Power Sector News Roundup for February 27, 2025

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Global: AMEA Power to develop 1500 MWh battery storage projects in Egypt India: SECL commissions rapid loading system at Dipka Power Mech secures Rs 1.65 billion contract for Koderma power expansion Adani, Tata Power to invest Rs 800 billion in Assam’s infrastructure Jyoti Structures secures Rs 4 billion contract for Adani’s 765 kV transmission line IREDA to raise Rs 50 billion via QIP IRFC sanctions loan to NTPC REL for renewable energy projects Gensol Engineering…

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AMEA Power to develop 1500 MWh BESS in Egypt

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AMEA Power has signed an agreement with the Egyptian Electricity Transmission Company (EETC) to develop two standalone battery energy storage systems (BESS) with a total capacity of 1500 megawatt-hours (MWh). Under the deal, AMEA Power will build a 500 MWh BESS station in Benban and a 1000 MWh BESS station in Zafarana. The project includes the development of substations and grid connections to integrate stored energy into Egypt’s national electricity network. The project locations were…

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MNRE proposes REEFO for consistent RE funding

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The Ministry of New and Renewable Energy (MNRE) has proposed a renewable energy financing obligation (REEFO) to ensure dedicated financial support for India’s renewable energy sector. Similar to Renewable Purchase Obligations (RPOs) for discoms, REEFO would require financial institutions to allocate a portion of their lending to renewable energy projects. This initiative aims to secure consistent and affordable capital for solar, wind, and green hydrogen projects while de-risking investments in emerging clean energy technologies. MNRE…

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Torrent Green forms five new subsidiaries for RE projects

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Torrent Green Energy Private Limited (TGEPL), a wholly-owned subsidiary of Torrent Power Limited (TPL), has incorporated five subsidiaries to implement renewable energy (RE) projects in India. The new subsidiaries are Torrent Urja 32 Private Limited (TU32), Torrent Urja 33 Private Limited, Torrent Urja 34 Private Limited, Torrent Urja 35 Private Limited (TU35), and Torrent Urja 36 Private Limited. These companies will focus on power generation, transmission, distribution, procurement, trading, import, export, storage, and the production…

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Gensol Engineering plans Rs 3.5 billion sale of US subsidiary

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Gensol Engineering Limited has signed a non-binding term sheet for a Rs 3.5 billion strategic transaction to sell its US subsidiary, Scorpius Trackers, to a major renewable energy solutions provider in the US.  The deal includes the transfer of exclusive global intellectual property rights for Scorpius Trackers’ advanced solar tracking technology. The transaction will be completed in two tranches, with full closure expected by March 2026, subject to due diligence and regulatory approvals. Proceeds from…

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IRFC sanctions loan to NTPC REL for renewable energy projects

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Indian Railway Finance Corporation (IRFC) has sanctioned a rupee term loan of Rs 75 billion to NTPC Renewable Energy Limited (NTPC REL), a subsidiary of NTPC Green Energy Limited.   In January 2025, NTPC REL invited bids for up to Rs 200 billion for capital expenditure on various projects, including loan refinancing and general corporate purposes. The funding will support the development of renewable energy projects, including solar, wind, and hybrid systems with or without storage,…

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IREDA to raise Rs 50 billion via QIP

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The Indian Renewable Energy Development Agency Limited (IREDA) has approved plans to raise up to Rs 50 billion through a qualified institutions placement (QIP) of equity shares in multiple tranches. Additionally, IREDA’s wholly owned subsidiary, IREDA Global Green Energy Finance IFSC Limited, has received registration from the International Financial Services Centre Authority to operate as a finance company at GIFT City, Gujarat. This will enable foreign currency lending while mitigating hedging risks. The move aligns…

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Jyoti Structures secures Rs 4 bn contract for Adani’s 765 kV transmission line

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Jyoti Structures Limited has received a Rs 3.89 billion Notification of Award (NoA) from Adani Energy Solutions Limited (AESL) for the 765 kV DC transmission line 1B of Boisar II-Pune III.  The contract includes tower supply, survey, soil investigation, foundations, erection, stringing, testing, and commissioning on a turnkey basis. The project is part of the Transmission System for Evacuation of Power from the potential renewable energy zone in Khavda, Gujarat, under Phase-IV (7GW): Part D…

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Adani, Tata Power to invest Rs 800 billion in Assam’s infrastructure

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Adani Group has announced an investment of Rs 500 billion in Assam for airports, aerocities, city gas distribution, power transmission, cement, and road projects.  The announcement was made at the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati, where investors, policymakers, and industry leaders discussed the state’s economic potential. Additionally, Tata Power has signed an MoU with the Government of Assam to develop 5,000 MW of renewable energy and storage projects, including solar,…

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Power Mech secures Rs 1.65 billion contract for Koderma power expansion

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Power Mech Projects Limited has secured a Rs 1.65 billion contract from Bharat Heavy Electricals Limited (BHEL) for the 2×800 MW Koderma Thermal Power Expansion Project.  The contract covers main supply, design and engineering, mandatory spares, and civil works, including erection and commissioning. The work is expected to be completed within 30 months. Koderma Thermal Power Station, located in Hirodih, Chandwara, Jharkhand, has an existing capacity of 1,000 MW. Unit 1 (500 MW) was commissioned…