Skipper Limited has reported a new order inflow of Rs 7.65 billion in the first quarter of FY25, driven by significant contracts from Power Grid Corporation of India Limited (PGCIL) and other state utilities, as well as projects in the Middle East and Africa. The company’s order book as of June 30, 2024, totals Rs 58.44 billion, with 86 per cent coming from domestic sources. The portfolio includes a significant share from the T&D sector,…
Torrent Power Limited has announced its financial results for the quarter ending June 30, 2024. Let’s have a look at the key highlights. Financial Performance Revenue Growth: The company’s revenue from operations surged to Rs 71.93 billion, an increase of 50.3 per cent from Rs 47.87 billion in the prior quarter and 33.6 per cent from Rs 53.83 billion in the same quarter last year. Profit Metrics: Profit before tax reached Rs 12.73 billion, nearly…
JinkoSolar has formed a joint venture (JV) with a subsidiary of Saudi Arabia’s Public Investment Fund (PIF) and Vision Industries Company (VI) to establish a new factory in NEOM’s Oxagon city. This USD1 billion investment aims to pioneer digitalization and sustainability by producing 10 GW of TOPCon solar cells and modules annually. Slated for completion in 2026, the facility will be powered entirely by green energy and is expected to set a benchmark with the…
NTPC Limited has released its key performance highlights and unaudited financial results for the quarter ending June 30, 2024. Let’s have a look at the key performance highlights. Installed and Commercial Capacity As of June 30, 2024, NTPC’s installed capacity reached 76,048 megawatts (MW), an increase of 3,024 MW from June 2023. Similarly, NTPC’s standalone installed capacity rose to 59,168 MW, an uptick of 2,130 MW. The commercial capacity stood at 76,048 MW—an increase of…
The governments of India and Saudi Arabia discussed various opportunities for bilateral investments in diverse areas in the public and private sectors, including refining and petrochemical plants, new and renewable energy, and power. They reviewed measures aimed at promoting two-way investments in a mutually beneficial manner at the first meeting of the India-Saudi Arabia High-Level Task Force on Investments.
The surge in solar panels and wind turbines is leading to an increase in negative wholesale electricity prices. This phenomenon, occurring in regions such as southern Australia, southern California, France, and Switzerland, happens when production exceeds demand. For example, in southern Australia, negative prices have been recorded about 20 per cent of the time since last year. Southern California saw negative prices over 20 per cent of the time in the first half of 2024,…
The government of Jammu and Kashmir has approved a Rs 4 billion rooftop solar project to be installed on government buildings across the region. This project, to be implemented by the Jammu and Kashmir Energy Development Agency (JKEDA), is part of the Union Territory’s efforts to increase renewable energy usage and reduce carbon emissions. The project aims to install 270 MW of solar power plants, reducing carbon emissions by approximately 8.3 million tons over 25…
Coal India Limited (CIL) is advancing 119 projects with a sanctioned capital of Rs 1.33 trillion to enhance coal production and meet the growing energy demand. The projects are in various stages of implementation and are expected to significantly augment CIL’s output. In the financial year 2023-24, CIL aims to achieve a production target of 780 million tonnes, an increase from the previous year’s 703 million tonnes. This target aligns with India’s objective of reducing…
REC Limited’s market capitalization surged by 219 per cent in the first quarter, reaching Rs 600 billion. Additionally, REC’s net profit saw an increase of Rs 3.44 billion, resulting in a total profit of Rs 32.23 billion for the quarter. This performance is attributed to higher income from operations, reduced finance costs, and improved asset quality. REC’s income from operations rose to Rs 100.71 billion, an 11 per cent increase compared to the previous year….
The Ministry of Science and Technology announced the discovery of 1,600 tonnes lithium reserves in Karnataka’s Mandya and Yadgiri districts. The Atomic Minerals Directorate for Exploration and Research (AMD) located these resources in the Marlagalla area of Mandya through initial surveys and subsurface exploration. AMD is exploring other potential lithium sources in India, including Korba district in Chhattisgarh, mica belts in Rajasthan, Bihar, and Andhra Pradesh, and pegmatite belts in Odisha, Chhattisgarh, and Karnataka. Lithium,…
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