We have significant growth ambitions in India: Amit Jain, Engie

Q&A with Amit Jain, Country Manager - India, Engie

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ONGC prepares for 3rd interim chairman in a row; 9 shortlisted for top job

ONGC is without a regular chairman and managing director since April 2021. Subhash Kumar, the senior-most director on the company board and the director for finance, was named officiating head after Shashi Shanker superannuated on March 31, 2021.

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ONGC prepares for 3rd interim chairman in a row; 9 shortlisted for top job

A search-cum-selection committee, which was in February this year tasked to identify suitable candidates, began work only this month after terms of reference were finalised. The panel has shortlisted nine candidates on the basis of higher eligibility age limit proposed by the oil ministry, which brought most existing directors - who otherwise were ineligible to even apply, in the zone of consideration, officials said.

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BCPL seeks to invest Rs 450 crore for Naphtha storage at Haldia

Kumar said an award of concession valued at Rs 250 crore was given to Hooghly Oil and Gas Terminal Private Limited on Thursday for setting up a liquid cargo handling jetty along with associated facilities at Shalukkhali, Haldia Dock-II on design, build, finance, operate and transfer (DBFOT) basis for a concession period of 30 years.

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L&T sets up green hydrogen plant at Hazira; in talks with steel, cement makers for similar units

As part of its environmental, social, and governance (ESG) commitments, L&T is planning to achieve water neutrality by 2035 and carbon neutrality by 2040, making green hydrogen an integral part of its clean fuel adoption policy.

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Power outage threat looms large as defaulting states barred from power exchange

Trading in the power exchanges was extended for two hours on Thursday upon request of various state governments. However, most of them could not participate in the day-ahead trade. Officials in some of these states said they are working with the power plants to pay the dues while a few are expected to move courts against the Centre's Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified in June.

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After nearly 15 years, Assam oil field resumes operations

Assam Chief Minister Himanta Biswa Sarma attended the ceremonial function of resumption of Khagorijan oil field of OIL at Rohmoria, operations of which were suspended since November 2007 due to administrative and environmental issues.

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Nepal gives India two power projects quit by China

An agreement on the projects was signed this week in Kathmandu in backdrop of a decision by the prime ministers of the two countries to focus on expanding power sector partnership that includes participation of Indian power majors in the projects in Nepal.

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After almost 15 years, Oil India Limited’s Khagorijan oil field starts operation

Assam Chief Minister Himanta Biswa Sarma attended the ceremonial function of resumption of Khagorijan oil field of Oil India Limited at Rohmoria in Dibrugarh district, operations of which were suspended since November 2007 due to administrative and environmental issues.

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Current discom dues drop 80 per cent day after exchange ban

Restrictions on Karnataka and Telengana were removed just before midnight. Five states, including Madhya Pradesh, Jammu & Kashmir and Rajasthan, remained suspended from trading on power exchanges till press time on Friday. The current dues of Jammu and Kashmir are the highest at ₹435 crore, followed by Madhya Pradesh at ₹234 crore.

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Windfall tax cut on oil producers expected; hike in levy on ATF, diesel exports surprising: Analysts

At the third fortnightly review, the government has increased the windfall profit tax on the export of diesel to Rs 7 per litre from Rs 5 a litre and brought a Rs 2 a litre tax on ATF exports.

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Junkyard of neglect: How political apathy ruined a solar plant in UP's Unnao

The plant, which came under the Bangarmau block, was set up in 2017 at a cost of Rs 3.12 crore under the Mini-Grid Policy, which sought to enhance electrification in rural areas with no access to the national grid. The policy facilitated private developers to set up solar plants to power rural households and collect tariffs directly from consumers.

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Indian oil marketing majors' short-term borrowings up 17% in FY22 to Rs 73,000 crore

The jump in borrowings, according to company officials and analysts, is attributable to increased working capital needs on the back of a freeze in revision of petrol and diesel prices, even as crude oil prices jumped 72% in the last fiscal.

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Adani arm gets clean chit from CESTAT in over-invoicing case

Sources told ET that the department has sent a proposal to the Central Board of Indirect Taxes and Customs (CBIC) for filing an appeal before the Supreme Court against the Tribunal's orders on the point of both fact and law.

