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IOCL and TTD partner to establish 40 TPD biogas plant in Tirumala

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Indian Oil Corporation Limited (IOCL) has joined hands with Tirumala Tirupati Devasthanams (TTD) to build a 40 tonnes-per-day biogas plant in Tirumala, aiming to promote sustainable energy and effective waste management.  TTD’s Additional Executive Officer Ch. Venkaiah Chowdary laid the foundation stone for the project alongside IOCL’s Executive Director and State Head B. Anil Kumar. The biogas plant will use mixed waste, including banana leaves, food scraps, grass, dry leaves, fruits, and cow dung, to…

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Rosa Power becomes zero-debt company

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Rosa Power Supply Company, a subsidiary of Reliance Power, has achieved zero-debt status after prepaying Rs 13.18 billion to Singapore-based lender Varde Partners.  The company initially paid Rs 8.33 billion in September, followed by the remaining Rs 4.85 billion to complete its debt repayment ahead of schedule. The loan, taken in 2022 for refinancing and cost reduction, has now been fully cleared. Reliance Power is concurrently enhancing its financial stability through a Rs 15.25 billion…

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India’s energy storage capacity to rise 12-fold: SBICAPS report

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India’s energy storage capacity is projected to increase 12-fold to 60 GW by FY 2032, as outlined in a new SBICAPS report. This expansion is anticipated to outpace the growth in renewable energy (RE) sources, as RE tenders increasingly include storage, rising from 5% of projects in FY 2020 to 23% by FY 2024. Battery energy storage systems (BESS) are expected to make up the majority of this growth, with projected expansion to 42 GW…

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Serentica Renewables to establish 10 GW of RE projects in Andhra Pradesh

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Serentica Renewables has announced plans to develop renewable energy projects with a combined capacity of 10 GW in Andhra Pradesh, supporting both India’s clean energy goals and the state’s green vision.  This initiative aligns with Andhra Pradesh’s target of 72 GW in renewable capacity by 2030, providing a foundation for sustainable industrial growth in the region. Pratik Agarwal, Chairman of Serentica Renewables, emphasized the state’s renewable potential, stating, “Our 10 GW commitment is a bold…

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IEEFA urges Rajasthan and Gujarat to refine policies for RE transition

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Rajasthan and Gujarat, India’s leaders in renewable energy, are urged to implement policy adjustments to sustain their progress, according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA).  Vibhuti Garg, IEEFA’s director for South Asia, noted that while slower states need to ramp up clean energy efforts, even leading states like Rajasthan and Gujarat should monitor and fine-tune their strategies to avoid losing momentum. A notable gap identified is Rajasthan’s…

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IREL and UKTMP form Indo-Kazakh venture for titanium slag production in Odisha

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IREL (India) Limited, a CPSU under India’s Department of Atomic Energy (DAE), has partnered with Kazakhstan’s Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP) to establish IREUK Titanium Limited, a joint venture for producing titanium slag in Odisha, India.   IREUK Titanium Limited will leverage IREL’s surplus ilmenite production in Odisha, with UKTMP providing the technology for titanium slag production, converting low-grade ilmenite into high-grade titanium feedstock.   The collaboration benefits both nations: UKTMP, a supplier to aerospace…

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Apollo Green Energy targets Rs 100 billion project portfolio, IPO on horizon

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Apollo Green Energy Limited (AGEL), part of Apollo International Group, has announced plans to build a Rs 100 billion project portfolio by 2025.  Currently, its order book stands at Rs 35 billion, with active solar projects valued at Rs 25 billion under development across India. AGEL is preparing for a public listing in 2025 to support its expansion in renewable energy. The company reported significant revenue growth from Rs 3.25 billion in FY 2021-22 to…

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AVVNL invites bids for 269 MW solar projects under PM KUSUM

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Ajmer Vidyut Vitran Nigam Limited (AVVNL) has issued a bid invitation for 269 MW of grid-connected solar projects under Component A of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) scheme. The submission deadline is set for November 29, 2024. This project includes the design, supply, installation, testing, commissioning, and a 25-year operations and maintenance plan, with provisions for connecting the systems to 33/11 kV substations.

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MNRE invites proposals to set up R&D facilities for green hydrogen

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The Ministry of New and Renewable Energy (MNRE) has issued a call for proposals to establish Centers of Excellence (CoEs) under the National Green Hydrogen Mission’s (NGHM) Research and Development (R&D) programme, with a deadline of December 19, 2024.  Selected entities will receive financial support covering up to 50 per cent of project costs, aimed at advancing green hydrogen production, storage, and utilisation. The CoEs will facilitate research, skill development, and industry collaboration to foster…

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SJVN reports net profit of Rs 4,399 million in the Q2 of 2024-25

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SJVN Limited has announced its financial results for the quarter ending September 2024 (Q2 FY25), reporting a consolidated net profit of Rs 4,399 million, a slight increase from Rs 4,396.4 million in the same period last year.  The company’s total income rose by approximately 16.48% to Rs 11,084.3 million, up from Rs 9,516.2 million in the corresponding quarter of the previous year.