Bil Energy enters liquidation as it fails to get any revival plan

The bankruptcy court has admitted Bil Energy System Ltd for liquidation as no viable revival plan was offered to the lenders of the BSE-listed firm that has failed to pay dues of about Rs 167 crore.

After week-long talks, fossil fuel faultline leaves COP28 divided

Dubai: As the first week of the COP28 summit draws to a close, the issue of energy transition is dominating the talks. Fossil fuels, the principal driver of human-induced climate change, is the main faultline. There is broad acceptance on increasing renewable energy capacity to underwrite the transition. But differences exist on detailing out the transition.

Higher consumption, low domestic coal stocks forced Ministry to direct thermal power plants for imports: Power Minister
 

Hindustan Zinc stock rises after declaring 300% dividend
Shares of Vedanta group firm Hindustan Zinc surged over 2% to Rs 331.8 in Wednesday's trade on BSE after the company announced a second interim dividend of Rs 6 per share for the current financial year. The dividend outgo amounts to about Rs 2,535.19 crore.

HZL declares 2nd interim dividend of Rs 6 per share
Hindustan Zinc (HZL), in which mining major Vedanta (VEDL) holds a majority stake, has declared an interim dividend of Rs 6 a share for FY24, amounting to a total outgo of Rs 2,535.19 crore. Following the issuance of dividend, VEDL will get Rs 1,645 crore in lieu of the 64.92% stake it holds in HZL.

ONGC to cut gas flaring, use green power at oil wells: Chairman Arun Kumar Singh
State-controlled Oil and Natural Gas Corporation (ONGC) plans to wheel green electricity to its installations in the Arabian Sea to replace natural gas it uses in operation of oil wells as part of its ambitious decarbonisation programme, its Chairman Arun Kumar Singh said.

Oil falls to near 5-month low on OPEC+ cut doubts, demand concerns
Oil prices fell to a near five-month low on Tuesday on a stronger U.S. dollar and demand concerns, putting the market down for a fourth day in a row on doubts over OPEC+ announced voluntary supply cuts last week.

Artek buys Kemira’s oil & gas business
Mumbai: Mumbai-based Artek Group has acquired Finnish chemicals company Kemira’s oil and gas business for $280 million, according to a company statement.

RIL turns to sugar mills to fuel green energy plans

Mumbai: Reliance Industries (RIL), the country's most valuable company, is in talks with sugar mill operators for supply of sugarcane press mud, a feedstock for the production of compressed biogas, said two people aware of the development.

Tata Power soars 6%; hits new high after 20 months on positive outlook
The stock of Tata Group Company surpassed its previous high of Rs 298 touched on April 7, 2022. The average trading volumes at the counter more-than-doubled today. A combined 40.2 million equity shares representing 1.26 per cent of total equity of Tata Power had changed hands on the NSE and BSE till 02:03 PM.

Adani Electricity to provide 60% green power to Mumbai by 2027
Gautam Adani, chairman of the Adani Group, on Wednesday said that Adani Electricity is on course to provide 60 % renewable electricity to Mumbai by 2027 and will set a global record for the country’s financial capital.

Power plants may be set up at coal pitheads to cut costs

India will set up future coal-based power plants at the pithead as it looks to bring down coal transport costs in power generation costs, said a senior official.

Our successful listing gives justice to RE growth in India: IREDA CMD
The Indian Renewable Energy Development Agency (IREDA) is India’s only renewable energy-focused state-owned non-banking financial company. After existing for three decades and two failed attempts at an initial public offering (IPO), the IREDA made a debut on Dalal Street last week. Even as the renewable-energy sector has grown by leaps and bounds, the loan books of the IREDA have remained restricted during the past decade. The company is now trying to widen its scope to new and emerging green sectors and expanding its borrower base, use innovative financing tools to cater to large projects, and become a Navratna soon. P K Das, chairman and managing director, in an interview with Shreya Jai talks about the growth plans of the company after its IPO.

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India building world’s largest renewable energy project in salt deserts bordering Pakistan
Rising from the bare expanse of the large salt desert that separates India from Pakistan is what will likely be the world's largest renewable energy project when completed three years from now.

Adani Group to invest USD 75 bn to scale up AGEL's RE portfolio to 45 GW: Gautam Adani
New Delhi: Adani Group has plans to invest USD 75 billion on energy transition initiatives by 2030, its chairman Gautam Adani said on Wednesday. The investments will boost the group's vision to have 45 gigawatt of renewable energy capacity by 2030, Adani said in a statement.

Adani Green Energy ranks among top 3 global solar PV developer, says Mercom Capital
Adani Green Energy Limited (AGEL) on Wednesday announced that it has attained the position of the second-largest global solar PV developer, in Mercom Capital Group’s latest Annual Global Report. 

EKI Energy partners with Indian Oil to promote sustainable solar cooking

EKI Energy Services and Indian Oil Corporation (IndianOil) have formalised a Memorandum of Understanding (MOU) to this effect, an EKI statement said.

Waaree Energies to supply 200 MW solar panels to Ircon unit
Solar panels maker Waaree Energies will supply over 200 MW of DCR category solar PV modules to IRCON Renewable Power, a special purpose vehicle of IRCON International

Rio Tinto brings forward Simandou iron ore production to 2025
Rio Tinto on Wednesday brought forward the start of production from its giant Simandou iron ore project in Guinea to 2025 with plans to spend about USD 6.2 billion including on port and rail infrastructure.

World divided at COP28 over whether to end fossil fuel era
It's the issue at the core of COP28: will this year's U.N. climate talks, held in major oil producer the United Arab Emirates, produce the first global agreement to phase out fossil fuel use?