MEDIA UPDATE (AUGUST 06, 2022)

Sarkaritel
By Sarkaritel August 6, 2022 06:44


06-Aug-2022

Power

” New Delhi : Pramod Boro, Chief Executive Member, BTR today interacted with the 40 Girl Empowerment Mission (GEM) girls of NTPC Bongaigaon under its “Meet the Role Models” Initiative and also as a part of their educational tour to BTC Secretariat.” : Sarkaritel.com

REC Q1 net rises 8 per cent to Rs 2,454 cr

New Delhi : State-owned REC Ltd has posted an 8 per cent increase in its consolidated net profit at Rs 2,454.16 crore for the first quarter ended June 30, on the back of reduced expenses. The company had clocked a net profit of Rs 2,268.66 crore during the April-June quarter of financial year 2021-22, the company said in a regulatory filing on Thursday. : Economic Times

REC sanctions Rs 22,000 cr to discoms under LPS rules

New Delhi : State-owned NBFC REC Ltd on Thursday said it has sanctioned Rs 22,000 crore to power distribution companies (discoms) to clear their outstanding dues. : Economic Times

India’s Power Finance Corp to issue multi-tenor bonds: traders

Mumbai : India’s Power Finance Corp plans to raise funds through sale of bonds maturing in three years as well as 10 years, four merchant bankers said on Friday. : Economic Times

RBI hikes benchmark lending rate by 50 basis points to curb inflation

Mumbai : The Reserve Bank of India (RBI) on Friday raised the benchmark lending rate by 50 basis points to 5.40 per cent to tame inflation. With the latest hike, the repo rate or the short term lending rate at which banks borrow has crossed the pre-pandemic level of 5.15 per cent. : Economic Times

BHEL Q1 net loss narrows to Rs 188 cr

New Delhi : State-owned Bharat Heavy Electricals Limited (BHEL) on Thursday reported narrowing of its consolidated net loss to Rs 187.99 crore for the quarter ended June 30, 2022. : Economic Times

Coal crisis unlikely this year: CIL Chairman Pramod Agrawal

New Delhi : Coal stocks at power plants will be in a comfortable position post-monsoons this year and a crisis like last August’s is unlikely, Coal India chairman Pramod Agrawal said. The company is reorienting its strategy by accelerating its production pace from the first quarter itself. : Economic Times

REC okays subscribing 50% equity in asset management firm PFC Projects

New Delhi : State-owned REC Ltd board has approved a proposal for subscribing 50 per cent equity not exceeding Rs 50 crore in PFC Projects, a power asset management company for taking over stressed assets. : Business Standard

German utility EnBW plans 31 per cent electricity bill hike: report

Berlin, Germany : Customers of Germany’s EnBW could see their electricity bills jump by almost a third from October 1, according to a media report, as power utilities hike prices to pass on soaring energy costs. : Economic Times

Heavy rains lead to increased hydropower generation in TN

Chennai : The heavy southwest monsoon in the Western Ghats and constant inflow of water from reservoirs in Karnataka have led to dams in Tamil Nadu gaining full capacity. : Economic Times

Switzerland’s new energy asset: hydro plant with capacity to charge 400,000 car batteries

New Delhi : Switzerland is adding a much needed cog in the wheel to its energy supply with an underground hydropower plant that says it has capacity to store enough electricity to charge 400,000 car batteries simultaneously. : Economic Times

Rio Tinto attracts several proposls to build 4 GW of wind, solar power

Melbourne : Global miner Rio Tinto has received several offers to build 4 gigawatts (GW) of wind and solar farms to power its alumina and aluminium operations in Australia’s Queensland state, the company’s Australia head said on Friday. : Economic Times

Hydel power focus in KRMB meeting

Hyderabad : Both Telangana and Andhra Pradesh would continue hydel power generation in their respective jurisdictions and a standing committee is to be set up at Krishna River Management Board (KRMB) to take decision on it on a permanent basis. : Economic Times

Coal stock position will be comfortable after monsoon

New Delhi : Coal stocks at power plants will be in a comfortable position post-monsoons this year and a crisis like last year’s is unlikely, Coal India chairman Pramod Agrawal said in an exclusive interview with ET. : Economic Times

Kalpataru Power Transmission Q1 net profit grows 13 pc to Rs 88 cr

New Delhi : Kalpataru Power Transmission Ltd (KPTL) on Thursday said its consolidated net profit rose by about 13 per cent to Rs 88 crore for the quarter ended June 30, mainly driven by higher income. The consolidated net profit of the company in the year-ago period stood at Rs 78 crore, according to a regulatory filing. : Economic Times

