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During a meeting, NTPC — with a cumulative installed capacity of almost 84 GW – said that operating units below 55% minimum technical load (MTL) is technically not feasible, particularly due to issues such as poor coal quality View More
India will get its first amorphous electrical steel manufacturing plant at Sri City in Andhra Pradesh. Proterial India will invest Rs 1,350 crore to manufacture advanced amorphous metal electrical steel (Metglas) in partnership with Shirdi Sai Electricals. This material, used in distribution transformers, reduces core losses by 20-30%, significantly improving energy efficiency and curbing substantial annual electricity losses in India. View More
Proterial India , a subsidiary of Japan-based Proterial Private Limited, is set to invest Rs 1,350 crore in this facility. The plant will manufacture advanced amorphous metal electrical steel, known as Metglas, and which is used in distribution transformers. Compared to conventional steel, amorphous steel reduces transformer core losses by 20–30 percent and improves energy efficiency. The use of metglas in electrical transformers will help in curbing transmission and distribution (T&D) losses. India loses 290 billion units of electricity annually due to T&D losses, which are both due to technical inefficiencies and power thefts. Official estimates peg T&D losses at 16.64% -- about 3.55% in transmission and 13.09% in distribution. Use of metglas in transformers can curb these T&D losses and go a long way in strenghthening energy efficiency. According to state government sources, the company will be announcing details of the project within this week. A senior official, who did not wish to be identified, told ET, “This is a major step towards Make in India. This goes a long way in strengthening the country’s energy efficiency and domestic manufacturing capabilities.” Proterial India, which was formerly Hitachi Metals, is partnering with Shirdi Sai Electricals to establish the manufacturing facility. According to sources, Shirdi Sai Electricals holds a 26 per cent equity stake and will ensure integrated supply chain support for transformer manufacturers. The facility is expected to generate over 500 direct employment. Proterial is considered a global leader in amorphous metal electrical steel technology and has manufacturing facilities in United States and Japan. It has been supplying to the Indian market over the last 20 years. The manufacturing facility aligns with the Centre’s push to speciality steel production. In November 2025, the Centre had rolled out the third round of production linked incentive (PLI) scheme for speciality steel, which covered 22 new grades including amorphous steel. Sources said the company will leverage this PLI scheme. Live Events .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
India's major oil companies and the Shipping Corporation of India are joining forces. This new venture will acquire ships to transport crude oil and refined fuels. The goal is to reduce dependence on foreign vessels. This move aims to save India significant foreign exchange annually. The joint venture will also boost India's energy security. View More
Mumbai: India's oil refiners and its state-run shipping utility are committing significant equity stakes to a dedicated maritime freighting joint venture to cut overseas reliance on transporting both crude oil and refined fuels, progressively reducing a part of the ₹6 lakh crore annual bill India foots to charter foreign vessels for inbound and outbound logistics. Indian Oil Corp ( IOCL ), Bharat Petroleum Corp ( BPCL ), and Hindustan Petroleum Cor ( HPCL ) would together own 35% in the proposed joint venture with the Shipping Corporation of India (SCI), the latter's Chairman BK Tyagi told ET. "We are still working on the technical specifications and tender terms of the JV," Tyagi said. "Our partners IOCL, BPCL, and HPCL will together hold 35% stake in the company. We will hold a 50% stake." Besides the above stakeholders, the Maritime Development Fund (MDF) would own the remaining 15%. The joint venture is aimed at progressively onshoring the chartering business through SCI, both helping the state-run shipping utility and conserving forex for the oil marketing companies (OMC). Live Events "By being part of this joint venture, OMCs aim to reduce the dependence on foreign vessels, thereby cutting the outgo of foreign exchange in hiring foreign-flagged ships and enhancing India's energy security," said a senior OMC official, on the condition of anonymity. Industry estimates suggest India's inbound and outbound cargo logistics would cost around ₹6 lakh crore. The MDF is a government initiative designed to provide financial assistance to India's maritime sector. It is a blended finance model to attract private investment and has a corpus of ₹25,000 crore to provide long-term financing for the maritime sector. IOCL, BPCL, and HPCL did not respond to an emailed query. The joint venture will facilitate the buying of 59 ships - very large crude carriers, very large gas carriers, offshore vessels, etc. - through a combination of second-hand purchases from the market and newly built vessels from Indian yards. This may entail an investment of around ₹15,000-17000 crore. The SCI, Tyagi said, would provide technical, operational, and regulatory expertise while IOCL, BPCL, and HPCL will enable cargo commitment through long-term charter contracts. The ships acquired through the JV will be managed by SCI for a certain management fee to be paid by the JV company. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
