Tata Steel unveils slew of projects, eyes West India expansion with Lloyds Metals partnership
The board of Tata Steel also approved a slew of projects in the East, including expansion of Neelachal Ispat Nigam Ltd’s (NINL) capacity by 4.8 million tonnes at Kalinganagar, Odisha, and adding a demonstrative low carbon steelmaking unit of 1 mt in Jamshedpur, Jharkhand.

Tata Steel plans major expansion, backward integration
Mumbai: Tata Steel has announced a slew of brownfield expansion and backward integration programmes to strengthen the long-term growth strategy in India. The company has signed a memorandum of understanding with Lloyd Metals & Energy (LMEL) to jointly set up a greenfield 6 million tonne steel plant in two phases at Gadchiroli in Maharashtra.

Tata Steel outlines strategy to offset higher iron ore costs post-2030
 

Govt mulls steps to put excess biofuel capacity into use
The ministry of petroleum and natural gas is formulating a mechanism to address the issue of excess ethanol capacity with the sugar and food grain processing industry, in consultation with the ministry of food.

GAIL India issues swap tender for LNG cargo
Singapore: GAIL (India) has issued a swap tender, offering a U.S.-loaded liquefied natural gas (LNG) cargo in exchange for one cargo delivery to India, said two industry sources on Thursday. GAIL, India’s largest gas distributor, is offering the cargo for loading on March 10 on a free-on-board (FOB) basis at Cove Point, Maryland. It is seeking a cargo on a delivered ex-ship (DES) basis to the Dabhol terminal on March 1-7.

OMC stocks look undervalued—but fundamentals tell a different story
Shares of India’s state-run oil marketing companies (OMCs) have declined 6-9% over the past month, hit by recent volatility in marketing margins. The margin on diesel fell to an 18-month low of negative ₹0.3 per litre in the third week of November amid US sanctions on Russian firms that have disrupted diesel exports.

Russian Oil exports drop sharply in November as sanctions concerns weigh on buyers: IEA
New Delhi: Russian oil exports saw a steep decline in November as buyers grew increasingly cautious over the risks linked to more stringent US sanctions, the International Energy Agency (IEA) said in its latest report.

India’s Russia oil imports at 1.5 million barrels per day so far in December
India’s crude oil arrivals from Russia averaged 1.5 million barrels per day (mbd) in the first ten days of December, with predictive flows pointing to a potential rise to 1.6 mbd as per global real-time data and analytics provider Kpler. 

Tata Power Secures Letter of Intent for acquisition of Jejuri–Hinjewadi power line project
Tata Power has received a letter of intent from REC Ltd for the acquisition of Jejuri Hinjewadi Power Transmission,  a project special purpose vehicle (SPV). In an exchange filing, the company stated that Jejuri Hinjewadi Power Transmission Limited will be developed on a Build-Own-Operate-Transfer basis to provide transmission services for a period of 35 years. 

NHPC invests ₹98,107 cr to build 8,814 MW hydropower capacity by 2032
New Delhi: State-owned hydro power major NHPC Ltd is currently investing Rs 98,107 crore along with its subsidiaries in setting up generation projects of 8,814 Megawatt (MW) capacity in phases through 2032, power minister Manohar Lal said today.

Adani eyes hydro power, thermal projects in South Asian nations
Adani Power is is looking to set up thermal and hydro power projects in South Asian countries following its recent foray into nuclear and international hydropower ventures.

Odisha: TPWODL records significant rise in rooftop solar installations
Bhubaneswar : Demonstrating its commitment to consumer empowerment and sustainable energy, TP Western Odisha Distribution Limited (TPWODL) has recorded a significant rise in rooftop solar installations under both the Ula Model – Utility Led Aggregation Model and the PM Surya Ghar Muft Bijli Yojana.

GVFL leads $12 million round in renewable-energy firm Soleos Solar Energy
 

NPCIL moots GST waivers on nuclear power, parity with renewable energy
New Delhi: For smooth and swift implementation of projects, the Nuclear Power Corporation of India (NPCIL) has highlighted incentives such as GST waivers, parity with renewable energy sources and higher delegation of powers to the board on the lines of Maharatna companies. These recommendations are critical for the state-controlled entity, considering that India is targeting a nuclear power capacity of 100 gigawatt (GW) by 2047, of which, NPCIL plans to contribute half.

L&T eyes global nuclear supply chain as demand for clean energy rises