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Hitachi Energy achieves record order backlog of Rs 89.1 billion
Hitachi Energy India Ltd reported a record-high order backlog of Rs 89.1 billion as of September 30, 2024, marking unprecedented revenue visibility for upcoming quarters. Orders for the quarter ending September 30 totalled Rs 19.52 billion, reflecting an 11.7% year-on-year increase, driven largely by renewable projects in utilities, power quality, and substations. Notable contributions also came from expansions and efficiency upgrades in existing plants, with significant orders from the transformer and power quality sectors spanning…
MNRE receives approval for revised solar power scheme under PM JANMAN and PM JUGA
The Ministry of New and Renewable Energy (MNRE) has received approval for a revised solar power scheme under PM JANMAN and Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PM JUGA). The scheme aims to electrify 100,000 un-electrified households in tribal and particularly vulnerable tribal groups (PVTG) areas using off-grid solar systems, with a total budget allocation of Rs 9.15 billion. It targets 18 Indian states, including Andhra Pradesh, Gujarat, and West Bengal, where grid electrification is…
PowerChina hands over 500 kV Thung Song substation to Thailand’s EGAT
Power Construction Corporation of China (PowerChina) has officially transferred the 500 kV Thung Song substation project to Thailand’s Electricity Generating Authority of Thailand (EGAT) after successful site acceptance tests. Located in Nakhon Si Thammarat, southern Thailand, the project is crucial for enhancing grid transmission capacity and ensuring stable power operations in the region. The project involved renovating and expanding an existing 230 kV air-insulated switchgear substation and constructing a new 500 kV gas-insulated switchgear substation.
India’s silver imports set to nearly double in 2024 amid rising solar demand
India’s silver imports are expected to almost double this year due to increased demand from solar panel and electronics manufacturers and as investors look to silver for better returns than gold, according to leading importers. Higher imports by the world’s largest silver consumer could support global prices, which are near their highest levels in over a decade. Last year, India imported 3,625 metric tons of silver. Chirag Thakkar, CEO of Amrapali Group Gujarat, a major…
Sugs Lloyd wins Rs 3 billion power infrastructure projects in Bihar
Sugs Lloyd has emerged as the lowest bidder for two Bihar government projects worth Rs 3 billion. The contracts include the supply, installation, testing, and commissioning (SITC) of a power substation along with high-tension (HT) and low-tension (LT) lines. CEO Satyakam Basu expressed excitement over this milestone, noting that the company is considering an IPO to expand operations and fulfil working capital needs.
India’s electric vehicle market to hit USD 238 billion by 2030
India’s electric vehicle (EV) market is on the cusp of a major transformation, with a projected growth to USD 238 billion by 2030. According to the latest “Electrify30: The Future of Mobility” report by Praxis Global Alliance, the nation’s EV ecosystem is expected to expand at a remarkable compound annual growth rate (CAGR) of 38% over the next decade. This growth is being fueled by a combination of proactive government policies, increased consumer awareness, and…