IntelliSmart Infrastructure, a leading smart meter platform, is nearing the end of its sale process, with an Adani Group entity among four shortlisted bidders. The transaction is expected to value IntelliSmart at approximately $400 million. Binding bids are anticipated by mid-June as shortlisted firms commence due diligence.
Reliance Industries cautions that geopolitical tensions and tariff uncertainties could disrupt global trade, impacting its oil-to-chemicals business. The warning follows the US imposing additional tariffs on Indian goods, potentially harming key export sectors like textiles and chemicals. Upcoming India-US trade negotiations are crucial amidst concerns of trade distortions and stagnating demand in China.
India’s Petroleum Ministry confirms stable fuel supplies despite global energy challenges. Crude oil inventories are secure, refineries operate at peak capacity, and no fuel shortages are reported nationwide. The government urges citizens to conserve fuel by using public transport, carpooling, and opting for electric vehicles. These measures aim to ease the nation’s economic burden and…
Central Electricity Regulatory Commission rejected CESC Limited’s petition. The petition sought approval for a tariff related to long-term power procurement. This procurement involved 300 MW of power from wind-solar hybrid projects. The rejection stemmed from non-compliance with competitive bidding guidelines. CESC failed to secure prior approval for deviations. The Commission advised CESC to consider re-bidding.
Vedanta Ltd’s Meenakshi Energy Ltd (MEL) has fully operationalized its 1,000 MW thermal power plant in Tirupati, Andhra Pradesh, within two years of acquisition. The plant, comprising two 350 MW and two 150 MW units, will supply reliable energy to industrial clusters and stable baseload power to grids. This achievement underscores Vedanta’s commitment to India’s…
Nayara Energy has finished its scheduled maintenance at the Vadinar refinery. This critical work involved thousands of personnel and heavy equipment. The refinery, India’s second-largest, is now back online. Nayara ensured fuel supplies remained uninterrupted across its network during the shutdown. The company focused on safety, efficiency, and reliability. This project strengthens India’s energy security.
PFC has secured a EUR 150 million loan from KfW to support India’s Revamped Distribution Sector Scheme (RDSS). This collaboration aims to improve the operational and financial efficiency of power distribution companies nationwide. The partnership between PFC and KfW strengthens Indo-German cooperation in the energy sector, advancing the shared goal of accelerating energy transition and…
Fuel prices saw a hike of about 90 paise per litre. The BJP stated this increase is among the lowest globally. State-run oil firms absorbed significant losses for 76 days before passing on some costs. Global crude prices surged due to the West Asia conflict. India’s fuel price rise remains comparatively low against international benchmarks.
Adani Power received $437 million from Bangladesh in June, settling payment arrears for electricity supplied until March 31. This clears the way for smooth operations at the Godda plant, which supplies 10% of Bangladesh’s electricity. With payments now on track and structural changes implemented, Adani Power anticipates a potential credit rating upgrade.
Sterlite Electric Ltd has secured orders worth Rs 1,500 crore in Q1 FY’26, driven by green energy projects and exports. The company’s advanced conductors, power cables, and OPGW products are in high demand across domestic and international markets. Sterlite Electric is strengthening its global presence with exports to various regions.