Latest news with #PowerPurchase
RTÉ News
09-06-2025
- Business
- RTÉ News
Flogas to power main stage at Electric Picnic with renewable energy
Flogas has announced its partnership with Electric Picnic, becoming the festival's official energy partner. The collaboration will see Flogas, part of DCC plc, power the Electric Picnic main stage with renewable electricity via the electricity grid, reducing the event's carbon footprint and showcasing best practices for sustainable event management. At the centre of the partnership is a Corporate Power Purchase agreement (CPPA) between Flogas and Highfield Energy's Jaroma wind farm in Co Tipperary. Ensuring the grid supplied electricity powering the main stage is sourced from Irish renewable wind energy, any balance of consumption not powered by this CPPA is backed by GOs (Guarantee of Origin). Flogas said this not only guarantees a cleaner, greener festival experience but also reflects both organisations' long-term commitment to environmental leadership. "This partnership with Electric Picnic is a proud moment for Flogas," said John Rooney, Managing Director of Flogas. "We're delighted to be powering the main stage with renewable electricity, helping to significantly cut the festival's carbon emissions. "It's a fantastic opportunity to demonstrate how local, renewable energy can deliver at scale and support a more sustainable future for everyone." Melvin Benn, Festival Director of Electric Picnic said, "We're delighted to welcome Flogas as the Official Energy Partner of Electric Picnic. Flogas's expertise and leadership in renewable energy make them the perfect partner as we continue to reduce the festival's environmental impact."
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Business Standard
06-06-2025
- Business
- Business Standard
Rama Steel jumps 13% on renewable energy foray; stock up 25% in 3 days
Shares of Rama Steel Tubes soared nearly 13 per cent on Friday's intraday session after the company entered the renewable energy sector through a joint venture partnership in a 225 megawatt (Mw) solar power project. Steel tube manufacturer's stock rose as much as 12.8 per cent during the day to ₹14.9 per share, a day after the stock jumped 18 per cent. The stock pared gains to trade 8.4 per cent higher at ₹14.3 apiece, compared to a 0.13 per cent advance in Nifty 50 as of 9:34 AM. The company's shares extended their rally for a third straight session, gaining 25 per cent over the past three trading days. The counter has risen 19.3 per cent this year, compared to a 4.5 per cent advance in the benchmark Nifty 50. Rama Steel Tubes has a total market capitalisation of ₹2,203.9 crore. Track LIVE Market Updates Here Rama Steel's strategic foray into renewable energy Rama Steel announced a strategic investment in the renewable energy sector through a joint venture partnership in a 225 Mw solar power project under the Government of India's Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM) scheme. The project is being implemented through Onix IPP, a Special Purpose Vehicle (SPV), and spans multiple locations in Maharashtra. Power Purchase Agreements (PPAs) have been signed with the Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a fixed tariff of ₹3.04 per unit for 25 years. The SPV is projected to generate gross annual revenue of ₹1,081.13 million, with a total revenue visibility of ₹27,028.13 million over 25 years. With a 10 per cent equity stake in Onix IPP, RSTL's share of gross annual revenue is expected to be ₹108.11 million, translating to ₹2,702.81 million over the project's lifetime. This move marks Rama Steel Tubes' entry into the fast-growing renewable energy sector, reinforcing its commitment to Environmental, Social and Governance (ESG) goals, and creating long-term value for shareholders, it said in a statement. "We are proud to be part of this landmark renewable energy initiative. Our strategic investment in the 225 MW PM-KUSUM project not only strengthens our ESG profile but also diversiϐies our revenue base," Richi Bansal, whole time director and chief executive officer, said. "This is a future-forward step aligned with India's net-zero vision and rural empowerment." About Rama Steel The company's manufacturing facilities are located at Sahibabad in Ghaziabad District of Uttar Pradesh and Khopoli in Raigarh District of Maharashtra. The total installed capacity stood at 96,000 MT. The product applications have usage in various industries, including automobiles, infrastructure, real estate and furniture. The key products in the portfolio include galvanised tubes, ERW black steel pipes and tubes, scaffolding pipes and tubes, structural steel products and hollow sections.
