Here is an ongoing summary of short news stories of May and June 2022. These stories have not been covered elsewhere on this portal.
Cairn Oil & Gas, India’s largest private oil and gas exploration & production company, and part of the Vedanta Group, has signed a contract with Baker Hughes, an energy technology company, to harness geothermal energy from its repurposed oil and gas wells. On successful execution, the contract will help Cairn Oil & Gas co-produce up to 2.4 mw of electricity along with oil and gas and offset 17,000 tons of greenhouse gas per annum. This contract follows Cairn Oil & Gas’s recently announced ESG roadmap where it committed to becoming a net-zero company by 2050. (June 24, 2022)
NTPC Ltd has awarded the project of setting up India’s first green hydrogen fueling station in Leh, Ladakh to Amara Raja Power Systems Ltd. To begin with, NTPC plans to ply five hydrogen fuel cell buses in the region. Green hydrogen will be produced by splitting water into hydrogen and oxygen, using electrolysis process powered by electricity generated by renewable energy sources. The hydrogen produced in this manner will leave no carbon footprint. This pilot project will produce a minimum of 80kg per day of 99.97-per cent pure hydrogen which will be compressed, stored and dispensed. NTPC had announced its intention of setting up this pilot project in July 2021. (June 13, 2022)
The Assam government is interested in formation of a joint venture with SJVN for development of hydro and renewable energy projects in the northeastern state, SJVN said in a release. Assam has vast potential to develop ground mounted solar and floating solar power projects on existing barren land and water bodies. Assam has offered SJVN an opportunity to explore 5,000 mw power project development within the state in a phased manner. During a recent meeting between SJVN and Assam government officials, the proposal for sale of power to Assam from SJVN’s Arun-3 power project in Nepal and Solar Power generated through CPSU scheme were also discussed. (June 9, 2022)
Power Grid Corporation of India Ltd (PGCIL), in a stock exchange communication, said that K. Sreekant, Chairman & Managing Director, has assumed the additional charge of the post of Director (Operations) of PGCIL with immediate effect, in terms of Ministry of Power (MoP) Office Order No. 25-11/2/2021-PG-Part (1) dated May 25, 2022. In a separate filing, PGCIL said that Ms Seema Gupta has completed her tenure as Director (Operations) of PGCIL effective May 31, 2022, on attaining age of superannuation. (June 1, 2022)
Thermax, in a release, said that order bookings for FY22 (financial year ending March 31, 2022) stood at Rs.9,410 crore as compared to Rs.4,784 crore in FY21, implying near doubling. As of March 31, 2022, Thermax Group had an outstanding order book position of Rs.8,812 crore, up 69 per cent from Rs.5,227 crore as of March 31, 2021. Two significant orders bagged during the year include Rs. 1,176 crore for a sulphur recovery block and Rs.830 crore for three flue gas desulphurisation (FGD) systems, Thermax said. (May 20, 2022).
Tata Power Delhi Distribution Ltd has been recognized with a prestigious award for its excellent performance in the area of Corporate Governance during the India Corporate Governance & Sustainability Vision Summit & Awards 2022 organized by the Indian Chamber of Commerce (ICC). The award was presented during a virtual award ceremony which was attended by business leaders and eminent dignitaries. Commenting on the recognition, Ganesh Srinivasan, CEO, Tata Power-DDL said, “Strong corporate governance practices are the foundation of any organization and are fundamental to its growth. At Tata Power-DDL, we take pride in upholding these practices to the highest levels and continue to stay committed to them. We are thankful to ICC for honoring us with this award.” (May 18, 2022)
Kalpataru Power Transmission Ltd, on May 11, 2022, reported the winning of power T&D-related orders worth Rs.1,957 crore, in the domestic and international markets. These orders include mandates worth around Rs.500 crore won in March 2022, KPTL said. “These order wins, along with our well diversified consolidated order book gives us confidence to deliver good performance for the current financial year,” said Manish Mohnot, Managing Director & CEO, KPTL in a release. (May 12, 2022)
