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<ul class="summary-list"><li>Google could one day use nuclear energy to power its AI data centers.</li><li>Google CEO Sundar Pichai said the company is "evaluating technologies like small modular nuclear reactors."</li></ul>If Google CEO Sundar Pichai's hints on Thursday are any indicator, nuclear energy may one day power some of Google's <a target="_blank" href="https://www.businessinsider.com/amazon-google-microsoft-ai-future-data-centers-monopoly-tech-industry-2024-6">energy-hungry AI data centers</a>.<a target="_blank" class="" href="https://www.businessinsider.com/ex-google-manager-made-working-with-manual-for-coworkers-2024-9">Google</a>, Pichai said, is looking for energy sources that not only meet its high energy needs but will also fulfill its goal of generating net-zero emissions.The search giant aims to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/google-s-carbon-emissions-surge-amid-ai-energy-demand-1033526252">achieve net-zero emissions</a> across all of its operations by 2030."It was a very ambitious target and we are still going to be working very ambitiously towards it. Obviously, the trajectory of AI investments has added to the scale of the task needed," Pichai said in an interview with Nikkei Asia published Thursday."We are now looking at additional investments, be it solar, and evaluating technologies like small modular nuclear reactors, etc.," Pichai added, though he didn't specify when and where Google would start sourcing electricity from nuclear power plants.To be sure, this isn't the first time Google has expressed interest in clean energy alternatives like nuclear energy.In September 2023, Google published a blog post and white paper saying that it would "continue to invest significantly" in clean energy technologies like geothermal power and hydrogen.Google isn't the only tech giant considering using nuclear energy to power its data centers.Both its competitors, Amazon and Microsoft, have already announced electricity deals with nuclear power stations.In March, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-could-cut-managers-save-3-billion-analysts-2024-10">Amazon</a> inked a $650 million deal to buy electricity from the Susquehanna nuclear power station, per the Financial Times.Then, in September, <a target="_blank" href="https://www.businessinsider.com/microsoft-plan-double-triple-data-center-capacity-2024-4">Microsoft</a> signed a 20-year deal to purchase energy from Pennsylvania's Three Mile Island nuclear plant, the plant's owner, Constellation Energy, said in a statement.The reactor, which was shut down in 2019, is slated to be restarted in 2028.

