Ministry Of Power

As revenue secretary, Malhotra took key decisions, including rationalisation of capital gains tax

The Ministry of New and Renewable Energy (MNRE), in collaboration with the Ministry of Power, has decided to set up a centre of excellence (CoE) to carry out research and development for indigenous manufacturing of various components required to generate green energy. Union Minister for New and Renewable Energy Pralhad Joshi said at a press conference after addressing the 'Chintan Shivir' organised here to develop strategies for achieving India's ambitious target of 500 gigawatts (GW) of renewable energy capacity in the next 6 years by 2030. The two-day meeting concluded on Friday. More than 200 parts or components (over 50 per cent of total parts) required to develop electrolysers are being imported from other countries, Joshi said. "So, a centre of excellence (CoE) will be established to carry out joint research and development for indigenous manufacturing of such components," he said. Electrolysers, which use electricity to split water into hydrogen and oxygen, are a critical .

The energy rating of any appliance measures between one to five, with five being the most energy-efficient level. This impacts the final value of the product as energy-efficient products are costlier

The Damodar Valley Corporation (DVC), the first multipurpose river valley project of independent India, will be corporatised, unbundling into at least three entities for transmission, generation, and distribution to achieve greater efficiency, an official said on Wednesday. Praising the corporation, Union Power Minister Manohar Lal asked it to expedite the unbundling exercise during a review meeting at the DVC headquarters here during the day. He also suggested the board explore the IPO route to raise resources for its expansion plans. DVC functions under the Centre's Ministry of Power. Established in 1948, the DVC is an integrated power major spread across a command area of 24,235 sq km in West Bengal and Jharkhand. "The plan for corporatisation was on the agenda, but the minister wanted to expedite the process. The existing shareholding among the Centre, West Bengal, and Jharkhand governments will remain intact," DVC Chairman S Suresh Kumar told PTI after the review meeting. Th

State-owned REC Ltd on Tuesday posted a 33 per cent rise in its consolidated net profit to Rs 4,079.09 crore during the March quarter on account of higher income. The company had clocked a net profit of Rs 3,065.37 crore during the January-March quarter preceding FY 2022-23, REC said in a regulatory filing. The company's total income during the fourth quarter rose to Rs 12,706.66 crore from Rs 10,254.63 crore in the year-ago period. Total expenses were Rs 7,477.18 crore in the March quarter as against Rs 6,353.40 crore. For the entire FY24, the company's net profit was Rs 14,145.46 crore, up from Rs 11,166.98 crore in FY23. The income also rose to Rs 47,571.23 crore in FY24 compared to Rs 39,520.16 crore a year earlier. REC Ltd, under the Ministry of Power, is a non-banking finance company focusing on power sector financing and development across India.

State-owned PFC on Wednesday said it has paid a total dividend of Rs 2,033 crore to the government for the financial year 2023-24. The company has paid the dividend in three instalments of Rs 554 crore, Rs 832 crore and Rs 647 crore, it said in a statement. "PFC pays the highest-ever interim dividend of Rs 2,033 crore to the Government of India for the FY24. The interim dividend RTGS (Real Time Gross Settlement) intimation advice was presented to RK Singh, Minister Power, New & Renewable Energy...by CMD Parminder Chopra," it noted. PFC has so far paid interim dividend amounting to Rs 3,630 crore to its shareholders for the financial year 2023-24, the highest-ever interim dividend paid by the company, the statement said. Power Finance Corporation (PFC) is a leading non-banking financial corporation under the Ministry of Power.

State-owned NHPC on Monday posted a 19 per cent fall in its consolidated net profit to Rs 628.44 crore for the October-December quarter of 2023-24 due to higher expenses. The hydro-power producer had reported a net profit of Rs 775.99 crore in the October-December period of 2022-23, the company said in an exchange filing. The company's total income also fell to Rs 2,549.69 crore in the quarter from Rs 2,691.34 crore a year ago. Expenses rose to Rs 1,727.85 crore in the quarter under review from Rs 1,303.06 crore in the third quarter of the last fiscal. The board of the company approved an interim dividend of Rs 1.40 per equity share for the financial year 2023-24. It fixed February 22 as record date for the purpose of ascertaining eligibility of shareholders for payment of interim dividend. NHPC, under the Ministry of Power, is the largest hydropower development organization in India, with capabilities to undertake all the activities from conceptualization to commissioning of hydr

