The effective crude oil price paid by India fell again to record of several years to just $33.35 for the second half of December, petroleum ministry said, implying a petrol price of $1.08 to the gallon or Rs 18.95 per liter. In India, the retail price of petrol is around Rs 63 per liter. Crude […]
ONGC Videsh Ltd and Rosneft signed an agreement of confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC Vankorneft. Vankorneft, Rosneft subsidiary, was established in 2004 for development of Vankor oil and gas condensate field – the largest of the fields, discovered and […]
Centre for Science and Environment, one of India’s biggest environmental research and lobbying organization, has said that the current proposal to set a target of limiting temperature increase to 1.5 degrees could be a ‘hollow shell’ if no limits are placed on individual country emissions. Countries from across the world are negotiating in the Paris […]
The Indian Cabinet has approved a proposal by Germany — one of the pioneers in developing solar power in the world — to provide concessional loans of around 1 bln euro to develop the renewable energy source in the country. India has an ambitious, almost impossible, target of achieving 175 gigawatt of renewable energy capacity […]
Inox Wind Ltd has started production at its 800 MW wind-turbine-blade facility at Barwani district in the state of Madhya Pradesh. The unit will have an annual production capacity of 400 rotor blade sets and eventually also have an annual manufacturing capacity of 400 nacelles and hubs, 300 towers and will double Inox Wind’s production […]
Mahanagar Gas Ltd, India’s biggest vendor of CNG fuel, has cut the price of the commodity after cuts by upstream providers such as ONGC and Reliance. “Consequent to the reduction in the price of domestically produced natural gas by the Government of India, Mahanagar Gas Limited (MGL) is pleased to reduce its CNG price by […]
Avantha Group Company CG has won a Euro 17 million (Rs 125 crore) contract to supply ZIV single and three phase smart meters to Gas Natural Fenosa and will be the main supplier for the utility. ZIV smart meters will cover a large part of the demand for domestic meters from GNF, having won the […]
Crompton Greaves Ltd, part of Avantha Group, has won a 3-year contract from the French distribution network operator Électricité Réseau Distribution France (ERDF) to provide maintenance and repair services to 4,500 high power transformers. These transformers of ERDF, which manages 95% of the electricity distribution network in France, are credited with supplying energy to 35 […]
Adani Enterprises said its deal with US-based solar manufacturer SunEdison is still continuing, and no decision has been taken to annul it. The clarification came after widespread media reports that Adani Enterprises has canceled their agreement and the Indian company was on the lookout for a new partner for its solar venture. The deal with […]
India’s leading stock exchange National Stock Exchange of India Ltd installed a 6.25 MW wind power project at Satara in Maharashtra. “65% of the energy consumption of NSE office located at Exchange Plaza building, Bandra-Kurla Complex (BKC) Mumbai will be met by this wind project,” a statement said. The project was implemented by Suzlon Group, […]
With the market showing extreme volatility, the Indian Oil Corporation’s offer for sale of 24.3 cr shares did not get adequate response from retail investors. Though 20% of the offer was exclusively reserved for retail investors, the company managed to get subscriptions for only about one-fifth of this quota. A 5% discount was also offered […]
The Cochin International Airport has become the world’s first airport to generate all the power it needs from solar technology. Bosch Limited was the implementation partner that helped the airport set up a 12 megawatt solar station in the premises. The unit will produce 50,000 units (kWh) of power per day. Constructed on a land […]
Essel Group Middle East (EGME) has acquired the Bada Potash Exploration License, located in Danakil Depression, Eritrea via its subsidiary Interu Mining and Trading. Earlier this year, EGME had also acquired oil reserves in the sub-Saharan region. Essel Group is the promoter of Zee Entertainment, and is headed by Subhash Chandra Goel. The group’s primary […]
Rural Electrification Corporation has disbursed an amount of Rs 16,070 crore loan to Telangana for construction of 4000 MW Yadadri power plant. The disbursement is highest ever extended by REC in a single installment. The cheque was handed over to Mr. K.Chandrashekhar Rao,Chief Minister of telangana by Mr.Rajeev Sharma, CMD, REC on 11th August, 2015. […]
CRISIL today said 46,000 mw of power projects are facing viability issues due to lack of long-term buyers for electricity, inadequate fuel supply, and aggressive bidding to win projects and coal blocks. This has put at risk Rs 75,000 cr of loans used to finance these projects, the firm added. Of this, 36,000 mw are […]
Tech Mahindra Ltd said it will partner with Ontario-based local distribution company, Niagara-on-the-Lake Hydro, San Diego Gas & Electric (SDG&E), SAP Canada and Nissan Canada for developing an Intelligent Electric Vehicle Charging System (IEVCS). This project is sponsored by Canada’s Ministry of Energy and funded in part through the Ontario Smart Grid Fund initiative. Tech […]
The demand for natural gas in India will increase to ~330 MMSCMD by FY 25, while the supply will increase by 60% to around 150 MMSCMD by FY 25, credit rating agency ICRA said. The increase in supply will be due to the likely commencement of GSPC’s Deen Dayal block and ONGC’s KG basin blocks […]
RattanIndia Apna Solar, a venture of Indiabulls-co-founder Rajiv Rattan, has won a contract to place solar panels on 75 public buildings in cities of Bhopal, Indore and Jabalpur in Madhya Pradesh as part of the Madhya Pradesh government’s efforts to increase renewable power generation. The contract was awarded by Madhya Pradesh Madhya Kshetra Vidyut Vitran […]
Coal India Ltd said it has relinquished 170 sq. km out of 224 sq km allocated to it under two licenses for extracting coal in in Tete province of Mozambique. Coal India said the move was the result of study of geological data. “In the 316th Board meeting held on July 04, 2015, on the […]
Rolta Power Pvt. Ltd. and China-based Zhenfa New Energy Science and Technology Co. Ltd. has signed an agreement to build solar parks in India, targeting a capacity of 2 GigaWatt by 2020. “As per the MoU, the partnership enables us to share our revenue with Zhenfa, a win-win scenario for both the companies,” said, Dr. […]
