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ONGC Tripura Power Company Limited (OTPC) signed a Memorandum of Understanding (MoU) with Assam Power Distribution Company Limited (APDCL) in Guwahati on 11 January 2023. The MoU has been inked to develop the Battery Energy Storage System Project of capacity up to 250 MW / 500 MWh in a phased manner in Assam by incorporating a Joint Venture Company. An investment of Rs 2,000 crores will be made in the state for developing the project. During the construction and operation stages of the project, significant direct and indirect employment opportunities will also be generated.

Speaking on the occasion, the Hon’ble Minister of Power, Cooperation, Mines & Minerals, Indigenous & Tribal Faith and Cultural Department, Government of Assam Nandita Gorlosa said that the project will be an important milestone in fulfilling the vision of Hon’ble Chief Minister of Assam of making the State a leader in green energy transition.

Highlighting the benefits of the project, Managing Director of OTPC Sanil C. Namboodiripad said that the project will help the state in improving power availability during peak load hours, improving the integration of renewable energy generation with the electricity grid and enhancing grid reliability. “OTPC, a reliable energy supplier for Assam since 2014, is keen to be the partner of Assam in its transition towards decarbonized energy mix. The energy storage project will bring in multiple avenues of employment, boost local businesses, improve utilization of green energy, carbon emission reduction and overall socio-economic development in Assam,”

Managing Director of APDCL Rakesh Kumar (IAS) said that they are implementing significant solar energy capacity and battery energy storage project is key for successful integration of upcoming solar power projects. He added that with this project, Assam will be pioneer in implementing of energy storage system.

Source: ongcindia

New Delhi : ONGC Tripura Power Company Ltd (OTPC) has signed a pact to develop battery energy storage project in Assam at an investment of Rs 2,000 crore, the firm said in a statement.

The memorandum of understanding (MoU) was signed with Assam Power Distribution Company Limited (APDCL) at Guwahati “to develop battery energy storage system project of capacity up to 250 MW / 500 MWh in phased manner in Assam by incorporating a joint venture company,” it said.

“An investment of Rs 2,000 crore will be made in the state for developing the project,” the statement added without giving a time frame.

OTPC is a joint venture of Oil and Natural Gas Corporation (ONGC), gas utility GAIL (India) Ltd, Government of Tripura and India Infrastructure Fund-II. It owns and operates a 726 MW gas based power plant which caters to 25 per cent of energy demand of all seven north-eastern states.

Highlighting the benefits of the project, OTPC managing director Sanil C Namboodiripad said that the project will help the state in improving power availability during peak load hours, improving integration of renewable energy generation with the electricity grid and enhancing grid reliability.

“OTPC, a reliable energy supplier for Assam since 2014, is keen to be partner of Assam in its transition towards decarbonised energy mix. The energy storage project will bring in multiple avenues of employment, boost to local businesses, improved utilisation of green energy, carbon emission reduction and overall socio-economic development in Assam,” he said.

Source: PTI

Breaking News : Purchase of 250 MW Flexible & Schedulable Power Through Competitive Bidding Process.

Company’s largest solar project helps meet U. S. Steel’s sustainability goals

LITTLE ROCK, Ark. : The Arkansas Public Service Commission has approved the Entergy Arkansas Driver Solar Project, a new 250-megawatt AC (or 312 MW DC) renewable energy facility developed by Lightsource bp, which will be located on approximately 2,100 acres near Osceola in Mississippi County. Driver Solar will be the utility’s largest solar facility, capable of generating enough energy to power more than 40,000 home.

“Driver Solar adds highly economic, renewable generation to our portfolio, further diversifying our energy mix in a way that meets our customers’ evolving expectations,” said Laura Landreaux, president and CEO of Entergy Arkansas. “It is a key contribution toward business expansion in Northeast Arkansas, and we are excited to be a part of it.”

She said, “We are listening to our customers as we develop and execute our generation strategy for the future. We are privileged to be able to work closely with U. S. Steel Corporation to develop sustainable solutions to help them meet their objective of producing steel using renewable electricity while simultaneously lowering rates over the long term for all 728,000-plus Entergy Arkansas customers.”

The Driver Solar site is located along Arkansas Highway 61 near Carson Lake Road and Arkansas Highway 198, just south of Osceola, and will be situated adjacent to both the U. S. Steel’s Big River Steel facility and the recently announced $3 billion expansion. Lightsource bp has completed development and permitting of the solar field and will build the facility under a build-transfer agreement with Entergy Arkansas. Driver Solar has an expected completion date in late 2024.

