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Narendra Modi accompanied by his Singapore counterpart Lawrence Wong on Thursday visited a leading Singaporean semiconductor company and also signed an MoU on India-Singapore Semiconductor Ecosystem Partnership. Around the same time Maharashtra cabinet panel approved a $10-billion (₹83,947 crore) investment proposal by a joint venture between Israel's Tower Semiconductor and Adani Group to set up a semiconductor chip manufacturing unit at Taloja. A few days earlier, the Union Cabinet had approved setting up of an Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat by Kaynes Semicon with a Rs. 3,307 crore investment. The capacity of this unit will be 63 lakh chips per day. Now, ET has reported that the Indian Semiconductor Mission (ISM) is likely to receive a second budgetary allocation of up to $ 10 billion ISM, a division within the Digital India Corporation tasked with furthering the country’s semiconductor manufacturing, packaging, and design capabilities was first established in 2022 with a budgetary allocation of $10 billion. The government will have to seek fresh funding under the ISM as it has almost exhausted the funds in the first phase which saw approvals of $11 billion, an official has told ET. Before nod to Kaynes and Tower-Adani plants, India had approved five chip plants: two by the Tata Group in Assam and Gujarat; and one each by Micron and CG Power in Gujarat and by RRP Electronics in Maharashtra.

India is projected to become a USD $5 trillion economy by 2047. This growth is expected to be driven by a few major factors, key amongst which is a stronger, more robust, streamlined, organised, and efficient logistics and transport infrastructure. The recently announced Union Budget and the broader Amrit Kaal 2047 vision — the government’s active effort to make India an export-led, aatmanirbhar economy — all seek to lay a strong foundation for an organised logistics sector in India. Why? Because the logistics sector, one way or another, will be a significant economic driver for the country in coming years. Consider this: India’s current contribution to global exports stands below 2%. By undertaking strategic capacity building for the logistics sector, the government can, not just boost the economy in the short and medium terms but also supercharge long-term development and economic activity with a massive headroom for growth. Increasing the country’s participation in international value chains through a more organised logistics sector has, therefore, emerged as a clear policy priority — and key players in the space can contribute significantly to this nation building project.

Ravindra Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 2.43%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Inox Wind Ltd.(up 1.54%), Torrent Power Ltd.(up 1.29%), KEC International Ltd.(up 0.52%) and Inox Wind Energy Ltd.(up 0.33%) stood among the top gainers.

KEC International Ltd.(up 5.98%), Ravindra Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), NLC India Ltd.(up 3.26%), Suzlon Energy Ltd.(up 2.49%), JSW Energy Ltd.(up 2.29%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), PTC India Ltd.(up 1.42%), Transformers & Rectifiers(India)Ltd.(up 1.23%) and GE T&D India Ltd.(up 1.22%) stood among the top gainers.

TORONTO — The Insurance Bureau of Canada says this summer saw a record number of insurance claims driven by four major weather events and natural disasters over the span of four weeks.

The Insurance Bureau of Canada says this summer saw a record number of insurance claims driven by four major weather events and natural disasters over the span of four weeks.

Ravindra Energy Ltd.(up 5.00%), Suzlon Energy Ltd.(up 3.07%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Energy Development Company Ltd.(up 1.83%), Gujarat Industries Power Company Ltd.(up 1.61%), Inox Wind Ltd.(up 1.35%), PTC India Ltd.(up 1.32%), Jaiprakash Power Ventures Ltd.(up 1.23%), GE Power India Ltd.(up 1.16%) and NLC India Ltd.(up 0.93%) were among the top gainers.

Jyoti Structures Ltd.(up 3.18%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Suzlon Energy Ltd.(up 1.89%), GE T&D India Ltd.(up 1.16%), Tata Power Company Ltd.(up 0.76%), India Power Corporation Ltd.(up 0.51%), Reliance Power Ltd.(up 0.49%), JSW Energy Ltd.(up 0.48%), KEC International Ltd.(up 0.46%) and PTC India Ltd.(up 0.36%) stood among the top gainers.

Indo Tech Transformers Ltd.(up 5.00%), Neueon Towers Ltd.(up 4.92%), Inox Wind Ltd.(up 3.31%), NTPC Ltd.(up 3.21%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Gujarat Industries Power Company Ltd.(up 1.73%), KEC International Ltd.(up 1.69%), Jyoti Structures Ltd.(up 1.69%), JSW Energy Ltd.(up 1.67%) and Tata Power Company Ltd.(up 1.09%) stood among the top gainers.

Minnesota had a half-century-old process for permitting clean energy projects that could keep developers waiting over a year for approval

Karma Energy Ltd.(up 5.00%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), GE T&D India Ltd.(up 4.75%), Energy Development Company Ltd.(up 4.29%), Kalpataru Projects International Ltd.(up 3.70%), Jyoti Structures Ltd.(up 3.68%), Indowind Energy Ltd.(up 2.64%), Power and Instrumentation(Gujarat)Ltd.(up 2.01%) and Inox Wind Energy Ltd.(up 1.74%) stood among the top gainers.

