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Congress accuses government of breaking promise on Nagarnar Steel Plant privatization

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The Congress party has accused the government of reneging on its promise to keep the Nagarnar Steel Plant in Chhattisgarh’s Bastar region under public ownership. Jairam Ramesh, Congress General Secretary, cited a media report indicating that the Union Ministry of Finance is likely to invite bids for privatizing NMDC Steel (NSL) within the next two months. Ramesh criticized the move, pointing out that Prime Minister Narendra Modi had assured on October 3, 2023, that the…

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Andhra Pradesh to solarize 1,200 agricultural feeders

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Special Chief Secretary for Energy, K Vijayanand, announced that Andhra Pradesh is advancing its renewable energy initiatives by solarizing approximately 1,200 agricultural feeders, which will add a solar capacity of 3,725 MW. This move aims to provide free electricity to 1.96 million agricultural consumers in the state.   Vijayanand also revealed plans to solarize all government buildings in the state by December 2025, with support from Central Public Sector Enterprises like NTPC Vidyut Vyapar Nigam Limited…

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Maharashtra to provide farmers with free daytime electricity

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Deputy Chief Minister Devendra Fadnavis has announced that farmers in Maharashtra will receive free electricity during the daytime once the state government completes a 1,200 MW solar power project. The project, expected to be completed within 18 months, will also save the state government Rs 10 billion. Speaking to farmers in Chimur tehsil, Fadnavis assured that once the project is operational, farmers will have access to 12 hours of free electricity every day throughout the…

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Ola Electric launches three motorcycle variants, stocks surge 

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Electric vehicle maker Ola Electric Mobility has introduced a new series of motorcycles, marking its entry into the largely untapped motorcycle segment of India’s two-wheeler market. This launch comes shortly after the company’s initial public offering (IPO), which raised $734 million. India’s electric two-wheeler market is predominantly dominated by scooters, with motorcycles accounting for just 1% of EV sales. Ola Electric aims to shift this dynamic with its three new motorcycle variants, including the entry-level…

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Centre to impose stricter safety standards on electric construction equipment from October 2024

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The Ministry of Road Transport and Highways (MoRTH) is set to introduce stringent safety standards for electric construction vehicles as part of India’s green transition. Starting October 1, 2024, all-electric construction equipment, including dumpers and excavators, must comply with new safety regulations outlined in the draft amendment to the Central Motor Vehicles Rules, 1989. This amendment, published on August 14, proposes the introduction of rule 125-O, which mandates adherence to Automotive Industry Standards (AIS)-174, covering…

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Gujarat to host India’s first indigenous semiconductor plant 

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Gujarat Chief Minister Bhupendra Patel has announced that the state will host India’s first indigenously developed semiconductor chip plant, a significant milestone in the electronics and semiconductor sector. Highlighting the state’s achievements, Patel noted that Gujarat has attracted Rs 1,000 billion in investments in this sector, crediting the success to the 10th edition of the Vibrant Gujarat Global Summit, which played a crucial role in drawing investments in emerging technologies like AI and semiconductors. In…

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Suzlon Energy’s acquisition of Renom Energy Services to boost market presence  

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Suzlon Energy has acquired a 76% stake in Renom Energy Services, India’s largest multi-brand renewable energy operations and maintenance (O&M) firm, from the Sanjay Ghodawat Group (SGG). This acquisition is expected to enhance Suzlon’s market presence and facilitate its entry into new markets. Despite the acquisition, Renom will continue to operate independently under its board management. Renom’s portfolio includes 1,782 MW of wind, 148 MW of solar, and 572 MW of balance of plant (BoP)…

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Adani Power to continue supplying power to Bangladesh despite new export guidelines

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Adani Power has announced that it will continue supplying power to Bangladesh from its 1,600 MW Jharkhand plant, which was established to exclusively supply electricity to the neighbouring nation. This comes after a recent amendment by India’s power ministry to the power import/export guidelines, allowing export-oriented plants to sell power within India under certain conditions, such as non-scheduling or payment defaults. Despite this amendment, Adani Power clarified that the change is a universal provision designed…

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IndiGrid partners with BII, Norfund, Techno Electric to develop greenfield transmission projects across India

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IndiGrid, a power sector infrastructure investment trust, has announced strategic partnerships with British International Investment (BII), the Norwegian Climate Investment Fund, and Techno Electric and Engineering Company to develop greenfield Interstate Transmission System (ISTS) projects across India. In fiscal year 2024, IndiGrid successfully operationalized its first greenfield ISTS project, Kallam Transmission, and secured five additional projects in ISTS and Battery Energy Storage Systems (BESS). These projects are expected to require a capital expenditure of approximately…