Govt approved 50 solar parks in 12 states till Nov 30: R K Singh
New Delhi, A total of 50 solar parks with a combined capacity of 37,490 MW have been approved in 12 states till November 30, Parliament was informed on Tuesday. The government is implementing a scheme -- Development of Solar Parks and Ultra Mega Solar Power Projects -- with a target capacity of 40 GW, Minister of New and Renewable Energy R K Singh said in a reply to the Rajya Sabha.

India's Siemens to explore energy business spin-off, shares jump to record high
India's Siemens Ltd will explore a spin-off of its energy business at the behest of some of its stakeholders, the electrical appliances-maker said on Monday, sending its shares to a record high.

India cannot do away with energy security to meet climate goals: Official
India cannot do away with energy security only because it has to meet climate goals, a senior official said on Tuesday. The statement assumes significance due to India's focus on energy transition with ambitious targets of 500 GW of renewable energy by 2030 and net-zero by 2070.

Bids for another 100 critical mineral blocks in February 2024: Mines Minister Pralhad Joshi

The centre will call bids for 100 more critical mineral blocks in February 2024, under the second round of auctions, Mines Minister Pralhad Joshi said Tuesday. Addressing journalists during a road show for the ongoing first round of critical mineral bids, he also said that Off Shore mineral blocks will be auctioned by April 2024.

JSW Steel arm Periama completes JSW USA's acquisition
JSW Steel on Tuesday said its arm Periama Holdings LLC (Periama) has completed the acquisition of JSW USA by purchasing the remaining 10 per cent stake in its "common stock". Periama Holdings LLC (Periama) is a wholly-owned subsidiary of domestic player JSW Steel.

JSL gets board approval to acquire Rabirun Vinimay for Rs 96 crore via insolvency
Jindal Stainless Limited (JSL) on Tuesday said its board of directors has approved the acquisition of Rabirun Vinimay Private Ltd which is under liquidation. The cost of the acquisition is Rs 96 crore, JSL said in a regulatory filing.

EoI for RINL strategic sale to be invited after discussing broad contours with stakeholders: Govt
Expression of interest (EoI) for strategic sale of RINL will be invited after discussing the broad contours of the transaction with stakeholders, Parliament was informed on Tuesday. Minister of State for Finance Bhagwat Karad said the Cabinet Committee on Economic Affairs (CCEA), on January 27, 2021, had accorded 'in-principle' approval for 100 per cent disinvestment of the government's shareholding in Rashtriya Ispat Nigam Ltd (RINL) by way of strategic sale.

JTL Industries’ board approves Rs 1,200 crore investment plan
 JTL Industries Ltd said its board has approved an investment proposal of Rs 1,200 crore in company’s arm JTL Tubes Ltd to set up a project in Maharashtra.

C4V inks MOU with Hindalco for EV battery material
New Delhi: C4V, a US-based Li-Ion battery technology company, has signed an MOU with Hindalco Industries, for the development and supply of Battery Grade Aluminium foils, Coated Foils and structural components for Li-ion cells, to serve the fast-growing market for EV battery materials.

GMDC to spend Rs 900 cr on first underground copper mine in Gujarat
Ahmedabad: State-run Gujarat Mineral Development Corporation (GMDC) is planning to spend Rs 900 crore on developing its first underground copper mine in North Gujarat. Expected to come up near the temple town of Ambaji and a sloth bear sanctuary, the company expects to commission the mine in the next three years.

RBZ Jewellers Rs 100 crore IPO opens from today; All you need to know
RBZ Jewellers, a prominent player in the gold jewellery industry, is set to kick off its ₹100-crore Initial Public Offering (IPO) today, with a price band of ₹95-100 per share. The IPO, which closes on December 21, comprises an entirely fresh issuance of one crore shares, aimed at financing the company’s working capital requirements and supporting general corporate purposes. The market lot for this offering is set at 150 shares.

