Hero Motors, part of the Hero Motors Company (HMC) Group, has filed with SEBI to raise Rs 9 billion through an IPO. The offer includes Rs 5 billion in new shares and Rs 4 billion through an offer-for-sale by promoters. Promoter O P Munjal Holdings will sell shares worth Rs 2.5 billion, and Bhagyoday Investments and Hero Cycles will each sell shares worth Rs 750 million. The company may also conduct a pre-IPO placement of…
Solar paraboloid technology is gaining attention as a potential game-changer in the shift towards renewable energy. This advanced form of concentrated solar power (CSP) can increase the efficiency of capturing solar energy, potentially outperforming traditional photovoltaic (PV) systems. Solar paraboloids use parabolic mirrors to focus sunlight onto a receiver tube, heating a fluid to generate electricity or provide heat for industrial use. Operating at higher temperatures (up to 300°C), they achieve greater thermal efficiency by…
The Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) and Hindustan Zinc Limited (HZL) have signed a Memorandum of Understanding (MoU) to develop and commercialize zinc-ion battery technologies. This collaboration aims to create new variants of zinc materials, offering a low-cost, domestically sourced alternative to expensive imported lithium-ion batteries. Zinc-ion batteries, utilizing abundant and inexpensive raw materials, hold great promise for large-scale energy storage due to their superior performance and safety. Recent advancements in zinc…
A new 400kV substation has been proposed in Bornagar, Assam, as part of the interstate transmission system (ISTS) network, to provide an alternative interconnection between the northeastern region (NER) and eastern region (ER) grids. This initiative aims to address the risk of supply disruptions, as the current gateway to the NER grid, the Bongaigaon substation, is located in a flood-prone area. The Central Transmission Utility of India Ltd (CTUIL) has supported this proposal, initially recommended…
In FY 2024, India added 11.5 GW of new utility-scale solar capacity, an 18% increase from the previous year, according to a report by JMK Research. The rooftop solar sector also showed impressive growth, with 3 GW installed, a 34% year-on-year increase. Wind capacity additions reached 3.25 GW, a 42.9% rise compared to FY 2023. The momentum continued in Q1 2024, with approximately 7.5 GW of utility-scale solar capacity added, five times the amount installed…
India’s power demand is set to increase at a rate of 15 GW per year over the next six years, up from 11 GW per year over the past decade, according to Srikant Nagulapalli, Additional Secretary for Power. Speaking at an Industry Conclave organized by IEEMA, Nagulapalli highlighted that by 2030, an additional 85 GW of demand will be added during solar hours, with more than 90 GW added to peak demand during non-solar hours….
India’s engineering goods exports increased by 3.66% in July, reaching $9.04 billion, up from $8.72 billion in the same month last year, according to the Engineering Export Promotion Council (EEPC) of India. This growth was driven by increased shipments to key markets such as the US, UAE, Saudi Arabia, and Singapore. The rise was attributed to higher exports of electrical machinery, automobiles and auto components, and construction machinery including cranes, lifts, and winches. For the…
KEC International Ltd has announced new orders totalling Rs 10.79 billion, primarily in its Transmission & Distribution (T&D) and Cables divisions. These new T&D projects span multiple regions, including India, West Asia, and the Americas. Key contracts include a 765 kV/400 kV transmission line project in India and multiple transmission line projects in Saudi Arabia and Oman. KEC will also upgrade a 400 kV transmission line in the UAE and provide infrastructure components in the…
Billionaire Gautam Adani’s power unit, Adani Power Ltd., is owed as much as $800 million by Bangladesh for electricity supplied from its coal-fired plant in the Godda district of Jharkhand, India. The dues come as Bangladesh faces economic challenges, including weeks of violent protests that led to the ousting of the previous administration. Bangladesh Bank’s newly-appointed Governor, Ahsan H. Mansur, told Bloomberg that failure to pay could result in a halt of electricity supply, although…
Tata Power Solar Systems (TPSSL), a leading solar company in India and a subsidiary of Tata Power Renewable Energy, has partnered with ICICI Bank to offer loans for purchasing solar panels. This collaboration aims to make sustainable energy solutions more accessible and affordable for residential and corporate customers. ICICI Bank will provide customized financial solutions with attractive interest rates for purchasing solar panels from TPSSL. Customers can avail of loans up to Rs 90 lakh…
Stay informed on power sector updates. Subscribe here.