U. S. Steel Senior Vice President, Chief Strategy and Sustainability Officer Richard Fruehauf said, “This project with Entergy Arkansas and Lightsource bp illustrates the importance of partnerships. Driver Solar not only helps us meet our robust sustainability goals, but it will also help us deliver sustainable steel solutions for our customers. The renewable energy generated will power the production of verdeXTM, our advanced sustainable steel product, which is composed of up to 90% recycled steel content, as well as other products produced at our Big River Works facility.”

Together with their joint venture partner bp, Lightsource bp has been delivering competitively priced, safe, and dependable, clean energy for businesses and communities in the United States and around the world since 2010. Lightsource bp was recently named world’s largest solar developer by Mercom Capital Partners.

In November 2021, Lightsource bp and bp announced a landmark procurement deal with U.S.-based First Solar Inc. for 5.4 gigawatts of First Solar modules. First Solar produces American-made solar modules at its fully vertically integrated manufacturing complex in Ohio. All 250 megawatts of the Driver Solar project will be generated using advanced, ultra-low carbon thin-film modules manufactured by First Solar. In addition to modules supplied by Tempe-based First Solar, the facility will be built with solar trackers manufactured by Albuquerque-based Array Technologies.

“The Driver Solar project is another demonstration of how solar can power our country’s industry with cost-competitive, clean, dependable electricity,” said Kevin Smith, Lightsource bp’s CEO of the Americas. “Arkansas’ largest solar project will help build American-made sustainable steel, as well as create hundreds of U.S. jobs for construction and across the supply chain.”

Landreaux said, “With their solar industry leadership and commitment to supporting domestic manufacturing, we couldn’t be more excited about the opportunity to work with Lightsource bp.”

Driver Solar is expected to provide between 350 and 400 jobs during the construction phase, utilizing the local workforce and subcontractors.

Upon completion, Entergy Arkansas plans to employ outside services for site maintenance, such as land management and vegetation control, operations, office rent, team payroll and other items likely to have a local impact. Local businesses such as restaurants and stores may also benefit indirectly from the infusion of construction workers and activity during this time, company officials said.

In addition, the property taxes associated with Entergy Arkansas’ ownership of the project are conservatively estimated to be an approximate average of $1.2 million for Mississippi County annually over the life of the project, or roughly $36 million in 30 years.

Arkansas Secretary of Commerce Mike Preston said, “Driver Solar enables U. S. Steel to grow its business in Arkansas, meet their sustainability goals, and further demonstrates how the State of Arkansas and Entergy Arkansas support companies that provide high-paying jobs grow in the state.”

Entergy Arkansas already operates one of the cleanest electric generation portfolios in the country. That generation is predominately emission-free due to significant amounts of nuclear, hydro, and solar generation in the portfolio. In addition to its solar-sourced power, Entergy Arkansas currently owns or operates two carbon-free nuclear generating units, which supply 60% of the company’s generating needs.

And its generation will be getting even cleaner over time. To meet customer demands and as described in the Integrated Resource Plan, Entergy Arkansas anticipates replacing a portion of our older natural-gas fired resources in coming years and all our coal-fired resources by 2030 with mainly renewable resources that will deliver needed emission-free electric generation to meet the load and energy requirements of our customers.

The Driver Solar project is another milestone in the modernization of the Entergy Arkansas power generation portfolio, helping meet customers’ needs for cleaner, more efficient, and diverse energy solutions. Beyond providing the benefits of emissions-free generation, the project will promote biological diversity and sustainability by hosting two Monarch butterfly habitat areas to exceed 70 acres.

Entergy Arkansas is adding other renewable generation facilities to serve its customers and communities with more clean energy in the coming years. Earlier this year, the company issued a request for proposals for 1,000 MW of wind and solar resources. In June 2022, Entergy Corporation discussed plans for up to 7 gigawatts of renewable resources by the end of 2025, and as much as 14 to 17 gigawatts of renewable resources by the end of 2031.

About Entergy Arkansas

Entergy Arkansas provides electricity to approximately 730,000 customers in 63 counties. Entergy Arkansas is a subsidiary of Entergy Corporation (NYSE: ETR), an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers through its operating companies in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 24,000 megawatts of electric generating capacity, including 5,000 megawatts of nuclear power. Entergy has annual revenues of $10 billion and approximately 12,000 employees.