Time of India
30-05-2025
- Business
- Time of India
Jodhpur Discom Powers Rajasthan's Green Future: 841 MW Solar & Farmer Empowerment
Jodhpur Vidyut Vitran Nigam Limited ( Jodhpur Discom ) has successfully established 432 solar power plants with a cumulative generation capacity of 841 megawatts (MW) under the Prime Minister's Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. This marks a step in Rajasthan's journey to become a renewable energy hub while addressing the dual objectives of energy security and agricultural resilience. Speaking to The ET Government, Dr. Bhanwarlal, Managing Director of Jodhpur Discom , emphasized the transformative impact of the initiative. Through effective implementation of the PM-KUSUM scheme, our farmers are not only accessing clean and sustainable energy but also gaining new sources of income, he said. 841 MW Solar Capacity Already Commissioned,Target of 6,000 MW by March 2026 As of May 2025, 432 decentralized solar power plants have been commissioned within the Jodhpur Discom area, generating 841 MW of electricity. These installations are now supplying power to approximately 75,000 agricultural consumers, marking a significant milestone in the government's mission to transform India's rural energy infrastructure. The solar plants have provided a sustainable solution to farmers' energy woes, Dr. Bhanwarlal noted. More importantly, they have become a stable and long-term source of income for them. Looking ahead, Jodhpur Discom has laid out an ambitious roadmap to scale its solar energy capacity to 6,000 MW by March 2026. This expansion aims to benefit nearly 4.95 lakh farmers across the region, significantly reducing reliance on conventional grid electricity and diesel-powered irrigation. This projected capacity expansion will cement Rajasthan's position as a leader in renewable energy generation,' Dr. Bhanwarlal said. 'It will also enable thousands of farmers to become energy producers, not just consumers. The expansion aligns with the Government of India's broader goals to increase the share of non-fossil fuels in the power mix and meet its climate commitments under international accords. Power Purchase Agreements (PPA) Ensure Steady Farmer Incomes One of the key attractions of the PM-KUSUM scheme is the provision for farmers to establish solar plants on their land and enter into long-term Power Purchase Agreements (PPA) with Discoms. These PPAs ensure that farmers have a reliable and consistent source of income by selling electricity back to the grid. This system not only enables productive utilization of agricultural land but also ensures financial empowerment of farmers, Dr. Bhanwarlal explained. It's a win-win for energy security, environmental sustainability, and economic development. With predictable earnings from electricity sales, farmers can diversify their income, reduce debt dependency, and reinvest in their agricultural activities. For many, this has become a pathway to financial stability. Driving Energy Independence Through Policy Backing Dr. Bhanwarlal credited both central and state governments for their proactive policy support, which has been instrumental in enabling the implementation of the PM-KUSUM scheme. The initiative is a decisive step towards an energy-resilient and environmentally stable future. The supportive policy framework has encouraged Discoms to actively participate in decentralized solar energy deployment,he said. He also emphasized that the scheme supports India's commitments to the Paris Climate Agreement and aligns with the goals of achieving Net Zero emissions by 2070. Rajasthan's proactive role, particularly through the Jodhpur Discom, showcases how regional initiatives can have a significant national impact. By reducing dependence on diesel and fossil-fuel-based electricity, solar installations under PM-KUSUM are significantly lowering carbon emissions in agricultural operations. The move toward clean energy not only mitigates climate change risks but also helps preserve natural ecosystems. The Jodhpur Discom's efforts contribute to a cleaner, greener environment,' Dr. Bhanwarlal said. 