Latest news with #PPA
Business Upturn
8 hours ago
- Business
- Business Upturn
ACME Solar signs PPA with NHPC for 250 MW project in Rajasthan
By Aditya Bhagchandani Published on June 20, 2025, 14:58 IST ACME Solar Holdings Limited has signed a significant Power Purchase Agreement (PPA) with NHPC Limited for a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan. The agreement spans 25 years and has been secured at a tariff of ₹4.56 per kWh, with a minimum annual Capacity Utilization Factor (CUF) of 40% and a commitment to meet 90% of peak power demand for 4 hours each day. The project is designed to leverage a hybrid energy mix comprising solar, wind, and battery storage, and will be connected to an ISTS substation with existing connectivity. This development reinforces ACME Solar's strategic role in India's clean energy transition. With this addition, ACME Solar's PPA-signed capacity now stands at 5,130 MW, of which 2,826.2 MW is operational. The company also has a confirmed project pipeline of 1,840 MW for which Letters of Award have been received. Notably, 86% of its offtake agreements are with central government entities. The project has already received regulatory clearance from the Central Electricity Regulatory Commission (CERC), enhancing its implementation timeline certainty. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Recorder
16 hours ago
- Business
- Business Recorder
PPA opposes ‘draconian powers' to tax officials
ISLAMABAD: Pakistan Poultry Association (PPA) has expressed serious concern that tax authorities are being given dangerous and draconian powers which may be misused to harass the formal tax paying sector. According to a communication of PPA to top policy makers and budget makers on Thursday, Finance Bill 2025-26 proposed to grant to the Federal Board of Revenue (FBR) officers dangerous and excessive powers: (i) Section 11E enables tax assessment and recovery based on suspicion without proper investigation. (ii) Section 14AE allows arbitrary seizure of business premises and property without adequate safeguards. (iii) Section 32B empowers private auditors with quasi-legal authority over businesses. (iv) Section 33 introduces 10-year prison terms and Rs10 million fines for broadly defined 'tax fraud' that business errors are likely to be classified. (v) Section 37AA authorizes arrest without warrant based on mere suspicion of tax fraud- a power that invites abuse and harassment. (vi) Section 37B permits 14-day detention of businesspersons, extendable through magistrates. (vii) Overriding the principle of client/advisor relationship, Section 58C will grant the FBR access to the offices of tax advisers and firms where discrepancies in returns are suspected. Even criminals are given ample opportunity to be heard and no criminal is arrested without warrant. The Federation must not just make verbal criticism; they should call the formal sector, which contributes more than 60% to the GDP, to close down their offices until the proposed powers are undertaken/set aside/withdrawn, PPA added. Copyright Business Recorder, 2025
Daily Mail
18 hours ago
- Entertainment
- Daily Mail
Pickleball star slams his paddle as he descends into shocking meltdown... only to suffer ultimate humiliation
The only thing more humiliating than an on-court meltdown, is failing to execute the crashout - as one pickleball player discovered this week. Zane Ford, a pickleballer on the Carvana PPA Tour, exploded after a brutal blow during the Select Medical Orange County Cup in California on Wednesday. The 20-year-old lost match point on a wayward volley back to opponent James Ignatowich that he fired left of the line. The misfire, which sealed his defeat in the Round of 32, triggered an explosive reaction from the world No 14. Ford, who turned pro in 2023, immediately let out a frustrated cry before repeatedly launching his paddle to the ground. Despite repeatedly slamming the paddle on the Humana Championship Court, humiliatingly it refused to crack, forcing Ford to resort to using his knee. A crash out worthy of Humana Championship Court 😳 @jignatowichpb with a clutch win that had Zane Ford very upset 😬 — Carvana PPA Tour (@PPAtour) June 18, 2025 He tried hitting it on his knee but it still weathered his attacks, merely bending a little bit. Ford, a Pennsylvania native, later took to social media to apologize for his actions before attempting to justify his unsportsmanlike behavior. 'First of all, I'm sorry for damaging such a beautiful paddle,' Ford said in a video shared to Instagram. 'At the end of the day, I'm here to win. I put my whole life into this, and I wanna be the best player in the world, so my emotions got the better of me that day. I'm working on it and trying to get to a better spot with that. 'I'm here to win. This is my life. This is what I do to make a living. This is all I ever really think about. Of course I'm going to get upset when I lose the first game 11-0 and then lose 1 and 4.' In a second video, Ford claimed that his outburst actually helped to grow the sport after a clip of his meltdown went viral.
