07-Aug-2024
Power
PFC Q1 Results: Net profit rises 24% to ?3,718 crore; ?3.25 per share dividend declared
New Delhi : 20% increase registered in consolidated Profit After Tax from Rs. 5,982 cr. in Q1’24 to Rs. 7,182 cr. for Q1’25. Consolidated Loan Asset Book crosses 10 lakh crores mark and stands at Rs.10,04,735 cr. as on 30.06.2024 vs. Rs.8,86,723 as on 30.06.2023. : Sarkaritel.com
Tata Power Q1 net profit jumps 31 pc to Rs 1,189 crore
New Delhi : Tata Power on Tuesday reported a 31 per cent jump in net profit at Rs 1,189 crore for the April-June quarter of 2024-25, compared to Rs 906 crore for the same quarter of the previous financial year. : Sarkaritel.com
Over 4.11 lakh farmers benefited from PM-KUSUM solar scheme
New Delhi : Over 4.11 lakh farmers have benefited in the country as of June 30 this year through the PM-KUSUM scheme that enables them to set up solar power plants and irrigation pumps on their land, Minister of State for New & Renewable Energy, Shripad Yesso Naik, informed the Rajya Sabha on Tuesday. : Sarkaritel.com
PFC Q1 Results: Net profit rises over 20% YoY to Rs 7,182 crore
New Delhi : State-owned Power Finance Corporation on Tuesday posted over 20 per cent rise in its consolidated net profit to Rs 7,182.06 crore in June 2024 quarter compared to a year ago, mainly due to higher revenues. : Economic Times
PFC Q1 Results: Net profit rises 24% to ?3,718 crore; ?3.25 per share dividend declared
New Delhi : State-owned Power Finance Corporation (PFC) on Tuesday reported a nearly 24% rise in consolidated net profit at ?3,718 crore for the April-June quarter of 2024-25. : cnbc.com
Power Finance Corporation consolidated net profit rises 21.13% in the June 2024 quarter
New Delhi : Net profit of Power Finance Corporation rose 21.13% to Rs 5543.14 crore in the quarter ended June 2024 as against Rs 4576.32 crore during the previous quarter ended June 2023. : Business Standard
India has pushed hard for solar. But as its billions demand more power, coal always gets the call
New Delhi : India has pushed hard for solar. But as its billions demand more power, coal always gets the call. : Economic Times
Fourth Partner Energy secures $275-mn equity investment from IFC-ADB-DEG Consortium
New Delhi : Fourth Partner Energy secures $275-mn equity investment from IFC-ADB-DEG Consortium. : Economic Times
Inox Wind secures 201 MW wind turbine order from Integrum Energy
New Delhi : Inox Wind secures 201 MW wind turbine order from Integrum Energy. : Economic Times
PFC reports 20% jump in Q1 net profit, loan book surpasses 10 lakh crore
New Delhi : PFC reports 20% jump in Q1 net profit, loan book surpasses 10 lakh crore. : Economic Times
Sunkind Energy gets 20 MW solar projects in Punjab, Maharashtra
New Delhi : Sunkind Energy gets 20 MW solar projects in Punjab, Maharashtra. : Economic Times
ReNew aims 21 GW portfolio in next 5 years
New Delhi : ReNew aims 21 GW portfolio in next 5 years. : Economic Times
Tata Power gets LoI to acquire SPV in Odisha
New Delhi : Tata Power gets LoI to acquire SPV in Odisha. : Economic Times
Adani continues power supply to Bangladesh
New Delhi : Adani Power Ltd Monday said the company is continuing to supply power to the Bangladesh power utility as part of their agreement without any disruption, amid the protests that led to political unrest in the country. : Economic Times
IFC, ADB, DEG invest $275 mn in Fourth Partner Energy
New Delhi : C&I-focused renewable energy company Fourth Partner Energy Ltd (FPEL) has secured a funding of $275 million from a consortium of World Bank’s International Financial Corporation (IFC), Asian Development Bank and the German Investment Corporation, DEG. : Mint
India has pushed hard for solar. But as its billions demand more power, coal always gets the call
