MEDIA UPDATE (May 20, 2022)

By Sarkaritel May 20, 2022 06:41


Vivek Kumar Dewangan (IAS,MN..1993) took charge as CMD of REC Limited. Speaking on the occasion, Dewangan said “REC is a corporation of national importance and has always been and shall continue to be the Government’s biggest partner in achieving India’s national and international goals. On the business front, there is a need to diversify further into green and sustainable technologies, as well as, newer geographies.”


Four EU states sign declaration to provide 230mn households with green electricity

New Delhi : The Heads of government of Denmark, Germany, Belgium and the Netherlands signed a joint declaration at the North Sea Summit in Esbjerg, western Denmark, that aims to transform the North Sea into Europe’s green powerhouse by 2050. :

PFC organizes awareness program for employees

New Delhi : Power Finance Corporation Limited (PFC) organized an awareness program on maintaining cleanliness for its sanitation/contractual staff members on May 18, 2022, at Shram Shakti Bhawan, Rafi Marg, New Delhi. :

Coal supply to Maharashtra’s thermal power plants up to 1.4 lakh tonne

Nashik : Maharashtra State Power Generation Company (Mahagenco) has been able to enhance coal backup at five of its thermal power stations (TPS) with supply of the commodity to the state improving. : Economic Times

Tata Power DDL conferred with ICC Award for Corporate Governance

New Delhi : Tata Power Delhi Distribution Limited, a pioneering power utility supplying electricity to a populace of over 7 million in North Delhi, has been recognised with a prestigious award for its excellent performance in the area of Corporate Governance during the India Corporate Governance & Sustainability Vision Summit & Awards 2022 organized by the Indian Chamber of Commerce (ICC). :

GMR Power and Urban suffers Rs 274 cr loss in Q4

New Delhi : GMR Power and Urban Infra Limited on Wednesday said its consolidated loss after tax for the quarter ended March 31 was Rs 272.48 crore as against Rs 998.34 crore loss during the same quarter last fiscal. : Economic Times

IRENA executive sees India influencing world on renewable energy during G20 presidency

New Delhi : India will have significant opportunities to share its renewable energy policies, expertise, experiences and products with developing countries, driving international cooperation on the energy transition during its upcoming G20 presidency, a senior executive of the International Renewable Energy Agency (IRENA) said here. : Economic Times

Waaree Energies bags orders worth $2.37 billion for solar panels

New Delhi : Waaree Energies, a Mumbai-based solar module manufacturer, on Thursday said it has bagged new orders worth $2.37 billion from domestic and international markets to supply bifacial solar panels. : Economic Times

India’s power grid creaks under hybrid work model, heatwave

New Delhi : Indians are cranking up air conditioning as they still work from home, while lights come back on in offices and factories with an end to COVID curbs, upending power demand patterns amid a heatwave and the country’s worst blackouts in years. : Economic Times

Haryana buys power at cheaper prices from national grid

Chandigarh : Rain in Karnataka region and parts of north India has put the electricity distribution companies at ease and given both domestic and industrial consumers a relief from long power cuts. : Economic Times

Joint inspections of pollution hotspots near Khaperkheda power plant

Nagpur : The first meeting of newly formed environment surveillance committee of Khaperkheda coal-fired power plant saw a consensus for joint inspections of pollution hot-spots following some discords. : Economic Times

Public sector entities get power to close, divest units

New Delhi : The union cabinet on Wednesday approved a decision to provide more autonomy to public sector entities (PSEs) by empowering their boards to decide on the closure and divestment of units or subsidiaries. : Economic Times

Subsidy hike, easing policy norms to push solar power in Delhi

New Delhi : Aiming to incentivise installation of solar energy panels, which has seen few takers in the city so far, the Delhi government is likely to increase the subsidy and ease norms to make it more lucrative for residents. : Economic Times

Order on coal import unfair, says AIPEF

Lucknow : The All India Power Engineers Federation (AIPEF) has termed the Wednesday directive issued by the central government to import coal as an attempt to put undue pressure on the states. : Economic Times

