MEDIA UPDATE (January 02, 2023)

By Sarkaritel January 2, 2023 06:33



REC limited to provide financial aid of around Rs 10 cr to ALIMCO

New Delhi : REC has decided to provide financial aid of around ?10 crores to ALIMCO under its CSR obligations for ‘aid & distribution of accessories’ to disabled people. For this cooperation and distribution of accessories, a camp was organized in Mana camp in Raipur. :

IEX gets shareholders’ nod to buy back shares worth up to Rs 98 cr

New Delhi : Indian Energy Exchange (IEX) has got shareholders’ approval through postal ballot to buy back shares worth up to Rs 98 crore. The proposal to buy back shares worth up to Rs 98 crore approved by requisite majority through postal ballot, showed a BSE filing. : Economic Times

Costlier electricity bills to affect 24 lakh consumers

Raipur : Consumers will have to pay an extra 49 paise per unit for electricity as Chhattisgarh State Power Distribution Company Limited (CSPDCL) has affected an increase in the variable cost adjustment (VCA) to Rs 1.10 per unit for the next two months. : Economic Times

Odisha Govt approves industrial projects worth Rs 4,183 crore

Bhubaneswar : State Level Single Window Clearance Authority (SLSWCA) headed by Chief Secretary of Odisha, Suresh Chandra Mahapatra on Saturday approved 16 industrial projects worth Rs 4,183 crores. : Economic Times

Dinesh Kumar Shukla takes over charge as Chairman of AERB

New Delhi : Dinesh Kumar Shukla, the former Executive Director of Atomic Energy Regulatory Board (AERB) and distinguished scientist on Saturday assumed charge as the new AERB Chairman. He has been appointed for a period of three years. : Economic Times

Smart meters await state government nod in Bengaluru: BESCOM

New Delhi : Smart meter has prepaid usage option, reduces excess energy consumption; no defaulter hassle. Even after big fanfare about smart meters, the rollout has not started yet in Bengaluru. According to Bangalore Electricity Supply Company (BESCOM), the smart meters proposal is yet to be approved by the state government. : Economic Times

Power deficit rises slightly to 0.6 pc in Apr-Nov; demand surges around 11 pc

New Delhi : Power deficit in the country rose slightly to 0.6 per cent in April-November this fiscal year, while electricity demand has witnessed around 11 per cent jump in the said period, indicating buoyancy in the economy. : Economic Times

India’s electricity consumption grows 11 pc to 121.19 billion units in December

New Delhi : India’s power consumption logged a double-digit growth of over 11 per cent to 121.19 billion units in December 2022 compared to the year-ago period, according to government data. The robust growth of power consumption indicates sustained momentum of economic activities in December. : Economic Times

Ban on Delhi factories using coal, unapproved fuels comes into force

New Delhi : In Delhi-NCR, the use of coal and other unapproved fuels in industries and other commercial establishments is banned from today, Sunday, said officials adding that defaulting units will be closed down without any warning, according to the news agency PTI. : Mint

India’s coal production expected at 997 million tonnes in FY’24

New Delhi : The country is expected to produce 997.14 million tonnes (MT) of coal in the coming financial year. Of the projected figure, state-owed CIL’s output is likely to be 760 MT, followed by Singareni Collieries Company Ltd (SCCL) at 75 MT, and captive and others at 162.14 MT, according to government data. : Business Standard

Investment worth Rs 73,000 crore brought to Andhra in 3 years: Minister

New Delhi : Visakhapatnam: Highlighting Andhra Pradesh as a favoured destination for investment, state Industries Minister Gudivada Amarnath on Friday said investment worth Rs 73,000 crore has been brought in the state in the last three years. : Economic Times

Three trends will fuel India’s renewable energy in the decade to come

New Delhi : India’s power sector looks set for a bright future. Our country has the world’s third largest renewable energy capacity, having already met the 2030 target of achieving 40% of electricity-generation capacity from non-fossil fuel sources. By 2026-27, our country’s power-generation installed capacity is likely to be close to 620 GW, of which 38% will be from coal and 44% from renewable energy sources. : Economic Times

Outlook 2023: Renewable energy, infra, financials, cement stocks to hog limelight

Mumbai : The year 2022 had seen the indices scaling the highest record as well as volatility as the central banks of many economies raised their key policy rates in order to control the rising inflation in their respective countries. The Reserve Bank of India is also slowly hiking key policy rates to rein in inflation in the country. : Economic Times

Tesla Megapack to achieve sustainable energy future for Earth: Musk

New Delhi : Elon Musk on Saturday said Tesla Megapack (battery storage product) will make a huge difference to achieving a sustainable energy future for the planet. : Economic Times

The future of renewable energy in 2023 and expectations from Union Budget 2023

New Delhi : With ambitious goals, visionary initiatives and strategies, India has rapidly accelerated the renewable energy generation endeavours in the last few years. In 2022, the government aggressively pushed the production of renewable energy, manufacturing of solar equipment, and energy storage facility to achieve its 500 GW renewable energy generation target by 2030. : Economic Times

