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Page 10 - Energy Sector

India's green hydrogen sector will need $4-12 billion support: A&M report

The firm said estimated support is driven by the need to level playing field against global suppliers who enjoy government subsidies and to enable domestic end-use sectors to transition affordably

India's green hydrogen sector will need $4-12 billion support: A&M report
Updated On : 29 Feb 2024 | 7:11 PM IST

Adani Energy Solutions aims to raise about $400 mn via oversees bonds

The group's ability to raise funds offshore has been under close scrutiny since the 2023 crisis triggered by shortseller Hindenburg Research's allegations of malfeasance

Adani Energy Solutions aims to raise about $400 mn via oversees bonds
Updated On : 29 Feb 2024 | 7:10 PM IST

Nifty Auto index seen in downtrend, Energy range-bound; suggest charts

According to Ravi Nathani, an independent technical analyst, the Nifty Auto index can dip to 20,200 and 19,850 levels in the near term.

Nifty Auto index seen in downtrend, Energy range-bound; suggest charts
Updated On : 29 Feb 2024 | 6:32 AM IST

Coal sector contributes Rs 70,000 cr every yr to Centre, states: Govt

The coal sector contributes over Rs 70,000 crore every year to the Centre and states, through GST, royalties and other levies, the government said on Monday. These funds play a significant role in the socio-economic development and infrastructure enhancement in those coal-bearing areas, the coal ministry said in a statement. "The coal sector contributes over Rs 70,000 crore annually to the Centre and state governments through royalties, GST, and other levies," the statement said. "Coal production generates substantial revenue for both Centre and state governments, with royalty collections reaching Rs 23,184.86 crore in the fiscal year 2022-23," the statement said. Coal is the single-largest contributor to railway freight, with an average share of nearly 49 per cent of the total freight income amounting to Rs 82,275 crore in 2022-23 alone. This revenue contribution has surpassed 33 per cent of total railway earnings.

Coal sector contributes Rs 70,000 cr every yr to Centre, states: Govt
Updated On : 26 Feb 2024 | 10:00 PM IST

Coal import for blending drops 37% to 19.36 million tonne in Apr-Jan period

The import of coal for blending purposes dropped 36.69 per cent to 19.36 Million Tonnes (MT) in the April-January period of the current fiscal, an official statement said on Monday. The country's coal import for blending was 30.58 MT in the corresponding period of the previous financial year. "Despite the surging power demand, coal import for blending witnessed a significant decrease of 36.69 per cent... This exemplifies the nation's steadfast commitment to achieving self-reliance in coal production and minimising overall coal imports," the coal ministry said in a statement. The country's power generation grew 6.6 per cent in the April-January period over the year-ago period, the statement said. Coal remains the predominant source and contributes over 70 per cent to the total power generation. Coal-based power generation has been important in meeting the rising energy demands. Currently, the country is experiencing a substantial rise in power requirements on account of industrial

Coal import for blending drops 37% to 19.36 million tonne in Apr-Jan period
Updated On : 26 Feb 2024 | 9:58 PM IST

NTPC crosses 100 million tonne coal production mark from captive mines

State-owned NTPC on Monday said it has crossed 100 million tonne (MT) coal production mark from its captive mines. The milestone was achieved on February 25, 2024, NTPC said in a statement. "Coal mining subsidiary NTPC Mining Ltd (NML) has produced 100.04 MMT (Million Metric Tonne) of coal since coal production started in its first coal mine Pakri Barwadih on January 1, 2017," the company said. While the first 50 MT coal production was achieved in 1,995 days on June 19, 2022, the next 50 MT coal production was achieved in 617 days only, NTPC said. The coal production from its captive mines contributes to NTPC's fuel security and ensuring efficient supply, it said. NTPC Mining Ltd has five operational captive coal mines namely Pakri Barwadih, Chatti Bariatu and Kerandari Coal Mines in Jharkhand, Dulanga Coal Mine in Odisha and Talaipalli Coal Mine in Chhattisgarh. NML is targeting 100 MT coal production per annum by 2030. NTPC, under Ministry of Power, is the country's largest po

