Here is an ongoing summary of short news stories of November and December 2022. These stories have not been covered elsewhere on this portal.
Indian Energy Exchange (IEX) has incorporated a wholly-owned subsidiary “International Carbon Exchange Private Limited” (“ICX”) today to explore business opportunities in the voluntary Carbon Market. ICX will enable participants to buy and sell voluntary carbon credits at competitive prices through its transparent and reliable platform. As per industry estimates, the annual demand for voluntary carbon credit globally is expected to reach around 1.5 gigatons, with India contributing around 200 million tonnes by 2030, a release from IEX said. (December 27, 2022)
Best Power Equipments (BPE) has announced that it has supplied UPS capacity up to 500kVA for the greenfield airport at Mopa, Goa, that is scheduled to start commercial operations on January 5, 2023. Most of the UPS are working in parallel redundancy which includes centralized monitoring system, a release from BPE said. BPE has been considered for this project after various technical evaluations and documentation, the release added. (December 26, 2022)
Japan-based MUFG Bank has executed an Rs.450-crore sustainable trade finance facility for Tata Power. This credit facility was extended for two solar projects under TP Kirnali Ltd, a wholly-owned subsidiary of Tata Power Renewable Energy Ltd. The two projects include a 100-mw project at Parthur in Maharashtra and a 120-mw facility at Mesanka in Gujarat. (December 23, 2022)
The National Company Law Tribunal, on December 21, 2022, approved the scheme of amalgamation of JMC Projects (India) Ltd with Kalpataru Power Transmission Ltd, leading to the creation of one of India’s large listed diversified engineering and construction company with combined order visibility of nearly Rs.43,000 crore. The combined entity will have a significant presence in India and projects in 67 countries, with offerings in well-diversified areas of power transmission & distribution, buildings & factories, water, railways, oil & gas and heavy civil infrastructure. The combined entity will bring together diverse capabilities and the ability to pursue accelerated growth. The Board of Directors of KPTL and JMC had approved the scheme of amalgamation in February 2022. (December 22, 2022)
Schneider Electric has announced the signing of an MoU with Nettur Technical Training Foundation (NTTF) to maximize the impact of training and skilling initiative among the youth of the country. The MoU was signed with an aim to leverage Schneider Electric’s intention to create highly qualified manpower and NTTFs experience in training youth of the country for industry focus and employment orientation. NTTF will be an authorized training partner to run training operations, labs and Centre of Excellence (CoE) established by Schneider Electric in the government and private-based skilling institutions in India. (December 21, 2022)
Vertiv has announced additions that are key to its growing global Vertiv™ Partner Program (VPP), including an enhanced online interface and functionality and an easy-to-use portal with collaborative capabilities.These tools make it easier to promote and sell Vertiv’s industry-leading products and solutions and allow channel partners to be more competitive in a customer-driven digital age. Following the successful introduction of “Marketing Center”on the Vertiv Partner Portal last year, Vertiv has witnessed a significant growth in onboarding channel partners in India on the portal, enabling these partners to immediately access training, online tools and program updates, a release from Vertiv said. (December 21, 2022)
Tata Power Delhi Distribution Ltd has been honoured with the Platinum Award for implementing the best practices in the field of Occupational Health, Safety, and Security. The award was given at the recently 13th EXCEED Occupational Health, Safety, and Security Awards, organized by the Sustainable Development Foundation. This event brought together professionals from various industries to converse on important aspects of safety, security, risk management, and cyber safety to create a safety industry climate, a release from Tata Power DDL said. (December 21, 2022)
Waaree Energies that currently has a 9-GW module manufacturing facility in operation is setting up an additional module manufacturing capacity. This will take the company’s total module capacity to 12 GW for a 650-watt module, by March 2023. This will be the largest module manufacturing capacity in the world outside of China, a release from Waaree said. Waaree is currently the lone Indian manufacturer approved by ALMM to ship high-wattage panels (650WP along with 600WP and 540WP) from its manufacturing facilities in Surat, Chikhli, Tumb, and Nandigram. With the acquisition of Indo Solar Ltd, modules will also be made at Greater Noida for the domestic market in Q3 of 2022. (December 20, 2022)
ReNew Power has signed a renewable energy agreement of 150 mw with Microsoft India, in what ReNew said was one of the largest such deals in the country. As part of the arrangement, ReNew will produce 150 mw of clean energy from its recently-commissioned solar site near Bikaner in Rajasthan. This deal signifies that corporates globally, including India, are increasingly integrating renewable energy into their operations in every form, and this partnership further paves the way for innovative models that will accelerate the energy transition, ReNew Power said. (December 17, 2022)
Schneider Electric has won the FICCI CSR Award for its ‘Energy for Sustainable Livelihood’ project under the Food Security and Agriculture category at the 20th FICCI CSR Award Ceremony. The winning project aims to transform lives of tribal women farmers in10 economically backward districts (9 out of 10 are aspirational districts) in Bihar, Jharkhand and Odisha by providing assured irrigation through 428 solar powered irrigation system, supporting 8356 farmer familiesfor their agricultural use resulting in income enhancement. Since 2004, Schneider has been working in the sustainable livelihood domain and has transformed lives of more than 10,000 farmers by proving assured irrigation through 600+ solar irrigation pumps. By 2025 Schneider Electric aims to support 6000 more farmer families through installation of 300 additional solar pumps. (December 13, 2022)
