Power Financial News

US International Development Finance Corporation has approved a financial aid of up to USD 425 million (Rs 3,521 crore) to Tata Power Renewable Energy Ltd for setting up a 4.3 GW solar cell in Tamil Nadu by its subsidiary. The plant's first module production is expected by year-end and the first cell production is expected in the first quarter of the financial year 2024-25 (FY25), Tata Power Renewable Energy Ltd (TPREL) said in a statement on Monday. «The US International Development Finance Corporation board of directors approved USD 425 million of financing in TP Solar Ltd, a subsidiary of TPREL, for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli,» the statement said. «We appreciate the DFC's assistance for our solar cell and module production facility in Tamil Nadu.

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Oriana Power Ltd. announced on Monday the acquisition of two significant orders, totaling Rs 134.6 crore, for the establishment of solar capacities in Karnataka and Rajasthan. The first order, valued at Rs 100.2 crore, represents an engineering, procurement, and construction (EPC) contract obtained from a steel company.

Adani Ports and Special Economic Zone Ltd (up 7.10%), Adani Enterprises Ltd (up 3.68%), Axis Bank Ltd (up 2.32%), Apollo Hospital Enterprises Ltd (up 2.19%), and Power Grid Corporation of India Ltd (up 2.18%)were among the top gainers of Nifty 50. Coal India Ltd (down 1.15%), Bajaj Finance Ltd (down 0.28%), Oil & Natural Gas Corporation Ltd (down 0.27%), and Larsen & Toubro Ltd (down 0.18) were among the laggards today.

Brian Armstong, CEO of the Coinbase crypto exchange, stressed the power of crypto voting blocks in the upcoming 2024 United States elections. He believes that the politicians don’t fully realize its importance.

SJVN shares jumped 10.5% to hit a 52-week high of Rs 70.7 in Monday's trade on BSE after the company's subsidiary SJVN Green Energy (SGEL) signed a power purchase agreement with Bhakra Beas Management Board (BBMB) to develop an 18 MW solar power project. «The project will be developed on the land parcels of BBMB in the states of Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024,» the company said in an exchange filing. The project has been secured through open competitive bidding at a tariff of Rs 2.63/- in the e-reverse auction organized by the Punjab Energy Development Agency, SJVN said. The project will generate 39.42 million units of energy in the first year of operation, and the cumulative energy generation over a period of 25 years would be about 917 million units, the company added. The Power Purchase Agreement for the power produced from the project has been signed with BBMB for 25 years. SJVN plans to install over 10,000 MW renewable energy capacity in three years while progressing towards its shared vision of becoming a company of 25000 MW by 2030 and 50000 MW by 2040, the company said. At 10.18 am, the scrip was trading 8.8% higher at Rs 69.6 on BSE.

Stocks that were in focus included names like Tata Power, which rose 2.16%, Shemaroo Entertainment, which fell 5%, and Landmark Cars, whose shares jumped 12.53% on Friday. Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.Tata Power — BuyThe counter has recently experienced a breakout pattern on both the weekly and daily charts, showing significant technical strength. The weekly chart revealed an inverse head and shoulders pattern with notable volume in the shoulders, while the daily chart exhibited a breakout from a cup and handle formation. This overall structural setup remains appealing, particularly because the counter is currently trading above essential moving averages. Additionally, the MACD (moving average convergence divergence) indicator is confirming this strength, and the momentum indicator RSI (relative strength index) is also in a positive position. Looking ahead, the immediate obstacle for the counter stands at Rs 300. If it surpasses this level, there is potential for further upward movement, possibly exceeding Rs 300. On the downside, it's important to recognize that Rs.

A new “big eight” of superannuation funds will dominate the $3.5 trillion retirement savings system by uniting under a soon-to-be announced policy and lobby group that will court both sides of politics.

Nifty displayed strength, primarily driven by strong demand for large-cap stocks. The overall trend remained robust as the index consistently stayed above a critical moving average. However, a significant hurdle for the Nifty came in the form of substantial Call writing at the 19900 strike price.

corporate actions scheduled for this week. IRFC, Jindal Stainless, Gujarat Gas, Jupiter Wagons, Gokaldas Exports, and Landmark Cars will trade ex-dividend, while Power Grid Corporation will trade ex-bonus this week. The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout.

G20 countries on Saturday committed to expedite efforts to phase down unabated coal power in line with national circumstances and uphold their 2009 promise made in Pittsburgh to eliminate and rationalise inefficient fossil fuel subsidies.

BJP president C P Joshi on Saturday said that the party's 'Parivartan Sankalp Yatra' has now become a people's yatra and the public is willing to vote out the Congress from power in the upcoming state assembly elections. Addressing a press conference at Udaipur, Joshi said people from every corner of the state are joining the yatra to extend support to the BJP and there is resentment among people against the ruling Congress government in the state. «Congress had assured farmers of complete loan waiver but the promise has not been fulfilled yet.

