Media Update : 13-Aug-2022

Newsdesk
By Newsdesk August 13, 2022 08:28


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

” New Delhi : Director (Finance) R K Jain along with CVO Sandeep Sarkar distributed National Flag to GAIL employees at GAIL Corporate office in celebration of the launch of Har Ghar Tiranga Champaign.” : 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

” New Delhi : As a part of the ‘Azadi Ka Amrit Mahotsav’, ‘Har Ghar Tiranga’ campaign has also been launched in Pipeline Sphere to celebrate our nation’s momentous 75 years of independence.” : Sarkaritel.com

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

Newsdesk
By Newsdesk August 13, 2022 08:28