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PGCIL wins bid for Jam Khambhaliya augmentation scheme

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Power Grid Corporation of India Ltd (PGCIL) has been awarded the letter of intent for the Jam Khambhaliya augmentation scheme under the tariff-based competitive bidding (TBCB) route. The project involves establishing an interstate transmission system for the “Augmentation of transformation capacity at Jam Khambhaliya PS (GIS)” on a build, own, operate, and transfer (BOOT) basis. The letter of intent was received by PGCIL on September 12, 2024. The Jam Khambhaliya augmentation project, estimated to cost…

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Genus Power establishes two SPVs for smart metering under RDSS

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Genus Power Infrastructures Limited has formed two special purpose vehicles (SPVs), Genus Shekhawati Smart Metering Private Limited and Genus Marwar Smart Metering SPV Private Limited, to execute advanced metering infrastructure service provider (AMISP) services as part of the revamped distribution sector scheme (RDSS). The projects will focus on strengthening, renovating, and augmenting existing distribution systems to improve efficiency and reliability in power distribution.

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Azure Power to prepay USD 350 million green bonds maturing in December 2024

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Azure Power Global Limited has announced plans to prepay its USD 350 million green bonds, originally issued in 2019 and set to mature in December 2024. These bonds, listed in Singapore and backed by ten solar projects commissioned between 2016 and 2019, are being refinanced through a term loan valued at approximately Rs 24 billion, underwritten solely by REC Limited. The projects covered under this refinancing have a combined capacity of 615 MW and are…

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Sumitomo, AMPIN collaborate to develop 1 GW RE in India

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Sumitomo Corporation has formed a joint venture with AMPIN Energy Transition Pvt Ltd to form AMPIN C&I Power Pvt Ltd for developing renewable energy assets in India and promoting corporate Power Purchase Agreements (PPAs) for supplying renewable electricity to businesses. The total project cost is approximately 100 billion yen and is expected to create a 1 GW portfolio of renewable energy assets backed by corporate PPAs. The joint venture will be owned 51% by AMPIN…

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PGCIL completes delayed interstate transmission system for Rajasthan’s solar energy zones

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Power Grid Corporation of India Ltd (PGCIL) recently commissioned an interstate transmission system (ISTS) under “Powergrid Bhadla Transmission Ltd.” The project, officially named the “Transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II, Part B,” was completed in August 2024, nearly two years behind schedule. This Rs 11.06 billion scheme, awarded to PGCIL under the Tariff-Based Competitive Bidding (TBCB) route, involved the construction of a 405-ckm…

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DVC enters into financing agreement with SBI for thermal power plant

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Damodar Valley Corporation (DVC) has secured a financing agreement of Rs 100.5 billion with the State Bank of India (SBI) for the 2X800 MW Koderma Thermal Power Project, Phase-II, in Jharkhand. This funding will cover the majority of the Rs 14.36 billion project cost. The agreement outlines loan arrangements and financial terms necessary for the plant’s construction and operation. With a total capacity of 1,600 MW, the project aims to boost power generation in the…

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Sunsure signs PPA to supply 21 MW solar power to Lupin

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Sunsure Energy has signed a power purchase agreement (PPA) to provide 21 MW (31.5 MWp) of solar power to pharmaceutical giant Lupin. The power will be sourced from Sunsure’s 100 MW (150 MWp) solar plant in Solapur, Maharashtra, boosting renewable energy use across Lupin’s Tarapur facility.   Sunsure is also developing 500 MW of solar and wind energy parks in Maharashtra, with additional PPAs signed with companies such as KSB Pumps, Dabur, and Inox Air Products.

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Tata Electronics, TCS to develop India’s first domestic semiconductor chips by 2026

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Tata Consultancy Services (TCS) is collaborating with Tata Electronics to introduce India’s first domestically produced semiconductor chips by 2026. Tata Electronics is leading the manufacturing efforts, targeting industries such as automotive, electronics, power, consumer goods, and healthcare. TCS will contribute through semiconductor design, engineering, and related services, including software solutions and IP-based products. The India Semiconductor Mission (ISM) has approved three semiconductor manufacturing facilities, including two led by Tata Electronics: a USD 11-billion chip manufacturing…

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BPCL to establish joint ventures for renewable and biogas projects

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Bharat Petroleum Corporation Ltd (BPCL) approved two joint ventures during its Board meeting on 12 September 2024. The first JV with Sembcorp Green Hydrogen India (SGHIPL) will focus on developing and operating renewable energy projects across India, including green hydrogen production. Both BPCL and SGHIPL will hold equal 50% stakes in the venture. The second JV with GPS Renewables will involve setting up compressed biogas (CBG) plants nationwide. These ventures are pending regulatory approvals from…

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MNRE to seek firm investment commitments at RE-Invest 2024 for clean energy target

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The Ministry of New and Renewable Energy (MNRE) will seek firm investment commitments, or “shapath patras,” from banks, financial institutions, private companies, and state governments at the upcoming RE-Invest event in Gandhinagar, Gujarat, next week. Union Minister Pralhad Joshi announced today that the ministry has requested banks and financial institutions to provide specific commitment letters for investments in renewable energy over the next five years. This initiative is part of India’s goal of achieving 500…