New Delhi : India Prime Minister Narendra Modi was in the midst of a monthslong reelection campaign this April when he took to social media to trumpet a “remarkable feat!” and a “historic milestone” for his country: crossing 1 billion metric tons of coal and lignite production. : Mint
Power Finance Corp Q1 results: Net profit rises over 20% to Rs 7,182 cr
New Delhi : State-owned Power Finance Corporation on Tuesday posted over 20 per cent rise in its consolidated net profit to Rs 7,182.06 crore in June 2024 quarter compared to a year ago, mainly due to higher revenues. : Business Standard
NTPC seeks shareholders’ nod to raise Rs 12,000 cr via issuance of NCDs
New Delhi : State-owned power giant NTPC will seek shareholders approval to raise up to Rs 12,000 crore through issuance of Non-Convertible Debentures (NCDs/bonds) on a private placement basis in its annual general meeting on August 29. : Business Standard
Suzlon buys majority stake in Renom to strengthen renewable energy services
New Delhi : Suzlon Group on Tuesday said it has acquired a 51 per cent stake in Renom Energy Services Private Limited for Rs 400 crore to strengthen its operation and maintenance (O&M) services in the wind energy sector, according to a company press release. : Business Standard
PFC POSTS 20% INCREASE IN CONSOLIDATED PROFIT AFTER TAX AT RS. 5,982 CR IN Q1’24 AS AGAINST RS. 7,182 CR FOR Q1’25
New Delhi : 20% increase registered in consolidated Profit After Tax from Rs. 5,982 cr. in Q1’24 to Rs. 7,182 cr. for Q1’25. Consolidated Loan Asset Book crosses 10 lakh crores mark and stands at Rs.10,04,735 cr. as on 30.06.2024 vs. Rs.8,86,723 as on 30.06.2023. : globalgreenews.com
NTPC to add 33% of upcoming coal-based plants; fossil, non-fossil mix to be 60:40 by 2032
New Delhi : Out of the 80 GW of coal-based power generation capacity that India is planning to add by 2032, state-run NTPC Limited will be adding 33 percent or 26 GW and its fossil and non-fossil mix is expected to be nearly 60:40 by 2032, said its Chairman and Managing Director (CMD) Gurdeep Singh. : psuwatch.com
Renewable energy top priority, Rs 30 lakh crore investment expected to meet 500 GW target: Govt
New Delhi : An investment of up to Rs 30 lakh crore is expected to meet the country’s target of having 500 GW renewable energy capacity by 2030, Union minister Pralhad Joshi said in Rajya Sabha on Tuesday. : psuwatch.com
PGCIL shares zoom 1.11% amid receiving certificate for transmission system
New Delhi : State-owned POWERGRID has received ISO 55001:2014 certification for Asset Management of its transmission system, covering up to +/- 800 kV HVDC and 765 kV AC networks, including NTAMC and RTAMCs. : psuconnect.in
Tata Power to procure Paradeep Transmission SPV from PFC Consulting
New Delhi : Tata Power has been granted a Letter of Intent (LoI) from PFC Consulting to acquire Paradeep Transmission Ltd, a project-specific special purpose vehicle (SPV). PFC Consulting is a wholly-owned subsidiary of Power Finance Corporation. : psuconnect.in
India’s installed solar power capacity reaches 85.47 GW, wind power at 46.65 GW: Minister
New Delhi : The government on Tuesday informed that the total installed capacity of solar photovoltaic (PV) power in the country stands at 85.47 gigawatt (GW) and wind power at 46.65 GW. : Sarkaritel.com
PFC Q1 Results: Profit Jumps 23.6%, Announces Dividend Of Rs 3.25 Per Share
New Delhi : Power Finance Corp.’s net profit rose for the first quarter of fiscal 2025. The lender’s standalone net profit increased 23.6% year-on-year to Rs 3,718 crore, according to an exchange filing on Tuesday. : NDTV Profit
Power Finance Corporation net profit rises over 20% to Rs 7,182 cr in Q1
New Delhi : State-owned Power Finance Corporation on Tuesday posted over 20 per cent rise in its consolidated net profit to Rs 7,182.06 crore in June 2024 quarter compared to a year ago, mainly due to higher revenues. : Moneycontrol.com
