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SC upholds Himachal's demand for 18% free electricity from JSW Hydro Energy’s Karcham Wangtoo plant

Economic Times

Economic Times · 1m ago

SC upholds Himachal's demand for 18% free electricity from JSW Hydro Energy’s Karcham Wangtoo plant

The Supreme Court of India ruled in favor of Himachal Pradesh's demand for 18% free electricity from JSW Hydro Energy’s Karcham Wangtoo plant, overriding the Himachal Pradesh High Court's 13% cap, underlining the generating company’s contractual obligations. Despite CERC’s 2019 regulations limiting free supply to 13%, the court deemed no prohibition against JSW supplying beyond this. Contractual agreements should be honored, ensuring interpretations don’t breach undertakings implicitly supported by regulations.

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Vedanta gains on plans to move SC on Sterlite copper plant reopening

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Vedanta gains on plans to move SC on Sterlite copper plant reopening

Vedanta plans to file a review petition in the Supreme Court regarding the closure of its Thoothukudi copper smelter plant. The company's shares rose by 0.46% following the news. Vedanta had previously filed a special leave petition against the Madras HC's decision to close the plant, but the Supreme Court dismissed the plea on February 29. The court cited Vedanta's non-compliance with legal obligations as the reason for the decision. The stock price of Vedanta has risen more than 18% in the past six months.

Reliance Power becomes debt free on standalone basis

YourStory

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Reliance Power has become a debt-free company, clearing all outstanding dues to lenders. The company had a debt of about Rs 800 crore, which has now been repaid to banks. Multiple debt settlement agreements were signed with various banks, including IDBI Bank, ICICI Bank, Axis Bank, and DBS between December 2023 and March 2024. Proceeds from the sale of projects, such as a hydro-electric project in Arunachal Pradesh and a wind energy project in Maharashtra, were used to retire the debt. Reliance Power has an operating capacity of 5,900 MW, including the Sasan Ultra Mega Power Project and the Rosa Thermal power plant.

Meta teams with XGS Energy to build a 150 MW geothermal power plant | TechCrunch

TechCrunch · 2m ago

Meta teams with XGS Energy to build a 150 MW geothermal power plant | TechCrunch

Meta is partnering with startup XGS Energy to develop a 150-megawatt geothermal power plant in New Mexico. Although specific details of the agreement remain undisclosed, the partnership aims to advance geothermal energy development in the state. This collaboration is part of a broader trend among tech companies embracing geothermal energy, which offers emissions-free, 24/7 electricity. XGS Energy utilizes a closed-loop system to minimize water loss, enhancing the efficiency of geothermal energy production.

Now, Tesla Mulls Foray Into India’s Rooftop Solar Panel Market

Inc42 · 1y ago

Now, Tesla Mulls Foray Into India’s Rooftop Solar Panel Market

Tesla is reportedly planning to enter India's rooftop solar panel manufacturing market. The company has approached the government with its plans and requested subsidies. Tesla will partner with a selected company to set up the manufacturing plant while bringing its technology and sales expertise. This move aligns with the Indian government's initiative to generate solar energy and provide free electricity to 10 million households. Additionally, Tesla is in advanced talks to establish a battery manufacturing plant and manufacturing Tesla cars in India. The negotiations for the first manufacturing unit are in the final stages. Starlink, Elon Musk's satellite broadband service, is also expected to launch in India soon.

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