Latest news with #COD
Indian Express
05-06-2025
- Automotive
- Indian Express
Show-cause notice to nine registered units over ‘non-payment, underpayment' of scrap value of impounded vehicles
Following multiple complaints from vehicle owners, the transport department has issued show cause notices to at least nine Registered Vehicle Scrapping Facility (RVSF) in the Capital. The complaints range from non-payment or underpayment of scrap value for impounded vehicles to scrap value paid not being in accordance with government guidelines, said officials. Besides, the complaints stated that scrap value of unclaimed vehicles that were impounded had not been paid to the government, they added. These scrapping units were authorised by the transport department during the drive against 'end of life' vehicles (ELVs) or overage vehicles launched in October last year. The engagement of these units with the department has been put on hold for the time being, said officials. Sources said that following the complaints, the Anti-Corruption Branch (ACB) has issued notice to all zones of Municipal Corporation of Delhi (MCD) engaged in the drive besides the transport department. A senior transport department official said, 'The department has been receiving several complaints and grievances on a daily basis regarding non-payment or underpayment of scrap value for impounded vehicles…The complaints allege that the scrap value paid is not in accordance with the official memorandum issued by the Ministry of Steel for (such) vehicles…' The vehicle owners have also accused the RVSFs of not issuing Certificate of Deposit (COD) despite repeated communications, said officials. 'Despite repeated reminders, they did not submit the amounts/scrap value of the unclaimed vehicles to the government's treasury… As per the guidelines for handling ELVs, the RVSFs should submit the scrap value to the government within 15 days without deducting any charge…,' said a senior official from the transport department. Officials said these RVSFs have continuously violated the ELV guidelines and have not submitted data regarding COD and transaction details to the department to date. COD is issued to the owners of ELVs for getting their vehicles scrapped from a registered scrapyard. Last year, the government approved a tax rebate scheme, under which the owners get a discount on purchasing new vehicles after getting their old petrol and diesel vehicles, which have completed 15 years and 10 years, respectively, scrapped from government-authorised units. While the concession amount is 20% for new non-transport petrol/CNG/LPG vehicles and 15% for diesel vehicles, for transport vehicles, it is 15% for petrol/CNG/LPG and 10% for diesel. The tax concessions, though, cannot exceed 50% of the scrap value. The valid period of this certificate, which is electronically tradable, is three years. However, no concessions will be available for government-owned or impounded vehicles. Last year, in a drive launched before Diwali to curb vehicular pollution, the department engaged around 17 RVSFs on a voluntary basis. Delhi Traffic Police and the civic body also participated in the drive. Between October 2024 and February 2025, a total 28,049 ELVs were impounded and handed over to different RVSFs. Notably, petrol vehicles over the age of 15 and diesel vehicles over the age of 10 years have not been allowed to run in the city for the past several years. The department had started de-registering such overaged vehicles in Delhi from January 2022, following directions from the Supreme Court and the National Green Tribunal (NGT). These vehicles can be sold in other states after procuring No-Objection Certificates.
Yahoo
02-06-2025
- Business
- Yahoo
Balanced Rock Power Accelerates a Sustainable Future with Landmark Project Wins
Leading renewable energy developer secures five major deals, exemplifying expertise in large-scale energy storage solutions and building a sustainable future MOAB, Utah, June 02, 2025--(BUSINESS WIRE)--Balanced Rock Power (BRP), a leader in solar and energy storage development dedicated to delivering clean energy across America, is proud to announce significant progress and momentum in its renewable energy projects. A key highlight is BRP's development and sale of the Two Brothers Battery Energy Storage System (BESS) project, marking the sale of BRP's third BESS project sited in Electric Reliability Council of Texas (ERCOT). Alongside the success of the 150MW Two Brothers project, BRP has continued to demonstrate project development excellence with the additional sales of 2,625 MW of Solar and BESS projects located in Arizona, California and Texas in 2024 and 2025. "Our recent project sale closings underscore our proven expertise in large-scale solar and energy storage solutions, positioning us at the forefront of the transition to clean, reliable and affordable energy," said John Knight, CEO of Balanced Rock Power. "With a dedicated team and innovative strategies, we're committed to expanding our portfolio and accelerating the shift toward a more sustainable and resilient energy landscape." BRP's ERCOT investment thesis focuses on targeted load pockets within Houston and South zones, known for persistent congestion and volatility, alongside rising load demands. Beginning in Q1 2022, BRP's dedicated development teams systematically screened hundreds of substations throughout South Texas to identify high-potential nodes and land parcels, setting the foundation for successful project siting. Situated along the Texas Gulf