Latest news with #PowerPurchaseAgreements
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Business Standard
4 days ago
- Business
- Business Standard
Power Mech shares rise after ₹159 crore solar power project orders
Shares of Power Mech Projects rose over 2.5 per cent on Friday after it secured orders worth ₹159 crore from Bihar State Power Generation Company Limited (BSPGCL). The company's stock rose as much as 2.56 per cent during the day to ₹3,236 per share. The stock pared gains to trade 1.5 per cent higher at ₹3,201 apiece, compared to a 0.23 per cent advance in Nifty 50 as of 11:00 AM. Shares of the company extended gains to their fourth straight day on Friday, gaining over 8 per cent in the process. From its March low, the stock has surged nearly 83 per cent. The counter has risen 25 per cent this year, compared to an 8.12 per cent advance in the benchmark Nifty 50. Power Mech Projects has a total market capitalisation of ₹10,185.03 crore, according to BSE data. Track LIVE Stock Market Updates Here Power Mech bags orders worth ₹159 crore The company secured solar power project orders from BSPGCL under the PM-KUSUM Component C2 Scheme for feeder-level solarisation, according to an exchange filing on Thursday. The projects involve setting up grid-connected distributed solar power plants at three power sub-stations in Bihar, Rajoun (4.221 Mw), Sakahara (4.285 Mw), and Sambhuganj (5.155 Mw)—with a total capacity of 13.66 Mw (AC). The combined value of the contracts is approximately ₹159 crore, with estimated revenue generation over the Power Purchase Agreements (PPAs) tenure. The orders, awarded on a Build-Own-Operate (BOO) basis, will be executed within 12 months, according to the statement. The projects are backed by 25-year PPAs with Bihar DISCOMs and are eligible for government subsidies of ₹1.05 crore per Mw (central) and ₹0.45 crore per Mw (state). Power Mech Q4 results The company reported a 53.8 per cent jump in consolidated net profit to ₹129.8 crore in Q4FY25, as against ₹84.4 crore in the same quarter a year ago (Q4FY24), influenced by robust revenue growth and steady operating margins. Revenue from operations zoomed 42.34 per cent Y-o-Y to ₹1,853.3 crore in Q4FY25, from ₹1,301.5 crore in Q4FY24. About Power Mech The company is among the leading infrastructure and construction companies with a strong focus on the power and infrastructure sectors. It offers services such as the erection, testing, and commissioning (ETC) of boilers, turbines, and generators, along with Balance of Plant (BOP) works.
Time of India
16-06-2025
- Business
- Time of India
ReNew Energy Q4 net profit soars 415% to ₹313.7 crore
ReNew Energy Global Plc (ReNew), a global decarbonisation firm , reported a 415 per cent surge in its consolidated net profit for the March quarter (Q4), reaching ₹313.7 crore. It had reported a net profit of ₹60.9 crore in the same period last year. The growth was driven by higher revenues, including substantial income from its new manufacturing ventures . The Nasdaq-listed company reported its total income for the Q4 2025 at ₹3,439.1 crore, a sharp rise from ₹2,477.6 crore in the corresponding quarter of the previous year. A major contributor to this was the external sale of ₹991.4 crore from its module and cell manufacturing operations, a new revenue stream for the company. Revenue from the core business of power sales also saw an increase, climbing to ₹1,829.4 crore from ₹1,690.8 crore in Q4 FY24. For the full financial year 2024-25, ReNew posted a net profit of ₹459.1 crore, up from ₹414.7 crore in FY24. The total annual income reached ₹10,907 crore, compared to ₹9,653.1 crore a year ago. This annual figure includes ₹1,337.3 crore from the external sales of its manufacturing division. ReNew has significantly expanded its clean energy portfolio , which now stands at a gross 18.5 GW as of June 16, 2025, from 17.3 GW at the end of the fiscal year on March 31, 2025. It has signed 1.2 GW of new Power Purchase Agreements (PPAs) since the fiscal year ended. Its commissioned capacity also grew by 12.4 per cent year-on-year, reaching 10.7 GW by March 31, 2025. The company expects to complete the construction of an additional 1.6 to 2.4 GW of capacity by the end of FY2026.