About United States Steel

Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the company’s customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel’s proprietary XG3 advanced high-strength steel. The company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe.

About Lightsource bp

Lightsource bp is a global leader in the development and management of solar energy and energy storage projects and a 50:50 joint venture with bp. Our purpose is to deliver affordable, safe and sustainable energy to businesses and communities around the world. Our team includes more than 900 industry experts, working in 18 countries. We provide full scope development for our projects, from initial site selection, financing and permitting to long-term management of solar projects and energy sales to our customers. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta, and Austin. We have over 2,200 megawatts of solar projects in operation or construction in the U.S., represented by 22 projects in 10 different states.

MSEDCL Issue Tender for Supply of 250 MW GRID CONNECTED RENEWABLE ENERGY SOURCES WITH ENERGY STORAGE FACILITY ON LONG TERM BASIS.

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• Serb Republic will provide subsidies for 50,000 solar power systems to be installed with 250 MW combined capacity

• It will be implemented by ERS that will operate and provide initial financial resources for the facilities

• A competitive procurement process will pick interested households and business entities to host these projects

Serb Republic, one of the 2 entities of Bosnia and Herzegovina, has announced it will provide subsidies to a total of 250 MW solar PV capacity to be installed. It will support 50,000 PV projects for residential and commercial buildings, which means an average of 5 kW per installation.

Serb Republic’s Minister of Energy and Mining Petar Đokić said the government has adopted its proposal for the program for the installation of smaller solar plants on residential and commercial buildings in the region.

The program will be implemented by the local power utility Elektroprivreda Republike Srpske (ERS) that will be tasked with operating the solar power plants and also provide initial financial resources for the same.

The administration plans to shell out subsidies through a competitive procurement process for interested households and business entities. More information about the same will be released soon.

“We define this project as a project of special national importance and we believe that it is necessary, fully justified and in the best interest of the citizens and the economy of the Republika Srpska,” said Đokić.

In June 2022, Serb Republic launched an international call for solar companies to build an 80 MW solar power plant in Bileća municipality, to be located next to a 39.6 MW wind farm.

Source: taiyangnews

Declaration of Commercial Operation of 250 MW Kolyat, Bikaner (Shambu ki Burj-1) Solar PV Project.

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Petition of PPA For inter alia seeking extension/ deferment of Scheduled Commissioning Date for 45.6 MW out of the total 250 MW wind power project.

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Declaration of Commercial Operation of 250 MW Captive Power Unit at NSPCL Rourkela.

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Petition for Adoption of Tariff and Regulatory approval for Procurement of 250 MW solar power from grid connected ground mounted solar power plant to be set up in the state of Bihar.

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Filing of Petition for Tariff adoption for Procurement of 250 MW (AC) Solar Power from Grid Connected Ground Mounted Solar Power Plants to be set up in the State of Bihar on Long Term basis.

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Petition for Adoption of Tariff for 250 MW Solar Power from Projects located anywhere in India.

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The 250 MW solar and storage solicitation when complete will enable Platte River to increase the share of noncarbon energy mix in its portfolio to 54%, inching closer to its 100% target for 2030.

A not-for-profit, community-owned public electricity utility, Platte River Power Authority in the US is soliciting proposals to procure up to 250 MW of new solar PV generating capacity, including those with battery energy storage component.

The request for proposals (RFP) calls for the ‘largest amount of new, noncarbon generating capacity to date’ that can start producing electricity by 2025. These need to be located anywhere on the utility’s transmission system in northwest Colorado and the northern Front Range.

Platte River said it may also consider smaller projects of 25 MW or less that can connect to distribution systems of one or all of its owner communities of Estes, Fort Collins, Longmont and Loveland.

Developers are encouraged to include energy storage component that can provide 100% of the project’s nameplate capacity for at least 4 hours and be dispatchable by Platte River when needed.

“The goal is to have distributed energy resources in every owner community,” said General Manager and CEO of Platte River, Jason Frisbie. “We need to proactively manage the intermittency of renewables as we continue to diversify our portfolio in preparation for a future without dispatchable coal resources.”

According to the utility, under the company’s Resource Diversification Policy adopted in 2018 it aims to have 100% noncarbon energy mix by 2030. The 250 MW solicitation will enable it to increase its noncarbon energy mix to 54% in its overall annual energy production.

Last date to submit proposals is February 18, 2022.

