Power Companies

Meja Urja Nigam board approves first dividend of Rs 350 cr for FY25

UP-based Meja Urja Nigam Pvt Ltd (MUNPL) on Wednesday said its board has approved the first interim dividend of Rs 350 crore for the current financial year. The dividend will be paid in ratio of 50:50 to promoter entities NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) by this week, the company said in a statement. "The Board of Directors on Tuesday approved the payment of an interim dividend of Rs. 0.96 per ordinary share of Rs 10 each, totalling Rs 350 crore for the current 2024-25 fiscal year," MUNPL said. CEO Kamlesh Soni said the company is actively pursuing a significant capacity addition of 5600 megawatt (MW). MUNPL recently inaugurated an ash brick plant to produce 12 lakh environment-friendly ash bricks annually to meet the plant's in-house requirements. CFO Amit Rautela said,"This is the first interim dividend for the running financial year. It will build the promoters' and all stakeholders confidence in the company, which is a result of the strong ..

Ahead of IPO, NTPC Green Energy sets up joint venture with MSPGCL

State-owned NTPC on Tuesday said its arm has set up a 50:50 joint venture with Maharashtra State Power Generation Company Ltd. The two parties have launched MAHAGENCO NTPC GREEN ENERGY PRIVATE LIMITED (MNGEPL), which will develop, operate and maintain renewable energy parks in Maharashtra. According to a regulatory filing, the MNGEPL was incorporated on November 25, 2024, as a 50:50 joint venture of NTPC Green Energy Ltd (NGEL), a wholly-owned subsidiary of NTPC Ltd and Maharashtra State Power Generation Company Ltd (MAHAGENCO), a Government of Maharashtra owned company. The JV will be engaged in the business of developing, operating and maintaining renewable energy parks in Maharashtra under UMREPP and allot parks for development of Renewable Energy Projects, it added. The NGEL has subscribed 50,000 equity shares at the face value of Rs 10 each.

KEC International bags new orders worth Rs 1,114 cr across businesses

KEC International on Monday said it has secured new orders worth Rs 1,114 crore across its various businesses. These businesses include Transmission & Distribution (T&D) under which the company has secured orders for T&D projects in the Middle East and the Americas, according to a statement. The company has bagged a 400 kV Transmission line in Oman and an order for supply of towers, hardware and poles in the Americas. Its civil business secured orders in the industrial segment in India and an order for Metro Overhead Electrification (OHE) works in the technologically enabled segment in the country. The company's cable business has bagged orders for supply of various types of cables in India and overseas. "With these new orders, our YTD (year-to-date) order intake stands at Rs 14,600 crore, reflecting a healthy growth of 50 per cent compared to last year," Vimal Kejriwal, MD & CEO of KEC International, said in the statement. KEC International Ltd, a flagship company of .

Datta Power Infra signs MoU to invest Rs 5,000 cr in RE sector in Rajasthan

Datta Power Infra on Wednesday said it has signed an initial agreement with the Rajasthan government to invest around Rs 5,000 crore in the renewable energy sector. The memorandum of understanding (MoU) was signed between company representatives and officials of the state government in Jaipur, Datta Power Infra said in a statement. Datta Power Infra looks to set up 1,000 MW renewable energy capacity, including solar, wind and hybrid projects. The projects across across Bikaner, Jaisalmer, Barmer, Nagaur, Pratapgarh and Jodhpur districts would generate jobs for 500-750 people, the company said. Datta Power Infra CFO Rajeev Kumar Bansal said, "As we embark on a transformative journey with our investment of Rs 5,000 crore in Rajasthan's wind, solar, and wind-solar hybrid projects, we are positioning ourselves to drive sustainable growth while contributing significantly to India's renewable energy capacity.

Power companies should coordinate in electricity production: Khattar

Union Minister of Power Manohar Lal Khattar emphasised the need for power companies to coordinate in electricity production and distribution to provide relief to consumers and prevent losses. Addressing the eighth annual Distribution Utility Meet (DUM) conference here, Khattar highlighted that energy would play a critical role in strengthening the economy and achieving India's goal of becoming a developed nation by 2047. "All electricity companies should work together to ensure that consumers aren't overburdened and that companies avoid losses," he said. Khattar also stressed the importance of increasing power generation nationwide and ensuring energy accessibility across all regions. He underlined the need for a greater focus on green and solar energy to reduce carbon emissions, noting that current energy demand is 250 GW and continues to rise. The Union minister suggested states focus on establishing nuclear-based power plants and noted that the government is working toward ...

