The integrated power company reported a profit after tax or net profit of INR 1,052 crore ($127.6 million) in the quarter ended December 2022, a 91% increase year-on-year.
Tata Power will deploy US-based AutoGrid’s software application for electricity load management in Mumbai. It aims to engage 55,000 residential consumers and 6,000 large C&I customers to achieve 75 MW of peak capacity reduction within the first six months. It also plans to scale up the capacity reduction to 200 MW by the summer of 2025.
Indian developer Acme and the Norwegian investment fund have signed the framework agreement to co-invest in developing potential renewable energy projects in India.
India plans to add 76 GW of utility-scale solar and wind power by 2025. This will lead to annual savings of up to $19.5 billion from avoiding coal power, says a new report.
The shift to a low-carbon economy offers both a significant opportunity and a tremendous challenge.
The renewable energy sector (solar and wind) recorded project finance deals worth INR 33,893 crore ($4,598 million) in 2021. No new project finance for coal was reported.
The Indian multinational EPC provider has successfully closed a three-year $107 million sustainability-linked loan with Sumitomo Mitsui Banking Corp.
The state-owned hydropower producer, which has also diversified into the field of solar and wind power, has reported a net profit of INR 2,483 crore ($307 million) for the half-year ended Sept 30, 2022–a 12% jump year-on-year.
Ambitious government targets and commitments by both private and state-owned companies will propel renewable energy installations.
Tata Power is looking to expand its renewable power portfolio in Rajasthan to 10 GW in the next five years, from around 5 GW at present. It will also set up solar manufacturing units in the state.
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