Avaada Energy arm Avaada Inclean has inked a pact with Damodar Valley Corporation (DVC) to supply electricity from its 421 MW solar project in Gujarat. The company is planning to set up a 421 MW solar photovoltaic power project in Gujarat, a statement said. Avaada Energy has signed a 25-year Power Purchase Agreement (PPA) with […]
Day: March 20, 2024
Rio Tinto to invest $350 million in Argentina lithium project
Global miner Rio Tinto will invest $350 million at its Rincon lithium plant in Argentina as it works to begin production by the end of the year, the company said this week following Chief Executive Jakob Stausholm’s visit to the site. “The hard work of our Rincon team is laying the groundwork for our first […]
Railway Board directs zones to reduce unnecessary paperwork for loco pilots to enhance safety
In an effort to enhance the safety of Indian Railways services, the Railway Board on Tuesday directed all its zones to reduce paperwork of drivers and assistant drivers while they are operating trains. While elaborating on the paperwork of railways drivers, a senior railway official said, “Loco pilot and assistant loco pilot have to maintain […]
No oil and gas majors aligned with climate targets: report
All major oil and gas companies plan fossil fuel expansion incompatible with limiting warming to 1.5 degrees Celsius, a new report said Wednesday. The assessment of the 25 largest listed fossil fuel firms by the think-tank Carbon Tracker is designed to enable investors to judge whether the firms are in line with internationally agreed climate […]
MoRTH amends model concession agreements for BOT and TOT projects
The ministry of road transport and highways (MoRTH) have made over a dozen changes to the model concession agreement for build-operate-transfer (BOT) and tolling, operation, maintenance and Transfer (TOT) model to incentivise private sector to invest in creation of road infrastructure and to remove any ambiguity in the existing agreements. Some of the key amendments […]
India’s mineral production grows nearly 6% in January
India’s mineral production from mining and quarrying grew 5.9% year-on-year, a PIB report said on Wednesday. The country produced over 99.8 million tonnes of coal in the period on the back of rising power demand. India, the world’s second-largest coal user, generated record-high coal-fired electricity in January as rising demand for air conditioning meant that […]
India’s first battery storage gigafactory to start operating by October
GoodEnough Energy said on Tuesday it will start operations at India’s first battery energy storage gigafactory in the northern region of Jammu and Kashmir by October. The facility will help industry in cutting more than 5 million tons of carbon emissions in a year, GoodEnough said in a statement. India has set a 2070 goal […]
Masdar, Gentari, others eye majority stake in Ayana Renewable Power
Mumbai: About half a dozen investors, including Abu Dhabi’s Masdar Clean Energy, Petronas-owned Gentari, Singapore’s Sembcorp, PSP Investments and Brookfield, are vying to acquire Ayana Renewable Power, a clean energy platform owned by the National Investment and Infrastructure Fund (NIIF), multiple people aware of the talks told ET. The majority stake sale will value Ayana’s […]
Avaada Inclean inks pact with DVC to supply electricity in Gujarat
New Delhi: Avaada Energy arm Avaada Inclean has inked a pact with state-owned Damodar Valley Corporation to supply electricity in Gujarat. The company is planning to set up a 421 MWp capacity solar PV power project in Gujarat, the company said in a statement on Tuesday. According to the statement, Avaada Energy, the renewable energy […]
BPCL: Bharat Petroleum signs 4-month US oil purchase deal with BP, sources say
Indian state-run oil refiner Bharat Petroleum Corp has signed a deal with BP to buy 1 million barrels per month of U.S. West Texas Intermediate (WTI) crude for four months, trade sources said. BPCL would start taking delivery of the oil from June, they said.
India’s dependence on LNG imports may fall to 45% in FY26
MUMBAI: With the increase in domestic natural gas production, India’s dependency on imported liquefied natural gas (LNG) is expected to fall to about 45% of total consumption in 2025-26 after gradually declining from 53% in 2020-21, CareEdge Ratings said in a report on Tuesday. The higher demand is expected to be supported by sizeable growth […]
India to record its highest-ever gas consumption annually in FY24: CareEdge Ratings
With the rise in domestic natural gas production, India’s dependency on imported LNG or liquefied natural gas, which stood at 53% of total consumption in FY21, has gradually declined over the last three years and is expected to remain at around 45% by FY26, said CareEdge Ratings in a report on Tuesday. The higher demand […]