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Tata Power Renewable raises Rs 2,000 crore by issuing 8.36 crore shares to BlackRock-backed firm

Earlier in April this year, BlackRock Real Assets-led consortium, including Mubadala Investment Company, had inked a binding agreement with Tata Power to invest Rs 4,000 crore by way of equity/compulsorily convertible instruments for a 10.53 per cent stake in Tata Power Renewables Energy Ltd, translating to a base equity valuation of Rs 34,000 crore.

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BCPL seeks to invest Rs 450 crore for Naphtha storage at Haldia

"BCPL today submitted its feasibility report for the naphtha import storage and despatch facility at Haldia. The investment will be Rs 450 crore," Kolkata Port chairman Vinit Kumar said at the Maritime PPP conclave.

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Bills pending, 13 states barred from power exchanges

This is the first time the Centre has taken recourse to this route on such a broad scale to ensure payment to power producers. Earlier, such restrictions were imposed on one or two defaulting states, and were removed quickly.

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Explained: Why Discoms from 13 states barred from power trading market and its repercussions

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Power outage threat looms large as defaulting states barred from power exchange

Trading in the power exchanges was extended for two hours on Thursday upon request of various state governments. However, most of them could not participate in the day-ahead trade. Officials in some of these states said they are working with the power plants to pay the dues while a few are expected to move courts against the Centre's Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified in June.

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Centre slashes Windfall Tax to Rs 13,000 per tonne, reintroduces levy on ATF, increase levy on Diesel

At the third fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 7 per litre from Rs 5 a litre and brought back a Rs 2 a litre tax on ATF (Aviation Turbine Fuel) exports, a finance ministry notification showed.

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Renewable Energy India: REC showcases its new Alpha Pure-R solar panel

REC is exhibiting its new Alpha Pure-R solar panel, just one year after launching the 2022 Intersolar Award winner, REC Alpha Pure. Demonstrating its commitment to supply its many customers with innovative solar products, REC has doubled its Alpha HJT production capacity in Singapore for the new solar panel.

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India may delay coal plant closures in blow to climate action

Under the proposals being considered, India’s coal plants -- which currently account for almost 70% of electricity generation -- would continue to handle peak evening power demand, even as solar and wind projects become increasingly able to fulfill day-time requirements.

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More than 107 coal mines to be auctioned in near future: Govt

Joshi, while addressing a function, said that in the last four months CIL has produced around 207 million tonnes of coal, thereby setting a new record, according to a coal ministry statement.

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Renewable Energy India: REC showcases its new Alpha Pure-R solar panel

REC is exhibiting its new Alpha Pure-R solar panel, just one year after launching the 2022 Intersolar Award winner, REC Alpha Pure. Demonstrating its commitment to supply its many customers with innovative solar products, REC has doubled its Alpha HJT production capacity in Singapore for the new solar panel.

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Essar signs new 60 million litre fuel deal with D A Roberts

Dave Roberts at DA Roberts Fuels Ltd, said: "We know how important it is that our sites are well-equipped to handle the continued increase in demand from our customer base in Shropshire. With Essar's support we are well-placed to do that, providing people in the region with the best deals available and allowing us to grow to invest in our future fuel offering."

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Indian oil marketing majors' short-term borrowings up 17% in FY22 to Rs 73,000 crore

The jump in borrowings, according to company officials and analysts, is attributable to increased working capital needs on the back of a freeze in revision of petrol and diesel prices, even as crude oil prices jumped 72% in the last fiscal.

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Mahanagar Gas cuts PNG and CNG prices on higher supply from govt

The price of PNG has been reduced by Rs 4 per standard cubic metre to Rs 48.50 per SCM, while that of CNG by Rs 6 a kilogram to Rs 80 per kg, as per an official statement.

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CNG price reduced by Rs 6, PNG by Rs 4 in Mumbai

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NTPC taps CPPIB, TAQA to sell green arm stake

Feelers have been sent and preliminary discussions have been held with Abu Dhabi-listed TAQA, Malaysia’s state-owned Petronas, Canadian pension fund CPP Investment Board (CPPIB), Brookfield, KKR & Co. and Copenhagen Infrastructure Partners among others to gauge their interest, said people aware of the development.

