India’s Orient Electric reported a 27% fall in first-quarter profit, with higher expenses outweighing increased sales of fans and coolers amid the country’s scorching heat.
The company’s profit decreased to Rs 143.4 million for the quarter, down from Rs 196.9 million a year earlier. Revenue from operations grew by 7% to Rs 7.55 billion.
The National Committee on Transmission (NCT) recently recommended six interstate transmission system (ISTS) schemes with a total project outlay of nearly Rs 96.7 billion, to be implemented under the tariff-based competitive bidding (TBCB) mechanism. These schemes aim to enhance India’s power transmission infrastructure across various states. The first scheme focuses on developing a transmission system to supply power to green hydrogen and ammonia manufacturing in the Kandla area of Gujarat, with a planned capacity of…
Tata Power has qualified as one of the four bidders for the Eastern Region Expansion Scheme – XXXIX (ERES-XXXIX), a key interstate transmission system (ISTS) project in Odisha. Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) shortlisted Tata Power, Power Grid Corporation of India Ltd (PGCIL), Sterlite Power, and Adani Energy Solutions Ltd (AESL) under the tariff-based competitive bidding (TBCB) mechanism. The selected bidders will have their initial price bids opened, followed by…
The Energy Department in Karnataka has announced that residents can now delink their old Revenue Register (RR) number and link a new one to continue enjoying the benefits of the Gruha Jyoti scheme, which offers free electricity up to 200 units for domestic users. This update, marking the scheme’s first anniversary, ensures uninterrupted support for beneficiaries, even when they move to a new home. The Gruha Jyoti scheme is one of the five key promises…
The Australian Senate has approved the Net Zero Economy Authority (NZEA) Bill, establishing a standalone statutory authority to oversee the nation’s transition to net zero emissions by 2050. This move is part of Australia’s broader goal to cut emissions by 43% by 2030, based on 2005 levels. The NZEA will coordinate net zero initiatives across government and key stakeholders, ensuring consistent climate policy implementation. The authority aims to boost public and private sector participation in…
AMEA Power has announced plans to invest USD 800 million to develop Egypt’s largest solar photovoltaic (PV) plant and first utility-scale battery energy storage systems (BESS). The project, located in the Benban area of Aswan Governorate, will feature a 1,000 MW solar PV power plant alongside a 600 MWh BESS. Additionally, AMEA Power is constructing a 500 MW Abydos solar PV plant in Kom Ombo, Aswan Governorate, which will include a 300 MWh BESS. The…
REC Power Development & Consultancy Ltd (RECPDCL) has created three wholly-owned subsidiaries to develop interstate transmission system (ISTS) schemes across Gujarat, Rajasthan, and Jammu & Kashmir. On October 25, 2024, RECPDCL incorporated Banaskantha Transco Ltd as a special purpose vehicle (SPV) to implement the “Augmentation of transformation capacity at Banaskantha (Raghanesda) PS (GIS)” project in Gujarat. The bidder selection for this ISTS scheme will be carried out through the tariff-based competitive bidding (TBCB) mechanism. RECPDCL…
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