Google is considering nuclear power to feed its energy-hungry AI data centers

<ul class="summary-list"><li>The climate crisis is intensifying both the summer heat and the winter cold in Texas.</li><li>Some Texans worry the power grid can't handle rising demand from population growth and bad weather.</li></ul>Ty Joerger, 25, was a Texan through and through.The multimedia producer was born in Houston, lived in San Antonio as a child, and grew up in the Dallas-Fort Worth area. He hadn't seriously considered living anywhere else.Then came the <a target="_blank" href="https://www.ncei.noaa.gov/news/great-texas-freeze-february-2021">Great Texas Freeze</a> of 2021 — when <a target="_blank" href="https://www.businessinsider.com/texas-green-power-energy-america-economy-wind-oil-solar-prices-2023-11">the state's strained power grid</a> collapsed in the middle of a deadly winter storm. In a University of Houston survey of 1,500 Texas adults, <a target="_blank" href="https://uh.edu/hobby/winter2021/">69% of respondents said they went without power</a> between February 14 and 20, and about 49% reported interruptions in water supply.Two hundred forty-six people died amid the power outages from conditions including hypothermia and carbon-monoxide poisoning, the Texas Department of State Health Services reported.Joerger — who at the time was living in North Richland Hills, a large suburb of Fort Worth — went without running water for a week, boiling snow for drinking and cooking, he said.<div type="image" title="Texas 2021 snowstorm." height="960" width="1280" msid="106234172" hostid="261" sizebytes="210902"></div>Joerger's disenchantment with his home state was already mounting. He was turned off by its anti-LGBTQ+ climate and recurring mass shootings. What he saw as Texas' failure to reliably deliver electricity to its millions of residents during cold snaps or heat waves was the last straw: In 2022, he and his partner moved to Seattle, attracted by the prospect of a politically and socially progressive environment with favorable weather."I don't want to deal with 110 degrees outside and having to worry if my air conditioning is going to turn off all of a sudden or if my pets are going to overheat," Joerger told Business Insider.With the <a target="_blank" href="https://www.farmersalmanac.com/extended-forecast">Farmers' Almanac forecasting an "unseasonably" cold winter</a> for Texas throughout January and February, some residents worry about the possibility of another grid-threatening event.Even if the state manages to avoid another "snowmageddon," concerns persist about <a target="_blank" href="https://www.texastribune.org/2023/09/07/texas-hottest-summer-2023/">another scorching summer</a>. As the climate crisis intensifies weather extremes, Texans have grown frustrated with what they see as government inaction and failing infrastructure — and it's partially motivating some, including Joerger, to pack up their things and leave.<h2>Texas' power grid is complex — and struggling</h2>The contiguous US is divided into three energy-grid systems: the Eastern, Western, and Texas interconnections. Texas' grid operates independently under the management of the <a target="_blank" href="https://www.ercot.com/about#:~:text=ERCOT%20is%20a%20membership%2Dbased,Texas%20and%20the%20Texas%20Legislature.">Electric Reliability Council of Texas</a>. ERCOT, a nonprofit, membership-based corporation established in 1970, is governed by a board of directors and overseen by both the Public Utility Commission of Texas and the Texas Legislature.As of 2023, it oversaw electricity distribution to <a target="_blank" href="https://comptroller.texas.gov/economy/economic-data/energy/2023/ercot-snap.php">more than 26 million customers in Texas</a>, covering about 90% of the state's electric demand, according to the Texas comptroller. As <a target="_blank" href="https://www.businessinsider.com/texas-population-state-economic-growth-housing-2023-9">Texas' population grows</a>, demand is <a target="_blank" href="https://www.reuters.com/business/energy/dont-blame-weather-texas-power-shortages-kemp-2022-07-13/">straining the system</a>.ERCOT appears to be trying to serve its customers better. In November, The Texas Tribute reported that <a target="_blank" href="https://www.texastribune.org/2023/11/02/texas-ercot-budget-increase-public-utility-commission/">ERCOT's budget would increase 40% in 2024</a>, adding almost $119 million to its budget of $287 million. (The funds are set to be generated through fees imposed on businesses supplying electricity to consumers.) The council said it needed the extra funding to comply with new regulations, grow its workforce, and handle legal challenges, the Tribune reported."The Texas grid is more complex, dynamic, and diverse than ever before, and the pace of growth and change is accelerating," ERCOT's lawyers wrote to state legislators, according to the Tribune.<div type="image" title="Power plant on Lake Texas." height="1575" width="2362" msid="106234175" hostid="261" sizebytes="234120"></div>ERCOT said in November that there's <a target="_blank" href="https://www.ercot.com/news/release/2023-11-17-ercot-cancels-procurement">a 20% chance of going into emergency operations</a> if a bad winter storm hits.Ed Hirs, an energy-market expert and lecturer at the University of Houston, told the Tribune that given the grid's record high demand over the summer — <a target="_blank" href="https://www.washingtonpost.com/business/energy/2023/07/25/why-the-texas-power-grid-is-facing-another-crisis-quicktake/7fb03a08-2aff-11ee-a948-a5b8a9b62d84_story.html">which threatened the entire system once again</a> — and its aging condition, the 20% chance should not be tolerated."We should not be accepting this," he said. "This is not what we pay them for."<h2>Power unreliability is one factor driving Texans away</h2>Following the 2021 storm, Joerger had hoped that the state would act fast to significantly improve the grid.By summer 2022, he said, not much had appeared to change from a customer perspective."I can't count the number of days this past summer where ERCOT warned about power usage since they couldn't handle the output," Joerger said.<div type="image" title="A power plant in Texas." height="2804" width="4206" msid="106234178" hostid="261" sizebytes="313768"></div>James McClure, a fifth-generation Texan who lives in Austin, told BI that he's not sticking around to see if ERCOT improved.McClure and his wife, originally from "Southern California by way of Indiana," have been planning to leave Texas for over a year, he said."Two almost-collapses of the power grid in the last two years and the Legislature's inability to do anything about it doesn't fill me with confidence," McClure told BI. "The growing number of over-100-degree days in the summer doesn't help, either."After considering states such as North Carolina and Connecticut, the couple recently purchased a home in Wisconsin and plan to move there in 2024."I'm happy to trade a lot more chilly days where we can bundle up over the hundred degrees we had in Austin," he said. "Neither are fun to be out and about, but we can still go for a walk in chilly and bundled-up weather — where we just can't in too-hot-to-handle weather."

