POWER PLANT
Tata Power says no provision needed for $650 million Kleros Award
Tata Power Company is currently not planning any financial provisions despite an adverse ruling from a Singapore court. The company believes they have a strong appeal against Kleros Capital Partners, who were awarded over $650 million. In the most recent quarter, Tata Power reported an all-time high consolidated net profit of ₹1,652 crore. Additionally, Tata Power's board has appointed Sanjay Banga as CEO-designate for the upcoming five years.
Tata Electronics in talks to raise $2 billion for expansion
The first tranche is likely to be up to $800 million, with initial pricing discussions around SOFR plus 180 basis points. The talks are at an early stage, with the final size, pricing and lender participation yet to be firmed up. The loan could be priced at around 6%, assuming SOFR remains at around 3.9%.
Tata Power Q2 Results: PAT jumps 33% YoY to Rs 1,652 crore, revenue rises 26%
Tata Power reported its highest-ever quarterly profit of Rs 1,652 crore in Q2 FY27, up 33% year-on-year. Revenue surged 26% to Rs 19,886 crore, supported by renewables, generation, distribution and a record Rs 10,000 crore first-half investment.
Saudi Arabia, Turkey sign deal to build 3,000 MW of wind power capacity
Saudi Arabia and Turkey have signed an agreement to develop 3,000 MW of wind power capacity in Turkey, taking the total planned capacity under their energy partnership to 5,000 MW. The latest pact builds on a February agreement for 2,000 MW of solar projects, as Ankara expands renewable energy investments.
World leaders begin talks as COP31 faces pressure to turn climate promises into action amid rising global warming
World leaders are gathering in Turkey for the UN climate conference COP31 amid mounting pressure to translate climate commitments into concrete action. The summit comes after a year of deadly climate-related disasters, stalled progress on fossil fuel reductions and growing concerns that global warming will exceed the 1.5°C threshold set under the Paris Agreement. Rising energy prices linked to the Iran war and the absence of the US delegation add to the challenges facing negotiations.
Recent Ukrainian attacks have reduced Russia's oil processing capacity by 30%, sources say
Ukraine's attacks on Russian oil refineries add to Moscow's difficulties in addressing domestic fuel shortages as it ships diesel to international markets under an export deal with US President Donald Trump.
Researchers tested tobacco plants engineered to emit isoprene; after 10 days, hornworms feeding on those leaves were smaller than those on ordinary plants
Research conducted at Michigan State University revealed that isoprene emissions from plants deter pest herbiory effectively. This chemical causes plants to release hormones that make their leaves less digestible for insects. Interestingly, soybean plants possess genes allowing them to produce isoprene when damaged, enhancing their resilience. However, the increase of isoprene in the atmosphere poses a risk for air quality due to ground-level ozone formation.
Another billion-dollar IPO: After Jio and NSE, what should investors know about Mahanadi Coalfields?
Mahanadi Coalfields is gearing up for a potential $1 billion IPO that could value Coal India's subsidiary at up to $10 billion. With Sebi clearance secured and investor meetings underway, the offering could be among India's biggest public issues. Here's what investors should know about the company's operations, financial performance, IPO structure, key customers and growth prospects.
Quantum could solve AI energy drain, says tech founder
Quantum computers could curb the vast energy demands of artificial intelligence data centres with their ability to run complex calculations, one of the tech's pioneers told AFP. Australian startup Diraq is conducting the first field test worldwide putting a small quantum computer based on a silicon chip in a commercial data centre in Sydney. Diraq's computer installed in Equinix's Sydney data centre has eight quantum bits, or qubits, on a silicon chip.
Norway reins in data centre industry amid AI boom
Norway produces more power than it consumes and is a net exporter, but recent projections show that demand from new data centres could lead to an energy deficit and rising electricity prices in the coming years.
Balrampur Chini's Rs 3,100-cr bio-plastic plant to start commercial operations in Jan-Mar: CMD
Balrampur Chini Mills plans to start commercial production at its Rs 3,100-crore bio-plastic plant next quarter. The company has invested around Rs 2,400 crore in the project so far, with expectations for significant future revenue. This plant will produce Poly Lactic Acid bioplastics from renewable resources such as sugarcane and corn starch. In addition, the company reported a 90 percent increase in net profit in the last quarter.
If AI unwinding pulls power stocks down, mind the difference between narrative and business: 6 stocks with upside potential of up to 30%
It is quite possible that, over the coming weeks, the narrative on the street could be that power stocks, which many had started to treat as a kind of proxy for the AI build-out, would come under pressure. But linking these stocks to global unwinding in the AI trade could be a mistake because demand for power in India depends on something far bigger and far older.
World War III alert? Why Iran is distributing 180,000 iodine tablets as Trump weighs fresh strikes on nuclear sites?
Iran has started distributing iodine tablets to residents of Bushehr to prepare for potential nuclear emergencies. This distribution, which prioritizes areas near the nuclear power plant, includes 180,000 total tablets. The World Health Organisation recommends these tablets to protect against radioactive iodine exposure. Authorities emphasize the importance of child and pregnant women protection during these emergencies. Tensions with the US continue, prompting increased emergency preparedness activities in the region.
West Bengal may get 1 lakh crore investments in a few months: Suvendu Adhikari
Suvendu Adhikari said the BJP-led government would offer incentives starting May 9, but would be unable to clear the industrial incentives backlog of nearly Rs 50,000 crore owing to the state's debt burden of Rs 8 lakh crore. He promised to clear the backlog once West Bengal becomes a financially stronger state like Gujarat, Maharashtra and Tamil Nadu in the next two years.
Big tech, green groups in talks over data center guardrails
The "Responsible Data Center Collaborative" counts Google, Meta, Microsoft, Oracle, Amazon, Nvidia and Anthropic among its members, alongside environmental stalwarts the Natural Resources Defense Council (NRDC), World Wildlife Fund (WWF) and Sierra Club.
CAQM takes serious view of spurt in farm fires in Punjab
The Commission for Air Quality Management held a meeting regarding the high incidence of farm fires in Punjab. Recent data indicated a significant increase in stubble burning cases across various districts. The Commission emphasized the need for stricter monitoring and accountability among local authorities. Community leaders will also be involved to enhance prevention efforts against farm fires.
Death toll hits 31 after Russian strike on Ukrainian aid site, with dozens still missing
A devastating Russian strike on a humanitarian aid gathering in Komyushuvakha has resulted in a tragic death toll of 31, with many residents still unaccounted for, prompting relentless search operations by rescuers and volunteers. Additionally, multiple overnight assaults targeted power facilities, causing extensive destruction and widespread electricity outages throughout Ukraine.
Coal India shares jump 4% after firm records highest-ever monthly coal supplies in October
Coal India shares jumped more than 4% after the state-run miner reported record monthly coal production and supplies in October. Total supplies crossed 70 million tonnes for the first time, while deliveries to the power sector reached an all-time high of 57.1 million tonnes.
India's October coal-fired power output jumps most in 3 years as hydro generation slumps
India experienced a surge in coal-fired electricity generation of 25.7% in October compared to the previous year. The increase was attributed to a substantial decline in hydropower generation by 26% caused by lower rainfall. Power demand from industrial activity contributed to the rise in coal usage across the country. During October, renewable power generation also increased by 34.7%, primarily from solar energy. Overall electricity generation grew by 21.
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