Power Sector News Roundup for February 13, 2025

Global: Ukraine’s parliament approves purchase of Russian-made reactors US power consumption forecasted to hit record levels in 2025 and 2026 UK unveils Clean Industry Bonus to support offshore wind projects Iraq finalizes agreement with Linxon for 400 kV substation rehabilitation India: India’s solar PV exports surge to $1.97 billion in FY 2023-24 EESL signs Rs 5 billion agreements for large-scale energy efficiency CISF signs PPA with NTPC for rooftop solar project across 16 campuses L&T…

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Iraq finalizes agreement with Linxon for 400 kV substation rehabilitation

The Iraqi Ministry of Electricity has finalized agreements with Linxon to rehabilitate three 400 kV bulk supply point substations located in North and South Baghdad and Diyala. Linxon, a company formed by combining AtkinsRéalis’ project management expertise with Hitachi Energy’s technological knowledge, brings over 60 years of experience in substation and electrification projects worldwide. The rehabilitation projects are part of Iraq’s electrical super grid expansion and will be financed through loans from Swedish Svensk Exportkredit…

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UK unveils Clean Industry Bonus to support offshore wind projects

The UK has launched the Clean Industry Bonus (CIB), a new incentive scheme aimed at supporting offshore wind projects and advancing the country’s goal of decarbonising its energy system by 2030. Set out in the Contracts for Difference (Allocation) Regulations 2014 and the Electricity Market Reform (General) Regulations 2014, the scheme will provide an initial £27 million ($33.5 million) in funding for each gigawatt (GW) of capacity awarded to successful offshore wind project bidders, as…

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US power consumption forecasted to hit record levels in 2025 and 2026

The US Energy Information Administration (EIA) has forecast that power consumption in the United States will reach record levels in 2025 and 2026. The surge is attributed to the growing electricity demand from data centres focused on artificial intelligence and cryptocurrency, alongside increased usage in homes and businesses for heating and transportation, as reported by Reuters. The EIA projects that power demand will rise to 4,179 billion kilowatt-hours (kWh) in 2025, and increase further to…

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Ukraine’s parliament approves purchase of Russian-made reactors

Ukraine’s parliament has approved the purchase of two Russian-made reactors from Bulgaria for the Khmelnytskyi Nuclear Power Plant, as confirmed by lawmaker Yaroslav Zhelezniak on February 11, 2025. President Volodymyr Zelensky had urged lawmakers to approve the project, calling it “key to energy independence” for Ukraine. Bulgaria has offered to sell its unused 15-year-old VVER-1000 reactors and other equipment for units 3 and 4 of the western Ukrainian nuclear power plant, which has been targeted…

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Eastman Auto partners with Urja Mobility for lithium-ion battery technology

Eastman Auto and Power Limited (EAPL), through its subsidiary Eastman New Energy Private Limited, has signed a Memorandum of Understanding (MoU) with MTOW Mobility Private Limited (Urja Mobility) to collaborate on developing and deploying lithium-ion battery technology for India’s growing electric vehicle (EV) market. As part of the partnership, Urja Mobility has committed to sourcing over 20,000 lithium-ion batteries from Eastman to support its nationwide battery leasing initiatives. Additionally, Eastman will integrate Urja Mobility’s IoT…

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Salzer Electronics delivers first smart meter order

Salzer Electronics Ltd, a new player in the smart meter manufacturing industry, has successfully delivered its first commercial order of 25,000 smart meters, valued at approximately Rs 50 million, during the third quarter (Q3: October to December) of FY25. The company is optimistic about receiving further orders from the same client. Rajesh Doraiswamy, Joint Managing Director of Salzer Electronics, expressed pride in the achievement, stating that the dispatch of the 25,000 smart meters represents a…

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Schneider Electric to invest in expanding transformer manufacturing

Schneider Electric Infrastructure Ltd (SEIL) has announced plans to expand its medium power transformer manufacturing capacity. In a regulatory filing on February 11, 2025,  SEIL revealed that its board of directors approved an investment of Rs 136 million to enhance the existing capacity by 1,500 MVA per year. The investment will be financed through internal accruals and/or borrowings. The capacity expansion aims to meet the growing market demand and support the company’s growth objectives in…

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Ministry of Coal awards Rs 85 billion for coal gasification projects

The Ministry of Coal has issued letters of award (LoAs) under Category II of the Rs 85 billion coal gasification incentive scheme (CGIS) to selected applicants. Jindal Steel and Power Limited was awarded Rs 5.69 billion for a 2 million tonnes per annum (mtpa) coal gasification project in Angul, Odisha, aimed at producing direct reduced iron (DRI) and implementing carbon capture for carbon dioxide utilization.  New Era Cleantech Solution Private Limited received Rs 10 billion…

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SIDBI and AFD sign $100 million credit facility to boost green finance for MSMEs

The Small Industries Development Bank of India (SIDBI) and Agence Française de Développement (AFD) have signed a $100 million credit facility agreement aimed at enhancing green finance solutions for micro, small, and medium enterprises (MSMEs) in India.  Under the agreement, AFD will provide SIDBI with a $100 million credit line, which will be used to offer MSMEs access to affordable financing for energy-efficient technologies, renewable energy solutions, and climate-friendly business practices. This initiative combines AFD’s…