Power Finance Corporation Limited (PFC) reported a net profit of Rs 72.15 billion for the quarter ending September 2024, an 8.86 per cent increase from Rs 66.28 billion in the same quarter last year.
The company’s total income also rose by 15.04 per cent, reaching Rs 257.55 billion compared to Rs 223.87 billion in the previous year’s corresponding period.
The Indian government has approved a joint venture (JV) between the Nuclear Power Corporation of India (NPCIL) and National Thermal Power Corporation (NTPC) to develop four 700 MWe nuclear power plants at Mahi Banswara in Rajasthan. The JV, named Anushakti Vidyut Nigam (ASHVINI), has been authorized to build, own, and operate nuclear power plants in India. ASHVINI, a subsidiary of NPCIL with a 51% stake, will implement the 4×700 MW Pressurised Heavy Water Reactors (PHWR)…
Premier Energies International and Premier Energies Photovoltaic, subsidiaries of Premier Energies, have received and accepted multiple orders totalling Rs 5.6 billion. Two large independent power producers (IPPs) and others have awarded the contracts. These orders comprise Rs 5.13 billion for solar modules and Rs 470 million for solar cells. The supply of these modules will commence in December 2024 and is expected to conclude by May 2025.
Grid operator Enagas has received provisional approval from the Spanish Government to develop the Spanish section of the trans-European H2med hydrogen pipeline and related infrastructure projects. The H2med project, in collaboration with Spain, France, Germany, and Portugal, includes interconnections, an underwater pipeline between Spain and France, and hydrogen storage facilities. Enagas will work with operators GRTgaz, Terega, OGE, and REN. The total cost of Spain’s hydrogen portfolio is expected to be EUR 4.9 billion, with…
Monarch Private Capital and Invenergy have secured nearly $170 million in tax equity financing for the 200 MW Samson Solar Energy Center II in Lamar County, Texas. Developed by Invenergy, the project will contribute over $27 million in taxes and funding to local schools and the county throughout its lifespan. The solar facility is expected to begin operations later in 2024 and is part of Invenergy’s larger 1,310 MW Samson Solar Energy Center, the largest…
Techno Electric & Engineering Company Limited (TEECL) has secured its second interstate transmission system (ISTS) project under the tariff-based competitive bidding (TBCB) method. The project, named “North Eastern Region Generation Scheme – I” (NERGS-I), is to be established in Assam with an estimated cost of Rs 2.14 billion. The project includes constructing a new 400kV switching station at Bokajan, which will later upgrade to a 400/220kV level. Additionally, the project entails a loop-in loop-out of…
GE Vernova has announced a major expansion of its manufacturing facilities in Stafford, UK, to meet growing global demand for high-voltage direct current (HVDC) transmission systems, essential for transmitting renewable energy across Europe, Asia, and North America. The expansion focuses on two key Stafford sites within GE Vernova’s electrification systems grid solutions business. The HVDC facility at Redhill will double its valve manufacturing capacity, adding a new voltage-sourced converter valve assembly line. The transformer facility,…
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