Key Power Sector News Roundup for September 24, 2024

Power Bytes

India Finalizes National Electricity Plan for 2032 with Rs 9 Trillion Outlay India’s National Electricity Plan (2023-2032), announced by Union power minister Manohar Lal, targets a Rs 9 trillion investment to meet a 458 GW peak demand by 2032. The plan includes expanding transmission networks to 0.65 million ckm, adding 33.25 GW HVDC systems, and boosting interregional transfer capacity. Renewable energy evacuation and pumped storage projects also receive major focus. Power Minister Launches CSIRT-Power to…

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National Electricity Plan – 2032 finalized, outlay pegged at over Rs 9 trillion

India, News

Union power minister Manohar Lal announced the finalization of the National Electricity Plan (NEP) for the period 2023 to 2032 at a press conference in New Delhi on September 23, 2024. The NEP aims to develop central and state transmission systems to meet the projected peak power demand of 458 GW by 2032, with a total project outlay of Rs 9 trillion. Key highlights of NEP 2032 include the expansion of the transmission network from…

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Power Grid wins Khavda transmission project amid competitive bidding

India, News

Power Grid Corporation of India Ltd (PGCIL) has secured the letter of intent (LoI) for the project, titled “Provision of Dynamic Reactive Compensation at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3),” in Gujarat through tariff-based competitive bidding, marking its fourth ISTS-TBCB win in September 2024.   The project involves the installation of STATCOMs at KPS1 and KPS3 to manage high voltage fluctuations caused by intermittent renewable energy in the region. The estimated…

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Solar91 Cleantech files for Rs 1 billion IPO on BSE SME platform

India, News

Solar91 Cleantech, a Jaipur-based solar energy solutions provider, has filed its preliminary papers for an initial public offering (IPO) on the BSE SME platform. The IPO consists of a fresh issue of 5.436 million shares at a face value of Rs 10 each, targeting to raise approximately Rs 1 billion through the book-building route. The proceeds will be used for project development as an independent power producer (IPP), along with meeting working capital needs and…

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PGCIL, Adani, Sterlite Power in race for Gujarat’s HVDC transmission project

India, News

Three players—Power Grid Corporation of India Ltd (PGCIL), Adani Energy Solutions Ltd (AESL), and Sterlite Power—have qualified to compete for a major interstate transmission system (ISTS) scheme in Gujarat, involving high-voltage direct current (HVDC) technology. The scheme is part of the Khavda V-A Power Transmission project, aimed at evacuating 8 GW of renewable energy from the Khavda region in Gujarat. Developer selection is being conducted through tariff-based competitive bidding (TBCB). The project is estimated to…

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PFC invites bids for 3 GW renewable energy transmission project in Gujarat

India, News

Power Finance Corporation (PFC), through its subsidiary PFC Consulting, has issued a tender for selecting a transmission service provider to establish an inter-state transmission system (ISTS) for evacuating 3 GW of renewable energy from Raghanesda, Gujarat under Phase I. The last date for bid submission is November 19, 2024. Bidders are required to submit an earnest money deposit of Rs 176 million, with the project expected to start commercial operations within 24 months. The 765/400…

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OECD net electricity production rises 5.4% in June 2024

Analysis, Data Insights, Global, News

According to the latest release from the International Energy Agency (IEA), total net electricity production in the Organisation for Economic Co-operation and Development (OECD) countries reached 902.8 TWh in June 2024, reflecting a 5.4% year-on-year (y-o-y) increase. On a year-to-date basis, electricity production in the first two quarters of 2024 rose by 2.9%. The OECD consists of 38 member countries, including major economies such as the United States, Japan, Germany, and Australia, working to promote…

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PGCIL dominates Rajasthan REZ Phase IV transmission system

India, News

Power Grid Corporation of India Ltd (PGCIL) is set to dominate the tariff-based competitive bidding (TBCB) components of the “Transmission System for Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/Barmer)” interstate transmission system (ISTS) scheme. This massive scheme, divided into nine components, includes seven TBCB-based sections and two non-TBCB components (Part G and Part H2). PGCIL has formally won four components—Part B, Part C, Part D, and Part E—and was recently declared the successful…

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PGCIL wins transmission project for renewable energy evacuation from Rajasthan REZ

India, News

Power Grid Corporation of India Ltd (PGCIL) has been declared the successful bidder for an interstate transmission system (ISTS) project to evacuate renewable energy from Rajasthan’s Renewable Energy Zone (REZ) Phase IV. PGCIL will establish the project under tariff-based competitive bidding (TBCB) on a build, own, operate, and transfer (BOOT) basis. The project, named “Transmission System for evacuation of power from Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/Barmer Complex): Part H1,” will involve…

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Consultant appointed for intrastate TBCB scheme in UT of J&K

India, News

PFC Consulting Ltd (PFCCL) has appointed New Delhi-based GIS Data Solutions as the technical consultant for an intrastate transmission system (InSTS) project in Jammu & Kashmir. The consultant will carry out land surveys and prepare the project report for the transmission network. The project, officially titled “Laying of downstream transmission network from upcoming 400/220kV grid substation Siot, Rajouri (ISTS) and construction of a 160MVA, 220/66/11kV grid station at Baghthali, Kathua along with LILO of 220kV…