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Kalpataru Power moves court in Paris to enforce Rwanda Energy arbitration award

BSE-listed KPTL, a power transmission and distribution company, had entered into a contract with REG in November 2013 to install and commission a 220 KV power transmission network connecting the Democratic Republic of Congo and Rwanda in Central Africa. A dispute arose when REG refused to pay KPTL for price adjustment.

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Coal stocks at thermal power stations to last 17 days, says senior official

Speaking about the coal supply to Mahagenco and other power companies, coal secretary Anil Kumar Jain said the WCL was supposed to give 1.50 lakh tonnes coal per day to the power sector from its Wardha valley zone, but it could give average 60,000 tonnes a day, as the production was hit due to rains. Accordingly, the CIL recognised the issue and provided coal to Mahagenco from Mahanadi Coalfields in Odisha and Chhattisgarh, he said.

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India's fuel demand continues to fall in August as monsoon sets in

The arrival and intensity of monsoon weigh heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June. Monsoon restricts mobility and demand from the farm sector, which uses diesel in irrigation pumps and trucking, also drops with the onset of rains.

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PM Modi sets sights on developed India by 2047

Addressing the nation from the ramparts of the Red Fort on the 76th Independence Day, Modi coined 'Panch Pran' or lifeblood resolves for the nation when it celebrates its 100th year of independence in 2047.

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Providing electricity govt's responsibility but conserving it people's duty: PM Modi

"It is the responsibility of the government to try and provide 24-hour electricity. But it is the duty of the citizens to conserve as much electricity as they can," Modi said.

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Ola plans to start producing electric cars in 2024

Aggarwal said that while companies like Tesla are leading the way in building electric vehicles more suited for Western markets, India can lead in the area of small cars, scooters and motorbikes for which global demand is higher.

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Coal-based power plants capacity utilisation to rise on strong demand, says NTPC CMD

In the Annual Report for 2021-22 of NTPC, Singh stated in a message to shareholders that "it is pertinent to mention that the period of low dispatch of power from our stations and 'supply overhang' in the country seems to be over.

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Suzlon feels financial woes over with REC-led refinance; looks to raise Rs 1,200 cr in FY23 from rights issue

The Pune-based company, which once struggled to pay its over Rs 6,500 crore debt, feels its order book, pipeline of potential business and government policies are other tailwinds that will offer support, a senior official has said.

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Suzlon feels financial woes over with REC-led refinance; looks to raise Rs 1,200 cr in FY23 from rights issue

The Pune-based company, which once struggled to pay its over Rs 6,500 crore debt, feels its order book, pipeline of potential business and government policies are other tailwinds that will offer support, a senior official has said.

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Power ministry for pausing emission control gear setup after phase-1

Based on a study by IIT Delhi and the Central Electricity Authority (CEA), the ministry has said the implementation of flue gas desulphurisation (FGD) equipment raises carbon dioxide emission.

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Torrent Power leads race to buy clean energy firm Vector Green

The Ahmedabad-based utilities group has trumped the other contenders in the fray including JSW Energy, Apraava Energy (formerly CLP India) and Singapore's Sembcorp, the people cited earlier said.

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PFC Projects likely to rope in investor partners for stressed power projects

The joint venture has been set up for taking over stressed assets or NPA (non performing assets) in the power sector. Earlier this month, the boards of PFC and REC approved a subscription of 50 per cent equity each not exceeding Rs 50 crore each in the PPL.

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Railway Board suggests penalties and infrastructure improvement to lower rake congestion

Instances of coal loading terminals and power houses taking more than permitted free time to release wagons were flagged in April. This was leading to excessive congestion around coal handling points and the zonal railways have now been advised to make use of provision of penal demurrage to prevent the delays.

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Reliance, Nayara face windfall profit tax on local supplies alongside exports

The windfall tax was targeted mainly at Reliance Industries Ltd and Russian oil major Rosneft-backed Nayara Energy, who the government believed were making a killing on exporting large volumes of fuel made from discounted Russian oil, at the cost of the domestic market, three sources with knowledge of the matter said.

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IOC to sell 7 hydrogen units

"IOCL is planning to monetise two of its hydrogen generation units this year. To begin with, it will sell 100% stake in the 70,000 tonnes per annum hydrogen generating unit at the Gujarat refinery," said an official.

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IOC to sell 7 hydrogen units

"IOCL is planning to monetise two of its hydrogen generation units this year. To begin with, it will sell 100% stake in the 70,000 tonnes per annum hydrogen generating unit at the Gujarat refinery," said an official.

