India

The East Coast Railway (ECoR) plans to install 21,826 KWP of solar power across its network, targeting savings of Rs 140 million in energy costs and Rs 9.14 million in carbon credits annually. The project will cover 149 station buildings, 248 service buildings, 6,924 residential buildings, and 366 level crossing gates. Tenders worth Rs 837.9 million have been issued for solar installations on rooftops and shed tops across various railway sections, including Brahmapur-Palasa, Bhubaneswar-Cuttack-Paradeep-Bhadrak, and…

Sterlite Power announced it secured orders worth Rs 15 billion across its Global Products and Services (GPS) business in Q1 FY25. These new orders, both domestic and international, add to the company’s total order book, which stood at over Rs 65.6 billion at the beginning of the financial year. Sterlite Power secured major orders for high-performance conductors and Optical Ground Wire (OPGW), especially for Tariff Based Competitive Bidding (TBCB) transmission projects. This has helped maintain…

Projects totalling Rs 2.62 trillion have been sanctioned under the Revamped Distribution Sector Scheme (RDSS), as informed in Parliament. These projects encompass power distribution infrastructure works and smart metering deployment. The RDSS, with a total outlay of Rs 3.04 trillion and gross budgetary support of Rs 0.98 trillion, runs from FY22 to FY26 and aims to roll out 250 million smart energy meters. Additionally, through schemes like Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated…

The National Committee on Transmission (NCT) is considering a subsea High Voltage Direct Current (HVDC) line to meet the rising power demand in the Andaman & Nicobar Islands (ANI). This project aims to address ANI’s projected peak demand of 79 MW by FY30 and reduce reliance on diesel generators, which currently supply a significant portion of the Union territory’s power. The proposed HVDC link will deliver electricity from Paradeep, Odisha, through a ±320kV, 500-MW HVDC…

KEI Industries undertook capital expenditure (capex) of approximately Rs 1.45 billion in the first quarter of FY25, focusing mainly on a new greenfield plant in Sanand, Gujarat. The company spent Rs 760 million on the Sanand plant, while the remaining Rs 690 million was allocated to brownfield expansions across other facilities, including Chinchpada (Rs 240 million), Bhiwadi (Rs 210 million), and Pathredi (Rs 140 million). The Chinchpada plant in Silvassa will see increased wire and…

Fintech firm MOS Utility’s board has proposed a foray into the solar business, approving the alteration of the object clause in its Memorandum of Association. The new clause will enable MOS Utility to manufacture, assemble, purchase, import, and export various solar products, including PV modules, cells, batteries, energy storage devices, and related equipment and accessories. This strategic move aims to tap into growth opportunities within the solar market, aligning with global sustainability trends. The company…

Servotech Power Systems has secured a Rs 102 million order to deploy 1.2 MW of solar energy storage and grid-connected systems from the Rural Development Department of Uttar Pradesh and the Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA). The company will install multiple 75 kW solar-based energy storage systems and design, manufacture, supply, install, and commission 20 kW and 40 kW grid-connected solar power systems. This initiative aims to boost renewable energy penetration…

Neuron Energy, a key player in EV battery manufacturing, has raised Rs 200 million in its Series A funding round from investors including the Chona Family and Capri Global Family Office. The funds will enhance R&D capabilities and establish a state-of-the-art R&D lab in Pune, focusing on battery life, charging times, and cooling systems. The funding will also expand Neuron Energy’s manufacturing with a new 40,000 sq. ft. facility in Delhi, aiming to produce 100…

Revfin, a digital lending platform in India, has teamed up with Bajaj Auto to promote electric three-wheelers (e3Ws). This partnership aims to enhance the customer experience for Bajaj’s e3Ws, particularly in Tier-2 and Tier-3 cities, using Revfin’s psychometric assessment capabilities. The collaboration will also focus on developing infrastructure, such as charging networks, to support the widespread adoption of e3Ws.

Tata Power announced a consolidated net profit of Rs 11.89 billion for Q1 FY25, marking a 31% year-on-year increase driven by operational efficiency. The company highlighted this as its highest-ever profit and the 19th consecutive quarter of profit growth, attributing success to strong performance across its generation, transmission, distribution, and renewables businesses. These sectors contributed 84% of the profit after tax (PAT) in Q1 FY25, up from 72% in the same period last year. The…