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HPL Electric secures Rs 1.44 billion order for smart and conventional meters
HPL Electric & Power has won an order worth Rs 1.44 billion for the supply of smart and conventional meters. The company, a leading manufacturer of electrical equipment, will execute the order as per the terms of the letter of award (LoA). HPL operates across five key product areas: metering solutions, modular switches, switchgear, LED lighting, and wires and cables. It holds a strong position in the on-load change-over switches market and domestic electric meters,…
Global offshore wind sector resilient, poised for growth
Despite inflation and supply chain disruptions, the global offshore wind sector grew by 7% in 2023, with a projected 9% increase to over 11 GW by the end of 2024. Rystad Energy forecasts that global offshore wind installations, excluding mainland China, will exceed 520 GW by 2040. Europe will lead, especially in floating wind technology, accounting for over 70% of global floating installations. The UK, France, and Portugal are expected to add up to 90…
Alight secures €110m financing for 220 MW solar parks in Sweden
Swedish solar independent power producer Alight has secured €110 million in senior debt financing from Dutch bank Rabobank to develop, own, and operate 220 MW of small to medium-sized solar parks across Sweden. This portfolio financing, a first-of-its-kind in the Nordic region, will accelerate the renewable energy transition as Sweden faces rising electricity demand. The first phase includes constructing three solar parks: a 4MW park in Halland, a 6 MW park in Södermanland, and a…
Qair acquires majority stake in Green Switch Capital to expand UK renewable energy presence
European renewable energy company Qair has acquired a majority stake in UK-based Green Switch Capital (GSC), a developer specializing in offshore wind, solar, and storage projects. This strategic acquisition aims to bolster Qair’s renewable energy footprint in the UK and position it as a significant player in the nation’s renewable sector. GSC’s development pipeline exceeds 15 GW, with half of the projects already having grid offers, land leases, and connections. The first project is expected…
Energiekontor secures permits for 116 MW wind park projects in Germany
German solar and wind park developer Energiekontor has obtained building permits for three wind park projects in Lower Saxony, Germany, with a combined generation capacity of approximately 116MW. Construction on these projects is set to begin shortly and they are expected to participate in the upcoming EEG (Renewable Energy Sources Act) tender by the Federal Network Agency in November 2024. In addition to these new projects, Energiekontor is preparing for the financial close of several…
Adani Energy adds 2,000 ckm to transmission portfolio
Adani Energy Solutions Ltd (AESL) has added over 2,000 circuit kilometers (ckm) to its under-construction power transmission portfolio with three new project wins in Q2 FY25. These projects, totalling 2,059 ckm of transmission lines and 13,500 MVA of substation capacity, bring AESL’s total under-construction portfolio to 5,155 ckm of lines and 35,071 MVA. All three projects are part of interstate transmission system (ISTS) schemes awarded under the tariff-based competitive bidding (TBCB) route, with a combined…