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PFC Projects likely to rope in investor partners for stressed power projects

PFC Projects Ltd, an equal joint venture of Power Finance Corporation and REC Ltd, is likely to rope in technical or strategic investor partners to operate and maintain acquired stressed or non-performing assets next year.

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Siemens Gamesa to supply wind turbines for Azure Power’s Karnataka project

Turbine supply agreement will cater to Azure’s projects and its other energy pipelines

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Reliance, Nayara face windfall profit tax on local supplies alongside exports

In subsequent fortnightly reviews, the government scrapped the export tax on petrol and jet fuel (ATF) and more than halved the export tax on diesel to Rs 5 per litre.

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India to miss renewable energy goal, officials, experts say

The target, set in January 2018, would have increased India's renewable energy capacity to 43of its current energy mix. The government now says it hopes to achieve the goal by mid-2023.

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Asia's largest Compressed Biogas plant in Sangrur starts commercial production

Besides, PEDA (Punjab Energy Development Agency) has also allocated 42 additional CBG projects of total capacity 492.58 Tonnes Per Day (TPD) based on paddy straw and other agro-residue to develop a lasting and sustainable solution to prevent stubble burning while also strengthening the rural economy.

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Opinion: Wind-farming the high seas

India plans to add 500 GW of non-fossil fuels-based energy capacity by 2030 on the road to achieve Net Zero by 2070. Offshore wind energy, shows great promise in this quest, but also comes with a raft of challenges.

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State Bank sells distressed KSK Mahanadi loans to Aditya Birla ARC for Rs 1,622 crore

This would be the single-largest distressed loan sale on an upfront payment basis by any bank, equating to a recovery of 42 per cent for the bank. Aditya Birla ARC's bid was supported by its joint venture partner, Varde Partners.

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India says no pressure on it to limit energy purchases from Russia

India, the world's third-biggest crude importer, overtook China to become the biggest buyer of Russian oil in July based on sea-borne volumes, having bought very little from the country before the start of the war in Ukraine in February.

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State Bank sells distressed KSK Mahanadi loans to Aditya Birla ARC for Rs 1,622 crore

This would be the single-largest distressed loan sale on an upfront payment basis by any bank, equating to a recovery of 42% for the bank. Aditya Birla ARC's bid was supported by its joint venture partner, Varde Partners.

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Oil India June quarter net profit triples on oil, gas price boost

Its net profit was Rs 1,555.46 crore, or Rs 14.34 per share, in April-June compared to Rs 507.94 crore, or Rs 4.68 a share, in the same period a year back, the company said in a statement.

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Solar plants to light up 27 AICTE institutions in Northeast

The solar plants, during the 25 years of service period, are expected to bring down the financial burden on energy compared to conventional electricity supply.

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Natural resource sector can play key role in India's growth: Vedanta chairman

"The natural resource sector will play a pivotal role in India's growth and employment story as the nation strives to become Aatmanirbhar. Even small policy reforms can unleash the true potential of this sector," Agarwal said at the company's 57th annual general meeting.

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Greenko to develop up to 400 MW green capacity for Hindalco's aluminium smelter in Odisha

The project, which will have wind and solar capacity, will supply power to Hindalco's aluminium smelter in Odisha, Greenko said in a statement on Thursday.

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Cheaper, changing and crucial: the rise of solar power technology

The International Energy Agency says solar will have to scale up significantly this decade to meet the Paris climate target of limiting temperature rises to 1.5 degrees Celsius above pre-industrial levels.

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India plans investments across sectors to strengthen link with Sri Lankan economy

The sectors that India is focusing to invest include renewable energy, hydrocarbons, ports and infrastructure, IT and hospitality, highly placed sources told ET.

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

Dedicating the second-generation ethanol plant of India Oil Corporation to the nation here, Modi said that the same amount of Rs 50,000 crore has gone to farmers.

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IREDA Q1 profit up 19 per cent to Rs 225 cr

Chairman & Managing Director Pradip Kumar Das said IREDA has not only clocked its highest ever quarterly PBT (profit before tax) of Rs 339.86 crore, but also registered a significant reduction in gross and net NPAs, which is a big achievement for any NBFC.

