MEDIA UPDATE (AUGUST 11, 2022)

Sarkaritel
By Sarkaritel August 11, 2022 06:32


11-Aug-2022

Power

NHPC reports 15% jump in Net Profit. Records highest ever Quarter-I Standalone Profit after Tax of Rs 1050 Crore

New Delhi : Riding on strong operating performance, NHPC Limited, India’s premier hydropower company has reported a 15% jump in Net profit. The Company has recorded the Highest ever Quarter-I Standalone Profit after Tax (PAT) of Rs 1050 Crore against PAT of Rs 912 Crore for the corresponding previous quarter. : Sarkaritel.com

Coal India Q1 results: Firm’s net profit soars 178% to Rs 8,834 cr

New Delhi : Coal India on Wednesday said its consolidated net profit shot up 178 per cent to Rs 8,834 crore for the first quarter of the 2022-23 fiscal on the back of higher sales. : Business Standard

NHPC profit rises 7% to Rs 1,053 cr in Q1 on account of higher revenues

New Delhi : State-run NHPC on Wednesday posted over 7 per cent increase in its consolidated net profit to Rs 1,053.76 crore in the June quarter on the back of higher revenues. : Business Standard

IIT-G, AICTE to develop solutions for water, electricity issues in NE region

New Delhi : Indian Institute of Technology (IIT), Guwahati, is partnering with the All India Council for Technical Education (AICTE) to develop solutions to problems of accessing water, electricity, and internet for the council-affiliated technical institutions in the North East region. : Economic Times

International Solar Alliance floats tender for 1150 MW solar project in Cuba

New Delhi : The International Solar Alliance (ISA) in partnership with the Cuban government has floated a tender for setting up a 1150 MW solar project in Cuba. State-owned NTPC is the project management consultant for ISA for setting up the project, an ISA statement said. : Economic Times

Wind turbine maker Vestas Q2 hit by higher costs

New Delhi : Wind turbine maker Vestas on Wednesday reported a bigger-than-expected second-quarter operating loss hit by higher costs. : Economic Times

Opinion: Indian solar manufacturers strategizing domestic growth

New Delhi : As India marches towards becoming the third-largest economy by 2030, there is also a pressing need to address climate change challenges to meet the sustainable development goals (SDGs). On the other hand, India’s plan to become a five trillion economy by 2030 will require a major boost in domestic production and lowering the import expenditures. : Economic Times

Indian companies swapping dollar for Asian currencies to buy Russian coal

New Delhi : Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow. : Economic Times

Solar power illuminates remote Tripura village after 80 years, brightens life

New Delhi : Lifestyle in remote tribal hamlet of Sarkhipara in Tripura’s Khowai district has gone a sea change as, after remaining in the dark for 80 years, it is now shining bright with the help of solar power. : Economic Times

More ambitious emissions reduction targets will help Indian fossil fuel giants such as NTPC, Tata Power: IEEFA

New Delhi : Global green capital presents a multi-billion-dollar opportunity for Indian power sector giants such as NTPC and Tata Power to fund their clean energy transitions. : Economic Times

Rays Power Infra commissions 150-MW grid-connected solar plant in Karnataka

New Delhi : Rays Power Infra, a Rajasthan-based solar developer, on Wednesday said it has commissioned a 150 megawatt (MW) grid-connected solar power plant in Raichur and Koppal, Karnataka. : Economic Times

Clean energy meets 50 per cent of Tamil Nadu’s demand

Chennai : For the third consecutive day, more than 50 per cent of power consumed in the state came from renewable sources including wind, solar, and hydro energy. : Economic Times

JSW Energy unit to buy renewable assets from Mytrah Energy for Rs 10,530 crore

New Delhi : JSW Neo Energy, a wholly owned subsidiary of JSW Energy will acquire a portfolio of 1,753 MW of Renewable Energy generation capacity from Mytrah Energy (India) Private Limited for Rs 10,530 crore, the company said today. : Economic Times

