Search Results for: REC

Adani Power has reported a 55 per cent year-on-year decline in net profit, amounting to Rs 39 billion, compared to Rs 87.59 billion in the same period last year. Despite the profit drop, the company’s revenue increased by 36 per cent year-on-year, reaching Rs 147.17 billion from Rs 110.05 billion in the corresponding quarter of the previous year. Power demand across India continues to grow strongly, with aggregate demand rising by 10.6 per cent year-on-year…

Power Grid Corporation of India Limited (PGCIL) has emerged as the lowest bidder (L1) for the Transmission system for evacuation of power from Renewable Energy Zones (REZ) in Rajasthan (20 GW) under Phase-III Part I. REC Power Development & Consultancy Limited (RECPDCL), its bid process coordinator, will transfer the special purpose vehicle (SPV) Rajasthan Part I Power Transmission Limited to PGCIL upon completion of formalities. The project is estimated at Rs 127 billion and will…

Wardwizard Innovations & Mobility Limited reported its financial performance for Q1 FY25, ending in June 2024. The company’s revenue increased to Rs 489.68 million, a 29.23 per cent year-on-year growth. Standalone total revenues rose from Rs 378.93 million in the same quarter of the previous year, while EBITDA jumped 60.13 per cent to Rs 76.48 million, with an EBITDA margin of 15.62 per cent, up by 302 basis points. The profit after tax (PAT) was…

The European Union’s (EU’s) suggestion that India impose a local carbon tax to avoid the EU’s Carbon Border Adjustment Mechanism (CBAM) will not significantly benefit Indian exporters, according to the Global Trade Research Initiative (GTRI). Even with a local tax, Indian firms would still owe the EU USD 51.3 per tonne of CO2 under CBAM, starting January 2026. While the global average carbon price is around USD 6 per tonne of CO2, India’s potential carbon…

Serentica Renewables, a subsidiary of Vedanta Group, is planning to expand its capacity, aiming to add nearly 2 GW in FY25 with a capital expenditure target of Rs 150 billion. The company currently has 4 GW under construction and plans to sign power purchase agreements (PPAs) for an additional 4 GW within the next two quarters. Serentica is also seeking partnerships for an energy storage project and has intentions to enter the green hydrogen sector…

The Ministry of Power (MoP) detailed steps taken to increase the production capacity between 2014-15 to 2023-24 in a recent press release. Between 2014-15 and 2023-24, India increased its power production capacity significantly. The installed capacity rose from 248,554 MW in March 2014 to 446,190 MW in June 2024, with coal-based power growing from 139,663 MW to 210,969 MW, and renewable energy from 75,519 MW to 195,013 MW. The country added 195,181 ckm of transmission…