According to the International Energy Agency (IEA), global electricity demand is projected to grow by 4% each year until 2027, equating to more than Japan’s total consumption. This growth will be primarily offset by the expansion of low-emissions energy sources, such as renewables and nuclear power. Emerging and developing economies will account for 85% of…
Iberdrola announced that construction of the Eastern Green Link 1, a subsea electricity superhighway, has officially started. The £2.5 billion project is a joint venture between SP Energy Networks and National Grid Electricity Transmission. It will transport renewable energy to power two million homes through over 190 km of undersea cables connecting Scotland and England….
Sterlite Power has announced the commissioning of the Nangalbibra─Bongaigaon Inter-State Power Transmission Project. The project was implemented under a tariff-based competitive bidding (TBCB) process on a build, own, operate, and maintain (BOOM) basis. PFC Consulting Limited (PFCCL) was appointed as the bid process coordinator by the Ministry of Power (MoP) in September 2020. The scope…
Reliance Industries Ltd (RIL) has formally acquired a 100% equity stake in Lakadia B Power Transmission Limited (LPTL), a special purpose vehicle (SPV) established for the development of the transmission system for the Augmentation of Transformation Capacity at the 765/400 kV Lakadia Substation (S/s) in Gujarat-Part B. The acquisition follows the invitation of Request for…
Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) worth Rs 67 billion from Singareni Collieries Company Limited (SCCL) for the engineering, procurement, and construction (EPC) package of the 1×800 MW Singareni Stage-II project, also known as the Adilabad Coal-Based Power Project Stage II. SCCL re-invited bids for the project in March…
Bharat Petroleum Corporation Limited (BPCL) has signed a Memorandum of Understanding (MoU) with Eco Wave Power Global AB to develop wave energy-based renewable power projects across India. Both companies will conduct a feasibility study to assess the deployment of wave energy projects. In the initial phase, a 100–300 kW pilot project will be installed at…
Power Finance Corporation Limited (PFC) reported a net profit of Rs 77.6 billion for the quarter ending December 2024, marking a 23.29 per cent increase from Rs 62.94 billion in the same quarter last year. The company’s total income grew by 13.69 per cent to Rs 268.22 billion from Rs 235.93 billion in the corresponding…
The Ministry of Power has introduced tariff-based competitive bidding guidelines for procuring stored energy from existing, under-construction, or new Pumped Storage Projects (PSP). As per the National Electricity Plan 2023, India will require 74 GW/411 GWh of energy storage systems by 2031-32, including 27 GW/175 GWh from PSP and 47 GW/236 GWh from Battery Energy…
Premier Energies Photovoltaic Private Limited, a wholly-owned subsidiary of Premier Energies Limited (PEL), secured contracts worth Rs 12.34 billion for the supply of solar photovoltaic (PV) modules in India on February 14, 2025. The supply is expected to begin in April 2025. In January 2025, PEL’s subsidiaries—Premier Energies Global Environment Private Limited, Premier Energies International…
WestWind Energy has signed a lease agreement with the New South Wales government for the construction of the Lake Victoria wind farm, a project set to be developed over 2-3 years, from 2029 to 2032. The wind farm is planned to consist of up to 201 turbines, with an estimated capital expenditure of $3.8 billion….