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<keyword id="20357709" type="General" weightage="20" keywordseo="Tata-Power-Renewable-Energy" source="keywords">Tata Power Renewable Energy</keyword> Ltd (TPREL) has joined hands with state-owned <keyword id="22457046" type="General" weightage="20" keywordseo="NHPC-Renewable" source="keywords">NHPC Renewable</keyword> Energy Ltd (NHPC-REL) for installation of rooftop <keyword id="20297569" type="General" weightage="20" keywordseo="solar-projects" source="keywords">solar projects</keyword> on government buildings of central ministries, states, and union territories. "This collaboration represents a major step forward in our shared vision of a sustainable and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> future. By leveraging our combined strengths, we are confident in achieving our goal of 100 per cent solarisation by 2025," Nanda said. A Memorandum of Understanding (MOU) in this regard was signed on July 17, 2024 between Deepesh Nanda, CEO &amp; MD of TPREL, and S P Rathour, CEO of NHPC-REL, TPREL said in a statement. "This initiative will not only help us meet our solarisation targets but also contribute significantly to reducing the carbon footprint of government buildings," NHPC CMD R P Goyal said. An arm of Tata Power, TPREL is a developer of renewable energy projects including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage. It owns, operates, and maintains these projects. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank">Samsung Galaxy M35 5G with 6,000mAh battery launched in India starting at ₹19,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank">OnePlus Nord 4 vs Realme GT 6T – which mid-range phone should you buy under ₹35,000?</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank">Reliance Jio and Airtel added 3.45 million subscribers in May 2024, while Vi lost nearly a million</a>

Tata Power Renewable Energy, NHPC Renewable join hands for installation of rooftop solar projects

<keyword id="19923700" type="General" weightage="20" keywordseo="Tata-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Power" meta.hostid="261" meta.entityid="Tata Power">Tata Power</keyword> on Tuesday said it has logged 31 per cent rise in consolidated net profit at Rs 1,189 crore, compared to the year-ago period, on back of operational efficiency. "At Rs 1,189 crore, growing 31 per cent YoY (year-on-year), the company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of generation, transmission &amp; distribution, and renewables," Tata Power said in a statement. According to the statement, these businesses contributed 84 per cent of the PAT (net profit) in Q1FY25, compared to 72 per cent in the same period in FY24. The statement showed that the consolidated net profit before exceptional items was Rs 906 crore in the quarter ended June 30, 2023. The company's revenue rose 12 per cent YoY to a record high of Rs 16,810 crore (from Rs 15,003 crore in Q1 FY24), and EBITDA grew 11 per cent to Rs 3,350 crore in the reported quarter (from Rs 3,005 crore in Q1 FY24). EBITDA refers to earnings before interest, taxes, depreciation, and amortization. "All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum," said Praveer Sinha, CEO and Managing Director, Tata Power. He informed that the planned capex for this financial year is Rs 20,000 crore and the company is committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, hydropower projects in Bhutan, and opportunities to develop small modular nuclear reactors as the government policy evolves. The company has recorded a capex investment of Rs 4,000 crore in Q1FY25. It has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is Rs 15,500 crore. Tata Power is poised to garner 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Tata Power net profit up 31% to ₹1,189 crore in June quarter

