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PFC pays record interim dividend of Rs 3,630 cr for 2023-24 The Power Finance Corporation (PFC), a Maharatna Central Public Sector Enterprise, paid Rs 554 crore as the third interim dividend to the government on Wednesday for the financial year 2023-24. This is in addition to the first interim dividend of Rs 832 crore and the second interim dividend of Rs 647 crore paid earlier by the PFC to the government for its share of equity. The total interim dividend paid to the government, which has a 56% stake in PFC, works out to Rs 2,033 crore. With t...
PFC pays record interim dividend of Rs 3,630 cr for 2023-24
PFC pays record interim dividend of Rs 3,630 cr for 2023-24
Source: IANS
2024-04-04 09:50:13 am
Government steps up efforts to meet peak summer power demand without outages The government has stepped up its efforts to ensure that the electricity demand in the upcoming peak summer season is met in the country without any outages. At a meeting held on Tuesday, Minister for Power and New & Renewable Energy, R.K. Singh, reviewed the power capacity status of all the thermal power plants experiencing partial outages to ensure maximum availability of thermal capacity. He has also directed that the planned maintenance of thermal plants be shifted from the summ...
Government steps up efforts to meet peak summer power demand without outages
Government steps up efforts to meet peak summer power demand without outages
Source: IANS
2024-04-03 09:42:09 am
Adani Electricity Mumbai tops Centre`s discom ranking Adani Electricity Mumbai has topped the rating list of India's 55 power distribution companies (discoms) released by the Union Power Ministry on Monday. The 12th Edition of Integrated Rating of Discoms, which evaluated the performance of 55 electricity distribution utilities, rated 12 utilities with the highest ranking of A+. In the list, Torrent Power Surat ranked at the second position, Torrent Power Ahmedabad at the third position, followed by Gujarat's state power utilities ...
Adani Electricity Mumbai tops Centre`s discom ranking
Adani Electricity Mumbai tops Centre`s discom ranking
Source: IANS
2024-03-12 10:37:30 am
REC inks pact to bankroll infra projects worth Rs 20,000 crore a year in Rajasthan  REC Limited, a Maharatna CPSE under the Ministry of Power, has signed an MoU with the Rajasthan government to finance projects across power and non-power infrastructure sectors with an investment of up to Rs 20,000 crore per annum for a period of six years, extending up to 2030, according to a company statement issued on Monday. REC chairman and MD Vivek Kumar Dewangan said, “Under this agreement, REC Limited will provide loans of upto Rs 20,000 crores annually for the next six...
REC inks pact to bankroll infra projects worth Rs 20,000 crore a year in Rajasthan
REC inks pact to bankroll infra projects worth Rs 20,000 crore a year in Rajasthan
Source: IANS
2024-03-11 02:27:59 pm
Government amends Electricity Rules: Timeline for new connections cut, setting up rooftop solar units turns easier The government has approved amendments to the Electricity (Rights of Consumers) Rules that will further reduce the timeline for getting new electricity connections and simplify the process of setting up rooftop solar installations, Minister for Power and New & Renewable Energy R. K. Singh said on Friday. The minister said that the amendments empower consumers living in multi-storied flats in choosing their connection type and ensure separate billing for common areas and back-up generat...
Government amends Electricity Rules: Timeline for new connections cut, setting up rooftop solar units turns easier
Government amends Electricity Rules: Timeline for new connections cut, setting up rooftop solar units turns easier
Source: IANS
2024-02-23 01:42:32 pm
Centre to sign pact with TERI for institute for energy transition: R.K. Singh The Union Power Ministry intends to sign a memorandum of agreement with The Energy and Resources Institute (TERI) for setting up an institute for energy transition at TERI campus in Hyderabad, Union Power and New and Renewable Energy Minister R.K. Singh said on Friday. "The Ministry of Power and New Renewable Energy is getting into an agreement with TERI for setting up an institute on energy transition. We will look to this institute to work out various pathways for transition, to ide...