In a regulatory filing, NTPC said that consequent upon successful commissioning, entire capacities of 150 mw and 90 mw Devikot solar photovoltaic projects at Jaisalmer, Rajasthan, are declared commercially operational effective December 13, 2022. With this, standalone installed and commercial capacity of NTPC has become 58,041.27 mw, while the NTPC Group’s installed and commercial capacity of NTPC has become 70,656.27 mw. (December 13, 2022)
ANDRITZ, in a communicated dated December 12, 2022, said that it successfully synchronized Unit-1 of the Karnafuli hydropower project in Kaptai district, Bangladesh, in November 2022. The unit, after rehabilitation, reached 100 per cent of its nominal power of 46 mw and thereafter successfully completed the mandatory 72 hour run test at full load. The unit has been handed over to client for commercial operation and will complete the 21 days reliability test shortly. This project is being jointly developed by ANDRITZ through its outfits in Italy and India. (December 13, 2022)
The board of directors of Exide Industries Ltd in a meeting on December 12, 2022 decided to explore the possibility of merging two of its wholly-owned subsidiaries – Exide Leclanche Energy Pvt Ltd and Exide Energy Solutions Ltd – due to their similar line of business. Further updates on the matter would be communicated in due course, a stock exchange notification by Exide Industries said. (December 13, 2022)
JSW Renew Energy Two Ltd, a step-down subsidiary, of JSW Energy Ltd, has commissioned the first phase of 27 mw of its 450-mw wind power project at Tuticorin in Tamil Nadu, awarded under the SECI (Tranche X) auction. This is the company’s first greenfield wind power project. JSW Energy has set a target of 10 GW green capacity by FY25, and 20 GW by FY30. Around 2.63 GW of renewable energy projects are currently in the pipeline (including those under construction). Of this 1.26 GW represent wind power projects that are expected to commission in the next 12-18 months. All renewable energy projects of JSW Energy are housed in “JSW Neo Energy Ltd”, a wholly-owned subsidiary of JSW Energy Ltd. (December 6, 2022)
Amara Raja Batteries Ltd has signed an MoU with the Government of Telangana to set up state-of-the-art research and manufacturing facilities for lithium-ion battery-making in Mahbubnagar district, Telangana. Over the next 10 years, the company intends to invest over Rs.9,500 crore, after necessary approvals. It may be recalled that on November 3, 2022, the company announced the incorporation of a subsidiary named Amara Raja Advanced Cell Technologies Pvt. Ltd. Amara Raja has been working on Li-ion cell chemistries specifically suited for Indian subcontinent conditions, and already supplies lithium battery packs and chargers to some 2 and 3-wheeler OEMs. (December 2, 2022)
SJVN Green Energy Ltd (SGEL) and Grid Corporation of Odisha have entered into a memorandum of understanding for the development of renewable energy capacity in Odisha. Accordingly, a joint venture between the two entities will develop 1,000 mw worth of hydropower and 2,000 mw of solar power projects in the eastern state. SGEL is a wholly-owned subsidiary of SJVN Ltd. (December 2, 2022)
NTPC has dispatched its first coal rake from NTPC Talaipalli coal mines to NTPC Lara super thermal power project — both located in Chhattisgarh. The MGR (merry-go-round) track length from Talaipalli to Lara is 65 km. The commencement of rake loading paves the way forward for NTPC’s Talaipalli Mine to dispatch coal in a smooth and eco-friendly manner to meet the coal requirements of NTPC’s 1600-mw NTPC Lara power plant, NTPC said. (November 23, 2022)
Power Finance Corporation Ltd, in a regulatory filing, said that its wholly-owned subsidiary PFC Consulting Ltd (PFCCL) has, in turn, incorporated two new special purpose vehicles for the development of independent power transmission projects. These two SPVs are wholly-owned subsidiaries of PFCCL and will be transferred to the developer selected using the tariff-based competitive bidding (TBCB) mechanism. The two subsidiaries are: Raipur Pool Dhamatari Transmission Ltd for the development of “Western Region Expansion Scheme-XXVII (WRES XXVII)” and Dharamjaigarh Transmission Ltd for development of “Western Region Expansion Scheme-XXVIII (WRES XXVIII) and Western Region Expansion Scheme-XXIX (WRES XXIX)”. Both these SPVs were incorporated on November 18, 2022, the filing said. (November 21, 2022)
Tata Power Solar Systems Ltd (TPSSL), a wholly owned subsidiary of Tata Power Renewable Energy Ltd, has tied up with Union Bank of India (UBI) to help MSME (micro, small and medium enterprises) sector switch to solar solutions. The objective of this collaboration is to improve access to green energy and save on the cost of electricity, thus making MSMEs more profitable. The association will be implemented under UBI’s solar scheme called ‘Union Solar’, which was launched on a pan-India level to relieve the MSME’s from the stress of higher power costs and grid exigencies. MSMEs can avail the dual services of solar EPC by TPSSL, financed through term loan facility by UBI. (November 16, 2022)
Private developer Chhattisgarh Hydropower LLP has given ANDRITZ the contract for the supply of electro-mechanical equipment comprising of turbine, generator, main inlet valve and related auxiliaries and SCADA for the Rehar-1 hydro project. The project comprises of 3 vertical Francis units of 8.3 MW unit capacity. The project is in Chhattisgarh state and the scope covers design, manufacture, testing, supply, installation and commissioning of the above equipment, ANDRITZ said in a statement. (November 15, 2022)
ABB Measurement & Analytics recently opened its first smart instrumentation factory in Bangalore, to support the region’s ambition of transforming into a global design and manufacturing hub. Aligned with the local government’s ‘Make in India’ program aimed at supporting local economy, the factory is equipped with state-of-the-art manufacturing technology to meet the growing demand for instrumentation devices that enables more efficient and sustainable customer operations. The new plant will manufacture field devices such as pressure and temperature transmitters, IP convertors and electromagnetic flowmeters for a wide variety of industries, including power, oil and gas, pharmaceutical, water and other segments. (November 1, 2022)
