Author: PPD Team Date: 20/01/2025
Indian Renewable Energy Development Agency Limited (IREDA) posted a net profit of Rs 4.25 billion for the quarter ending December 2024, a 26.48% rise compared to Rs 3.36 billion in the same quarter last year.
The company’s revenue from operations increased by 35.59% to Rs 16.99 billion during the quarter, up from Rs 12.53 billion reported in the corresponding period of 2023.
Author: PPD Team Date: 05/02/2025 EDF Renewables North America (EDFR) and Power Sustainable Energy Infrastructure (PSEI) have announced the operational status of their Desert Quartzite solar+storage project in Riverside County, California. The project has a solar capacity of 375 MWdc/300 MWac and an energy storage capacity of 150 MWac/4 hours, delivering power to the Clean Power Alliance under a 20-year power purchase agreement. Located on Federal lands managed by the Bureau of Land Management, Desert…
Author: PPD Team Date: 04/03/2025 SJVN Limited has awarded a total of 648 MW of renewable energy projects under its Tranche-II and Tranche-III auctions. On February 28, 2025, NLC India Limited (NLCIL) secured a Letter of Award (LoA) for developing 200 MW Inter State Transmission System (ISTS)-connected wind power projects under Tranche-II, quoting a tariff of Rs 3.74 per kWh. The project will be implemented on a build, own, and operate (BOO) basis, including a…
Author: PPD Team Date: 28/11/2024 Singapore-based Maxeon Solar Technologies has announced plans to divest its non-US assets, concentrating exclusively on the US market to drive growth and profitability. Maxeon will lease a facility in Albuquerque, New Mexico, for solar panel production, targeting a 2 GW capacity by early 2026. The divestment includes its sales, marketing, and manufacturing operations in Europe, the Middle East, Africa, Asia-Pacific, and Latin America, which will be acquired by TCL Group,…
Author: PPD Team Date: 04/11/2024 Adani Power Jharkhand Limited (APJL), a subsidiary of Adani Power, has halved its power supply to Bangladesh, citing outstanding dues of $846 million, according to local media. Data from Power Grid Bangladesh PLC shows that supply from the 1,496 MW plant has been reduced to 700 MW from a single unit, exacerbating Bangladesh’s energy shortfall, which exceeded 1,600 MW overnight. On October 27, Adani warned the Bangladesh Power Development Board…
Author: PPD Team Date: 30/10/2024 Adani Power Ltd reported a nearly 50% year-on-year drop in net profit for Q2 FY25, with earnings at Rs 33.17 billion, down from Rs 66.16 billion in the same quarter last year. However, revenue from operations rose by 2.68% to Rs 133.39 billion, up from Rs 129.91 billion in Q2 FY24. EBITDA increased by 24.6% to Rs 54.02 billion, driven by higher sales volumes and reduced fuel and operating costs….
Author: PPD Team Date: 26/12/2024 UltraTech Cement has announced plans to source renewable energy through a captive arrangement with CleanMax’s special-purpose vehicle (SPV), Clean Max Sapphire. The company has acquired a 26% equity share in the SPV for Rs 457.6 million, entering agreements for energy supply, share subscription, and shareholder rights. The SPV will develop a 55 MW wind-solar hybrid project in Honawad, Vijayapur district, Karnataka, to supply power to UltraTech Cement. The share acquisition…