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JSW Energy Q2 FY 2025 net profit at Rs 8.53 billion, revenue up 2% YoY

India, News

JSW Energy reported a consolidated net profit of Rs 8.53 billion for the quarter ended September 2024 (Q2 FY 2025), slightly up from Rs 8.5 billion in the same period last year. The company’s total revenue for Q2 FY 2025 reached Rs 34.59 billion, marking a 2% year-on-year increase. Net generation for the quarter rose by 14% YoY to 9.8 billion units, driven by wind capacity additions and higher generation at thermal and hydro plants….

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Azure Power secures REC and HSBC refinancing, completes early bond prepayment

India, News

Azure Power Global Ltd, a leading renewable power producer in India, has completed an Rs 24 billion refinancing transaction structured as an INR Term Loan underwritten solely by REC Ltd.  This transaction enabled the company to prepay its $350 million Green Bonds, originally issued in 2019, which were set to mature in December 2024. These bonds were backed by 10 solar projects commissioned between 2016 and 2019. Previously, Azure Power completed an Rs 13 billion…

Power Sector News Roundup for October 18, 2024

Power Bytes

Global: Philippines DOE to commercialize three offshore wind projects Global energy system faces rising risks amid geopolitical strains: IEA Dominion Energy and Amazon sign MoU for SMR development in Virginia Ohmium partners with SwitcH2 Offshore for offshore green hydrogen and ammonia project ARCO/Murray to build Boviet Solar’s manufacturing hub in North Carolina IEA’s Fatih Birol: Fossil fuel demand to peak as world enters “age of electricity” Constellation Energy orders $100m transformer for Three Mile Island…

Power Sector News Roundup for October 8, 2024

Power Bytes

Global: Malaysia’s power utility partners with Keppel to supply 100 MW in cross-border deal Taihan Cable secures contract for Singapore’s 400 kV power grid Runergy launches solar module manufacturing facility in US EET to develop UK’s first large-scale low-carbon hydrogen hub CWP Global to develop 600 MW green hydrogen project in Angola India: IEX posts 24% growth in trading volume, REC prices hit all-time low in September 2024 GAIL, AM Green signs MoU to jointly…

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Powerica selects GE Vernova wind turbines for 51.3 MW project in Gujarat

India, News

Powerica Limited, a key player in the IPP and EPC segments of the wind industry with a 280 MW pan-India portfolio, has chosen to install 19 GE Vernova 2.7 MW-132 wind turbine generators (WTGs) for its 51.3 MW wind energy project at Devbhumi Dwarka, Gujarat. The project, part of SECI XVI tranche, will contribute to India’s renewable energy growth and benefit the local community. The WTGs, expected to generate around 160 million units annually, will…

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Zelestra secures €132 million financing for 435 MW solar project in Rajasthan

India, News

Zelestra has finalized €132 million in green financing for its 435 MW solar photovoltaic project in Gorbea, Rajasthan. The financing was provided by HSBC, Credit Agricole, MUFG, and Bank of America, aligning with Zelestra’s Green Financing Framework and the Green Loan Principles issued by the Loan Market Association. The project will supply power to the Solar Energy Corporation of India (SECI) under a 25-year agreement. The solar plant is expected to generate enough electricity to…

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Sekura Energy acquires 350 MW solar assets from O2 Power for Rs 20 billion

India, News

Sekura Energy, the energy platform owned by Edelweiss Alternatives, has acquired 350 MW of operational solar assets from O2 Power in Madhya Pradesh for Rs 20 billion. These assets were developed under the Rewa Ultra Mega Solar (RUMSL) initiative, a joint venture between Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikas Nigam (MPUVNL). Petronas-owned Gentari was also in contention for the acquisition. In 2021, Beempow Energy, a subsidiary of O2 Power, secured…

Institutional Infrastructure of Energy in India

Power 101

India’s energy sector is supported by a vast and multi-tiered institutional infrastructure that includes ministries, regulatory bodies, public sector undertakings (PSUs), and research institutions. These entities work together to manage, regulate, and oversee energy production, distribution, and policy implementation. Below is an overview of the key institutions involved in India’s energy landscape. Ministries Ministry of Power (MoP): The Ministry of Power is responsible for developing and managing the country’s power sector. It oversees electricity generation,…

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Government issues guidelines for the implementation of VGF for offshore wind projects

India, News

The central government has unveiled guidelines for the viability gap funding (VGF) scheme, allocating Rs 74.53 billion to support offshore wind energy projects along the Gujarat and Tamil Nadu coasts. The scheme designates Rs 68.53 billion for 1,000 MW of offshore wind capacity and Rs 6 billion for port infrastructure. The Ministry of New and Renewable Energy will oversee the scheme, with Solar Energy Corporation of India Limited (SECI) managing applications, awards, and progress. The…

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…