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Power Grid acquires Khavda V-A transmission project

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Power Grid Corporation of India Ltd (PGCIL) acquired “Khavda V-A Power Transmission Ltd” from REC Power Development & Consultancy Ltd (RECPDCL) on November 19, 2024. This project, valued at Rs 250 billion, is the largest interstate transmission system (ISTS) scheme awarded under the tariff-based competitive bidding (TBCB) mechanism. The project is India’s first TBCB-awarded transmission scheme employing HVDC technology, a departure from the earlier regulated tariff mechanism (RTM) for most HVDC projects. PGCIL will earn…

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RBI to issue Rs 200 billion in sovereign green bonds in FY 2024-25

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The Reserve Bank of India (RBI) has announced the issuance of Rs 200 billion in sovereign green bonds across four equal tranches during the second half of fiscal year 2024-25. These bonds will fund projects in renewable energy, clean transportation, sustainable water management, and other climate-focused sectors. The first tranche of Rs 50 billion with a 10-year tenor will open for subscription from November 25 to 29, 2024. The second tranche, with a 30-year tenor,…

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Saatvik Green Energy to supply solar pumps for Maharashtra irrigation

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Saatvik Green Energy Private Limited has secured a supply order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) to provide solar-powered submersible pumps at 250 locations across Maharashtra. The pumps, ranging from 3 horsepower (HP) to 7.5 HP, aim to enhance water accessibility and support irrigation needs, contributing to sustainable agricultural practices in the region.

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CERC proposes framework for carbon credit certificate trading

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The Central Electricity Regulatory Commission (CERC) has issued the draft CERC (Terms and Conditions for Purchase and Sale of Carbon Credit Certificates) Regulations, 2024.  The regulations aim to establish a structured framework for trading carbon credit certificates (CCCs) on power exchanges, applicable to both obligated and non-obligated entities. Under the draft, the Grid Controller of India will serve as the registry for CCC exchanges, while the Bureau of Energy Efficiency (BEE) will manage CCCs under…

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Omega Seiki Mobility to launch hydrogen-powered three-wheelers

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Omega Seiki Mobility (OSM) plans to roll out hydrogen-powered three-wheelers in India by the end of this financial year. The company is collaborating with state governments to initiate pilot projects, involving 50 to 100 vehicles, with plans for subsequent expansion. In partnership with Systemics, OSM has formed Hydrogen Intelligence, a joint venture that developed hydrogen-powered three-wheelers capable of covering 700 km with a two-kg hydrogen cylinder.  These vehicles have undergone successful testing, including at Le…

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ACME Sun Power secures Rs 37.53 billion loan from REC

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ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured a Rs 37.53 billion term loan from REC Limited to develop a 320 MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN. The project aims to provide round-the-clock power, assisting distribution companies in meeting renewable purchase and energy storage obligations. Solar capacity will be developed in Jaisalmer, Rajasthan, while wind sites are planned in Bhuj and Jam Khambhaliya, Gujarat. A power…

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DVC awards EPC contract for Koderma TPS Phase II to BHEL

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Damodar Valley Corporation (DVC) has awarded Bharat Heavy Electricals Limited (BHEL) the engineering, procurement, and construction (EPC) contract for the 2×800 MW Koderma Thermal Power Station (TPS) Phase II in Jharkhand.  The project will add 1,600 MW to DVC’s generation capacity, addressing growing regional energy demands and promoting socio-economic development. The Koderma TPS Phase II project aligns with DVC’s mission to provide reliable and sustainable power while bolstering the region’s energy infrastructure. The partnership with…

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Jakson Green achieves milestone for methanol production for NTPC

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Jakson Green, in collaboration with NTPC, has synthesized methanol from carbon dioxide captured at NTPC’s Vindhyachal Thermal Power Plant in Madhya Pradesh.  The project, led by NTPC’s R&D unit, NETRA, captures CO2 directly from flue gas emissions and converts it into methanol, a clean fuel for power generation and transportation. This achievement marks the first instance of methanol production from captured carbon in India and is part of Jakson Green’s broader Power-to-X portfolio. The company…

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Chubu Electric increases stake in OMC Power to over 35%

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Japan’s Chubu Electric has increased its investment in OMC Power, raising its stake from 20% to over 35%, becoming the largest shareholder.  This additional funding will support OMC Power in commissioning 100 MW of energy transition projects and expanding operations in India and South Africa. OMC Power currently operates over 500 clean energy plants, supplying power to telecom towers, institutional rooftops, commercial and industrial sectors, and providing power distribution to rural and underserved areas. Mitsui…

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RECPDCL invites bids for Transmission System Development in Madhya Pradesh

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REC Power Development and Consultancy Limited (REC-PDCL), a wholly owned subsidiary of REC Limited, has invited bids for the selection of a Transmission Service Provider (TSP) to develop intra-state transmission system for evacuation of 1230 MW power (MPPMCL portion) through STU network from proposed 2X800 MW Thermal Power Project of M/S Mahan Energen Ltd. (MEL).  The project will be executed through a tariff-based competitive bidding (TBCB) process. The transmission scheme involves constructing two major substations…