With this, the total installed capacity of NTPC group stands at 88,132 MW and commercial capacity at 87,052 MW View More
The Union Cabinet has approved a significant boost for Powergrid. The company's equity investment limit per subsidiary is now Rs 7,500 crore, up from Rs 5,000 crore. This change allows Powergrid to bid for large transmission projects. It will support renewable energy evacuation and enhance competition in project bidding. Consumers will benefit from more affordable clean energy. View More
New Delhi: The Union Cabinet on Tuesday approved a proposal to increase the equity investment threshold of public sector enterprise Powergrid from Rs 5,000 crore to Rs 7,500 crore per subsidiary to enable it to bid for capital-intensive transmission projects. The decision was taken by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, at its first meeting at the Prime Minister's new office, Seva Teerth. "The CCEA has approved enhanced delegation to Powergrid under the guidelines dated February 4, 2010, of the Department of Public Enterprises (DPE) on delegation of powers applicable to 'Maharatna' CPSEs. "The approval enhances the permissible equity investment limit of Powergrid from the current threshold of Rs 5,000 crore per subsidiary to Rs 7,500 crore per subsidiary, while retaining the existing cap of 15 per cent of the company's net worth," Information and Broadcasting Minister Ashwini Vaishnaw told reporters after the meeting. The approval will enable Powergrid, the largest and most experienced transmission service provider in the country, to expand its investment in its core business and support the evacuation of renewable energy capacity, helping achieve the target of 500 GW from non-fossil-based sources. Live Events The Central Public Sector Enterprise (CPSE) can now participate in the bids for capital-intensive transmission projects, such as Ultra High Voltage Alternating Current (UHVAC) and High Voltage Direct Current (HVDC) transmission networks. Additionally, it will broaden competition in Tariff-Based Competitive Bidding (TBCB) for selection of bidders for critical transmission projects, thus ensuring better price discovery, which will ultimately lead to the availability of affordable and clean energy for consumers, said an official release. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Adani Power’s subsidiary Moxie Power Generation has won a five-year contract to deliver 558 MW of electricity to Tamil Nadu starting April 1, 2026. The arrangement strengthens Adani Power’s long-term capacity commitments and revenue pipeline, while helping Tamil Nadu secure a stable, cost-effective power supply for households and businesses across the state. View More
New Delhi: Adani Power arm Moxie Power Generation has received a Letter of Award (LoA) from Tamil Nadu Power Distribution Corp for supply of 558 MW (net) of power for a period of five years. Moxie Power operates a 1,200 MW (2X 600 MW) power plant in Tuticorin, Tamil Nadu, a company statement said. According to the statement, Adani Power, India's largest private power producer with a generation capacity of 18.15 GW, on Tuesday said its subsidiary Moxie Power Generation Ltd (MPGL) has received a letter of award from Tamil Nadu Power Distribution Corp (TNPDCL) for supply of 558 MW (net) of power for a period of 5 years. The MPGL emerged as the lowest bidder in a tightly contested bid by offering a tariff of Rs 5.910 per unit, with supply starting April 1, 2026. Now, both units of the plant have power supply agreements, and more than 95 per cent of Adani Power's total operating capacity is secured with medium to long-term contracts. Live Events This provides significant long-term revenue visibility and also derisks the company from short-term market volatility. The company aims to achieve almost 100 per cent power purchase agreement (PPA) tie-up for all its operational and under commissioning plants over the coming years. This power supply agreement is expected to benefit Tamil Nadu consumers by providing an additional 558 MW of reliable and high-quality power, enhance grid stability, and support uninterrupted electricity supply to households, businesses, and industries. By securing power at a competitive tariff, consumers are expected to benefit from more affordable and dependable energy in the years ahead. Adani Power is the largest private thermal power producer in India. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
The company has stated that it aims to achieve close to 100% power purchase agreement tie-ups for all operational and under-commissioning plants in the coming years View More
Accord Transformer and Switchgear's SME IPO saw a robust start, subscribed 10.55 times on Day 1 with strong retail and NII participation. The Rs 25.59 crore issue, priced between Rs 43-46, closes on February 25. Grey market signals indicate a potential listing premium of around Rs 13 per share. View More