Energy Conservation (Amendment) Bill 2022: Roadmap To India’s Climate Targets

New Delhi : Energy Conservation (Amendment) Bill 2022: Roadmap To India’s Climate Targets. : saurenergy.com

Why The Solar Industry Needs To Push For A Circular Economy

New Delhi : Why The Solar Industry Needs To Push For A Circular Economy. : saurenergy.com

GSECL Invites Bids For The 20 MW Grid Connected Solar Plant

New Delhi : GSECL Invites Bids For The 20 MW Grid Connected Solar Plant. : saurenergy.com

REC Approves ₹220 Billion for DISCOMs to Clear Dues to Power Generators

New Delhi : REC Approves ₹220 Billion for DISCOMs to Clear Dues to Power Generators. : mercomindia.com

Inflation Reduction Act Could be a Gamechanger for US Solar Industry

New Delhi : Inflation Reduction Act Could be a Gamechanger for US Solar Industry. : mercomindia.com

Bids Invited for a 20 MW Solar Project at GETCO Substation in Gujarat

New Delhi : Bids Invited for a 20 MW Solar Project at GETCO Substation in Gujarat. : mercomindia.com

Rajasthan Electronics Issues Tender To Procure 1,000 Solar Modules

New Delhi : Rajasthan Electronics Issues Tender To Procure 1,000 Solar Modules. : mercomindia.com

DCM Shriram to Source Power from ReNew’s 50 MW Wind-Solar Hybrid Project in Gujarat

New Delhi : DCM Shriram to Source Power from ReNew’s 50 MW Wind-Solar Hybrid Project in Gujarat. : mercomindia.com

Tata Power to have 1,500 e-charging stations in Maharashtra

Mumbai : Tata Power on Wednesday announced setting up electric vehicle (EV) charging infrastructure across Maharashtra, with a focus on highways and expressway linking Mumbai to Pune, Nashik, Goa and other places. : Economic Times

Analysis: Global energy crisis drives rethink of nuclear power projects

New Delhi : The Philippines’ Bataan Nuclear Power Plant (BNPP) has not produced any electricity since it was finished in 1984, despite its $2.3 billion price tag and its promise of energy security during the 1970s oil crisis. : Economic Times

SJVN buys 2,043 acre-land for 1,000 MW solar project in Rajasthan

New Delhi : State-owned SJVN has purchased 2,043 acres of land to set up a 1,000 MW solar power project in Bikaner, Rajasthan. The project is scheduled to be commissioned in January 2024. : Economic Times

BEST’s first electric double decker bus likely to be in public service from September

Mumbai : The first electric double decker bus is expected to be commissioned for the public in Mumbai from September, Brihanmumbai Electric Supply and Transport (BEST) Undertaking officials said on Thursday. : Economic Times

PTC, SJVN ink pact to sell power from upcoming Arun-3, Lower Arun hydro projs

New Delhi : PTC India Ltd on Thursday said it has entered into a pact with SJVN for sale of electricity from two hydel power projects. The company has entered into the Memorandum of Understanding (MoU) with SJVN Arun-3 Power Development Company Private Limited (SAPDC), a wholly-owned subsidiary of state-owned SJVN. : Economic Times

Rajasthan solar boom offers big scope in Nanotechnology

New Delhi : With the boom in solar energy business in Rajasthan, universities like BITs and RTU are providing Nanotechnology specifications for students to excel. For students pursuing engineering, looking for fields that could lead to potential employment opportunities, Nanotechnology is something they should keep their eyes on. : Economic Times

Electricity Amendment Bill to be introduced in Parliament on Monday

New Delhi : The Electricity Amendment Bill, to be introduced in Parliament on Monday, proposes radical changes in the power distribution sector, the weakest link, by enabling competition, strengthening payment security and more muscles to regulatory commissions. : Economic Times

India plans contentious law to cut $75 billion utility debt

New Delhi : India is planning laws that would boost competition and lower debt at its power distribution companies, but also risks fomenting anger in a country where electricity is often used as an election sweetener. : Economic Times

Electricity Bill 2022 to push pvt investment in power distribution sector

New Delhi : The long-standing proposal to amend the Electricity Act, 2002, could finally see light of the day as it is likely to be tabled in Parliament next week. : Business Standard