Renewable energy key to Assam’s zero emission target by ’70

Guwahati : Assam’s road to achieving net zero emission target needs massive augmentation in harnessing power from renewable sources of energy, said experts at the Round Table Session: Net Zero Emission by 2070- Assam State Agenda held in Guwahati on Wednesday. : Economic Times

Power Minister urges states to direct utilities to clear dues to gencos, coal firms

New Delhi : The Ministry of Power has urged certain states, including Uttar Pradesh, Tamil Nadu and Maharashtra, to direct their utilities to clear total outstanding dues towards generating firms (gencos) and coal companies as failing to do so might affect electricity supply. : Economic Times

Import coal in time or face penalty: govt to power generation firms

New Delhi : As part of its efforts to contain power crisis in the country triggered by unusual heat conditions and a sudden spike in demand, the Power Ministry has issued directions to all generation companies (Gencos). : Mint

Solar PV module manufacturer Waaree Energies bags orders worth $2.37 bn

New Delhi : Domestic solar PV module manufacturer Waaree Energies on Thursday said it has secured new orders worth USD 2.37 billion from customers in the domestic and international markets. : Business Standard

Reasons Behind India’s Worst Power Crisis

New Delhi : India is currently in one of the major power crisis, struggling in the middle of a heatwave, demanding more supply and production of power to come back on the track. :

ECIL Launched PLC and SCADA software

New Delhi : Electronics Corporation of India Limited (ECIL) Hyderabad, a Public Sector Unit under Dept. of Atomic Energy today launched the indigenous state of the art Programmable Logic Controller (PLC) and Supervisory Control and Data Acquisition (SCADA) software for process automation systems at a function. :

Magenta And Ather Energy Join Hands To Install EV Charging Stations

New Delhi : EV charging firm Magenta ChargeGrid and Ather Energy, leading electric two-wheeler maker, have joined hands to install charging stations, investing the former with the responsibility to manage the charging stations under the Chargegrid platform. :

Jakson Group CMD Sameer Gupta Is Chairman CII National Committee For RE Mfg. – 2022-2023

New Delhi : Jakson Group’s Chairman and Managing Director, Sameer Gupta has been elected as Chairman, CII National Committee of Aatmanirbhar Bharat for Renewable Energy Manufacturing for the year 2022-2023. :

PVEL Scorecard 2022 Confirms Improving Quality, Performance From Top Manufacturers

New Delhi : PV Module Reliability Scorecard 2022 is out. 25 manufacturers have made it to the list. 3 India based manufacturers, Adani Solar, Vikram Solar and Waaree Solar make it to the list, although only Adani Solar seems to have performed creditably across all parameters. :

Air Liquide, Shell Sign 10-Year Agreement for Renewable Electricity in Italy

New Delhi : Air Liquide has announced that it has signed a ten-year contract with Shell Energy Europe Limited for the purchase of renewable energy to power industrial and medical gas production operations in the North East of Italy. :

KKR buying RE firm ContourGlobal for £1.75 billion

New Delhi : Leading investment firm Kohlberg Kravis Roberts & Co (KKR) has announced that it is buying ContourGlobal, a renewable energy company. The deal is for £1.75 billion. According to KKR. :

Telangana Sets Renewable Power Purchase Obligation Targets for FY23 to FY27

New Delhi : The Telangana State Electricity Regulatory Commission (TSERC) has issued the ‘Renewable Power Purchase Obligation Regulations, 2022. :

India Needs Just 14 GW to Meet the 60 GW Large-Scale Solar Target by 2022

New Delhi : India has installed 45.6 GW of utility-scale solar capacity to date, 14.4 GW shy of meeting the government-set target of installing 60 GW by 2022, according to Mercom’s India Solar Project Tracker. :

Daily News Wrap-Up: Greenko Begins Construction of its 5 GW Renewable Energy Storage Project

New Delhi : Greenko Group has started the construction of its 5.23 GW Integrated Renewable Energy Storage Project in Kurnool District, Andhra Pradesh. The company claimed that this would be a single-location energy storage project with wind and solar capacities. :

