Energy

Adani Green Energy has secured a 20-year power purchase agreement with Sri Lanka for two wind power stations, marking a significant step in the island nation's efforts to boost renewable energy and reduce reliance on imported fuels. This project comes amidst a crippling power shortage faced by Sri Lanka, highlighting the importance of renewable energy in mitigating future economic crises.

An official report from the Ministry of Statistics and Programme Implementation in India revealed that out of 1,873 infrastructure projects worth Rs 150 crore and above, 449 projects have experienced a cost overrun of over Rs 5.01 trillion by March 2024. Delays in project completion were attributed to factors such as state-wise lockdowns due to Covid-19, delays in land acquisition, obtaining clearances, and lack of infrastructure support.

Adani Enterprises, the flagship firm of the Gautam Adani-led group, intends to invest Rs 80,000 crore in various sectors throughout the current financial year, with a major focus on new energy businesses and airports. The company aims to allocate a significant portion of the capital expenditure towards Adani New Industries Ltd (ANIL) for solar modules and green hydrogen production, while also investing in roads, PVC projects, and data cen...

State-owned fuel retailers Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd have collectively reported record profits of about Rs 81,000 crore in FY24, exceeding their earnings from pre-oil crisis years. These companies resisted changing fuel prices daily due to volatile market conditions, leading to financial gains but also losses during the past few years.

The Indian government has taken proactive measures to ensure sufficient power supply during the upcoming summer months, aiming to meet the estimated peak demand of 235 GW in May and 240 GW in June. These measures include optimizing hydropower generation, directing gas-based and coal-based power plants to operate at full capacity, shifting planned maintenance, and minimizing partial and forced outages of thermal power plants.