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NCT approves six new projects worth Rs 96.7 billion

India, News

The National Committee on Transmission (NCT) recently recommended six interstate transmission system (ISTS) schemes with a total project outlay of nearly Rs 96.7 billion, to be implemented under the tariff-based competitive bidding (TBCB) mechanism. These schemes aim to enhance India’s power transmission infrastructure across various states. The first scheme focuses on developing a transmission system to supply power to green hydrogen and ammonia manufacturing in the Kandla area of Gujarat, with a planned capacity of…

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India’s power demand to grow by 15 GW annually

India, News

India’s power demand is set to increase at a rate of 15 GW per year over the next six years, up from 11 GW per year over the past decade, according to Srikant Nagulapalli, Additional Secretary for Power. Speaking at an Industry Conclave organized by IEEMA, Nagulapalli highlighted that by 2030, an additional 85 GW of demand will be added during solar hours, with more than 90 GW added to peak demand during non-solar hours….

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India’s silver imports set to nearly double in 2024 amid rising solar demand

India, News

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…

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India’s solar installations reach 14.9 GW in first half of 2024, despite Q2 slowdown

India, News

In the second quarter (Q2) of 2024, India commissioned 5 GW of solar capacity, a significant drop of over 49% compared to the 9.9 GW installed in Q1 2024. Despite this, the first half (1H) of 2024 saw a record 14.9 GW of solar projects added, a 282% increase compared to 1H 2023, according to Mercom India’s Q2 2024 Solar Market Update. The rise in capacity is attributed to the completion of several previously delayed…

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India’s second 700 MW nuclear reactor at Kakrapar reaches full capacity

India, News

India’s second home-built 700 MW nuclear reactor at the Kakrapar Atomic Power Station (KAPS) in Gujarat has started operating at full capacity as of August 21, 2024. According to the Nuclear Power Corporation of India (NPCIL), Unit 4 at KAPS, which had been operating at 90% capacity, has now reached its full power of 700 MWe. This achievement is credited to the indigenous design of the 700 MW pressurised heavy water reactor (PHWR). The unit,…

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Ireda to raise Rs 45 billion through FPO

India, News

Public sector non-banking financial company (NBFC) Ireda Limited plans to raise Rs 45 billion through a follow-on public offering (FPO). The company has scheduled a board meeting on August 29, 2024, to seek approval for the fundraising. The proposal includes raising funds via equity share capital through an FPO, Qualified Institutional Placement (QIP), Rights Issue, Preferential Issue, or other permitted methods. Ireda, under the Ministry of New and Renewable Energy (MNRE), aims to raise Rs…

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Ruloans partners with UGRO Capital to enter renewable energy finance market

India, News

Hi-Tech Pipes announced it has secured orders worth Rs 1.05 billion for the supply of electric resistance welded (ERW) steel pipes to customers in the renewable energy sector. These orders will be fulfilled from the company’s new manufacturing facility in Sanand, Gujarat, over the next three months. The ERW steel pipes will be used in various renewable energy applications, including wind farms, solar installations, and other green energy projects. Additionally, Hi-Tech Pipes’ board has approved…

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Tamil Nadu introduces Rs 5 million per MW charge for wind projects

India, News

Tamil Nadu has implemented a Rs 5 million per MW resource charge for wind projects connected to central transmission infrastructure, such as those by the Power Grid Corporation of India (PGCIL). This measure aims to meet the state’s renewable purchase obligation (RPO) and improve local wind resource management. The charge targets wind projects linked to the central grid, which do not directly contribute to Tamil Nadu’s RPO. This could impact project feasibility due to high…

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AIIB to invest Rs 7.3 billion in ENGIE Solar Power Project

India, News

The Asian Infrastructure Investment Bank (AIIB) will invest Rs 7.3 billion to support India’s renewable energy initiatives through the ENGIE Solar Power Project.  This project, co-financed with the Asian Development Bank (ADB), involves developing, building, and operating a 400 MW solar photovoltaic plant in Gujarat. Together, AIIB and ADB will provide up to Rs 14.6 billion in local currency as a project finance senior debt facility.

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Kaynes Technology to inaugurate advanced electronics unit in Telangana

India, News

Kaynes Technology, an electronics manufacturing services firm, will inaugurate an advanced electronics unit at Kongara Kalan, Telangana, on August 23, 2024. Following a memorandum of understanding (MoU) signed with the Telangana government in October 2023, the company has invested Rs 28.5 billion in the project. The unit will focus on services such as printed circuit board (PCB) manufacturing and other components. Additionally, Kaynes Technology is planning to establish a sophisticated OSAT (Outsourced Semiconductor Assembly and…