Centre to sign pact with TERI for institute for energy transition: R.K. Singh
Centre to sign pact with TERI for institute for energy transition: R.K. Singh
Source: IANS
2024-02-10 09:52:11 am
Total outstanding dues of Discoms come down to Rs 50,000 crore in January: Power Minister Power Minister R. K. Singh has said that total outstanding dues of power distribution companies (Discoms) have come down to around Rs 50,000 crore as on January 31, 2024 following the implementation of Electricity (LPS and Related Matters) Rules, 2022. Total outstanding dues of distribution companies (discoms) were at Rs 1,39,947 crore in June 2022.  With the implementation of the rules, a remarkable improvement has been seen in recovery of outstanding dues.  The minister said di...
Total outstanding dues of Discoms come down to Rs 50,000 crore in January: Power Minister
Total outstanding dues of Discoms come down to Rs 50,000 crore in January: Power Minister
Source: Accord Fintech
2024-02-09 11:29:17 am
India`s solar power potential estimated at 748 GW; Rajasthan tops, J&K 2nd India’s total solar energy potential has been estimated at 748 GWp (Giga Watt peak), Union Minister for New & Renewable Energy and Power, R.K. Singh, informed the Parliament on Wednesday. The estimate has been provided by the National Institute of Solar Energy (NISE), on the basis of data from Waste Land Atlas of India 2010. Rajasthan tops the list with 1,42,310 MW, followed by the Union Territory of Jammu & Kashmir in second spot with 1,11, 050 MW, while Maharashtra is pl...
India`s solar power potential estimated at 748 GW; Rajasthan tops, J&K 2nd
India`s solar power potential estimated at 748 GW; Rajasthan tops, J&K 2nd
Source: IANS
2024-02-08 09:48:53 am
Government working on policy mechanism to promote use of green hydrogen With an aim to increase adoption of renewable energy and use of green hydrogen as envisaged in the National Green Hydrogen Mission, the Ministry of New and Renewable Energy is working on the modalities for promoting the use of green hydrogen in supporting round-the-clock electricity. The officials had detailed discussions on the various potential options for using Green Hydrogen as a storage medium for supporting round-the-clock power and peak power demand. They also discussed various mech...
Government working on policy mechanism to promote use of green hydrogen
Government working on policy mechanism to promote use of green hydrogen
Source: Accord Fintech
2024-02-07 03:03:21 pm
Additional funds for steel sector under National Green Hydrogen Mission, if required: R K Singh The Union Power and New & Renewable Energy Minister R K Singh has assured stakeholders that additional funds will be allocated for decarbonisation of the steel sector under National Green Hydrogen Mission, if required. He also said that the funds available under the mission should be used to develop technology for integration of hydrogen in steel making. He said some manufacturers have already begun to experiment using green hydrogen in the steel sector. The idea of this meeting is to dec...
Additional funds for steel sector under National Green Hydrogen Mission, if required: R K Singh
Additional funds for steel sector under National Green Hydrogen Mission, if required: R K Singh
Source: Accord Fintech
2024-01-25 11:51:27 am
India`s ACME Group inks pact to supply green ammonia to Japan`s IHI Corporation  ACME Group, a leading renewable energy company in India, and IHI Corporation, a Japanese integrated heavy industry group, have signed an offtake term sheet for supply of green ammonia from India to Japan. The term sheet between IHI and Acme covers the supply of 0.4 MMTPA (million metric tons per annum) of green ammonia from Phase-1 of Odisha project in Gopalpur on a long-term basis. Both companies plan to partner across the value chain, starting from production to logistics, suppl...
India`s ACME Group inks pact to supply green ammonia to Japan`s IHI Corporation
India`s ACME Group inks pact to supply green ammonia to Japan`s IHI Corporation
Source: IANS
2024-01-24 09:35:46 am
Power capacity from non-fossil fuels to touch 65% by 2030: Minister Minister for Power and New & Renewable Energy R.K. Singh said on Friday that India is adding renewable energy capacity at a pace that is one of the fastest in the world and is likely to increase its power capacity from non-fossil fuels to 65 per cent by 2030. The Minister observed that India has emerged as a country which is at the forefront of energy transition. "We had pledged that we will have 40 per cent of our capacity from non-fossil-fuels by 2030, and today, we have 44 p...
