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Premier Energies receives approval for floating IPO

India, News

Premier Energies Limited, along with three other companies, has received approval from the Securities and Exchange Board of India (Sebi) to raise funds through Initial Public Offerings (IPOs), according to a recent update from the markets regulator. Premier Energies, a prominent solar cell company, plans to raise Rs 15 billion through its IPO. This offering includes a fresh issue of equity shares worth Rs 11.68 billion and an Offer For Sale (OFS) of up to…

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Ola Electric to launch Rs 55 billion IPO on August 2, 2024

India, News

Ola Electric Mobility is set to launch its initial public offering (IPO) on August 2, 2024, aiming to raise Rs 55 billion. The IPO will consist of a fresh issue of shares worth Rs 30 billion and an offer-for-sale (OFS) of Rs 25 billion by existing shareholders. The price band for the IPO has been set at Rs 200-215 per share. Ola Electric, a subsidiary of ANI Technologies (the parent company of Ola Cabs), is…

Power Sector News Roundup for November 21, 2024

Power Bytes

Global: Amazon invests in Greece’s largest wind energy project with three wind farms. China tightens solar PV investment guidelines to address overcapacity. SEC to build publicly owned renewable energy park in Horsham, Australia. Bekevar Wind Farm opens, providing 200 MW of renewable energy in Saskatchewan. Ofgem proposes £5-8 billion fund to accelerate UK energy transmission projects. TVA signs 10-year PPA for 14 GWh carbon-free energy with Smoky Hydro. Octopus Energy and Skyborn prequalified for French…

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NTPC targets Rs 5 trillion investment in green energy by 2030

India, News

NTPC has outlined an ambitious plan to invest Rs 5 trillion in green energy by 2030, led by its renewable energy subsidiary, NTPC Green Energy Ltd. (NGEL).  To support its projects, NGEL is set to launch an initial public offering (IPO) worth Rs 100 billion, focusing on renewable energy generation, green hydrogen, sustainable fuels, and energy storage. The company aims to add 60 GW of renewable energy capacity by 2032, with solar power accounting for…

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Power Grid acquires Khavda V-A transmission project

India, News

Power Grid Corporation of India Ltd (PGCIL) acquired “Khavda V-A Power Transmission Ltd” from REC Power Development & Consultancy Ltd (RECPDCL) on November 19, 2024. This project, valued at Rs 250 billion, is the largest interstate transmission system (ISTS) scheme awarded under the tariff-based competitive bidding (TBCB) mechanism. The project is India’s first TBCB-awarded transmission scheme employing HVDC technology, a departure from the earlier regulated tariff mechanism (RTM) for most HVDC projects. PGCIL will earn…

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…

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Sugs Lloyd wins Rs 3 billion power infrastructure projects in Bihar

India, News

Sugs Lloyd has emerged as the lowest bidder for two Bihar government projects worth Rs 3 billion. The contracts include the supply, installation, testing, and commissioning (SITC) of a power substation along with high-tension (HT) and low-tension (LT) lines.  CEO Satyakam Basu expressed excitement over this milestone, noting that the company is considering an IPO to expand operations and fulfil working capital needs.

Power Sector News Roundup for November 7, 2024

Power Bytes

Global: Trump as US president will deepen climate crisis: Policy experts Masdar, Sarawak Energy, and Gentari explore floating solar plant in Malaysia GE Vernova launches HVDC Competence Center in Berlin Global shift towards sustainable energy drives $3.1 trillion investment surge EWEC receives three bids for 1,500 MW Khazna Solar PV project in Abu Dhabi Cubico unveils Scout Moor II: 100 MW wind project to power 100,000 UK homes Singapore’s Punggol Digital District to feature first…

Power Sector News Roundup for November 6, 2024

Power Bytes

Global: Westbridge sells 75% stake in Alberta’s Sunnynook solar project to METLEN Emeren and Arpinge partner on 300MW battery storage portfolio in Italy EDF Renewables signs 20-year energy storage PPA with APS for 250 MW Beehive BESS UAE’s Nakheel and DEWA partner on 132 kV substation in Palm Jebel Ali Canada proposes 35% emissions cap on oil and gas sector by 2030 ACCIONA Energía acquires 300 MW of wind capacity in Texas FTC Solar to…

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PGCIL wins bid for 8 GW transmission project in Gujarat’s Khavda REZ

India, News

Power Grid Corporation of India Limited (PGCIL) has been awarded the inter-state transmission system (ISTS) project to evacuate power from the renewable energy zone in the Khavda area of Gujarat under Phase-V (8 GW), Part A. The project will be developed on a build, own, operate, and transfer (BOOT) basis. The project includes the establishment of 6,000 MW, ±800kV HVDC terminals at KPS2 (Gujarat) and Nagpur (Maharashtra), along with a ±800kV HVDC bipole line stretching…