Some people are leaving Texas because of its unreliable energy grid and frequent power outages

The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, places significant emphasis on <keyword id="19941381" type="General" weightage="20" keywordseo="energy-security" source="keywords">energy security</keyword> and sustainability. As per the government, the current strategy will focus on ensuring that energy resources are readily available, making energy affordable for all citizens and keeping energy costs low to prevent economic strain on consumers. Here's a breakdown of the key initiatives announced: <h2>PM Surya Ghar Muft Bijli Yojana</h2>One of the standout initiatives is the PM Surya Ghar Muft Bijli Yojana. This program aims to install <keyword id="20366573" type="General" weightage="20" keywordseo="rooftop-solar-plants" source="keywords">rooftop solar plants</keyword> across 1 crore households, providing up to 300 units of free electricity per month. As per the FM, the scheme has already seen significant interest, with over 1.28 crore registrations and 14 lakh applications. <h2>Pumped Storage Policy</h2>To enhance electricity storage capabilities and integrate more <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> into the grid, the government will introduce a policy promoting pumped storage projects. These projects are crucial for balancing the intermittent nature of renewable energy sources like wind and solar power. <div type="Article" hostid="261" msid="111956035" title="Union Budget 2024: What FM Nirmala took from your pocket, what she gave you" mstype="2" mssubtype="0"></div> <h2>Development of <keyword id="20876045" type="General" weightage="20" keywordseo="nuclear-energy" source="keywords">Nuclear Energy</keyword></h2>Recognising the importance of nuclear energy in India's future energy mix, the government plans to invest in new nuclear technologies. The announcement also mentioned partnering with the private sector to develop and set up Bharat <keyword id="20260886" type="General" weightage="20" keywordseo="Small-Modular-Reactors" source="keywords">Small Modular Reactors</keyword>. Boasting up to a 300 MW capacity, Small Modular Reactors are mobile, flexible in design and require a smaller footprint. Unlike conventional nuclear reactors that need to be built on-site, SMRs can be factory-built. These advantages can add up to significant savings in cost and construction time. <h2>Advanced Ultra Super Critical Thermal Power Plants</h2>The Budget highlights the completion of indigenous technology development for Advanced Ultra Super Critical (AUSC) thermal power plants. These plants boast higher efficiency and will be established through a joint venture between the National Thermal Power Corporation and Bharat Heavy Electricals Limited. The initiative includes government support for fiscal needs and aims to boost local production of high-grade steel and advanced metallurgical materials. <h2>Roadmap for Hard-to-Abate Industries</h2>A significant shift is planned for industries that are difficult to decarbonise. The government will move these industries from energy efficiency targets to emission reduction targets. This transition will be regulated through the Indian Carbon Market, replacing the current 'Perform, Achieve and Trade' mode. <h2>Support for Traditional Micro and Small Industries</h2>To promote cleaner energy usage and efficiency, the government will conduct energy audits in 60 clusters of traditional micro and small industries, including brass and ceramics. Financial support will be provided to help these industries switch to cleaner energy forms and implement energy efficiency measures. This initiative will be expanded to 100 more clusters in the next phase. As per Sameer Jain, Managing Director at Primus Partners, MSMEs consume approximately 50% of the nation's power needs while generating over 75% of greenhouse gas emissions. As a result, additional support — such as climate financing — will be crucial to ensure that the MSME sector adapts well to the green revolution, especially with how the budget has committed support to MSMEs to grow and compete globally. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div> <h2><keyword id="22521154" type="General" weightage="20" keywordseo="climate-resilient-crops" source="keywords">Climate-Resilient Crops</keyword></h2>The government will release 109 high-yielding and climate-resilient varieties of 32 field and horticultural crops for cultivation by farmers. With the provision of research funding, including for the private sector, this move is part of a broader strategy to enhance agricultural productivity while adapting to climate change. <div type="Article" hostid="261" msid="111957080" title="What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?" mstype="2" mssubtype="0"></div> <h2>Minerals for Green Technologies</h2>To support the growing demand for minerals used in green technologies, such as cobalt and lithium, the budget proposes exemptions from custom duties for 25 critical minerals and reduction on basic customs duty for two other essential metals. This move aims to bolster the domestic manufacturing of batteries and other components crucial for electric vehicles and renewable energy technologies. <h2>Development of Climate Taxonomy</h2>A new climate taxonomy will be developed to guide the green transition, ensuring that investments and policies are aligned with the goal of reducing carbon emissions and promoting sustainable practices. All in all, the Union Budget 2024-25 sets a promising course for India's energy and sustainability sector. With substantial investments and new initiatives, it aims to accelerate the transition to a greener future, and hopefully take us a step further towards India's net-zero emissions target by 2070.