Coast — an area characterized by chronic transmission challenges — Two Brothers was strategically located in a region where traditional fixes fall short in alleviating congestion, thereby safeguarding long-term revenue streams. Despite an interconnection queue saturated with ERCOT BESS projects, Two Brothers garnered investor interest due to its thoughtful siting, long-term economic advantages, and a clear path to project completion — supported by an executed interconnection agreement and long-lead equipment procurement. The project achieved critical milestones, including procurement of HV breakers and GSUs, ensuring it can meet the COD outlined under its signed SGIA. Sold to a private equity-backed storage IPP in Q2 2025, the project underscores BRP's ability to efficiently develop and execute large-scale energy storage solutions. Balanced Rock Power remains committed to expanding its portfolio of clean energy assets, leveraging its development expertise, strategic siting, and innovative transaction strategies to drive sustainable growth and energy transition. To learn more about Balanced Rock Power, visit About Balanced Rock Power Balanced Rock Power is committed to driving the business of clean energy and accelerating a sustainable future. BRP's development activities prioritize large utility-scale solar and battery energy storage assets through greenfield development and accretive acquisitions. Founded by a seasoned team with over 50 years of experience in renewable energy development, BRP develops, invests in, and sells clean energy projects throughout North America. View source version on Contacts info@
Yahoo
27-05-2025
- Business
- Yahoo
Ormat Technologies Announces $62 Million Hybrid Tax Equity Partnership for Two Energy Storage Facilities
RENO, Nev., May 27, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the 'Company' or 'Ormat'), a leading geothermal and renewable energy company, today announced the signing of a $62 million Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. The partnership's transaction covers the Lower Rio 60MW/120MWh storage facility and the Arrowleaf 35MW/140MWh storage and 42MW solar projects, which are expected to achieve COD by the end of 2025. 'This Hybrid Tax Equity partnership is the first of its kind for our Energy Storage portfolio and highlights the innovative efforts we are taking to optimize the projects' economics and the Company's profitability to ensure that we have the funding we need to support our long-term growth, while simultaneously helping advance our explicit goal of monetizing $160 million of tax benefits this year,' said Doron Blachar, Chief Executive Officer of Ormat Technologies. 'By continuing to effectively monetize the benefits of ITCs for our growing Energy Storage project portfolio through 2026, we are strengthening our ability to further invest in our development pipeline and ensure that we remain well-positioned to support the growing demand for energy storage projects.' Ormat was represented in the transaction by Sheppard Mullin Richter & Hampton, LLP and Morgan Stanley Renewables Inc. was represented in the transaction by Willkie Farr & Gallagher LLP. ABOUT ORMAT TECHNOLOGIES With six decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation ('REG'), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company's activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat's current total generating portfolio is 1,538MW with a 1,248MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 290MW energy storage portfolio that is located in the U.S. ORMAT'S SAFE HARBOR STATEMENT Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, market and industry developments and the growth of our business and operations, are forward-looking statements. When used in this press release, the words 'may', 'will', 'could', 'should', 'expects', 'plans', 'anticipates', 'believes', 'estimates', 'predicts', 'projects', 'potential', or 'contemplate' or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat's plans, objectives and expectations for future operations and are based upon its management's current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under "Risk Factors" as described in Ormat's annual report on Form 10-K filed with the Securities and Exchange Commission ('SEC') on February 27, 2025, and in Ormat's subsequent quarterly reports on Form 10-Q that are filed from time to time with the SEC. These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Ormat Technologies Contact:Smadar LaviVP Head of IR and ESG Planning & Reporting 775-356-9029 (ext. 65726)slavi@ Investor Relations Agency Contact:Joseph Caminiti or Josh CarrollAlpha IR Group312-445-2870ORA@ in to access your portfolio
Associated Press
27-05-2025
- Business
- Associated Press
Ormat Technologies Announces $62 Million Hybrid Tax Equity Partnership for Two Energy Storage Facilities