KKR to Acquire Power Producer ContourGlobal for £1.75 Billion

New Delhi : U.S-based equity firm Kohlberg Kravis Roberts (KKR) has signed an agreement to acquire the British power generation company ContourGlobal for approximately £1.75 billion (~$2.18 billion). :

EU Proposes Mandatory Rooftop Solar for All New Buildings in Member States

New Delhi : The European Commission presented the REPowerEU Plan proposal detailing its strategy to respond to the hardships and global energy market disruption caused by Russia’s invasion of Ukraine. :

Vivek Kumar Dewangan takes charge as CMD of REC Ltd

New Delhi : Vivek Kumar Dewangan, a 1993 batch Indian Administrative Service Officer of Manipur Cadre, took charge as Chairman and Managing Director of Rural Electrification Corporation (REC) Ltd on 17 May, 2022, according to the official press release. : Economic Times

Odisha govt to bring back 871 acres of land allotted to Tata Power

New Delhi : The Odisha government has decided to bring back 871 acres of land allotted to Tata Power to set up a coal-based thermal power plant in Cuttack district. The Odisha cabinet headed by Chief Minister Naveen Patnaik on Wednesday approved a proposal for this purpose. :

Vivek Kumar Dewangan takes charge as CMD of REC

New Delhi : Vivek Kumar Dewangan has taken charge as the Chairman & Managing Director of state-run REC Limited. Dewangan was serving as additional secretary in the union ministry of power prior to his appointment as the REC CMD. : Mint

Industry players to discuss energy reduction cost measures next month

New Delhi : Over 150 players from various sectors including solar, steel and cement will meet next month in Bengaluru to discuss opportunities in the domestic renewable energy sector and ways to reduce their energy costs. : Economic Times

CERC Allows Petition Of Karur Transmission Ltd

New Delhi : The Central Electricity Regulatory Commission (CERC) allowed on May 17 the petition of Karur Transmission Ltd that the transmission charges for the project should be adopted because it was selected through a competitive bidding process. :

OKINAWA Autotech signs JV agreement with Italian TACITA to manufacture E-bikes

New Delhi : Electric bikes manufacturer OKINAWA Autotech announced it has signed an agreement with Italian firm TACITA to form a joint venture (JV) to produce electric scooters and motocycles in India. : Economic Times

Explainer: Why is India facing its worst power crisis in over six years?

New Delhi : India is facing its worst power crisis in over six years as a heatwave bakes vast swathes of South Asia, causing widespread power outages. : Economic Times

Mahindra to partner Volkswagen for electric vehicles

New Delhi : In a surprise announcement, the world’s second largest carmaker Volkswagen and India’s Mahindra and Mahindra said that they have signed an agreement to study the feasibility of using the German company’s components in the latter’s electric vehicles. : Economic Times

Delhi govt likely to flag off nearly 100 electric buses next week: Officials

New Delhi : Nearly 100 electric buses will soon roll down the city roads with the Delhi government likely to flag them off next week, officials said on Wednesday. The government has received a batch of over 100 electric buses, they said. : Economic Times

Restrictions on power supply to industries in AP lifted

New Delhi : Andhra Pradesh government on Wednesday lifted all restrictions on power supply to industries, allowing them to run to 100 per cent capacity, as the demand-supply position has eased significantly. : Economic Times

UT reviews report of power dept privatisation

Chandigarh : The UT administration reviewed the progress report of the power department privatisation process and the ongoing case in Punjab and Haryana High Court. : Economic Times

Chhattisgarh CM defends Parsa coal mining; says country needs coal to generate power

Raipur : Amidst mounting protests from environmental and tribal groups against mining operations in the Hasdeo Aranya region, Chhattisgarh chief minister Bhupesh Baghel on Wednesday defended the move saying that the coal is required to meet the country’s energy requirement but rules of forest and environment should not be violated and affected people should get adequate compensation. : Economic Times

