on the Tons River, a major Yamuna tributary, at the border of Dehradun district (Uttarakhand) and Sirmour (Himachal…

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BHEL and ONGC sign MoU for renewable energy projects

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Bharat Heavy Electricals (BHEL) and Oil & Natural Gas Corporation (ONGC) have signed a memorandum of understanding (MoU) to collaborate on projects in the new and renewable energy sector.  The partnership will focus on advanced technologies such as fuel cells, electrolysers, and battery energy storage systems, supporting India’s National Green Hydrogen Mission.  The collaboration aims to leverage the expertise of both entities to drive innovations in the clean energy ecosystem.  The MoU signing ceremony was…

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Adani Group commits Rs 600 billion to expand power plants in Chhattisgarh

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The Adani Group has committed Rs 600 billion to expand power plants in Raipur, Korba, and Raigarh, increasing its power generation capacity by 6,120 MW.  This investment was announced in a meeting with Chief Minister Vishnu Deo Sai on 12 January 2025. The plan aims to enhance the state’s industrial and social infrastructure, focusing on energy, cement, and corporate social responsibility (CSR) projects. Rs 50 billion will also be allocated to increase cement plant capacity….

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SECI surpasses 73 GW in renewable energy projects

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The Solar Energy Corporation of India (SECI) has reached a significant milestone, surpassing 73 GW in cumulative awarded capacity for renewable energy projects as of December 31, 2024.  SECI received an ‘Excellent’ rating for its performance under the memorandum of understanding (MoU) with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, scoring 96 out of 100.  The organization has also been awarded ‘Navratna’ status by the Ministry of Finance. As…

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Onix Renewable invites bids for solar power projects in Maharashtra

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Onix Renewable has invited expressions of interest to develop 1,959 MW of ground-mounted, fixed-tilt solar power projects across 252 locations in Maharashtra. Onix will supply solar modules and inverters for the projects. The bid submission deadline is January 17, 2025. Bidders must submit an earnest money deposit of Rs 50,000 per MW. Selected bidders will be responsible for the design, engineering, procurement, supply, erection, testing, and commissioning of the solar projects under an engineering, procurement,…

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IGX and CEGH sign MoU to develop natural gas and renewable gas markets

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Indian Gas Exchange Limited (IGX) and Central European Gas Hub AG (CEGH) have signed a Memorandum of Understanding (MoU) to collaborate on developing natural gas and renewable gas markets.  The partnership aims to leverage the market expertise of both parties to enhance technical, operational, and regulatory capabilities. They will focus on trading natural gas and renewable gases, including hydrogen, biomethane, and e-methane, along with commodity-related certificates. The collaboration seeks to create a liquid and transparent…

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Waaree Energies to acquire 100% stake in Enel Green Power India

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Waaree Energies Limited has signed an agreement to acquire 100% of Enel Green Power India Pvt Ltd (EGP India) from Enel Green Power Development S.R.L.  The acquisition, valued at Rs 7.92 billion, is subject to customary closing adjustments. EGP India operates a renewable energy platform with a net capacity of approximately 640 MW AC (760 MW DC) and a project pipeline of 2,500 MW across multiple states in India. This acquisition will strengthen Waaree’s position…

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JSW Energy acquires renewable energy assets from Hetero Group

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JSW Energy’s subsidiary, JSW Neo Energy, has acquired 125 MW of renewable energy assets from Hetero Group for an enterprise valuation of Rs 6.3 billion.  The portfolio includes wind power projects in Andhra Pradesh and Maharashtra, with long-term power purchase agreements.  The acquisition was made through three Special Purpose Vehicles (SPVs) owned by Hetero Labs Ltd and Hetero Drugs Ltd. The portfolio has a blended tariff of Rs 5.22 per kWh and an average remaining…

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Lupin completes acquisition of 42.61% stake in Sunsure Solarpark

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Lupin Limited has acquired a 42.61% equity stake in Sunsure Solarpark Seventeen Private Limited.  This follows the share subscription and shareholders agreement with Sunsure Solarpark and Sunsure Energy Private Limited, involving an equity investment of Rs 105.53 million, to be executed in two tranches.