Wind Energy

Suzlon Energy sells corporate HQ in Rs 440 crore sale-leaseback deal

Company says move to help focus on core operations

After nearly 300% rise in 1 year, does Suzlon stock have more upside left?

Suzlon share price today: From a level of Rs 20.25 seen on August 16, 2023, Suzlon share price has zoomed 295 per cent in one year to quote at Rs 79.93 per share as on Friday

This BSE200 stock hit Rs 1 trillion market cap; zoomed 90% in 3 months

Suzlon market cap hits Rs 1 trn on Friday: The sharp rise in market cap was due to allotment of equity shares in rights issue; conversion of optionally convertible debentures and bonds into stock.

PFC secures 25.5 bn yen loan from JBIC to finance wind energy project

State-owned Power Finance Corporation (PFC) on Thursday said that it has secured a loan of 25.5 billion Japanese yen (around Rs 147 crore) from Japan Bank for International Cooperation (JBIC) for a wind energy project. This loan is part of JBIC's Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative, a PFC statement said. According to the statement, PFC has secured a long-term loan of JPY 25.5 billion from the JBIC. In addition to JBIC's contribution, the loan is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks. JBIC will also provide a guarantee for the portion of the loan co-financed by these private financial institutions. The loan proceeds will be used to finance 300.3 MW Wind Energy Project of Ostro Kannada Power Private Ltd (OKPPL) in Karnataka, India.

Inox Wind secures 201 MW project from Integrum Energy Infrastructure

Wind energy solutions provider Inox Wind on Tuesday said it has secured an order for a 201 MW project from Integrum Energy Infrastructure. This is an equipment supply order for IWL's latest 3 MW Wind Turbine Generators (WTGs), a company statement said, adding that Inox Wind will also provide post-commissioning multi-year operations and maintenance (O&M) services. The project will be executed across four states -- Madhya Pradesh, Rajasthan, Karnataka and Maharashtra. According to the statement, Inox Wind has bagged an order for 201 MW from Integrum Energy Infrastructure Ltd, a leading C&I (Industrial and Commercial) player. Inox Wind CEO Kailash Tarachandani said, "Integrum has been a longstanding partner for us, and we are delighted that they have reaffirmed their faith in our product and solutions with this large equipment supply order for 201 MW". Integrum Energy founder and CEO Anand Lahoti said, "Integrum is on a strong growth journey, focusing on providing hybrid ...

Electricity: A strategic view

Heavy lifting is now required in electricity and financial reforms

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

Suzlon Group Q1 results: Profit after tax nearly three-fold up at Rs 302 cr

The company's revenues also rose to Rs 2,016 crore from Rs 1,348 crore in the year-ago quarter

Inox Wind to become a debt-free company after promoter infuses Rs 900 cr

Inox Wind Ltd on Thursday said its promoter Inox Wind Energy (IWEL) has infused Rs 900 crore into the company, following which the wind energy solutions provider will become a net debt-free company. In a statement Inox Wind Ltd (IWL) on Thursday announced the completion of infusion of Rs 900 crore into the company by its promoter Inox Wind Energy Ltd (IWEL). "This fund infusion will help us become a net debt-free company, strengthening our balance sheet and help accelerate our growth. We expect substantial savings in interest expenses going ahead, aiding our profitability further," Kailash Tarachandani, CEO of Inox Wind said. The funds were raised by the IWEL on May 28, 2024, through sale of equity shares of IWL through block deals on the stock exchanges, witnessing participation of several marquee investors, as per the company statement. The funds will be utilised by Inox Wind Ltd to completely pare down its external term debt to achieve a net debt-free status, it added. Net Debt

Copper demand to skyrocket with shift to clean energy sources: HCL CMD

The demand for copper, a key component in electric vehicles, will go up substantially as the world shifts to cleaner energy sources to mitigate climate change, according to Hindustan Copper Chairman and Managing Director Ghanshyam Sharma. By transitioning from fossil fuels to renewable energy sources like solar, wind, hydro, and geothermal, greenhouse gas emissions can be reduced significantly. "As the world transitions to cleaner energy sources...the demand for copper will increase significantly as a vital component in electric vehicles and renewable energy technologies such as solar panels, wind turbines etc," the CMD said in a recent message on the company's website. He further said the company has been given the charge of utilisation of the nation's copper resources in an efficient and sustainable way. India, he said, is committed to achieving net zero emission by 2070. According to ICRA, the domestic refined copper demand growth is expected to remain healthy at 11 per cent in

Parlous state of Indian refining segment threatens clean energy projects

Govt-run refiners may not be able to aggressively invest in clean energy projects as they stare at a rough road amid dwindling margins, volatile crude prices, shrinking discounts on Russian oil buys

Govt clears Rs 7,453 crore VGF scheme for offshore wind energy projects

The Union Cabinet on Wednesday approved a Rs 7,453 crore-Viability Gap Funding (VGF) scheme for offshore wind energy projects, including one in Gujarat. The scheme includes an outlay of Rs 6,853 crore for the installation and commissioning of 1 GW of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and a grant of Rs 600 crore for the upgradation of two ports to meet logistics requirements for offshore wind energy projects. The VGF scheme is a major step towards implementation of the National Offshore Wind Energy Policy notified in 2015, with an aim to exploit the vast offshore wind energy potential that exists within the exclusive economic zone of India, Information and Broadcasting Minister Ashwini Vaishnaw said in a press briefing. The VGF support from the government will reduce the cost of power from offshore wind projects and make them viable for purchase by Discoms, he noted. The Ministry of New and Renewable Energy, as the nodal ministry, w

