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NTPC Q2 FY 2025 net profit rises 14% to Rs 53.8 billion, revenue slightly declines

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State-run power generator NTPC Ltd reported a consolidated net profit of Rs 53.8 billion for the second quarter of 2024-25 (Q2 FY 2025), a 14% increase from Rs 47.26 billion in the same period last year. Revenue from operations in the September quarter stood at Rs 446.96 billion, a slight decline from Rs 449.83 billion reported in the corresponding quarter of the previous fiscal year. As India’s largest integrated power utility, NTPC contributes 25% of…

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JSW Energy Q2 FY 2025 net profit at Rs 8.53 billion, revenue up 2% YoY

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JSW Energy reported a consolidated net profit of Rs 8.53 billion for the quarter ended September 2024 (Q2 FY 2025), slightly up from Rs 8.5 billion in the same period last year. The company’s total revenue for Q2 FY 2025 reached Rs 34.59 billion, marking a 2% year-on-year increase. Net generation for the quarter rose by 14% YoY to 9.8 billion units, driven by wind capacity additions and higher generation at thermal and hydro plants….

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Avaana Capital raises $135-mn climate-tech VC fund

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Avaana Capital, India’s climate-focused venture capital firm, has infused its Avaana Climate and Sustainability Fund with USD 135 million, supported by prominent institutional investors, including the Green Climate Fund (GCF).  Anjali Bansal, partner at Avaana Capital, highlighted the significance of this support, emphasizing the role of innovation in driving climate action and creating long-term impact. The fund aims to build the next generation of climate-first companies across three core sectors—Energy and Resource Management, Mobility and…

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Sembcorp, Adani, Green Prairie, Adyant Enersol and ReNew win NTPC’s 1.2 GW Wind-Solar Auction

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Sembcorp Green Infra, Adani Renewable Energy, Green Prairie Energy III (EverGreen), Adyant Enersol (DATTA INFRA), and ReNew Solar have been selected as winners in NTPC’s auction to develop inter-state transmission system (ISTS) connected wind-solar hybrid power projects with a total capacity of 1.2 GW. Green Prairie Energy and Adyant Enersol secured 200 MW and 70 MW, respectively, at a tariff of Rs 3.28 per kWh. Sembcorp Green Infra, Adani Renewable Energy, and ReNew Solar were…

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IndiGrid, Kintech and H.G. Infra win NVVN’s BESS auction

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IndiGrid, Kintech Synergy, and H.G. Infra Engineering have emerged as winners in NTPC Vidyut Vyapar Nigam’s (NVVN) auction to develop 500 MW/1,000 MWh standalone battery energy storage systems (BESS) with Viability Gap Funding (VGF) support.  NVVN, a subsidiary of NTPC, allocated 250 MW to IndiGrid 2 at a tariff of Rs 236,999 per MW per month. Kintech Synergy received 65 MW at Rs 237,490/MW/month, and H.G. Infra was awarded 185 MW at Rs 238,000/MW/month. According…

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Stiesdal Offshore partners with Copenhagen Infrastructure for floating wind sector

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Stiesdal Offshore and Copenhagen Infrastructure Partners (CIP), through its Copenhagen Infrastructure V (CI V) fund, have formed a strategic collaboration to establish Stiesdal Offshore as a leading player in the floating wind sector. As part of this partnership, CI V has acquired a minority stake in Stiesdal Offshore. Stiesdal will provide engineering services and project execution support, focusing on reducing costs, simplifying project execution, and accelerating the growth of floating offshore wind. The floating wind…

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MNRE revises program to electrify 100,000 PVTG households with off-grid solar

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The Ministry of New and Renewable Energy (MNRE) has revised its program to electrify 100,000 households in particularly vulnerable tribal group (PVTG) areas through off-grid solar systems.  The initiative, implemented under Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) and Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PM JUGA), now has an additional budget allocation of Rs 9.15 billion. The revised program includes providing off-grid solar lighting for 1,500 multi-purpose centers (MPCs) and the solarization…

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HPCL issues tender for 5,000 tonnes of green hydrogen supply at Visakh Refinery

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Hindustan Petroleum Corporation (HPCL) has floated a tender seeking the supply of 5,000 tonnes (5 KTPA) of green hydrogen annually for its Visakh Refinery. The tender period is set for 25 years, with the bid submission deadline on January 21, 2025. The successful bidder will be responsible for selecting the project location, acquiring land, and constructing the Green Hydrogen Generation Unit (GHGU), which will comprise electrolysers, power systems, and purification units. 

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NTPC and Indian Army to establish solar hydrogen microgrid in Ladakh

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NTPC, in partnership with the Indian Army, is set to deploy a solar hydrogen-based microgrid at Chushul, Ladakh, aimed at providing stable, renewable power to off-grid Army locations. The 200 kW microgrid system will use hydrogen as an energy storage medium, replacing diesel generators currently operating at the remote site, situated at an altitude of 4,400 meters where temperatures can plummet to -30°C in winter. NTPC will operate and maintain the microgrid for 25 years,…

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ADB sanctions $434.25 million loan for renewable energy development in Assam

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The Asian Development Bank (ADB) has approved a $434.25 million loan to support renewable energy initiatives and enhance energy security in Assam.  The project will establish a 500 MW grid-connected solar photovoltaic facility in the Karbi Anglong district, along with a grid-connected battery energy storage system to stabilize the grid and manage peak power demands. This initiative aligns with Assam’s renewable energy goals, contributing to the state’s renewable energy roadmap and increasing solar capacity to…