Power Financial News

India and Nepal approved plans to enhance their cross-border transmission infrastructure to boost electricity trade during 14th meeting of Joint Technical Team (JTT), reported India Narrative. During the JTT meeting under Energy Secretary Level Joint Steering Committee (JSC) held in New Delhi on September 20, the two nations reached an understanding to expand capacity of the 400kV Dhalkebar-Muzaffarpur Cross Border Transmission Line and speed up the completion of smaller capacity cross-border power lines that are currently under construction. Joint secretary at Ministry of Energy, Water Resources and Irrigation Sandeep Kumra Dev said, "The understanding will go into implementation, once the next JSC meeting endorses the understanding," reported India Narrative.

UN Security Council meeting on Moscow's invasion of his country when Russian Ambassador Vassily Nebenzia objected to him taking the floor at the start of the meeting, according to Reuters reports. Albanian Prime Minister Edi Rama responded with a gibe at Moscow, which has long said the invasion does not amount to war but was a mere "special military operation". "I want to assure our Russian colleagues and everyone here that this is not a special operation by the Albanian presidency," Rama, known for a piercing sense of humor, said to muted laughter across the room, Reuters reported.

Environmental activists are praising President Joe Biden's New Deal-style American Climate Corps

NEW DELHI : Billionaire Naveen Jindal, via a privately held unit, plans to set up a steel mill in Nigeria and a power plant in Botswana to serve the African market, two people familiar with the development said. As part of the plan, Vulcan Steel, a privately held company by the Jindal family, has decided to build a 3 million tonne per annum (mtpa) capacity steel plant, while Jindal Power Ltd, another privately held unit, will set up the thermal power unit, which will produce as much as 600 megawatts (MW) at peak capacity. The entities controlled by Jindal have secured minerals and power purchase agreements in both nations.

MUMBAI : Adani Green Energy Ltd, which is planning to raise $1.5 billion, may secure a big chunk of it from French energy giant TotalEnergies SE, two people aware of the matter said. The Gautam Adani-led group’s renewables firm will use $750 million of this amount to repay bonds. “Adani Green has got an approval to raise $1.5 billion this fiscal for capex and debt repayment.

Nifty settled with losses on Wednesday, September 20, extending the decline into the second consecutive session amid mixed global cues ahead of the US Fed policy outcome. US bond yields surging to 16-year high levels and fears of high crude oil prices fueling commodity inflation also hit the investor sentiment, according to analysts.

Adani Power Ltd. dropped 2.09 per cent to Rs 366.95 at 02:05PM (IST) in Wednesday's trade.

Tata Power Company Ltd. traded at Rs 263.8 on BSE at 12:43PM (IST) on Wednesday, down 0.62 per cent from previous close. The stock quoted a 52-week low price of Rs 182.45 and a high of Rs 276.5. Earlier, the stock saw a gap down opening in the morning. A total of 216,639 lakh shares changed hands on the counter till 12:43PM (IST). The stock of Tata Power Company Ltd.

Jyoti Structures(up 4.89%), Alstom T&D India(up 4.27%), JSW Energy(up 2.93%), Karma Energy(up 1.73%), Inox wind(up 1.12%), Transformers and Rectifiers(India)(up 1.11%), GE Power India Limited(up 1.03%), Suzlon Energy(up 1.01%), Power Grid Corporation of India(up 0.80%) and NTPC(up 0.66%) were among the top gainers. PTC India(down 7.50%), KPI Green Energy(down 2.25%), Kalpataru Projects International(down 2.10%), Power & Instrumentation(Gujarat)(down 1.91%), NHPC(down 1.48%), Reliance Power(down 1.31%), Adani Power(down 1.19%), Energy Development Company(down 1.00%), ADANIGREEN(down 0.99%) and Jaiprakash Power Ventures(down 0.97%) were among the top losers. The NSE Nifty50 index was trading 163.5 points down at 19969.8, while the 30-share BSE Sensex was down 572.98 points at 67023.86 at around 10:34AM. Axis Bank Ltd.(up 1.51%), Bajaj Auto Ltd.(up 1.08%), Coal India Ltd.(up 1.03%), Power Grid Corporation of India Ltd.(up 0.82%), Oil And Natural Gas Corporation Ltd.(up 0.69%), NTPC Ltd.(up 0.66%), Mahindra & Mahindra Ltd.(up 0.65%), Sun Pharmaceutical Industries Ltd.(up 0.6%), Bajaj Finance Ltd.(up 0.51%) and Tata Motors Ltd.(up 0.37%) were among the top gainers in the Nifty pack. On the other hand, HDFC Bank Ltd.(down 3.83%), Apollo Hospitals Enterprise Ltd.(down 2.13%), Reliance Industries Ltd.(down 1.66%), Britannia Industries Ltd.(down 1.52%), Bharat Petroleum Corporation Ltd.(down 1.41%), Tata Consumer Products Ltd.(down 1.35%), UPL Ltd.(down 1.26%), HDFC Life Insurance Company Ltd.(down 1.24%), Tech Mahindra Ltd.(down 1.21%) and JSW Steel Ltd.(down 1.14%) were trading in the red.