SJVN CMD reviewed Arun-3 Project Turbines manufacturing in BHEL, Bhopal

New Delhi : Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN visited Bharat Heavy Electricals Limited (BHEL) Plant at Bhopal. Sh. Sharma was accompanied by Sh. A. K Singh Director (Finance), and other senior officials of SJVN. : psuconnect.in

SJVN secured 200 MW Solar project through e-Reverse by MSEDCL

New Delhi : Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN informed that SJVN has secured a 200 MW Solar Power project through an e-Reverse auction by Maharashtra State Electricity Distribution Company Limited (MSEDCL). : psuconnect.in

MSEDCL’s 500MW Solar Tender Awarded to SJVN, Tata Power & Others

New Delhi : MSEDCL’s 500MW Solar Tender Awarded to SJVN, Tata Power & Others. : saurenergy.com

Green Jobs Are Finally A Mainstream Reality In India, Thanks To Solar

New Delhi : Green Jobs Are Finally A Mainstream Reality In India, Thanks To Solar. : saurenergy.com

BPCL Floats Tender For 14MW AC / 18MW DC Grid Connected Solar Power

New Delhi : BPCL Floats Tender For 14MW AC / 18MW DC Grid Connected Solar Power. : saurenergy.com

Terabase Energy Raises Fund From Bill Gates’ Breakthrough Energy Ventures

New Delhi : Terabase Energy Raises Fund From Bill Gates’ Breakthrough Energy Ventures. : saurenergy.com

Amp Energy India & RUMSL To Develop India’s Largest Floating Solar Project

New Delhi : Amp Energy India & RUMSL To Develop India’s Largest Floating Solar Project. : saurenergy.com

India Pledges 50% of the Installed Power Capacity from Non-Fossil Sources by 2030

New Delhi : India Pledges 50% of the Installed Power Capacity from Non-Fossil Sources by 2030. : mercomindia.com

EPC Tenders Issued for 4 MW Solar Projects Along Two Bus Routes in Gujarat

New Delhi : EPC Tenders Issued for 4 MW Solar Projects Along Two Bus Routes in Gujarat. : mercomindia.com

Bids Invited for 298 MW of Solar Projects Under KUSUM Program in Maharashtra

New Delhi : Bids Invited for 298 MW of Solar Projects Under KUSUM Program in Maharashtra. : mercomindia.com

Daqo New Energy’s Revenue Surges 182% YoY to $1.24 Billion in Q2 2022

New Delhi : Daqo New Energy’s Revenue Surges 182% YoY to $1.24 Billion in Q2 2022. : mercomindia.com

J&K Discoms among 4 States get financial assistance to clear power dues

Jammu : Under new LPS Rules, State owned Non-Banking Finance Company (NBFC) REC Ltd has sanctioned Rs 22,000 crores to power distribution companies (Discoms) of Jammu Kashmir Union Territory and three other States to clear their dues. : dailyexcelsior.com

DCM Shriram to source 50 MW renewable energy from ReNew Power

New Delhi : DCM Shriram has agreed to source 50 MW of renewable energy from ReNew Power for its chlor-alkali manufacturing facility in Bharuch, Gujarat. DCM Shriram — which is in the chemicals, sugar and fertilisers business — and ReNew Power on Thursday announced the signing of two captive power agreements (CPAs). : Economic Times

India keeps renewables target flexible, goal of 500 GW green energy by 2030 dropped

New Delhi : India dropped its target of establishing 500 GW of renewable energy capacity by 2030, giving itself the flexibility of 50 per cent power from non-fossil fuel sources by then in its commitments to the United Nations Framework Convention on Climate Change (UNFCCC). : Economic Times

Electricity Bill moots radical changes in retail distribution

New Delhi : The government is proposing radical changes in the electricity distribution regime, the weakest link in the power sector, by enabling competition, strengthening payment security for producers and ensuring more muscles for regulatory commissions. : Economic Times

Power Minister review Planning & Monitoring Meet with various state officials

New Delhi : Union Minister of Power and New & Renewable Energy Shri R K Singh chaired and review the Planning & Monitoring Meeting (RPM) with various state officials in New Delhi today. : psuconnect.in

ReNew Bags 50 MW Hybrid Deal In Corporate PPA With DCM Shriram

New Delhi : ReNew Bags 50 MW Hybrid Deal In Corporate PPA With DCM Shriram. : saurenergy.com