Adani Power Ltd's resolution plan to acquire Lanco Amarkantak Power Ltd (LAPL) through the insolvency resolution process. The company has admitted liabilities of Rs 15, 633 crore. Gautam Adani promoted listed power company had proposed to pay Rs 4,101 crore to acquire it through the bankruptcy process. “Successful acquisition and implementation of the resolution plan for acquisition of LAPL will advance APL's (Adani Power) position as India’s leading private sector power producer, with a combined operational power generation capacity of 15,850 MW,” said Adani Power in its stock exchange filing on Thursday.

Akshay Urja Day on August 20th, it's a great time to take pride in how far India has come in using renewable energy. It is also time to look at how advanced technologies are going to shape our future brighter. This day, marking the birth anniversary of former Prime Minister Rajiv Gandhi, highlights the importance of renewable energy in our journey towards a cleaner, greener planet. Solar Power in Indian Homes India's use of solar energy has grown rapidly.

NCLAT on Wednesday directed the resolution professional of SKS Power Generation to submit and bring on record the e-mail sent to the successful bidder, Sarda Energy and Mining on May 8, 2023, seeking clarifications over its resolution plan. A three-member bench has directed the RP to file an affidavit with the e-mail having communications between the SRA (successful resolution applicant) Sarda Energy and the RP and directed to list the matter on August 30 for the next hearing. NCLAT was hearing the appeals filed by Torrent Power and Singapore-based Vantage Point Asset Management Pte, against the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on August 13, approved Sarda Energy and Mining's (SEML) bid. Both the petitioners were also in the race to acquire the debt-ridden thermal power producer and opposed the selection of SEML's bid by the CoC. NCLT had rejected their pleas against approval of SEML's bid.

Orient Green Power Company Ltd.(up 10.01%), India Power Corporation Ltd.(up 6.97%), CESC Ltd.(up 6.14%), GE Power India Ltd.(up 5.00%), Reliance Power Ltd.(up 5.00%), Ravindra Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.97%), Jaiprakash Power Ventures Ltd.(up 3.76%) and Gujarat Industries Power Company Ltd.(up 2.99%) stood among the top gainers.

GE Power India Ltd (GPIL) on Wednesday said its Managing Director Prashant Jain has resigned. The board has appointed Puneet Bhatla as Additional Director and Managing Director from September 1, 2024, to June 30, 2027 subject to the approval of members, the company said in an exchange filing. «The board in its meeting held today...accepted resignation of Prashant Jain from the position of Managing Director with effect from close of business hours of 31 August 2024,» it added.

Mint earlier reported about Macquarie Group, JSW Neo Energy, and Actis Llp signing NDAs to buy O2 Power. Barclays is running the sale process for the deal having an equity and enterprise value of around $1 billion and $2.3 billion respectively. The next stage involves shortlisting the NBOs to give selected bidders full data room access, after which the binding bids will be submitted.

₹2,400-3,000 crore, translating to ₹4-5 crore per MW, the people cited above said on the condition of anonymity. A potential acquisition would help India's largest private thermal power producer capitalize on the rising electricity demand in the country. "Adani Power is negotiating with CFM Asset Reconstruction Co.

Voltamp Transformers Ltd.(up 6.82%), Hitachi Energy India Ltd.(up 6.37%), Inox Wind Energy Ltd.(up 5.00%), Reliance Power Ltd.(up 4.98%), Jyoti Structures Ltd.(up 4.38%), Suzlon Energy Ltd.(up 4.15%), Adani Power Ltd.(up 3.47%), JSW Energy Ltd.(up 2.96%), GE T&D India Ltd.(up 2.96%) and Indo Tech Transformers Ltd.(up 2.80%) stood among the top gainers.

Adani Power said on Thursday it was committed to supplying electricity to Bangladesh, saying a recent amendment to power export rules does not affect its existing contract. The amendment by the government facilitates connectivity to the Indian grid but does not impose any obligation on India to buy electricity, Adani Power said in a statement. «Adani Power is committed to fulfil contractual obligations as per Bangladesh Power Development Board's demand schedule and provisions of the power purchase agreement and would look forward to continuing reciprocal fulfilment,» Adani Power said.

Inox Wind Energy Ltd.(up 10.00%), Inox Wind Ltd.(up 7.55%), Indo Tech Transformers Ltd.(up 5.00%), Adani Energy Solutions Ltd.(up 2.58%), GE T&D India Ltd.(up 2.28%), Karma Energy Ltd.(up 2.02%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Suzlon Energy Ltd.(up 1.55%), Adani Green Energy Ltd.(up 1.38%) and PTC India Ltd.(up 1.21%) were among the top gainers.