Source: taiyangnews

250 MW of new solar generating capacity sought

FORT COLLINS, Colo. :  Platte River Power Authority this week issued a request for proposals (RFP) to obtain up to 250 megawatts (MW) of new photovoltaic solar generating capacity that could begin producing noncarbon energy by 2025.

The RFP calls for the largest amount of new, noncarbon generating capacity to date and encourages any proposed project to include a battery energy storage component. The request also enables bidders to propose installations that could interconnect anywhere on Platte River’s transmission system, including the distribution systems in the owner communities of Estes Park, Fort Collins, Longmont and Loveland.

“As we continue to work toward achieving the Resource Diversification Policy goal, our ongoing challenge will be to maintain Platte River’s core pillars to safely provide reliable, environmentally responsible and financially sustainable energy and services during a time of rapidly improving technology and resource costs,” said Jason Frisbie, general manager and CEO of Platte River. “We need to proactively manage the intermittency of renewables as we continue to diversify our portfolio in preparation for a future without dispatchable coal resources.”

The Resource Diversification Policy was adopted by Platte River’s Board of Directors in 2018. The policy calls for leadership to pursue a 100% noncarbon energy mix by 2030, provided the organization’s core pillars are upheld. In 2020, Platte River maintained 100% transmission system reliability and provided power to its owner communities at the lowest wholesale rates in Colorado. With an additional 250 MW of solar generating capacity, Platte River estimates its overall annual energy production will be approximately 54% noncarbon.

According to the solicitation, developers are encouraged to consider proposing projects that could interconnect with Platte River’s transmission system, including regions in northwest Colorado and the northern Front Range. Particular consideration may also be granted to smaller projects (25 megawatts or less) that could connect to the distribution systems of one or all of Platte River’s owner communities.

Within each project proposed, developers are encouraged to include a battery energy storage component capable of providing up to 25% of the project’s nameplate capacity for at least four hours and be dispatchable by Platte River when needed.

“Connecting solar and battery storage on both the transmission and distribution systems will improve reliability and further advance our strategy of system integration,” added Frisbie. “The goal is to have distributed energy resources in every owner community.”

Proposals are due Feb. 18, 2022, after which Platte River will develop a short list of potential projects that add up to approximately 250 megawatts and sign power purchase agreements later in the year.

Source: prpa

Joint Petition filed by MSPGCL & MSEDCL. seeking approval for adoption of Tariff for long term procurement of power from 250 MW Solar Power project at Dondaicha Solar Park.

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Petition for Tariff adoption for Procurement of 250 MW (AC) Solar Power from Grid Connected Ground Mounted Solar Power Plants to be set up in the State of Bihar on Long Term basis. 

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Filling of Petition for Tariff adoption for Procurement of 250 MW (AC) Solar Power from Grid Connected Ground Mounted Solar Power Plants to be set up in the State of Bihar on Long Term basis.

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ReNew Power on Thursday announced that it has commissioned a 250 MW solar project in Jaisalmer district, Rajasthan.

ReNew Power on Thursday announced that it has commissioned a 250 MW solar project in Jaisalmer district, Rajasthan.

“ReNew Power today announced the commissioning of 250 MW capacity of its Interstate Transmission System (ISTS) solar generation project, SECI-3,” a company statement said.

According to the statement, the project has a total generation capacity of 300 MW, which was won by ReNew Power in tranche 3 of the competitive auction conducted by the Solar Energy Corporation of India (SECI).

ReNew expects the remaining 50 MW capacity to be commissioned by the end of this month.

This solar project is in the Jaisalmer district of Rajasthan, and has a 25-year power purchase agreement (PPA) with SECI and will provide clean electricity to the state of Bihar at a rate of Rs 2.55/kWh (USD 0.035).

The project is also expected to provide direct employment to around 600 people.

In this project, ReNew will install monocrystalline modules with fixed tilt and string inverters that enhance project efficiency.

ReNew will also be using robotic module cleaning at this site to help conserve water in the desert.

“This is the first project to be commissioned after ReNew started trading on NASDAQ (RNW) and is another step towards ReNew achieving close to 18 GW of installed renewable energy capacity by 2025.

According to the statement, the project has a total generation capacity of 300 MW, which was won by ReNew Power in tranche 3 of the competitive auction conducted by the Solar Energy Corporation of India (SECI).

ReNew expects the remaining 50 MW capacity to be commissioned by the end of this month.

