Latest news with #BatteryEnergyStorageSystems
Time of India
4 hours ago
- Business
- Time of India
Amber Group to Acquire Majority Stake in Power-One Micro Systems
Amber Group , a homegrown contract manufacturer for HVAC and consumer electronics, has entered into definitive agreements for acquiring majority stake in Bengaluru-based Power-One Micro Systems -based Power-One Micro Systems. Power-One is a manufacturer of solar inverters , uninterruptible power supplies (UPS), Battery Energy Storage Systems (BESS), EV chargers and other power and energy solutions. "The transaction will enable the Amber group to foray into a rapidly growing segment of energy solutions including Solar inverter (on grid, off grid and hybrid), BESS, UPS, solar power plants and EV chargers and augment the Industrial segment of the Electronics Division of the Company," the company said. ILJIN Electronics India, a subsidiary of Amber Group, has entered into definitive agreements for taking a majority stake in PowerOne Micro Systems, which had a turnover of Rs 184.87 crore in FY'24. This deal will be on a "cash consideration." On valuation, Amber group said: "The acquisition of majority stake in the equity share capital of Power-One will be done at a mutually agreed value and will be disclosed separately post-closing." "This transaction will provide a strong foothold for Amber's Electronic Division into the rapidly growing sector for Battery Energy Storage Systems (BESS), EV chargers, UPS and Solar inverter (on grid, off grid and hybrid) market," said Jasbir Singh, executive chairman and CEO of Amber Group.
Time of India
6 hours ago
- Business
- Time of India
Reliance Power eyes 1,500 MW gas project, joins global bids
Anil Ambani 's Reliance Power Ltd is planning to set up a 1,500-MW gas-based power project overseas and is actively participating in several international tenders for its development, according to sources. Sources said, Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, UAE, and Malaysia as part of its selective global expansion strategy. The company has recently secured two mega power projects in Bhutan - a 500-MW solar project and a 770-MW hydropower project. Based on the outcome of the ongoing international bids, Reliance Power plans to relocate two 750 MW modules of world-class equipment currently in its possession in India. The proposed project is expected to create significant value in Reliance Power's balance sheet, as the company aims to realise up to Rs 2,000 crore through the monetisation of these assets. When contacted, a Reliance Power spokesperson confirmed the company's participation in global tenders. Originally, the company had imported three modules of 750 MW world class equipment from General Electric, USA, for a gas-based combined cycle power project, out of which one module was exported to Bangladesh for an LNG based power project in partnership with Japan's JERA. Now, Reliance Power intends to deploy the remaining two modules for a similar project at an overseas location. The demand for gas-based power - widely regarded as a clean energy source - is significantly high in countries such as Kuwait, the UAE, and Malaysia. However, global suppliers like GE typically require 3 to 5 years to deliver equipment for gas or LNG-based power plants. In contrast, Reliance Power has 1,500 MW of equipment readily available, enabling it to execute such projects in the shortest possible timeframe. Reliance Power is actively focusing on renewable and clean energy. The company has a strong development pipeline, including 2.5 GWp of utility-scale solar projects and more than 2.5 GWh of Battery Energy Storage Systems (BESS). This positions Reliance Power as the largest private sector player in the integrated solar + BESS segment in India. Reliance Power has also entered into a joint venture with the Bhutan Government's Druk Holding & Investments (DHI) for the development of a 500 -MW solar project and a 770-MW hydropower project in Bhutan. This marks the largest foreign direct investment by an Indian private company in Bhutan's renewable energy sector.
Time of India
7 hours ago
- Business
- Time of India
Reliance Power bids for global tenders to build 1,500 MW gas plant
Anil Ambani 's Reliance Power Ltd is planning to set up a 1,500-MW gas-based power project overseas and is actively participating in several international tenders for its development, according to sources. Sources said, Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, UAE, and Malaysia as part of its selective global expansion strategy. The company has recently secured two mega power projects in Bhutan - a 500-MW solar project and a 770-MW hydropower project. Based on the outcome of the ongoing international bids, Reliance Power plans to relocate two 750 MW modules of world-class equipment currently in its possession in India. The proposed project is expected to create significant value in Reliance Power's balance sheet, as the company aims to realise up to Rs 2,000 crore through the monetisation of these assets. When contacted, a Reliance Power spokesperson confirmed the company's participation in global tenders. Originally, the company had imported three modules of 750 MW world class equipment from General Electric, USA, for a gas-based combined cycle power project, out of which one module was exported to Bangladesh for an LNG based power project in partnership with Japan's JERA. Now, Reliance Power intends to deploy the remaining two modules for a similar project at an overseas location. The demand for gas-based power - widely regarded as a clean energy source - is significantly high in countries such as Kuwait, the UAE, and Malaysia. However, global suppliers like GE typically require 3 to 5 years to deliver equipment for gas or LNG-based power plants. In contrast, Reliance Power has 1,500 MW of equipment readily available, enabling it to execute such projects in the shortest possible timeframe. Reliance Power is actively focusing on renewable and clean energy. The company has a strong development pipeline, including 2.5 GWp of utility-scale solar projects and more than 2.5 GWh of Battery Energy Storage Systems (BESS). This positions Reliance Power as the largest private sector player in the integrated solar + BESS segment in India. Reliance Power has also entered into a joint venture with the Bhutan Government's Druk Holding & Investments (DHI) for the development of a 500 -MW solar project and a 770-MW hydropower project in Bhutan. This marks the largest foreign direct investment by an Indian private company in Bhutan's renewable energy sector.
