Similar Posts
Himachal Pradesh to develop pumped storage projects, approves first two schemes
The Himachal Pradesh government has initiated pumped storage projects (PSPs) with the approval of two key projects: the 1,630 MW Renukaji pump storage project in Sirmaur district and the 270 MW Thana Plaun pump storage project in the Beas Basin, Mandi district. Chief Minister Sukhvinder Singh Sukhu confirmed the projects have been allotted to Himachal Pradesh Power Corporation (HPPCL), with work already underway. The Renukaji project will generate 40 MW, and the Thana Plaun hydropower…
AESL incorporates subsidiary to explore international transmission projects
Adani Energy Solutions Limited (AESL) has established a wholly owned subsidiary, Adani Energy Solutions Global Limited (AESGL), with an initial share capital of USD 27,000, divided into 27,000 shares at USD 1 per share. AESL holds 100% ownership of AESGL, which aims to explore new business opportunities in transmission projects outside India.
Purvah Green Power incorporates subsidiary for renewable power projects
Purvah Green Power Private Limited, a subsidiary of CESC Limited, has established a wholly-owned subsidiary, Redgaint Renewable Power Energy Private Limited (RRPEPL). With a subscribed and paid-up capital of Rs 100,000, RRPEPL will explore new opportunities in the renewable energy sector, furthering CESC’s commitment to expanding its presence in sustainable power generation.
Indian Railways eyes nuclear power to boost renewable energy usage
Indian Railways is considering using nuclear power through captive units as part of its strategy to increase reliance on non-fossil fuel sources. Aiming to become a net-zero carbon emitter by 2030, the Railways expects to need 30,000 MW of renewable capacity by 2029-30 to achieve this target. Alongside nuclear power, Indian Railways is already working on commissioning solar power units, wind-based power plants, and exploring hydel power options. In each of these areas, the Railways…
Iberdrola to acquire remaining 18% stake in Avangrid for $2.55bn
Spanish utility Iberdrola has announced that Avangrid shareholders have approved its $2.55 billion proposal to acquire the remaining 18% stake in the company. Shareholders will receive $35.75 per share, representing a 15.2% premium over the 30-day weighted average price before the acquisition’s March announcement. The acquisition will enhance Avangrid’s ability to secure financial resources needed for investments in transmission and distribution networks in states like New York, Connecticut, Maine, and Massachusetts. Following regulatory clearances, Avangrid…
Companies’ addiction to junk carbon offsets is killing the planet
A new study from Kyoto University highlights significant issues in the carbon offset market, pointing to major companies such as Shell, Delta Air Lines, and Chevron, which have been purchasing low-quality offsets. From 2020 to 2023, the 20 largest players in the market, including these companies, primarily bought offsets that have a high risk of not delivering real emissions reductions, with 87% of their purchases deemed ineffective. This revelation follows the broader scrutiny of the…