Oil and Gas

OIL Logistics Department converted existing company vehicles to CNG based

New Delhi : Oil India Limited, Logistics Department taking firm steps toward the Government of India’s vision of clean & green energy through the conversion of existing company vehicles to CNG based. The six Petrol and two diesel vehicles were converted in Phase 1. clean energy green energy. : psuconnect.in

Pehle Indian Phir Oil: IOCL celebrates the spirit of Har Ghar Tiranga

New Delhi : Indian Oil, Chairman Mr S M Vaidya today on August 5, celebrates the spirit of Har Ghar Tiranga by presenting the Indian tricolour to the members from IndianOil Board. : psuconnect.in

Petronet Q1 net up 10% on processing larger volumes of imported fuel

New Delhi : Petronet LNG Ltd, India’s largest liquefied natural gas importer, on Friday reported a 10 per cent rise in first-quarter net profit on processing larger volumes of imported fuel. : Business Standard

B’desh to allow ferrying of petroleum products to NE states via its territory

Agartala : The Indian Oil Corporation Limited (IOCL) has signed an MoU with the Bangladesh Roads and Highways Department in Dhaka for emergency ferrying of petroleum products to the northeastern states of India through Bangladesh’s territory, an official said on Thursday. : Economic Times

GAIL faces profit hit over gas supply cut, says finance chief

New Delhi : Profit at state-run GAIL (India) Ltd will be hit as it rations gas sales after supplies are cut under its long-term deal with a former unit of Russian energy giant Gazprom amid high spot prices, its head of finance Rakesh Kumar Jain said on Thursday. : Economic Times

RBI hikes benchmark lending rate by 50 basis points to curb inflation

Mumbai : The Reserve Bank of India (RBI) on Friday raised the benchmark lending rate by 50 basis points to 5.40 per cent to tame inflation. With the latest hike, the repo rate or the short term lending rate at which banks borrow has crossed the pre-pandemic level of 5.15 per cent. : Economic Times

GAIL stock slips on worries of gas supply disruptions despite strong Q1

New Delhi : Despite strong Q1 results for the 2022-23 financial year (Q1FY23), gas marketing and trading public sector enterprise (PSU) GAIL saw a sell-off. The company reported Rs 37,572 crore in revenues, earnings before interest, tax, depreciation and amortisation (Ebitda) of Rs 4,365 crore, and profit after tax (PAT) of Rs 2,915 crore. : Business Standard

BPCL Floats Tender For 14MW AC / 18MW DC Grid Connected Solar Power

New Delhi : BPCL Floats Tender For 14MW AC / 18MW DC Grid Connected Solar Power. : saurenergy.com

Germany needs to slash gas use by more than any other EU state: Analysis

Berlin, Germany : Germany needs to reduce its gas consumption by more than any other European Union member state in order to achieve the bloc’s agreed savings target of 15 per cent, according to an analysis. : Economic Times

Canada defends decision to return Russian gas turbine

New Delhi : The Canadian government has defended its decision to return a turbine critical to restoring regular gas flows from Russia to Germany that had been held up in the country due to Western sanctions on Moscow. : Economic Times

Kashagan oil output down more than 80 per cent due to technical issues: sources

New Delhi : Output at Kazakhstan’s giant Kashagan oilfield in early August was down more than 80% from July’s average level due to technical issues, two sources familiar with the matter told Reuters on Thursday. : Economic Times

Haryana only state in region to start biomass gasifier plants

Gurgoan, Haryana : Haryana is the only state in the region to have installed biomass gasifier plants with a capacity of 6,463 kWeq (kilowatt equivalent) for power generation from stubble and biomass. : Economic Times

Piped cooking gas price hiked Rs 2.63 per unit; rates up 70% in 1 year

New Delhi : The price of cooking gas piped to household kitchens in the national capital and adjoining cities was hiked by Rs 2.63 per unit on Friday, the second increase in rates in less than two weeks. : Business Standard

Oil prices set to end week at multi-month lows on recession fears

London : Oil prices slipped on Friday and were near their lowest levels since February as concerns over a possible recession and a fall in fuel demand continued to rattle markets. : Business Standard

Tullow Oil abandons Guyana well after dismal drilling results

New Delhi : Africa-focused Tullow Oil said on Friday it would abandon its drilling operations at an exploration well offshore Guyana after results showed the well bore water, sending its shares lower. : Economic Times

