Author: PPD Team Date: 12/11/2024
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.
Author: PPD Team Date: 26/11/2024 Siemens Limited posted strong Q4 FY 2024 financial results, with a 45% increase in profit after tax to Rs 7.75 billion and an 11% revenue rise to Rs 58.94 billion. New orders grew by 37% to Rs 61.64 billion. For the financial year ending September 30, 2024, the company reported a 14% revenue increase to Rs 202.5 billion and a 39% rise in profit after tax to Rs 26.65 billion….
Author: PPD Team Date: 24/10/2024 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…
Author: PPD Team Date: 08/08/2025 The Ministry of New and Renewable Energy (MNRE) has updated its guidelines for listing co-branded solar photovoltaic (PV) modules under the Approved Models and Manufacturers (ALMM) Order, 2019. The amendments introduce expanded eligibility, longer validity, and stricter transparency norms. Under the revised framework, co-branding is now allowed in two cases. In Case I, both the brand owner and the original equipment manufacturer (OEM) must be ALMM-listed, as per existing rules….
Author: PPD Team Date: 12/09/2024 The Ministry of New and Renewable Energy (MNRE) has unveiled draft guidelines for financial assistance and payment security under the ‘PM Surya Ghar—Muft Bijli Yojana‘ rooftop solar scheme. These guidelines focus on providing central financial assistance to residential consumers through Renewable Energy Services Company (RESCO) and Utility Led Aggregation (ULA) models. The scheme is set to run until March 31, 2027. Under the RESCO model, a third-party renewable energy company…
Author: PPD Team Date: 23/07/2025 The Department of Public Enterprises (DPE) has approved a restructuring plan for the boards of NTPC subsidiaries THDC India Ltd (THDCIL) and North Eastern Electric Power Corporation Ltd (NEEPCO), according to a communication reviewed by Mint. The move is part of a broader strategy to streamline operations as India expands its hydropower capacity along its eastern and northwestern borders. The DPE has agreed to redesignate the managing director position and…
Author: PPD Team Date: 20/01/2025 AZAD Engineering Limited has entered a long-term agreement with GE Vernova International LLC, USA, to supply advanced rotating and stationary airfoils for gas turbine engines. Valued at approximately USD 112 million, the agreement will support GE Vernova’s global power generation needs and further solidify the strategic partnership between the two companies.