Power Sector News Roundup for January 29, 2025

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Global: Vena Energy and CIP awarded offtake contract for Taean Wind Project in South Korea Chevron, Engine No.1, GE Vernova to build first U.S. multi-GW power plant, data center EU to provide €30m aid to Moldova for energy crisis relief India: Avaada Group to invest Rs 207 billion in renewable energy projects in Odisha BEE and TERI to establish energy transition centre in Hyderabad Arunachal Pradesh begins pre-feasibility tests for Upper Siang project BAJEL secures…

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EU to provide €30m aid to Moldova for energy crisis relief

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The EU will offer €30m ($31.4m) in emergency assistance to Moldova, including the separatist Transnistrian region, until 10 February 2025.  The aid follows Russian gas supplier Gazprom’s failure to deliver natural gas, leaving over 350,000 people without electricity and heating. Moldova declared a 60-day national state of emergency starting 16 December 2024 due to expected gas cuts. The package will support electricity restoration and explore coal deliveries from Ukraine. It also includes assistance for electricity…

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Chevron, Engine No.1, GE Vernova to build first U.S. multi-GW power plant, data center

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Chevron USA and Engine No.1 have joined forces to create a new company for developing natural gas-fired power plants to support US-based AI data centres, in collaboration with GE Vernova.  This initiative addresses the increasing demand for affordable and reliable energy essential for AI development in the US. The project aims to deliver up to 4GW of power by 2027, with the potential for future growth. The first multi-gigawatt-scale power plant and data centre, called…

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Vena Energy and CIP awarded offtake contract for Taean Wind Project in South Korea

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Vena Energy and Copenhagen Infrastructure Partners (CIP) have secured an offtake contract for their joint 500 MW Taean Wind Project in South Korea, awarded in the Wind Power Fixed-Price Contract Auction by the Korea Energy Agency (KEA). The fixed-bottom offshore wind project is slated for construction in the second half of 2026, with commercial operations expected by late 2029. CIP acquired a 49% stake in the project through its flagship fund, Copenhagen Infrastructure V, in…

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CG Power plans Rs 7.12 billion investment for power transformer facility

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CG Power & Industrial Solutions Ltd (CG) will invest Rs 7.12 billion to build a greenfield power transformer plant, approved by its board on January 28, 2025.  The facility, slated for commissioning by March 2028, will produce 45,000 MVA annually, boosting CG’s total power transformer capacity to 85,000 MVA. The new plant will manufacture 220kV–765kV transformers for domestic and international markets. Land acquisition is underway. Expansion Timeline: Malanpur Unit (MP): Capacity increased from 25,000 MVA…

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GEDA introduces guidelines for offgrid solar, wind, and hybrid projects

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The Gujarat Energy Development Agency (GEDA) has introduced a comprehensive Standard Operating Procedure (SOP) for off-grid solar, wind, and wind-solar hybrid projects, with or without storage. This initiative is part of the Gujarat Renewable Energy Policy – 2023, aimed at facilitating Renewable Purchase Obligation (RPO) compliance and expanding access to clean energy solutions. Key Highlights of the SOP: Facilitating RPO Compliance: The SOP aims to help entities that are not connected to the state grid…

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Suzlon and NTPC report financial results for December 2024 quarter

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Suzlon Group’s net profit surged by 91% year-on-year, reaching Rs 3.88 billion. The company achieved its highest-ever quarterly deliveries, totalling 447 MW, bringing its nine-month total to 977 MW.  Revenue for the quarter grew by 42% from the previous quarter and 94% from the same period last year, amounting to $2.97 billion. Suzlon’s EBITDA increased by 102%, reaching $500 million, while its order book hit a record 5,500 MW. Meanwhile, NTPC Limited posted a net…

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BAJEL secures contract for 120 km transmission line in Rajasthan

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BAJEL Projects Limited, formerly Bajaj Electricals Limited, has received a Notification of Award from Power Grid Corporation of India Limited (PGCIL) for Transmission Line Package TL03.  The contract involves constructing a 120 km, 765 kV double-circuit transmission line (Dausa – Ghiror Part-III) under the Rajasthan Renewable Energy Zone (REZ) Phase-IV (Part-4: 3.5 GW) evacuation system.  PGCIL invited bids in September 2024, and the project is expected to be completed in 23 months.  REC Power Distribution…

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Arunachal Pradesh begins pre-feasibility tests for Upper Siang project

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The Government of Arunachal Pradesh has deployed drilling machines in Parong to conduct pre-feasibility testing for the Upper Siang Hydro Electric Project. North Eastern Electric Power Corporation Limited (NEEPCO), NHPC Limited, and the Government of Arunachal Pradesh (GoAP) will execute the 11,200 MW project in Parong, Siang district, through a joint venture (JV). THDC invites DPR bids for hydro projects in Maharashtra, Uttar Pradesh In related hydroelectric developments, THDC India Limited has invited bids for…

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BEE and TERI to establish energy transition centre in Hyderabad

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The Bureau of Energy Efficiency (BEE) and The Energy and Resources Institute (TERI) have signed an MoU to set up a Centre of Excellence for Energy Transition (CoEET) in Hyderabad. The centre will focus on research, innovation, and capacity-building in energy transition technologies and policies. Key areas include reducing greenhouse gas emissions, improving energy efficiency, and promoting low-carbon technologies across industries, MSMEs, buildings, transport, power, and mining sectors. It will advance energy-efficient technologies like motors,…