Torrent Power Q2FY25 results: Net profit dips nearly 9% to Rs 495 cr

Torrent Power on Wednesday reported about 9 per cent dip in consolidated net profit to Rs 495.72 crore in the September quarter compared to the year-ago period as extended monsoon season curbed electricity demand and capacity utilisation of renewables. The company had a consolidated net profit of Rs 542.55 crore in the quarter ended on September 30, 2023, a BSE filing showed. Total income increased to Rs 7,300.51 crore in the period under review from Rs 7,069.11 crore a year ago. Total expenses rose to Rs 6,611.83 crore in the quarter from Rs 6,328.44 crore in the same period a year ago. The company stated that the increase in contribution from licensed distribution businesses was offset by lower contribution from thermal generation mainly on account of reduced sale of merchant power (including sale of LNG) due to lower electricity demand in the current quarter on account of extended and heavy Monsoon against comparable quarter last year. Lower contribution from renewable businesse

Denmark's NKT strengthens power cable project competencies in India

Globally, NKT has grown its order backlog of high-voltage projects to €11.3 billion by the end of the second quarter of 2024

RPower up 5%, hits 7-yr high ahead of board meeting to consider fundraise

Reliance Power shares are quoting higher for the eighth straight trading day, having surged 29 per cent during the period.

Power firms in Puerto Rico under scrutiny as officials demand fewer outages

Two private power companies came under scrutiny Wednesday while they presented plans to stabilize Puerto Rico's crumbling electric grid as officials demanded immediate action to minimize chronic power outages. The presentations by Genera PR, which operates the generation of power in the U.S. territory, and Luma Energy, which handles transmission and distribution, lasted more than five hours as they answered questions by Puerto Rico's Energy Bureau and others. The bureau had ordered both companies in June to produce aggressive plans to improve the island's electric system, which was razed by Hurricane Maria in 2017 but was already failing prior to the Category 4 storm given a lack of maintenance and investment under Puerto Rico's Electric Power Authority. We continue to see a high rate of critical failures, said Daniel Haughton, Luma's planning director. The ongoing outages come as crews make permanent repairs to the grid following Hurricane Maria, which caused an estimated $9.7 ...

TN CM Stalin signs MoU with Eaton to set up R&D centre worth Rs 200 cr

Over century-old intelligent power management company Eaton would establish its research and development centre in Tamil Nadu, reinforcing the company's commitment to strengthen its footprint in the country. The new facility to be spread across 1 lakh sq ft would come up in neighbouring Sholinganallur, Chengalpet district and expected to be completed by 2026 end. Chief Minister M K Stalin, Minister for Industries TRB Rajaa who are currently in the United States to woo investors to the state signed a memorandum of understanding with top officials of Eaton. In a social media post, Stalin said the company would invest Rs 200 crore in Tamil Nadu for setting up the Research and Development centre, that would create 500 new jobs. "Eaton has consistently invested in India's talent and technology infrastructure, positioning the country as a critical hub for our global engineering and innovation efforts." said Eaton Country Director-India Philipose Jacob -- Crouse-Hinds, B-Line, Oil and ...

Indian power firms owed over $1 bn by Bangladesh amid financial turmoil

Five Indian power companies-Adani Power, SEIL Energy India, NTPC, PTC, and Power Grid Corporation of India-are collectively owed over $1 billion.