NTPC crosses 100 million tonne coal production mark from captive mines
Updated On : 26 Feb 2024 | 8:02 PM IST

SBL Energy raises Rs 325 crore equity funding from Synergy Capital, others

Raipur-based SBL Energy -- a mining/industrial explosives manufacturer -- on Monday said it has raised Rs 325 crore of growth capital from Synergy Capital, India SME Investments and a few others. The company said it will deploy the funds to expand its manufacturing capacity and launch new products. Another investor is equity market player Mukul Agrawal, the statement said, without giving a break-up of how much each of these investors chipped in with. SBL Energy -- the second largest industrial explosives manufactures in the country -- has been in operation for almost three decades and commands around 10 per cent market share, it said in a statement. While SBL caters to the mining and infrastructure sectors, it is also making inroads into the defence sector now, Sanjay Choudhari, a director at SBL, said.

SBL Energy raises Rs 325 crore equity funding from Synergy Capital, others
Updated On : 26 Feb 2024 | 4:39 PM IST

J&K to be north's power hub after hydro projects completion: Jitendra Singh

Union Minister Jitendra Singh on Saturday said the Kishtwar district of Jammu and Kashmir is all set to emerge as north India's major "power hub after the completion of ongoing power projects with a total capacity of 6,000 MW. The Minister of State in the Prime Minister's office visited the 120-MW Seva-II hydropower project located on Himachal-J&K border near Bani in Kathua district, a part of his Udhampur parliamentary constituency. Reviewing the status of hydropower projects with NHPC, Director (Finance) R P Goyal and other officials, the minister said at least seven major Hydro power projects have come in the region in a short span ever since Narendra Modi took over as Prime Minister in 2014. Talking about the ongoing power projects in Kishtwar, he said the largest capacity project is Pakal Dul with a capacity of 1,000 MW which is expected to be completed by 2025 at an estimated cost of over Rs 8,000 crore. Another major project is Kiru Hydroelectric project with a capacity of .

J&K to be north's power hub after hydro projects completion: Jitendra Singh
Updated On : 24 Feb 2024 | 10:27 PM IST

Private capital yet to embrace energy transition, says CEA Nageswaran

While urging multilateral development banks to act on the recommendations of the independent expert group under India's Group of Twenty (G20) presidency to mobilise private capital, the CEA added

Private capital yet to embrace energy transition, says CEA Nageswaran
Updated On : 22 Feb 2024 | 11:11 PM IST

RIL, Tata Power among firms in fray for $26-billion nuclear investment

This is the first time New Delhi is pursuing private investment in nuclear power, a non-carbon-emitting energy source that contributes less than 2% of India's total electricity generation

RIL, Tata Power among firms in fray for $26-billion nuclear investment
Updated On : 20 Feb 2024 | 11:44 PM IST

Cairn to double annual capital expenditure to $1 billion for 5 years

The oil and gas major plans to kick-start 12 projects in the country in FY25

Cairn to double annual capital expenditure to $1 billion for 5 years
Updated On : 20 Feb 2024 | 11:37 PM IST

Govt asks industry players to invest in technology towards greener future

The government on Friday stressed on the importance of coal and lignite gasification projects in India's energy transition and urged industry players to invest in the technology towards a greener and cleaner future. Coal Secretary Amrit Lal Meena also stressed on the government's support to the industry through initiatives, including financing and incentives, for promotion of clean coal technologies, the coal ministry said in a statement. The secretary requested all the industry stakeholders to come forward and participate in the RFP process and share their valuable inputs, to make the process transparent and open, it added. Through strategic initiatives and policy frameworks, the Ministry of Coal aims to catalyze investments and technological advancements in coal/gasification projects, aligning with India's vision for a cleaner and energy-efficient future. Coal India Chairman PM Prasad elaborated on CIL's proactive initiatives and endeavours in the realm of gasification and ...

