Shell to Acquire US-based EV Charging Firm Volta for $169 Million
Shell USA, a subsidiary of the oil major Shell, has acquired Volta, a U.S.-based Electric Vehicle (EV) Infrastructure company, in an all-cash transaction valued at approximately $169 million. The acquisition ...
Supreme Court to Assess Progress in Great Indian Bustard Case This Week
The Supreme Court is likely to apprise itself of the status of the installation of bird flight diverters atop power transmission in the habitat of the endangered Great Indian Bustard ...
RBI to Issue ₹160 Billion Sovereign Green Bonds in Two Tranches
The Reserve Bank of India (RBI), in consultation with the government, has said it will issue the Sovereign Green Bonds (SGB) worth ₹160 billion (~$1.9 billion) in two tranches on ...
Norfund, KLP to Acquire 49% Stake in ReNew’s Transmission Project
Norway’s development finance institution Norfund and the country’s largest pension fund KLP have announced an investment of NOK109 million (~$10.85 million) for a 49% ownership stake in ReNew Power’s transmission ...
Electric Vehicle Sales Clocked a Record One Million Units in 2022
Electric vehicle (EV) sales in India reached a record one million units in 2022, a jump of over 300% against the 322,877 units sold in 2021. EVs accounted for 4.7% ...
Power Ministry Considering Direct Benefit Transfer for Electricity Subsidies
The Ministry of Power is considering changes in the tariff policy that will allow the state governments to provide subsidies to eligible categories of consumers directly into their bank accounts ...
Power Ministry Mulls Shorter PPA Tenure to Help DISCOMs and Power Markets
The Ministry of Power is considering cutting the tenure of prospective long-term power purchase agreements (PPAs) to 12-15 years from the extant 25 years to provide more flexibility to the ...
CERC Retains Market Clearing Price Cap of ₹12/kWh in Exchanges for Now
The Central Electricity Regulatory Commission (CERC) passed a suo motu order retaining the ₹12 (~$0.14)/kWh price cap on power exchanges till further notice to ensure that prices didn’t rise disproportionately ...
Explainer: Why the New Regulations Have Made the Grid Unstable
Less than three weeks after the Central Electricity Regulatory Commission's (CERC) new regulation de-linked deviation charges and frequency, grid frequency swung wildly and dangerously on December 20, which spooked the ...
CERC Grants Interstate Electricity Trading License to Vibrant Energy
The Central Electricity Regulatory Commission (CERC) has granted a trading license to Vibrant Energy Holdings Global India (VEH Global India) for interstate electricity trading across India. The Commission noted that ...
CERC Reverts to Frequency-Linked Mechanism as Grid Security Faces Threats
The Central Electricity Regulatory Commission (CERC) has reverted to frequency-linked deviation settlement mechanism (DSM) as an interim measure to protect grid stability which has been under pressure over the last ...
Andhra Regulator Approves Renewable Energy Certificates Purchase by DISCOM
The Andhra Pradesh Electricity Regulatory Commission (APERC) recently ruled that the state distribution company (DISCOM) was entitled to procure renewable energy certificates (RECs) for the financial year (FY) 2019-20 and ...
Transmission System for 500 GW Renewable Capacity to Cost ₹2.44 Trillion
Union Power Minister R.K. Singh unveiled a comprehensive plan to evacuate the planned renewable power capacity of 500 GW by 2030 at an estimated cost of ₹2.44 trillion (~$29.64 billion) ...
DISCOMs AT&C Losses Decline to 17% in FY22 Due to Tough Reforms
The Aggregate Technical and Commercial (AT&C) losses of distribution companies (DISCOMs) declined significantly to ~17% in the financial year (FY) 2021-22 from 22.32% in FY 2020-21, according to the recent ...
CERC Yet to Act on ISTS Charges Waiver for Open Access Renewables Proposed by Ministry of Power
Nearly a year after the Ministry of Power (MOP) extended the timeline and widened the scope for waiver of the interstate transmission system (ISTS) charges for renewable energy projects, the ...
Tesla Records $21.5 Billion in Revenue and 2.1 GWh Energy Storage Deployments in Q3 2022
Tesla recorded total revenues of $21.5 billion in the third quarter (Q3) of 2022, a 57% year-over-year increase compared to $13.7 billion in Q3 2021 and a quarter-over-quarter (QoQ) leap ...
Gap Between DISCOMs’ Cost of Supply and Revenue Increases to ₹0.95/kWh in FY21
The Average Cost of Supply (ACS) for distribution companies (DISCOMS) increased from ₹6.14 (~$0.074)/kWh in financial year (FY) 2019-20 to ₹6.19 (~$0.074)/kWh in FY 2020-21. The Average Revenue Realized (ARR) ...
Electric Two and Four-Wheeler Sales Increase 183% YoY in Q3 2022
Retail sales of electric vehicles (EVs) clocked 257,278 units in the third quarter (Q3) of the calendar year 2022. This represents a 183% year-over-year (YoY) growth compared to the 90,831 ...
Uttar Pradesh Announces a Slew of Incentives for EV and Battery Manufacturing
Uttar Pradesh will provide a 30% base capital subsidy for the first two integrated electric vehicle (EV) and ultra-mega battery projects up to a maximum of ₹10 billion (~$121.43 million) ...
CERC to Evaluate Pricing Methodology in Power Exchanges, Invites Stakeholder Comments
The Central Electricity Regulatory Commission (CERC) has issued a discussion paper on pricing methodology in the power trading market in the wake of price spikes and unprecedented demand in the ...
Implementation of Revisions to EV Battery Testing Standards Postponed
The Ministry of Road Transport and Highways (MoRTH) has extended the implementation of amendments to Electric Vehicle (EV) battery testing standards from October 1, 2022, to December 2022 and March ...
Market Clearing Price Cap of ₹12/kWh in Power Exchanges Valid Until December-end
The Central Electricity Regulatory Commission (CERC) has ruled that the power exchanges should continue to allow members to quote a price in the range of ₹0/kWh to ₹12(~$0.15)/kWh in the ...
Uttar Pradesh DISCOM to Tender 10 MW/40 MWh Battery Energy Storage Project
The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved a request by the Uttar Pradesh Power Corporation (UPPCL) to issue a tender to install five battery energy storage systems (BESS) ...
Punjab Aims 25% EV Registrations by 2027, Incentivizes Giga Battery Manufacturing
The draft Punjab Electric Vehicle Policy 2022 has targeted 25% of annual vehicle registrations to be electric vehicles (EVs) by 2027. The draft policy issued by the Punjab Department of ...
Regulator Allows DISCOMs to Buy Green Power from Exchange-Linked Contracts
The Maharashtra Electricity Regulatory Commission (MERC) recently directed three distribution companies (DISCOMs) to tie up the medium-term and short-term power for their base load at the earliest. It also allowed ...
