Jaipur-based Polaris Smart Metering secured ₹5,200 crore contracts from Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) for smart prepaid metering in Uttar Pradesh. The deal covers installation of 5.1 million smart meters in Lucknow and Ayodhya/Devipatan clusters over the next 27 months. As per the agreement, Polaris Smart Metering will provide, commission, install, and maintain smart […]
Day: January 29, 2024
Nigeria oil enters unclear new era after Shell’s onshore asset sale
Shell’s exit from Nigeria’s onshore oil sector highlights risks oil majors face in Africa’s biggest exporter but has raised hopes that local firms could reverse the output decline from the Niger Delta, industry officials and analysts said. Shell – which pioneered Nigeria’s oil industry – is the most prominent Western company to exit the Delta, […]
Inox Wind’s 3 MW turbines enlisted in revised list of models and manufacturers by MNRE
Inox Wind on Monday said its 3-megawatt (MW) wind turbine generator has been enlisted in the revised list of models and manufacturers (RLMM), published by the Ministry of New and Renewable Energy (MNRE), Government of India. With multiple orders aggregating above 550 MW already in hand for the 3 MW turbines, and with RLMM in […]
Indian Railways sets record with highest-ever Capex utilization in 9 months of this fiscal year
In a remarkable achievement, Indian Railways has reported its highest-ever capital expenditure (Capex) utilization, reaching an impressive 75 per cent during the initial nine months of the current fiscal year from April 1, 2023, to December 31, 2023. As per the official data provided by the Ministry, the Railways has demonstrated its commitment to infrastructural […]
Healthy energy demand, rising thermal PLF to necessitate an incremental thermal capacity by 2030, says ICRA
The all-India thermal plant load factor (PLF) is expected to continue to improve to 69.0 per cent in FY2025 from about 68.0 per cent projected for FY2024, said a report by ICRA. This, it added, will be led by the growth in electricity demand and limited thermal capacity addition. ICRA’s outlook for the thermal power […]
Finance Ministry reduces capital allocation to OMC’s, may hit clean energy initiative
The Finance Ministry has reduced capital allocation to state-owned Oil Marketing Companies (OMCs) to Rs 15,000 crore from the earlier provision of Rs 30,000 crore. The Capital allocation was aimed to support the investment in energy transition projects and also compensate the companies that had suffered huge losses in 2022 due to the spike in […]
Delhi HC comes down heavily on SpiceJet, asks carrier to cough up $4 mn by Feb 15 on lessors’ plea
The Delhi High Court on Monday asked budget carrier SpiceJet to pay $4 million to its engine lessors Team France 01 SA and Sunbird France 02 SAS by February 15. Seeking more time for payment, the carrier said they could pay $1 million upfront and the balance in a staggered manner. SpiceJet is supposed to […]
ALMM to keep margins of solar module makers at 12-14 per cent next fiscal: CRISIL
The implementation of the Approved List of Models and Manufacturers (ALMM) from April 1, 2024, is expected to help keep operating margins of domestic module makers strong at 12-14 per cent in FY25, in line with the level likely this fiscal, according to research agency, CRISIL. It added that healthy domestic and export demand will […]
Adani Green Q3 result: Net profit more than doubles to Rs 256 crore
Adani Green Energy Ltd (AGEL on Monday reported a 148.5 per cent jump in its net profit for the quarter that ended on December 31, 2023, at Rs 256 crore as compared to Rs 103 crore in the same quarter in 2022. Sequentially, the net profit was down 30.9 per cent from Rs 371 crore […]
Surge in foreign tourists; 1,057 new roads on anvil: J&K Adviser on R-Day
The government of Jammu and Kashmir on Friday said it had not only improved healthcare infrastructure in J&K, achieving TB-free status in districts like Pulwama and Anantnag, but also witnessed unprecedented tourism growth, with over 1.88 crore tourist visits recorded in 2022, including foreigners. Advanced road connectivity had been achieved through initiatives like the Prime […]
Breakthrough achieved in strategic Nowshera tunnel
The Border Roads Organisation (BRO) has achieved a breakthrough in the strategic Nowshera tunnel work which will reduce considerably the distance between Jammu and Poonch districts, located along the Line of Control (LoC). The Jammu-Poonch road, also called the Golden Arc road, is a very old and strategic 200-km stretch that connects the volatile Poonch […]
Paonta Sahib: Power supply of school snapped over Rs 5,000 dues
Electricity supply to the government primary school at Salwala in Paonta Sahib subdivision has been disconnected amidst extreme cold weather conditions over a pending bill of Rs 5,000. School Management Committee member Vinod Choudhary said it was lamentable that the state government had become so poor that it was not able to pay electricity bills […]