Power capacity from non-fossil fuels to touch 65% by 2030: Minister
Power capacity from non-fossil fuels to touch 65% by 2030: Minister
Source: IANS
2024-01-20 10:31:34 am
Solar PV module manufacturing projects of 48.3 GW capacity okayed under Centre`s PLI scheme The central government has given the go-ahead to big GW scale projects for setting up around 48.3 GW of integrated high efficiency Solar PV module manufacturing capacity in the country under its Production Linked Incentive (PLI) Scheme as part of the big push to green energy, according to Minister of Power and Renewable Energy R.K. Singh. Demand for India-made solar PV modules is expected to get a fillip with the Central Public Sector Undertaking (CPSU) Scheme Phase-II for setting up 12,00...
Solar PV module manufacturing projects of 48.3 GW capacity okayed under Centre`s PLI scheme
Solar PV module manufacturing projects of 48.3 GW capacity okayed under Centre`s PLI scheme
Source: IANS
2023-12-23 01:51:42 pm
Non-fossil fuels account for 44% of India`s power generation capacity - power minister  Non-fossil fuel sources accounted for about 44% of India's power generation capacity as of October end, the country's Power and Renewable Energy Minister R K Singh told Parliament on Tuesday. The world's third-largest greenhouse gas emitter, India aims to boost the share of non-fossil fuel sources in its electricity generation capacity to 50% by 2030. These include solar and wind energy, nuclear and hydro power, and bio-power. "So far, a total of 186.46 GW (gigawa...
Non-fossil fuels account for 44% of India`s power generation capacity - power minister
Non-fossil fuels account for 44% of India`s power generation capacity - power minister
Source: Reuters
2023-12-05 04:54:24 pm
Centre tells states to build coal stocks for meeting peak season power demand The Centre has advised the states to maintain adequate stocks of coal to meet the rising energy demand during the peak April to June 2024 season Union Power Minister RK Singh told the power ministers of states, at a meeting in Delhi, that demand for electricity can go up by 250 GW, hence states must make sure to have enough coal and use this period to build up stocks. While Coal India and other domestic sources including captive mines have increased supplies, this did not prove to be su...
Centre tells states to build coal stocks for meeting peak season power demand
Centre tells states to build coal stocks for meeting peak season power demand
Source: IANS
2023-11-09 10:12:06 am
Thermal power to continue to play important role till round-the-clock renewable power is available: R K Singh Stressing on the intermittent nature of energy supply through renewable sources, Union Power Minister R K Singh has said that conventional thermal power capacity will continue to play an important role till round-the-clock renewable power is available. He said there will be no compromise on providing round-the-clock power supply to people in the country. He also said that there will be more renewable energy capacity addition than conventional power (thermal coal or lignite based).  Th...
Thermal power to continue to play important role till round-the-clock renewable power is available: R K Singh
Thermal power to continue to play important role till round-the-clock renewable power is available: R K Singh
Source: Accord Fintech
2023-11-07 02:34:31 pm
International Solar Alliance says global facility to fund renewable energy projects to receive $35 mn The International Solar Alliance (ISA) on Tuesday announced that the Global Solar Facility (GSF), a payment guarantee fund formed by it to stimulate investments into solar power projects, is set to receive a capital contribution of $35 million. The Indian government is considering a $25 million investment as capital contribution in the GSF in addition to $10 million coming from the ISA. Bloomberg Philanthropies and CIFF have also committed their support to the GSF, which is designed to ...
International Solar Alliance says global facility to fund renewable energy projects to receive $35 mn
International Solar Alliance says global facility to fund renewable energy projects to receive $35 mn
Source: IANS
2023-11-01 10:33:36 am
Renewable energy sources can supply 65% of world's total electricity by 2030: Raj Kumar Singh Union Power and New & Renewable Energy Minister R K Singh has said that renewable energy sources have the potential to supply 65 per cent of the world's total electricity by 2030 and decarbonise 90 per cent of the power sector by 2050.  The minister noted that currently, around 80 per cent of the global population resides in countries that depend on fossil fuel imports, totalling a staggering 6 billion people.  He stressed that the objective is to triple global renewab...
