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CIL to invest Rs 1.33 trillion in 119 projects to boost coal output

India, News

Coal India Limited (CIL) is advancing 119 projects with a sanctioned capital of Rs 1.33 trillion to enhance coal production and meet the growing energy demand.  The projects are in various stages of implementation and are expected to significantly augment CIL’s output. In the financial year 2023-24, CIL aims to achieve a production target of 780 million tonnes, an increase from the previous year’s 703 million tonnes. This target aligns with India’s objective of reducing…

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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DVC highest bidder for Hiranmaye Energy assets

India, News

Damodar Valley Corporation (DVC) has emerged as the highest bidder in the auction for Hiranmaye Energy’s assets, offering Rs 15 billion, surpassing the reserve price of Rs 13 billion.  This marks DVC’s first acquisition, adding to its total installed capacity of around 6,700 MW, including greenfield and brownfield expansions.  Hiranmaye Energy operates a 300 MW thermal power plant in Haldia, West Bengal, with two units of 150 MW each. The company holds a 25-year power…

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CMPDI invites bids for 5 MW floating solar project in West Bengal

India, News

The Central Mine Planning and Design Institute (CMPDI), a subsidiary of Coal India, has invited bids to develop a 5 MW grid-connected floating solar project at the quarry sump of Dalmia OCP in the Salanpur Area of West Bengal for Eastern Coalfields. The last date for bid submission is October 24, 2024. The project has an estimated tender value of Rs 310.14 million, with bidders required to submit an earnest money deposit of Rs 3.87…

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Ahasolar Technologies wins consultancy contract for 300 MW solar project in Gujarat

India, News

Ahasolar Technologies Limited has received a work order worth Rs 11 million from Coal India Limited (CIL) to serve as the engineer and project management consultancy for a 300 MW solar photovoltaic (PV) plant at Gujarat Industries Power Company Limited’s (GIPCL) solar park in Khavda, Gujarat. The project is expected to be completed within 27 months.

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CIL inks JVA with RRVUNL to set up a thermal power project

India, News

Coal India Limited (CIL) has entered into a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to establish a 2×800 MW brownfield thermal power project at RRVUNL’s existing Kalisindh thermal power station. Under the agreement, CIL will hold a 74% stake in the joint venture company (JVC), while RRVUNL will hold the remaining 26%. The JVC will be established as a private limited company with an initial paid-up capital of Rs…

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Adani Power to acquire Lanco Amarkantak Power for Rs 41.01 billion

India, News

Adani Power announced that the Hyderabad bench of the National Company Law Tribunal (NCLT) has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 41.01 billion. LAPL is currently undergoing the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code. Under the approved plan, Adani Power will acquire 100% shareholding in LAPL for cash. LAPL operates a 2×300 MW (600 MW) thermal power plant in Korba, Chhattisgarh,…

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Lenders of KSK Mahanadi Power plan new auction after Adani’s Rs 270 billion bid

India, News

Lenders of the bankrupt KSK Mahanadi Power Company, which operates a 3,600 MW coal-based power plant in Chhattisgarh, are planning another auction round in early September. This decision follows the Adani Group emerging as the highest bidder with an offer of Rs 270 billion. Competing bidders will be allowed to surpass Adani’s offer in this new auction. KSK Mahanadi currently has three operational units of 600 MW each, with additional units under construction. In the…

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Rajasthan Cabinet approves JV in energy sector

India, News

The Rajasthan Cabinet, chaired by Chief Minister Bhajanlal Sharma, approved establishing four joint venture companies focused on renewable and thermal power generation and transmission. The Cabinet also approved the development of metro rail projects under a joint venture with the central government, which is in line with the Metro Rail Policy 2017. Following an MoU signed with various central public sector companies on March 10, 2024, the state Cabinet approved the formation of joint ventures…

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Adani Group to invest USD 35 billion in renewable energy over five years

India, News

The Adani Group has announced plans to invest USD 35 billion over the next five years to establish large-scale renewable energy plants across India.  The focus will be on solar, wind, and hybrid energy systems, aiming to play a significant role in the global energy transition. Sagar Adani, Executive Director of Adani Green Energy, revealed this initiative during a CEO panel discussion at the SBI Economic Conclave. He described it as one of the world’s…