Ather Energy appoints Pranesh Urs as Vice President – Marketing

New Delhi : Ather Energy has appointed Pranesh Urs as vice president of marketing. Urs made the announcement on Linkedin. Urs has previously been the director of marketing at Samsung Electronics for six years where he was lead marketing for smartphones and e-commerce. : Economic Times

Adani Electricity starts procuring 1,500 MW power

Mumbai : Adani Electricity, which caters to 31 lakh power consumers in suburbs, on Friday announced that it has commenced the process to procure 1,500 MW power of which a minimum 51% will come from renewable energy sources. : Economic Times

Adani Power extends timeline to complete acquisition of DB Power till January 15

New Delhi : Adani Power on Saturday said the timeline for the completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended till January 15, 2023. : Economic Times

Torrent Power in talks with ReNew to buy 1.1GW clean energy capacity

New Delhi : Torrent Power Ltd is in talks to buy clean power projects totalling 1.1 gigawatts (GW) from ReNew Energy Global Plc at an enterprise value of around $1.2 billion, two people aware of the development said. : Mint

Lanco Amarkantak resolution voting extended till Jan 7 with Adani, RIL, PFC-REC in fray

New Delhi : The resolution professional at Lanco Amarkantak Power has extended the voting deadline until January 7 after some lenders said they needed more time to decide on the purchase offers from interested buyers that include two of India’s biggest conglomerates – the Adani Group and Reliance Industries. : Economic Times

Oil and Gas

Prices of commercial gas cylinders hiked by Rs 25

New Delhi : India’s oil marketing companies (OMCs) have started off the year with a price increase, raising the rate of commercial liquid petroleum gas (LPG) cylinders by Rs 25. : Economic Times

Petrol, diesel sales surge in December as economy picks up momentum

New Delhi : India’s petrol and diesel demand soared in December as increased consumption in agriculture sector helped build on the momentum generated by the festive season, preliminary industry data showed on Sunday. Petrol sales soared 8.6 per cent to 2.76 million tonnes in December, as compared to 2.54 million tonnes of consumption in the same month last year. : Economic Times

Crude oil futures gain on spot demand

New Delhi : Crude oil prices on Friday rose by Rs 55 to Rs 6,528 per barrel in futures trade as participants increased their positions following a firm spot demand. On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 55 or 0.85 per cent at Rs 6,528 per barrel in 5,929 lots. : Economic Times

India to take up affordability & accessibility to energy, foodgrains issue at G20: Jaishankar

New Delhi : External Affairs Minister S Jaishankar on Friday underlined that during its G20 presidency, India intends to take up the issue of affordability and accessibility to energy, foodgrains and fertilisers “very strongly” as the economies of the Global South have been impacted. : Economic Times

Crude oil set to end turbulent 2022 with second annual gain

London : Oil was on track for a second straight annual gain in a volatile year marked by tight supplies because of the Ukraine war and weakening demand from the world’s top crude importer, China. : Economic Times

Ethanol unit to come up in Mysugar factory next year: Karnataka CM Bommai

New Delhi : With the aim to benefit farmers, an ethanol unit will be established at Mysugar factory in Mandya next year, said Karnataka Chief Minister Basavaraj Bommai on Friday. : Business Standard

Railways rolls out energy efficiency plan to meet 2030 net-zero target

New Delhi : The railways ministry has rolled out a five-pronged energy efficiency plan to become carbon-neutral by 2030. The ministry is looking to reduce overall energy use with efficient operations and increase renewable energy usage. : Business Standard

U.S. drillers add oil and gas rigs for second year in a row – Baker Hughes

New Delhi : U.S. energy firms added oil and gas rigs for a second year in a row for the first time since 2018, energy services firm Baker Hughes Co said in its report on Friday. : Economic Times

Petrol, diesel prices today January 1: Check rates in Delhi, Mumbai, Bengaluru, Chennai and Kolkata

New Delhi : On January 1, 2023, petrol and diesel prices in India have mostly remained unchanged, and prices have remained stable for the past seven months. : Mint

Oil ends year of wild price swings with second straight annual gain

New Delhi : Oil prices swung wildly in 2022, climbing on tight supplies amid the war in Ukraine, then sliding on weaker demand from top importer China and worries of an economic contraction, but closed the year on Friday with a second straight annual gain. : Business Standard

Assam CM flags off 100 CNG buses, inaugurates 1st green fuel station

New Delhi : Assam Chief Minister Himanta Biswa Sarma on Sunday flagged off 100 new CNG-run buses, as part of the Smart City Mission. He also inaugurated the city’s first CNG fuel station. : Business Standard

Russia’s domination over Indian crude market will continue in 2023: Experts

New Delhi : Russia steamrolled rivals Saudi Arabia and Iraq to dominate India’s crude oil basket for the fourth consecutive month in December, maintaining its grip on the world’s fastest growing major market for fuels. Russian oil will continue to power Indian vehicles and homes in January, according to data from western commodity analytics firms and Indian customs. : Business Standard

Petrol, diesel sales surge in Dec as economy picks up momentum, shows data

New Delhi : India’s petrol and diesel demand soared in December as increased consumption in agriculture sector helped build on the momentum generated by the festive season, preliminary industry data showed on Sunday. : Business Standard

By Sarkaritel January 2, 2023 06:33