GE Power India has reached a settlement agreement with Navayuga Engineering Company (NECL) to resolve an ongoing arbitration related to the E&M Turnkey Contract. The dispute, ongoing since 2020, will be settled amicably.
As part of the full and final settlement, NECL has agreed to pay GE Power India a sum of Rs 314.5 million. The payment will be made in quarterly instalments, with the final instalment due in 2026.
Jakson Engineers Limited and the State Bank of India (SBI) have signed a Memorandum of Understanding (MOU) under the Surya Shakti Solar Finance programme to promote solar energy adoption across India. The partnership aims to increase solar power use in institutional, commercial, and industrial sectors. SBI will provide up to Rs 100 million in credit to commercial and industrial users, accelerating the rollout of rooftop solar projects. This collaboration supports the Prime Minister’s goal of…
The California Public Utilities Commission (CPUC) has introduced a centralized procurement strategy to boost clean energy, aiming to secure up to 10.6 GW of long-duration energy resources. The California Department of Water Resources (DWR) will handle procurement, targeting 7.6 GW of offshore wind, 1 GW of geothermal energy, 1 GW of multi-day long-duration energy storage, and 1 GW of long-duration energy storage with at least a 12-hour discharge period. The CPUC chose these technologies for…
Sterling and Wilson Renewable Energy (SWREL) has secured a domestic solar EPC order worth approximately Rs 5.5 billion for a 400 MW AC/633 MW DC project in Rajasthan. This order, from a leading private renewable IPP in India, includes engineering, design, testing, and commissioning, along with the supply and construction of a 33/220 kV switchyard. With this latest win, SWREL’s domestic order inflows have reached around Rs 9 billion in the second quarter of FY25,…
India has shown interest in joining Russia’s ambitious lunar nuclear power plant initiative, which aims to establish a base on the Moon in collaboration with China, according to reports from EurAsian Times and Russia’s state-owned agency Tass. Spearheaded by Rosatom, the project will develop a small nuclear power plant with a capacity of up to half a megawatt to power the lunar base’s operations. Rosatom chief Alexey Likhachev confirmed India’s and China’s interest in the…
Indian Renewable Energy Development Agency Limited (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise approximately Rs 45 billion via a fresh equity issue through qualified institutions placement (QIP). Following the equity raise, the Government of India plans to reduce its shareholding in IREDA by up to 7%, potentially in one or more stages.
The Ministry of Coal has opened bids for the 10th round and the second attempt of the 9th and 8th rounds of commercial coal mine auctions. In the 10th round, 43 bids were received for 16 out of the 61 mines on offer. However, in the second attempt of the 9th round, only 1 bid was submitted for the 5 mines available. No bids were received for the single mine offered in the second attempt…
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