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India to start supplying petrol with 20 per cent ethanol from April 2023

India, which achieved the target of supplying petrol mixed with 10 per cent ethanol (10 per cent ethanol, 90 per cent petrol) ahead of schedule in June this year, has advanced the target of making petrol with 20 per cent ethanol by five years to 2025.

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India's annual green finance is just one-fourth of its needs, finds study

The report estimates that for India to achieve its Nationally Determined Contributions (NDCs) under the Paris agreement, the country requires approximately Rs 162.5 lakh crore (USD 2.5 trillion) from 2015 to 2030 or roughly Rs 11 lakh crore (USD 170 billion) per year, the US-based organisation said in a statement.

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Jindal Stainless to set up green hydrogen plant

Hygenco is a venture-backed by Vivaan Solar, a leading solar developer and renewables Engineering, Procurement and Construction (EPC) player.

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OPINION: Current market conditions augur well for India’s energy transition

Under the dynamic energy transition scenario, market forces are acting upon balancing the energy mix in the short-run and shifting fossil fuel load to clean energy in the long-run.

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

Thanks to heavy rainfall in Kerala, hydel plants here have been harnessing almost 23 million units daily. It exceeded 25 MU on Monday. Generation of wind energy, too, increased over the week due to favourable wind patterns.

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

This ambitious plan will be implemented riding on the back of two projects -- one by forming a joint venture with central PSU NLC India and another by taking a loan from the Asian Development Bank (ADB).

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GAIL to double share capital; add specialty chemicals, clean energy to business

The firm is laying natural gas truck pipelines to create a national gas grid as well as expand city gas distribution as part of the government's target of more than doubling the share of natural gas in the primary energy basket to 15 per cent by 2030.

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IOC to transport fuel to Tripura via Bangladesh

"IOC has already signed an agreement with the Bangladeshi authorities in Dhaka on August 3. We have sought visas for the drivers and their assistants to drive the tankers through the neighbouring country," a senior IOC official told PTI.

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

This ambitious plan will be implemented riding on the back of two projects -- one by forming a joint venture with central PSU NLC India and another by taking a loan from the Asian Development Bank (ADB).

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

GPIL, part of the Raipur-based Hira Group of Industries, manufactures long products of steel, mainly steel wire. It also produces sponge iron, billets, ferro alloys, among others.

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HPCL, Honda join hands to boost electric mobility

With the fast adoption of environment-friendly EVs that run batteries charged by electricity, infrastructure to either charge such vehicles or provide facilities to replace discharged batteries with fully charged ones are being set up across the country.

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AES Brasil buys three wind farms in deal valued at about $400 million

The deal has an enterprise value of up to 2.03 billion reais ($397 million), consisting of 1.1 billion reais in equity and the assumption of 928 million reais in debt.

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Torrent Power appoints Varun Mehta as director

During his tenure with Torrent Power, he has worked across different business segments of the company – namely Renewables, Thermal Generation and Distribution.

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India's July fuel demand rises 6.1 per cent year-on-year

Consumption of fuel, a proxy for oil demand, totalled 17.62 million tonnes in July, down 5.7 per cent from 18.68 million tonnes in June.

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Opposition members express concern over 'ambiguous' definition of carbon trading in energy conservation bill

Participating in the debate, N K Premachandran of the Revolutionary Socialist Party (RSP) said the Bill is ambiguous about carbon trading and its definition is not clear.

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Opposition members express concern over 'ambiguous' definition of carbon trading in energy conservation bill

Participating in the debate, N K Premachandran of the Revolutionary Socialist Party (RSP) said the Bill is ambiguous about carbon trading and its definition is not clear.

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Gujarat: Renewable energy met 58 per cent of demand on August 8

While the state consumed 269.31 million units on Sunday, the total energy evacuated by Tangedco from all three sources stood at 155.97 million units, which is 57.91 per cent of the total consumption.

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Electricity Amendment Bill: Claim to provide choice to power consumers "misleading": AIPEF Chairman

In a letter to Prime Minister Narendra Modi, the All India Power Engineers Federation (AIPEF) has demanded that the bill be referred to the Parliamentary Standing Committee on Energy for wider consultation.

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Rajasthan: City airport switching to green energy to cut carbon emissions

According to officials, the airport recently changed 147 air conditioners to zero carbon emissions air conditioners. It is also trying to ensure that by December, 50 per cent of its power usage is solar energy. At present it stands at 25 per cent, officials said.