Assam looks to generate 2,000 MW solar power at investment of Rs 10,000 crore

Guwahati : Assam is looking to augment its solar power generation capacity by 2,000 MW at an investment of around Rs 10,000 crore within the next three-four years, Chief Minister Himanta Biswa Sarma said on Tuesday. : Economic Times

JSW Energy arm to buy Mytrah’s 1.75GW assets for ₹10,530 cr

Mumbai : JSW Energy Ltd on Wednesday said unit JSW Neo Energy has agreed to acquire solar and wind power assets totalling 1,753 megawatts (MW) from Mytrah Energy (India) Pvt. Ltd. : Mint

JSW Energy unit to buy Mytrah Energy’s renewable assets for Rs 10,530 cr

New Delhi : The Sajjan-Jindal-led JSW Energy on Wednesday said its arm JSW Neo Energy has agreed to buy Mytrah Energy’s 1.75-gigawatt (Gw) rene¬wable energy assets for Rs 10,530 crore in its largest deal, so far. : Business Standard

IREDA plans an Alternate Investment Fund to tap large institutional investors

New Delhi : The 35th Annual General Meeting (AGM) of the Indian Renewable Energy Development Agency Ltd. (IREDA), the PSU under the Ministry of New & Renewable Energy, was held today at India Habitat Centre, New Delhi. : psuconnect.in

Highest National Flag in Shimla Town hoisted at SJVN Corporate Office

New Delhi : Sh. Nand Lal Sharma, Chairman & Managing Director today hoisted 20 feet X 30 feet National Flag on 100 feet high motorised Mast Flag Pole at SJVN Corporate Headquarters at Shanan, Shimla. : psuconnect.in

Chicago Sets Sights On Acquiring 100% Renewable Energy By 2025

New Delhi : Chicago Sets Sights On Acquiring 100% Renewable Energy By 2025. : saurenergy.com

JNTUH, Hyderabad Floats 4 MW Solar Project Tender For O&M Work

New Delhi : JNTUH, Hyderabad Floats 4 MW Solar Project Tender For O&M Work. : saurenergy.com

DUAD Issues Tender for Supply Of Solar PV Power Project

New Delhi : DUAD Issues Tender for Supply Of Solar PV Power Project. : saurenergy.com

TotalEnergies To Place Rooftop Solar Panels Across Properties Of KCN Vietnam

New Delhi : TotalEnergies To Place Rooftop Solar Panels Across Properties Of KCN Vietnam. : saurenergy.com

Additional Surcharge for Open Access Power Consumers in Punjab Reduced to ₹1.10/kWh

New Delhi : Additional Surcharge for Open Access Power Consumers in Punjab Reduced to ₹1.10/kWh. : mercomindia.com

Project Finance Brief: Enfinity Global Raises $242 Million for Solar Projects in Japan

New Delhi : Project Finance Brief: Enfinity Global Raises $242 Million for Solar Projects in Japan. : mercomindia.com

Solar Tracker Provider Array Technologies’ Revenue Up by 63% in 1H 2022

New Delhi : Solar Tracker Provider Array Technologies’ Revenue Up by 63% in 1H 2022. : mercomindia.com

US renewables investors see Senate bill sparking gold rush

New York : For the first time, investors seeking to pour cash into US clean energy projects can count on at least a decade of generous federal subsidies, offering them long-sought confidence in the staying power of the world’s third biggest renewables market. : Economic Times

SJVN to set up 10,000 MW clean energy projects in Rajasthan

New Delhi : SJVN Ltd on Wednesday said the Rajasthan government has approved signing an MoU with the company for developing 10,000 MW renewable energy projects in the state entailing an investment of Rs 50,000 crore. : Economic Times

Tata Power ties up with JP Infra to set up EV charging points in Mumbai

New Delhi : Tata Power has partnered with real estate developer JP Infra Mumbai to provide electric vehicle (EV) charging points across its residential projects in Mumbai, the company said in a press release on Wednesday. : Economic Times

Implementing trade barriers not an effective way to develop global biz: Gaurav Mathur, India director, Trina Solar