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

The <keyword id="6354889" type="General" weightage="50" keywordseo="central-bureau-of-investigation" source="Orion">Central Bureau of Investigation</keyword> (CBI) on Thursday carried out raids at eleven locations across India including Gurugram and arrested six persons including officials of <keyword id="14392422" type="General" weightage="50" keywordseo="tata-projects-limited-and-power-grid-corporations" source="Orion">Tata Projects Limited and Power Grid Corporations</keyword> in connection with a corruption case. "B.S. Jha, the executive director of <keyword id="6368906" type="General" weightage="100" keywordseo="power-grid" source="Orion">Power Grid</keyword> has been arrested by us along with five others. Rs 93 lakh cash was also recovered from his house in Gurugram," said the source. The source said that <keyword id="14392421" type="General" weightage="50" keywordseo="desh-raj-and" source="Orion">Desh Raj and</keyword> R.N. singh working with <keyword id="2971015" type="General" weightage="80" keywordseo="tata-projects-limited" source="Orion">Tata Projects Limited</keyword> were also arrested in this connection. An FIR was lodged in this respect in February. There was an scheme for North East Region, North System Improvements scheme, which was for <keyword id="14392423" type="General" weightage="50" keywordseo="arunanchal-pradesh-and-sikkim" source="Orion">Arunanchal Pradesh and Sikkim</keyword>. The accused persons had got the tenders of the said project. As per allegations huge money was paid as bribe to get the project. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lg-electronics-estimates-q2-operating-earnings-fall-by-12-on-weaker-demand/articleshow/92721180.cms">LG Electronics Q2 operating earnings fall by 12% on weaker demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/id-fresh-offers-stock-options-to-another-27-employees-aims-to-create-100-crorepatis-in-the-next-three-years/articleshow/92722488.cms">ID Fresh offers stock options to another 27 employees, aims to create 100 crorepatis in the next three years</a>

