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Avaada Group invests Rs 1 trillion in green energy projects in Rajasthan

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Avaada Group has announced a Rs 1 trillion investment in Rajasthan to develop large-scale solar, wind, and green ammonia projects. This move follows the signing of a Memorandum of Understanding (MoU) with the state government, a joint commitment to boosting Rajasthan’s renewable energy infrastructure. The investment will fund major projects, including a 1.2 GW pumped hydro storage project, a 1 million tonne per annum (MTPA) green ammonia facility, a 1 GW wind power project, and…

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SJVN launches tender for 6 GW renewable energy with storage

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SJVN Ltd has announced a 6 GW tender for renewable energy projects with storage, aimed at ensuring electricity supply during peak hours. The tender seeks power supply through an inter-state transmission system, allowing distribution across India. As part of its decarbonisation goals, India plans to connect 35 GW of solar and wind capacity to its grid by March 2025, contributing to its target of 500 GW of non-fossil power capacity. Renewable energy generation has been…

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Hygenco invites bids for 1.1 GW RE to power green ammonia project

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Hygenco Green Energies Pvt Ltd has announced bids for over 1.1 GW (1125 MW) of renewable energy to support its upcoming Green Ammonia Project, marking the largest renewable power procurement tender for a green ammonia initiative in India. The company plans to source 625 MW from solar PV projects and 500 MW from wind power. This tender is designed to minimize risk for developers and ensure a transparent process, aiming to attract wide participation from…

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Government launches PM E-DRIVE Scheme with Rs 109 billion

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The government has launched the PM E-DRIVE Scheme, allocating Rs 109 billion to accelerate the adoption of electric vehicles (EVs), develop charging infrastructure, and boost India’s EV manufacturing ecosystem. The scheme will run from October 1, 2024, to March 31, 2026, subsuming the ongoing EMPS-2024 scheme. The scheme offers subsidies for electric two-wheelers (e-2Ws) based on battery power, providing Rs 5,000 per kilowatt hour in the first year, capped at Rs 10,000. In the second…

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Vivriti Capital borrows USD 25 million from ADB for climate finance

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Non-bank lender Vivriti Capital has secured USD 25 million from the Asian Development Bank (ADB) to support climate finance initiatives.  The senior secured debt facility has a four-year tenor and represents the first certified climate bond issuance by a private-sector non-banking financial company (NBFC) in India, according to an official statement.

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NCRTC partners with PTC India to procure green energy for RRTS corridor

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The National Capital Region Transport Corporation (NCRTC) has signed an agreement with Power Trading Corporation (PTC India) to source power, including green energy, through power exchanges for its Regional Rapid Transit System (RRTS) corridor. This partnership aims to meet part of NCRTC’s power needs at its receiving substations in Ghaziabad, Modipuram, Shatabdi Nagar, Muradnagar in Uttar Pradesh, and Sarai Kale Khan (SKK) in Delhi, helping to reduce overall power costs. PTC India will assist NCRTC…

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PGCIL, RVPNL sign shareholder agreement for intra-state transmission

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Power Grid Corporation of India Ltd (PGCIL) has entered into a shareholder agreement with state transmission utility Rajasthan Rajya Vidyut Prasaran Ltd (RVPNL) to establish a joint venture (JV) company. As per a stock exchange filing, PGCIL will hold a 74% equity stake in the JV, while RVPNL will own the remaining 26%. The proposed JV aims to execute projects valued at up to Rs 10 billion in a phased manner, focusing on the development…

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Powergrid Ananthpur Kurnool gets licence for RTM project

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The Central Electricity Regulatory Commission (CERC) has awarded a transmission licence to Powergrid Ananthpuram Kurnool Transmission Ltd (PAKTL) for an interstate transmission system (ISTS) project, to be executed under the regulatory tariff mechanism (RTM) mode. The project, estimated to cost Rs 456.4 million, is set for completion by March 31, 2026, and involves the establishment of three 400kV line bays at the upcoming Ananthpuram Pooling Station in Andhra Pradesh. Two of the line bays will…

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REC forms eight SPVs for interstate transmission projects

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The board of REC Ltd has approved the establishment of eight special purpose vehicles (SPVs) for the development of interstate transmission system (ISTS) schemes. In a stock exchange filing, REC stated that the board, during a meeting on September 30, 2024, authorized the formation of these SPVs as wholly-owned subsidiaries of REC Power Development & Consultancy Ltd (RECPDCL), which is itself a wholly-owned subsidiary of REC Ltd. These SPVs will serve as shell companies for…

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NLC commissions 10 MW solar power plant in Neyveli

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NLC India Limited (NLCIL) has commissioned a 10 MW solar photovoltaic (PV) power plant in Neyveli.  The company aims to achieve 10 GW of renewable energy capacity by 2030 and currently holds a total renewable energy capacity of 1,380 MW from solar and 51 MW from wind power. To support this goal, NLCIL has established two subsidiaries: NLC India Renewables Limited for asset monetization and NLC India Green Energy Limited for clean energy initiatives. With…