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Suzlon’s Q2 net profit surges 96% to Rs 2 bn
Suzlon Group reported a net profit of Rs 2 billion for the quarter ending September 2024, marking a 96% increase from Rs 1.02 billion in the same period last year. Total income rose by approximately 48% to Rs 21.21 billion, up from Rs 14.29 billion in the corresponding quarter of the previous year.
NKT expands offshore cable production with new tower in Sweden
NKT has started slipform casting for a third extrusion tower at its offshore high-voltage cable factory in Karlskrona, Sweden, to meet the rising demand for renewable energy cables. The 200-meter tower, Sweden’s second tallest, will enhance NKT’s capacity to produce larger, longer high-voltage offshore cables. This investment is part of NKT’s strategy to handle its order backlog and expected market growth, including adding a second cable-laying vessel by 2027 and hiring 500 new employees. Using…
EBRD provides €25.1 million loan for Bosnia’s largest solar power project
The European Bank for Reconstruction and Development (EBRD) has announced a €25.1 million loan to Elektroprivreda Bosne i Hercegovine (EPBiH), the leading public electricity utility in Bosnia and Herzegovina, to finance the development of a 50 MWp solar power plant on a former coal ash landfill in Gračanica. UniCredit Bank d.d. is contributing an additional €15 million in parallel, mobilized through the EBRD’s efforts. The combined funding will support the development, construction, and operation of…
Kalpataru Projects Q1 FY 2025 results
Kalpataru Projects International Limited (KPIL) has released its financial results for the quarter that ended June 30, 2024. The consolidated revenue for the first quarter of fiscal year 2025 increased by 8.2 per cent year-over-year (YoY) to Rs 45.87 billion, driven primarily by the transmission and distribution (T&D) and buildings and factories (B&F) sectors. The company’s EBITDA stood at Rs 3.78 billion, with an EBITDA margin of 8.2 per cent. However, the EBITDA margin experienced…
Eku Energy achieves financial close for Williamsdale BESS in Australia
Eku Energy has reached a financial close on its 250MW/500MWh Williamsdale Battery Energy Storage System (BESS) project in Canberra, ACT, marking a significant advancement in the ACT government’s Big Canberra Battery initiative. Powered by Tesla Energy’s megapacks, the system will help store renewable energy to meet one-third of Canberra’s electricity needs during peak demand. The Williamsdale BESS will connect to Evoenergy’s distribution network, bolstering Canberra’s energy security and supporting the region’s net zero emissions target…
Sterlite Power secures Rs 12 billion in new orders in Q2FY25
Sterlite Power announced new orders worth Rs 12 billion across its Global Products and Services (GPS) business in Q2FY25, bringing cumulative orders to Rs 27 billion for H1FY25. The GPS division focuses on high-performance, sustainable products and specialized EPC services. This quarter’s highlights included India’s first order for a 144-fiber count Optical Ground Wire (OPGW) cable from a state utility. In Q2FY25, Sterlite Power’s key order segments included: High-Performance Conductors & OPGW: New orders worth…