Equinor’s UK Rosebank investment to reach $5.2 bln

London : Equinor’s Rosebank oil and gas field in the British North Sea will require capital expenditure of about 4.3 billion pounds ($5.22 billion), Equinor’s UK upstream chief Arne Guertner told Reuters on Friday. : Economic Times

Ohmium and Spirare Energy collaborate with NTPC for green hydrogen

New Delhi : Ohmium International, Inc., a green hydrogen company that designs, manufactures, and deploys polymer electrolyte membrane (PEM) electrolyzers, is collaborating with Spirare Energy, a leading provider of on-site energy generation systems, to generate green hydrogen at the NTPC Energy Technology Research Alliance (Netra) campus. : Economic Times

Energy security: Japan looks to preserve interests in Russian oil fields

Tokyo, Japan : Japan wants to preserve its participation in the Sakhalin-2 oil and gas project following Russian government’s decision to establish a new project operator, Japan’s Economy, Trade and Industry Minister Koichi Hagiuda said on Thursday. : Economic Times

Oil languishes on recession fears; unconcerned stocks climb on

New Delhi : Oil languished near its lowest since the start of the war in Ukraine on Friday on fears of a global recession, though stocks ignored such worries, gaining ahead of US jobs data that will give another clue to the health of the world’s largest economy. : Economic Times

TC Energy inks deal with Mexican utility to develop $4.5 bln gas pipeline

New Delhi : TC Energy Corp said on Thursday it had struck a deal with a Mexican state utility to develop a $4.5 billion natural gas pipeline. : Economic Times

Opinion: A new beginning for hydrogen around the corner

New Delhi : Globally, as countries look for options to reduce emissions and achieve climate targets, hydrogen is emerging as the frontrunner for decarbonisation strategies. Hydrogen has, indeed, come a long way from 2019, when only Korea, Japan, and France had hydrogen-specific policies, to today, with 31 governments having released their hydrogen strategies. : Economic Times

Oil prices extend losses on demand worries

Singapore : Oil prices extended losses on Friday, after hitting their lowest since before Russia’s February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation on global economic growth and demand. : Economic Times

Opinion: US diesel shortage shows economy hitting capacity limit: Kemp

London : US distillate fuel oil inventories are depleting to critically low levels; either an imminent recession reduces consumption or prices are likely to surge higher. : Economic Times

Former Gazprom unit cuts LNG supplies to India

New Delhi : A former Gazprom unit has defaulted on supplying contractual LNG to India, prompting rationing of gas supplies to users like fertiliser plants in the country, state-owned GAIL (India) Ltd said on Thursday. : Economic Times

CNG, PNG prices go up again in Mumbai

Mumbai : In less than a month, city gas distributor Mahanagar Gas Ltd (MGL), has, for the second time, increased prices for compressed natural gas (CNG) by Rs 6 per kilogram and piped natural gas (PNG) by Rs 4 a unit. This is also the sixth price hike since April this year. : Economic Times

Oil prices extend losses on inflation, demand worries; hits 5-month low

New Delhi : Oil prices extended losses on Friday, after hitting their lowest since before Russia’s February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation on global economic growth and demand. : Business Standard

Equinor submits plans to develop major British North Sea oilfield

London : Norway’s Equinor on Thursday submitted to British regulators plans for the development of a major oilfield in the North Sea which is expected to start production in late 2026. : Economic Times

Crude oil futures gain on spot demand

New Delhi : Crude oil prices on Friday rose by Rs 51 to Rs 7,085 per barrel as participants widened positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for August delivery traded higher by Rs 51 or 0.73 per cent at Rs 7,085 per barrel in 10,203 lots. : Economic Times

Brazil’s Petrobras lowers diesel prices for 1st time in more than a year

New Delhi : Brazilian state-run oil company Petrobras said on Thursday it will reduce refinery gate diesel prices by 3.5 per cent starting Friday, the first price cut for the fuel in more than a year. : Economic Times

Piped cooking gas price hiked by Rs 2.63 per unit in Delhi NCR

New Delhi : The price of cooking gas piped to household kitchens in the national capital and adjoining cities was hiked by Rs 2.63 per unit on Friday, the second increase in rates in less than two weeks. : Economic Times

Russia undercuts Saudi oil in India as competition heats up

New Delhi : A fierce battle is brewing in India where Russia has undercut the price of oil from its OPEC+ ally Saudi Arabia, paving the way for Moscow to expand market share in one of the biggest crude importers. : Economic Times

Sarkaritel
By Sarkaritel August 6, 2022 06:44