'In the long run, this will lead to improved air and soil quality, reduced groundwater depletion, and better climate resilience for rural communities. Building Infrastructure for a Renewable Future Implementing large-scale solar energy infrastructure in rural areas comes with its own set of challenges—land identification, transmission connectivity, regulatory approvals, and capacity building. However, Jodhpur Discom has overcome these hurdles through strategic planning, collaboration with local stakeholders, and transparent execution. The Discom is also working closely with local entrepreneurs and renewable energy developers to streamline installation and grid integration processes. This collaboration ensures that both technical and operational standards are maintained while also fostering employment generation in rural areas. The success of the PM-KUSUM implementation in the Jodhpur region is now being seen as a model for replication across India. With vast tracts of arid and semi-arid land, Rajasthan holds enormous potential for solar energy generation. Jodhpur Discom's pioneering work showcases how harnessing this potential can result in both economic and ecological dividends. The initiative sets a precedent not just for Rajasthan but for the entire country,' said Dr. Bhanwarlal. 'It demonstrates the tangible benefits of integrating renewable energy with rural development strategies. Farmers at the Core of the Solar Transition Perhaps the most transformative aspect of the PM-KUSUM initiative is the empowerment of farmers to become active participants in the energy transition. Traditionally seen as consumers at the end of the energy value chain, they are now becoming producers and stakeholders in India's clean energy journey. This isn't just about solar panels, said Dr. Bhanwarlal. It's about transforming lives, empowering farmers, and decentralizing our energy future. With the addition of solar infrastructure, farmers can now irrigate their fields with affordable and uninterrupted power, grow multiple crop cycles, and increase agricultural productivity—all while contributing to the national grid. With more solar plants on the horizon and nearly half a million farmers set to benefit in the coming years, the momentum is strong. Jodhpur Discom's leadership under the PM-KUSUM scheme is not just powering farms—it's energizing lives, communities, and the very fabric of sustainable development in India. Quick Facts: PM-KUSUM in Jodhpur Discom Region Total Solar Plants Commissioned (as of May 2025): 432Installed Capacity: 841 MWNumber of Farmers Benefited: ~75,000Target by March 2026: 6,000 MW additional solar capacityFuture Beneficiaries: ~4.95 lakh farmersIncome Mechanism: Long-term Power Purchase Agreements (PPA)
Business Upturn
27-05-2025
- Business
- Business Upturn
Indian Metals signs 25-year power purchase agreement with AMPIN Energy Utility One
Indian Metals has recently informed exchanges that the company signed a long-term Power Purchase Agreement (PPA) with Ampin Energy Utility One Private Limited for the supply of hybrid renewable energy. This agreement follows a previously established binding term sheet between the two companies. Under the terms of the agreement, Ampin Energy Utility One will supply Indian Metals with hybrid renewable power corresponding to a contracted demand of 40 MW. The project will comprise 58 MW AC of solar capacity and 58 MW of wind capacity. The duration of the Power Purchase Agreement is 25 years. This initiative aligns with Indian Metals' ongoing efforts to integrate renewable energy into its power mix. In the exhcange fling, Indian Metals shared, 'In continuation of our earlier intimation dated 25th February 2025 wherein the Company had entered into Binding Term Sheet with AMPIN ENERGY UTILITY ONE PRIVATE LIMITED to supply hybrid renewable power of 40 MW Contracted demand (Solar capacity of 58 MW AC & Wind capacity of 58 MW), we are pleased to inform you that the Company has signed a Power Purchase Agreement with the above Company for 25 years (twenty five years).' With this PPA, Indian Metals sets a benchmark in the industry for transitioning to clean energy and driving environmental stewardship. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Recorder
08-05-2025
- Business
- Business Recorder
FY2025-26: CPPA-G projects Re0.30-Rs2.25 cut in power purchase price
ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has projected reduction in Power Purchase Price (PPP) in the range of Re 0.30 per unit to Rs 2.25 per unit during fiscal year 2025-26. According to CPPA-G, the report, which has been submitted to Nepra outlines seven scenarios developed through sensitivity analysis of key assumption parameters, specifically demand, hydrology, fuel prices, and exchange rates. The CPPA-G has projected PPP price at Rs 24.75 per unit in 2025-26 from current rate of Rs 27.35 per unit. Across the analyzed scenarios, indigenous fuels constitute 55% to 58% of the overall energy mix, while clean fuels contribute between 52% and 56%. Scenario 5 — marked by a high exchange rate of Rs 300/$, low hydrology, standard fuel prices, and normal demand—yields the highest projected PPP at Rs. 