Renewable energy sources can supply 65% of world's total electricity by 2030: Raj Kumar Singh
Renewable energy sources can supply 65% of world's total electricity by 2030: Raj Kumar Singh
Source: Accord Fintech
2023-10-31 12:39:21 pm
Government planning to register only India-made solar panels under ALMM: RK Singh Minister for New and Renewable Energy RK Singh has said that the government is planning to register solar panels made up of only domestically manufactured cells, wafers and polysilicon under the Approved List of Models and Manufacturers (ALMM) in the next 3-4 years. Singh has also asked the concerned officers of his ministry to prepare a policy in this regard. ALMM was introduced by the government to boost domestic manufacturing of solar panels. He said the modules with less efficiency are re...
Government planning to register only India-made solar panels under ALMM: RK Singh
Government planning to register only India-made solar panels under ALMM: RK Singh
Source: Accord Fintech
2023-10-23 10:25:01 am
Indian aviation industry leaders thank Jyotiraditya Scindia for game-changing legal amendment High-ranking representatives from four major airlines in India, including Air India, SpiceJet, Vistara, and IndiGo, convened in the national capital on Tuesday to meet Union Minister of Civil Aviation, Jyotiraditya Scindia.As per officials, the purpose of this meeting was to express their gratitude for a recent legal amendment that has significant implications for the aviation industry.?Air India's Managing Director and CEO, Campbell Wilson; Vistara's CEO, Vinod Kannan; SpiceJet's Chairman an...
Indian aviation industry leaders thank Jyotiraditya Scindia for game-changing legal amendment
Indian aviation industry leaders thank Jyotiraditya Scindia for game-changing legal amendment
Source: IANS
2023-10-18 10:18:58 am
Government to bring out another PLI scheme for batteries to bring down cost: Raj Kumar Singh The Union Power and New & Renewable Energy Minister R K Singh has said that the government will bring out another production-linked incentive (PLI) scheme for batteries to bring down cost and boost the adoption of electric vehicles in India. He was of the view that the price of storage will come down with higher volumes.?The minister pointed towards limited battery manufacturing capacity in the world and termed it as a reason for high prices. He opined that higher cost and lower driving range...
Government to bring out another PLI scheme for batteries to bring down cost: Raj Kumar Singh
Government to bring out another PLI scheme for batteries to bring down cost: Raj Kumar Singh
Source: Accord Fintech
2023-10-17 12:15:04 pm
India, Saudi Arabia sign pact on clean hydrogen, supply chains India and Saudi Arabia on Sunday signed a MoU on electrical interconnections, green and clean Hydrogen and supply chains.The MoU was signed between Power Minister R.K. Singh, who is currently in Riyadh and Saudi Arabian energy minister Abdulaziz bin Salman Al-Saud on the sidelines of the MENA climate week.This MoU aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection, exchange of electricity during peak times and emergencies...
India, Saudi Arabia sign pact on clean hydrogen, supply chains
India, Saudi Arabia sign pact on clean hydrogen, supply chains
Source: IANS
2023-10-09 10:49:47 am
India headed to meet 500 GW green energy target ahead of 2030, says minister Power and New & Renewable Energy Minister R.K Singh on Monday expressed confidence that India will achieve its target of producing 500 GW renewable energy well ahead of the 2030 deadline.Addressing apex business chamber FICCI's India Energy Transition Summit 2023, the minister further stated if the country had not lost two years due to the COVID-19 pandemic, it would have achieved the goal of setting up 50 per cent of its power generation capacity based on non-fossil fuels, by now.India has 4...
India headed to meet 500 GW green energy target ahead of 2030, says minister
India headed to meet 500 GW green energy target ahead of 2030, says minister
Source: IANS
2023-09-25 05:46:36 pm
Green hydrogen will cut cost of energy to Rs 6 per unit: Minister The Union Minister for Power and New & Renewable Energy, R.K. Singh, said on Saturday that the cost of round-the-clock renewable energy will fall to just about Rs 6 per unit from Rs 8 per unit at present if green hydrogen is used for storage.Speaking at the special ministerial session of the Fourth International Conference & Exhibition on Clean Energy here, Singh said that the cost of green hydrogen would be cheapest in India and that it would become a viable energy storage alternativ...
Green hydrogen will cut cost of energy to Rs 6 per unit: Minister
Green hydrogen will cut cost of energy to Rs 6 per unit: Minister
Source: IANS
2023-09-16 09:18:46am