Power Financial News

Also Read: Current market offers a great accumulation opportunity; concerns over IT sector overblown, says Karan Doshi of LIC MF With improved supply conditions, coking coal prices are expected to moderate and drive EBITDA margin improvement for steel players. The brokerage believes JSW Steel, Jindal Steel & Power Ltd (JSPL) and Tata Steel are well placed to benefit from upcoming capacities. With the government’s increasing shift towards using stainless over carbon steel, usage has increased in India benefiting Jindal Steel.

SJVN shares rose 5% and hit a 52-week high at Rs 63.8 in Tuesday's trade on BSE after the firm's wholly owned subsidiary received the letter of award from Assam Power Development Corporation Limited (APDCL). «SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of the company, has received a Letter of Awards from Assam Power Development Corporation Limited (APDCL) for three solar power projects of cumulative capacity 320 MW,» the company said in an exchange filing. SGEL had participated in three separate tariff-based competitive bidding tenders of APDCL i.e. 50 MW, 70 MW and 200 MW. The 50 MW and 70 MW projects are under the solar park category and have been allotted at a tariff of Rs 3.92/Unit. While the 200 MW project is to be developed anywhere in Assam and has been allotted at a tariff of Rs 3.90/Unit, SJVN said. These three solar power projects shall be developed on Build Own and Operate (BOO) basis.

Tata Power Renewable Energy Limited (TPREL), renewable energy subsidiary of Tata Power, signed a group captive power delivery agreement (PDA) for 4.4 MW AC with the Anand Group, a global automotive systems and parts industry leader. Under this agreement, TPREL will facilitate the generation of 10 million units of clean energy through renewable sources. The project is expected to eliminate 5500 tonnes of carbon emissions annually, aligning with TPREL's mission to create a greener and cleaner future for its Commercial and Industrial (C&I) customers.

Suzlon Energy(up 4.89%), RTNPOWER(up 3.64%), Alstom T&D India(up 3.61%), Reliance Power(up 3.44%), SJVN(up 3.29%), Indowind Energy(up 1.95%), Orient Green Power Company(up 1.44%), Power Grid Corporation of India(up 1.23%), Adani Power(up 1.18%) and Tata Power Company(up 1.08%) were among the top gainers. KPI Green Energy(down 3.57%), ADANIGREEN(down 1.06%), Voltamp Transformers(down 0.62%), JSW Energy(down 0.60%), Energy Development Company(down 0.31%), Hitachi Energy India(down 0.17%), Kalpataru Projects International(down 0.06%) and Adani Energy Solutions(down 0.02%) were among the top losers. The NSE Nifty50 index was trading 18.8 points up at 19324.85, while the 30-share BSE Sensex was up 38.03 points at 65034.63 at around 10:24AM. Adani Enterprises(up 1.47%), Hero MotoCorp(up 1.44%), Tech Mahindra(up 1.41%), UPL Ltd(up 1.27%), Power Grid Corporation of India(up 1.23%), Bajaj Auto(up 0.95%), Divis Laboratories(up 0.87%), Hindalco Industries(up 0.8%), Cipla(up 0.76%) and JSW Steel(up 0.74%) were among the top gainers in the Nifty pack. On the other hand, Bharti Airtel(down 1.73%), Axis Bank(down 0.85%), IndusInd Bank(down 0.67%), Hindustan Unilever(down 0.61%), Reliance Industries(down 0.56%), Dr Reddys Laboratories(down 0.46%), Apollo Hospitals Enterprises(down 0.37%), Sun Pharmaceutical Industries(down 0.3%), Britannia Industries(down 0.26%) and Nestle India(down 0.25%) were trading in the red.

OpenAI, the creators of the artificial intelligence tool ChatGPT, has released ChatGPT Enterprise, a supposedly faster, more secure, and powerful version of the chatbot for businesses.

MUMBAI : Mukesh Ambani-led Reliance Industries Ltd (RIL) is looking to collaborate with large international wind equipment manufacturers to set up its ambitious wind energy business. On Monday, while addressing the 46th annual general meeting, Ambani unveiled the group’s renewable energy roadmap. As part of its strategy to transition from fossil fuels to new energy, RIL will expedite the development of its green energy giga manufacturing complex in Jamnagar, Gujarat.

Mukesh Ambani said his Reliance Industries Ltd. will expand into wind power equipment with the help of more established firms to boost the conglomerate’s suite of clean energy products. Reliance will partner with “global leaders” in the renewable technology to offer cost-efficient turbines, Ambani told shareholders Monday at the company’s annual general meeting.

Electricite du Laos (EDL), the state-run power distribution company, has announced a major cut to crypto mining firms in the country, swerving from its pro-crypto stance since 2021.

