Latest news with #Greenko
Time of India
7 days ago
- Business
- Time of India
Pvt firm manager accused of siphoning off over Rs 2 cr company funds
Hyderabad: A senior manager of DigiTele Networks Pvt Ltd, an IT and drone services provider associated with Greenko Group, has been accused of siphoning off more than Rs 2 crore by routing projects through two private companies he secretly controlled. A case has been registered by the Central Crime Station (CCS) following a complaint by the company. In his complaint, the company's authorised signatory, Venkata Thota accused Madan V Golagabathula of conspiring with select Greenko officials and outside clients to defraud the company. Madan had joined DigiTele in Dec 2014 and handled business development, billing, and recruitment. "Madan secretly incorporated 9th Pixel Geosoft (OPC), exercising full control over its operations and finances. As part of his conspiracy, he also brought in another entity, Atree Solutions, owned by Chandra Murali. By misleading Greenko officials and misrepresenting 9th Pixel and Atree Solutions as associates of DigiTele, Madan secured contracts for these entities while utilising DigiTele and Greenko's employees and resources to execute the work. Invoices were raised in the names of his personal companies while payments were misappropriated, resulting in significant financial losses to DigiTele and Greenko," the complainant alleged. Between April 2022 and Jan 2025, 9th Pixel booked revenue of about Rs 2 crore, while Atree Solutions earned nearly Rs 28 lakh from Sept 2023 to June 2024, as per the complaint. "Both firms had no staff or equipment. DigiTele and Greenko employees executed the work while invoices were raised at inflated rates," the complaint reads. Investigators uncovered alleged kickbacks worth Rs 48 lakh paid to 10 DigiTele and Greenko employees to suppress the irregularities. A further 50 recruits were placed on DigiTele rolls without approval, the complainant said. Based on the complaint, CCS registered a case against Madan, Chandra Murali and others under sections 316(4) (criminal breach of trust by clerk or servant), 318(4) (cheating and dishonestly inducing delivery of property), 336(3) (forgery for purpose of cheating), and 340(2) (using as genuine a forged document or electronic record) read with 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS).
Time of India
07-06-2025
- Business
- Time of India
Telangana targets 20,000 MW green power by 2030: Bhatti
Hyderabad: Deputy chief minister Bhatti Vikramarka on Saturday said the state is charting an ambitious course towards a green energy future, with a goal of generating 20,000 MW of renewable power by 2030. The govt has already signed MoUs worth ₹1 lakh crore with various companies to support green power initiatives. Speaking to the media after visiting Greenko's integrated renewable energy project in Pinnapuram village of Orvakal mandal in Kurnool district, the deputy CM said the Telangana govt recently introduced the new Energy Policy 2025 to achieve the 20,000 MW target by 2029–30. "With rising power demand across India, Telangana is proactively working to boost power generation and achieve a surplus. Electricity is the backbone of every product and sector. When production increases, it creates jobs and drives GDP growth—it's a continuous cycle," he said. Vikramarka stressed the growing need for sustainable alternatives, pointing out that dependence on coal not only increases production costs but also worsens pollution. "The world is transitioning rapidly to green energy. Telangana is aligning with this global shift," he added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo He highlighted the innovative use of pumped hydro storage to address peak hour demands. Solar energy produced during the day is stored and then used at night, making the energy cycle efficient and reliable. At the invitation of Greenko's management, the deputy CM visited their project site, which integrates solar, wind, and a 1,680 MW pumped hydro storage system—with a storage cycle of four hours, twice daily. The project also exports power internationally. Principal secretary (energy) Sandeep Kumar Sultania, CMDs of Transco and Genco, Krishna Bhaskar and S Harish, and other senior officials and engineers were present during the visit.
The Hindu
07-06-2025
- Business
- The Hindu
Telangana to generate 20,000 MW of green power by 2030: Bhatti
Deputy Chief Minister Bhatti Vikramarka stated that the Telangana government has plans to generate 20,000 MW of green power by 2029 - 30. Speaking to the media on Saturday after visiting the Greenko Integrated Power Project in Pinnapuram village, Orvakal Mandal, Kurnool district, he said that MoUs worth ₹1 lakh crore have already been signed for green power generation in Telangana. This was part of the 2025 New Energy Policy, aiming to achieve 20,000 MW of green power by 2029–30. He pointed out that electricity consumption is rising across India, and if power is generated solely through coal, it increases costs and pollution, impacting the environment. However, Telangana government is exploring various avenues to enhance power generation and move toward surplus electricity. 'If production increases, employment and the State's GDP will grow. It's a continuous cycle,' he said. The Deputy CM said he visited Greenko project to observe the green power production at their integrated project, which also exports electricity to other countries. He praised Greenko Power for starting electricity production on schedule and noted that the company was producing electricity from solar, wind, and pumped storage at a single location spread across 4,000 acres, the first of its kind in the world. The production includes 4,000 MW through solar, 1,000 MW through wind, 1,680 MW through pumped storage totalling 6,680 MW of green power from a single site. As part of his visit, he inspected key infrastructure, including the upper and lower reservoirs of the closed-loop pumped storage system, the powerhouse complex, and the advanced substation.