Sanatan Dharma former Himachal Pradesh chief minister Jai Ram Thakur on Saturday said no power on earth can eradicate Sanatan Dharma and those who tried to finish it never succeeded.

Arthur C. Brooks is the William Henry Bloomberg Professor of the Practice of Public Leadership at Harvard Kennedy School and professor of management practice at Harvard Business School. Oprah Winfrey is a global media leader and philanthropist. This essay is adapted from their new book, “Build the Life You Want: The Art and Science of Getting Happier," which will be published on Sept. 12 by Portfolio.

This summer’s sweltering heat has put tremendous stress on Texas’ power grid, with the state setting 10 new records for electricity demand

By Scott DiSavino

//WEB// The task force has recommended Centralized Remote Monitoring, Operation of Substations including SCADA, Flexible AC Transmission devices (FACTs), Dynamic Line Loading system (DLL), Wide Area Measurement System (WAMS) using phasor measurement unit (PMU) and data analytics, Hybrid AC / HVDC system among others. The Task force also recommended benchmarks for transmission network availability and voltage control based on performance of global transmission utilities.

Conservative party gathers in Québec City this weekend.The Conservatives are riding high in national polling and head into this weekend’s policy convention — the party’s first in-person convention since 2018 — with a sense of cautious optimism after eight years on the opposition benches.But it wouldn’t be a Conservative gathering without some good old fashioned intra-party power struggles.Alissa Golob, the executive director of anti-abortion group Right Now, said her organization is pushing for more transparency around party nominations and more power resting with local riding associations — rather than Poilievre and his team in Ottawa.The group’s goal is to nominate and elect more anti-abortion politicians to the House of Commons, with an aim of passing legislation to restrict abortion access in Canada.Unlike previous conventions, however, Golob said social conservatives are focusing their attention less on policy debates and more on the power dynamics between the party “establishment” and local volunteers.

DPSC(up 15.88%), Transformers and Rectifiers(India)(up 13.77%), RTNPOWER(up 4.32%), Karma Energy(up 3.42%), Alstom T&D India(up 3.33%), JSW Energy(up 3.16%), Orient Green Power Company(up 2.91%), Adani Power(up 2.88%), NTPC(up 2.63%) and Hitachi Energy India(up 2.34%) stood among the top gainers. Voltamp Transformers(down 4.19%), Jaiprakash Power Ventures(down 2.56%), NHPC(down 2.13%), Kalpataru Projects International(down 1.20%), Gujarat Industries Power(down 0.88%), Adani Energy Solutions(down 0.76%), Inox Wind Energy(down 0.63%), Energy Development Company(down 0.49%), Reliance Power(down 0.24%) and Suzlon Energy(down 0.21%) were among the top losers of the day. The NSE Nifty50 index ended 92.9 points up at 19819.95, while the 30-share BSE Sensex closed up 333.35 points at 66598.91. Coal India Ltd.(up 2.95%), NTPC Ltd.(up 2.62%), Bharat Petroleum Corporation Ltd.(up 2.07%), Tata Motors Ltd.(up 2.0%), Larsen & Toubro Ltd.(up 1.93%), Adani Ports & Special Economic Zone Ltd.(up 1.86%), Hero MotoCorp Ltd.(up 1.61%), Oil And Natural Gas Corporation Ltd.(up 1.48%), Bajaj Finserv Ltd.(up 1.41%) and Bharti Airtel Ltd.(up 1.2%) stood among the top gainers in the Nifty pack. On the other hand, Eicher Motors Ltd.(down 0.92%), UPL Ltd.(down 0.89%), Apollo Hospitals Enterprise Ltd.(down 0.87%), UltraTech Cement Ltd.(down 0.76%), ITC Ltd.(down 0.72%), Tata Consumer Products Ltd.(down 0.65%), Wipro Ltd.(down 0.65%), Dr.

Sabyasachi Majumdar, Senior Vice President & Group Head, ICRA, says “the overall average merchant power tariffs will be on the higher side. So entities, whether they are thermal based players or even some renewable energy players, have some amount of merchant capacity and will definitely make much better money from merchant sales than they have often been in the past, particularly in the late 2018 to 2021 period. They can look forward to better merchant tariffs over the next two to three years.”Looking at the demand supply in the power sector, it appears that demand is going to be outstripping supply. Would you like to react?Over the next two to three years, we are expecting demand growth of anywhere between 5% and 6%, depending upon the underlying situation. Our median estimate is somewhere around 5-5.5%. But there could be upsides depending upon how quickly the economy takes off. So we are looking at 5-6% demand growth. At best, the capacity will be barely able to catch up.

In a bid to counter growing dominance of the US and Asian allies, North Korea launched its new purported nuclear attack submarine, reported North Korea's official Korean Central News Agency on Friday. The country has been developing the submarine with an aim to create a nuclear armed navy to counter the United States and its Asian allies.