Yahoo
10-06-2025
- Business
- Yahoo
Enfinity Global Signs PPAs for 420 MW of Renewable Energy Supply in Italy with a U.S. Technology Company
MILAN, June 10, 2025 /PRNewswire/ -- Enfinity Global announced today the signing of Power Purchase Agreements (PPAs) in Italy with a U.S. technology company, committing to supply renewable energy from a 420 MW portfolio of solar PV projects. "We are pleased to continue supporting our customers across diverse sectors in Italy as they advance their energy transition," said Carlos Domenech, CEO of Enfinity Global. "Our goal is to serve global and local customers in their renewable energy needs." Enfinity Global Enfinity Global is a leading U.S.-based renewable energy and sustainability services company established in 2019. The company owns a 35.5 GW portfolio of renewable energy and storage projects, including operational, under-construction, and development assets, with an additional 37 GW under negotiation across the United States. With offices in the U.S., Europe, Japan, and India, Enfinity aims to contribute to a low-carbon economy. Enfinity's leadership team brings over $41 billion of financing experience in the renewable energy sector, with over 26 GW of developed and acquired solar and wind assets. The company leads the solar PPAs market in Italy, having contracted 805 MW over the last two years with major corporations and industrial customers. Enfinity is currently Italy's leading independent power producer (IPP) as measured by permitted projects, according to the "Q4 Dev&Deals report" published by Elemens. Photo - - View original content to download multimedia: SOURCE Enfinity Global Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
10-06-2025
- Business
- Cision Canada
Enfinity Global Signs PPAs for 420 MW of Renewable Energy Supply in Italy with a U.S. Technology Company
MILAN, June 10, 2025 /CNW/ -- Enfinity Global announced today the signing of Power Purchase Agreements (PPAs) in Italy with a U.S. technology company, committing to supply renewable energy from a 420 MW portfolio of solar PV projects. "We are pleased to continue supporting our customers across diverse sectors in Italy as they advance their energy transition," said Carlos Domenech, CEO of Enfinity Global. "Our goal is to serve global and local customers in their renewable energy needs." Enfinity Global Enfinity Global is a leading U.S.-based renewable energy and sustainability services company established in 2019. The company owns a 35.5 GW portfolio of renewable energy and storage projects, including operational, under-construction, and development assets, with an additional 37 GW under negotiation across the United States. With offices in the U.S., Europe, Japan, and India, Enfinity aims to contribute to a low-carbon economy. Enfinity's leadership team brings over $41 billion of financing experience in the renewable energy sector, with over 26 GW of developed and acquired solar and wind assets. The company leads the solar PPAs market in Italy, having contracted 805 MW over the last two years with major corporations and industrial customers. Enfinity is currently Italy's leading independent power producer (IPP) as measured by permitted projects, according to the "Q4 Dev&Deals report" published by Elemens.