Time of India
27-05-2025
- Business
- Time of India
Andhra Pradesh plans green energy corridor worth ₹28,400 cr
New Delhi: Eyeing major expansion in the renewable energy sector, Andhra Pradesh chief minister N Chandrababu Naidu has proposed a ₹28,436-crore green energy corridor to connect renewable energy power project to the central grid. As Andhra Pradesh gears up for its ambitious target of producing 72 GW of green energy by 2029, Naidu has come up with a plan of a green energy corridor, which will include building transmission network and central substations. According to sources, the green energy corridor will facilitate the evacuation of 11,000 MW of power from renewable energy projects and 7,000 MW from pumped storage projects and would contribute to India's renewable energy capacity addition targets. Andhra Pradesh is facing twin challenges-the first is renewable energy generation potential and pumped storage schemes are concentrated in the Rayalaseema region and need massive transmission networks to evacuate the power while the load growth is primarily in the coastal areas where green hydrogen hubs ( NTPC 's Green Hydrogen Hub project and Greenko project), data centres and major industries are coming up. The second challenge is that major developers who had been allotted renewable energy sites in the previous regimes are yet to start work and have been squatting on land near substations. The state is unable to add fresh capacity as these projects have not yet taken off the ground. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Now, the state government has proposed an extra high tension transmission network to integrate these energy resources and transmit power to the coastal load centres.
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Business Standard
26-05-2025
- Business
- Business Standard
AM Green, Rotterdam Port partner for $1 bn India-Europe green fuel corridor
AM Green, backed by the founders of Greenko, has signed a pact with the Port of Rotterdam Authority to build a green energy supply chain between India and Northwestern Europe. The partnership would enable annual trade of 1 million tonnes of green fuels worth up to $1 billion, linking India's emerging green hydrogen clusters with Europe's largest energy port of Rotterdam. In a statement, the firm said it has signed a memorandum of understanding for "building a green energy supply chain between India and Northwestern Europe via Rotterdam, Europe's first energy port and a key hydrogen carrier's entry point". This includes the supply of bunkering fuels and Sustainable Aviation Fuels (SAFs) and analysing requirements for the development of terminal infrastructure in Rotterdam and along the supply chain to Northwestern Europe. The partnership will jointly support the development of strategic port infrastructure for safe distribution of hydrogen-based fuels and products, and link India's net zero industrial clusters to Europe, enabling exports of up to 1 million tonnes annually. "AM Green is pushing its ambitious goal to develop 5,000,000 tonnes of Green Ammonia production capacity by 2030, equivalent to about 1,000,000 tonnes of Green Hydrogen to meet the rising global demand for green fuels, with initial production starting in Kakinada," it said. On the other hand, the Port of Rotterdam plays a leading role as a critical logistics and hydrogen hub for the European continent, with some 13 per cent of the total energy demand in Europe entering via Rotterdam. Together, they aim to fulfil India's National Green Hydrogen Mission and Europe's ambitious decarbonisation goals. Boudewijn Siemons, CEO of the Port of Rotterdam Authority, said with India's vast potential for green hydrogen production, combined with Rotterdam's strategic location and advanced infrastructure, the collaboration will lead to a robust and sustainable green energy supply chain between the two regions. Anil Chalamalasetty, founder of AM Green and Greenko Group, said, "This partnership is part of our ambitious global growth strategy in green fuels, including 5 million tonnes per annum of green ammonia and 1 million tonnes per annum of SAF. This collaboration marks a significant milestone in establishing a global carbon-free energy ecosystem. It will enable the seamless movement of green molecules and fuels from India to Europe, reinforcing AM Green's position as a global clean energy transition platform and accelerating industrial decarbonisation globally." AM Green is set to begin production at its green ammonia facility in Kakinada, Andhra Pradesh, in the second half of 2026. The project - estimated to cost around Rs 12,500 crore - includes a green hydrogen unit and an ammonia conversion plant, both housed within a repurposed urea facility acquired earlier this year. Phase-1 production of 1 million tonnes of green ammonia at the Kakinada plant is primarily targeting export markets in Europe. AM Green has already signed offtake agreements with major buyers, including Uniper, Yara, and Keppel, supporting a range of green hydrogen applications. In January, the company joined forces with global logistics giant DP World to develop advanced storage and export infrastructure in India and overseas, strengthening its drive to expand into international green fuel markets.
