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ACCA report warns of inadequate climate preparedness among businesses
The ACCA’s latest report, Weathering the Storm: Building Resilience Against Climate Disruptions, reveals that most businesses and organizations are ill-prepared for climate-related disasters, with outdated continuity plans that fail to account for the rising frequency of such events. The report shows only 20% of surveyed organizations have identified climate risks across their operations, and just 17% regularly rehearse responses to major disruptions, while 25% lack any resilience-building mechanisms. ACCA Head of Sustainability, Emmeline Skelton, emphasizes…
MoP unveils National Electricity Plan for transmission
The Ministry of Power (MoP) has launched the National Electricity Plan for transmission, targeting the transmission of 500 GW of renewable energy by 2030 and over 600 GW by 2032. The plan also addresses the need for 47 GW of battery energy storage systems and 31 GW of pumped storage plants. From 2022-23 to 2031-32, the plan aims to add over 191,000 circuit km of transmission lines and 1,270 GVA of transformation capacity at 220…
Open Access secures $750,000 investment to boost South Africa’s renewable energy sector
Open Access Energy (OAE), a software company focused on energy transactions, has secured a $750,000 investment from Factor E Ventures as part of a $1.5 million seed funding round. This investment is aimed at enhancing South Africa’s energy stability and supporting the country’s transition to renewable energy. Founded in 2021, OAE has developed innovative platforms like Amptera and Energypro, which facilitate real-time energy transactions and improve energy management for independent power producers (IPPs) and municipalities….
Servotech reports Q1 FY25 results: revenue up 41 per cent, net profit grows 9 per cent
Servotech Power Systems Ltd., a leading manufacturer of Electric Vehicle (EV) chargers, solar solutions, and power-backup solutions, has announced its quarterly results. The company’s net profit after tax (PAT) in the first quarter of FY2024-25 was Rs 44.8 million, up from Rs 41.0 million in the same quarter last year. Key Highlights of the Quarterly Results: Consolidated Highlights Total Revenue: Grew by 41 per cent in Q1 FY25 to Rs 1.12 billion from Rs 798.1…
EDF receives ASN approval for first nuclear reaction at Flamanville 3 reactor
France’s nuclear safety authority, Autorité de Sûreté Nucléaire (ASN), has granted EDF a critical divergence agreement for the Flamanville 3 reactor, allowing the initiation of its first nuclear reaction. Following the fuel loading in May 2024, this marks a significant milestone for the European Pressurised Reactor (EPR) teams. The divergence process will trigger a stable nuclear reaction at a very low power level, just 0.2% of the reactor’s capacity. Afterwards, a detailed testing phase will…
BHEL secures Rs 133 billion EPC contract for DVC’s Koderma thermal power project
Bharat Heavy Electricals Ltd (BHEL) has officially announced winning the EPC contract worth Rs 133 billion for Damodar Valley Corporation’s (DVC) Koderma thermal power project in Jharkhand. BHEL will establish a 2×800 MW coal-fired supercritical power plant in Koderma district on an EPC basis. The project scope includes the supply, erection, commissioning, and civil works. Key equipment will be provided by BHEL’s manufacturing units in Haridwar, Trichy, Bengaluru, Hyderabad, Bhopal, and Ranipet, while the site…