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National Electricity Plan – 2032 finalized, outlay pegged at over Rs 9 trillion

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Union power minister Manohar Lal announced the finalization of the National Electricity Plan (NEP) for the period 2023 to 2032 at a press conference in New Delhi on September 23, 2024. The NEP aims to develop central and state transmission systems to meet the projected peak power demand of 458 GW by 2032, with a total project outlay of Rs 9 trillion. Key highlights of NEP 2032 include the expansion of the transmission network from…

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L&T wins power transmission and distribution contracts in Middle East

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The Power Transmission & Distribution (PT&D) division of Larsen & Toubro (L&T) has secured significant orders in the Middle East to expand and strengthen electricity grids at high voltage levels. While the exact value of these contracts was not disclosed, the aggregate worth is estimated between Rs 100 billion and Rs 150 billion. In Saudi Arabia, L&T will establish ±500kV HVDC transmission links to interconnect different regions within the national electricity network, improving system resilience…

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Power minister inaugurates CSIRT-Power facility for cybersecurity

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Union power minister Manohar Lal inaugurated the new Computer Security Incident Response Team – Power (CSIRT-Power) facility in New Delhi on September 23, 2024. The establishment of CSIRT-Power, a collaborative effort between the Ministry of Power and CERT-In, is part of the 100-day initiatives under the National Cyber Security Policy. Equipped with state-of-the-art tools and resources, the facility will act as a dedicated cybersecurity response team for the power sector, focusing on detecting and responding…

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Power Grid wins Khavda transmission project amid competitive bidding

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Power Grid Corporation of India Ltd (PGCIL) has secured the letter of intent (LoI) for the project, titled “Provision of Dynamic Reactive Compensation at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3),” in Gujarat through tariff-based competitive bidding, marking its fourth ISTS-TBCB win in September 2024.   The project involves the installation of STATCOMs at KPS1 and KPS3 to manage high voltage fluctuations caused by intermittent renewable energy in the region. The estimated…

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India signs key IPEF agreements on Clean and Fair Economy

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On 21 September 2024, India signed agreements under the Indo-Pacific Economic Framework (IPEF) for Clean Economy, Fair Economy, and an overarching IPEF arrangement during Prime Minister Modi’s visit to the US. IPEF Clean Economy Agreement (Pillar-III) The Clean Economy Agreement focuses on boosting technical cooperation and clean energy technology deployment. It aims to accelerate renewable energy investments and provide concessional financing for MSMEs. Initiatives like the IPEF Catalytic Capital Fund, with USD 33 million (Rs…

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Kerala’s Green Hydrogen Valley to be set up with Rs 185.42 billion investment

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The Kochi Green Hydrogen Valley project in Kerala is set to transform the state’s energy landscape with a total estimated investment of Rs 185.42 billion. The project allocates Rs 41.66 billion for the development of electrolyzer and ammonia plants, while Rs 126.87 billion will be directed toward renewable energy expansion. The project will be implemented in three phases: Phase I (2024-25) will focus on developing green hydrogen clusters and renewable energy for industrial electrification; Phase…

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Solar91 Cleantech files for Rs 1 billion IPO on BSE SME platform

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Solar91 Cleantech, a Jaipur-based solar energy solutions provider, has filed its preliminary papers for an initial public offering (IPO) on the BSE SME platform. The IPO consists of a fresh issue of 5.436 million shares at a face value of Rs 10 each, targeting to raise approximately Rs 1 billion through the book-building route. The proceeds will be used for project development as an independent power producer (IPP), along with meeting working capital needs and…

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PGCIL, Adani, Sterlite Power in race for Gujarat’s HVDC transmission project

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Three players—Power Grid Corporation of India Ltd (PGCIL), Adani Energy Solutions Ltd (AESL), and Sterlite Power—have qualified to compete for a major interstate transmission system (ISTS) scheme in Gujarat, involving high-voltage direct current (HVDC) technology. The scheme is part of the Khavda V-A Power Transmission project, aimed at evacuating 8 GW of renewable energy from the Khavda region in Gujarat. Developer selection is being conducted through tariff-based competitive bidding (TBCB). The project is estimated to…

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BHEL wins Rs 61 billion order from NTPC for Sipat thermal power project

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Bharat Heavy Electricals Ltd (BHEL) has announced a major order worth over Rs 61 billion from NTPC Ltd for an EPC package at the 1×800 MW Sipat supercritical thermal power project (Stage III) in Bilaspur district, Chhattisgarh. The order includes the supply of equipment such as boilers and turbine generators, along with erection, commissioning, and civil works. The contract was awarded through international competitive bidding. The project is scheduled for completion by September 20, 2028,…

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Datta Power subsidiary signs Rs 15 billion MoU with REC for 500 MW renewable projects

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Adyant Enersol Pvt Ltd, a subsidiary of Datta Power Infra, has signed a strategic memorandum of understanding (MoU) with REC Ltd for financing Rs 15 billion to develop 500 MW of renewable energy projects. The MoU was formalized at the 4th Global RE-INVEST Summit in Gujarat. This partnership sets the stage for Datta Infra’s larger vision of developing 2 GW of wind, solar, and wind-solar hybrid projects across Rajasthan, Madhya Pradesh, Andhra Pradesh, and other…