Nepal's hydropower ambitions are tested by deadly floods
The floods in Nepal that destroyed a tenth its?electricity production capacity last week cast doubts on the ambitious plans for hydropower expansion. This forced the country to turn to India, a long-time power exporter, to keep the lights on. Nepal is largely reliant on hydropower for its?electricity? and has seen a rapid increase in export revenues. Adani Group and NHPC have committed to finance a threefold increase in capacity to supply India's coal heavy grid over the next decade.
Aditya Birla Renewables, an Indian company, will purchase Sprng Energy (formerly Shell)
The companies announced on Monday that Grasim 'Industries' renewables division will purchase Sprng Energy, a British oil'major', from Shell for $1.8 billion including 'debt'. This is one of India's biggest clean energy acquisitions. Grasim, India's flagship company, Aditya Birla Group said that the acquisition would add 5 gigawatts of capacity to Aditya Birla Renewables. The group's renewables portfolio now totals 9.3 GW. This makes it one of largest players in the country's clean energy sector.
Adani wants to be a major player in India’s nuclear sector by 2035, with a target of 10 GW
The Adani Group announced its plans to become a major player within 'India's nuclear energy' on Wednesday. It said it would 'build' up to 10 gigawatts by 2035, making it India's largest private sector operator. India is eager to increase its use of clean energy and last year it opened up the nuclear sector to both domestic and foreign firms in the private sector. It plans to increase nuclear capacity from 8 gigawatts to 100 gigawatts in 2047. The state-run Nuclear Power Corp of India aims for 50 GW of power…
India's Adani Total Gas raises prices, citing Middle East conflict
India's Adani Total Gas (ATGL), citing a lower Availability of Gas due to the Middle East conflict, has raised prices on industrial clients. Adani Group is a joint-venture with?French oil giant TotalEnergies SE. The?attacks against Iran and Tehran's response strikes have caused transit through the Strait of Hormuz, which transports around a fifth of global oil consumption as well?as huge quantities of liquefied gas, to come to a grinding halt. The company stated that due to recent geopolitical developments affecting LNG supply routes…
Raychaudhuri: Indian equities are a bright spot in the market.
Indian stocks, once the darlings of global investors have been underperforming other emerging markets in the past year due to?trade tensions and falling earnings estimates, while high valuations also dulled their shine. Changing domestic and geopolitical tendencies may attract global investors again. Last year, the main problem for Indian shares was that earnings expectations declined even though valuations remained high. The weakening of household consumption and the'muted corporate expenditure' were the main factors that impacted earnings forecasts.
Adani Group invests $7.17 billion in power projects in India’s Assam State
Adani Group, an Indian company, announced on Friday that it would invest approximately 630 billion rupees (7.17 billion dollars) in two major projects in Assam in the state's north-eastern region. One of these will be the largest coal-fired plant in the region. Adani Power was reported as having been the lowest bidder in a state-issued tender for coal power of 3.2 gigawatts (GW). Adani announced on Friday that the coal power plant unit of its company will invest about 480 billion rupees (5.46 billion dollars) in building the facility.
India's Modi extends a $450 million credit to Bhutan and expands energy relations
India and Bhutan strengthened their energy ties during Prime Minister Narendra modi's visit on Tuesday to the Himalayan country where he opened a hydroelectric project and extended a line of credit worth 40 billion rupees ($455 millions). India's outreach towards Bhutan is seen as a move to increase its influence in the area and bring the country wedged in between China and India nearer to New Delhi, as Beijing intensifies its engagement with Bhutan to resolve the long-running dispute over its border and establish diplomatic relations.
Tata Power to build India's largest wafer and ingot manufacturing plant
Tata Power, India's largest solar ingots and wafers manufacturer, plans to build a 10 gigawatt manufacturing facility. This is according to the chief executive Praveer sinha. Tata Power would be present in the entire manufacturing chain of solar cells with the facility that makes the wafers and ingots, the foundational materials for solar cells. Tata Power already has 4.9GW of integrated module and cell-making capacity. As the U.S. tariffs for Indian products increased, solar module exports became less attractive.
Adani Total Gas in India reports lower profits as imports increase costs
Adani Total Gas in India reported a drop in its second-quarter profits on Tuesday as higher costs for gas imports, after the government reduced cheaper supplies, weighed on earnings. The city gas distributor is a joint venture of Adani Group with French energy giant TotalEnergies. Its consolidated net profits fell by 12%, to 1.63 billion rupees (about $18.5 million), in the three-month period ended September. In April, India's government cut the amount of natural gas distributed to distributors at low cost.
Adani's solar deal is in trouble due to Andhra Pradesh’s request for transmission fee waiver
Three sources familiar with the matter have confirmed that the main buyer of Adani Green Energy's solar power, the state of Andhra Pradesh in the south, has requested guarantees regarding the waiver of transmission charges. Federal law mandates the transmission fee which can increase the cost by up to 40%. Therefore, waiving this would be difficult. Three sources claim that since April, Adani has been sending letters to Andhra Pradesh urging them to start off-taking power in accordance with a 2021 agreement.
