Similar Posts
Reliance Power settles Rs 38.72 billion guarantee for VIPL
Reliance Power Ltd has announced that it had fully settled its Rs 38.72 billion obligation as a guarantor for Vidarbha Industries Power (VIPL). The settlement has resulted in the release of all corporate guarantees, undertakings, and obligations linked to the outstanding debt. As part of the agreement, 100% of VIPL’s shares have been pledged to CFM Asset Reconstruction, relieving Reliance Power of its corporate guarantee commitments. The company also confirmed it is now debt-free with…
Shell Energy to acquire 609 MW combined-cycle gas turbine power plant in US
Shell Energy North America (SENA), a subsidiary of Shell, has agreed to acquire a 609 MW, two-unit combined-cycle gas turbine power plant located in Johnston, Rhode Island, US. The purchase agreement has been signed with RISEC Holdings, a subsidiary of EGCO RISEC II, and Carlyle’s subsidiaries, Cogentrix RISEC CPOCP and Cogentrix RISEC CPP II. EGCO RISEC II, part of Thailand’s Electricity Generating Public Company (EGCO), will divest 49% of its stake in the plant, while…
GAIL and VERBIO India sign MoU to establish agricultural residue-based CBG plants
GAIL (India) Limited and VERBIO India Private Limited have signed a memorandum of understanding (MoU) to collaborate on establishing compressed biogas (CBG) plants based on agricultural residues across India. The partnership will involve identifying suitable sites for greenfield CBG plants, conducting feasibility studies, and seeking investment approvals to form a joint venture (JV). Additionally, GAIL is considering acquiring an equity stake in VERBIO’s existing CBG plant in Punjab, further strengthening the collaboration.
Genus Power reports Rs 317.76 billion order book as of Q2FY25
Genus Power Infrastructures Ltd announced an outstanding order book of Rs 317.76 billion (net of taxes) as of September 30, 2024, including orders from the GIC platform and all company SPVs. This robust order book comprises long-term smart metering concessions of 8-10 years. Commenting on the company’s Q2FY25 performance, Joint Managing Director Jitendra Kumar Agarwal highlighted the strategic advantage provided by this strong order book. Execution is expected to ramp up in Q3FY25, with increasing…
Fadnavis announces scheme allowing farmers to sell surplus solar power to grid
Maharashtra’s Deputy Chief Minister Devendra Fadnavis announced a new scheme that will allow farmers to sell surplus electricity generated from their solar pump panels to the grid, offering them an additional source of income. He noted that before 2014, farmers faced difficulties in obtaining electricity connections, but the current administration has prioritised addressing this issue. Under the ‘Magel Tyala Solar Krushi Pump Scheme,’ farmers now receive solar pumps with a 90% subsidy, ensuring reliable daytime…
Report: July 2024 Power sector installed capacity overview
As of July 31, 2024, India’s total installed capacity for power generation reached 448,381.44 MW, covering various energy sources across different sectors and regions. The breakdown includes thermal power, which accounts for 242,996.91 MW, primarily derived from coal, lignite, gas, and diesel sources. Hydropower contributes 8,180 MW, covering major hydroelectric plants across the nation. Renewable energy sources (RES), which include solar, wind, biomass, and small hydro projects, account for 47,928.17 MW. Nuclear power adds another…