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Skipper achieves record-high order book of Rs 65.9 billion

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Skipper Ltd announced its highest-ever closing order book of Rs 65.9 billion, with 85% from domestic orders and 15% from exports. The company recorded an order inflow of Rs 16.6 billion in Q2 FY25 (July to September 2024), with key domestic contracts from Power Grid Corporation of India Ltd (PGCIL) and state electricity boards. Export orders primarily came from North and South America. Year-to-date order inflows from April 1 to October 28, 2024, totaled Rs…

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CERC approves transmission tariff for Sirohi Transmission’s ISTS project

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The Central Electricity Regulatory Commission (CERC) has approved the annual transmission tariff of Rs 2.91 billion for Sirohi Transmission Ltd, a wholly-owned subsidiary of Power Grid Corporation of India Ltd (PGCIL), for its ISTS scheme.  This project, named “Transmission system for evacuation of power from Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/Barmer Complex) Part B,” was awarded to PGCIL under the tariff-based competitive bidding (TBCB) process. During the bidding, PGCIL’s final winning bid…

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Power T&D dominates order inflows for Kalpataru Projects in FY25

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Kalpataru Projects International Ltd (KPIL) reported cumulative order inflows of Rs 118.65 billion for FY25, covering the period from April 1 to October 28, 2024. The power transmission and distribution (T&D) segment led the inflows, contributing over 50%, or Rs 59.86 billion.  As of September 30, 2024, KPIL’s outstanding order book totalled Rs 606.31 billion, with the power T&D segment accounting for 36.7% (Rs 222.69 billion). KPIL holds a leading position (L1) for additional orders…

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ARYA secures Rs 1 billion to develop CBG projects with IOCL and BPCL

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ARYA, a subsidiary of GPS Renewables, has raised Rs 1 billion in mezzanine financing as part of a Rs 2 billion funding round aimed at establishing compressed biogas (CBG) projects in collaboration with Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). The financing was provided by InCred Opportunities Fund and Spark Capital, supporting ARYA’s mission to advance biofuel production and contribute to India’s net zero objectives. In the coming year, ARYA plans…

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Powerica wins SECI auction for 500 MW ISTS wind power project

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Powerica has secured a 50 MW capacity in the Solar Energy Corporation of India’s (SECI) undersubscribed auction for a 500 MW interstate transmission system (ISTS)-connected wind power project (Tranche-XVII).  The company won the allocation at a tariff of Rs 3.81 per kWh. Due to an undersubscription, only 120 MW of the 500 MW was bid, resulting in SECI reducing the total award to 96 MW, per the tender’s 80% allocation provision. Adyant Enersol also participated,…

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RECPDCL issues RFP for 4.5 GW renewable power transmission project

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REC Power Development and Consultancy Limited (RECPDCL) has issued a Request for Proposal (RFP) for an interstate transmission system (ISTS) project to evacuate 4.5 GW of renewable energy from the Kurnool-IV Renewable Energy Zone (REZ) Phase 1 in Andhra Pradesh. The bid submission deadline is set for December 30, 2024. This RFP follows a recent RECPDCL tender to establish an ISTS project for expanding the pumped hydro storage network near Talegaon, Pune, Maharashtra.

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GAIL and VERBIO India sign MoU to establish agricultural residue-based CBG plants

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GAIL (India) Limited and VERBIO India Private Limited have signed a memorandum of understanding (MoU) to collaborate on establishing compressed biogas (CBG) plants based on agricultural residues across India.  The partnership will involve identifying suitable sites for greenfield CBG plants, conducting feasibility studies, and seeking investment approvals to form a joint venture (JV). Additionally, GAIL is considering acquiring an equity stake in VERBIO’s existing CBG plant in Punjab, further strengthening the collaboration.

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Servotech Power Systems launches new solar product line

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Servotech Power Systems Limited (Servotech) has introduced a new range of solar products, including solar on-grid inverters with capacities from 1 kW to 100 kW, and solar hybrid inverters available in single-phase (2 kW to 7.5 kW) and three-phase (10 kW to 22.5 kW) options. The product lineup also includes solar micro inverters in 800 W and 1600 W capacities. Additionally, Servotech has launched battery energy storage systems for domestic use, with capacities ranging from…

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Gensol Engineering’s Q3 net profit rises by 29% to Rs 228.9 million

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Gensol Engineering Limited has reported a net profit of Rs 228.9 million for the quarter ending September 2024, marking a 28.96% increase from Rs 177.5 million in the same quarter last year.  The company’s total income rose by 13.76% to Rs 3,468.2 million, up from Rs 3,048.7 million in the corresponding period of the previous year, reflecting steady growth in its financial performance.

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CERC amends Indian Electricity Grid Code, tightening regulations for renewable and storage projects

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The Central Electricity Regulatory Commission (CERC) has released the CERC (Indian Electricity Grid Code) (First Amendment) Regulations, 2024, introducing several critical changes aimed at improving grid efficiency and flexibility.  Key amendments include reducing the permissible period for renewable energy and energy storage systems to inject infirm power from one year to 45 days. Extensions of up to three months can be requested from regional load despatch centres, with additional extensions requiring CERC approval. For hydropower…