Power Finance Corp board did not discuss Shapoorji Pallonji Group loan
New Delhi : The Power Finance Corporation (PFC) did not take up the issue of a loan sanctioned to the Shapoorji Pallonji (SP) Group in its board meeting held in Delhi today, said a top PFC official. : Business Standard
NTPC seeks shareholders’ nod to raise Rs 12,000 crore
New Delhi : NTPC seeks shareholders’ nod to raise Rs 12,000 crore. : Economic Times
PM Surya Ghar Muft Bijli Yojana crosses 100 MW solar capacity mark in Maharashtra
New Delhi : PM Surya Ghar Muft Bijli Yojana crosses 100 MW solar capacity mark in Maharashtra. : Economic Times
Adani Energy Solutions raises USD 1 bn in record Qualified Institutional Placement
New Delhi : Adani Energy Solutions raises USD 1 bn in record Qualified Institutional Placement. : Economic Times
Maharashtra scheme to raise solar power production 4-fold to 12.8k MW in 14 months
Mumbai : Maharashtra scheme to raise solar power production 4-fold to 12.8k MW in 14 months. : Economic Times
PFC Independent Directors Raise Concerns Over Rs.20,000-cr Loan Plan for SP Group
New Delhi : PFC Independent Directors Raise Concerns Over Rs.20,000-cr Loan Plan for SP Group. : Mint
Tata Power Q1 results: Net profit rises 4% to ?1,189 crore, revenue at ?17,294 crore
New Delhi : Tata Power announced a consolidated net profit of ?1,189 crore for the quarter ending June 30, 2024, marking a rise of over 4 per cent compared to the ?1,141 crore reported in the same period last year. : Mint
Inox Wind secures 201 MW project from Integrum Energy Infrastructure
New Delhi : Wind energy solutions provider Inox Wind on Tuesday said it has secured an order for a 201 MW project from Integrum Energy Infrastructure. : Business Standard
Tata Motors, Tata Power partner to boost EVs, solar power adoption
New Delhi : Tata Passenger Electric Mobility (TPEML) and Tata Power Renewable Energy (TPREL) have announced a strategic partnership to accelerate the adoption of electric vehicles (EVs) and solar power in India. : Business Standard
Tata Power Q1 FY25 results: Net profit flat at Rs 970 crore, revenue up 14%
New Delhi : Private power producer Tata Power reported a net profit attributable to the owners of the company of Rs 970 crore for the quarter ended June 2024 (Q1FY25), flat from its performance a year ago when it had recorded a one-time gain of Rs 234.68 crore. : Business Standard
PFC net profit rises over 20% to Rs 7,182 crore in Q1
New Delhi : State-owned Power Finance Corporation (PFC) on Tuesday posted over 20 percent rise in its consolidated net profit to Rs 7,182.06 crore in June 2024 quarter compared to a year ago, mainly due to higher revenues. : psuwatch.com
Central Government appoints Harish Dudani as Member in CERC
New Delhi : Shri. Harish Dudani has been administered Oath of Office and Secrecy by Hon’ble Minister for Power on 06.08.2024, as Member, CERC. : psuconnect.in
PFC Q1 Results: Net profit rises 24% to Rs 3,718 crore, dividend of Rs 3.25 per share declared
New Delhi : State-owned Power Finance Corporation (PFC) has reported the financial quarterly results ending June 30, with around 24% rise in consolidated net profit at Rs 3,718 crore for the April-June quarter of 2024-25. The company reported a profit of Rs 3,006.9 crore in the same period a year ago. : psuconnect.in
Oil and Gas
” New Delhi : Leading Maharatna public sector companies Coal India Limited and GAIL (India) Limited have signed a landmark joint venture agreement for setting up a Coal to Synthetic Natural Gas plant using surface coal gasification technology, the Ministry of Coal announced on Tuesday.” : Sarkaritel.com
Reliance Industries ascends to number 86 in Fortune Global 500 List for 2024
New Delhi : Reliance Industries ascends to number 86 in Fortune Global 500 List for 2024. : Economic Times
