India's energy odyssey: Navigating global oil challenges and forging a sustainable future
New Delhi: India, a burgeoning player in the global energy arena, finds itself at a critical juncture in the intricate tapestry of the world's oil dynamics.

No blanket exception for PSU oil companies from local sourcing mandate on steel
Government-controlled oil companies will have to seek case-by-case exceptions when not complying with local sourcing mandate on steel products.

Adani Green completes JV with TotalEnergies, raises USD 300 mn
Adani Green Energy Limited (AGEL) on Wednesday announced the completion of the 1,050 MW joint venture (JV) with TotalEnergies.

Over 90 per cent of Indian iron ore exports made to China
China has emerged the highest buyer of iron ore from India with nearly 24.75 million tonnes (mt) being exported for April-November period (eight months), a 400 per cent year-on-year rise, sources across different Ministries told businessline. This is the highest export to China in absolute terms in over the last three years, and second highest since FY20. 

Vedanta makes timely interest payment for NCDs
Mining major Vedanta (VEDL), a subsidiary of London-headquartered Vedanta Resources (VRL), has made “timely” interest payment for non-convertible debentures (NCDs) totalling ₹2,500 crore.

RBZ volume growth is 10-15% against industry growth of 2.5%. That speaks about our strength: Harit Zaveri
Harit Zaveri, Joint MD, RBZ Jewellers, says “generally, if you have one technology, one product, it is easy to produce but then you get eaten by the mega competitors who are the mega retailers who really want to invest into manufacturing. But RBZ has a strong setup in place with complexity. Considering its complexity, I think we are on the right path in matters of antique jewellery production. ”

Gold rises Rs 110, silver slumps Rs 300, trading at Rs 79,200 per kg
Source Credit: Business Standard 

The price of 24-carat gold jumped Rs 110 during early trade on Thursday, with ten grams of the precious metal selling at Rs 63,820, according to the GoodReturns website. The price of silver slumped Rs 300 with one kilogram of the precious metal selling at Rs 79,200.
 

Yellow metal trades flat amid weak US dollar and bond yields

Gold futures traded flat on Wednesday amid weakness in the US dollar and lower Treasury yields on expectations that the Federal Reserve will lower interest rates next year.

Indian Oil Corp. shares decline 1.21% as Sensex climbs
Shares of the Indian Oil Corporation Ltd. traded at INR 126.45 on BSE at 01:45PM (IST) on Wednesday, down 1.21 % from previous close.

Oil steady as market monitors Red Sea developments
Oil prices were little changed on Wednesday as investors monitored Red Sea developments, with some major shippers resuming passage through the area despite continued attacks and broader Middle East tensions.

India New Issue-ONGC Videsh likely to issue bonds in Jan-Mar - bankers
India's ONGC Videsh (OVL) is likely to raise funds through an issue of bonds in the last quarter of the ongoing financial year, merchant bankers said on Tuesday.

Adani Total Gas signs MoU to aid Flipkart's efforts to decarbonise its supply chain
AdTotal Gas and e-commerce platform Flipkart signed a Memorandum of Understanding (MoU). Under the pact, Adani Total Gas will work with Flipkart to support its vision to reduce the carbon footprint of the movements of goods between sourcing locations, warehouses, and end customers.

Coal sector | Govt. plans financial support for coal gasification projects, higher production in 2024
 

Power Grid Corp acquires 2 special purpose vehicles to implement transmission projects
State-owned Power Grid Corporation on Tuesday said that it has acquired two special purpose vehicles (SPV) to implement power transmission projects -- Vataman Transmission and Koppal II Gadag II Transmission from PFC Consulting. The Power Grid Corporation had bagged these two projects under tariff-based competitive bidding conducted by PFC Consulting, two separate BSE filings showed.

NTPC plans to list green energy vertical in next 1-2 years: CMD Gurdeep Singh
State-owned NTPC is looking towards listing its green energy vertical in the next 1-2 years, as it anticipates higher demand going forward, its chairman and managing director Gurdeep Singh said on Wednesday. He also said that the entity is expecting a 30-40 per cent rise in capex to cater to increased power demand in the country.

Adani Energy Arm to Form JV with Esyasoft for Smart Metering Biz
Mumbai: Adani Energy Solutions on Wednesday said its arm Adani Transmission Step-Four (ATSFL) will form a joint venture with the UAE-based Esyasoft Holdings (EHL) to implement smart metering projects in India and globally.

Adani Energy Solutions wins bid for Halvad Transmission project
Adani Energy Solutions (AESL), the power transmission and distribution company of Adani group, has won the bid for Halvad Transmission line project from PFC Consulting (PFCCL).

Promoter to invest Rs 9,350 crore in Adani Green via issuance of warrants
The board of Adani Green Energy (AGEL) has approved the issuance of warrants worth Rs 9,350 crore on a preferential basis to the promoter.