Adani Solar deal in trouble over Andhra Pradesh's demand for waiver of transmission fees
Three sources who have direct knowledge of this matter say that the main buyer of solar power from Adani Green Energy, the state of Andhra Pradesh in the south, has requested guarantees regarding the waiver of transmission charges. Federal law mandates the transmission fee which can increase the cost by up to 40%. Therefore, waiving this would be difficult. Three sources claim that since April, Adani has been sending letters to Andhra Pradesh urging them to start off-taking power in accordance with a 2021 agreement.
Sanctioned Russian Oil Vessel Switches to Indian Port after Adani Group Ban
Sanctioned vessel Noble Walker carrying Russian oil has changed course to India's Vadinar port after the country's Adani Group banned entry of blacklisted ships at its Mundra port, ship tracking data showed on Monday.The Noble Walker, carrying about a million barrels of Russian crude for Indian refiner HPCL Mittal Energy Ltd, was until Friday headed to Mundra, according to shipping reports and data from LSEG and Kpler.The vessel has been blacklisted by…
Oil Prices Rise by Nearly 2% After Drone Strike on Russian Terminal
Oil prices rose by nearly 2% on Friday after a Ukrainian drone attack on a Russian port suspended loadings, outweighing pressure from oversupply concerns and weaker U.S. demand risks.The drone attack on Russia's northwestern port of Primorsk - one of the country's largest oil and fuel export terminals - led to a suspension of oil loading operations overnight, an official from Ukraine's SBU security service told Reuters."Those attacks on Russian energy infrastructure have room to drag down Russian crude and refined product exports…
Adani Total Gas, India's largest gas company, posts lower profit for the quarter as input costs increase
Adani Total Gas in India reported a decline in its quarterly profit on Sunday, as the cost of gas increased after the government reduced cheap supplies. The company's consolidated net income, which is a joint venture between Adani Group, the French oil giant TotalEnergies SE and a subsidiary of Adani Group, fell by about 3.8% compared to a year ago, falling to $19 million in the second quarter. In April, the Indian government reduced its allocation of low-cost gas to city distributors like Adani Total Gas.
Coal India will set up a power plant as a joint venture
Coal India will invest 165 billion rupees to build a coal-powered 1,600 megawatt plant in Jharkhand, a state located in eastern India. This investment is needed to meet the growing demand for electricity. On Monday, the state-owned company signed a nonbinding memorandum with Damodar Valley Corporation to build a plant that will consist of two 800 MW units. This plant will be an extension of an existing plant of 500 MW. State-run company also plans to build two thermal power stations in central India's state of Madhya Pradesh, each with a 660-MW capacity.
India's NTPC has plans to invest over $23 billion in renewable energy in Madhya Pradesh
The Indian state-owned power company NTPC announced on Monday that it will invest over 2 trillion rupees (about $23,07 billion) in renewable energy projects located in Madhya Pradesh. The company has announced several investments in renewable energy that it plans to make. India is moving away from fossil fuels. The company, and its subsidiary NTPC Green Energy, signed agreements with state governments for investments that covered projects based on solar power, wind power, pump hydro, and other carbon neutral resources.
Adani Total Dhamra terminal expansion is not imminent, CEO claims
Adani Total, an Indian joint venture, has not yet conducted feasibility studies for doubling the capacity of the LNG terminal at Dhamra. Chief Executive Surjeet S. Lamba said this on Thursday. This comes a year after Adani Total announced that it was planning to expand its terminal. Lamba stated that the 5 million tonnes per annum (mtpa), LNG terminal in India's East Coast, where TotalEnergies SE, a French energy giant, has a 50% share along with the Adani Group in 2024, would operate at an average utilization rate of 25%.
India's Adani Group flagship company posts Q3 loss as coal trading segment weighs on profits
Adani Enterprises in India, the flagship of the Adani Group, reported on Thursday a decline in its third-quarter profits, which was impacted by the performance at the company's coal trading division. The net profit of the company fell to 578.3 millions rupees (6.68 million dollars) during the quarter October-December, down from 18.88 billions rupees one year earlier. The shares of the company fell by 4.6% and were amongst the worst performers in the benchmark Nifty50 index, which dropped 0.1%.
Adani Total Gas, India's largest gas company, reports a Q3 profit decline due to higher gas procurement costs
Adani Total Gas, a company in India, reported on Monday a 20% drop in its third-quarter profits. This was due to higher gas costs after the government cut back supply. Adani Group's profit fell by 20% in the three-month period ended December 31, to 1.42 billion rupees (about $16.4 million), compared with a year earlier. In October and November the government cut off cheaper gas supplies for city gas distributors such as Adani Total Gas, citing a lower production, but restored them in January.
India will mandate the use of solar cells made locally in all clean energy projects by June 2026
From June 2026, Indian clean energy companies will have to use solar photovoltaic modules made from local cells by a list of approved companies. This is a measure to reduce imports from China, the top supplier. India has already required the use of solar cells made in India for government projects. The government intends to increase the non-fossil energy capacity of its country to 500 GW from 156 GW currently. India currently has a capacity to produce solar PV modules of around 80 gigawatts, while its capacity to manufacture cells is slightly over 7 GW.