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Share of thermal power in India’s energy mix to decline by FY26 as renewables rise
The share of thermal power in India’s overall power generation is projected to decline to 67% by the fiscal year 2025-26, down from 73% in FY24, according to Crisil Ratings. While thermal power has met growing electricity demand over the past five years, the upcoming surge in renewable capacity—over 50 gigawatts (GW) by FY26—will outpace thermal power generation growth. This marks the first time incremental RE generation growth, at 20%, will surpass overall power demand…
Tongyeong Eco Power’s 1GW LNG Plant begins operations in South Korea
Tongyeong Eco Power’s combined-cycle power plant has commenced commercial operations in Gyeongsangnam-do, South Korea, with a capacity exceeding 1GW, supplying electricity to nearly one million households. The liquefied natural gas (LNG)-fueled plant aligns with South Korea’s strategy to transition from coal to LNG and includes a 200,000 cubic meter LNG storage tank. GE Vernova has provided critical components for the plant, including two 7HA.02 gas turbines, one STF-D600 steam turbine, two heat recovery steam generators…
Power ministry approves Rs 36 billion for modernizing NCR distribution networks
The Ministry of Power has approved Rs 36 billion for the modernization and upgrading of power distribution infrastructure in Gurugram and Faridabad. This decision, taken during an Inter-ministerial Monitoring Committee meeting, aims to address the rapidly growing power demand in these areas, increasing by 8-10% annually. The project, part of the Revamped Distribution Sector Scheme, will include the installation of 20 new Gas Insulated Substations (12 in Faridabad and 8 in Gurugram), the laying of…
PM Modi inaugurates 30 MW solar system and BESS project in Kutch
On September 16, 2024, Prime Minister Narendra Modi inaugurated key infrastructure projects in Gujarat, including a 30 MW solar system and a 35 MW Battery Energy Storage System (BESS) Solar PV Project at Kutch Lignite Thermal Power Station in Kutch. Additionally, he inaugurated 220 kV substations in Morbi and Rajkot. These projects form part of a broader development initiative, totaling over Rs 80 billion across multiple sectors.
Pilot Energy receives offer from for Three Springs solar plant in Australia
Pilot Energy has confirmed a non-binding A$11.5 million ($7.75 million) proposal from EDP Renewables APAC to acquire the 376 MW Three Springs solar photovoltaic power plant in Western Australia. The offer is structured in staged payments, with finalisation pending due diligence and an asset sale agreement by the end of 2024. Located 310 km north of Perth, the Three Springs solar project is a key component of Western Australia’s Mid-West Clean Energy Project, aimed at…
Adani Green repays USD 750 million Holdco Notes, avoiding refinancing
Adani Green Energy Ltd announced it has fully repaid its $750 million Holdco Notes, using cash reserves and a fully funded redemption reserve, without the need for refinancing. The 4.38% Holdco Notes, issued in September 2021 to fund the company’s expansion, were redeemed ahead of their September 8 due date, according to a stock exchange filing on September 9. The bonds supported Adani Green’s growth over the past three years, during which the company tripled…