Adani Group plans to invest over $1 billion in Sri Lankan wind projects

Adani Group plans to invest over USD 1 billion in setting up projects in Sri Lanka to generate electricity from wind in what would be the island nation's single largest foreign direct investment and the biggest ever power project, sources said. Group firm Adani Green Energy Ltd (AGEL) will set up two wind farms in Sri Lanka's Mannar town and Pooneryn village in the northern provide with a total installed capacity of 484 megawatt at an investment of about USD 740 million. The related infrastructure that would transmit electricity to consumption centres will see further investment of over USD 290 million, two sources with knowledge of the matter said. The projects will not just be Sri Lanka's largest renewable energy project but also the nation's biggest power project to date. Last month, Sri Lanka had entered into an agreement to buy electricity from Adani's wind power stations for 20 years. AGEL will be paid 8.26 cents per kilowatt-hours (kWh) as per the agreement. This is lower t

Suzlon Group bags 551 MW wind energy project from Aditya Birla Group

Suzlon Group on Wednesday said it has secured an order for a 551.25 MW wind power project from Aditya Birla Group. The order is to be executed across two sites in Rajasthan and Gujarat, Suzlon Group said in a statement. While 368.55 MW will be developed by Suzlon in the Barmer district of Rajasthan, another 182.70 MW will be developed at the site by the client in the Bhuj district of Gujarat, the company said. The power generated from this project will be utilised for captive usage within the Aditya Birla Group companies. Suzlon will install a total of 175 Wind Turbine Generators (WTGs), each having a rated capacity of 3.15 MW, at sites in the Barmer district of Rajasthan and the Bhuj district of Gujarat. Suzlon will also undertake operations and maintenance services post-commissioning at both sites. Girish Tanti, Vice Chairman, Suzlon Group, said, "We are delighted to partner once again with the Aditya Birla Group for this order. Suzlon admires and shares the value of nation-bui

Gujarat Toolroom buys 65 acre land for Rs 570 crore hybrid energy project

Gujarat Toolroom on Thursday said it has acquired a 65-acre land parcel in Gujarat to set up a green energy project at an investment of Rs 572 crore. "Upon completion, the Hybrid Power Plant aims to contribute 97.5 megawatts of clean and sustainable electricity to the grid, the company said in an exchange filing. The company said it aims to set up the plant in 3-5 years. The company has acquired 65 acres of land on long-term lease in Gujarat for the establishment of Green Energy Hybrid Power Plant Project worth Rs 5.72 billion, it said. While 60 acres of the acquired land will be dedicated to the installation of solar panels, the remaining will be utlised for essential power management infrastructure, including transformer stations and high-voltage line terminals. The land layout plan includes provisions for the placement of 15 on-shore wind turbines. Each turbine is expected to produce 2.5 megawatts of power per hour. Ahmedabad-based Gujarat Toolroom is into manufacturing and ...

'At least $12 trn needed for tripling renewable energy capacity by 2030'

At least USD 12 trillion is required to create new infrastructure over the next six years for tripling global renewable energy capacity by 2030, COP28 President Sultan Al Jaber said on Friday. Addressing the annual Petersberg Climate Dialogue, Al Jaber said the energy transition will not happen without significant investment and a level-up in climate finance. He said the four key priorities to level up climate finance are infrastructure, technology, people and the Global South. "On infrastructure, we need to invest at least USD 6 trillion over the next six years to meet our 2030 target of 11TW of renewable energy capacity. And we need to spend a similar amount to upgrade outdated or non-existent grids," the COP28 president said. World leaders reached a historic agreement at COP28 in Dubai last year to triple global renewable energy capacity by 2030. According to the International Energy Agency, tripling global renewable energy capacity and doubling energy efficiency is crucial to

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 bonus issue plan: Board meet on April 25; stock zooms 9%

This comes after the company announced that its board of directors will meet on April 25, to consider and approve the proposal for issuance of bonus equity shares to the shareholders of the company

Inox Wind bags repeat order for 210 MW project from Hero Future Energies

Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd's state-of-the-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises equipment supply with certain add-on services, according to the statement. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India. Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces the confidence in our 3MW WTGs, being one of the most efficient turbines in its class. The addition of this order further re-emphasises our growth outlook.

Juniper Green commissions 25.2 MW capacity of its 70 MW wind energy project

Delhi-NCR based Juniper Green Energy on Tuesday announced commissioning of 25.2 MW capacity of its 70-MW wind power project. The project has been commissioned almost nine months before the scheduled commercial date of operation, the company said in a statement. The operational 25.2 MW is part of the project's progressive rollout, it said. This project will deliver power under a 25-year Power Purchase Agreement (PPA) with GUVNL at a tariff of Rs 2.90, aligning with efforts to provide cost-effective and environmentally responsible energy solutions, as per the statement. The project is expected to produce around 230 MUs (million units) of electricity per year, aiding in Gujarat's renewable energy efforts and reducing carbon emissions by an estimated 2,13,055 tonnes annually. The initiative will supply power to about 45,440 households, showcasing Juniper Green Energy's role in promoting renewable energy adoption. Juniper Green Energy CEO Naresh Mansukhani said, "I am immensely proud