Category: Power

State-owned REC Ltd on Sunday said it has received RBI’s approval to set up a subsidiary in GIFT City, Gujarat. The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services, a company statement said. According to the statement, REC Ltd, under […]

Bengaluru-based electric vehicle startup Pravaig Dynamics has made offers to Tesla interns, who saw their offers getting revoked weeks before their start date, inviting them to join the Silicon Valley of India that will recognize and appreciate their talents. Tech billionaire Elon Musk’s latest cost-cutting victims are summer interns with his flagship Tesla Inc, rescinding […]

Ola’s AI platform Krutrim will compete with global technology majors in building energy-efficient data centres and offer cloud services at the lowest price for the development of artificial intelligence, its founder Bhvish Aggarwal said. While speaking at an event, Aggarwal announced an AI cloud platform – Krutrim Cloud – to enterprises, researchers, and developers at […]

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). […]

In the wake of the Kerala government coming out with certain proposals to control power consumption during peak hours, the southern state saved around 200 megawatts of electricity on May 3. The achievement was highlighted by state Electricity Minister K Krishnankutty who on Saturday said the power saving was thanks to the cooperation of the […]

Bengaluru-based electric vehicle startup Pravaig Dynamics has made offers to Tesla interns, who saw their offers getting revoked weeks before their start date, inviting them to join the Silicon Valley of India that will recognize and appreciate their talents. Tech billionaire Elon Musk’s latest cost-cutting victims are summer interns with his flagship Tesla Inc, rescinding […]

Adani Green Energy Ltd (AGEL) on Friday posted a 38.85 per cent decline in consolidated net profit to Rs 310 crore for the March quarter, mainly on account of increased expenses. Its net profit was Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing. During the […]

Six Adani Group firms have come under the Securities and Exchange Board of India (Sebi) lens and have received show-cause notices for alleged breaches in related party transactions and non-compliance with listing regulations, said the companies in their regulatory filings to the stock exchanges. Among these, Adani Enterprises, the flagship of Gautam Adani’s business empire, […]

Energy storage systems are critical to increase the share of power generated through renewable energy sources, according to Icra. The share of renewable energy power generation, including large hydro, to India’s total power production will increase to close to 40 per cent by FY2030 from less than 25 per cent currently, the rating agency said […]

REC stock price hit a record high of Rs 555.45 apiece on the BSE, after it soared 9.5 per cent in Thursday’s intraday trade. The stock has extended its rally into the second day after its January to March quarter results. In two days, REC stock price has leaped nearly 20 per cent after it […]

Sales rise 40.18% to Rs 4706.85 crore Net profit of Adani Energy Solutions declined 7.19% to Rs 361.44 crore in the quarter ended March 2024 as against Rs 389.45 crore during the previous quarter ended March 2023. Sales rose 40.18% to Rs 4706.85 crore in the quarter ended March 2024 as against Rs 3357.66 crore […]

Elon Musk’s abrupt decision to lay off employees who ran Tesla’s electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday. For now, General Motors, Ford and other automakers which struck deals last year to give customers access […]