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Avista to acquire 10% stake in 3 GW North Plains Connector transmission project
Avista has signed a nonbinding memorandum of understanding to take a 10% ownership stake in the North Plains Connector, a 3 GW high-voltage direct current (HVDC) transmission line by Grid United’s subsidiary. This 420-mile line will connect the US eastern and western electric grids between Montana and North Dakota, enabling bi-directional power transport from various generation sources. The North Plains Connector, linking the Midcontinent Independent System Operator, Western Interconnection, and Southwest Power Pool, will enhance…
PFC reports 20% rise in Q1 FY25 net profit to Rs 71.82 billion
Power Finance Corporation (PFC) reported a consolidated net profit of Rs 71.82 billion for Q1 FY25, marking a 20.06% increase from Q1 FY24. The company’s total revenue from operations grew by 17.65% to Rs 247.17 billion during the same period. Total income rose by 17.69% year-on-year to Rs 247.37 billion. For the quarter ended June 30, 2024, PFC’s consolidated profit before tax increased by 20.17% to Rs 88.94 billion, compared to Rs 74.01 billion in…
Hindustan Zinc’s top-quality zinc used in India’s heaviest power transmission steel pole
Hindustan Zinc Ltd has announced that its premium zinc was used in the galvanization process for India’s heaviest power transmission steel pole. The 400kV dual pole structure, standing 57 meters tall, was galvanized using Hindustan Zinc’s special high-grade (SHG) zinc ingots and low-dross jumbo SHG zinc. This process provides essential protection against corrosion, air, water, heat, and pollution, enhancing the pole’s structural integrity. The structure, manufactured by Skipper Ltd, is part of the 400kV Quad…
BPCL to invest Rs 1.7 trillion in petrochemicals, green energy, refining
Bharat Petroleum (BPCL) plans to invest Rs 1.7 trillion over the next five years in petrochemicals, green energy, fuel marketing, and oil refining. Under its strategic plan ‘Project Aspire,’ BPCL aims to strengthen its core operations in refining and marketing while expanding into emerging sectors like green energy, gas, and non-fuel retail. Key investments include Rs 490 billion for an ethylene cracker project at the Bina refinery in Madhya Pradesh, which will boost refining capacity…
Adani Group signs pact for key electricity transmission lines in Kenya
Adani Energy Solutions Ltd (AESL) has signed an agreement with the Kenya Electricity Transmission Company Ltd (Ketraco) to build, finance, and operate key transmission lines in Kenya for 30 years. This initiative aims to upgrade Kenya’s transmission infrastructure to ensure a more reliable power supply amid persistent blackouts. The project, estimated at KSh 95.68 billion (USD 736 million), will be funded through a combination of debt and equity raised by AESL. The Kenyan government will…
Tamil Nadu Cabinet approves 14 projects with Rs 386.98 billion investment
The Tamil Nadu Cabinet has approved 14 new projects with a total investment commitment of Rs 386.98 billion, expected to generate 46,931 high-end employment opportunities across 12 districts. These projects span sectors including auto and electric vehicles, electronics, green energy, telecom equipment, and advanced manufacturing. Key investments include Freetrend Industrial India’s Rs 10 billion footwear manufacturing plant in Ariyalur, creating 14,000 jobs, and Leap Green Energy’s Rs 103.75 billion investment in a hydrogen power storage…