Nevertheless, any possible nuclear fuel solutions for ships are at least 10 years away they added.Shipping accounts for nearly 3% of global CO2 emissions and the industry is under pressure from investors and environmentalists to find cleaner fuel solutions, which include ammonia, methanol and wind. Nuclear energy has been used in the past to power military submarines and icebreakers, although its use by merchant ships has been constrained partly by the cost, but also due wariness by insurers of providing cover for ships going into commercial ports without more understanding of the risks involved. A survey in May by the International Chamber of Shipping association said nuclear fuel was being viewed with more interest than in 2021, with some seeing nuclear-powered commercial ships being viable within the next decade. Small and mass-produced reactors, which are envisaged to be fitted onboard ships, are less powerful and consume less nuclear fuel than traditional nuclear sites. «The development of the fourth modular nuclear reactors generation is paving the way for possible future applications on board of ships,» a spokesperson with Italy-based shipbuilder Fincantieri said, referring to the smaller nuclear plants. «At the moment, several technology providers are dealing with manufacturing of prototypes, the development processes of which are at different levels of maturity, envisaging more or less a decade before completing proof of concepts.» Fincantieri was «interested in following the evolution of these technologies which may result in significant contribution to the decarbonisation of ships related to our core business», which is cruise liners, naval ships and specialised vessels, the spokesperson added. Italy's RINA,

Cryptocurrency miners have a new voice in Washington with the launch of the Digital Power Network (DPN), a new coalition affiliated with the Chamber of Digital Commerce. The network is off to a promising start, with many of the United States’ biggest miners on board.

₹7,000 crore in its home and personal care (HPC) business, and ₹5,000 crore for its healthcare business. Furthermore, Dabur aims to drive double digit growth in the food and beverages (F&B) business. Its domestic business has three key verticals: HPC, healthcare, and F&B, which reported revenues of ₹3,845 crore, ₹2,581 crore and ₹1,724 crore (excluding contribution from Badshah Masala acquisition), respectively, in FY23.

Jindal Steel and Power on Monday said its chairman Naveen Jindal will be re-designated as non-executive director from October 1, 2023. The term of appointment of Naveen Jindal as Executive Director, designated as Chairman, is due to end on September 30, 2023, the steel maker said in a filing to BSE. «Naveen Jindal has chosen to continue on the Board in the capacity of Non-Executive Chairman, with effect from October 1, 2023.

Energy efficiency is a key focus in the new Parliament building's lighting, and the structure will consume over 50 per cent less power than the conventional system, according to an industry official. The building, inaugurated in May this year and is set to host its maiden session from Tuesday, also has a lot of customised lighting and even chandeliers, a senior official from a vendor handling a part of the lighting said recently. «We are...delivering products, which are very energy efficient.

Power Grid Corporation of India Ltd (up 3.12%), Titan Company Ltd (up 2.66%), HDFC Life Insurance Company Ltd (up 2.43%), Mahindra & Mahindra Ltd (up 2.26%), and Bharat Petroleum Corporation Ltd (up 2.26%)were among the top gainers of Nifty 50. Hindalco Industries Ltd (down 2.19%), HDFC Bank Ltd (down 1.93%), Adani Ports and Special Economic Zone Ltd (down 1.80%), and Dr Reddy's Laboratories Ltd (down 1.68%) were among the laggards today. Indian stock indices touched fresh highs on Friday, largely due to strong cues from US markets and consistent fund inflows by foreign portfolio investors.

Railway Board has stressed on the need for dedicated coal corridors to meet the growing power demand in the country. The majority of the coal flows from the states of Odisha, Jharkhand, and Chhattisgarh to the north, west, and southeast of the country, there is a need to develop tracks exclusively for coal movement on these routes, the report on estimation of coal transportation by Rail-2030 said. “It is necessary to create coal corridors in these routes in line with Dedicated Freight Corridors (DFC),” the report said adding that the East-Coast DFC corridors as well as the eastern part of the East-West DFC corridors have to be developed on priority to provide access to coal mainly from Talacher to Ports dotting the eastern coastline. According to the estimation, energy requirements of India will annually increase to approximately 3000 billion units (BU) by 2030.

Industrial action is set to disrupt operations from Thursday at one of Queensland’s biggest power stations, posing a fresh threat to the east coast’s electricity grid already under strain due to an extended unit closure.

Adani Power Ltd. dropped 0.84 per cent to Rs 376.0 at 01:25PM (IST) in Monday's trade.

Tata Power Company Ltd. traded 0.54 per cent up at Rs 265.25 at 12:14PM (IST) on Monday, even as BSE benchmark Sensex dropped 91.67 points to 67746.96.

reporting more than 33,000 customers were still without power, and NB Power was reporting over 3,000 customers in the dark.“This morning, our day crews are back out across the province assessing damage, removing trees from lines and repairing equipment,” read a social media post from Nova Scotia Power.The electrical utility said about 277,000 customers experienced outages since the storm’s arrival.“Crews were able to restore power to approximately 170,000 customers and we expect to get a significant amount more back on today,” the statement said.“Damage from the tropical storm force winds and heavy rain ranges from broken power poles and uprooted trees, to downed power lines, localized flooding, and road closures.”Nova Scotia Power has begun operating helicopters and drones throughout the province to assist with damage assessment during their restoration process.Matt Drover, storm lead for Nova Scotia Power, said despite not having an estimate for full restoration, a “significant” number of customers should regain power on Sunday.“Our goal (to restore power) is as soon as possible, we know how impactful this is for everybody, we’re working around the clock,” he said during an interview with Global News, adding that more than 800 employees are currently working to restore power throughout the province.“We know it will be a few days … however, we will see a significant number restored today.

The face of South Australian business says nuclear is a “logical solution” and could be introduced in little more than five years, after being collectively slugged hundreds of millions of dollars from the energy market operator’s interventions to keep the lights on.