Kenya’s high court has suspended a $736 million agreement between state-owned Kenya Electrical Transmission Company (KETRACO) and Adani Group’s Adani Energy Solutions to develop and operate power infrastructure, including transmission lines. The suspension follows a legal challenge by the Law Society of Kenya, which has criticized the agreement as “a constitutional sham” and “shrouded in…
Convergence Energy Services Limited (CESL) has launched a tender to establish and maintain EV charging stations at seven locations within the Municipal Corporation of Faridabad, Haryana. Bids are due by October 30, 2024, with an opening on the same day. The tender requires a Rs 15,000 document fee and an earnest money deposit of Rs…
Chennai-based Refex Industries has formed a joint venture with Winvision Enterprises to establish Refex Green Energy Limited (RGEL), focused on wind energy solutions. Refex will hold a 75.5% stake in RGEL, while Winvision will own the remaining 24.5%. The JV aims to position RGEL as a comprehensive provider in the wind energy sector, covering manufacturing…
REC Limited has reported strong financial results for Q2 FY25, with a 17% rise in revenue from operations, reaching Rs 135.71 billion, compared to Rs 115.90 billion in the same quarter last year. Total income increased by 18% to Rs 266.33 billion, while net interest income saw a notable 25% jump, reaching Rs 97.23 billion….
India has drafted a proposal seeking $70 million in financing from the Climate Investment Funds (CIF) to enhance energy storage systems (ESS) and grid projects under the Renewable Energy Integration Investment Plan (REI IP), a joint effort by the Ministry of Finance and the Ministry of New and Renewable Energy (MNRE). Of the requested amount,…
REC Power Development & Consultancy Ltd (RECPDCL) has created three wholly-owned subsidiaries to develop interstate transmission system (ISTS) schemes across Gujarat, Rajasthan, and Jammu & Kashmir. On October 25, 2024, RECPDCL incorporated Banaskantha Transco Ltd as a special purpose vehicle (SPV) to implement the “Augmentation of transformation capacity at Banaskantha (Raghanesda) PS (GIS)” project in…
India Grid Trust (IndiGrid) has estimated a bid pipeline worth over Rs 651 billion in the power transmission sector, as disclosed in its Q2 FY25 investor presentation. The pipeline includes interstate transmission system (ISTS) projects with issued requests for proposal (RfP). Additionally, IndiGrid sees an estimated Rs 35 billion opportunity in the battery energy storage…
JSW Energy has emerged as the top bidder for KSK Mahanadi Power at an auction concluding on October 27, 2024. The Sajjan Jindal-led company offered Rs 159.85 billion to financial creditors, outbidding Adani Power, which had made a final offer of Rs 158.85 billion in the 10th round before opting out. JSW’s proposal includes a…
Om Infra has been awarded a contract valued at Rs 4.1 billion for hydro-mechanical (H&M) works on the 540 MW Kwar hydroelectric power project in Jammu & Kashmir by Chenab Valley Power Projects. The contract includes the complete HM scope, covering procurement, manufacturing, inspection, assembly, testing, painting, transportation, storage, site erection, and commissioning of equipment…
Adani Green Energy Limited (AGEL) reported a net profit of Rs 5.15 billion for the quarter ending September 2024, marking a 39% increase from Rs 3.71 billion in the same quarter last year. The company’s total income rose by 30.39% to Rs 33.76 billion during this period, up from Rs 25.89 billion recorded in the…