26.70/kWh. In contrast, Scenario 4 which assumes normal demand and an exchange rate of Rs 280/$, results in the lowest PPP at Rs. 24.75/kWh, primarily due to reduced capacity charges. The projected PPP for each scenario in FY 2025-26. Authorised by AGPR: CPPA-G receives Rs148.75bn from SBP on TDS account In scenario one, CPPA-G has projected PPP at Rs 24.75 per unit, scenario 2- Rs 26.04 per unit, scenario 3- Rs 25.88 per unit, scenario 4- Rs 26.33 per unit, scenario 5- Rs 26.70 per unit, scenario 7- Rs 26.55 per unit and scenario 7, Rs 26.22 per unit. The CPPA-G has also projected seven scenarios for reduction in PPP in FY 2025-26. In scenario 1, reduction of Rs 2.25 per unit has been sought, scenario 2, Rs 0.96 per unit, scenario 3, Rs 1.12 per unit, scenario 4, Rs 0.67 per unit, scenario 5, Rs 0.30 per unit, scenario 6, Rs 0.45 per unit and scenario 7, Rs 0.78 per unit. The PPP forecast for FY 2026 has been submitted to the Authority for review and consideration in determining the monthly PPP reference values. The forecast was developed through comprehensive consultations in accordance with the established regulatory framework. In this regard various scenarios based on demand, fuel prices, hydrology, and economic parameters have been developed to assist the Authority in the tariff-setting process. The results/outputs provided herein are indicative and may change due to variation of underlying assumptions including commissioning schedules, future generation fleet, fuel prices, demand forecasts, exchange rate parity, and inflation. Moreover, monthly references for power purchase price presented in the report do not account for differential adjustments that may be allowed/disallowed, as the case may be. Accordingly, Nepra has been requested to consider the projection of Power Purchase Price references outlined in the report, along with its independent assessments, in order to arrive at the finalized PPP references for FY 2025-26. 'Any party consuming the results of this report for any purpose does so at its own risk and CPPA-G shall not be liable for the accuracy or completeness of the information contained hereunder and its suitability for any particular purpose,' said CPPA-G. CPPA-G further stated that the forecasting process is underpinned by the IGCEP, incorporating long-term demand projections, future generation portfolios (committed plants), and key macroeconomic and technical parameters. The demand forecast is based on two scenarios, Normal and High, with projected demand growth ranging from 2.8% to 5%. aligned with expected growth for FY 2025-26. These projections form the basis for setting PPP references for FY 2025-26. To assess the impact of hydrology on the Power Purchase Price (PPP) forecast for FY 2025- 26, two scenarios have been considered, as outlined with normal hydrology based on the 5-year average hydrological inflows and another reflecting the lower hydrological conditions observed in recent years. Additionally, for the assessment of PPP references under high fuel price, a 5% escalation in imported fuel prices — including imported coal, RLNG. and RFO—above the baseline assumption has been incorporated into the analysis. However, low fuel prices account for a 5% reduction in the fuel price of imported fuels during the horizon. Projections for key economic parameters — include LIBOR, KIBOR, U.S. inflation, and Pakistan inflation. The inflation data for the United States and Pakistan has been sourced from the IMF's World Economic Outlook report. To estimate KIBOR and SOFR, appropriate spreads have been applied in line with historical trends and prevailing market dynamics. Two power plants — Jamshoro Coal Power Plant and Shahtaj — have been considered for commissioning prior to the start of FY 2025-26. However, due to ongoing technical issues at the Neelum-Jhelum Hydropower Plant, it has not been included within the forecast horizon. The following additional assumptions have been applied in the preparation of PPP references for FY 2025-26: (i) HVDC+AC Corridor Transfer Capability: -Transfer limits are set at 4,500 MW for summer 2025. 3,600 MW for Winter and 5,000 MW for Summer 2026 (following the commissioning of Lahore North), as per the Normal Opera/ion arrangement of the SCS Strategy Table provided by M/s NARI; (ii) The mandatory 50% offtake under contractual obligations for imported coal has not been assumed in this dispatch plan; and (iii) these are based on assumed demand scenarios. However, actual fuel demand may vary depending on real-time system conditions and will be managed in accordance with prevailing contractual agreements. Copyright Business Recorder, 2025
