Power Sector News Roundup for February 17, 2025

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Global: Adani Green withdraws from two wind projects in Sri Lanka Global electricity demand to rise 4% annually until 2027 Construction begins on subsea electricity superhighway India: MoP issues competitive bidding guidelines for pumped storage procurement Premier Energies secures Rs 12.34 billion solar module supply contracts PFC, Gensol, KPIL report income growth in Q3 FY25 BPCL partners with Eco Wave and NSI for wave energy and bioethanol projects BHEL wins Rs 67 billion contract for…

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Adani Green withdraws from two wind projects in Sri Lanka

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Adani Green Energy, part of India’s Adani Group, has decided to withdraw from two proposed wind power projects in Sri Lanka due to financial challenges. The decision follows recent discussions with the Sri Lankan government regarding the reduction of power generation costs. Sri Lanka’s capital, Colombo, had aimed to lower the cost of power to $0.06 per kilowatt hour, down from the initial $0.08. However, Adani Green Energy deemed the projects “financially unviable” in light…

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Global electricity demand to rise 4% annually until 2027

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According to the International Energy Agency (IEA), global electricity demand is projected to grow by 4% each year until 2027, equating to more than Japan’s total consumption. This growth will be primarily offset by the expansion of low-emissions energy sources, such as renewables and nuclear power. Emerging and developing economies will account for 85% of this demand growth, with China leading the charge. China’s power demand is expected to grow at an average rate of…

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Construction begins on subsea electricity superhighway

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Iberdrola announced that construction of the Eastern Green Link 1, a subsea electricity superhighway, has officially started.  The £2.5 billion project is a joint venture between SP Energy Networks and National Grid Electricity Transmission. It will transport renewable energy to power two million homes through over 190 km of undersea cables connecting Scotland and England. The project, approved by Ofgem last year, has now begun onshore construction, with offshore works scheduled to start in the…

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Sterlite commissions Nangalbibra-Bongaigaon Transmission Project

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Sterlite Power has announced the commissioning of the Nangalbibra─Bongaigaon Inter-State Power Transmission Project.  The project was implemented under a tariff-based competitive bidding (TBCB) process on a build, own, operate, and maintain (BOOM) basis. PFC Consulting Limited (PFCCL) was appointed as the bid process coordinator by the Ministry of Power (MoP) in September 2020. The scope of the project includes the establishment of a new 220/132 kV substation at Nangalbibra, which involves the installation of two…

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Reliance Industries acquires 100% stake in Lakadia B Power Transmission

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Reliance Industries Ltd (RIL) has formally acquired a 100% equity stake in Lakadia B Power Transmission Limited (LPTL), a special purpose vehicle (SPV) established for the development of the transmission system for the Augmentation of Transformation Capacity at the 765/400 kV Lakadia Substation (S/s) in Gujarat-Part B.  The acquisition follows the invitation of Request for Proposal (RFP) bids by REC Power Distribution Company Limited (REC PDCL) in September 2024. REC PDCL, appointed as the bid…

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BHEL wins Rs 67 billion contract for Singareni Stage-II project

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Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) worth Rs 67 billion from Singareni Collieries Company Limited (SCCL) for the engineering, procurement, and construction (EPC) package of the 1×800 MW Singareni Stage-II project, also known as the Adilabad Coal-Based Power Project Stage II. SCCL re-invited bids for the project in March 2024 after the initial invitation in November 2022. The contract involves the supply, erection, testing, and commissioning of the boiler,…

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BPCL partners with Eco Wave and NSI for wave energy and bioethanol projects

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Bharat Petroleum Corporation Limited (BPCL) has signed a Memorandum of Understanding (MoU) with Eco Wave Power Global AB to develop wave energy-based renewable power projects across India. Both companies will conduct a feasibility study to assess the deployment of wave energy projects. In the initial phase, a 100–300 kW pilot project will be installed at BPCL’s Mumbai Oil Terminals, serving as a foundation for larger commercial-scale installations. BPCL will handle regulatory approvals, permits, and land…

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PFC, Gensol, KPIL report income growth in Q3 FY25

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Power Finance Corporation Limited (PFC) reported a net profit of Rs 77.6 billion for the quarter ending December 2024, marking a 23.29 per cent increase from Rs 62.94 billion in the same quarter last year. The company’s total income grew by 13.69 per cent to Rs 268.22 billion from Rs 235.93 billion in the corresponding period of the previous year. Gensol Engineering Limited posted a net profit of Rs 0.18 billion in Q3 FY25, reflecting…

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MoP issues competitive bidding guidelines for pumped storage procurement

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The Ministry of Power has introduced tariff-based competitive bidding guidelines for procuring stored energy from existing, under-construction, or new Pumped Storage Projects (PSP). As per the National Electricity Plan 2023, India will require 74 GW/411 GWh of energy storage systems by 2031-32, including 27 GW/175 GWh from PSP and 47 GW/236 GWh from Battery Energy Storage Systems (BESS). Procurement Modes The procurement process follows two models: Mode 1 (Procurer-Identified Sites): The procurer identifies the site…