Gold price unchanged at Rs 62,620, silver falls Rs 500 to Rs 75,500

The price of 22-carat gold was was also unchanged, with the yellow metal selling at Rs 57,400.

Domestic natural gas consumption up 6% in November
New Delhi: Domestic natural gas consumption rose 6% in November over the same month last year, helped by increased supply from domestic fields, the oil ministry data showed.

MRPL firms up green aviation fuel plans
Mumbai: Mangalore Refinery and Petrochemicals Ltd (MRPL) is gearing up to produce sustainable aviation fuel (SAF) in two years to support the government’s one per cent blending target. While Indian Oil Corporation (IOC) plans to start the country’s first commercial-scale SAF plant at Panipat by 2026, MRPL is setting up 20-kilolitre-per-day plant to demonstrate indigenously-developed technology. The MRPL management is in the process of taking necessary board approvals for the construction of the SAF plant, said Sanjay Varma, who holds additional charge of managing director, MRPL. Subsequently, it will take about two-and-a-half years for setting up the plant at an estimated cost of around ₹450 crore, Varma added.

Centre slashes Windfall tax to Rs 1,300/ tonne

The government has slashed windfall tax On domestically produced crude oil to Rs 1,300 per tonne from Rs 5,000 per tonne on softening of crude oil prices in the international market.

Oil and gas prices rise as BP stops Red Sea shipments
 

Govt. to launch ninth round of commercial coal mine auction on December 20; 26 mines on the block
The Centre will launch the ninth round of commercial coal mines auction on December 20, offering as many as 26 blocks to bidders.

Vedanta to raise upto ₹3,400 crore through NCDs
Mining major Vedanta (VEDL), a subsidiary of London-headquartered Vedanta Resources (VRL), has approved raising of upto ₹3,400 crore through issuances of non-convertible debentures (NCDs).

Vedanta gets nod to raise up to INR 3,400 crore via NCDs
Mining conglomerate Vedanta Ltd on Tuesday said a committee of directors formed by the company's board has approved raising up to INR 3,400 crore through non-convertible debentures. The company will issue non-convertible debentures (NCDs) on a private placement basis in one or more tranhances.

India’s thermal coal imports from the US at over two-year high in November
India increased its long haul thermal coal cargoes in November this year with inbound shipments from the US rising to 1.40 million tonnes (MT), its highest in over a year. According to the energy intelligence firm Kpler, India imported a total of 17.51 MT of thermal coal, lower than the 15-month high of 18.66 MT recorded in October 2023.

New plan may see greater private role in power transmission
There is a need to increase the private sector investments in the power generation and transmission sector, a senior official said on Tuesday.  “We have to unleash our potential of private sector in generation and transmission, both infrastructure areas,”  said Ashish Upadhyaya, special secretary, union ministry of power, while addressing the CII South Asia Power Summit here.Srikant Nagupalli, Additional Secretary in the ministry of power said that there is a need for a comprehensive transmission plan and fast-tracked construction of transmission lines.

Power demand calls for investments
New Delhi: With a growing power demand in the country along with the country embarking on its energy transition journey, Ashish Upadhyaya, special secretary, Union ministry of power said that there is a need to unleash the potential of private sector investments in power generation and transmission.

Peak power demand likely to be 230 GW in January

New Delhi: Peak power demand between this month and February next year is likely to be about 6-9.5% higher year-on-year, according to an assessment by the Grid Controller of India, after a higher than expected power demand during the monsoon this year.

NTPC Group touches 300 billion units power generation mark in FY24

It is the fastest ever 300 BU generation, NTPC said in a statement.

Suzlon Group inks working capital deal with state-run REC
New Delhi: Suzlon Group has signed a definitive agreement with state-run REC Ltd for working capital facilities.

Vikram Solar, DFC sign retainer letter for $200 mn funding
New Delhi : Vikram Solar Ltd has signed a retainer letter with the US International Development Finance Corporation (DFC) for $200 million in funding for its 3 GW cell and module manufacturing plant at Gangaikondan in Tamil Nadu.