CBI arrests officials of Tata Projects and Power Grid among others in graft case

<ul><li>The project is likely to get huge subsidies and incentives, like zero stamp duty on land purchase and subsidised water and electricity. </li><li>Gujarat became the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector. </li><li>The state government has also announced to reimburse 100 per cent of stamp duty which investors would pay for the first time for taking land on lease.</li></ul> <keyword id="28423" type="DOMAIN" weightage="20" keywordseo="vedanta" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="vedanta" meta.entityname="Vedanta Ltd." meta.entityid="13111" meta.seoname="vedanta-ltd">Vedanta</keyword> and Foxconn have hired experts who are evaluating possible locations for their upcoming <keyword id="1034078" type="General" weightage="100" keywordseo="semiconductor-plant" source="Orion">semiconductor plant</keyword> in Gujarat and a site may be finalised in the next couple of weeks, Gujarat Science and Technology Department Secretary Vijay Nehra said. So far, the joint venture company has not finalised the location as they are evaluating various sites in Gujarat based on technical aspects, commercial viability and connectivity to set up the semiconductor and a display fabrication unit in the state, Nehra told PTI. In the biggest ever corporate investment in the history of independent India, a joint venture of the Vedanta and Foxconn had on September 14 signed a Memorandum of Understanding (MoU) with the Gujarat government to invest ₹ 1,54,000 crore to set up the plant in the state. Nehra had signed the MoU on behalf of the state government. "Vedanta and Foxconn have hired sector experts who are evaluating possible sites for the upcoming plant in Gujarat. Earlier they were evaluating multiple sites across different countries. In December 2021, when the Centre had announced the 'India Semiconductor Mission', they started looking for sites across different states in India (and then selected Gujarat)," Nehra said. The promoters are now evaluating sites in Gujarat on different technical aspects, commercial viability, connectivity and utility point of view, Nehra said, adding that the site may be finalised in the next couple of weeks. "There are many minute things which need to be kept in mind while selecting the site. For example, the production process can get affected due to the vibrations of passing trains. There must not be any vibrations near the plant. Power outage of even one second in a year can result in a loss of crores of rupees," he said. The project is likely to get huge subsidies and incentives, like zero stamp duty on land purchase and subsidised water and electricity, under the '<keyword id="15015910" type="General" weightage="100" keywordseo="gujarat-semiconductor-policy-2022-27" source="Orion">Gujarat Semiconductor Policy 2022-27</keyword>' announced by the state government in July this year. Gujarat became the first state in the country to have such a dedicated policy for the semiconductor and display fabrication sector, a government official earlier said. While announcing the policy, the Gujarat government had announced that it will set up '<keyword id="14570013" type="General" weightage="100" keywordseo="dholera-semicon-city" source="Orion">Dholera Semicon City</keyword>' in the Dholera Special Investment Region near Ahmedabad to attract investors. Under this policy, eligible projects will be given 75 per cent subsidy on purchase of the first 200 acres of land for setting up manufacturing units. The eligible projects will be provided good quality water at the rate of ₹ 12 per cubic metre for the first five years. If the investor decides to build its own desalination plant for captive use in the initial five years, the government will provide capital subsidy of 50 per cent of project cost, according to the policy document. The eligible manufacturing units would also get power tariff subsidy of ₹ 2 per unit for the first 10 years of going into production, it said, adding that such projects can also claim exemption from paying any electricity duty. To encourage investors under the policy, the state government has also announced to reimburse 100 per cent of stamp duty which investors would pay for the first time for taking land on lease, sale or on land transfer. In order to remove bottlenecks and provide quick clearances to investors, the state government will establish a single window mechanism to provide all the necessary approvals from one place, the policy document stated. Since uninterrupted power supply is crucial for such projects, the government will provide or facilitate "adequate redundancy in the <keyword id="6368906" type="DOMAIN" weightage="20" keywordseo="power-grid" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="power grid" meta.entityname="Power Grid Corporation of India Ltd." meta.entityid="4628" meta.seoname="power-grid-corporation-of-india-ltd">power grid</keyword> to ensure quality power supply for smooth operations". The policy also gives an assurance that the government will "develop appropriate water distribution to ensure the treated water is delivered to the eligible project". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gross-direct-tax-collections-rise-30/articleshow/94281181.cms">Gross direct tax collections rise 30%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/chinas-chip-output-shrinks-as-india-us-ramp-up-local-manufacturing/articleshow/94281093.cms">China's chip output shrinks as India, US ramp up local manufacturing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mukesh-ambani-donates-1-5-crore-to-tirumala-temple/articleshow/94280695.cms">Mukesh Ambani donates ₹ 1.5 crore to Tirumala temple</a>

Vedanta-Foxconn semiconductor plant site in Gujarat likely to be finalised in 2 weeks: Official

