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Mumbai Urja Marg to inaugrate 2,000 MW transmission line
The Mumbai Urja Marg, an inter-state transmission system project initiated by the Ministry of Power, is ready for formal inauguration, aiming to deliver an additional 2,000 MW of power across the Mumbai Metropolitan Region. The 90-km Padgha-Kharghar transmission line, developed by Sterlite Power, is expected to significantly enhance the region’s power supply, supporting infrastructure growth and improving the quality of life. The project, discussed in various meetings since 2016 and awarded through tariff-based competitive bidding…
Dalmia Cement aquires 26 per cent stake in Solsolis Solar Energy
Dalmia Cement (Bharat) Limited, a subsidiary of Dalmia Bharat Limited, has entered into an agreement to acquire 26 per cent of the equity share capital of Solsolis Solar Energy Solutions Private Limited. The acquisition involves 3.02 million equity shares, valued at Rs 30.24 million. This strategic investment will enable Dalmia Cement to source solar power as a captive consumer for up to 11.2 MW in Odisha. The deal, subject to customary conditions, is expected to…
Datta Power subsidiary signs Rs 15 billion MoU with REC for 500 MW renewable projects
Adyant Enersol Pvt Ltd, a subsidiary of Datta Power Infra, has signed a strategic memorandum of understanding (MoU) with REC Ltd for financing Rs 15 billion to develop 500 MW of renewable energy projects. The MoU was formalized at the 4th Global RE-INVEST Summit in Gujarat. This partnership sets the stage for Datta Infra’s larger vision of developing 2 GW of wind, solar, and wind-solar hybrid projects across Rajasthan, Madhya Pradesh, Andhra Pradesh, and other…
ARYA secures Rs 1 billion to develop CBG projects with IOCL and BPCL
ARYA, a subsidiary of GPS Renewables, has raised Rs 1 billion in mezzanine financing as part of a Rs 2 billion funding round aimed at establishing compressed biogas (CBG) projects in collaboration with Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). The financing was provided by InCred Opportunities Fund and Spark Capital, supporting ARYA’s mission to advance biofuel production and contribute to India’s net zero objectives. In the coming year, ARYA plans…
NTPC seeks shareholder approval to raise Rs 120 billion via NCDs
State-owned power giant NTPC will seek shareholder approval to raise up to Rs 120 billion by issuing Non-Convertible Debentures (NCDs) on a private placement basis at its annual general meeting on August 29. The board of directors approved the proposal on June 29, 2024, recommending the passing of a special resolution to raise the funds over the next 12 months. NTPC is in a capacity expansion mode, and a significant portion of its capital expenditure…
Luminous Power launches AmpBox: A breakthrough in gel battery energy storage
Luminous Power Technologies has introduced AmpBox, the first gel battery in the market offering power backup options for 3, 4, 5, and 6 hours. AmpBox addresses India’s power cut challenges, providing consumers with a reliable and uninterrupted power supply. Gel batteries use a gel-like electrolyte, minimizing leakage, reducing corrosion risk, and offering longer life with low maintenance. AmpBox is environmentally friendly and designed to perform in extreme temperatures, making it ideal for residential and commercial…