Power Minister tells states to build up coal stocks for monsoon

New Delhi : Union Power Minister R.K. Singh has written to various states asking them to direct state gencos to take immediate steps to import coal for blending in order to meet their requirement during the monsoon season. : Economic Times

Coal import target to be hiked to 15 per cent for ‘erring’ power companies

New Delhi : The power ministry said on Wednesday that it would increase the coal import target to 15 per cent for power generating plants that were not following its directive to meet 10 per cent of their fuel requirement with imported coal. : Economic Times

No coal shortage, states need to plug mismatch between power demand and fuel supply snags: RK Singh

New Delhi : Power minister R K Singh insists that there is no coal shortage and states need to import coal to plug the mismatch between rise in electricity demand and fuel supply snags caused by spike in global prices. In an interview, he tells TOI that generation companies have been asked to buy rakes to meet the shortfall from railways. : Economic Times

Coal stock norms likely to be revised amid power crisis

New Delhi : The government is likely to lower the minimum coal stock requirements for power stations to “realistic” levels in order to reduce the financial burden on gencos as they grapple with fuel shortages that have triggered a power crisis. : Mint

India’s power grid creaks under hybrid work model, heatwave

New Delhi : Indians are cranking up air conditioning as they still work from home, while lights come back on in offices and factories with an end to COVID curbs, upending power demand patterns amid a heatwave and the country’s worst blackouts in years. : Mint

India asks regulator to allow utilities to import up to 30% of coal needs

New Delhi : India has asked its federal power regulator to allow power generators to import up to 30% of the country’s coal requirement until March next year, according to a power ministry letter seen by Reuters. : Mint

EU Hikes Solar Target to 600 GW By 2030, 320 GW by 2025

New Delhi : Still reeling from the aftershocks of the Russian invasion of Ukraine and it’s struggle to punish Russia adequately with trade sanctions on fossil fuel exports, the EU’s updated REpowerEU strategy has reworked the maths to raise its solar targets by a 10 to 20% by 2025 and 2030 respectively. :

GE Unveils 3MW Wind Turbines Exclusively For North America

New Delhi : GE Renewable Energy has unveiled its newest onshore wind turbine platform designed called ‘Sierra’ specifically for the North America region. :

RWE Issues €2 billion Green bond For Renewable Play

New Delhi : In a major announcement, RWE has said that it has successfully issued a green bond with a total volume of €2 billion. The bond was issued in two tranches of €1 billion each. The maturities of the two will take place in 2026 and 2030. :

UN Secy Gen Calls Renewable Energy A Lifeline To World

New Delhi : UN Secretary-General António Guterres raised an alarm on May 18 that while time is running out to prevent the worst impacts of the climate crisis, there is a ‘lifeline’ of renewable energy right in front of us. :

Adani Solar Rated as leader in PV module Product Qualification Program (PQP) by PVEL

New Delhi : Maintaining a clean slate that it started in 2018, Adani Solar is the top performer in PVEL’s (PV Evolution Labs LLP) Product Qualification Program (PQP), according to its 8th annual PV module reliability scorecard. With this recognition. :

China Invites Bids for 11.25 GW of Offshore Solar Projects in Shandong Province

New Delhi : Shandong Provincial Energy Administration has invited bids to develop ten offshore solar photovoltaic (PV) sites with a total installed capacity of 11.25 GW. :

Consultancy Tender Floated for 20 MW of Solar Projects in Bhopal

New Delhi : Municipal Corporation Bhopal has invited bids from consultants to provide consultancy services to set up 20 MW of solar projects to supply power to its high tension (HT) consumers. :

Emerging Economies Like India Must Focus on Storage Technologies: Report

New Delhi : A recent report by the Massachusetts Institute of Technology’s Energy Initiative (MITEI) has studied the role of energy storage technologies with variable renewable energy resources to establish deep decarbonized electricity systems by 2050 efficiently. :