Mumbai, <keyword id="6375349" type="DOMAIN" weightage="20" keywordseo="Reliance-Infrastructure">Reliance Infrastructure</keyword> Limited (RInfra) on Saturday announced the successful completion of sale of its entire 74% equity stake in Parbati Koldam Transmission Company Limited (PKTCL) to India Grid Trust (IndiGrid) for an enterprise value of ₹900 crore. RInfra owns 74% in PKTCL located in the state of Himachal Pradesh and Punjab in joint venture with the <keyword id="176911" type="COMPANY" weightage="20" keywordseo="Power-Grid-Corporation-of-India-Limited">Power Grid Corporation of India Limited</keyword> (PGCIL). The deal was announced in November 2020 with the signing of a definitive binding agreement between RInfra and IndiGrid and has now been completed with transfer of shares of PKTCL, and receipt of sale consideration. IndiGrid (BSE: 540565, NSE: INDIGRID) is India's first power sector <keyword id="2584560" type="COMPANY" weightage="20" keywordseo="Infrastructure-Investment-Trust">Infrastructure Investment Trust</keyword>, owning AAA rated <keyword id="10568144" type="UNKNOWN" weightage="20" keywordseo="power-transmission-assets">power transmission assets</keyword> in India. With this acquisition, IndiGrid owns 12 operating power transmission assets with a total AUM of over ₹14,500 crore. The total transaction value is ₹900 crore. The entire sale proceeds are being utilised for debt reduction. RInfra has reduced its total debt liabilities by 6% from the deal proceeds. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/oyo-bags-a-7-4-million-cheque-as-pandemic-forces-ritesh-agarwal-to-reimagine-the-business/articleshow/80170847.cms">OYO bags a $7.4 million cheque as pandemic forces Ritesh Agarwal to reimagine the business</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-series-mobile-available-on-pre-orders-checkout-expected-price-of-this-smartphone/articleshow/80168058.cms">Samsung Galaxy S21 series now up for pre-orders ⁠— expected to be priced around ₹75,000</a> <a href="https://www.businessinsider.in/stock-market/news/tcs-ongc-tata-power-punjab-national-bank-nhpc-and-other-top-stocks-to-watch/articleshow/80164057.cms?upcache=2">TCS’ market share, ONGC’s borrowing, Tata Power gets new territories⁠— these and other top stocks to watch</a>

Reliance Infra completes sale of entire 74% shareholding in Parbati Koldam Transmission Company Limited India Grid Trust

Transmission utility <keyword id="6368906" type="COMPANY" weightage="20" keywordseo="power-grid">Power Grid</keyword> Corporation of India Ltd (<keyword id="66427" type="CITY" weightage="20" keywordseo="PowerGrid">Powergrid</keyword>) is set to acquire 74 per cent stake in <keyword id="6354937" type="PERSON" weightage="20" keywordseo="Jaypee">Jaypee</keyword> Powergrid Ltd-JV (JPL) for an undisclosed amount. The company on Monday signed a share purchase agreement with <keyword id="139117" type="COMPANY" weightage="20" keywordseo="Jaiprakash-Power-Ventures">Jaiprakash Power Ventures</keyword> Ltd (JPVL) that will allow it to take full control of the joint venture. Post acquisition, JPL will become a wholly-owned subsidiary of Powergrid. Powergrid, which currently holds 26 per cent equity in JPL, has developed a 214 km long EHV power transmission project to evacuate power from Karcham-Wangtoo project in Himachal Pradesh. The power transmitted is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh and Rajasthan. This deal comes against the backdrop of Powergrid in advanced talks with investors for its first tranche of projects through an infrastructure investment trust (InvIT) route. Post the first tranche, a Rs 10,000 crore second tranche for the InvIT is also in the works as reported earlier. The public sector transmission utility is among the first PSU to to offer an InvIT as part of the government's brownfield asset monetisation strategy.

