13-Aug-2022
Power
PFC registered a stand-alone profit of Rs. 2,110 cr. for Q1’ 23, announces dividend of Rs. 2.25 per share
New Delhi : PFC registered a stand-alone profit of Rs. 2,110 cr. for Q1’ 23. On consolidated basis, the PAT for Q1’23 is at Rs.4,580 cr. The company also announced Interim Dividend ofRs. 2.25 per share proposed by Board in Q1’23. : Sarkaritel.com
Actis acquires majority stake in Levanta Renewables
New Delhi : Actis, a global investor in sustainable infrastructure, on Friday said it has signed an agreement to acquire a majority stake in Levanta Renewables, Vietnam and Southeast Asia-focused renewables platform. : Economic Times
Bajaj Electricals Q1 net profit at Rs 41.19 cr
New Delhi : Bajaj Electricals Ltd on Friday reported a consolidated net profit of Rs 41.19 crore for the first quarter ended June 30. The company had posted a net loss of Rs 24.97 crore during the April-June quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing. : Economic Times
Developers add less than half of planned US solar capacity in H1: EIA
New Delhi : Power plant developers in the United States added less than half of the planned solar photovoltaic capacity in the half first of 2022, the US Energy Information Administration said on Thursday. : Economic Times
Keppel, unit to invest in German offshore wind farm in renewables push
New Delhi : Singaporean conglomerate Keppel Corp said on Friday it would spend 305 million euros ($314.7 million) along with a unit for a 50.01 per cent stake in a special purpose vehicle (SPV) that owns 50 per cent of Borkum Riffgrund 2, an offshore wind farm in Germany. : Economic Times
Haryana makes mandatory to conduct energy audit
Chandigarh : The Haryana government has made it mandatory to conduct energy audit for the consumers consuming 100 KW to 1,000 KW of the connected load. : Economic Times
Panel allows discoms to collect Rs 2,900 crore true-up charges
New Delhi : The AP Electricity Regulatory Commission (APERC) has given the green signal for the collection of true-up charges to the tune of ₹2,900 crore to discoms. : Economic Times
Greenko to develop up to 400 MW green capacity for Hindalco’s aluminium smelter in Odisha
New Delhi : Renewable energy company Greenko Group and aluminium maker Hindalco Industries have entered into an agreement to set up a green energy project that will have a capacity of 375 MW-400 MW in Odisha. : Economic Times
Solar plants to light up 27 AICTE institutions in Northeast
Guwahati : In a bid to make educational institutions self-sufficient in solar power, IIT Guwahati, in collaboration with AICTE, has completed the installation solar-power projects in the northeast, which are yielding 416 KW of power to help laboratories, offices and streetlights to function uninterrupted in 27 AICTE-affiliated institutions. : Economic Times
Government rolls back mandatory coal import order for power plants
New Delhi : The Centre has rolled back an emergency order that mandated power plants to import 10 per cent of their coal requirement and blend it with domestic supply. : Economic Times
Rise in power demand leads to 17 pc hike in coal supply to electricity generating plants in july
New Delhi : The supply of coal to electricity generating plants increased by 17.09 per cent to 58.45 million tonnes in July due to rise in power demand, the government data said. The government in the last few months has taken various measures to ensure adequate availability of coal for power stations. : Economic Times
PFC records 7% sequential rise in Q1 PAT to ₹4,579.5 cr, declares dividend
New Delhi : Government-owned financial backbone of the power sector, Power Finance Corporation (PFC) witnessed lacklustre earnings for the quarter ending June 30, 2022 (Q1FY23). : Mint
PFC Q1 profit up marginally at Rs 4,580 cr; income falls 2% to Rs 18,544 cr
New Delhi : State-owned Power Finance Corporation (PFC) on Friday posted a marginal rise in consolidated net profit at Rs 4,579.53 crore for June quarter 2022-23. : Business Standard
CIL’s 24 Mines Record More than 100% Production
New Delhi : Country’s State-Run coal mining and refining corporation, Coal India Limited registered a growth of 11.12% to 60.42 million tonnes (MT) from 54.25 MT during July 2022 as per the provisional statistics of the Ministry of Coal. : psuconnect.in
SJVN Financial results: Profit Increase 79% for Q1
