Tata Power reports record profit of INR 4,280 crore for FY 2024
Tata Power has recorded INR 61,542 crore of revenue and INR 4,280 crore net profit for the fiscal year ended March 31, 2024.
India’s first utility-scale, standalone battery energy storage project receives regulatory approval
BSES Rajdhani Power Ltd’s 20 MW/ 40 MWh project is India’s first utility-scale standalone battery energy storage system to obtain regulatory approval under Section 63 of the Electricity Act, 2003. The project is supported by concessional loan from the Global Energy Alliance for People and Planet (GEAPP).
JSW Energy FY 2024 profit up 17% to INR 1,723 crore
JSW Energy posted a revenue of INR 11,941 crore and net profit of INR 1,723 crore for the fiscal year ended March 31, 2024.
Designing the best-performing hybrid renewable energy system for off-grid, rural communities in India
A new study evaluates seven different configurations of hybrid renewable energy systems to meet the electricity requirements of an off-grid village community in the Jaisalmer district of Rajasthan, cost-effectively and sustainably. It finds the system combining solar PV panels, wind turbines, biogas generator, lithium-ion battery, converter, electrolyser, and hydrogen tank to be the best performing as it has the lowest fuel consumption rate, net present cost, levelised cost of energy, and cost of hydrogen.
India tendered ‘record’ 70 GW of renewables in FY 2024
India invited bids to set up 69.8 GW of renewable energy capacity, far surpassing the annual bidding target of 50 GW. The bidding activity surged due to large-scale potential for market growth, central government support in terms of targets and regulatory frameworks, and higher operating margins.
The Hydrogen Stream: Hygenco to set up green hydrogen, ammonia project at Tata Steel SEZ’s Gopalpur Industrial Park
Hygenco aims to produce 1 million tonnes per annum (MTPA) of green ammonia from its plant at Tata Steel SEZ’s Gopalpur Industrial Park in Odisha. The project’s initial phase is set for commissioning by December 2026.
Tata Power secures PPA with SJVN for 460 MW renewables-plus-storage project
Tata Power Renewable Energy Ltd will develop a hybrid plant comprising solar, wind, and battery storage components to meet the 460 MW firm and dispatchable renewable power requirement.
Adani Green Energy revenue up 33% YoY to INR 7,735 crore
Adani Green Energy Ltd (AGEL) also reported its operational capacity grew 35% YoY to 10,934 MW with greenfield addition of 2,418 MW solar and 430 MW wind projects. The company’s renewable energy capacity target is now revised upwards to 50 GW by 2030.
Declining battery costs to boost adoption of battery energy storage projects: ICRA
Battery prices reached an all-time low in 2023 led by the moderation in raw material prices amid the increase in production across the value chain
India installed 15 GW of solar capacity in FY 2024: CEEW-CEF
India added 18.5 GW of renewable energy generation capacity in FY 2024, comprising 81% (15 GW) from solar (grid-scale and rooftop).
