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Tata Power and ADB partner to evaluate $4.25 billion clean energy projects
Tata Power has signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) during COP29 in Baku, Azerbaijan. The partnership will evaluate financing for strategic projects aimed at enhancing India’s power infrastructure and promoting renewable energy. The MoU includes projects such as a 966 MW solar-wind hybrid system, pumped hydro storage, energy transition…
Construction begins on subsea electricity superhighway
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….
NLCIL and BARC partner to extract rare earth elements from fly ash
NLC India Limited (NLCIL) has signed a Memorandum of Understanding with the Bhabha Atomic Research Centre (BARC) to launch a pilot project for extracting rare earth elements (REEs) from fly ash. The project will be set up in Neyveli, with BARC providing technical expertise. The initiative aims to demonstrate a new method of recovering REEs…
India’s renewable energy sector set for major growth
India’s renewable energy sector has made significant strides, with installed capacity surpassing 200 gigawatts (GW) and projections of investment doubling to over Rs 2.75 trillion by 2025. According to the International Energy Agency (IEA), India’s annual renewable capacity additions are set to grow faster than any other major economy, including China, with expectations for the…
Hitachi Energy achieves record order backlog of Rs 89.1 billion
Hitachi Energy India Ltd reported a record-high order backlog of Rs 89.1 billion as of September 30, 2024, marking unprecedented revenue visibility for upcoming quarters. Orders for the quarter ending September 30 totalled Rs 19.52 billion, reflecting an 11.7% year-on-year increase, driven largely by renewable projects in utilities, power quality, and substations. Notable contributions also…
Gensol Engineering’s Q3 net profit rises by 29% to Rs 228.9 million
Gensol Engineering Limited has reported a net profit of Rs 228.9 million for the quarter ending September 2024, marking a 28.96% increase from Rs 177.5 million in the same quarter last year. The company’s total income rose by 13.76% to Rs 3,468.2 million, up from Rs 3,048.7 million in the corresponding period of the previous…
