Search Results for: REC

The Ministry of Environment, Forest and Climate Change (MoEFCC) has granted Stage-II clearance under the Forest Conservation Act (FCA) to the Shongtong Hydro Electric Project in Himachal Pradesh’s Kinnaur district. The approval, pending since 2018, was essential for using approximately 17 acres of land for the 450 MW Shongtong Karchham Hydro Electric Project. The Stage-I clearance was initially granted on March 19, 2024. Following this, the state government submitted a compliance report and requested final…

Premier Energies Limited, along with three other companies, has received approval from the Securities and Exchange Board of India (Sebi) to raise funds through Initial Public Offerings (IPOs), according to a recent update from the markets regulator. Premier Energies, a prominent solar cell company, plans to raise Rs 15 billion through its IPO. This offering includes a fresh issue of equity shares worth Rs 11.68 billion and an Offer For Sale (OFS) of up to…

India recorded its highest-ever coal production in FY24, reaching 997.828 million tonnes, an 11.71 per cent increase from FY23. In Q1 FY25, India produced 247.396 million tonnes of coal, a 10.75 per cent increase from 223.376 million tonnes in the same period last year. Several initiatives contributed to this growth. The Single Window Clearance portal expedited the operationalization of coal mines. Captive coal mines were permitted to sell up to 50 per cent of their…

The Central Electricity Authority (CEA) has recommended a coal and lignite-based installed capacity of 283 GW, up from the current 217.5 GW. Consequently, the Ministry of Power (MoP) is planning to establish an additional minimum of 80 GW of coal-based capacity by 2031-32. This expansion is expected to entail an expenditure of at least Rs. 6,672 billion by 2031-32. According to Intended Nationally Determined Contributions (INDCs), the country is committed to achieving approximately 50 per…

In its latest meeting, the National Committee on Transmission (NCT) recommended interstate transmission system (ISTS) schemes worth over Rs 220 billion to the Union power ministry for final clearance. A total of ten ISTS schemes, costing Rs 227.3 billion, were discussed. Of these, seven schemes (costing Rs 93.99 billion) will follow the tariff-based competitive bidding (TBCB) mode, while three schemes (costing INR 133.38 billion) will use the regulated tariff mechanism (RTM). TBCB Schemes Each of…

REC Limited’s market capitalization surged by 219 per cent in the first quarter, reaching Rs 600 billion. Additionally, REC’s net profit saw an increase of Rs 3.44 billion, resulting in a total profit of Rs 32.23 billion for the quarter. This performance is attributed to higher income from operations, reduced finance costs, and improved asset quality. REC’s income from operations rose to Rs 100.71 billion, an 11 per cent increase compared to the previous year….