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UAE’s Nakheel and DEWA partner on 132 kV substation in Palm Jebel Ali

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Nakheel, a subsidiary of Dubai Holding Real Estate, has partnered with the Dubai Electricity and Water Authority (DEWA) to develop two substations on Palm Jebel Ali, with an investment of AED 270 million.  DEWA will handle project management, including tendering, award, and construction.  These substations, each with a capacity of 132/11 kV, will provide a combined 400 MVA of electricity to meet the energy needs of Palm Jebel Ali, supporting areas like the fronds and…

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EDF Renewables signs 20-year energy storage PPA with APS for 250 MW Beehive BESS

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EDF Renewables has secured a 20-year Energy Storage Power Purchase Agreement (PPA) with Arizona Public Service (APS) for the Beehive Battery Energy Storage System (BESS) in Peoria, Arizona.  This 250 MW, four-hour duration stand-alone battery system, totalling 1,000 MWh, will start construction in 2025 and is set for commercial operation by 2026.  Beehive BESS, equipped with lithium-ion batteries, inverters, transformers, and a substation, will store renewable energy to meet peak demand, supporting APS’s capacity needs. …

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Emeren and Arpinge partner on 300MW battery storage portfolio in Italy

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US-based Emeren Group has entered a co-development agreement with Arpinge to establish a 300MW battery energy storage system (BESS) portfolio in southern Italy, bolstering Emeren’s presence in the Italian BESS market where it already has 1.37GW in its permitting pipeline.  This partnership with Arpinge, a permanent capital vehicle backed by Italian pension funds, aligns with Italy’s energy transition goals, focusing on enhancing grid stability and integrating renewables.  Emeren Group CEO Yumin Liu highlighted the collaboration…

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Westbridge sells 75% stake in Alberta’s Sunnynook solar project to METLEN

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Westbridge Renewable Energy has completed the sale of its 75% stake in the Sunnynook solar and battery energy storage system (BESS) project to METLEN Energy & Metals.  Located in Alberta’s Special Area No. 2, the 332 MWdc Sunnynook solar project includes a 200 MWh BESS and is approved by the Alberta Utilities Commission, currently progressing in the Alberta Electrical System Operator’s connection process.  The C$41.4 million ($29.7 million) transaction involved 3% of the purchase price…

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Waaree Renewable posts robust Q2 growth with Rs 5,244.7 million revenue

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Waaree Renewable Technologies Limited (WRTL), the solar EPC arm of Waaree Group, reported Q2 FY25 revenue of Rs 5,244.7 million, a 249.50% increase from Rs 1,500.6 million in Q2 FY24. Profit after tax (PAT) stood at Rs 535.2 million, while its unexecuted order book remains at 1.7 GWp with a 9-12 month timeline. For H1 FY25, revenue reached Rs 7,608.2 million, up 172.70% year-on-year, with an EBITDA of Rs 1,126.5 million, marking a 155.56% increase….

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Gentari, Juniper Green, and others secure SJVN’s 1.2 GW hybrid power auction

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Gentari Renewables India Utilities 2, Juniper Green Energy, EG Energy Development (Enfinity Global), Sunsure Solarpark RJ One, and Adyant Enersol (Datta Infra) emerged as winners in SJVN’s Phase III auction for 1,200 MW of ISTS-connected wind-solar hybrid power projects in India.  Gentari, Juniper, EG Energy, and Adyant secured 400 MW, 300 MW, 300 MW, and 70 MW, respectively, at Rs 3.19 per kWh. Sunsure won 130 MW of its quoted 150 MW using the bucket-filling…

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ACME Solar launches Rs 30 billion IPO

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ACME Solar launched its initial public offering (IPO) today, November 6, 2024, valued at Rs 30 billion, with a price band of Rs 275 to Rs 289 per equity share. The IPO, open until Friday, November 8, 2024, requires a minimum bid of 51 shares, with additional bids in multiples of 51.  The offering includes a fresh issue of Rs 23.95 billion and a sale offer of Rs 5.05 billion by ACME Cleantech Solutions. An…

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NTPC and RVUNL form joint venture for Chhabra thermal power plant

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NTPC Limited has signed a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to jointly own and operate the Chhabra thermal power plant.  The 2,320 MW plant, currently managed by RVUNL, comprises four 250 MW units (Stage 1) and two 660 MW units (Stage 2). Under this 50:50 partnership, the joint venture aims to manage the plant’s operations and explore capacity expansion opportunities.

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Tata Power reports Rs 10.93 billion net profit in Q2, up 7.47% YoY

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Tata Power Company Limited posted a net profit of Rs 10.93 billion for the quarter ending September 2024, marking a 7.47 per cent rise from Rs 10.17 billion in the same period last year.  The company’s total income grew by approximately 1.13 per cent to Rs 162.11 billion in Q2 FY2024, up from Rs 160.3 billion in the corresponding quarter of the previous year.

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NTPC approves Rs 800 billion investment for 6,400 MW thermal projects

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NTPC‘s board has approved investment proposals totalling approximately Rs 800 billion for thermal power projects with a combined capacity of 6,400 MW. The approved projects include: Telangana Super Thermal Power Project, Phase-II: 3×800 MW units at an estimated cost of Rs 293.44 billion. Gadarwara Super Thermal Power Project, Stage-II: 2×800 MW units at an estimated cost of Rs 204.45 billion. Nabinagar Super Thermal Power Project, Stage II: 3×800 MW units at an estimated cost of…