Author: PPD Team Date: 17/12/2024
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Salzer Electronics delivers first smart meter order
Author: PPD Team Date: 13/02/2025 Salzer Electronics Ltd, a new player in the smart meter manufacturing industry, has successfully delivered its first commercial order of 25,000 smart meters, valued at approximately Rs 50 million, during the third quarter (Q3: October to December) of FY25. The company is optimistic about receiving further orders from the same client. Rajesh Doraiswamy, Joint Managing Director of Salzer Electronics, expressed pride in the achievement, stating that the dispatch of the…
Powergrid acquires equity stake in Cross Border Power Transmission Company
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Gensol Engineering to raise Rs 6 billion, aims for zero net-debt
Author: PPD Team Date: 17/03/2025 Gensol Engineering Limited has approved fundraising of up to Rs 6 billion to strengthen its balance sheet and move towards a zero net-debt position. The company plans to raise Rs 4 billion through foreign currency convertible bonds (FCCBs) and Rs 2 billion via warrants issued to promoters. Alongside the fundraise, Gensol is divesting assets, including vehicle sales and the sale of a subsidiary, to further enhance financial stability. The company…
ABO Energy sells South African BESS projects to EDF
Author: PPD Team Date: 02/12/2024 ABO Energy has sold the rights to two battery energy storage systems (BESS) in South Africa to French utility Électricité de France (EDF) after advancing them to ready-to-build status. EDF secured preferred bidder status for both projects on November 30, 2023, under South Africa’s first Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP). The projects, located in the Northern Cape and North West provinces near Aggeneys and Vryburg, are…
Adani Power denies Bangladesh plans to renegotiate power deal amid disputes
Author: PPD Team Date: 02/12/2024 According to a Reuters report, Adani Power stated that it has no indication the Bangladesh government plans to review its 25-year power purchase agreement (PPA) with the company. This follows earlier claims that Bangladesh is seeking to renegotiate terms to lower electricity prices or cancel the deal through legal means. The PPA, signed in 2017, involves Adani Power supplying electricity from a $2 billion coal-fired plant in eastern India. The…
Seaway7 to provide ScottishPower’s East Anglia offshore cables
Author: PPD Team Date: 08/11/2024 ScottishPower Renewables has awarded Seaway7 a contract for the transport and installation of inter-array cables for the 960 MW East Anglia TWO offshore wind project, located 33 km off England’s east coast in the North Sea. The contract involves the engineering, supply, and installation of 64 inter-array cables, with project execution managed from Seaway7’s Aberdeen office. Offshore operations are scheduled to commence in 2027. Awarded in the UK government’s Contracts…
Salzer Electronics delivers first smart meter order
Author: PPD Team Date: 13/02/2025 Salzer Electronics Ltd, a new player in the smart meter manufacturing industry, has successfully delivered its first commercial order of 25,000 smart meters, valued at approximately Rs 50 million, during the third quarter (Q3: October to December) of FY25. The company is optimistic about receiving further orders from the same client. Rajesh Doraiswamy, Joint Managing Director of Salzer Electronics, expressed pride in the achievement, stating that the dispatch of the…
Powergrid acquires equity stake in Cross Border Power Transmission Company
Author: PPD Team Date: 21/01/2025 Power Grid Corporation of India Limited (PGCIL) has completed the acquisition of 7,730,225 equity shares of IL&FS Energy Development Company Limited (IEDCL) in Cross Border Power Transmission Company Limited (CPTCL). This follows an arrangement where IEDCL, a shareholder in CPTCL, divested its entire equity stake as part of the resolution framework approved by the National Company Law Tribunal. CPTCL is a joint venture focused on implementing the Indian portion of…