Page 10 - Energy Sector

Wärtsilä looks to invest in hydrogen engines, energy storage in India

In India since the 1980s, Wärtsilä has delivered 250 power plants with a total output of 3,500 Mw. It also operates and manages 35 power plants with a total output of over 1,300 Mw

Petroleum Minister Puri to meet Russian counterpart in Vladivostok

India-Russia to review and examine expanding bilateral energy cooperation in energy sector

Satyendar Jain inaugurates 10 MW battery energy storage system

Delhi Power Minister Satyendar Jain on Sunday inaugurated a 10 MW battery energy storage system here which he claimed to be the largest in South Asia

India and Russia discuss expanding cooperation in energy sector

India and Russia on Friday discussed expanding cooperation in the energy sector as New Delhi looks at newer sources of oil and natural gas to diversify its import basket. Oil Minister Hardeep Singh Puri held a video interaction with Russian Energy Minister Nikolay Shulginov on furthering energy cooperation between the two nations, the Indian minister tweeted. India's cumulative investment in oil and gas projects in Russia exceeds USD 15 billion. It is the single largest destination of Indian overseas investment in the oil and gas sector. Russian oil giant Rosneft and its partner in 2017 bought Essar Oil, renamed Nayara Energy, for USD 12.9 billion. "Had an engaging video interaction with HE Mr Nikolay Shulginov, Minister of Energy of the Russian Federation @MinenergoGov. Discussed ways to further expand bilateral energy cooperation, a key pillar of bilateral Special & Privileged Strategic partnership," Puri tweeted. Russia, he said, is the largest investor in India's energy sector

Augment Infrastructure acquires majority stake in CleanMax for Rs 1,650 cr

The company said Augment is purchasing the existing stake of Yellow Bell Investment Ltd and International Finance Corporation (IFC) in CleanMax

Energy-starved Bangladesh discovers new gas field worth over $148 mn

Bangladesh has announced to have discovered a new gas field containing a probable reserve of about 68 billion cubic feet worth over $148 million

JSW Energy first quarter net profit declines 6% to Rs 201 crore

JSW Energy on Friday reported 5.6 per cent decline in consolidated net profit at Rs 201 crore for June quarter 2021-22. "On a comparable basis, adjusting for one-time finance charges, Profit After Tax (PAT) stood at Rs 261 crore (in April-June 2021) compared to reported PAT of Rs 213 crore, in corresponding quarter of previous year. Reported PAT for the quarter stood at Rs 201 crore," a company statement said. During the quarter, total revenue stood at Rs 1,860 crore as against Rs 1,887 crore in April-June 2020-21, primarily due to reduction attributable to the impact of job work at the standalone entity, partly offset by increase in long-term sales and other income. The fuel cost in the quarter fell 11 per cent YoY (year-on-year) to Rs 812 crore, primarily attributable to impact of job work at standalone entity, partly offset by increase in long-term sales at standalone entity as well higher coal prices. Reported Finance cost during the quarter increased 21 per cent YoY to Rs 290

Cairn Energy arbitration case: Riders to invoking 'sovereign immunity'

Earlier this month, a French court permitted Cairn Energy to freeze several India-owned assets in Paris for executing the $1.2-billion international arbitral award in the decade-long tax dispute

Reliance's O2C, new energy biz may be valued more than $100 bn: Report

Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of USD 36 billion for the new energy business

Why switching over to laggards may prove rewarding in stock market

FMCG, Pharma and Energy are sectors that have delivered lower returns than benchmark indices in the past year

Hyundai Motor to invest in Solid Energy Systems, a next-gen battery company

Solid Energy and General Motors are planning to construct a lithium metal battery test production plant near Boston by 2023, and will commercialise it in 2025.

Sales volume jumps 48% to 7,093 MU in June at Indian Energy Exchange

The electricity market achieved a volume of 21,340 million units (MU) during the first quarter (April-June), registering 44 per cent growth year-on-year.

NTPC declares its Energy Compact Goals for sustainability at UN dialogue

National Thermal Power Corporation (NTPC) has become the first energy company in the energy domain in India to declare its Energy Compact Goals as part of the UN High-level Dialogue on Energy (HLDE).

JSW Energy net profit remains flat at Rs 107 crore in March quarter

The board in its meeting on Friday recommended declaration of dividend of Rs 2 per equity share of Rs 10

Amara Raja carves out new biz unit, re-fashions as energy and mobility firm

The announcements by Amara Raja comes amid the thrust India's policy makers have been giving to electric mobility in its endeavour to reduce carbon emissions and reduce oil import bill.

French giant Total rebranded to reflect shift to broad Energy business

TotalEnergies, as it is now called, said it produces and sells energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity

SoftBank Energy India sale: Cautionary tale for foreign companies

Industry execs say ambitious plans couldn't match up to Indian policy environment

Revamp not to impact biz; in talks with global cos for large fields: ONGC

ONGC plans to acquire much larger acreage via open acreage licensing policy

Reliance Industries, other energy majors form hydrogen coalition

Led by domestic energy giant Reliance Industries, many global energy and industrial players on Tuesday came together to form a new energy transition coalition, called the India H2 Alliance (IH2A)

Taken steps towards making Rajasthan self-reliant in energy sector: CM

The Rajasthan government has taken many important steps towards making the state self-reliant in energy sector, Chief Minister Ashok Gehlot said on Saturday.