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renewable enrgy

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far
Updated On : 24 Jul 2024 | 11:44 AM IST

Sterling and Wilson Renewable Energy reports Rs 4.8 cr profit in Q1 profits

Sterling and Wilson Renewable Energy Ltd on Thursday posted a net profit of Rs 4.83 crore for the June quarter. It had clocked a net loss of Rs 95.32 crore in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 927.89 crore from Rs 522.35 crore in the same quarter a year ago. The expenses stood at Rs 913.23 crore during the quarter as against Rs 617.68 a year earlier. In a statement, Sterling and Wilson Renewable Energy Group Global CEO Amit Jain said, "We are well-positioned to continue this upward trajectory and deliver enhanced value to all our stakeholders." The company's current order book stands at Rs 2,170 crore, while net debt was at Rs 97 crore. Sterling and Wilson Renewable Energy Ltd is an end-to-end renewable engineering, procurement, and construction solutions provider for utility-scale solar, floating solar and hybrid and energy storage solutions.

Sterling and Wilson Renewable Energy reports Rs 4.8 cr profit in Q1 profits
Updated On : 18 Jul 2024 | 4:14 PM IST

Experts predict Budget to boost clean energy investments with new measures

The government is expected to announce a slew of measures in the full Budget for fiscal year 2024-25 to promote investments in the renewable energy space, experts say. Finance Minister Nirmala Sitharaman will present the 2024-25 Union Budget in Parliament on July 23. Their expectation is that the government may announce policy-related measures, viability gap funding (VGF) and incentive schemes for the clean energy industry, the experts said. "We expect the focus of the budget to remain green growth based... We expect the budget to focus more on renewables, storage, transmission and distribution network strengthening schemes. "We expect policy measures to incentivise, and to encourage investments in (battery) storage groups," Girishkumar Kadam, Senior Vice President & Group Head - Corporate Ratings, ICRA Ltd said. There is a slow progress being witnessed in pumped storage projects (PSP) space. Some policy bridges need to be announced to expedite the implementation of these projects

Experts predict Budget to boost clean energy investments with new measures
Updated On : 17 Jul 2024 | 5:06 PM IST

L&T bags Rs 10-15K cr order to build two solar plants in West Asia

Proposed plants will have a cumulative capacity of 3.5 GW, the Indian engineering giant said. The work on the projects will commence soon

L&T bags Rs 10-15K cr order to build two solar plants in West Asia
Updated On : 08 Jul 2024 | 3:22 PM IST

Shell to pause construction work at Dutch biofuels project as market sags

It is rare for companies to suspend development of projects underway. Rival BP last week said it is pausing two biofuel projects in Germany and the United States

Shell to pause construction work at Dutch biofuels project as market sags
Updated On : 02 Jul 2024 | 2:10 PM IST

Top 5 renewable energy business ideas for 2024; check the list below

The global shift to renewable energy sources has given rise to huge business opportunities. Here are the top 5 renewable energy business ideas 2024

Top 5 renewable energy business ideas for 2024; check the list below
Updated On : 28 Jun 2024 | 4:43 PM IST

GP Eco Solutions: This SME IPO has zoomed over 300% on debut on the NSE

GP Eco Solutions made a stellar stock market debut, with its shares got listed at Rs 375, a whopping 299% against its issue price of Rs 94 per share on the NSE.

GP Eco Solutions: This SME IPO has zoomed over 300% on debut on the NSE
Updated On : 24 Jun 2024 | 11:18 AM IST

Suzlon denies any financial irregularity as independent director quits

Renewable energy solutions provider Suzlon Energy on Monday clarified that there are no financial irregularities or compliance violations within the organization, following the resignation of its independent director Marc Desaedeleer. Desaedeleer resigned on Saturday and raised corporate governance issues within the company in his resignation on June 8, 2024, as per a BSE filing. In the resignation Desaedeleer said, "I am very pleased with the operational and financial performance recorded by the company over the last eighteen months. But, over the same period and including recently, several situations occurred where the corporate governance standards applied by the company did not meet my expectations including situations where communications lacked the level of openness and transparency, I would have liked to see." He further said "we discussed several of these situations, some were shared with board members, and I sent you recently a note covering these situations with the hope .

Suzlon denies any financial irregularity as independent director quits
Updated On : 10 Jun 2024 | 12:19 PM IST

Renewables, transmission to fuel power sector investment: Moody's

India needs $190-215 bn for 500 Gw renewable goal by 2030

Renewables, transmission to fuel power sector investment: Moody's
Updated On : 06 Jun 2024 | 11:37 PM IST

Sterlite Power gets stakeholders' nod to demerge transmission business

Sterlite Power Transmission Ltd (SPTL) on Thursday said it has received shareholders' nod to demerge its transmission business. The demerged transmission infrastructure is to be housed under Sterlite Grid 5 Ltd, and the global products and specialised EPC services will continue to remain under SPTL to pursue independent growth strategies. "Sterlite Power receives stakeholders' approval for demerger of transmission business from SPTL. The vote on the demerger proposal received 100 per cent approval from secured creditors, 99.26 per cent approval from unsecured creditors, 99.99 per cent from equity shareholders present and voting, and 100 per cent by the non-fund-based lenders," the company said. The simplified structure will allow each entity to attract capital pool tailored to its requirements. The transmission business can target long-term, patient investors seeking predictable cash flow, while SPTL, focusing on Global Products & Services (GPS) business, can attract capital ...

Sterlite Power gets stakeholders' nod to demerge transmission business
Updated On : 23 May 2024 | 3:57 PM IST

France less attractive for renewable investment, says TotalEnergies

France hopes to have 45 gigawatts (GW) of offshore wind in operation by 2050 to achieve carbon neutrality

France less attractive for renewable investment, says TotalEnergies
Updated On : 23 May 2024 | 12:15 PM IST

New economy, old habits

There is no doubt that the world needs to move with speed and at scale. But what will be the business model that we take to the new green world?