RENO, Nev., May 27, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the 'Company' or 'Ormat'), a leading geothermal and renewable energy company, today announced the signing of a $62 million Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. The partnership's transaction covers the Lower Rio 60MW/120MWh storage facility and the Arrowleaf 35MW/140MWh storage and 42MW solar projects, which are expected to achieve COD by the end of 2025. 'This Hybrid Tax Equity partnership is the first of its kind for our Energy Storage portfolio and highlights the innovative efforts we are taking to optimize the projects' economics and the Company's profitability to ensure that we have the funding we need to support our long-term growth, while simultaneously helping advance our explicit goal of monetizing $160 million of tax benefits this year,' said Doron Blachar, Chief Executive Officer of Ormat Technologies. 'By continuing to effectively monetize the benefits of ITCs for our growing Energy Storage project portfolio through 2026, we are strengthening our ability to further invest in our development pipeline and ensure that we remain well-positioned to support the growing demand for energy storage projects.' Ormat was represented in the transaction by Sheppard Mullin Richter & Hampton, LLP and Morgan Stanley Renewables Inc. was represented in the transaction by Willkie Farr & Gallagher LLP. ABOUT ORMAT TECHNOLOGIES With six decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation ('REG'), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company's activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat's current total generating portfolio is 1,538MW with a 1,248MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 290MW energy storage portfolio that is located in the U.S. ORMAT'S SAFE HARBOR STATEMENT Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, market and industry developments and the growth of our business and operations, are forward-looking statements. When used in this press release, the words 'may', 'will', 'could', 'should', 'expects', 'plans', 'anticipates', 'believes', 'estimates', 'predicts', 'projects', 'potential', or 'contemplate' or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat's plans, objectives and expectations for future operations and are based upon its management's current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under 'Risk Factors' as described in Ormat's annual report on Form 10-K filed with the Securities and Exchange Commission ('SEC') on February 27, 2025, and in Ormat's subsequent quarterly reports on Form 10-Q that are filed from time to time with the SEC. These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
The Hindu
24-05-2025
- General
- The Hindu
The English conundrum
'Good morning.' No response. The teacher in me was piqued. When will they learn the English etiquette? 'Good morning' is a simple greeting. But 'goodnight' is not so simple. It cannot be used just because it is night time, but only when parting at night or before going to sleep. I have taught English for several years, not just the language and its literature, but also its ethos and etiquette. I admit English is a complicated language, what with its irrational spelling, its idiosyncratic accent, its homophones and homonyms and more. No wonder, Bertrand Russell famously said that 'fish' can be written as 'ghoti' and still pronounced 'fish'! (For 'gh' in words like rough and laugh has the sound of 'f' ; the 'o' in women has the sound of 'i', and the 'ti' in nation and ration has the sound of 'sh'.) When it comes to the English accent, it is even more confusing. For example, the first syllable is accented in 'photograph', the second syllable in 'photographer', and the third in 'photographic'. Aiyyo! (the latest COD has included the word). Confusion confounded. Then there are the homophones, words that have different meanings and spellings, but have the same sound. A lady who had no children went to a doctor about an imaginary ailment. After the examination the doctor said, 'Ma'am, what you need is just sun and air.' The lady replied, 'Unfortunately I don't have both. 'She meant 'son' and 'heir''. Homonyms are words spelt and pronounced alike, but mean different things according to the context in which they are used — for instance, words such as 'bill', 'bowl', and 'hand'. People of different races and regions have different accents when they speak English. Donald Trump's nasal twang has reverberated throughout the world causing a market meltdown. Shashi Tharoor's clipped British accent has baffled even the native speakers, not to mention his sophisticated use of vocabulary. Even he is flummoxed by Gen Z's vocabulary that includes 'fomo' or 'ootd' (fear of missing out and outfit of the day). Mr. Tharoor says that the British have not only looted our country's wealth but also have looted from our language. Many of the English words like catamaran, bungalow, and bandana are derivatives from Indian languages. English literature is what I enjoy best. As a 17 year old, I used to be lost in wonder as Professor Rao quoted with ease the lines from Macbeth. He used to strut across the classroom keeping me spellbound by the magic of Shakespeare's iambic pentameter. His kinesthetic style of teaching was copied by me later. For greater effect, I would put on and take off my reading glasses attached to a chain around my neck, at frequent intervals. The great litterateur and poet Aiyyappa Paniker taught me the different English meters. He was a young professor at that time and initiated me to poetic appreciation. I danced with the daffodils and flew with the west wind. I learned alliteration from Keats' 'beaded bubbles winking at the brim' and onomatopoeia that mimics the sound it describes. I enjoyed reading the classics — Dickens and Hardy, the Bronte sisters and Jane Austen, all of them. I came upon Rushdie's magic realism much later. The reading habit has helped me in my retirement. I am an octogenarian who still enjoys turning the pages of a book. As for the accent, I will stick to my Malayalam accent which can switch a statement into a question by just raising my voice with the ending word! 'Simply' wonderful!
