Adani Energy Solutions Limited (AESL) has acquired Progressive Grid Networks Limited (PGNL) in Kenya to explore power transmission opportunities across East Africa.
PGNL’s initial share capital stands at KES 1 billion, divided into 100,000 ordinary shares valued at KES 1,000 each. Through this acquisition, AESL secures full ownership by acquiring 100 per cent of the shares through cash consideration.
REC Limited and Power Finance Corporation (PFC) have both posted significant profit growth for the first quarter of FY26. REC reported its highest-ever quarterly net profit of Rs 4,451 crore, marking a 29 per cent rise compared to the previous year. Disbursements for the quarter reached Rs 59,508 crore, a 36 per cent increase year-on-year….
The International Energy Agency’s Renewables 2025 report highlights how the expansion of renewable energy has reduced fossil fuel import dependence across more than 100 countries. The study compares actual developments with a “low renewable-energy source” scenario in which nations stopped building wind, solar, and other non-hydropower projects after 2010. Between 2010 and 2023, the world…
Power Grid Corporation of India (PGCIL) reported a 2.5 per cent fall in net profit to Rs 3,630.58 crore. Revenue rose 2 per cent to Rs 11,196 crore. Net profit margin slipped to 32 per cent from 34 per cent. Operating margin was stable at 85 per cent. Segment-wise, consultancy revenue grew 120 per cent…
The World Bank has approved a $134 million operation to support the green hydrogen strategy of the Pecém Industrial and Port Complex Company (CIPP) and the Government of Ceará. Located in Northeastern Brazil, CIPP is one of the country’s most advanced logistics and industrial zones and is emerging as a key site for green hydrogen…
ANDRITZ has secured a contract from Tata Power to supply generating units for the 1,000 MW Bhivpuri pumped storage project (PSP) in Maharashtra. The order, valued in the low three-digit million euro range, will be booked in ANDRITZ’s first quarter 2026 order intake. Under the contract, ANDRITZ will design, manufacture, install, test, and commission three…
Vestas has won a 390 MW turbine order for the Shinan-Ui offshore wind project in South Korea, marking its first offshore wind contract in the country. The project includes a long-term service deal and supports South Korea’s expanding offshore wind pipeline. The order comes from Shinan-Ui Offshore Wind, a consortium of Hanwha Ocean, SK Eternix,…