Shimla : Sh. Nand Lal Sharma, Chairman and Managing Director, SJVN, informed that the Company has posted highest ever Revenues & Profit After Tax (PAT) for the first quarter during the Financial Year 2022-23. : psuconnect.in
Electricity Generation Company Genex Power To Take Over Australia’s Solar & Battery Project
New Delhi : Electricity Generation Company Genex Power To Take Over Australia’s Solar & Battery Project. : saurenergy.com
Shell To Buy Solar Farm In UK From Renewable Developer Anesco
New Delhi : Shell To Buy Solar Farm In UK From Renewable Developer Anesco. : saurenergy.com
Leading RE Producer EDF Energy Takes Solar Storage Project Online
New Delhi : Leading RE Producer EDF Energy Takes Solar Storage Project Online. : saurenergy.com
Daily News Wrap-Up: 2G Ethanol Plant Worth ₹9 Billion Inaugurated in Haryana
New Delhi : Daily News Wrap-Up: 2G Ethanol Plant Worth ₹9 Billion Inaugurated in Haryana. : mercomindia.com
US to Invest $23 Billion for Clean Energy Deployment, Launches Two New Programs
New Delhi : US to Invest $23 Billion for Clean Energy Deployment, Launches Two New Programs. : mercomindia.com
GUVNL Invites Bids for 1 GWh of Standalone Battery Energy Storage Systems
New Delhi : GUVNL Invites Bids for 1 GWh of Standalone Battery Energy Storage Systems. : mercomindia.com
Bids Invited for 42.8 MW of Solar Projects Under KUSUM Program in Gujarat
New Delhi : Bids Invited for 42.8 MW of Solar Projects Under KUSUM Program in Gujarat. : mercomindia.com
Tariff Regulations Issued for Renewable Projects Selling Power to Chhattisgarh DISCOMs
New Delhi : Tariff Regulations Issued for Renewable Projects Selling Power to Chhattisgarh DISCOMs. : mercomindia.com
NLCIL India Ltd Q1 results : clocks highest Ever Power generation 6963.03 MU, total income at Rs.3 176.54 cr, PAT at Rs. 506.08 cr
New Delhi : The company’s STANDALONE The Total Income of the Company for the Quarter ended 30.06.2022 is Rs.3 176.54 crore as against Rs.2504.45 crore in the corresponding period of the previous year, registering a growth of 26.84%. : Sarkaritel.com
India expresses concern over reports of shelling near Ukraine’s Zaporizhzhia nuclear power plant
United Nations : India has expressed concern over reports of shelling near the spent fuel storage facility of the Zaporizhzhia Nuclear Power Plant in Ukraine that could have “potentially serious consequences” for the people and called for mutual restraint to ensure that safety and security of nuclear facilities in the war-torn country are not endangered. : Economic Times
Siemens Gamesa to supply wind turbines for Azure Power’s Karnataka project
New Delhi : Siemens Gamesa on Friday said it has secured its first order in India with Azure Power to supply wind turbines for a 346 megawatt (MW) project in Karnataka. : Economic Times
Coal rejects reach Madhya Pradesh railway siding, locals allege scam
New Delhi : Late last month, the Madhya Pradesh Police seized two railway rakes that were found allegedly unloading coal rejects from a washery at a siding used by the railways at Singrauli near the Jharkhand border. : Economic Times
Ashok Leyland’s EV arm Switch Mobility partners Chalo to deploy 5000 EV buses in three years
New Delhi : Switch Mobility, the electric vehicle subsidiary of Ashok Leyland, has entered into an agreement with app-based public transport operator Chalo to supply more than 5,000 electric buses over three years. : Economic Times
Siemens posts loss as energy spin-off struggles
Frankfurt : German industrial conglomerate Siemens said Thursday it had made a significant net loss as it counted the cost of struggles at its former energy unit. : Economic Times
Siemens will not ditch Siemens Energy stake – CFO Ralf Thomas
New Delhi : Siemens will not sell its stake in Siemens Energy despite a 2.7 billion euro ($2.79 billion) writedown in the value of its investment, Siemens Chief Financial Officer Ralf Thomas said on Thursday. : Economic Times
Cheaper, changing and crucial: the rise of solar power technology
Paris, France : Generating power from sunlight bouncing off the ground, working at night, even helping to grow strawberries: solar panel technology is evolving fast as costs plummet for a key segment of the world’s energy transition. : Economic Times
TPDDL achieves full RPO compliance
New Delhi : Tata Power Delhi Distribution Limited on Thursday claimed that it has sourced 2,200 million units of green power from renewable sources. : Economic Times
