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US BOEM delays Oregon offshore wind auction

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The US Bureau of Ocean Energy Management (BOEM) has postponed its planned auction for offshore wind energy leases off the coast of Oregon, citing insufficient interest from bidders. Initially scheduled for 15 October 2024, only one company expressed interest after the Final Sale Notice was issued in August. The auction featured two lease areas and five qualifying companies.

Despite this setback, the Biden-Harris Administration has approved 10 commercial-scale offshore wind projects since 2021, aiming to generate 15 GW of clean energy. BOEM remains committed to collaborating with stakeholders to explore future leasing opportunities.

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Torrent Power challenges approval of Sarda Energy’s bid for SKS Power Generation at NCLAT

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Torrent Power has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) against the approval of Sarda Energy and Mining’s (SEML) resolution plan for the debt-ridden SKS Power Generation. The appeal follows the Mumbai-based National Company Law Tribunal’s (NCLT) decision on August 13, which approved SEML’s bid and dismissed Torrent Power’s application to acquire SKS Power Generation in Chhattisgarh. Torrent Power objected to the selection process, arguing it was discriminatory and claiming that…

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Waaree Renewable posts robust Q2 growth with Rs 5,244.7 million revenue

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Waaree Renewable Technologies Limited (WRTL), the solar EPC arm of Waaree Group, reported Q2 FY25 revenue of Rs 5,244.7 million, a 249.50% increase from Rs 1,500.6 million in Q2 FY24. Profit after tax (PAT) stood at Rs 535.2 million, while its unexecuted order book remains at 1.7 GWp with a 9-12 month timeline. For H1 FY25, revenue reached Rs 7,608.2 million, up 172.70% year-on-year, with an EBITDA of Rs 1,126.5 million, marking a 155.56% increase….

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Fourth Partner Energy secures $275 million for expansion

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Fourth Partner Energy Ltd (FPEL) has raised $275 million from the International Financial Corporation (IFC), Asian Development Bank (ADB), and German Investment Corporation (DEG) to support its goal of 3.5 GW renewable energy capacity by 2026. The funding breakdown includes $125 million from IFC, $100 million from ADB, and $50 million from DEG. This investment will bolster FPEL’s current 1.5 GW portfolio and help commission a 575 MW wind-solar hybrid project in Karnataka later this…

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STMicroelectronics signs PPA with BKH Solar for Malaysian operations

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STMicroelectronics has signed a 21-year power purchase agreement with BKH Solar, a joint venture between ENGIE Renewable SEA Pte Ltd and Conextone Energy Sdn Bhd, to procure around 50 GWh of renewable energy annually from a solar farm in Bukit Kayu Hitam, Kedah, Malaysia.  This agreement, under Malaysia’s Corporate Green Power Program, supports ST’s 2027 targets for carbon neutrality and full renewable energy sourcing across its operations, including its high-volume test and assembly facility in…

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Adani Power faces $800 million in unpaid dues from Bangladesh amid political turmoil

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Billionaire Gautam Adani’s power unit, Adani Power Ltd., is owed as much as $800 million by Bangladesh for electricity supplied from its coal-fired plant in the Godda district of Jharkhand, India. The dues come as Bangladesh faces economic challenges, including weeks of violent protests that led to the ousting of the previous administration. Bangladesh Bank’s newly-appointed Governor, Ahsan H. Mansur, told Bloomberg that failure to pay could result in a halt of electricity supply, although…

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CG Power acquires Renesas’ radio frequency components business

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CG Power and Industrial Solutions (CG), part of the Murugappa Group, has acquired the radio frequency (RF) components business of Renesas Electronics Corporation for USD 36 million. The asset purchase agreement, signed on October 4, 2024, involves CG acquiring intellectual property (IP), tangible assets, and select employees from Renesas Electronics America and its affiliated entities. This acquisition strengthens India’s presence in the semiconductor design and development sector, a high-growth area. 

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