This solar project is in the Jaisalmer district of Rajasthan, and has a 25-year power purchase agreement (PPA) with SECI and will provide clean electricity to the state of Bihar at a rate of Rs 2.55/kWh (USD 0.035).

The project is also expected to provide direct employment to around 600 people.

In this project, ReNew will install monocrystalline modules with fixed tilt and string inverters that enhance project efficiency.

ReNew will also be using robotic module cleaning at this site to help conserve water in the desert.

“This is the first project to be commissioned after ReNew started trading on NASDAQ (RNW) and is another step towards ReNew achieving close to 18 GW of installed renewable energy capacity by 2025.

I am delighted that our teams were able to commission this project within the budget as well as within the stipulated time despite COVID related challenges,” Founder, Chairman and CEO of ReNew Power, Sumant Sinha said.

ReNew is India’s leading renewable energy Independent Power Producer (IPP) and is the 10th largest global renewable IPP by operational capacity.

ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects and distributed solar energy projects.

The parent holding company, ReNew Energy Global, was listed on NASDAQ in August 2021.

As of August 31, 2021, ReNew Power has a total capacity of 10.2 GW, out of which 5.8 GW is operational across the wind, solar and hydro energy projects in India and the rest is under construction or in the pipeline.

Source: business-standard

African-American solar developer Volt Energy LLC announced on Wednesday that it will supply electricity to software giant Microsoft Corp (NASDAQ:MSFT) from over 250 MW of utility-scale solar power generating capacity.

The two parties have entered into a power purchase agreement (PPA) which aligns with Microsoft’s objective to source 100% of its energy from renewables by 2025.

The pair have agreed to invest a portion of the revenue from the new contract in community impact funding initiatives. No further details were provided with regard to the terms of the PPA.

“With Volt Energy, we are able to scale the impact of our renewable energy projects by working together to address environmental equity issues, ranging from renewable energy access to workforce training among underserved urban and rural communities,” said Noelle Walsh, CVP, Cloud Operations + Innovation, Microsoft.

Source : renewablesnow

Petition And Guidelines For Tariff Based Competitive Bidding Process for Procurement of 250 MW of Power From Grid Connected Solar PV Power Projects.

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The total value of the project is close to US$ 200 million, of which about a quarter would be financed through equity contributions by the three co-investors, ACME said in a statement.

Gurgaon based solar power project developer ACME signed a shareholders’ agreement with UNOPS S3i and IFU for developing a 250-megawatt (Mw) solar power plant located in the Rajasthan state of India.

The total value of the project is close to US$ 200 million, of which about a quarter would be financed through equity contributions by the three co-investors, ACME said in a statement.

The 250 MW project was won by ACME in 2019 at a tariff of Rs 2.48 per unit.

S3i is a fund by UNOPS or United Nations Office for Project Services for investing in projects affordable housing, renewable energy, and health, and innovation.

IFU is a Danish investment fund for developing countries. IFU provides risk capital to companies operating in developing countries across Africa, Asia, Latin America, and parts of Europe. Investments are made on commercial terms in the form of equity, loans, and guarantees.

“ACME will jointly develop world-class Solar plants using the experiences of our partners in social impact measurement while optimizing operations and energy generation.

This partnership is a key milestone towards ACME’s vision for developing a portfolio of 25 GW of RE projects which comes in line with India’s plans to achieve 450 GW of RE power by 2030.” said Manoj Upadhyay, Founder, and Chairman, ACME Group.

Last week, Norwegian renewable major Scatec entered into an agreement with Gurgaon based ACME Solar to pick up 50 per cent stake in 900 MW solar power plant in Rajasthan. ACME had won this project at record low tariff of Rs 2.44 per unit in 2018.

Source: business-standard

ACME has signed a landmark shareholders’ agreement with UNOPS S3i and IFU for developing a 250-megawatt solar power plant located in the Rajasthan State of India.

The deal supports India’s ambitious renewable targets and will provide clean electricity to half a million families.

Once in operation, the solar plant will provide clean electricity to the equivalent of 500,000 households. It is also estimated that the project will create some 225 jobs in the construction phase, and 75 jobs while the plant is in operation.

The co-investors express their appreciation to Myra Investments for their support in structuring this transaction.

“This is a historic partnership agreement and we are very excited to have UNOPS S3i and IFU as our partners and co-investors in India for the development of solar projects. ACME will jointly develop world-class Solar plants using the experiences of our partners in social impact measurement while optimizing operations and energy generation.