Accord Transformer and Switchgear's Rs 25.59 crore SME IPO will open for subscription on Monday and received a strong response on the first day, even as the issue still has two more days to run. The IPO is subscribed 10.55 times as of the end of Day 1, with robust participation from retail and high net-worth investors. The book-built issue is entirely a fresh issue of 55,62,000 equity shares and will close on February 25. The price band has been fixed at Rs 43 to Rs 46 per share. At the upper end of the band, the company will command a pre-IPO market cap of around Rs 94.64 crore. The shares are scheduled to list on the BSE SME platform on March 2. Grey market signals remain firm, with the IPO commanding a GMP of 29%. At the upper issue price of Rs 46, this translates into a potential premium of around Rs 13 per share, indicating an implied listing price in the range of Rs 59-60, subject to market conditions. Strong retail and NII demand on Day 1 Subscription data shows heavy interest from retail investors and NIIs on the first day. The retail portion was subscribed 16.26 times, with bids received for over 3 crore shares against 18,48,000 shares reserved for the category. Live Events The NII segment was subscribed 11.27 times. Within this, the bNII portion was subscribed 11.86 times, while the sNII segment was subscribed 10.09 times. However, the QIB (excluding anchor) portion saw limited participation on Day 1, with subscription at 0.02 times. The QIB book will be closely tracked over the next two days, as institutional participation often picks up towards the close of the issue. In total, bids were received for 3,89,85,000 shares against 36,96,000 shares on offer, with 5,577 applications recorded on Day 1. The company had already raised Rs 7.29 crore from anchor investors on February 20 by allocating 15,84,000 shares. The anchor lock-in period ends in 30 and 90 days for different tranches. IPO structure and investment size The IPO offers 55,62,000 shares in total, of which 26,40,000 shares are reserved for QIBs, including 15,84,000 shares allocated to anchor investors. The NII portion comprises 7,92,000 shares, while 18,48,000 shares are reserved for retail investors. Additionally, 2,82,000 shares are reserved for the market maker. Investors can bid for a minimum of 6,000 shares and in multiples of 3,000 shares thereafter. At the upper price band of Rs 46, the minimum investment for retail investors stands at Rs 2,76,000. About the company Accord Transformer & Switchgear, incorporated in 2014, is engaged in the design, engineering, manufacturing and supply of electrical power and distribution equipment. The company caters to sectors such as power transmission and distribution, renewable energy, industrial applications, infrastructure and EV charging networks. Its product portfolio includes distribution transformers up to 2.5 MVA, power transformers up to 20 MVA, dry-type transformers and specialised transformers for solar and wind applications. It also manufactures low-voltage and medium-voltage control panels, vacuum circuit breaker panels and package substations. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Vayona Energy currently operates two manufacturing plans and a portfolio in excess of about 12GW in operational and development assets. View More
The integration of AI and big data is revolutionising the energy sector, allowing for smarter management of intricate challenges. The Comptroller and Auditor General emphasises the need for enhanced operational efficiency and robust financial health within DISCOMs. View More
New Delhi: Comptroller and Auditor General (CAG) K Sanjay Murthy on Monday said with the increasing use of artificial intelligence and big data analytics in the power sector, the capacity to tackle inherent complexities in the sector is getting strengthened. Addressing the National Conference on Power Sector here, the CAG also said it is important for the entire power sector that operational efficiencies and financial sustainability of DISCOMs are enhanced and strengthened through focused and sustained efforts. Since last decade, Murthy said the power sector has achieved a lot as the generation has gone up from 1,168 BU in 2015-16 to 1,824 BU in 2025-26. The sources from which this power is being generated have also undergone major change as the shift to green energy has been increasingly gaining focus which is evident from the rise in its share from 6 per cent to 24 per cent, he said. He also noted that that the transmission network has been augmented by more than 70 per cent and it has achieved a milestone of crossing over 5 lakh circuit km (ckm) of transmission lines. Live Events The Comptroller and Auditor General of India is organising a day-long national conference to facilitate meaningful discussions on recent developments in the power generation, transmission, and distribution sectors. The conference is being attended by Secretary, Ministry of Power; Secretary, Ministry of New & Renewable Energy; Chairperson, Central Electricity Regulatory Commission (CERC), and Chairperson, Central Electricity Authority along with CMDs of NTPC , NHPC , SECI, PFC, Grid-India and PGCIL. Murthy said that on the distribution front, a major improvement is being noticed in village and household electrification. "It is important for the entire power sector that operational efficiencies and financial sustainability of DISCOMs are enhanced and strengthened through focused and sustained efforts," he said. He also said that there are early signs of recovery in the sector with DISCOMs recording a PAT of Rs 2,701 crore in 2024-25. Murthy further said the advancement in technology has played a pivotal role in the ongoing metamorphosis of the power sector. "With the increasing use of Artificial Intelligence and big data analytics in the sector, the capacity to tackle inherent complexities in the sector is getting strengthened," he said. Murthy said the conference is being organsied to bring together concerned stakeholders including ministries, regulators, PSUs leading the sector across central and states, academia and CAG officers. At the end of the conference, a comprehensive audit plan would be presented with an aim at achieving the national vision for power sector as well as towards achieving the shared goal of Viksit Bharat. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)