New Delhi : Manufacturing of solar cells and modules in India is a positive development but for India to succeed it needs to create an industry that is internationally competitive, Gaurav Mathur, India director of the Chinese solar panel manufacturer, Trina Solar, tells ETEnergyWorld in an exclusive interview. : Economic Times

Takeover target Genex beefs up energy storage prospects

Melbourne : Australia’s Genex Power , which last week rejected a takeover offer, said on Tuesday it has agreed to acquire development rights to a large-scale battery and solar farm project it hopes to start building in late 2024. : Economic Times

US coal plants delay closures in hurdle for clean energy transition

New Delhi : Travel brochures in Sheboygan, Wisconsin, tout the town’s beaches on Lake Michigan as the Malibu of the Midwest. But pages of glossy photos leave out a feature of the landscape: a coal-fired power plant on the shore that will remain open until mid 2025 instead of closing this year as planned. : Economic Times

Vietnam needs $8 bln-$14 bln power investment a year through 2030: minister

New Delhi : Vietnam will need investment of between $8 billion and $14 billion a year through to 2030 to develop new power plants and expand its grid, its deputy industry minister said on Wednesday. : Economic Times

With 30k Sqm Of Roof Space, RRTS To Make Hay While The Sun Shines

New Delhi : With a total roof area of more than 15,000 square metres, the Sarai Kale Khan mega terminal of the upcoming Delhi-Meerut Regional Rapid Transit System (RRTS) corridor will also see its largest rooftop solar installation. With similar panels at its other stations and train depots, the 82-km-long RRTS corridor is expected to generate 10 megawatt (MW) of renewable energy. : Economic Times

Godawari Power & Ispat begins commercial operations at 70 MW captive solar plant in Chhattisgarh

New Delhi : Godawari Power & Ispat Ltd (GPIL) on Tuesday said its 70 MW captive solar power plant in Chhattisgarh has commenced commercial operations. The plant began commercial operations on Saturday, GPIL said in a regulatory filing. : Economic Times

India to start supplying petrol with 20% ethanol from April 2023

New Delhi : India will start supplying petrol with 20 per cent ethanol at select petrol pumps from April next year and will ramp up supplies thereafter as it looks to cut oil import dependence and address environmental issues. : Economic Times

Floating solar projects may get sops under new policy

New Delhi : The government is working on a policy on floating solar power generation, offering higher incentives to companies willing to invest in plants requiring a power generation technology that is expensive, two people in the know said. The move is expected to further boost India’s renewable energy capacity, they added. : Mint

Floating solar projects may get sops under new policy

New Delhi : The government is working on a policy on floating solar power generation, offering higher incentives to companies willing to invest in plants requiring a power generation technology that is expensive, two people in the know said. : Mint

Suzlon Energy’s net profit jumps multi-fold to Rs 2,432 cr in June quarter

New Delhi : Suzlon Energy posted a multi-fold rise in its net profit to Rs 2,432.55 crore in the June quarter compared to the year-ago period, helped by exceptional gains. : Business Standard

Tata Power to set up EV charging points across JP Infra’s residential projects

Mumbai : In alignment with the Maharashtra Government’s EV Policy, Tata Power, a leading EV infrastructure solutions provider, and JP Infra Mumbai Private Limited (‘JP Infra’), one of the prominent real estate developers in Mumbai, have joined hands to install 60+ electric vehicle charging points across all JP Infra’s projects viz. : psuconnect.in

IREDA Q1 Results: PBT rises 72% to rs. 340 cr

New Delhi : Indian Renewable Energy Development Agency (IREDA), a PSU under the Ministry of New & Renewable Energy (MNRE), today announced audited financial results for the first quarter ended June 30, 2022. : psuconnect.in

Rajasthan Govt approves MoU with SJVN for developing renewable energy projects

New Delhi : Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN informed that in a landmark development, the Government of Rajasthan has accorded approval for the signing of an MOU with SJVN for developing 10,000 MW renewable energy projects/parks in the state of Rajasthan. : psuconnect.in

