Inox Wind Limited has announced a net profit of Rs 902.2 million for the quarter ending September 2024, contrasting with a loss of Rs 292.3 million in the same quarter last year.
Total income rose significantly, increasing by 93 percent to Rs 7,417.4 million, compared to Rs 3,844 million in the same period the previous year.
Bangladesh’s power sector is currently undergoing aggressive expansion with a focus on fossil-fuel-based capacity, leading to challenges such as overcapacity, high generation costs, revenue shortfalls, and a growing subsidy burden. The sector’s overcapacity is evident with an installed generation capacity of 28,166 MW compared to a peak demand of just 17,200 MW, resulting in a surplus of 38.9%, which rises to over 60% during the winter. This surplus is particularly problematic because the system is…
India registered a record 15 GW of solar installations in the first half of 2024, as developers rushed to complete previously delayed projects, according to a report by US-based research firm Mercom Capital. This is a 282% increase compared to the 3.89 GW added during the same period in 2023. The report, titled ‘India Solar Market Update,’ highlighted that this surge in installations has set a new record for solar capacity additions in the country….
Adani Group companies Adani Green Energy Limited (AGEL) and Adani Energy Solutions Limited (AESL) have become the first Indian firms in the renewable energy and transmission & distribution (T&D) sectors, respectively, to join the Utilities for Net Zero Alliance (UNEZA). The alliance, under the guidance of the International Renewable Energy Agency (IRENA) and the UN Climate Change High-Level Champions, aims to promote renewable energy grids and clean energy solutions globally. Both AGEL and AESL aim…
New Zealand is at “significant risk” of missing its 2030 and 2035 domestic emissions reduction targets, according to the Climate Commission. The country is shifting its focus from environmental policies to supporting heavily emitting sectors to boost its economy. The Climate Change Commission’s recent report indicates that while New Zealand is on track to meet its first 2022–25 emissions budget, future emissions budgets and reduction targets are in jeopardy. This shift follows the election of…
X-ELIO has announced the expansion of its Blue Grass Solar Farm, located in Queensland’s Western Downs, by integrating a 148 MW Battery Energy Storage System (BESS). This marks X-ELIO’s first hybrid solar and storage project in Australia. The project will be developed in two phases: the first phase will deliver 60 MW BESS by 2025, followed by an additional 88 MW BESS in the second phase by 2026. The 200 MW solar farm, operational since…
Canadian Solar’s subsidiary Recurrent Energy has signed two 20-year tolling agreements with Arizona Public Service Company (APS), set to boost Arizona’s renewable energy capacity by 2026. The agreements cover the Desert Bloom Storage (600MWh) and Papago Solar (150MWac) projects, both located in Maricopa County, with construction starting in 2025 and operations slated for 2026. These projects join last year’s 20-year tolling agreement for the 1,200MWh Papago Storage project, which will become Arizona’s largest standalone energy…
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