Torrent Power operates across the entire power value chain-coal-based and gas-based generation, renewables, transmission and distribution. We are also expanding into energy storage and green hydrogen. Importantly, every segment of the value chain is seeing growth today, giving us multiple growth engines and a balanced portfolio, says Jinal Mehta.
The resolution plan submitted by the consortium was approved by the National Company Law Tribunal in November, the central government company informed the exchanges.
Electricity distribution companies are showing better payment habits. This is helping power generators receive payments on time. Key operational metrics have improved significantly. The gap between costs and revenue has narrowed. Technical and commercial losses have also fallen. The sector reported its first profit in years. However, performance varies across states.
The United States is intensifying sanctions on Iran’s oil industry, targeting over two dozen individuals, companies, and ships linked to petroleum magnate Mohammad Hossein Shamkhani. This action aims to curb Iran’s revenue generation as it continues to blockade the Strait of Hormuz amid the ongoing Middle East war.
Crisil Ratings projects a doubling of investments in thermal power. This surge aims to meet India’s escalating energy needs. Investments are expected to reach Rs 2.3 lakh crore by fiscal year 2028. Private companies will contribute a third of the investment. The government targets 80 GW of thermal capacity by fiscal year 2032.
The Supreme Court will review the Indian Energy Exchange’s challenge to a regulatory order. This order mandates market coupling for power trading. The court refused to halt the implementation of this process. The Indian Energy Exchange argues the order is arbitrary and will harm its market share. The Central Electricity Regulatory Commission is now required…
Construction of Bhutan’s Punatsangchhu-I hydropower project has restarted after a seven-year halt. India is providing financial support for the 1,200-MW project. Dam work commenced following a ceremony attended by Indian and Bhutanese ministers. The project faced delays due to technical issues and slope stabilization needs.
Indian refiners are making payments for Iranian oil using Chinese yuan. This is happening through ICICI Bank’s Shanghai office. Indian Oil and Reliance have bought shipments under a temporary U.S. sanctions waiver. This payment method has not been previously reported. India has also used yuan for Russian oil. The U.S. waiver on Iranian oil is…
A desperate scramble for immediately available oil supplies is occurring globally, with traders paying unprecedented prices for prompt cargoes. This physical market frenzy contrasts with futures, highlighting a significant crude shortfall as Middle East supplies are disrupted. Refiners may cut production, deepening shortages of vital products like diesel and jet fuel.
Financial support to developers will be provided at a maximum of 20% of the cost of plant and machinery through a competitive bidding process, where incentives will be disbursed in four equal instalments linked to project milestones. The incentive for a project will be capped at Rs 5,000 crore and for any single product, except…