Power
House panel on power to discuss India's nuclear mission
The parliamentary consultative committee on power, headed by Power Minister Manohar Lal, will discuss nuclear energy's role in India's net-zero journey. A presentation will highlight the country's plan to increase nuclear power capacity to 100 GW by 2047 amidst public concerns about safety.
BEL approves fund raise of up to Rs 500 crore, led by Yash Kela led Singularity AMC
Singularity AMC will invest up to Rs500 crore in Bhilwara Energy Limited to create an integrated energy transition platform, HEG Greentech. This investment aims to support BEL's growth in power assets, battery materials, recycling, and advanced battery systems for energy storage and EVs, enhancing India's renewable energy efforts.
Fitch assigns Negative Outlook to Adani Energy, cites US probe risks
Fitch Ratings removed Adani Energy Solutions from its 'Ratings Watch Negative' list but assigned a Negative Outlook due to ongoing US investigations. These probes could uncover governance weaknesses affecting the company’s credit profile and future funding capacity, potentially impacting its capital expenditure plans.
NHPC no less than East India Company, drain of wealth happening from J&K: Congress' Tariq Hameed Karra
Jammu and Kashmir Congress president Tariq Hamid Karra criticized the NHPC for exploiting the state's resources and taking unwarranted consultancy fees. He highlighted issues like biased promotions, vacant leadership positions, and non-local firms benefitting from mining auctions, likening NHPC to the exploitative East India Company.
JSW Energy completes KSK Mahanadi buyout ahead of May deadline
JSW Energy has successfully completed the acquisition of the 1800 MW KSK Mahanadi thermal power company by paying ₹16,084 crore to creditors ahead of the deadline. This acquisition is part of a broader strategy, marking JSW's third significant power sector acquisition.
Nuclear power road map towards 100 GW goal likely by month end
India is set to finalize a road map under the Nuclear Energy Mission to achieve 100 GW of nuclear power by March end. An inter-ministerial committee will outline steps to support this goal, including the development of small modular reactors (SMRs) and joint ventures. The initiative aims to address rising power demand and achieve 'net zero' by 2070.
CCI okays JSW Energy's proposal to acquire KSK Mahanadi Power Company
The Competition Commission of India approved JSW Energy's acquisition of KSK Mahanadi Power, which owns a 3,600 MW thermal power plant in Chhattisgarh. This transaction will increase JSW Energy's locked-in thermal generation capacity significantly. Additionally, CCI approved Shell's acquisition of Raj Petro Specialities.
India prepared to meet 270 GW peak power demand this summer: Official
India is geared up to handle a peak power demand of 270 GW this summer, implementing measures such as full-capacity operation of imported coal plants, increased use of gas-based power, and water conservation for hydroelectric projects. The Central Electricity Authority emphasizes removing power shortages, particularly during crucial months.
Jindal Power wins bid for Bhadreshwar Vidyut; to pay Rs. 500 crore
Jindal Power has emerged as the successful bidder for Bhadreshwar Vidyut, securing it with a bid of around Rs. 500 crore. Bhadreshwar Vidyut, which operates thermal power plants in Gujarat, is under insolvency and owes Rs. 1200 crore to lenders. The resolution plan is now pending approval from the national company law tribunal.
India's power consumption grows slightly to 131.54 billion units in February
India's power consumption in February increased to 131.54 billion units, up from 127.34 billion units last year. Peak power demand also rose to 238.14 GW. The Indian Meteorological Department predicts a hotter-than-usual March, with more heatwave days, leading to higher power usage due to fans, coolers, and air conditioners.
Must Watch
Hindustan Power to invest Rs 620 crore in solar and battery energy storage projects in Assam
Hindustan Power, led by Ratul Puri, commits Rs 620 crore to power and battery energy storage projects in Assam. The MoU signed at Advantage Assam 2.0 will see the development of a 100 MW solar power plant and a 100 MW battery storage system, creating over 5,000 man days of employment.
L&T secures new power transmission orders in India, overseas
Larsen & Toubro's power transmission and distribution vertical has won new domestic and international contracts. In India, it will handle the transmission for a Renewable Energy Zone in Uttar Pradesh and a non-fossil fuel-based power plant in the south. International orders include a Gas Insulated Substation in Saudi Arabia and a new grid station in Abu Dhabi.
KSK Mahanadi lenders to seek nod to claim excess cash
Creditors of KSK Mahanadi Power are seeking NCLT's approval to distribute ₹4,300 crore of surplus cash before the fiscal year-end. JSW Energy's winning bid requires payment completion by May, so an interim cash distribution is being requested to settle lenders' dues promptly.
Coal India waives financial coverage charge for non-power sector consumers
Coal India Ltd has waived the requirement for non-power sector consumers to pay financial coverage for ten days' worth of coal supplied via rail transport. This initiative reduces transactional complexities and financial burden, improving cash liquidity and further streamlining coal supply operations in line with the ease of doing business efforts.
NTPC Group achieves fastest 400 BU power generation in FY25
NTPC has achieved its fastest-ever generation of 400 Billion Units in FY2024-25, a milestone reached in just 335 days. With over 77 GW of installed capacity and 29.5 GW under construction, including renewable energy, NTPC is committed to further expanding its green energy initiatives by 2032.
EDF India, Actis join hand to develop smart metering infrastructure in India
EDF India has formed a strategic joint venture with Actis to deploy smart metering infrastructure under the National Smart Metering Project. This collaboration aims to enhance operational efficiencies, reduce losses, and improve billing accuracy, supporting India's goal of deploying 250 million smart meters by 2025.