Govt asks industry players to invest in technology towards greener future
Updated On : 16 Feb 2024 | 8:18 PM IST

RECPDCL hands over Pachora Power Transmission SPV to GR Infraprojects

State-owned REC on Thursday said its arm RECPDCL has handed over Pachora Power Transmission SPV to GR Infraprojects. The SPV was formed for the establishment of the Interstate Transmission Project for evacuation of power from renewable energy (RE) projects in Rajgarh (1,000 MW) SEZ in Madhya Pradesh-phase II through a tariff-based competitive bidding process, REC said in a statement. The special purpose vehicle (SPV) Pachora Power Transmission was handed over to the successful bidder GR Infraprojects in the presence of senior officials from RECPDCL. Additionally, representatives from the Central Transmission Utility of India Limited (CTUIL) and other key stakeholders attended the event, it said. RECPDCL, a wholly-owned subsidiary of REC Limited, has been acting as bid process coordinator (BPC) for tariff-based competitive bidding (TBCB) in transmission line projects and RE-bundling projects. Under the Ministry of Power, REC Limited is a non-banking finance company (NBFC), and ...

RECPDCL hands over Pachora Power Transmission SPV to GR Infraprojects
Updated On : 15 Feb 2024 | 8:57 PM IST

Crude oil prices decline as IEA flags slower demand growth this year

Brent crude futures fell 37 cents, or 0.5%, to $81.23 a barrel by 1008 GMT. U.S. West Texas Intermediate crude futures declined 44 cents, or 0.6%, to $76.20

Crude oil prices decline as IEA flags slower demand growth this year
Updated On : 15 Feb 2024 | 4:46 PM IST

REC, Damodar Valley inks pacts worth Rs 588 cr to develop tubed coal mines

State-owned REC signed agreements to provide Rs 588 crore finance facilities to Damodar Valley Corporation for development of tubed coal mines in the Damodar Valley region. "REC Ltd has signed agreements worth Rs 588 crore with the Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the Damodar Valley region," a power ministry statement said. According to the statement, the agreements aim to strengthen the cooperation between REC and DVC for the development of tubed coal mines, and include a term loan agreement, an escrow agreement, and hypothecation deeds. The agreement was signed by Senior Chief Project Manager, REC Regional Office, Kolkata, Santosh Kumar Sahu, and Senior General Manager (Finance), DVC, Durgesh Maity. The agreements signed underscore the collaborative efforts of both organisations in promoting sustainable development and leveraging resources for the greater benefit of the community. REC and DVC remain steadfast in their dedicatio

REC, Damodar Valley inks pacts worth Rs 588 cr to develop tubed coal mines
Updated On : 14 Feb 2024 | 11:36 PM IST

Govt in talks with ministers of IEA member countries for full membership

Ministers from the International Energy Agency's member countries have begun talks with India on its application to become a full member of the Paris-based agency of 31 nations, IEA said on Wednesday. In a statement issued after IEA's 2024 ministerial meeting in Paris, the agency said the talks with India are in recognition of the country's "strategic importance" in tackling global energy and climate challenges. "The Ministerial gave the IEA a strong mandate to deepen cooperation with major emerging economies. This includes starting discussions with India on its request for full IEA membership," it added. India, which joined the IEA as an associate member in 2017, sent a formal request for full membership in October 2023. "Ministers recognised the 'strategic importance' of India in tackling global energy and climate challenges," IEA said. Addressing the meeting through video conferencing, Prime Minister Narendra Modi said India is the world's fastest-growing major economy. "Susta

Govt in talks with ministers of IEA member countries for full membership
Updated On : 14 Feb 2024 | 10:29 PM IST

