Power

Govt urges states to consider setting nuclear plants, list power utilities

India's stringent nuclear compensation laws have hampered talks with foreign power plant builders

India expects 708 GW demand by 2047; 2,100 GW power generation capacity

India needs to increase its power generation capacity four-fold to 2,100 GW by 2047 against an anticipated demand of 708 GW, Union Power Minister Manohar Lal said on Monday. As per official data, India's total power generation capacity stood at around 453 GW as of September 30, while the government's projection for peak power demand this year was 260 GW. However, it could not be reached due to lower temperatures due to rains, and peak power demand remained around 250 GW. "By 2047, we anticipate our power demand to reach 708 gigawatts. To meet this, we need to increase our capacity by four times, i.e. 2,100 gigawatts," Lal said, addressing 'Brainstorming Conclave on Indian Power Sector Scenario by 2047', organised by Central Electricity Authority (CEA) in partnership with industry body Ficci. Ficci former president Subhrakant Panda said India's power sector presents vast opportunities in the transition to clean energy by 2070. The expanding renewable energy sector offers promising .

Seven dead as storm hits Brazil's Sao Paulo, 1.4 mn homes without power

At least seven people were killed after a brief but powerful storm swept through Sao Paulo, Brazil with around 1.4 million households in the South America's largest metropolis left without power on Saturday. Officials in Sao Paulo state said that record wind gusts Friday night of up to 67 mph (108 kph) knocked down transmission lines and uprooted trees, causing severe damage in some parts. The storm also shut down several airports and interrupted water service in several areas, according to the state government. One person died when a tree fell on an outdoor stall, authorities said. At least six other people in surrounding Sao Paulo state also died. Authorities originally expected to restore power within a few hours. But several neighborhoods in the metropolitan area, which is home to 21 million people, were still in the dark on Saturday, and authorities were urging residents to limit their consumption of water. Most of the disruptions were in the service area of a single utility,

Cement makers may end H1FY25 with higher raw material costs, weak pricing

In a judgement passed in August, the Supreme Court upheld states' authority to impose additional taxes on minerals, including limestone, with effect from April 2005

Petronet LNG signs agreement with Sri Lankan govt for power generation

The Sri Lankan government and a state-run Indian firm on Tuesday signed an agreement to develop infrastructure for storage, regasification and LNG supply for a combined cycle power plant in the island nation, according to the power and energy ministry here. The memorandum of understanding (MoU) was signed between Sri Lanka's LTL Holdings Limited and India's Petronet LNG Limited for the infrastructure development of the Sobadhanavi Combined Cycle Power Plant at Kerawalapitiya, north Colombo. The Sri Lankan Minister of Power and Energy, Kanchana Wijesekera, and the Deputy High Commissioner of India, Satyanjal Pandey, signed the MoU at a ceremony here. Wijesekara said the power generation could be as low as fifty per cent less here than generation through fuel usage. "MOU for the development of Storage facilities, Regasification unit in Kerawalapitiya and the supply of LNG for the Yugadhanavi, Sobadhanavi & other LNG power plants in Sri Lanka was signed today," Wijesekera said in a ..

Record temperatures scorch eastern China, driving up power demand

In the east and northwest of China, temperatures as high as 43.9 degrees Celsius

China struggles to make use of boom in energy storage, calls for even more

Some industry insiders and experts say pricing reforms and technology improvements are needed for a storage sector

India's power demand may cross 400 GW mark by 2031-32: Power Secretary

India's peak power demand may surpass the projected 384 GW mark and cross even a new level of 400 gigawatt (GW) by 2031-32, Power Secretary Pankaj Agarwal said on Tuesday. Speaking at the CII-Smart Metering Conference, he said that peak power demand had already reached the 250 GW mark in May. "The way power demand has grown in some states in the last two years, the demand will touch 384 GW and may easily cross 400 GW by 2031-32. For this we must have an installed (power generation) capacity of 900 GW," Agarwal said. The government projection for this year's peak power demand was 260 GW. Later speaking to reporters, the secretary said the anticipated 260 GW peak demand is expected to reach by September. At the onset of the monsoon, the peak power demand has been showing a downward trend over the last few days. As per official data, the peak power demand was at 209 GW on Monday.

REC Ltd net profit grows 33% to Rs 4,079 crore in March quarter

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.