GPIL Announces Commissioning Of 70 MWp Solar Plant In Chhattisgarh

New Delhi : GPIL Announces Commissioning Of 70 MWp Solar Plant In Chhattisgarh. : saurenergy.com

Rays Power Commissions 150 MW Solar Plant In Karnataka

New Delhi : Rays Power Commissions 150 MW Solar Plant In Karnataka. : saurenergy.com

Exus Purchases 1GW Solar Power Project In Brazil

New Delhi : Exus Purchases 1GW Solar Power Project In Brazil. : saurenergy.com

Direct Benefit Transfer: State Saves 33 MU of Power in Agriculture Sector

New Delhi : Direct Benefit Transfer: State Saves 33 MU of Power in Agriculture Sector. : saurenergy.com

Solar Tracking Systems Company FTC Solar’s Loss Reduces to $25.62 Million in Q2 2022

New Delhi : Solar Tracking Systems Company FTC Solar’s Loss Reduces to $25.62 Million in Q2 2022. : mercomindia.com

GIB Issue: Undergrounding 66 kV Transmission Lines for Power Evacuation Not Feasible

New Delhi : GIB Issue: Undergrounding 66 kV Transmission Lines for Power Evacuation Not Feasible. : mercomindia.com

25 State Power Utilities Downgraded in Annual DISCOM Ratings

New Delhi : 25 State Power Utilities Downgraded in Annual DISCOM Ratings. : mercomindia.com

Bhopal Municipal Corporation Issues Tender for 21 MW of Solar Projects

New Delhi : Bhopal Municipal Corporation Issues Tender for 21 MW of Solar Projects. : mercomindia.com


Oil and Gas

Oil India Records 206% Increase in PAT during Q1FY23 over Q1FY22

Noida : Oil India Board in its 535th Board Meeting held on 10th August’2022 approved the Q1 FY 2022-23 results. Details of Q1 FY 2022-23 results. Oil India Limited (OIL) has reported 206% increase in Profit After Tax (PAT) during Q1FY23 at Rs.1,555.49 crore from Rs.507.94 crore in Q1FY22. : Sarkaritel.com

” Panipat : On the occasion of World Biofuel Day, Prime Minister Narendra Modi dedicated the 2nd generation (2G) Ethanol Plant in Panipat, Haryana to the nation today via video conferencing. Governor of Haryana, Bandaru Dattatreya, Union Ministers, Narendra Singh Tomar, Hardeep Singh Puri, Rameswar Teli, were among those present on the occasion.” : Sarkaritel.com

” New Delhi : This year World Biofuel Day – 2022 is being celebrated with theme of “Biofuels towards a Carbon NeutralWorld”. The theme shows India’s commitment towards five nectar elements, Panchamrit, to deal with the climate change.” : Sarkaritel.com

IGL margins will be less due to higher spot gas prices, but we hope to be profitable this FY: MD

New Delhi : When the commodity cycle cools down in the next nine months, we will be able to capitalise on the market and give our investors a better return to grow again at the same rate that we had been growing for the last 10-12 years,” says Sanjay Kumar, MD, Indraprastha Gas Ltd. : Economic Times

IndianOil’s 2G Ethanol Plant is all set to catalyse India’s greener journey

New Delhi : Indian Oil Corporation’s 2nd Generation Ethanol Plant is all set to catalyse India’s journey towards a greener. Prime Minister Shri Narendra Modi is going to dedicate this pathbreaking plant to the nation at Panipat, today. : psuconnect.in

Stung By Gas Volatility, GAIL Plans Bigger Clean Energy Footprint

New Delhi : Stung By Gas Volatility, GAIL Plans Bigger Clean Energy Footprint. : saurenergy.com

LNG traders absorb huge losses after supply outages

New Delhi : Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season. : Economic Times

Oil drops on Druzhba pipeline news and US inflation expectations

London : Oil prices edged lower on Wednesday on expectations that Druzhba pipeline flows will resume shortly and demand concerns ahead of publication of key demand indicators. : Economic Times