PTC India Q1 results: Net profit rises 33% to Rs 189 cr on lower expenses

Power trading solutions provider PTC India on Tuesday posted about 33 per cent rise in its consolidated net profit to Rs 189 crore in the June quarter due to lower expenses. "Consolidated Profit After Tax (PAT or net profit) in Q1-FY25 was Rs 189 crore compared to Rs 143 crore in Q1 FY24, an increase of 33 per cent," a company statement said. The total expenses came down to Rs 4,486.14 crore in the quarter from Rs 4,603.93 crore a year ago. The earnings per share (EPS) of the company increased to Rs 5.87 in Q1 FY25 compared to Rs 4.39 in Q1 FY24. The trading volume was 20.5 BUs (billion units) in Q1-FY25 compared to 20.6 BUs in Q1 FY24. Consulting income for Q1 FY25 stood at Rs 11 crore. The core margin was 3.50 paisa per unit. Manoj Kumar Jhawar, Chairman and Managing Director (Addl Charge) and Director (Commercial & Operation), PTC India, said, "The unusual changes in demand pattern, partly due to extreme weather conditions during the quarter saw high electricity demand and ...

BHEL shares zoom 10% on securing thermal power project from Adani Power

BHEL is one of India's largest engineering and manufacturing enterprises, particularly prominent in the energy and infrastructure sectors

NLC India shares slip 5% on plans to raise $600 mn foreign currency loan

NLC India's board of directors are set to meet on June 10, 2024 to consider and approve foreign currency loan through external commercial borrowings (ECB) up to $600 Million

Power demand hits record 250 Gw, coal, gas driving bulk of supply

The northern region also achieved a record demand met, reaching an all-time high of 86.7 GW, while the western region also touched its maximum demand met of 74.8 GW

Delhi power demand all-time high at 8,000 Mw amid intense summer heat

Delhi's peak power demand reached an all-time high of 7,717 MW on Tuesday afternoon amid intense summer heat, Discom officials said. According to the State Load Dispatch Centre (SLDC), Delhi, real-time data, the peak demand of the city broke all previous records. It reached 7,717 MW at 3.33 pm, they said. Delhi's previous all-time high peak power demand was recorded at 7,695 MW on June 29, 2022, officials said. The national capital is reeling under intense heat with a steady temperature rise. The India Meteorological Department (IMD) has predicted heat wave conditions in many parts of Delhi and severe heatwave conditions in some areas. It has also issued a red alert for the next four days. According to the seven-day forecast, the maximum temperature will be in the range of 44 to 47 degrees Celsius. The minimum temperature on Tuesday settled at 30.7 degrees Celsius, four notches above normal, according to the IMD. The maximum temperature of the day is expected to be around 45 deg

'Measures in place': Govt gears up to meet peak power demand in May, June

The government has taken adequate measures to meet the estimated 235 GW peak power demand in May and 240 GW in June, according to an official statement. "With various measures, we have been able to successfully meet the peak evening power demand of 224 GW during April 2024," the Ministry of Power on Friday. The power demand is projected to peak at 235 GW during the day-time and 225 GW during evening hours for May and 240 GW during day-time and 235 GW during evening hours for June 2024, it said in the statement. The power ministry has estimated around 260 GW of peak demand during this summer season. Elaborating on the measures, the ministry said section 11 directions have been issued to gas-based power plants besides coal-based units to make full capacity available for electricity generation. The optimisation of hydropower generation has made available an additional 4 GW for meeting the demand during May and June. Further, the shifting of planned maintenance and minimisation of pa

NTPC, Power Grid sink 3% on profit taking after rallying up to 21% in 1 mth

The BSE power index, meanwhile, closed calendar year 2023 with gains of 34 per cent with NTPC and Power Grid surging 87 per cent and 48 per cent, respectively, for the year

Tesla Power India planning to hire over 2,000 people across verticals

Tesla Power India on Monday said it is planning to recruit over 2,000 employees across various verticals as part of its expansion plans. The planned recruitment drive will encompass positions across engineering, operations, sales, marketing, and support functions, providing ample job opportunities for the youth, it said in a statement. The sustainable energy storage solutions provider also recently launched its refurbished battery brand ReStore. It plans to open 5,000 ReStore units by 2026 across the country. "As we continue to expand our footprint in India, we recognise the critical role that talented individuals will play in achieving the sustainable goals through innovation. We are excited to welcome the new talent in our team and leverage their contribution to further our mission of Save Cost. Save the Environment. Save Lives," Tesla Power India Managing Director Kavinder Khurana said.

Power PSUs to implement PM Suryodaya Yojana: Power minister R K Singh

He said subsidy under PMSY would be 60% of the total project cost and the balance would be the loan