24 coal mines record 100 per cent production in July
New Delhi : A total of 24 coal mines in the country recorded 100 per cent production in month of July as coal production went up by 11.37 per cent to 60.42 million tonnes (MT), officials said on Thursday. : Economic Times
Shapoorji Pallonji to offload 1.25 per cent stake in Sterling and Wilson Renewable energy
New Delhi : Construction firm Shapoorji Pallonji and Company Private Limited has proposed to offload the 1.25 per cent shares it holds in green energy company Sterling and Wilson Renewable Energy Ltd (SWREL). In a regulatory filing on Thursday, SWREL said, “Shapoorji Pallonji and Company Private Limited (seller) is one of (its) promoters. : Economic Times
Rise in power demand leads to 17% hike in coal supply in July
New Delhi : The supply of coal to electricity generating plants increased by 17.09 per cent to 58.45 million tonnes in July due to rise in power demand, the government data said. The government in the last few months has taken various measures to ensure adequate availability of coal for power stations. : Business Standard
PFC Q1 Financial Results; Registers profit of Rs 2,110 cr
New Delhi : Power Finance Corporation of India today reported a profit in its First quarter of the financial year 2023. The company’s stand-alone profit registers a growth of Rs. 2,110 crore for Q1’23. On a consolidated basis, the PAT for Q1’23 is at Rs.4, 580 cr. : psuconnect.in
ReNew Power goes all for ‘Har Ghar Tiranga’ campaign
New Delhi : India’s leading clean energy company, ReNew Power (ReNew), is utilising its wind and solar assets to heighten patriotism and support the Centre’s ‘Har Ghar Tiranga’ campaign for Independence Day. : psuconnect.in
Danish Power Company Ørsted Extends 100% RE Target To All Suppliers
New Delhi : Danish Power Company Ørsted Extends 100% RE Target To All Suppliers. : saurenergy.com
Energy Solution Provider INNIO To Power Raven SR’s Plant With 100% RE
New Delhi : Energy Solution Provider INNIO To Power Raven SR’s Plant With 100% RE. : saurenergy.com
Hindalco Partners With Greenko To Produce Solar & Wind Power For Odisha Smelter
New Delhi : Hindalco Partners With Greenko To Produce Solar & Wind Power For Odisha Smelter. : saurenergy.com
Hartek Solar Makes It To List Of Top 10 Rooftop Solar Power Companies In India
New Delhi : Hartek Solar Makes It To List Of Top 10 Rooftop Solar Power Companies In India. : saurenergy.com
Storage Solutions Provider Energy Vault Reports Revenue of $43.9 Million in 1H 2022
New Delhi : Storage Solutions Provider Energy Vault Reports Revenue of $43.9 Million in 1H 2022. : mercomindia.com
Keppel Buys Stake in 465 MW Offshore Wind Farm in Germany for $314 Million
New Delhi : Keppel Buys Stake in 465 MW Offshore Wind Farm in Germany for $314 Million. : mercomindia.com
More Than Enough Land is Available to Support Solar, Wind Development in the US
New Delhi : More Than Enough Land is Available to Support Solar, Wind Development in the US. : mercomindia.com
Shapoorji Pallonji to Offload 1.25% Stake in Sterling and Wilson
New Delhi : Shapoorji Pallonji to Offload 1.25% Stake in Sterling and Wilson. : mercomindia.com
SolarEdge’s Revenue from Solar Segment Surges 59% YoY in Q2 2022
New Delhi : SolarEdge’s Revenue from Solar Segment Surges 59% YoY in Q2 2022. : mercomindia.com
Oil and Gas
ONGC Q1 FY23 results : Posts net profit of ₹15,206 cr, crude production up by 1.9% and gas production up by 1.4%
New Delhi : ONGC has declared 2 discoveries in onland during FY 2022-23 in its operated acreages. Out of these, one is a new prospect (Kankpul-1 in NELP-VII JV block WB-ONN-2005/4) in West Bengal and the other is new pool (Mandapetta-60 in KG Onland) in Andhra Pradesh. : Sarkaritel.com
Crude oil futures decline on low demand
New Delhi : Crude oil futures on Friday declined 0.04 per cent to Rs 7,523 per barrel as participants trimmed their positions on low demand. : Economic Times
Oil prices set for weekly climb, but cloudy outlook caps gains
London : Oil prices were down slightly on Friday but set to rise on the week as recession fears eased though an uncertain demand outlook capped gains. : Economic Times
Green bank can help India turn carbon neutral
New Delhi : Sectors like power and steel, which are today among the major carbon emitters, need heavy investment to cut their carbon footprint. This would require companies to have access to significant ‘green finance’, top industry executives said during a panel discussion as part of the ET Sustainability Forum. : Economic Times
