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Power Finance Corporation (PFC) has secured a long-term loan of JPY 25.5 billion from the Japan Bank for International Cooperation (JBIC) under its ‘Global Action for Reconciling Economic Growth and Environmental Preservation’ (“GREEN”) initiative. The loan, co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks, will support a 300.3 MW wind energy project by Ostro Kannada Power Private Limited (OKPPL) in Karnataka, India. JBIC will also provide a guarantee for the portion of the…

Sterlite Power announced it secured orders worth Rs 15 billion across its Global Products and Services (GPS) business in Q1 FY25. These new orders, both domestic and international, add to the company’s total order book, which stood at over Rs 65.6 billion at the beginning of the financial year. Sterlite Power secured major orders for high-performance conductors and Optical Ground Wire (OPGW), especially for Tariff Based Competitive Bidding (TBCB) transmission projects. This has helped maintain…

Projects totalling Rs 2.62 trillion have been sanctioned under the Revamped Distribution Sector Scheme (RDSS), as informed in Parliament. These projects encompass power distribution infrastructure works and smart metering deployment. The RDSS, with a total outlay of Rs 3.04 trillion and gross budgetary support of Rs 0.98 trillion, runs from FY22 to FY26 and aims to roll out 250 million smart energy meters. Additionally, through schemes like Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated…

The National Committee on Transmission (NCT) is considering a subsea High Voltage Direct Current (HVDC) line to meet the rising power demand in the Andaman & Nicobar Islands (ANI). This project aims to address ANI’s projected peak demand of 79 MW by FY30 and reduce reliance on diesel generators, which currently supply a significant portion of the Union territory’s power. The proposed HVDC link will deliver electricity from Paradeep, Odisha, through a ±320kV, 500-MW HVDC…

KEI Industries undertook capital expenditure (capex) of approximately Rs 1.45 billion in the first quarter of FY25, focusing mainly on a new greenfield plant in Sanand, Gujarat. The company spent Rs 760 million on the Sanand plant, while the remaining Rs 690 million was allocated to brownfield expansions across other facilities, including Chinchpada (Rs 240 million), Bhiwadi (Rs 210 million), and Pathredi (Rs 140 million). The Chinchpada plant in Silvassa will see increased wire and…

Revfin, a digital lending platform in India, has teamed up with Bajaj Auto to promote electric three-wheelers (e3Ws). This partnership aims to enhance the customer experience for Bajaj’s e3Ws, particularly in Tier-2 and Tier-3 cities, using Revfin’s psychometric assessment capabilities. The collaboration will also focus on developing infrastructure, such as charging networks, to support the widespread adoption of e3Ws.

Tata Power has announced that it will acquire a 40% stake in Khorlochhu Hydro Power Limited (KHPL) for Rs 8.3 billion to develop a 600 MW hydro project in Bhutan. The company is partnering with Druk Green Power Corporation for this project, which has an estimated total cost of Rs 69 billion. In an exchange filing, Tata Power stated that the acquisition would occur in multiple tranches, with the first tranche payment expected within six…

Power Finance Corporation (PFC) reported a consolidated net profit of Rs 71.82 billion for Q1 FY25, marking a 20.06% increase from Q1 FY24. The company’s total revenue from operations grew by 17.65% to Rs 247.17 billion during the same period. Total income rose by 17.69% year-on-year to Rs 247.37 billion. For the quarter ended June 30, 2024, PFC’s consolidated profit before tax increased by 20.17% to Rs 88.94 billion, compared to Rs 74.01 billion in…

Maharashtra plans to increase its solar energy capacity by 9,200 MW, raising its total from 3,600 MW to 12,800 MW within the next 14 months. State Power Minister Devendra Fadnavis announced the work orders under the Mukhyamantri Saur Krushi Vahini Yojana-2.0, India’s first solarization project for agricultural pumps. The initiative aims to halve power costs for agricultural pumps, reduce cross-subsidy burdens, lower tariffs for industrial and commercial users, and cut government subsidy expenses by about…

Wind energy solutions provider Inox Wind has secured an order for a 201 MW project from Integrum Energy Infrastructure Ltd. The order includes the supply of Inox Wind’s latest 3 MW Wind Turbine Generators (WTGs) and multi-year operations and maintenance (O&M) services post-commissioning. The project will span four states: Madhya Pradesh, Rajasthan, Karnataka, and Maharashtra. Integrum Energy Infrastructure, established by pioneers in the commercial and industrial (C&I) energy supply market in India, is dedicated to…