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Navratna status granted to SJVN, RailTel, NHPC

India, News

The central government has elevated four public sector companies—SJVN, Solar Energy Corporation, NHPC, and RailTel Corporation of India—to Navratna status. This upgrade, announced by the Ministry of Finance on August 30, brings the total number of Navratna Central Public Sector Enterprises (CPSEs) in India to 25. Out of the four companies, three are publicly traded: RailTel, SJVN, and NHPC. Following the announcement, shares of RailTel and SJVN surged over five per cent when the stock…

Power Sector News Roundup for November 14, 2024

Power Bytes

Global: NSW approves A$4.8bn Humelink transmission project Ramboll completes acquisition of K2 Management Capital Dynamics secures £48.5m funding for Scottish onshore wind projects Oklo signs LOIs with data centres to supply 750MW of low-carbon power Bureau Veritas acquires Versatec Energy to expand energy sector services Six nations join pledge to triple nuclear power by 2050 at COP29 rPlus Energies secures PPA with Idaho Power for 125MW Pleasant Valley Solar 2 project Orlen Group secures EIB…

Power Sector News Roundup for November 13, 2024

Power Bytes

Global: Ofgem approves LionLink and Nautilus pilot projects for North Sea wind interconnectors Indonesia announces plans for 75GW renewable energy expansion over 15 years MDBs pledge $120 billion for low-income nations at COP29 Nordex secures order for 19 turbines for Québec wind project Enphase Energy launches AI-powered DIY permitting on Solargraf Elcogen secures €24.9 million EU grant for hydrogen tech expansion ADB approves USD 311 million loan for Nepal’s T&D infrastructure upgrade India: Power Grid…

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India issues 11,098 MW in renewable energy tenders, draws $103 mn in October investments

India, News

In October, India’s renewable energy sector surged with 16 new tenders, totalling a capacity of 11,098 MW.  Auctions allocated 6,316 MW to various developers, pushing India’s total renewable capacity beyond 200 GW, including large hydro, while total electricity generation capacity reached 452.69 GW.  Rajasthan, Gujarat, Tamil Nadu, and Karnataka led in renewable installations. Key tenders included NHPC’s 1,200 MW solar and SECI’s 1,200 MW round-the-clock renewables.  NTPC launched a 1,200 MW wind-solar hybrid tender with…

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NHDC commissions 88 MW Solar Power Plant in Madhya Pradesh

India, News

NHDC, a subsidiary of NHPC, has commissioned the full 88 MW capacity of the Omkareshwar Floating Solar Power Plant (FSPV) located in the reservoir of the Omkareshwar project in Madhya Pradesh.  This project, which went live on October 29, 2024, is expected to generate an annual capacity of 204.58 million units (MUs). The total project cost is Rs 5.89 billion. NHPC, India’s largest hydroelectric power developer, is also active in solar and wind energy through…

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RECPDCL incorporates SPV for ISTS project in Jammu & Kashmir

India, News

REC Power Development & Consultancy Ltd (RECPDCL) established a project special purpose vehicle (SPV) named “Ratle Kiru Power Transmission Ltd” on October 23, 2024, as a wholly-owned subsidiary. This SPV will develop the ISTS scheme titled “Transmission scheme for evacuation of power from Ratle HEP (850 MW) & Kiru HEP (624 MW): Part-A” in Jammu & Kashmir. The scheme, estimated to cost Rs 12.14 billion with a gestation period of 24 months, will provide ISTS…

Power Sector News Roundup for October 4, 2024

Power Bytes

Global Development: TotalEnergies kick-starts its largest US utility-scale solar farms with batteries. GE Vernova to supply 38 turbines for Boulder Creek Wind Farm in Queensland. RES sells 436.5 MW Tarong West Wind Farm to Stanwell in Australia. Texas approves Permian Basin Reliability Plan to meet rising electricity demand. China has invested over $100 billion overseas in cleantech since 2023. Axess Technologies secures cable installation contract for Denmark’s Thor offshore project. Powin secures $200 million credit…

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Patel Engineering emerges as L1 bidder for Teesta-VI Powerstation in Sikkim

India, News

Patel Engineering (PEL) has emerged as the lowest bidder (L1) for a Rs 2.4 billion contract awarded by NHPC for the Teesta-VI Powerstation in Sikkim. The project involves modifying a diversion tunnel into a tunnel spillway arrangement, including civil and hydro-mechanical (H&M) works, and is expected to be completed in 18 months. The contract covers construction of a tunnel spillway, gate operation chamber, precast bridge, and energy dissipation arrangement, among other tasks. PEL, with a…

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Renewable energy developers commit massive capacity investments at RE-Invest 2024

India, News

At the RE-Invest event in Gandhinagar, Gujarat, several renewable energy developers have made significant capacity creation commitments as part of their “Shapath Patra” agreements with the government. Reliance Industries (RIL) has pledged to set up 100,000 MW of additional renewable capacity by 2030, alongside manufacturing 20,000 MW per year of integrated solar PV and equivalent glass capacity. Other major commitments include: NTPC Ltd: 41,300 MW ReNew: 40,000 MW Adani Green Energy: 38,300 MW Hero Future…

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Indian state-run companies to raise Rs 50 billion through long-term bonds amid falling yields

India, News

Indian state-run companies, including THDC India, NHPC, India Infrastructure Finance, and Indian Renewable Energy Development Agency, are set to raise around Rs 50 billion ($595.61 million) through long-term bonds in the next two weeks. This move takes advantage of falling government bond yields and limited state debt supply, creating strong investor demand. With India’s 10-year bond yield at around 6.85% and 15-year yield at 6.90%, insurance companies are keen to invest in highly rated, long-duration…