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MP govt aims to generate extra 20,000 MW of green power by 2030 through renewable energy sources

"We have set a target to produce an additional 20,000 MW of green power by 2030 through renewable energy sources in the state for supplying it to other states," Madhya Pradesh energy and renewable energy department's principal secretary, Sanjay Dubey, told PTI.

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BPCL logs ₹6,148 cr Q1 loss on holding retail fuel prices

Last month the Cabinet Committee on Economic Affairs approved an additional investment of $1,600 million (about ₹12,000 crore) by Bharat PetroResources (BPRL), an arm of BPCL, in a concession project in Brazil. BPRL owns a 40% participating interest in the Sergipe Alagoas concession, while Petrobras, the national oil firm of Brazil, holds 60%.

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AIPEF chairman calls claim to provide choice to power consumers "misleading"

The AIPEF has demanded that the bill be referred to the Parliamentary Standing Committee on Energy for wider consultation in a letter to Prime Minister Narendra Modi.

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India should set up small modular reactors to meet energy demands: Niti member V K Saraswat

"The net-zero targets are expected to be met through a combination of various clean energy sources, including nuclear power. In this context, the present nuclear power capacity of 6,780 MW is planned to be increased to 22,480 MW by 2031 on progressive completion of projects under construction and accorded sanction. More nuclear power reactors are planned in future," Singh had said.

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SJVN bags 200 MW solar project worth Rs 1,200 crore in Maharashtra

SJVN has bagged the full quoted capacity of the 200 MW solar project at the rate of Rs 2.90 per unit on a build-own - and operate basis

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Southern Railway saves around Rs 55 crore by tapping solar, wind power

The solar power panels have been installed at various locations across the region and Southern Railway said it was working towards increasing capacity of solar plants

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NTPC fully commission 296 MW Fatehgarh solar project

With this, the standalone installed and commercial capacity of NTPC will become 55,068 MW, while the group's installed and commercial capacity will become 69,433 MW

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Amp Energy to supply 100 MW solar power to Rewa Ultra Mega Solar Ltd

The floating solar project is under BOOT model for a fixed tariff of Rs 3.21 per unit for 25 years. It will generate about 198 million units (MUs) of green energy per year

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India plans contentious law to cut $75 billion utility debt

The matter is contentious because several state governments promise free electricity to lure voters. Politicians then press regulators to prescribe artificially low tariffs or local administrations fail to transfer subsidies; money-losing retailers delay payments to power generators, grid operators and coal suppliers, weakening the entire supply chain.

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Electricity Bill moots radical changes in retail distribution

The Union cabinet on Wednesday cleared a bill that is expected to be introduced in Parliament next week, people aware of details told ET.

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India keeps renewables target flexible, goal of 500 GW green energy by 2030 dropped

The updated NDC proposes about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030, dropping the 500 GW absolute target committed at COP26.

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DCM Shriram to source 50 MW renewable energy from ReNew Power

The agreements will see 50 MW of renewable energy supplied from ReNew's two upcoming projects in Bhavnagar, Gujarat, to DCM Shriram's Chlor-Alkali manufacturing facility in Bharuch district, according to a regulatory filing.

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ONGC, Greenko plan to export green ammonia produced under MoU

Accordingly the tradeoff between the production costs by using economies of scale and exports to demand centers will be carried out

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Former Gazprom unit cuts LNG supplies to India

The US and European nations have imposed heavy sanctions on Russia since Moscow sent troops into Ukraine on February 24. Some western oil firms have announced exit from Russian projects and Indian firms are being considered a natural candidate to step in.

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Greenko secures Rs 5,500 cr loan for first off-river power storage project

Greenko, which is majority owned by Singapore's sovereign wealth fund GIC, is developing around 8 gigawatts of renewable energy capacity. It counts among its other investors Japan's Orix and Abu Dhabi Investment Authority. The founders, Anil Kumar Chalamalasetty and Mahesh Kolli, own a little under 10% stake in the company.

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Greenko secures Rs 5,500 cr loan for first off-river power storage project

Greenko, which is majority owned by Singapore's sovereign wealth fund GIC, is developing around 8 gigawatts of renewable energy capacity. It counts among its other investors Japan's Orix and Abu Dhabi Investment Authority. The founders, Anil Kumar Chalamalasetty and Mahesh Kolli, own a little under 10% stake in the company.