This partnership is a key milestone towards ACME’s vision for developing a portfolio of 25 GW of RE projects which comes in line with India’s plans to achieve 450 GW of REpower by 2030.” said Manoj Upadhyay, Founder, and Chairman, ACME Group

“Providing clean and green power is at the forefront of global commitments to address climate change. We need an urgent transition from fossil fuels to renewable energy.

UNOPS is proud to support India’s climate targets and all of the partners in this landmark renewable energy project” said Grete Faremo, UN Under-Secretary-General, and UNOPS Executive Director.

“We are delighted to have had this opportunity to demonstrate our commitment to the government and people of India and show that we care and willing to take risks while the country is working so hard to combat the devastating COVID-19 pandemic.

As the world is slowly but surely recovering from this modern plague, building back green is the fastest and most optimal way to a more sustainable future” said Vitaly Vanshelboim, Assistant UN Secretary-General and Chief Executive of Sustainable Investments in Infrastructure and Innovation (S3i).

“We are delighted to be part of this investment as it fits very well with our strategy to create green, just, and inclusive societies and matches our requirement of co-investing with strong and competent partners.

It is our first investment under the India-Denmark Green Strategic Partnership signed between the Government of India and Denmark in 2020, and we hope this will be a stepping-stone for creating an even stronger green cooperation between India and Denmark, going forward, said Reik Haahr Müller, Vice President, Climate at IFU

The total value of the project is the equivalent of just under US$ 200 million, of which about a quarter are financed through equity contributions by the three co-investors.

ACME Solar is one of India’s leading IPP players in the solar energy sector with a portfolio of c.5.0GWp, out of which 2.3 GWp is operating and 2.7GWp is under construction.

The assets are well diversified with a presence across 13 states in India and a central: state mix of 65:35. The company has an asset base of c. USD 2Bn. ACME has brought several innovations and introduced the latest technologies for the best solar plant operations.

UNOPS Sustainable Investments in Infrastructure and Innovation (S3i) is dedicated to making the SDGs a reality by investing with meaningful and measurable impact in affordable housing, renewable energy, and health, and boosting innovation.

Our unique role as co-investor and trusted partner enables us to channel private financing in regions and sectors that have struggled heretofore to attract capital.

We bring to bear the UN’s impartiality, fairness, and anti-corruption drive further reinforced by UNOPS’s flexible, agile and solution-oriented approach.

IFU– the Investment Fund for Developing Countries is a Danish impact investor contributing to green, just and inclusive societies as well as supporting the Sustainable Development Goals.

IFU provides risk capital to companies operating in developing countries across Africa, Asia, Latin America, and parts of Europe. Investments are made on commercial terms in the form of equity, loans, and guarantees.

IFU has co-invested in over 1,300 companies in more than 100 developing countries and emerging markets. Contracted investments total EUR 31 billion, of which IFU has contributed EUR 3.4 billion. Capital under management is EUR 1.7 billion. Read more at at www.ifu.dk

Godawari Power and Ispat Ltd (GPIL) on Tuesday posted a multifold jump in consolidated net profit at Rs 304.01 crore for March quarter 2020-21, mainly on the back of higher revenues.

The company’s net profit in the year-ago period was Rs 34.22 crore, a BSE filing said.Total income rose to Rs 1,263.67 crore in the quarter from Rs 787.74 crore in the same period a year ago.

The net profit of the company in 2020-21 also rose to Rs 624.49 crore from Rs 174.43 crore in the previous year.Total income in the last fiscal year was higher at Rs 4,075.96 crore from Rs 3,293.18 crore in 2019-20.

The company’s board recommended a final dividend of Rs 13.50 per equity share of Rs 10 each for 2020-21 in addition to interim dividend of Rs 5 per equity share of Rs 10 each.

The dividend recommended by the board is subject to the approval of the shareholders at the Annual General Meeting to be held on August 28, 2021.

The board also approved a proposal to set up a captive solar PV power plant of 250 MW capacity in Raigarh district of Chhattisgarh at an estimated cost of Rs 750 crore, it added.

The project shall be funded mainly out of internal accruals. The power generated in this project shall be captively consumed in the company’s plant at Silatra Industrial Area, Raipur, Chhattisgarh.

Source: business-standard

Centralised monitoring analytical tool for 250 MW Mandsaur solar PV plant for a period of 06 months

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