IIT (ISM) to set up coal gasification plant: Dir

Dhanbad : IIT (ISM), Dhanbad is planning a two-tonne per day coal gasifier in the gasification plant that it would set up at its Nirsa campus to extract carbon monoxide and hydrogen from coal for utilisation as fuel. : Economic Times

Turkey sends off new drill ship into eastern Mediterranean

Istanbul, Turkey : Turkey’s president inaugurated the country’s newest and largest undersea hydrocarbon drill ship Tuesday that he said would head for a spot northwest of Cyprus in the eastern Mediterranean, which is not claimed by any other country. : Economic Times

Oil slips as US crude stockpiles rise

New Delhi : Oil prices eased on Wednesday after industry data showed US crude inventories unexpectedly rose last week, signaling a potential hiccup in demand, though concerns over supply kept losses in check. : Economic Times

PM Modi to dedicate to nation 2G ethanol plant in Panipat

Chandigarh : Prime Minister Narendra Modi on Wednesday will dedicate to the nation a second generation (2G) ethanol plant built at an estimated cost of Rs 900 crore in Haryana’s Panipat via video conferencing. : Economic Times

Rishi Sunak promises more support in UK energy crisis

London : Former Chancellor Rishi Sunak on Tuesday promised to provide more money to help people cope with soaring household energy bills if he is elected Britain’s Prime Minister next month. : Economic Times

Kistos walks away from bid to acquire North Sea’s Serica Energy

London : North Sea investment firm Kistos on Tuesday walked away from its proposed offer to acquire British oil and gas group Serica Energy following weeks of wrangling. : Economic Times

Govt diverts gas from industries to city gas to moderate CNG, piped cooking gas rates

New Delhi : City gas companies will now get only domestic gas, and not imported liquefied natural gas (LNG) that they had been receiving as part of the government’s gas pooling policy for the past three months, according to people familiar with the matter. : Economic Times

House panel suggests creation of mechanisms for boosting gas pipeline infra

New Delhi : The parliamentary standing committee on petroleum and natural gas has suggested that the Union government create a project monitoring mechanism with relevant stakeholders for time-bound completion of gas pipeline infrastructure. : Mint

Oil slips as US crude stockpiles rise, eyes on US inflation data

New Delhi : Oil prices fell on Wednesday ahead of a key US report on inflation and after industry data showed US crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. : Economic Times

Crude oil futures decline on low demand

New Delhi : Crude oil futures on Wednesday declined 0.94 per cent to Rs 7,156 per barrel as participants trimmed their positions on low demand. : Economic Times

German chemical industry hit by soaring gas prices: ifo

Berlin, Germany : Germany’s chemical industry has been hit hard by soaring gas prices, according to a survey. According to the report by the Munich-based ifo Institute for Economic Research published on Tuesday, the Russia-Ukraine conflict has “further exacerbated the tense situation in the industry”. : Economic Times

Price freeze on petrol, diesel, LPG to hit profitability of IOC, BPCL, HPCL: Report

New Delhi : The freeze on petrol, diesel and LPG price revision despite rising cost will hit profitability of state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) this fiscal, Fitch Ratings said on Wednesday. : Economic Times

In Norway, old oil platforms get a second life

New Delhi : At an industrial yard in southwestern Norway, decommissioned oil platforms are slowly being dismantled for a second life in the circular economy. : Economic Times

Centrica signs $8.5 bln LNG deal with US supplier

New Delhi : Centrica Plc has signed a 7 billion pound ($8.47 billion) agreement with US-based Delfin Midstream Inc to buy liquefied natural gas (LNG) from 2026, Britain’s largest energy supplier said on Tuesday. : Economic Times

Russia curtails oil shipments to central Europe

New Delhi : Several countries in Europe dependent on Russian energy suffered another blow with confirmation Tuesday that oil shipments have stopped through a critical pipeline. : Economic Times

Warren Buffett’s company has bet over $45 billion on oil sector

New Delhi : Warren Buffett’s company has bought up more than $11 billion worth of Occidental Petroleum stock this year, giving Berkshire Hathaway control of more than 20 per centof the oil producer. : Economic Times