Power Grid Corporation set to acquire 74% stake of Jaiprakash Power Ventures

<ul class="summary-list"><li>Record-breaking temperatures means millions of Americans are under heat advisories.</li><li>Several states are experiencing power outages due to high <keyword id="11917806" type="UNKNOWN" weightage="100" keywordseo="energy" source="Orion">energy</keyword> use and demand.</li></ul>Extreme heat early in the summer season is calling into question the strength of electricity and power grids across the country, as warnings about brownouts and requests to conserve power continue to rise. As temperatures increase, the risk of power outages grows along with them. Warmer <keyword id="11911086" type="UNKNOWN" weightage="60" keywordseo="weather" source="Orion">weather</keyword> means higher power usage as people turn to devices like air-conditioning units and fans to try to cool their homes and offices.A <a href="https://www.nerc.com/pa/RAPA/ra/Reliability%20Assessments%20DL/NERC_SRA_2022.pdf">May report</a> from the non-profit North American Electric Reliability Corporation (NERC) predicted a "high risk of energy emergencies during peak summer conditions" in the Upper Midwest. "We've been doing this for close to 30 years. This is probably one of the grimmest pictures we've painted in a while," John Moura, NERC's director of reliability assessment and performance analysis, told <a href="https://www.cbsnews.com/news/summer-blackouts-rising-risk-power-grid-nerc/">CBS</a>.<a href="https://www.reuters.com/world/us/heatwave-scorches-central-us-people-urged-stay-indoors-2022-06-13/">Reuters reported</a> that several states — including Nebraska, Wisconsin, Mississippi, among others — would experience a rise in the heat index in June. For states like Texas, this means a surge in power usage that's uncharacteristic for early summer months. The Electric Reliability Council of Texas, which operates the state's <keyword id="11977150" type="UNKNOWN" weightage="60" keywordseo="power-grid" source="Orion">power grid</keyword>, in a May <a href="https://www.ercot.com/news/release?id=8b772e9e-51d0-4c3c-e653-1e5079f28e89">news release</a> asked residents to conserve power by avoiding usage of large appliances and setting their thermostats to at least 78 degrees during peak hours in an effort to address record power demand. The vulnerability of the Texas power grid raises concerns following <a href="https://www.businessinsider.com/report-texas-in-danger-of-major-energy-crisis-this-winter-2021-11">winter storms in 2020 and 2021</a> that led to deadly blackouts. Now, the focus is on droughts, wildfires, and <keyword id="14236827" type="UNKNOWN" weightage="60" keywordseo="heat-waves" source="Orion">heat waves</keyword> that have "overwhelmed some of the country's infrastructure," <a href="https://www.cnbc.com/2022/06/14/texas-power-demand-breaks-record-as-severe-heat-wave-hits-the-state-.html">CNBC reports</a>. Although Midwestern states are considered high risk by NERC, the West Coast is also nearing dangerous territory: California, Arizona, and Nevada are classified as elevated risk. And as power companies try to find alternative sources for energy, they aren't able to replace old generators fast enough, <a href="https://www.cbsnews.com/news/summer-blackouts-rising-risk-power-grid-nerc/">according to CBS</a>. In Cleveland, residents have complained of brownouts that occurred when electricity demand outweighed the amount being produced in June. Cleveland Public Power, an organization that provides energy to Ohio, attributes the outages to hot weather conditions.In an effort to curb brownouts and keep residents safe, the city has started providing cooling centers around the city after a heat advisory was issued last week, according to <a href="https://www.cleveland19.com/2022/06/14/city-cleveland-opens-cooling-centers/">local news reports.</a> Other major cities, including Chicago and Detroit, have also relied on cooling centers as a way to combat the heat.Extreme weather conditions are a common factor in issues with the power grid across the country. Tornadoes, floods, and storms have caused thousands to go without power in recent years as such natural disasters continue to rise, <a href="https://www.cnn.com/2022/06/14/weather/extreme-weather-monday-heat-wave-flooding-power-outages/index.html">CNN reported.</a>"Climate change is increasing the frequency and intensity of heat waves around the world, tilting the scale in the direction of warmer temperatures," CNN meteorologist and climate expert Brandon Miller <a href="https://www.cnn.com/2022/06/14/weather/extreme-weather-monday-heat-wave-flooding-power-outages/index.html">said.</a>

Power outages and brownouts become growing concern as state electricity grids struggle against heatwaves and record-breaking high temperatures

