Power Sector News Roundup for March 17, 2025

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Global: UK pushes China on climate action amid global energy shifts India: JSW Neo Energy acquires Virya Infrapower for Rs 75.4 million Gensol Engineering to raise Rs 6 billion, aims for zero net-debt REC to finance pumped storage projects in Kerala Indian and Russian firms partner for advanced grid monitoring solutions Salzer Electronics wins Rs 500 million smart meter order PFCCL empanels ten AMISPs for smart metering projects under RDSS UPNEDA awards 980.3 MW solar…

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UK pushes China on climate action amid global energy shifts

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UK Energy Minister Ed Miliband met Chinese officials in Beijing on March 17, urging stronger climate action even as China’s emissions continue to rise.   China, the world’s largest emitter, has pledged to reach net zero by 2060 but missed key climate targets in 2024, with coal use increasing. The UK, aiming for full decarbonization by 2050, is looking to strengthen cooperation. Miliband launched the China-UK Energy Dialogue, arguing that ignoring China’s role in the climate…

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JSW Neo Energy acquires Virya Infrapower for Rs 75.4 million

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JSW Neo Energy Limited has completed the acquisition of a 100 per cent equity stake in Virya Infrapower Private Limited for an enterprise value of Rs 75.4 million.  The transaction, finalized on the same day as the signing of the share purchase agreement (SPA), was executed through a 100 per cent cash consideration, subject to post-closing adjustments. With this acquisition, JSW Neo Energy gains access to a ready renewable power site with the necessary infrastructure…

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Gensol Engineering to raise Rs 6 billion, aims for zero net-debt

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Gensol Engineering Limited has approved fundraising of up to Rs 6 billion to strengthen its balance sheet and move towards a zero net-debt position. The company plans to raise Rs 4 billion through foreign currency convertible bonds (FCCBs) and Rs 2 billion via warrants issued to promoters. Alongside the fundraise, Gensol is divesting assets, including vehicle sales and the sale of a subsidiary, to further enhance financial stability. The company expects these divestments to generate…

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REC to finance pumped storage projects in Kerala

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REC Limited has signed a memorandum of understanding (MoU) with the Energy Management Centre (EMC), Government of Kerala, to finance pumped storage projects (PSPs) in the state over the next five years. The investment, estimated at Rs 183.6 billion, aims to enhance grid stability and facilitate the integration of renewable energy. The PSPs will play a crucial role in Kerala’s long-term energy strategy, which focuses on sustainable and efficient power management. As renewable energy sources…

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Indian and Russian firms partner for advanced grid monitoring solutions

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Sharika Enterprises Ltd has signed a memorandum of understanding (MoU) with Russia’s Engineering Center Energoservice (ENS) to bring advanced grid monitoring solutions to India.   Under the agreement, Sharika Enterprises has secured exclusive rights to market and distribute ENS’s advanced grid protection and condition monitoring solutions, including transformer monitoring systems. These systems use synchrophasor measurements to provide real-time data and analytics, helping to reduce operational risks and prevent costly downtimes. One of the key products in…

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Salzer Electronics wins Rs 500 million smart meter order

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Salzer Electronics Ltd has secured a Rs 500 million smart meter order from a leading advanced metering infrastructure service provider (AMISP) in India. This follows a Rs 50 million order last month from the same customer.  With a production capacity of 4 million smart meters, Salzer’s Tamil Nadu facility is ready to meet rising demand.   “We take pride in partnering with the government’s Revamped Distribution Sector Scheme (RDSS) to modernize the power sector with smart…

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PFCCL empanels ten AMISPs for smart metering projects under RDSS

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PFC Consulting Ltd (PFCCL) has empanelled ten entities that would be eligible to participate as Advanced Metering Infrastructure Service Providers (AMISP) for smart metering projects under the Revamped Distribution Sector Scheme (RDSS). PFCCL would be associated with such projects as a project implementation agency (PIA). The empanelment has been done under four groups, depending on the size of the projects in terms of the number of smart prepaid meters involved. Group 1 includes projects with…

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UPNEDA awards 980.3 MW solar contracts to 26 firms under PM-KUSUM

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The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has issued Letters of Award (LoAs) to 26 firms for developing a total of 980.3 MW grid-connected solar power plants under the Renewable Energy Service Company (RESCO) model. These projects, awarded under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme, will be set up across various locations in Uttar Pradesh. List of winning firms and awarded capacities: Inderjit Mehta Constructions Private Limited…