New economy, old habits
Updated On : 12 May 2024 | 10:05 PM IST

Tata Power Renewable signs pact with SJVN for 460 MW clean energy project

Tata Power Renewable Energy Ltd (TPREL) on Saturday said it has signed an agreement with state-owned SJVN Ltd to set up a 460 MW Firm and Dispatchable Renewable Energy (FDRE) project. An FDRE plant enables round-the-clock power supply, assisting power distribution companies (discoms) in fulfilling their Renewable Purchase Obligations (RPOs) and Energy Storage Obligations (ESOs). "The plant, designed to meet the 460 MW FDRE requirement, integrates solar, wind, and battery storage technologies to ensure efficient energy dispatch during peak hours, thereby stabilizing the grid," it said. The plant is expected to generate nearly 3,000 million units (MUs) of power and offset 2,200 million kgs of CO2 emissions annually, TPREL said in a statement. "This partnership with SJVN Ltd will witness the deployment of sustainable energy solutions from TPREL. It will go a long way in meeting the green energy objectives of SJVN Ltd," said Deepesh Nanda, CEO and Managing Director, Tata Power Renewabl

Tata Power Renewable signs pact with SJVN for 460 MW clean energy project
Updated On : 04 May 2024 | 3:58 PM IST

KPI Green Energy Q4 results: Net profit rise 36% to Rs 43.04 crore

KPI Green Energy on Thursday posted nearly 36 per cent rise in consolidated net profit to Rs 43.04 crore in the March quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 31.77 crore in the year-ago period, the company said in a BSE filing. The company's total revenue increased to Rs 292.96 crore during the quarter from Rs 184.41 crore a year ago. The consolidated net profit during the entire FY24 also increased to Rs 161.65 crore from Rs 109.62 crore a year ago. The board has also recommended final dividend at 2 per cent, i.e. Re 0.20 per equity share of the face value of Rs 10 each for the financial year 2023-24, subject to approval of the shareholders at the upcoming annual general meeting of the company.

KPI Green Energy Q4 results: Net profit rise 36% to Rs 43.04 crore
Updated On : 25 Apr 2024 | 7:02 PM IST

Inox Wind board cleares bonus issue in 3:1 ratio to its shareholders

Wind energy solutions provider Inox Wind on Thursday said its board of directors have cleared a proposal to issue bonus shares in the ratio of 3:1 to its shareholders. The bonus shares shall be issued to the shareholders whose names appear in the Register of Members as on the 'Record Date', a company statement said. According to the statement, Inox Wind Ltd Board of Directors at its meeting held on April 25, 2024 has proposed the issuance of three bonus equity shares for every one existing equity share out of the accumulated reserves of the company. The issuance of bonus shares will not only bolster the capital base of the company without any cash outflow but will also enhance the liquidity of Inox Wind's shares, broadening participation of a wider set of investors, it stated. Over the course of financial year 2023-24, Inox Wind turned profitable in the September-December 2023 quarter on the back of a significant ramp up in business operations. Moreover, over the course of the pas

Inox Wind board cleares bonus issue in 3:1 ratio to its shareholders
Updated On : 25 Apr 2024 | 6:10 PM IST

Macquarie calls off plans to sell renewable energy company Vibrant Energy

The plan was called off due to a discrepancy in the valuation of Vibrant Energy, which has an enterprise value of $500 million

Macquarie calls off plans to sell renewable energy company Vibrant Energy
Updated On : 25 Apr 2024 | 12:12 PM IST

K.P. Energy secures wind power project; share hits 5% upper circuit

The surge came after K.P. Energy secured an order for development of a 9MW wind power project in Gujarat

K.P. Energy secures wind power project; share hits 5% upper circuit
Updated On : 23 Apr 2024 | 12:15 PM IST

Mahindra Group to invest nearly Rs 1,200 cr in renewable energy projects

Mahindra Group will develop a 150 MW hybrid RE (Renewable Energy solar + wind) project at a total project cost of about Rs 1,200 crore, said Mahindra Susten

Mahindra Group to invest nearly Rs 1,200 cr in renewable energy projects
Updated On : 16 Apr 2024 | 12:07 AM IST

Torrent Power gets order to supply 150 MW renewable energy for Rs 1,825 cr

Torrent Power on Thursday said it has received a letter of award from its 'Distribution Unit' for setting up a 150MW wind solar hybrid project with an investment of Rs 1,825 crore. The renewable energy project will supply power at a tariff of Rs 3.65 per kWh, a BSE filing stated. "...the company has received Letter of Award from Torrent Power Limited-Distribution Unit for setting up of 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects under Greenshoe option," it stated. The project will be commissioned within 24 months from the signing of Power Purchase Agreement (PPA). The contract for supply of power will be 25 years from the commissioning of the project. The annual CUF (capacity utilisation factor) will not be less than 50 per cent for any year during the term of the PPA and rated power capacity of wind and solar will be in the ratio of 2:1. To meet the 50 per cent CUF requirement, the company plans to install 245 MW of wind and solar capacity projects against a ...

Torrent Power gets order to supply 150 MW renewable energy for Rs 1,825 cr
Updated On : 28 Mar 2024 | 9:54 PM IST

Surviving airbenders are trying to get wind energy back to its past glory

Between 2012 and 2016, tax benefits and incentive schemes for wind energy witnessed mercurial changes

Surviving airbenders are trying to get wind energy back to its past glory
Updated On : 12 Mar 2024 | 10:51 PM IST