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Odisha to refund excess royalty on inferior coal

Coal consumers claim refunds from Coal India subsidiaries and Singareni Collieries Company Ltd in case they are delivered a lower grade of coal than paid for. These companies issue credit notes in such cases that can be adjusted in future payments.

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Solar power opens the door to banking for rural Indians

All that changed after the building was fitted with a set of solar panels and backup storage batteries in 2018, breaking the bank's reliance on the power grid and giving it a steady supply of clean electricity.

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Greenko secures Rs 5,500 cr loan for first off-river power storage project

Greenko, which is majority owned by Singapore's sovereign wealth fund GIC, is developing around 8 gigawatts of renewable energy capacity. It counts among its other investors Japan's Orix and Abu Dhabi Investment Authority. The founders, Anil Kumar Chalamalasetty and Mahesh Kolli, own a little under 10% stake in the company.

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CNG, PNG prices go up again in Mumbai

The last increase came into effect on July 12 when MGL hiked the retail price of CNG by Rs 6 per kilogram and PNG by Rs 3/SCM.

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Adani Green Energy Ltd announces Q1 FY23 results

The company's operational capacity increased by 65 per cent YoY to 5,800 MW. It also commissioned India's first solar-wind hybrid project of 390MW at Jaisalmer in Rajasthan.

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Adani and RIL plan biogas foray, each to invest 600 cr

Adani and RIL are planning to set up two compressed biogas (CBG) plants each.

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Nod to Tata Power JV's takeover of UP Transmission Co

South East UP Power Transmission Company by Resurgent Power Ventures, a JV between Tata Power and ICICI Bank. It had emerged as the highest bidder in February, quoting ₹3,251 crore upfront payment for the stressed transmission asset under insolvency.

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Centre weighs new segment on power bourses for costly projects

Spot electricity prices on power exchanges are capped at ₹12 per unit. The proposal seeks to ensure increased electricity availability while also reviving these non-operational projects. Nearly 24 GW of gas-based capacity and 17 GW of imported coal-based capacity is either idle or under-utilised due to a lack of buyers since per unit prices are high because of steep fuel costs.

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'Oil prices could decline to $90/barrel in two months'

"Prices can touch $90 in two months if the US continues with inflation and low growth and China is unable to find fixes for its economic troubles. Economic woes in these two countries can affect demand," BPCL chairman Arun Kumar Singh told ET in an interview.

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India hikes petroleum crude export tax, cuts jet fuel and diesel taxes

India raised petroleum crude tax to Rs 17,750 per tonne from Rs 17,000 per tonne, while cutting the tax on jet fuel to zero from Rs 4 per litre and diesel to Rs 5 per litre from Rs 11 per litre.

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MGL hikes CNG price by Rs 6 per kg, PNG by Rs 4 a unit

The Centre had increased the price of domestic and imported natural gas by over 110 per cent from April 1. This had completely offset the steep price reduction announced by the state by way of slashing VAT on these fuels to 3.5 per cent from 13.5 per cent from April 1.

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Surge in natural gas imports by Europe hits India's supplies

IndianOil's tender for a spot liquefied natural gas (LNG) cargo received no bids recently, according to people familiar with the matter. Even LNG contracted under long-term deals is no longer secure as Russia's Gazprom has suspended supplies to GAIL, they said.

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TERI, REMC to collaborate for developing Indian Railways' green projects

Under the Memorandum of Understanding (MoU) signed between the two organisations on Monday, they aim to collaborate on areas related to green building, performance audit, energy efficiency projects, research work related to net-zero targets of the railways.

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Surge in natural gas imports by Europe hits India's supplies

Supply cuts by Russia have set off panic in Europe, which is bidding up LNG prices and pulling cargoes from all directions to fill its storage ahead of winter when increased heating needs boost gas demand.

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CNG vehicles, households to pay 18% more for gas now

GAIL supplies the gas, a blend of domestic and imported LNG, at a uniform rate to city gas companies, which are expected to pass on the increase to consumers of CNG and piped kitchen fuel. Green Gas Ltd raised CNG rates Monday by ₹5.3 per kg in Lucknow to ₹96.10 per kg.

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