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Vikram Solar files for Rs 15 billion IPO with SEBI
Vikram Solar Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue worth up to Rs 15 billion and an offer-for-sale (OFS) of 17.45 million equity shares by its promoters. The face value of each equity share is Rs 10, with a reservation for eligible employees, offering them a discount in the subscription segment. The company may…
BHEL sees 23% growth in order inflows in H1FY25
Bharat Heavy Electricals Ltd (BHEL) reported a 23% increase in order inflows in the first half of FY25, reaching Rs 41.09 billion, up from Rs 33.48 billion in H1FY24. The power sector led the order bookings, contributing 93% of the inflows. As of September 30, 2024, BHEL’s outstanding order book stood at Rs 1.60 trillion, with 78.5% from the power sector, 19.1% from the industry sector, and 2.3% from exports. BHEL’s power T&D offerings fall…
Centre greenlights hydropower in Northeast with Rs 4.1 billion assistance
The Union Cabinet has approved central financial assistance for developing hydropower projects in the northeastern region (NER). The scheme, proposed by the Union power ministry, will provide financial support to state governments in NER for their equity participation in hydropower projects. The scheme has a budget of Rs 4.1 billion and will be implemented from FY25 to FY32. It aims to support the development of approximately 15,000 MW of hydropower capacity. Funding for the scheme…
NHPC-APGENCO to set up JV for 1.8 GW Pumped Storage Projects
NHPC and Andhra Pradesh Power Generation Corporation (APGENCO) have formed a joint venture to develop pumped hydro storage (PSP) projects and renewable energy initiatives. The venture will progress in phases to allow for future project identification and implementation. The first phase will focus on two PSPs: Yaganti PSP with a capacity of 1,000 MW and Rajupalem PSP with 800 MW. The JV will be equally owned by NHPC and APGENCO, starting with an initial paid-up…
Westbridge secures approval for Dolcy Solar + Energy Storage project in Alberta
Westbridge Renewable Energy’s subsidiary, Dolcy Solar, has received approval from the Alberta Utilities Commission (AUC) for its 300 MWac Dolcy Solar + Energy Storage project in Canada. The project includes a solar power plant with a capacity of up to 300MWac, paired with battery energy storage systems (BESS) capable of storing up to 200MWh of energy. It will also feature a substation for energy integration and distribution. The approval is subject to conditions outlined by…
UJVN issues tender for E&M works of 3×100 MW Lakhwar multipurpose project
Uttarakhand Jal Vidyut Nigam (UJVN) has issued a tender for the electro-mechanical (E&M) works of the 3×100 MW Lakhwar multipurpose project (MPP) in Dehradun, Uttarakhand. The project includes manufacturing, quality control, shop assembly, transportation, insurance until commissioning, delivery at site, erection, testing and commissioning, performance testing, handing over, and a two-year guarantee for the electro-mechanical equipment and systems on an engineering, procurement, and construction (EPC) basis. The contract, valued at Rs 5.96 billion, has a…