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Apar Industries reports 25% YoY growth in transformer oil volume for Q2FY25

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Apar Industries recorded a 25% year-on-year increase in transformer oil volume in Q2FY25, driven by robust global demand. For the first half (H1) of FY25, transformer oil volume rose by 22.7%. Performance across other segments: ConductorsVolume growth remained flat in Q2FY25, primarily due to reduced exports amid increased competition from China and slow overseas demand. The export mix dropped to 18.7% from 48.3% in Q2FY24. Despite these challenges, premium products represented 42.2% of revenue in…

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Hitachi Energy achieves record order backlog of Rs 89.1 billion

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Hitachi Energy India Ltd reported a record-high order backlog of Rs 89.1 billion as of September 30, 2024, marking unprecedented revenue visibility for upcoming quarters.  Orders for the quarter ending September 30 totalled Rs 19.52 billion, reflecting an 11.7% year-on-year increase, driven largely by renewable projects in utilities, power quality, and substations.  Notable contributions also came from expansions and efficiency upgrades in existing plants, with significant orders from the transformer and power quality sectors spanning…

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Saboo Sodium Chloro expands captive solar plant at Nawa refinery

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Saboo Sodium Chloro (SSCL) has announced the expansion of its captive solar power plant at the Nawa refinery in Sambhar Lake, Rajasthan.  With an additional 150 kW, the facility’s total solar capacity now reaches 650 kW. EKAM Green Ventures has been appointed as the EPC contractor, with the project expected to be operational within ten days. This expansion is anticipated to generate annual energy cost savings of approximately Rs 4 million, enabling the refinery to…

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Tata Power partners with IndusInd Bank to finance solar installations for MSEs

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Tata Power Renewable Energy (TPREL) has partnered with IndusInd Bank to provide collateral-free solar financing options for micro and small enterprises (MSEs), offering loans ranging from Rs 1 million to Rs 20 million.  This partnership aims to support MSEs in adopting solar energy, reducing operational costs, and contributing to the green energy transition. Both public and private lenders are increasingly collaborating with solar companies to offer financing for commercial and residential projects. Last week, Solex…

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NTPC begins commercial operations of 32.9 MW solar plant in Bikaner

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NTPC has announced the commercial operations of a 32.9 MW solar plant in Bikaner, Rajasthan.  This is the third phase of the 300 MW Shambu ki Burj-2 (Kolayat) Solar PV Project, with operations commencing on October 31, 2024. With this addition, NTPC Group’s total installed and commercial capacity has reached 76,475.68 MW. The first phase of 150 MW and the second phase of 98.78 MW were already operational as of September. The Shambu ki Burj-2…

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Aurionpro Solutions wins Rs 1.5 billion contract for NCR Tier-III data centre

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Aurionpro Solutions has won a major Rs 1.5 billion contract for a Tier-III edge data centre in the National Capital Region (NCR), awarded by a leading data centre colocation provider in India. The contract encompasses full-scale design and turnkey construction for the edge data centre. Additionally, Aurionpro secured design consultancy contracts worth approximately Rs 200 million for two more projects in Mumbai and Chennai, supporting IT loads of 85 MW and 20 MW, respectively.

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Adani Power reports 50% drop in Q2 FY25 net profit despite revenue increase

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Adani Power Ltd reported a nearly 50% year-on-year drop in net profit for Q2 FY25, with earnings at Rs 33.17 billion, down from Rs 66.16 billion in the same quarter last year.  However, revenue from operations rose by 2.68% to Rs 133.39 billion, up from Rs 129.91 billion in Q2 FY24. EBITDA increased by 24.6% to Rs 54.02 billion, driven by higher sales volumes and reduced fuel and operating costs. The company noted that power…

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NTPC Green receives SEBI approval for Rs 100 billion IPO

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NTPC Green Energy, a subsidiary of NTPC Ltd, has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its Rs 100 billion initial public offering (IPO).  As India’s largest public sector renewable energy enterprise (excluding hydro) by capacity and power generation in FY 2024, NTPC Green Energy initially filed its IPO documents with SEBI on September 18, 2024. As of June 30, 2024, NTPC Green Energy managed 37 solar…

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Sany Wind secures wind turbine orders from JSW Group and Sembcorp

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Sany Wind Energy India has signed agreements to supply wind turbines with a total capacity exceeding 1.3 GW to three subsidiaries of the JSW Group.  Additionally, a 300 MW deal has been finalized with Sembcorp’s India branch, a subsidiary of Singapore’s state-owned energy company. While financial details and specific project locations remain undisclosed, these partnerships highlight Sany’s commitment to advancing wind energy in India. Sany Renewable Energy, a division of China’s Sany Group, reported strong…

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BHEL sees 23% growth in order inflows in H1FY25

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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…