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JSW Energy on Friday said its arm JSW Neo Energy has received a Letter of Award (LoA) from NTPC for setting up a 300 MW wind-solar hybrid power project. Following this capacity award, the company's total locked-in generation capacity has risen to 16.7 GW, which includes a total locked-in hybrid capacity of 2.6 GW, a company statement said. This project enhances the company's energy solution offerings and supports its transition towards becoming an energy products and services company, it said. JSW Energy has total locked-in generation capacity of 16.7 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal and hydro and RE pipeline of 6.9 GW. The firm also has 4.2 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy aims to achieve carbon neutrality by 2050. In a separate statement
State-owned power giant NTPC on Friday posted a 33 per cent rise in its consolidated net profit to Rs 6,490.05 crore in the March 2024 quarter, mainly on the back of higher revenues. The company had reported Rs 4,871.55 crore consolidated net profit in the quarter ended March 2023, a BSE filing said. Its total income rose to Rs 48,816.55 crore in the quarter from Rs 44,744.96 crore in the same period a year ago. The consolidated net profit in the fiscal 2023-24 increased to Rs 21,332.45 crore from Rs 17,121.35 crore in the year-ago period. In FY24, the total income rose to Rs 1,81,165.86 crore against Rs 1,77,976.39 crore a year ago. The company's board recommended a final dividend of Rs 3.25 per equity share for FY24. The final dividend is in addition to the first interim dividend at the rate of Rs 2.25 per share and the second interim dividend at the rate of Rs 2.25 per share of face value of Rs 10 each for 2023-24 paid in November and February, respectively. The company's boa
Prime Minister Narendra Modi on Monday dedicated to the nation and laid the foundation stone of multiple development projects related to power, rail and road sectors in Telangana worth more than Rs 56,000 crore. The PM's official function here was attended by the State Governor Tamilisai Soundararajan and Chief Minister A Revanth Reddy among others. After a long time, a CM of Telangana received PM Modi and shared dais with him during the official programme. BRS supremo and former CM K Chandrasekhar Rao had, on several occasions, skipped the PM's official visits to the state in the past. At the event here, the Prime Minister, among other projects, dedicated NTPC's 800 MW (Unit-2) of Telangana Super Thermal Power Project in Peddapalli. Based on ultra-supercritical technology, the project will supply 85 per cent power to Telangana and will have the highest power generation efficiency of approximately 42 per cent among all power stations of NTPC in the country. The foundation stone of
Prime Minister Narendra Modi will lay the foundation of state-owned power giant NTPC's various projects worth Rs 30,023 crore on Monday. The Prime Minister will dedicate to the nation and lay the foundation of a series of NTPC projects on March 4, 2024, signalling a significant leap towards sustainable development and economic growth, an NTPC statement said. Modi will dedicate Unit -2 (800 MW) of NTPC's Telangana Super Thermal Power Project (Stage-I) located in the Peddapalli district of Telangana. With an investment of Rs 8,007 crore, this project utilises ultra-supercritical technology, ensuring optimal power generation efficiency while significantly reducing CO2 emissions. The commissioning of this project will not only enhance the power supply in Telangana but also guarantee 24x7 availability of affordable and high-quality power nationwide. Furthermore, the Prime Minister will also dedicate Unit-2 (660 MW) of North Karanpura Super Thermal Power Project (3x600 MW), situated in
NTPC Green Energy Ltd (NGEL) on Tuesday said it has signed an MoU with the Maharashtra government to develop green hydrogen projects and its derivatives in Maharashtra. The memorandum of understanding (MoU) has been signed as a part of Green Investment Plan of the state government in the next five years and envisages a potential investment of Rs 80,000 crore, NGEL said in a statement. "NGEL has signed an MoU with Government of Maharashtra for development of green hydrogen and derivatives (green ammonia, green methanol) of up to 1 million tonne capacity per annum, including pump hydro projects of 2 GW and development of RE projects with or without storage up to 5 GW in the state," it said. The MoU was exchanged between Mohit Bhargava, Chief Executive Officer, NGEL and Narayan Karad, Deputy Secretary (Energy), Maharashtra government in the presence of state chief minister, deputy CM and other senior officials in Mumbai on Monday, the company said. NGEL is a wholly-owned subsidiary of