PTC Q3 results: Net profit slips 7% to Rs 97 cr, income up at Rs 3,483 cr

Power trading solutions provider PTC India on Wednesday reported over 7 per cent fall in its consolidated net profit to Rs 97.04 crore for the December 2023 quarter, impacted by higher expenses. It had clocked a net profit of Rs 104.48 crore in the year-ago period, the company said in an exchange. The company's total income, however, increased to Rs 3,483.93 crore from Rs 3,146.91 crore a year ago. Its expenses surged to Rs 3,353.09 crore from Rs 3,003.86 crore in the third quarter last fiscal. PTC India Ltd, a government of India initiative, is the pioneer in starting a power market in India. The company has maintained its leadership position in power trading since its inception. The trading activities involve long-term trading of power generated from large power projects, including renewables and short-term trading arising as a result of supply and demand mismatches. In a separate statement, its CMD Rajib K Mishra said, "The 9 months of FY24 have witnessed a 5 per cent increase

PTC Q3 results: Net profit slips 7% to Rs 97 cr, income up at Rs 3,483 cr
Updated On : 14 Feb 2024 | 10:02 PM IST

Orient Green Company Q3 results: Loss at Rs 20 crore, income at Rs 38 cr

Orient Green Power Company Limited (OGPL) on Wednesday reported a consolidated net loss of Rs 20.64 during the quarter ended December 2023. It had posted a net profit of Rs 9.74 crore in the October-December period of the preceding 2022-23 financial year, the company said in an exchange filing. Its total income was trimmed to Rs 38.18 crore from Rs 57.33 crore a year ago. Expenses stood at Rs 60.76 crore against Rs 65.78 crore in the third quarter of the last fiscal. In a separate statement, its CMD T Shivaraman said, "Our board approved a rights issue for about Rs. 250 crore predominantly for venturing into solar business and debt reduction. The reduced finance cost and a conducive regulatory environment promoting green energy bode well for the future".

Orient Green Company Q3 results: Loss at Rs 20 crore, income at Rs 38 cr
Updated On : 14 Feb 2024 | 8:56 PM IST

GVK Power Q3 results: Net loss at Rs 77 crore, income more than halves

GVK Power and Infrastructure Ltd (GPIL) on Wednesday posted a consolidated net loss of Rs 77.39 crore during the third quarter ended December 2023, mainly due to lower income. It had clocked a net profit of Rs 3,402.47 crore in the October-December 2022 period, the company said in an exchange filing. The company's total income more than halved to Rs 154.82 crore over Rs 342.79 crore a year ago. Its expenses stood at Rs 225.97 crore against Rs 355.59 crore a year ago. GVK is an Indian conglomerate with diversified interests across various sectors, including energy, airports, transportation, hospitality and life sciences.

GVK Power Q3 results: Net loss at Rs 77 crore, income more than halves
Updated On : 14 Feb 2024 | 8:55 PM IST

BHEL bags order to set up 800 MW thermal power plant from Haryana

State-owned BHEL on Wednesday said it has bagged an order to set up an 800 MW ultra-supercritical thermal power plant at Yamunanagar in Haryana. The 800 MW Deenbandhu Chhotu Ram Thermal Power Plant (DCRTPP) will be Haryana's first ultra-supercritical technology-based power project, Bharat Heavy Electricals Limited (BHEL) said in a statement. "Under International Competitive Bidding (ICB), BHEL has won an order for setting up an 800 MW Ultra-supercritical thermal power plant on engineering, procurement and construction (EPC) basis, at Yamunanagar, Haryana, from HPGCL (Haryana Power Generation Corporation Ltd.)," the company said. On commissioning, this plant will offer more efficient parameters and consume less coal in comparison to the existing subcritical units in the state. The proposed 800 MW unit shall be established adjacent to the existing 2x300 MW units, currently operational at Yamunanagar, it said. BHEL said it has executed central and state thermal utility projects of ove

BHEL bags order to set up 800 MW thermal power plant from Haryana
Updated On : 14 Feb 2024 | 5:08 PM IST