State-owned Energy Efficiency Services Ltd (EESL) has inked initial pacts worth Rs 500 crore with key state bodies and industry partners at the India Energy Week, to formulate a framework for longstanding collaboration in key areas of energy efficiency. Ladakh Autonomous Hill Development Council, Leh (LAHDC), and Vidhya Pratishthan have partnered with EESL, the company said in a statement on Friday. The MoUs with the two entities, valued at Rs 300 crore and Rs 200 crore, respectively, focus on crucial aspects of energy efficiency, including lighting, clean cooking, space heating, renewables, e-mobility, cooling, and consultancy. According to the statement, the EESL, a joint venture of public sector undertaking under the Ministry of Power, has signed Memoranda of Understanding (MoUs) worth Rs 500 crore with key state bodies and industry partners at the India Energy Week 2024. The focus of the MoUs signed during the event is to formulate a framework for longstanding collaboration in

REC will be financing diverse projects including logistics hubs, rail, road, port, and metro over the next 5 years

Implementation of storage for India's green transition clearly emerges as the new challenge for the renewables vision

State-owned REC Ltd on Thursday said its board has approved a proposal to increase borrowing to Rs 1.5 lakh crore from Rs 1.2 lakh crore for 2023-24. The Board of Directors of REC Ltd, in its meeting held on November 30, 2023, approved revision in its market borrowing programme under different debt segments with interchangeability among various instruments, including bonds/debentures, term loans, external commercial borrowing, commercial papers etc. on private/public placement basis from Rs 1,20,000 crore to Rs 1,50,000 crore for 2023-24, the company said in a regulatory filing. The funds under the said revised market borrowing programme will be raised, from time to time, during the financial year 2023-24, with the approval of competent authority as per powers delegated in this regard by the Board of Directors, it added. The board also approved the proposal of equity investment in Hindustan Power Exchange Ltd (HPX) for an amount up to Rs 14.25 crore (i.e. up to 19 per cent of the ..

Waaree Energies Ltd on Wednesday said it has partnered with NTPC to supply over 135 MW of solar PV modules. The photovoltaic modules will be utilized by NTPC for a solar power project in Baran district of Rajasthan. The order is expected to be completed within a span of 4 months, Waaree Energies said in a statement. "Such projects provide us with a splendid opportunity to further that objective, through the provision of our state-of-the-art solar PV modules, Hitesh Doshi, Chairman & Managing Director, Waaree Group said. With a capacity of 12 GW, Waaree Energies is India's largest solar module manufacturer. The company has presence in multiple locations in India and worldwide. NTPC, under Ministry of Power, is India's largest power generating entity.

India has set up an inter-ministerial group to develop a "well thought-out view" on important matters to be discussed during global climate negotiations, according to sources. Constituted in August, the inter-ministerial group on climate change comprises members from all the ministries and departments concerned, including the Ministry of Environment, Forests and Climate Change, Ministry of Power, Ministry of New and Renewable Energy, and the Department of Economic Affairs, a source told PTI. The group will hold discussions mainly on five issues -- mitigation, adaptation, loss and damage, climate finance and Article 6 of the Paris Agreement. Five sub-groups, one for each topic, have been formed to hold detailed discussions. Each sub-group has five to six officials at the joint secretary level, the sources said. Mitigation means reducing greenhouse gas (GHG) emissions and adaptation refers to the process of adjusting to the effects of climate change. Loss and damage refer to the imp

The way forward to meet the nationally determined contributions is a well-regulated domestic emission trading mechanism

Bureau of Energy Efficiency suggests giving refineries three years to meet green hydrogen obligations

The Delhi government's vigilance directorate has written to the Appellate Tribunal for Electricity (APTEL), recommending action against three former and a sitting DERC official in connection with the appointment of Ashok Kumar Singhal as the principal advisor (tariff) to the power regulator. There was no immediate reaction from the Delhi Electricity Regulatory Commission (DERC) on the issue. Singhal termed the whole matter "pointless". "There is no issue in it. My appointment was done in a proper manner," he told PTI. The directorate, in a communication dated June 27, said the matter of appointment of DERC member Singhal as the principal advisor (tariff) was examined by it. "It emerges that the DERC has not examined the issue legally and has been totally biased in selecting Ashok Kumar Singhal as the principal advisor (tariff) after he demitted the office of member DERC," it said. The directorate further said the DERC has "violated" section 89(5) of the Electricity Act, 2003, as

The Ministry of Finance has granted permission to 12 state governments to raise financial resources of Rs 66,413 crore through borrowing permissions

The power ministry said the project is being executed to meet the increasing peak-hour demand for energy in Madhya Pradesh

The MoU sets the stage for the establishment of four pumped storage projects, which will have a combined capacity of 7,350 MW

The government plans to come up with aggregation models for electric cooking through which prices can be brought down