CBS News
a day ago
- Automotive
- CBS News
PPA to begin ticketing drivers who park or stop in Philadelphia bike lanes
You remember the title of the bill,"Get Out the Bike Lane"? Now is the time. The Philadelphia Parking Authority can begin today ticketing anyone who is parking, stopping or even just standing in a bike lane. After a two-week warning period, formal enforcement began Thursday, June 19 — meaning real tickets can be issued. The bill increased the fines for bike violations to $125 in Center City and $75 in other parts of the city. In addition, new loading zones were added and "no parking" zones were changed to "no stopping anytime" zones — and signs reflecting the change have been added along Spruce and Pine streets. The law couldn't be fully enforced until those signs were installed. Removing the "no parking" signs removes a 20-minute grace period for drivers, meaning violators can get ticketed right away for blocking the bike lane. Some Center City residential associations had been critical of the changes, with homeowners and renters who drive saying the changes would make it more difficult to drop off groceries at home or park temporarily. Advocates for cyclists, meanwhile, said something needed to be done — too many vehicles were blocking bike lanes, especially on the major biking routes of Pine and Spruce, and making things more dangerous. "The City and PPA worked together to roll out new No Stopping Anytime regulation signs on the Spruce and Pine corridor concurrently with the addition of new loading zones," Mike Carroll, Philadelphia's deputy managing director for transportation and infrastructure, said in a news release. "This addresses the need for resident motorists, ride hailing services, and delivery vehicles to make short-term pick-ups and drop-offs, which formerly may have taken place in the designated bike lanes. We feel this balances long standing concerns over safety while doing our best to accommodate loading activity," Carroll continued. Maps of the new loading zones are available on the city's website here. The next phase of the project includes curb-separated bike lane infrastructure and other safety measures funded in Mayor Cherelle Parker's 2026 budget. City Council President Kenyatta Johnson introduced the "Get Out the Bike Lane" bill.
Yahoo
2 days ago
- Business
- Yahoo
Ormat Announces the Completion of Its Acquisition of the Blue Mountain Geothermal Power Plant From Cyrq Energy
ACQUISITION INCREASES ORMAT'S ELECTRICTY SEGMENT GENERATING PORTFOLIO TO 1,268MW POTENTIAL TO UNLOCK ADDITIONAL VALUE THROUGH EXPECTED PPA RENEWAL AND ASSET UPGRADES RENO, Nev., June 18, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), (the 'Company' or 'Ormat'), a leading geothermal and renewable energy company, announced today that it has closed its previously disclosed acquisition of the Blue Mountain geothermal power plant from Cyrq Energy. Under the agreement, Ormat paid $88 million for 100% of the equity interest in the 20MW power plant. The Blue Mountain geothermal power plant is located in Nevada and was originally built with Ormat technology. The 20mw geothermal plant currently delivers power under a PPA with NV Energy ('NVE'), which is set to expire at the end of 2029. As part of the Company's generation capacity growth strategy, Ormat plans to upgrade the power plant and increase its capacity by approximately 3.5MW. Ormat's strategic expansion plans also include the proposed addition of a 13MW solar facility to support the power plant's auxiliaries, pending permit and PPA approval. The overall transaction was funded through bank debt. Doron Blachar, Chief Executive Officer of Ormat Technologies, said, 'The acquisition of the Blue Mountain geothermal power plant enhances our portfolio and reinforces our commitment to sustainable base-load energy solutions. This acquisition not only immediately increases our generating capacity but also provides the potential for a significant upside in revenue generation through our planned upgrades and the potential addition of a solar facility. We are excited about the opportunities this acquisition brings, and we look forward to continuing our partnership with NV Energy as we deliver reliable and clean energy to the people of Nevada.' 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 1,558MW with a 1,268MW 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@