The Hindu
16 hours ago
- Business
- The Hindu
APDCL enters into agreement with NARL, joint venture of NLCIL's subsidiary for development of 500 MW solar power plant in Assam
In a move aimed at accelerating renewable energy development in the Northeast, NIRL Assam Renewables Limited (NARL), a joint venture between NLC India Renewables Limited (NIRL) and Assam Power Distribution Company Limited (APDCL) have signed a Deed of Agreement for development of a 500 MW solar power plant in Assam. According to an official release, the agreement was signed in the presence of Union Minister for Coal and Mines G. Kishan Reddy, Assam Chief Minister S.C. Dubey, Union Minister of State for Coal and Mines Kaushik Rai and representatives from NLCIL and APDCL at the 2nd North-East Mining Ministers' conclave in Guwahati on Friday. As part of this agreement, the NARL and APDCL have committed to collaborate on the development of a 500 MW solar power generation plant at Lahorijan in Karbi Anglong district in Assam, as the first phase of implementation under a larger 1000 MW renewable energy development plant. Under the agreement, APDCL will hand over 8,000 bighas of land at Lahorijan to NARL for execution of the project. This initiative marks a major milestone in Assam's journey towards sustainable energy transition and supports India's broader commitment to achieving its renewable energy projects. According to Prasanna Kumar Motupalli, Chairman-cum-Managing Director of NLCIL, 'The agreement signed between NARL and APDCL reflects NLCIL's commitment to the energy needs of Assam and the Northeastern States. Through this collaborative venture, NLCIL aims to build large-scale green infrastructure, contribute to the region's energy security, and support the Government of India's vision for a Viksit Bharat by 2047.' 'The 500 MW solar power project is not just a power plant; it is a step towards inclusive growth, sustainability, and empowering communities through clean energy,' he added NARL, the implementing JV company, will anchor the execution of this solar project and future renewable initiatives in the region, including pumped storage and Battery Energy Storage Systems (BESS), contributing to Assam's Renewable Purchase Obligations (RPO) and long-term energy resilience.
India.com
19 hours ago
- Business
- India.com
Anil Ambani takes massive leap, takes part in global bids for...., Kuwait, UAE, and Malaysia will now be...
Anil Ambani (File) Anil Ambani takes massive leap: In a significant development for Mukesh Ambani's brother, Anil Ambani, Anil Ambani's Reliance Power Ltd is reportedly planning to set up a 1,500-MW gas-based power project overseas. Reliance Power is actively participating in several international tenders for its development and as per media report, Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, UAE, and Malaysia as part of its selective global expansion strategy. Here are all the details you need to know about Anil Ambani's Reliance Power Ltd. What is Reliance Power planning? As per a report by PTI news agency, Anil Ambani's company has recently secured two mega power projects in Bhutan – a 500-MW solar project and a 770-MW hydropower project. As a part of the project, Reliance Power plans to relocate two 750 MW modules of world-class equipment currently in its possession in India. The PTI report also says that through the proposed project, the company aims to realise up to Rs 2,000 crore through the monetisation of these assets. Where are the Global projects of Reliance Power? The report mentions that the demand for gas-based power – widely regarded as a clean energy source – is significantly high in countries such as Kuwait, the UAE, and Malaysia. However, global suppliers like GE typically require 3 to 5 years to deliver equipment for gas or LNG-based power plants and in comparison, Anil Ambani's Reliance Power has 1,500 MW of equipment readily available, which helps it to execute such projects in the shortest possible timeframe, giving it a major edge over other global giants. How Reliance Power is focusing on renewable and clean energy! It should be noted that Reliance Power is actively focusing on renewable and clean energy. The company has a strong development pipeline, including 2.5 GWp of utility-scale solar projects and more than 2.5 GWh of Battery Energy Storage Systems (BESS). (With inputs from agencies)