Express Tribune
09-06-2025
- Business
- Express Tribune
Power capacity rises to 46,605MW
Pakistan's installed electricity generation capacity rose to 46,605 megawatts (MW) during the first nine months of the ongoing financial year 2024-25, adding further strain on consumers due to mounting capacity payments for idle plants that produce no power. According to the Economic Survey 2024-25 released on Monday, the country's generation capacity grew by 1.6% from 45,888 MW recorded during the same period last year. This increase was primarily attributed to the addition of 2,813 MW through net metering, said the government. However, this expansion has intensified capacity payments, which now stand at Rs2.5 trillion to Rs2.8 trillion annually, burdening consumers who are compelled to pay for plants that remain idle. In an effort to reduce this financial strain, the government has terminated Power Purchase Agreements (PPAs) with several Independent Power Producers (IPPs) effective October 1, 2024. These include HUB Power, Lalpir Power, Pakgen Power, Rousch Power, Saba Power, and Atlas Power. The composition of the country's installed capacity by source stands at thermal (55.7%), hydel (24.4%), renewable (12.2%), and nuclear (7.8%). While thermal power remains the dominant source, its share has declined in recent years, reflecting a gradual shift toward indigenous and cleaner energy alternatives. Out of total electricity generation of 90,145 gigawatt-hours (GWh), the share of hydel, nuclear, and renewable energy combined reached 53.7%a significant move towards more sustainable energy sources. As of March 2025, the Private Power and Infrastructure Board (PPIB) had facilitated 88 operational IPPs with a cumulative capacity of 20,726 MW. The government's focus on renewable and local energy is further underlined by the fact that 84% of upcoming projects are in the clean energy sector. Power consumption Electricity consumption, however, showed a decline. During July-March FY2025, Pakistan's total electricity consumption stood at 80,111 GWh, down 3.6% from 83,109 GWh in the corresponding period of FY2024. This reduction is largely attributed to energy conservation measures, increased power tariffs, the growing use of off-grid solar systems, and sluggish industrial activity. The household sector accounted for 49.6% (39,728 GWh) of total consumption, up from 47.3% (39,286 GWh) the previous year. This indicates rising residential demand, likely driven by population growth, increased use of electrical appliances, and stable weather patterns. In contrast, industrial consumption fell to 21,082 GWh from 22,031 GWh, lowering its share from 26.5% to 26.3%. The agriculture sector saw the sharpest dropa 34.3% decline from 6,951 GWh to 4,566 GWhreducing its share to 5.7%. This was likely due to changing irrigation practices, rainfall variability, and a shift towards diesel-powered or solar alternatives amid high electricity prices. The commercial sector posted a slight increase in consumption, rising from 6,776 GWh to 6,898 GWh, lifting its share to 8.6%, reflecting modest improvements in retail and business activities in urban areas. Oil sector In the oil sector, total petroleum product consumption reached 13.17 million metric tonnes (MMT) during July-March FY2025, up 7.04% from 12.30 MMT in the same period last year. The transport sector remained the largest consumer, with usage increasing 7.99% to 10.54 MMT, comprising 80% of total demand. This growth reflects improved trade and logistics activity, alongside greater mobility. Industrial oil consumption fell 7.35% to 755.40 thousand tonnes due to reduced output in energy-intensive industries and fuel-switching to cheaper alternatives such as natural gas. The power sector's petroleum use plummeted 77.68% to just 116.21 thousand tonnes as reliance on furnace oil declined in favour of hydropower, coalincluding Thar coalnuclear energy, and imported LNG. The domestic sector's petroleum use rose moderately by 7.34%, while the agriculture sector posted a slight decline of 3.35%. The government sector recorded a small increase of 3.27%. During July-March FY2025, petroleum product imports climbed to 12.53 MMT, up 12.5% in volume, though the import bill remained stable at $8.4 billion due to lower global prices and improved procurement practices. Motor spirit (petrol) imports rose 11.3% in volume but fell 5.1% in value to $3.04 billion, reflecting favourable global prices. High-Octane Blending Component (HOBC) imports soared more than eightfold to 144.44 thousand tonnes, with the value rising to $108.40 million amid growing demand for premium fuels. High-speed diesel imports also increased 17.4% to 1.45 MMT, though the import bill edged lower to $1.01 billion. Crude oil imports rose by 8.8% to 6.76 MMT, but costs remained flat at $4.11 billion due to softened global prices. Higher crude imports align with increased domestic refining activity aimed at meeting local fuel demand. Jet fuel imports almost doubled to 195.67 thousand tonnes, with their value rising to $143.10 million, signalling recovery in domestic and international air travel. A small quantity of aviation gasoline (0.24 thousand tonnes) was imported, not recorded in the previous year. Gas sector Domestic natural gas met 29.3% of the country's total primary energy supply in FY2024. The country has a 14,276 km transmission network and over 200,000 km of distribution pipelines serving 10.7 million consumers. To address rising demand, the government is enhancing both local production and imports. Two Floating Storage Regasification Units (FSRUs) currently process 1,200 million cubic feet per day (MMCFD) of RLNG.