Amazon Invests $31 Million in Low-Light Solar Technology Firm Ambient Photonics

New Delhi : Ambient Photonics, a low-light solar photovoltaic cells manufacturer, raised $31 million in a Series A funding, led by Amazon via its Climate Pledge Fund and Ecosystem Integrity Fund. :

Spot power rates fall: Gencos’ plan to raise output likely to be hit

New Delhi : Spot power prices have dropped by half in the last one week on the India Energy Exchange from the highs of Rs 11 per unit, largely led by the likely onset of early monsoon in Kerala and other parts of India, and improvement of wind conditions in Tamil Nadu and Andhra Pradesh. : Financial Express

Oil and Gas

IndianOil’s Shuttlers and Coaches fuel India’s historic Thomas Cup Win

New Delhi : 15th May 2022 turned out to be a red-letter day for Indian Badminton as the national team scripted history by lifting the coveted Thomas Cup for the first time defeating 14 times champions Indonesia by an unbelievable 3-0 margin in the final. :

About half of Gazprom clients opened ruble accounts: Russia

Moscow : Russian Deputy Prime Minister Alexander Novak said Thursday that about half of the 54 companies that have natural gas contracts with energy giant Gazprom opened accounts in rubles. : Economic Times

Partial sale of government stake in BPCL may not work

New Delhi : Selling just a part of the government stake in BPCL when its privatisation bid is revived may not work, a person familiar with the matter said. : Economic Times

Swiss government, gas industry work to boost gas reserves

New Delhi : The Swiss government and the country’s natural gas sector have agreed to boost storage capacity in neighbouring countries and secure extra supply options ahead of winter, the cabinet said on Wednesday. : Economic Times

Indian Oil’s shuttlers fuel India’s historic Thomas Cup win

New Delhi : The Indian badminton squad which created history by winning the coveted Thomas Cup, had four star shuttlers employed with Indian Oil Corporation (IOC), the nation’s largest oil firm, said on Thursday. : Economic Times

Ecopetrol, Occidental to develop four offshore oil blocks

New Delhi : Colombia’s majority state-owned energy company, Ecopetrol, on Wednesday announced an agreement to develop four offshore, deep-water blocks with a subsidiary of U.S. oil major Occidental. : Economic Times

Indian govt in talks with Russian over cut-price oil deal: HPCL Chairman

New Delhi : India is in talks with Russia over a deal to buy oil at discounted rates, the chairman of India’s state-run Hindustan Petroleum Corp. said on Thursday, at a time when much of the West is shunning Russian crude over the conflict in Ukraine. : Mint

Woodside shareholders approve BHP petroleum merger

Brisbane : Shareholders in Woodside Petroleum approved on Thursday a merger with BHP Group’s petroleum arm to create a top 10 global independent oil and gas producer worth $40 billion, according to proxy votes shown at the company’s annual meeting. : Economic Times

Sukla Mistry, Director (Refineries), IOCL conferred ‘Urja Shakti Lifetime Achievement Award’

New Delhi : Ms. Sukla Mistry, Director (Refineries), IndianOil, was presented with the first ‘Urja Shakti Lifetime Achievement Award’ by Mr Rameswar Teli, Minister of State for Petroleum & Natural Gas and Labour & Employment, Government of India. :

China in talks with Russia to buy oil for strategic reserves

New Delhi : China is seeking to replenish its strategic crude stockpiles with cheap Russian oil, a sign Beijing is strengthening its energy ties with Moscow just as Europe works toward banning imports due to the war in Ukraine. : Mint

EU lays plan to end by 2027 bloc’s reliance on Russian oil and gas

New Delhi : The European Union published plans on Wednesday to end its reliance on Russian gas, oil and coal by 2027, laying out measures to expand renewable energy faster, save more energy and hike imports of non-Russian fuels. : Business Standard

Fresh BPCL disinvestment plan in works

New Delhi : The Centre will come up with a fresh disinvestment plan for state-run energy major Bharat Petroleum Corporation Ltd (BPCL) after its expansion plans have been completed. : Mint

