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Borosil Renewables acquires 49 per cent stake in Clean Max

India, News

Borosil Renewables Limited has signed a share purchase agreement with Clean Max Prithvi Private Limited (CMPPL) and Clean Max Enviro Energy Solutions Private Limited (CMEESPL) to acquire a 49% stake in CMPPL. The acquisition involves purchasing 4,900 equity shares of Rs 10 each, representing 49% of CMPPL’s paid-up share capital, for Rs 49,000. Under the agreement, CMPPL plans to develop and operate a 16.50 MW hybrid solar-wind power plant in Gujarat. The power generated from…

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Voltalia secures contract for 128 MW solar project in Ireland from Ørsted

Global, News

Voltalia has been awarded a contract by Ørsted to manage the engineering, procurement, and construction of a 128 MW solar power facility located in County Carlow, Ireland. This new project strengthens Voltalia’s presence in Ireland, bringing the company’s total built or under-construction capacity in the country to over 540 MW. In 2023, Voltalia secured significant projects, including the 108 MW Timahoe North solar farm with ESB and Bord na Móna, and four additional photovoltaic projects…

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IEE sees 35.8% YoY volume growth in August 2024

India, News

In August 2024, the Indian Energy Exchange (IEX) achieved a total trading volume of 12,040 MU, including certificates, marking a 35.8% year-over-year increase. The electricity volume alone was 9,914 MU, up 17.1% YoY, while renewable energy certificates (REC) reached 2,116 MU, showing a remarkable 737.4% increase from the previous year. REC prices hit an all-time low of Rs 115 per certificate during the August 28, 2024 trading session, offering obligated entities like DISCOMS and Captive…

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PGCIL to implement two interstate transmission projects worth Rs 4.2 billion

India, News

Power Grid Corporation of India Ltd (PGCIL) has been nominated to execute two interstate transmission system (ISTS) projects under the regulated tariff mechanism (RTM) route, with a total investment of Rs 4.2 billion. The National Committee on Transmission (NCT) approved these projects during its meeting on August 23, 2024. The first project, the Eastern Region Expansion Scheme – 43 (ERES-43), has a budget of Rs 3.10 billion and an implementation period of 18 months, with…

Company Profile: NTPC

Features

NTPC Limited, India’s largest power utility, has shown strong financial performance, significant capacity expansion, and renewable energy and nuclear power initiatives. The company achieved record highs in market capitalisation, profit, and electricity generation while advancing its commitment to sustainability and innovation. Here’s a detailed look at NTPC’s achievements and plans. Financial Performance In FY 2023-24, NTPC reported a consolidated profit after tax (PAT) of Rs 213.32 billion, a 25% increase from the previous year. The…

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Ørsted to shut down final coal-fired plant in Denmark

Global, News

Ørsted has announced the closure of its last coal-fired heat and power plant in Esbjerg, Denmark, on August 31, 2024. This marks a major step towards making Ørsted’s energy generation nearly fossil fuel-free. Once known as one of Europe’s most coal-intensive energy companies, Ørsted has drastically reduced its reliance on coal, achieving a 92% reduction in scope 1 and 2 emissions from 2006 to 2023. The shutdown of the Esbjerg plant, along with the previously…

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Australia sees 20-fold increase in large-scale solar installations over six years

Global, News

Australia’s large-scale solar installations have increased 20-fold over the past six years. In 2023, renewable energy accounted for 35% of Australia’s total electricity generation, reaching a record high of 96 TWh. Solar power was the largest source of renewable energy, making up 16% of total generation, followed by wind at 12% and hydro at 6%. The National Electricity Market (NEM) saw renewable energy comprising 37% of the electricity mix. The expansion of solar photovoltaics (PV)…

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Challenges and action plan for a sustainable power sector in Bangladesh

Global, News

Bangladesh’s power sector is currently undergoing aggressive expansion with a focus on fossil-fuel-based capacity, leading to challenges such as overcapacity, high generation costs, revenue shortfalls, and a growing subsidy burden. The sector’s overcapacity is evident with an installed generation capacity of 28,166 MW compared to a peak demand of just 17,200 MW, resulting in a surplus of 38.9%, which rises to over 60% during the winter. This surplus is particularly problematic because the system is…

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Report: July 2024 Power sector installed capacity overview

Analysis, India, News

As of July 31, 2024, India’s total installed capacity for power generation reached 448,381.44 MW, covering various energy sources across different sectors and regions. The breakdown includes thermal power, which accounts for 242,996.91 MW, primarily derived from coal, lignite, gas, and diesel sources. Hydropower contributes 8,180 MW, covering major hydroelectric plants across the nation. Renewable energy sources (RES), which include solar, wind, biomass, and small hydro projects, account for 47,928.17 MW. Nuclear power adds another…

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India’s renewable capacity reaches 190.57 GW, solar leads the way

India, News

In FY 2024, India added 11.5 GW of new utility-scale solar capacity, an 18% increase from the previous year, according to a report by JMK Research. The rooftop solar sector also showed impressive growth, with 3 GW installed, a 34% year-on-year increase. Wind capacity additions reached 3.25 GW, a 42.9% rise compared to FY 2023. The momentum continued in Q1 2024, with approximately 7.5 GW of utility-scale solar capacity added, five times the amount installed…