Shares of Oil India gain 3.56 per cent on strong June quarter numbers
New Delhi : Shares of Oil India Ltd (OIL) gained 3.56 per cent in morning trade on Friday after the nation’s second-largest state explorer reported strong June quarter results. On BSE, shares of OIL opened on a strong note at Rs 190, then gained more ground to touch Rs 194.65, registering a jump of 3.56 per cent over its previous close. : Economic Times
Uniper could swap Australian LNG for Atlantic gas to supply Europe quicker
Frankfurt : Germany’s Uniper is prepared to swap liquefied natural gas (LNG) it gets from Australia’s Woodside for US gas, so it can boost supplies in Europe more quickly during the coming winter, it said. : Economic Times
Australia’s Santos buys pipeline route for undeveloped gas project
New Delhi : Australia’s Santos Ltd said on Thursday it had bought a company that owns an approved underground pipeline route that could transport natural gas from its planned Narrabri project, aiming to supply the domestic market around mid-decade. : Economic Times
Poland imports first Murban oil as it prepares to ban Russian oil
Moscow : Poland imported a cargo of Abu Dhabi Murban oil in August for the first time as the country seeks alternatives to Russian oil, Refinitiv Eikon data showed and traders said. : Economic Times
Kazakhstan to start oil sales via Azeri pipeline to bypass Russia
Moscow : Kazakhstan is expected to sell some of its crude oil through Azerbaijan’s biggest oil pipeline from September, as the nation seeks alternatives to a route Russia threatened to shut, three sources familiar with the matter said. : Economic Times
IEA cuts Nigeria’s sustainable oil output capacity
New Delhi : The International Energy Agency (IEA) has cut Nigeria’s sustainable oil output by about 200,000 barrels per day (bpd), the agency said its July report, on the back of persistent technical issues and sabotage. : Economic Times
Methane emissions from US shallow offshore platforms exceed those on land, study finds
New Delhi : Measurements of methane emissions from shallow water oil and gas platforms in the US Gulf of Mexico found they were substantially higher than those from drilling on land, according to research published on Thursday. : Economic Times
Oil India June quarter net profit triples on oil, gas price boost
New Delhi : Oil India Ltd (OIL), the nation’s second-largest state explorer, reported a tripling of its net profit in the June quarter on record oil and gas price realisation. : Economic Times
OPEC further lowers forecasts for global economy and oil demand in 2022
Vienna : The Organisation of the Petroleum Exporting Countries (OPEC) has further revised down its forecasts for this year’s global economic growth and oil demand, following a previous downward revision in May. : Economic Times
Opec cuts oil demand forecasts as economic growth slows, says report
New Delhi : Global oil supplies are slowly catching up with flagging demand for crude, leaving the oil market close to balanced, the Organization of the Petroleum Exporting Countries (Opec) said, suggesting the cartel sees little need in the short term to increase its output further. : Business Standard
After a dip, oil prices on track for weekly gain as recession fears ease
New Delhi : Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased. : Business Standard
Oil India Q1 profit grows 206% at Rs.1,555 crore
New Delhi : India’s second-largest government-owned oil company, Oil India held its 535th Board Meeting on August 10, 2022. During the board meeting, the company’s board approved the Q1 FY 2022-23 results. : psuconnect.in
सूक्ष्म शैवाल से बायोडीजल- एक आशाजनक वैकल्पिक ईंधन
New Delhi : इस वर्ष विश्व जैव ईंधन दिवस – 2022 को “कार्बन तटस्थ विश्व की ओर जैव ईंधन” की थीम के साथ मनाया जा रहा है। यह विषय जलवायु परिवर्तन से निपटने हेतु पाँच अमृत तत्व पंचामृत के प्रति भारत की प्रतिबद्धता को दर्शाता है। पंचामृत में 2070 तक शुद्ध शून्य उत्सर्जन, 2030 तक गैर-जीवाश्म ऊर्जा क्षमता 500 गीगावाट तक, अक्षय स्रोतों के माध्यम से 50% ऊर्जा की आवश्यकता की पूर्ति, 2030 तक 1 अरब टन कार्बन उत्सर्जन में कमी, 2030 तक अर्थव्यवस्था की कार्बन तीव्रता में 45% से कम की कमी शामिल है। : Sarkaritel.com
UK’s Truss says energy firm profit is not evil as bill forecasts soar
