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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…

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ACME Sun Power secures Rs 37.53 billion loan from REC

India, News

ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured a Rs 37.53 billion term loan from REC Limited to develop a 320 MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN. The project aims to provide round-the-clock power, assisting distribution companies in meeting renewable purchase and energy storage obligations. Solar capacity will be developed in Jaisalmer, Rajasthan, while wind sites are planned in Bhuj and Jam Khambhaliya, Gujarat. A power…

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Torrent Power reports reduced T&D losses in major licensed areas

India, News

Torrent Power has reported a reduction in transmission and distribution (T&D) losses across most of its licensed and franchised distribution areas for the first half (April to September) of FY25.  In the Ahmedabad/Gandhinagar licensed area, T&D losses dropped from 6.30% in H1 FY24 to 4.50% in H1 FY25. Similarly, losses in the Dadra Nagar Haveli and Daman & Diu licensed area declined from 1.67% to 1.62%. Together, these two areas accounted for about 62% of…

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IndiGrid, BII, and Norfund launch $300 million platform

India, News

IndiGrid, British International Investment (BII), and the Norwegian Climate Investment Fund managed by Norfund have established EnerGrid, a $300 million platform focused on greenfield transmission and standalone battery energy storage system (BESS) projects in India.  Each partner will invest $100 million, with EnerGrid aiming to develop projects valued at approximately $1.2 billion over the next several years. Once operational, IndiGrid will acquire these projects at a pre-agreed enterprise value. IndiGrid’s Q2 FY25 investor presentation highlighted…

Power Sector News Roundup for November 12, 2024

Power Bytes

Global: ACCA report warns of inadequate climate preparedness among businesses. EnBW to install a 100 MW battery storage system in Marbach, Germany. ScottishPower signs £1 billion deal with Siemens Gamesa for East Anglia 2 offshore wind farm. Entrion Wind secures US patent for FRP monopile technology. SPPC awards 7.2 GW power project contracts under Saudi Vision 2030. Energy Vault to build a 57 MW battery storage project in Texas. Nexans to sell AmerCable to Mattr…

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Voltamp Transformers secures Rs 2,633.3 million contract from GETCO

India, News

Voltamp Transformers Limited has received a Letter of Intent (LoI) valued at Rs 2,633.3 million from Gujarat Energy Transmission Corporation Limited (GETCO) for the design, manufacturing, testing, and supply of various ratings of power transformers.  The project, awarded on November 5, 2024, is expected to be completed within 12 months.

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CTUIL invites bids for independent engineers for six transmission projects

India, News

Central Transmission Utility India Limited (CTUIL) has invited bids in six packages to appoint independent engineers for six major transmission projects. The projects include: Transmission System for Evacuation of Power from Renewable Energy zones in Khavda, Gujarat, under Phase-IV (7 GW capacity): Parts B and C. Transmission System for Power Evacuation from Rajasthan REZ Phase-IV (5.5 GW, Jaisalmer/Barmer Complex): Part H1. Network Expansion Scheme in Navinal (Mundra), Gujarat, for regional power drawal. Network Expansion Scheme…

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PFCCL transfers transmission subsidiaries to Powergrid

India, News

PFC Consulting Limited (PFCCL), a subsidiary of Power Finance Corporation Limited, has transferred two wholly owned subsidiaries, Khavda PSI and 3 Transmission Limited and Barmer I Transmission Limited, to Power Grid Corporation of India Limited (Powergrid) for a total of Rs 268.2 million.  Khavda PSI and 3 Transmission Limited was transferred for Rs 79.2 million, and Barmer I Transmission Limited for Rs 189 million.  Barmer I Transmission Limited focuses on establishing a new 765/400/220 kV…

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Inox Wind secures 87 MW order from Continuum Green Energy

India, News

Inox Wind Limited (IWL) has secured an 87 MW order from Continuum Green Energy for its 3 MW Wind Turbine Generators (WTGs). This repeat order will be executed on turnkey basis, with IWL providing multi-year operations and maintenance services post-commissioning. The projects are slated for Gujarat and Rajasthan. This addition brings Continuum’s total orders with IWL to approximately 700 MW and elevates IWL’s order book to over 3.4 GW, marking its highest level to date.  …

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Battery storage critical for India’s shift from coal, renewable capacity lags behind

India, News

India’s transition to renewable energy is encountering significant obstacles, according to a new report by Zero Carbon Analytics, as the country strives to meet its ambitious target of 500 GW of non-fossil fuel capacity by the early 2030s. Although renewable energy investment reached USD 12.4 billion in 2023, it is far from the USD 200 billion needed to achieve this goal. To stay on track, India needs to add 300 GW of new renewable capacity…