RTNPOWER(up 8.41%), Jaiprakash Power Ventures(up 6.58%), Suzlon Energy(up 4.91%), Alstom T&D India(up 3.69%), Transformers and Rectifiers(India)(up 3.21%), KPI Green Energy(up 2.07%), Gujarat Industries Power(up 1.85%), Inox Wind Energy(up 1.49%), GE Power India Limited(up 1.45%) and Power Grid Corporation of India(up 1.36%) were among the top gainers. Indo Tech Transformers(down 3.08%), Adani Power(down 1.42%), Orient Green Power Company(down 1.41%), Inox wind(down 1.32%), Adani Energy Solutions(down 1.22%), ADANIGREEN(down 0.77%), Voltamp Transformers(down 0.58%), Indowind Energy(down 0.38%), Energy Development Company(down 0.31%) and Karma Energy(down 0.23%) were among the top losers. The NSE Nifty50 index was trading 57.45 points up at 19323.25, while the 30-share BSE Sensex was up 181.15 points at 65067.66 at around 11:20AM. Cipla(up 2.12%), Bharat Petroleum Corporation(up 1.84%), Larsen & Toubro(up 1.53%), Mahindra & Mahindra(up 1.44%), Sun Pharmaceutical Industries(up 1.42%), Power Grid Corporation of India(up 1.36%), Maruti Suzuki(up 1.23%), HDFC Bank(up 0.9%), Coal India(up 0.81%) and UltraTech Cement(up 0.71%) were among the top gainers in the Nifty pack. On the other hand, Adani Enterprises(down 1.13%), Bajaj Finance(down 0.75%), Adani Ports & Special Economic Zone(down 0.64%), Bajaj Finserv(down 0.62%), Britannia Industries(down 0.53%), Bharti Airtel(down 0.46%), Nestle India(down 0.4%), Tech Mahindra(down 0.38%), Hindustan Unilever(down 0.33%) and HDFC LIFE INSURANCE(down 0.31%) were trading in the red.

Electricity is being restored in most parts of Kenya, 14 hours after the longest outage in recent memory

Lawyers have filed a new plan for restructuring $10 billion in debt owed by Puerto Rico’s power company in the latest attempt to end a lengthy bankruptcy process marked by acrimonious negotiations

The longest nationwide power outage in Kenyans’ memory remains a mystery as the government-owned power company blames a failure at Africa’s largest wind farm, which laid the responsibility on the power grid instead

Tata Power Charging Solutions, the largest provider of EV charging in the country, is looking at an over 6-fold jump in the number of semi-public and public chargers it offers for electric vehicles (EVs) to 25,000 from the current 4,000 over the next 5 years. The service provider is encouraged by the sharp month-on-month jump in the number of registered users on its mobile application amid a fast adoption to EVs, said a company executive. «With EVs growing at a fast pace, we are constantly expanding at suitable locations every month. We are also encouraged by the number of registered users on our app. It has gone up to 168,000 year-to-date (fiscal) as compared to 135,000 in the whole of last fiscal,» Virendra Goyal, the head of business development (EV Charging) at Tata Power told ET. The Tata Power Renewables' subsidiary has a presence in all the four categories which comprises home, public (including semi-public), bus and fleet charging segments. Since 2018, ahead of the launch of Tata Motors e-Nexon in 2020 — the first EV offering from Tata Motors — it has deployed 50,000 home chargers. It plans to end FY24 with 7,000 public EV charging points.

Trump's police booking photo taken in Fulton County Jail last Thursday is the main talking point. The mugshot shows the former — and future? — US president looking into the camera, perhaps pretending to be Robert Oppenheimer.

Jammu and Kashmir chief minister Ghulam Nabi Azad Sunday said if his party DPAP comes to power in the Union territory, he will focus on developing the tourism sector to tackle the issue of increasing unemployment. At a rally of his Democratic Progressive Azad Party (DPAP) in Pulwama district, Azad also said he would address the perennial problem of highway blockade between Ramban and Banihal caused by landslides if voted to power. «The focus will be on tourism to tackle the problem of unemployment.

Narendra Modi while addressing the 104th episode of Mann Ki Baat lauded the women empowerment and said that ISRO's Chandrayaan-3 mission is a living example of women's power. As reported by ANI, PM Modi said, “From the Red Fort I had said that we have to strengthen women-led development as a national character. Where the capability of women's power is added impossible is made possible." PM Modi further said that Mission Chandrayaan is also a living example of women's power.

Queensland Energy Minister Mick de Brenni says he has full confidence in the CS Energy board despite taxpayers remaining in the dark over the cause of the catastrophic failure of the state-owned firm’s Callide C coal-fired power station more than two years ago.

New Delhi: To ensure uninterrupted power supply for the G20 Summit, authorities are leveraging latest technology and have installed multiple backups at the venue, Pragati Maidan, officials said on Saturday. Power discom BSES has enhanced the supply to Pragati Maidan by establishing three separate power sources to ensure reliability.

Narendra Modi on Saturday said the excitement generated by the success of Chandrayaan-3 has to be channelised to power scientific temper among youngsters to realise the dream of a developed India by 2047. Addressing a function organised at the airport here by the BJP to celebrate the success of Chandrayaan-3 and welcome the prime minister on his return from his two-nation tour, Modi said that at the BRICS Summit in South Africa and during his visit to Greece, he received several congratulatory messages over the success of the lunar mission. Modi was welcomed at the Delhi airport by BJP president J P Nadda and Lok Sabha members from the national capital, while scores of people had gathered at the function to celebrate the Chandrayaan-3 landing on the Moon. The prime minister also spoke about his brief stopover in Bengaluru on Saturday morning, during which he met ISRO scientists and took the decision to name the landing point of the spacecraft as «Shiv Shakti».

Several areas in Karnataka's capital Bengaluru is expected to face power cuts on 26 and 27 August as the city's electricity board Bangalore Electricity Supply Company (BESCOM) and Karnataka Power Transmission Corporation Limited (KPTCL) have scheduled maintenance and repair work. Apart from the maintenance work, BESCOM said that work including Jalasiri 24 * 7 water supply work, road widening and underground drainage plant electrification, 11KV link line for bifurcate the load from F-2 Gowdihallifeeder from NG Halli MUSS To Gowdihalli High school limits, NH-48 road widening shifting will be taken up.

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