London : British leadership candidate Liz Truss, the front-runner to become prime minister, said that while energy giants should be held to account their profits should not be seen as either dirty or evil. : Economic Times
British PM candidate Rishi Sunak plans 200 pound cut to energy bills
London : Former British finance minister Rishi Sunak, who is competing to be the country’s next prime minister, on Thursday set out a plan, including a reduction in energy bills, to tackle rising costs for households. : Economic Times
Poland’s PGNiG unit and Aker BP find new oil and gas in Norway
New Delhi : PGNiG said on Friday a unit of the Polish gas company and Aker BP have found new oil and natural gas deposits in the Norwegian Sea. : Economic Times
Owners of Madrid gas grid aim to launch sale in September: sources
London : The owners of a major Spanish natural gas network are preparing to launch a sale process in September with a targeted valuation of up to 2 billion euros ($2.1 billion), seeking a buyer who will advance its efforts to transition to low-carbon fuel, three sources familiar with the matter told Reuters. : Economic Times
Australian state balks at energy company’s request for help with LNG import terminal
Melbourne : The Australian state of New South Wales on Thursday poured cold water on a proposal for government assistance to secure gas imports through an import terminal being built by the country’s richest man to avert a forecast shortfall in 2023. : Economic Times
SC issues notices to Centre, ONGC on appeal of Vedanta Ltd relating to Barmer oil field
New Delhi : The Supreme Court on Friday sought a response from the Centre on an appeal of Vedanta Ltd against a Delhi High Court verdict related to a production sharing contract (PSC) of Vedanta and the ONGC to produce oil from the Barmer oil field in Rajasthan. : Economic Times
Opinion: Australia’s renewable energy ambitions dwarfed by coal, LNG juggernaut: Russell
New Delhi : One of the refrains of the environmental lobby is that Australia is extremely well-placed to become a renewable energy superpower, and that this will replace the loss of revenue from coal and natural gas exports. : Economic Times
Oil prices on track for weekly gain as recession fears ease
New Delhi : Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased. : Economic Times
Gas prices dip just below USD 4 for the first time in 5 months in US
New Delhi : Gasoline prices dipped to just under the USD 4 mark a gallon for the first time in more than five months – good news for consumers who are struggling with high prices for many other essentials. American Automobile Association (AAA) said the national average for a gallon of regular was USD 3.99 on Thursday. : Economic Times
AG&P Pratham to start supply of natural gas from September
Vijaywada : Gas distribution player AG&P Pratham, which is investing 200 crore in setting up gas distribution infrastructure in Kadapa over the next five years creating around 500 direct and indirect jobs, will start supply of natural gas from its LCNG station by September. : Economic Times
Global oil demand rises as gas prices surge: International Energy Agency
Paris, France : Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency said Thursday. : Economic Times
OPEC further lowers forecasts for global economy and oil demand in 2022
Vienna : The Organisation of the Petroleum Exporting Countries (OPEC) has further revised down its forecasts for this year’s global economic growth and oil demand, following a previous downward revision in May. : Economic Times
ONGC Q1 results: Net profit zooms 251% to ₹15,206 cr; revenue rises 84%
New Delhi : State-owned Oil and Natural Gas Corporation (ONGC) on Friday reported a 251% jump in its June quarter net profit (Q1FY23) at ₹15,205.85 crore. : Mint
OPEC further lowers forecasts for global economy and oil demand in 2022
New Delhi : The Organisation of the Petroleum Exporting Countries (OPEC) has further revised down its forecasts for this year’s global economic growth and oil demand, following a previous downward revision in May. : Business Standard
ONGC posts highest Q1 net profit of Rs 15,206 cr on record oil, gas prices
New Delhi : State-owned Oil and Natural Gas Corporation (ONGC) on Friday reported its highest quarterly net profit of Rs 15,206 crore in the June quarter on the back of record oil and gas prices. : Business Standard
