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MUNPL pays first dividend of Rs 510 million each to NTPC and UPRVUNL

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Meja Urja Nigam Pvt Ltd (MUNPL), a 50:50 joint venture between NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL), has paid its first-ever dividend of Rs 510 million each to its parent companies. MUNPL’s Chairman K. Shanmugha Sundaram, CEO Kamlesh Soni, and CFO Amit Rautela presented the dividend cheque to NTPC CMD Gurdeep Singh in the national capital. A similar cheque will be presented to UPRVUNL management next week. MUNPL reported a…

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Greenzo Energy and RBM Infracon partner for 15 MW green hydrogen projects in Gujarat

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Greenzo Energy, India’s indigenous alkaline electrolyzer manufacturer, has signed a Memorandum of Understanding (MoU) with RBM Infracon Limited to establish green hydrogen facilities with a combined capacity of 15 MW across Jamnagar, Kutch, and Bhuj in Gujarat. The project will see an investment of Rs 2 billion and will begin in the fourth quarter of FY 2024-25, rolling out in phases over 18 months. Greenzo Energy will manage the design, engineering, and commissioning of the…

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IFC provides Axis Bank $500 million loan for green and blue finance in India

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The International Finance Corporation (IFC) has partnered with Axis Bank to provide a $500 million loan to scale green finance and develop the blue finance market in India. The funds will be used for projects such as offshore renewable energy and water waste management, as well as to enhance financing for climate projects, with a focus on green buildings aimed at mitigating climate change and generating employment. In June 2024, IFC also committed $105 million…

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CERC issues draft amendment on Deviation Settlement Mechanism for 2024

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The Central Electricity Regulatory Commission (CERC) has released the draft CERC (Deviation Settlement Mechanism and Related Matters) (First Amendment) Regulations, 2024. According to the draft, the charges for injecting infirm power will be zero, unless scheduled after a trial run as per the Grid Code. In such cases, deviation charges will apply to general or WS sellers. Additionally, if the system frequency exceeds 50.05Hz, any deviation of scheduled infirm power by over-injection will incur zero…

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MoP sets price benchmark for biomass pellets in NCR

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The Ministry of Power (MoP) has established a price benchmark of Rs 2.32 per 1000 kcal for biomass pellets, effective from September 1, 2023, to encourage biomass use in thermal power generation within the National Capital Region (NCR). This move supports India’s environmental and energy diversification goals.  The pricing applies to non-torrefied biomass pellets with moisture content below 14% and a gross calorific value of 2800-3400 kcal per kg, as determined by the Price Benchmarking…

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MoP issues guidelines for battery swapping and charging stations

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The Ministry of Power (MoP) has released guidelines for the installation and operation of battery swapping and charging stations. These guidelines apply to swappable battery providers and operators of battery charging and swapping stations. The primary objectives are to promote battery swapping as an alternative to electric vehicle (EV) charging, encourage battery-as-a-service models, and develop a strong battery-swapping ecosystem. Operators can use existing electricity connections for charging swappable batteries, with or without increasing the connected…

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Arunachal & Sikkim grid upgrade completion expected by March 2025

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The Centrally-funded “Comprehensive Scheme for Transmission and Distribution (T&D) System in Arunachal Pradesh & Sikkim” is set to be fully commissioned by March 2025, with 62% of the project completed as of August 31, 2024. The project involves 294 elements, including transmission lines and substations. While Sikkim has completed 41 of 55 elements, Arunachal Pradesh has commissioned 141 of 239 elements. Challenges remain in transmission line construction, with only 1,029 ckm of the planned 4,241…

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CtrlS Datacenters to launch 50 MW solar power plant

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Hyderabad-based CtrlS Datacenters is set to launch a 50 MW solar power plant within the next 12 to 15 months as part of its goal to power its data centres entirely with renewable energy. The company aims to raise USD 300 million this financial year to support its expansion and green initiatives. These funds will be allocated for land acquisition (10-15%), data centre infrastructure (60%), and renewable energy projects (15-20%), including the solar plant. This…

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Torrent Power secures 2,000 MW energy storage order from MSEDCL

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Torrent Power has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution (MSEDCL) for 2,000 MW of energy storage capacity from its InSTS-connected pumped hydro storage plant in Maharashtra. This includes an additional 500 MW capacity, following the 1,500 MW awarded on 17 September 2024. The energy storage facility will allow scheduled discharge of up to eight hours, with a maximum of five continuous hours per day. MSEDCL will provide the input energy…

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Tamil Nadu Cabinet approves 14 projects with Rs 386.98 billion investment

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The Tamil Nadu Cabinet has approved 14 new projects with a total investment commitment of Rs 386.98 billion, expected to generate 46,931 high-end employment opportunities across 12 districts. These projects span sectors including auto and electric vehicles, electronics, green energy, telecom equipment, and advanced manufacturing. Key investments include Freetrend Industrial India’s Rs 10 billion footwear manufacturing plant in Ariyalur, creating 14,000 jobs, and Leap Green Energy’s Rs 103.75 billion investment in a hydrogen power storage…