Sterlite Power bags Rs 2500 cr worth orders in Q4; FY24 wins surge 35% YoY

Sterlite Power on Tuesday announced securing new orders worth Rs 2,500 crore during the quarter ended March 31. This takes the company's cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement. "Sterlite Power has capped off a successful fiscal year FY24 with new orders worth Rs 2,500 crore for its Global Products and Services (GPS) business unit in Q4. This growth underscores the growing global and domestic demand for robust power transmission infrastructure, particularly to support the integration of renewable energy sources critical for a net-zero future," the company said. Pratik Agarwal, Managing Director, Sterlite Power, said, the company's GPS business is experiencing significant growth. These products are essential in driving the sector's expansion over multiple decades, spurred by the global shift towards energy transition and decarbonization. In Q4, some of the projects secured by the company are for

NTPC Group's installed power generation capacity crosses 76 GW milestone

State-owned power giant NTPC Group's installed power generation capacity has crossed the 76 GW-mark with commissioning of a 57-MW solar power energy capacity in Rajasthan. "Consequent upon successful commissioning and due approvals, first part capacity of 57 MW out of 90 MW Anta Solar PV Project at Anta, Rajasthan, is declared on commercial operation with effect from 00:00 hours of April 26, 2024," according to a regulatory filing. With this, it stated, the total installed and commercial capacity of NTPC on a standalone and group basis has reached 59,135 MW and 76,015 MW, respectively.

Snowfall disrupts life in Lahaul-Spiti; power, communication lines down

Normal life was thrown out of gear in the tribal areas of the district following near-relentless snowfall over three consecutive days--on March 2, 3 and 4

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

Power Mech Projects Q3 results: Net profit rises 22% to Rs 62 crore

Power Mech Projects Ltd on Tuesday posted a 22.5 per cent rise in consolidated net profit to Rs 62 crore for the quarter ended December 2023, aided by higher income. It had reported a net profit of Rs 50.6 crore in the October-December period of the preceding financial year, the company said in an exchange filing. Its total income rose to Rs 1,114.9 crore from Rs 912 crore a year ago. Expenses stood at Rs 1,008.2 crore against Rs 840.9 crore in the third quarter of the last fiscal. Hyderabad-based Power Mech Projects is one of the leading infrastructure-construction companies providing a spectrum of services in the power and infrastructure sectors.

Jindal Power offers Rs 4,203 crore for distressed coal-fired power plant

Adani Power had last month quoted 41 billion rupees ($493.38 million) for the 1,980-megawatt power plant in central India ensnared in insolvency proceedings

Power for all

Govt must address operational challenges

GE T&D India wins Rs 500 crore orders from Power Grid Corporation

GE T&D India on Tuesday said it has bagged Rs 500 crore orders from state-owned Power Grid Corporation of India for grid modernisation projects. These projects aim to facilitate the integration of renewable energy into the national electricity grid and enhance electricity transmission within the country, including in Rajasthan. "GE T&D India, a part of GE Vernova's Grid Solutions business, recently secured orders worth approximately Rs 500 crore from Power Grid Corporation of India (PGCIL) for the supply of 765 kV Power Transformers and Shunt Reactors for PGCIL's various transmission system projects in India," according to a BSE filing. "We are delighted to support PGCIL in the modernisation of India's grid infrastructure through the supply of locally manufactured equipment in alignment with the government's Make in India initiative," Sandeep Zanzaria, Managing Director and CEO of GE T&D India, said in the statement. To date, the company has successfully manufactured and ..

Genus Power Infrastructures arm bags order worth Rs 3,121.42 crore

Genus Power Infrastructures said that there is a possibility of seeing a "consistent and noteworthy surge" in order volumes over the upcoming quarters of the financial year 2023-24

Power consumption grows 10.7% due to increase in use of cooling appliances

The country's power consumption grew 10.7 per cent to 140.49 billion units in September mainly due to increased use of cooling appliances amid unusually humid weather conditions. In the year-ago period, power consumption stood at 126.91 Billion Units (BU), higher than 112.43 billion units in September 2021, according to government data. The peak power demand met -- the highest supply in a day -- rose to 239.97 GW in September. The peak power supply stood at 199.50 GW in September 2022 and 180.73 GW in September 2021. The power ministry had estimated the country's electricity demand to touch 229 GW during summer. The demand did not reach the projected level in April-July due to unseasonal rain. The peak supply, however, touched a new high of 224.1 GW in June and before dropping to 209.03 GW in July. Peak demand touched 238.19 GW in August. Spokesperson of the Tata Power Delhi Distribution Ltd, which supplies electricity to 70 lakh people in Delhi, told PTI that the demand has remai

REC signs pact with PFC committing stronger revenue in FY24, FY25

REC has signed an initial pact with PFC committing higher revenue from operations in FY24 and FY25, its CMD Vivek Kumar Dewangan said on Saturday. The memorandum of understanding has been signed as per the DPE (Department of Public Enterprises) Performance Evaluation System for FY24 and FY25 for Central Public Sector Enterprises, Dewangan told PTI. "As per the MoU, REC is committed to improving the revenue from operations from Rs 43,420 crore targeted in FY 2022-23 to Rs 46,935 crore in FY 2023-24 and Rs 56,322 crore in FY 2024-25," he said. The Mou was signed on Friday between Dewangan and Parminder Chopra, CMD of Power Finance Corporation (PFC) in presence of other senior officials from of the companies, in Gurugram. REC, under Ministry of Power, is a leading infrastructure finance company with a net worth of over Rs 57,000 crore as on March 31, 2023. It finances projects in the complete power sector value chain including generation, transmission and distribution. Recently, the