Oil prices recoup early losses on China hopes, global supply fears

Tokyo, Japan : Oil prices rose on Thursday, recovering from early losses, on hopes that planned easing of restrictions in Shanghai could improve fuel demand while lingering concerns over tight global supplies outweighed fears of slower economic growth. : Business Standard

Russian oil ship-to-ship transfers shift to Rotterdam and near Ceuta

New Delhi : Russian oil sellers have restored ship-to-ship (STS) operations in Europe, in Rotterdam and near Spain’s Ceuta, after EU sanctions and activist protests derailed such operations in Denmark, three shipping sources told Reuters. : Economic Times

” Mumbai : The year 2021-22 has beena remarkable year with world economies recovering back strongly from the lows of Covid Pandemic on improved vaccine coverage and adoption of covid appropriate behavior. Energy Consumption – a key indicator of economic activity staged a smart comeback with consumption gradually moving towards pre-pandemic levels.” :

Sri Lanka cannot find cash to pay even one ship for petrol

Columbo : Sri Lanka asked citizens not to queue for gasoline as the nation on the verge of default has no dollars to pay for a fuel shipment. : Economic Times

Assam Police alerts Oil India, ONGC of possible militant attack

Guwahati : The Assam Police has issued an advisory to Oil India Ltd (OIL) and ONGC regarding probable subversive activities by banned ULFA(I) militants on their installations in the state as well as their employees, officials said on Thursday. : Economic Times

Italy PM says independence from Russian gas to take longer

Rome, France : Italian Prime Minister Mario Draghi said Thursday his country could be independent of Russian gas by the second half of 2024, longer than earlier estimates. : Economic Times

IGL announced a rise in net profit by 9%

New Delhi : Indraprastha Gas Limited, an Indian natural gas distribution company on Wednesday announced its Audited Financial Results for Quarter and Year ended on March 31, 2022 in its Board Meeting. :

Renault unveils hydrogen-powered prototype SUV in race to cleaner driving

Paris, France : Renault unveiled on Thursday a prototype hydrogen fuel cell-powered sports utility vehicle (SUV), as the French carmaker scrambles to catch up with rivals in the race to cleaner driving. : Economic Times

HPCL Q4 net declines 40%, declares final dividend of Rs 14/share for FY22

New Delhi : Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 40 per cent drop in net profit in the quarter ended March 31 as higher refining margins were wiped away by losses on auto fuel sales. : Business Standard

LPG price hiked by Rs 3.5, crosses Rs 1,000 mark

New Delhi : Cooking gas LPG price was on Thursday hiked by Rs 3.50 per cylinder, the second increase in rate this month following the firming of international energy rates. : Economic Times

BPCL, Uttarakhand Govt sign five years MoU for Green Initiatives

New Delhi : BPCL and The Government of Uttarakhand sign five years MoU on19th May 2022, for #GreenInitiatives in the state to collaborate in setting up renewable energy projects, 24/7 power for consumers, setting up of requisite infrastructure, training + knowledge sharing and much more. :

Venezuela confirms US’ decision to ease oil sanctions

Caracus, Venezula : Venezuela has confirmed a decision by the US to ease oil sanctions, calling for a total lifting of the American sanctions on the South American country. : Economic Times

Oil prices recoup early losses on China hopes, global supply fears

Tokyo, Japan : Oil prices rose on Thursday, recovering from early losses, on hopes that planned easing of restrictions in Shanghai could improve fuel demand while lingering concerns over tight global supplies outweighed fears of slower economic growth. : Economic Times

Oil prices recover from early losses as global supply fears linger

New Delhi : Oil prices rose on Thursday, recovering from early losses, as lingering fears over tight global supplies outweighed fears over slower economic growth as highlighted by slumping global shares. : Business Standard

Oil prices recoup losses based on renewed supply worries, dollar weakness

New York : Oil prices rebounded from earlier losses on Thursday as Chinese officials planned to ease restrictions in Shanghai, which could further tighten global energy supply, and as the dollar retreated from recent gains. : Business Standard

By Sarkaritel May 20, 2022 06:41