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The power sector in India is set to require a massive investment of Rs 6.4 lakh crore until FY35, according to a report by Moody’s. The report also stated that the power sector will need 2% of real GDP annually over the next 10 years.
NHPC Limited, a Navratna enterprise of the Government of India, has been certified as a “Great Place to Work” by Great Place to Work India. This certification is a benchmark for workplace culture excellence.
The Ministry of Power has mandated that all renewable energy implementing agencies and state utilities must incorporate a minimum of two-hour co-located energy storage systems (ESS) in future solar tenders. This is expected to cut power costs for businesses and reduce grid stress.
Vikram Solar has expanded its manufacturing capacity to 4.5 GW with the addition of 1 GW. The company has also secured a 362.5 MW solar module order from Khaba Renewable Energy, a subsidiary of Engie India.
Tata Power has partnered with Amazon Web Services to drive smart and consumer-centric energy transition in India through the modernization of its digital infrastructure and energy management.
Bharat Petroleum Corporation Limited (BPCL) has pledged Rs 5 crores for bioethanol research and development. The company has also secured a Gold Award for its outstanding achievements in human capital management.
India’s oil demand is expected to remain robust, with a growth rate not expected to dip below 3% for at least the next decade, according to Arun Kumar Singh, Chairman and Managing Director of Oil and Natural Gas Corporation (ONGC).
The report also mentioned that Coal India Limited has signed a memorandum of understanding with Narayana Health Limited Group of Hospitals to extend cardiac services to the beneficiaries of Coal India, both on-roll and retired.
Additionally, Petronet LNG has expanded its capacity and invested in petrochemicals, while Gujarat is poised to become the “national hub” of green hydrogen production. ONGC is targeting a 60% increase in production from Mumbai High through a strategic partnership with BP.
These are some of the key news and updates from the energy sector in India, highlighting the country’s efforts to transition to a more sustainable and clean energy future.