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Gensol Engineering to raise Rs 6 billion, aims for zero net-debt

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Gensol Engineering Limited has approved fundraising of up to Rs 6 billion to strengthen its balance sheet and move towards a zero net-debt position. The company plans to raise Rs 4 billion through foreign currency convertible bonds (FCCBs) and Rs 2 billion via warrants issued to promoters. Alongside the fundraise, Gensol is divesting assets, including vehicle sales and the sale of a subsidiary, to further enhance financial stability. The company expects these divestments to generate…

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REC to finance pumped storage projects in Kerala

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REC Limited has signed a memorandum of understanding (MoU) with the Energy Management Centre (EMC), Government of Kerala, to finance pumped storage projects (PSPs) in the state over the next five years. The investment, estimated at Rs 183.6 billion, aims to enhance grid stability and facilitate the integration of renewable energy. The PSPs will play a crucial role in Kerala’s long-term energy strategy, which focuses on sustainable and efficient power management. As renewable energy sources…

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Indian and Russian firms partner for advanced grid monitoring solutions

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Sharika Enterprises Ltd has signed a memorandum of understanding (MoU) with Russia’s Engineering Center Energoservice (ENS) to bring advanced grid monitoring solutions to India.   Under the agreement, Sharika Enterprises has secured exclusive rights to market and distribute ENS’s advanced grid protection and condition monitoring solutions, including transformer monitoring systems. These systems use synchrophasor measurements to provide real-time data and analytics, helping to reduce operational risks and prevent costly downtimes. One of the key products in…

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Salzer Electronics wins Rs 500 million smart meter order

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Salzer Electronics Ltd has secured a Rs 500 million smart meter order from a leading advanced metering infrastructure service provider (AMISP) in India. This follows a Rs 50 million order last month from the same customer.  With a production capacity of 4 million smart meters, Salzer’s Tamil Nadu facility is ready to meet rising demand.   “We take pride in partnering with the government’s Revamped Distribution Sector Scheme (RDSS) to modernize the power sector with smart…

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UPNEDA awards 980.3 MW solar contracts to 26 firms under PM-KUSUM

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The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has issued Letters of Award (LoAs) to 26 firms for developing a total of 980.3 MW grid-connected solar power plants under the Renewable Energy Service Company (RESCO) model. These projects, awarded under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme, will be set up across various locations in Uttar Pradesh. List of winning firms and awarded capacities: Inderjit Mehta Constructions Private Limited…

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Swelect Energy and Waaree Renewable win solar contracts

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Swelect Energy Systems Limited has won a contract to supply its high-efficiency TOPCon bi-facial solar photovoltaic (PV) modules for a 150 MW solar power project in India. The contract was awarded on March 12, 2025. In addition, the company has raised Rs 2.9 billion through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Limited. The funds will support Swelect Energy’s goal of expanding its solar portfolio to 1,000 MW by the financial year…

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Four firms win bids for 1,200 MW wind-solar hybrid projects under NHPC’s Tranche-X

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Four companies have secured contracts to develop a total of 1,200 MW of Inter-State Transmission System (ISTS)-connected wind-solar hybrid power projects under NHPC Limited’s Tranche-X bidding. These projects can be developed anywhere in India on a build, own, and operate (BOO) basis, with or without Energy Storage Systems (ESS). The winners include Sprng Vayu Vidyut Private Limited (Sprng Energy Private Limited), which secured 150 MW at a tariff of Rs 3.41 per kWh. Illuminate Hybren…

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Jammu & Kashmir plans 50 MVA GIS substation

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The Government of Jammu & Kashmir (GoJK) has proposed a 50 MVA, 220/33 kV gas-insulated substation (GIS) at Batkote in Pahalgam.  The project is expected to be implemented through a tariff-based competitive bidding (TBCB) process as part of the state’s transmission plan for 2022-27. According to the Central Electricity Authority (CEA), Jammu & Kashmir had no targets for transmission capacity additions at 220 kV and above for the financial year 2024-25. Additionally, no new transformation…

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Patratu thermal power project synchronizes first unit with grid

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Patratu Vidyut Utpadan Nigam Limited (PVUNL) achieved a major milestone on March 11, 2025, by synchronizing Unit 1 of the Patratu Thermal Power Project Phase I with the grid. On the same day, a dry run was completed for all units of the project, marking significant progress in its commissioning. PVUNL, a special purpose vehicle (SPV) formed by NTPC Limited in partnership with Jharkhand Bijli Vitran Nigam Limited (JBVN), is developing the project at Patratu…

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THDC and REC sign MoUs for PSPs in Chhattisgarh and Kerala

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India’s push for pumped storage projects (PSPs) gained momentum with two key agreements signed on March 11, 2025. THDC India Limited partnered with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Limited (CSPGCL) to develop the Dangari Pumped Storage Project. Meanwhile, REC Limited committed significant funding for similar projects in Kerala. The Dangari PSP, to be implemented by CSPGCL, will have a capacity of 1,400 MW and will be located in Dangari village,…