Hezbollah says ready for all options to protect Lebanon’s oil, gas

New Delhi : Hezbollah leader Sayyed Hassan Nasrallah has warned Israel against making any miscalculations toward Lebanon, stressing that the Lebanese party will spare no efforts to protect Lebanon’s oil and gas. : Economic Times

CUGL to stop gas supply to those who have not cleared dues

Kanpur : Central UP Gas Limited (CUGL), the company which supplies Piped Natural Gas (PNG) to houses in the city has launched a drive to stop gas supply to the houses which have not cleared their dues. : Economic Times

India’s trade gap with UAE widens as oil imports rise

Bengaluru : India’s trade gap with the United Arab Emirates ballooned fourfold in the May-June period, the first two months since the India-UAE free trade agreement came into effect, driven by a jump in oil and gold imports. : Mint

Oil prices fall as US stockpiles rise

New Delhi : Crude oil prices fell on Wednesday after data released showed an unexpected build-up US inventories, highlighting demand concerns. According to data from American Petroleum Institute, US crude stockpiles rose by about 2.2 million barrels in the week ended 5 August. : Mint

India advances target to supply petrol with 20% ethanol to 2025

Panipat : Oil Minister Hardeep Singh Puri, in the inaugural event of second-generation ethanol plan, set up in the Panipat Refinery and Petrochemical Complex (PRPC) by Indian Oil Corporation Limited (IOCL) stated that by April next year, India will start supplying petrol with 20 per cent ethanol at selected petrol pumps. : Mint

Ethanol plants to generate green jobs, raise farmer income: PM Modi

New Delhi : Prime Minister Narendra Modi on Wednesday said that the new second generation (2G) ethanol plant by Indian Oil Corporation (IOC) in Haryana’s Panipat will reduce pollution due to stubble burning in Delhi, National Capital Region (NCR) and Haryana. : Business Standard

Oil prices slip as US crude stockpiles rise, eyes on US inflation data

New Delhi : Oil prices fell on Wednesday ahead of a key U.S. report on inflation and after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. : Business Standard

Petrol, diesel rates at different towns in Odisha on August 11

Bhubaneswar : The prices of petrol and diesel have been considerably steady in Odisha and other parts of the country. Fuel prices, especially of petrol and diesel, are very sensitive to global crude prices. : odishatv.in

Rs 50,000 cr forex saved by blending ethanol with petrol in 7-8 years: PM

Panipat : Prime Minister Narendra Modi on Wednesday said the country saved Rs 50,000 crore in foreign exchange by blending ethanol with petrol in the last seven-eight years. : newsbarons.com

Hydrogen Fuel Cell Company Plug Power’s Revenue Rises 21% YoY in Q2 2022

New Delhi : Hydrogen Fuel Cell Company Plug Power’s Revenue Rises 21% YoY in Q2 2022. : mercomindia.com

Fuel prices today: Check the prices of petrol, diesel in your city

New Delhi : Oil prices showed a downward trend as US crude inventories exhibited an unforeseen growth last week, implying a lower demand. Though there had been ups and downs in global oil prices, US crude stocks are showing an upward trend as they increased by 2.2 million barrels for the week of August 5. Experts expected a 400,000-barrel drop in crude oil. : Business Standard

Oil prices see-saw, settle on Russian pipeline constraints, recession fear

New Delhi : Oil prices settled slightly lower on Tuesday after a see-saw session as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine. : Business Standard

Govt diverts gas from industries to IGL, MGL to balance CNG, cooking gas rates

New Delhi : The Central government will be diverting some of the natural gas from industries to city gas operators like Indraprastha Gas Ltd in Delhi and Mahanagar Gas Ltd of Mumbai to check the spiralling CNG and piped cooking gas prices. : Mint

How the crude oil price collapse will impact India. 5 Points…

New Delhi : Indian share markets are recovering. Fundamentally strong stocks have started to rise after a prolonged break. It appears that the stock market recovery is here to stay. : Mint

Sarkaritel
By Sarkaritel August 11, 2022 06:32