Suzlon secures 100.8 MW wind power project in Karnataka, shares up by 0.41%
Suzlon Energy Ltd.’s shares were up by 0.41 per cent after the company clinched a new order for a 100.8 MW wind power project in Karnataka from a Nordic Energy Company’s Indian subsidiary. The project involves the installation of 32 wind turbine generators (WTGs) with a rated capacity of 3.15 MW each, featuring Suzlon’s largest turbine from the 3 MW series, the S144-140m.

Suzlon bags two wind energy orders of 100.8 MW each from Mahindra Susten, nordic energy firm
Renewables solutions provider Suzlon has bagged two separate wind energy orders of 100.8 MW each from Mahindra Susten and an Indian arm of a leading nordic energy company. Suzlon will install 48 units of their S120 - 140m wind turbine generators (WTGs) with a Hybrid Lattice tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra for Mahindra Susten Pvt Ltd, the clean-teach arm of the Mahindra Group, a company statement said.

1% GDP growth needs 1.25x energy growth; non-fossil fuel to play a key role, says IREDA CMD
Renewable energy tops any discussion that takes place to stave off the adverse implications of climate change. For more than 36 years, Indian Renewable Energy Development Agency Limited (IREDA) has played a significant role in the development of renewable energy in the country when no one talked about it. In a free-wheeling discussion with ET Prime, Pradip Kumar Das, chairman and managing director of IREDA, speaks about the company’s recent bumper listing and its future plans.

Below are the edited excerpts.

Germany’s KfW to provide technical expertise to Indian offshore wind projects
New Delhi: Germany’s development bank KfW plans to share its expertise in offshore wind energy with Indian companies, including NTPC. Wolf Muth, KfW’s India director, said the bank will provide technical expertise and conduct feasibility studies to support India's offshore wind initiatives.

The three companies eyeing Macquarie's Strides solar projects
New Delhi : Macquarie Group’s sale of 400 megawatts (MW) solar power projects of its Stride platform has drawn interest from three entities, with the potential deal likely to have an equity value of around $300 million, signalling continued interest in India’s green energy sector.

JSW Renew starts commissioning 810 MW wind project in Tamil Nadu
JSW Renew Energy Limited has started phase-wise commissioning of 810 megawatts (MW) wind power projects in Tamil Nadu, beginning with the first phase of 51 MW.

Hinduja arm wins 140-MW solar project in Gujarat
Hinduja Renewables, Hinduja Group’s green energy arm, has won a 140-MW solar power project through a tender issued by Gujarat Urja Vikas Nigam (GUVNL).

Hinduja Renewables bags 140-MW solar project
Hinduja Renewables on Wednesday announced that it bagged a 140-MW solar power project from Gujarat Urja Vikas Nigam (GUVNL). The contract is part of the Solar Tender Phase -XXII issued by GUVNL for selection of solar power developers for setting up 500 MW Solar Power Projects anywhere in India, a company statement said.

Adani Energy to invest ₹3,000 crore to build 7-GW RE transmission network
Halvad Transmission was set up as a special purpose vehicle by PFC Consulting to evacuate renewable energy from the Khavda Renewable Energy Park. Adani Energy acquired it through a tariff-based competitive bidding process and will commission it in 24 months on BOOM (Build, Own, Operate, and Maintain) basis.

Adani Energy wins bid to hook up renewables park to National Grid
Adani Energy Solutions Ltd (AESL) on Wednesday said it has got Letter of Intent to acquire Halvad Transmission from PFC Consulting.

Apraava Energy secures 300 MW wind energy project in Karnataka's Aski

The project is part of the 1,200 MW auction capacity of Inter-State Transmission System (ISTS)-connected wind power projects (Tranche-XIV) from the Solar Energy Corporation of India (SECI), the company said.

NLC India aims to raise ₹5,000 crore via 1.4 GW renewable asset sale
Public sector mining and electricity generation company NLC India expects to raise ₹5,000 crore by selling its 1.4 GW of renewable energy assets. The exercise is expected to be completed by the end of next financial year, the company’s Chairman and Managing Director, M Prasanna Kumar, told businessline today. 

Gautam Solar targets 5 GW capacity at Bhiwani unit
Gautam Solar, which is doubling its solar module manufacturing capacity to 2 gigawatt (GW), targets 5 GW capacity at its upcoming factory in Bhiwani (Haryana). The homegrown solar modules manufacturer has four plants in Haridwar (Uttarakhand) with a cumulative capacity of 1 GW. It recently acquired 50 acres in Bhiwani for its upcoming manufacturing unit, which will have 1 GW capacity to begin with.

Spanish competition watchdog investigates oil company Repsol
Spanish oil company Repsol is under investigation by the country's antitrust watchdog over possible abuse of its dominant position in the nation's wholesale fuel market.