Coal India, Power Grid, SBI Cards and other stocks to watch out for on June 18

The initial public offering (IPO) of units of <keyword id="66427" type="DOMAIN" weightage="20" keywordseo="PowerGrid">POWERGRID</keyword> Infrastructure Investment Trust ("POWERGRID <keyword id="2459878" type="COMPANY" weightage="20" keywordseo="InvIT">InvIT</keyword>"), an InvIT set-up to own, construct, operate, maintain and invest in infrastructure and power transmission assets in India, will open on Thursday, April 29, 2021 at a price band of ₹99 to ₹ 100. The offer closes on Monday May 3, 2021. POWERGRID InvIT is issuing Units aggregating up to ₹4,993.484 crore and the Selling Unitholder is offering Units aggregating up to ₹ 2,741.508 crore. As per the schedule, the Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date i.e. April 28, 2021. The Units of POWERGRID InvIT are proposed to be listed on <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword> and <keyword id="6354646" type="COMPANY" weightage="20" keywordseo="nse">NSE</keyword>. The Trust has received in-principle approvals from BSE and NSE for listing of the Units. The Offer will constitute at least 10 per cent of the outstanding Units on a post-Offer basis. The Net Proceeds from the Offer will be utilised towards providing loans to the Initial Portfolio Assets for repayment or pre-payment of debt, including any accrued interest, availed by the Initial Portfolio Assets; and for general purposes. The Offer is being made through the Book Building Process and in compliance with the [InvIT Regulations and the SEBI Guidelines] wherein not more than 75 per cent of the Offer shall be available for allocation on a proportionate basis to <keyword id="68968" type="COMPANY" weightage="20" keywordseo="institutional-investors">Institutional Investors</keyword>, provided that the Investment Manager and the Selling Unitholder may, in consultation with the Lead Managers, allocate up to 60 per cent of the Institutional Investor Portion to Anchor Investors on a discretionary basis in accordance with the InvIT Regulations and the SEBI Guidelines. Further, not less than 25 per cent of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors, in accordance with the InvIT Regulations and the SEBI Guidelines, subject to valid Bids being received at or above the Offer Price. Bids can be made for a minimum lot of 1,100 Units and in multiples of 1,100 Units thereafter by Bidders other than the units subscribed for by Anchor Investors. IDBI <keyword id="6362074" type="COMPANY" weightage="20" keywordseo="Trustee">Trustee</keyword>ship Services Limited is the Trustee, while <keyword id="210841" type="DOMAIN" weightage="20" keywordseo="Power-Grid-Corporation-of-India">Power Grid Corporation of India</keyword> Limited is the Sponsor. POWERGRID Unchahar Transmission Limited is the Investment Manager. The Lead Managers to the Offer are ICICI Securities Limited, Axis Capital Limited, Edelweiss Financial Services Limited and HSBC Securities and Capital Markets (India) Private Limited. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/sundar-pichai-and-satya-nadella-will-use-google-and-microsoft-resources-and-technology-to-support-india-during-the-covid19-crisis/articleshow/82253126.cms">From Sundar Pichai to Satya Nadella – Indian-Americans wake up to the COVID-19 crisis at home</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-what-is-proning-and-how-can-it-help-you-increase-oxygen-levels-at-home/articleshow/82251671.cms">COVID-19 – What is proning and how can it help you increase oxygen levels at home</a> <a href="https://www.businessinsider.in/business/startups/news/upgrad-gets-its-first-external-funding-from-singapore-based-temasek/articleshow/82253861.cms">Edtech startup upGrad gets its first external funding – a $120 million cheque from Temasek</a> <a href="https://www.businessinsider.in/science/health/news/maharashtra-kerala-and-chhattisgarh-states-are-on-top-covid-19-positivity-rate-in-india/articleshow/82254421.cms">COVID-19: These are the five states in India with the highest positivity rates</a>

You Searched For "Power Grid Corporation" and got 10 results

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Power Grid Corporation set to acquire 74% stake of Jaiprakash Power Ventures

Power outages and brownouts become growing concern as state electricity grids struggle against heatwaves and record-breaking high temperatures

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Coal India, Power Grid, SBI Cards and other stocks to watch out for on June 18

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