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Reliance Power wins 500 MW Battery Energy Storage contract from SECI
Reliance Power has secured a contract from the Solar Energy Corporation of India (SECI) to establish a 500 MW/1000 MWh Battery Energy Storage System (BESS). Awarded through a tariff-based competitive bidding (TBCB) process, the standalone BESS will operate on a build, own, and operate (BOO) model for ‘on demand’ usage, marking the company’s entry into the renewable energy and storage sector. Reliance Power will oversee the entire project, including land identification, installation, approvals, and interconnection…
Congress accuses government of breaking promise on Nagarnar Steel Plant privatization
The Congress party has accused the government of reneging on its promise to keep the Nagarnar Steel Plant in Chhattisgarh’s Bastar region under public ownership. Jairam Ramesh, Congress General Secretary, cited a media report indicating that the Union Ministry of Finance is likely to invite bids for privatizing NMDC Steel (NSL) within the next two months. Ramesh criticized the move, pointing out that Prime Minister Narendra Modi had assured on October 3, 2023, that the…
India signs MoU with IEA for critical minerals cooperation
The Ministry of Mines has signed a memorandum of understanding (MoU) with the International Energy Agency (IEA) to advance cooperation in critical minerals. This agreement, recently approved by the Cabinet, will grant India access to IEA’s data, analysis, and policy recommendations, aiding in refining policies, regulations, and investment strategies to align with global standards. The collaboration is expected to enhance India’s technical capabilities and institutional strength in the critical mineral sector, fostering capacity building and…
JBIC signs loan agreements with ADNOC for renewable energy and decarbonisation projects
The Japan Bank for International Cooperation (JBIC) has signed two project loan agreements with Abu Dhabi National Oil Company (ADNOC), totalling approximately $341 million and $130 million under a credit line established in July 2024. The loans are co-financed by Mizuho Bank Limited, Sumitomo Mitsui Banking Corporation, MUFG Bank, Limited, and The Hongkong Shanghai Banking Corporation Limited, Tokyo Branch, raising the total financing to $569 million and $217 million, respectively. These loans, part of JBIC’s…
CERC releases draft amendment for transmission charges and losses regulations
The Central Electricity Regulatory Commission (CERC) has issued the draft CERC (Sharing of Inter-State Transmission Charges and Losses) (Fourth Amendment) Regulations, 2024. Key changes include the introduction of definitions for “Tariff Regulations, 2024” and “Terminal Bay.” Amendments to regulation 12 focus on handling transmission deviations for generating stations with dual connectivity to both inter-state and intra-state transmission systems. Regulation 13 proposes waivers for transmission charges for hydro pumped storage projects (PSP), energy storage systems (ESS),…
SLB expands partnership with NVIDIA to develop generative AI solutions for energy sector
Energy technology company SLB has deepened its partnership with NVIDIA to develop generative AI solutions tailored to the energy industry. The collaboration will integrate industry-specific generative AI models into SLB’s platforms, such as the Delfi digital platform and the Lumi data and AI platform, to enhance data management and technical processes in energy production and exploration. The partnership will utilize NVIDIA’s NeMo from the AI Enterprise suite to create custom generative AI solutions that operate…