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Solex Energy reports 194% revenue growth
Solex Energy Limited reported robust financial performance in H1 FY2024-25, with total income surging 194% to Rs 2.731 billion, up from Rs 930 million in H1 FY24. EBITDA increased 168% to Rs 253.7 million, and net worth expanded 244% to Rs 1.317 billion, while Return on Equity (ROE) improved to 29.41%, compared to 3.84% in the previous year.
Italy implements FER 2 Decree to boost innovative renewable energy projects
On August 13, 2024, Italy’s Ministry of the Environment and Energy Security (MASE) implemented the FER 2 Decree, aimed at supporting innovative renewable energy plants with high generation costs and low environmental impact. The decree targets specific types of plants, including biogas and biomass plants with capacities up to 300 KW and 1,000 KW, respectively, as well as thermodynamic solar, offshore floating wind, and floating photovoltaic installations. These plants must meet stringent eligibility criteria, such…
PFCCL transfers transmission subsidiaries to Powergrid
PFC Consulting Limited (PFCCL), a subsidiary of Power Finance Corporation Limited, has transferred two wholly owned subsidiaries, Khavda PSI and 3 Transmission Limited and Barmer I Transmission Limited, to Power Grid Corporation of India Limited (Powergrid) for a total of Rs 268.2 million. Khavda PSI and 3 Transmission Limited was transferred for Rs 79.2 million, and Barmer I Transmission Limited for Rs 189 million. Barmer I Transmission Limited focuses on establishing a new 765/400/220 kV…
Japan pushes for restart of Kashiwazaki-Kariwa nuclear power plant
Prime Minister Fumio Kishida announced on August 27, that Japanese ministers will convene next week to discuss the next steps for restarting Tokyo Electric Power Company’s (Tepco) Kashiwazaki-Kariwa nuclear power plant (NPP). The facility, located in Niigata, northern Japan, must first secure consent from the local government to resume operations. Japan’s nuclear regulator lifted the operational ban on the Kashiwazaki-Kariwa site in December. The ban, imposed in 2021 due to safety breaches, had kept the…
Karnataka mandates safety approval for solar rooftop projects over 10 kW
Karnataka now requires all new solar rooftop projects above 10 KW, including residential installations, to obtain safety approval from the Chief Electrical Inspector to the government (CEIG). Previously, approvals were handled by ESCOM officials, but a recent circular shifted this responsibility to CEIG. This move reverses a 2016 exemption by the Karnataka Electricity Regulatory Commission (KERC), which removed the safety approval requirement for smaller projects to boost adoption. The new rule is seen as a…
Telangana’s TGSPDCL launches pilot project to convert villages to solar power
Telangana’s Southern Power Distribution Company Limited (TGSPDCL) has launched a pilot project to convert villages to solar power, starting with Kondareddypalli in Nagarkurnool district. This initiative is part of Chief Minister A Revanth Reddy’s broader plan to implement solar-powered villages across the state, with two pilot projects in the southern and northern discoms. To promote solar energy among farmers, Revanth Reddy has instructed officials to distribute free solar pump sets. Additionally, the government is exploring…