IndianOil cancels green hydrogen tender again
New Delhi : IndianOil cancels green hydrogen tender again. : Economic Times
Saudi Arabia’s Aramco reports lower half-year profits as economic worries dampen energy prices
New Delhi : Saudi Arabia’s Aramco reports lower half-year profits as economic worries dampen energy prices. : Economic Times
French imports of Russia’s liquified natural gas surge, and Ukraine supporters seek a stop
New Delhi : French imports of Russia’s liquified natural gas surge, and Ukraine supporters seek a stop. : Economic Times
Aramco’s second-quarter profit slips 3% on lower crude output
New Delhi : Oil giant Saudi Aramco on Tuesday reported a 3.4% fall in second-quarter profit on lower crude volumes and softer refining margins. : Mint
The petrochemical shift that could quench LPG production thirst
New Delhi : India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. : Business Standard
CIL & GAIL Sign a JV for Setting up Coal to SNG Plant
New Delhi : The Ministry of Coal, in collaboration with the Ministry of Power& Natural Gas, has facilitated a landmark joint venture agreement between two leading Maharatna CPSEs, Coal India Limited (CIL) and GAIL (India) Limited (GAIL) today (05.08.2024). : psuconnect.in
CIL & GAIL sign JV for coal to SNG plant in West Bengal
New Delhi : CIL & GAIL sign JV for coal to SNG plant in West Bengal. : Economic Times
Opinion: Saudi’s small crude price hike for Asia shows bigger concerns
New Delhi : Opinion: Saudi’s small crude price hike for Asia shows bigger concerns. : Economic Times
Bill to amend delinking petroleum operations from mining introduced in Rajya Sabha by Hardeep Puri
New Delhi : Bill to amend delinking petroleum operations from mining introduced in Rajya Sabha by Hardeep Puri. : Economic Times
IGX gas trading volume jumps 50% YoY in July 2024
New Delhi : IGX gas trading volume jumps 50% YoY in July 2024. : Economic Times
Bill in Parliament to bring policy stability in oil & gas
New Delhi : Oil and gas producers will get policy stability, a scope for international arbitration in case of dispute, and the possibility of a longer lease, according to a Bill introduced in Parliament. : Economic Times
Oil bounces from multi-month lows on tight supply amid Israel-Iran conflict; Brent nears $77/bbl
New Delhi : Global crude oil prices rose about one per cent in volatile trade on Tuesday, August 7, bouncing off multi-month lows hit in the previous session as investors turned their attention turned to supply tightness amid the Israel-Iran conflict and as financial markets recovered from their recent slump. : Mint
Gulf Oil Q1 results: Net profit rises 29% to Rs 88.02 cr, revenue up 9%
New Delhi : Lubes maker and Hinduja Group firm Gulf Oil Lubricants India’s net profit rose 29 per cent to Rs 88.02 cr in three months to June over the same period last year, the company said on Tuesday. : Business Standard
HPCL to commission Chhara LNG terminal, 2 more crucial projects by 2024-end
New Delhi : State-run Hindustan Petroleum Corporation Limited (HPCL) is expecting to commission its Chhara Liquefied Natural Gas (LNG) terminal by November or December this year, investors were told by the PSU’s management during a recent conference call. : psuwatch.com
Numaligarh Refinery to triple refining capacity after expansion
New Delhi : The Minister for Petroleum and Natural Gas, Hardeep Puri, mentioned that India is making progress towards achieving energy self-sufficiency. : psuconnect.in
Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On August 6
New Delhi : Petrol, Diesel Prices Today On August 6, 2024: Oil marketing companies (OMCs) announce fuel prices at 6 am on a daily basis. The OMCs adjust prices in response to global crude oil prices and fluctuations in foreign exchange rates, ensuring consumers are always informed about the latest fuel costs. : news18.com
