Key Power Sector News Roundup for September 20, 2024

Power Bytes

Tata Group and Analog Devices Collaborate on SemiconductorsTata Group and Analog Devices have partnered to explore semiconductor manufacturing in India, focusing on applications for electric vehicles and network infrastructure.  uctor supply chain. Sunsure Energy Secures Rs 100 Billion REC FinancingSunsure Energy has secured Rs 100 billion in financing from REC to support 3 GW of solar, wind, and energy storage projects, aiming to offset 5 million tonnes of CO2 annually and aid India’s green energy…

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ABB India launches new Smart Home automation system

India, News

ABB India, a global leader in electrification and automation, has introduced ABB-free@home®, a Smart Home automation system in India designed to enhance comfort, security, and energy efficiency for residential users. This wireless solution allows users to integrate and control various devices, including white goods, third-party gadgets, and EV chargers, through a single interface. The ABB-free@home® system includes a Matter Bridge Add-on, enabling seamless integration with a variety of smart devices via the emerging open-source Matter…

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Telangana secures Rs 315 billion investment during Chief Minister’s US visit

India, News

During Telangana Chief Minister A Revanth Reddy’s visit to the US, the state secured investment deals worth Rs 315 billion, 19 investment deals and MoUs. Key sectors benefiting from these investments include IT, Global Capability Centers (GCC), life sciences, pharmaceuticals, data centres, AI, cloud services, electric vehicles, green energy, FMCG, and manufacturing. Major announcements in the IT sector include a new Global Capability Center by Charles Schwab and significant expansions by global IT giants Cognizant…

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REC Limited’s market capitalization and net profit surge in Q1 FY 2024

India, News

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….

Global

News Subsections News India Global Cadeler secures turbine installation contract fir UK’s EA 2 wind farm November 7, 2024 Cadeler has signed firm contracts for transporting and installing 64 offshore wind turbines, each with a capacity of 15 MW, along with their foundations for the East Anglia 2 (EA2) wind farm, a 960 MW project in the UK.  The contract value for… E2E Energy and Novus Earth to develop geothermal project in Canada November 7,…