Search Results for: India

Energy and environment solutions provider Thermax reported an 82% increase in consolidated net profit, reaching Rs 1.09 billion in Q1 FY25, up from Rs 600 million the previous year, driven by higher revenues. Consolidated operating revenue rose by 13% to Rs 21.84 billion from Rs 19.33 billion in the same quarter last fiscal. The order booking for the quarter stood at Rs 25.69 billion, nearly unchanged from Rs 25.67 billion a year ago. The board…

Battery maker Amara Raja Advanced Cell Technologies and electric vehicle manufacturer Ather Energy have signed a Memorandum of Understanding (MoU) to develop and supply Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) Lithium-Ion (Li-ion) cells along with other advanced chemistry cells. These cells will be produced at Amara Raja’s upcoming Gigafactory in Divitipally, Telangana. Amara Raja recently agreed with Gotion-InoBat-Batteries (GIB) to localise global LFP technology for the Indian market. Additionally, the company has…

The proposed 1600 MW coal-based ultra supercritical thermal power project in Mirzapur, Uttar Pradesh, does not involve forest land for the main site, but 8.35 hectares of forest land is needed for a water pipeline and road access, the government informed Parliament. The National Green Tribunal (NGT) recently took suo motu notice of a report indicating that the 665 hectares of land for the project site is recorded as a ‘forest’ in a 1952 gazette…

Hyundai, Kia Motors, Tata, and Mahindra are lobbying against Uttar Pradesh’s decision to offer hybrid car incentives. They argue it undermines the push for electric vehicles (EVs) and disrupts investment plans. Uttar Pradesh, which accounts for 10% of India’s car sales, recently waived registration taxes on some hybrid cars, making them 10% cheaper. This move saves up to $5,200 on a Toyota Camry hybrid. Hyundai, Kia, Tata, and Mahindra, who don’t sell hybrids in India,…

Sri Lanka’s Supreme Court has scheduled a hearing for October 14 on five fundamental rights petitions against the Adani Group’s wind power plant in Mannar. The respondents are required to file objections by September 13. Environmental NGOs, led by the Wildlife and Nature Protection Society, argue that the project endangers biodiversity and threatens migratory birds. The petitions challenge the legality of the Cabinet’s decision to treat the Adani project as a Sri Lanka-India government-to-government venture,…

Ola Electric Mobility Ltd.’s IPO saw a muted response on the first day (August 1). Retail investors fully subscribed within three hours. Investors bid for 163.4 million shares, or 0.35 times the 465.1 million shares offered. The bidding closes on August 6. The IPO was subscribed 0.35 times overall, led by retail investors at 1.57 times. Non-institutional investors subscribed 0.20%, while qualified institutional buyers made no bids. The employee quota was subscribed 4.88 times. Ola…

The Central Electricity Authority (CEA) has approved two Hydro Pumped Storage Projects (PSPs): the 600 MW Upper Indravati in Odisha by Odisha Hydro Power Corporation (OHPC) and the 2000 MW Sharavathy in Karnataka by Karnataka Power Corporation Limited (KPCL). These approvals were supported by the Central Water Commission (CWC), Geological Survey of India (GSI), and Central Soil and Materials Research Station (CSMRS). CEA has received Hydro PSP proposals totalling around 60 GW, currently under Survey…

The Central Electricity Authority (CEA) of India has issued a draft amendment to the “Manual on Transmission Planning Criteria, 2023,” which took effect on April 1, 2023. This document outlines the planning procedures and criteria for developing India’s electricity transmission system. The amendment introduces a new chapter detailing procedures for planning electric power transmission systems and updates parameters for certain conductors. It aims to enhance the planning and development of a reliable, efficient, and economical…

Shakti Pumps (India) Ltd announced it has received a Letter of Intent (LoI) from the Department of Agriculture, Uttar Pradesh, for the supply, installation, and commissioning of 12,537 solar water pumps across the state. The contract, valued at approximately Rs 5.58 billion, was awarded under Component-B of the PM-KUSUM scheme (Phase-III). The project is to be completed within 120 days from the issuance of the letters of proceed. Under Component-B of the PM-KUSUM Scheme, individual…

HPL Electric & Power Ltd announced that its outstanding order book as of July 30, 2024, stands at over Rs. 37 billion. This substantial order book indicates a strong pipeline, ensuring sustained revenue generation and growth opportunities for the company. The company has bolstered its leadership in the smart metering sector, reporting a 35.67% year-on-year increase in revenue from its Metering, Systems & Services segment. This growth is attributed to a steady flow of orders…