<keyword id="19923700" type="General" weightage="20" keywordseo="tata-power" source="keywords">Tata Power</keyword> on Saturday said it has collaborated with the <keyword id="19905539" type="General" weightage="20" keywordseo="ayodhya-development-authority" source="keywords">Ayodhya Development Authority</keyword> (ADA) to deploy charging points in and around the city on crucial routes to accelerate the adoption of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (EVs). The initiative strategically links <keyword id="6354931" type="General" weightage="20" keywordseo="Ayodhya" source="Orion">Ayodhya</keyword> with major cities nearby through the establishment of EV charging points. These points are situated along routes such as Ayodhya to Lucknow via National Highway (NH) 27, Ayodhya to Raebareli via NH 330, Ayodhya to Prayagraj via NH 330, and Ayodhya to Gorakhpur via NH 27, said the company. "These stations epitomise innovation and environmental stewardship and set the pace for our nation's journey towards Net Zero emissions. Together, we're shaping a sustainable tomorrow that benefits us all," said <keyword id="20372997" type="General" weightage="20" keywordseo="deepesh-nanda" source="keywords">Deepesh Nanda</keyword>, CEO and Managing Director, <keyword id="20372998" type="General" weightage="20" keywordseo="tata-power-renewable-energy-limited" source="keywords">Tata Power Renewable Energy Limited</keyword>. With more than 80,000 home chargers, 5,300+ public, semi-public and fleet charging points, and more than 850 bus charging stations, Tata Power said it is at the forefront of driving the transition towards environment-friendly transportation. "These charging points not only enhance our city's infrastructure but also herald a new era of eco-consciousness and progress," said Gaurav Dayal, Commissioner of Ayodhya. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-pro-to-launch-in-india-on-april-3-everything-we-know-so-far/articleshow/108667275.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-pro-to-launch-in-india-on-april-3-everything-we-know-so-far/articleshow/108667275.cms" target="_blank">Motorola Edge 50 Pro to launch in India on April 3 – Everything we know so far</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a>

Tata Power deploys EV charging points on key routes to Ayodhya

<ul><li><keyword id="20058929" type="General" weightage="100" keywordseo="Indian-Energy-Exchange" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Energy Exchange" meta.hostid="261" meta.entityid="Indian Energy Exchange">Indian Energy Exchange</keyword> recorded a 24% year-on-year growth in monthly volume in September 2024.</li><li>The electricity volume, including <keyword id="22675612" type="General" weightage="20" keywordseo="green-electricity" source="keywords">green electricity</keyword>, reached 10,332 MU.</li><li>India's <keyword id="20028292" type="General" weightage="20" keywordseo="energy-consumption" source="keywords">energy consumption</keyword> remained relatively stable at 141.3 billion units (BUs) in September 2024.</li></ul>Indian Energy Exchange (IEX), India's leading electricity exchange, experienced significant growth in September 2024 with a record monthly volume of 11,370 MU, representing a 24% year-on-year (YoY) growth. Electricity volume, including green electricity, reached 10,332 MU, reflecting a 21% YoY increase, while <keyword id="21681994" type="General" weightage="20" keywordseo="renewable-energy-certificates" source="keywords">renewable energy certificates</keyword> (RECs) doubled to 1,031 MU compared to the same period last year. The REC market witnessed a historic low price of ₹110 per certificate during a trading session, offering a favourable opportunity for obligated entities to meet their renewable purchase obligations and for voluntary customers to achieve sustainability goals. India's energy consumption remained relatively stable at 141.3 billion units (BUs) in September 2024, according to government data. A steady monsoon boosted hydro and wind power generation, leading to reduced prices in the Day-Ahead Market (DAM) and Real-Time Market (RTM). The Day-Ahead Market (DAM) witnessed robust growth, with volumes increasing 33% YoY to 4,610 MU in September 2024. Over the quarter, DAM registered 14,332 MU, a 27% increase compared to Q2FY24. Real-Time <keyword id="22699214" type="General" weightage="20" keywordseo="electricity-market" source="keywords">Electricity Market</keyword> (RTM) achieved its highest-ever monthly volume of 3,913 MU, a 34% YoY rise. RTM's quarterly volume reached 10,732 MU, up 31% YoY. In contrast, the Day-Ahead Contingency and Term-Ahead Market (TAM) experienced a decline, trading 1,086 MU in September 2024 and 2,684 MU during Q2FY25, down by 43% and 42% YoY, respectively. IEX's Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), recorded an extraordinary 214% YoY increase, trading 723 MU in September 2024. The quarterly total for the Green Market stood at 2,584 MU, a massive 246% YoY growth. The REC market achieved a milestone with 1,031 MU traded in September 2024, a 100% YoY increase. The clearing prices for the two trading sessions on 11th and 25th September were ₹112/REC and ₹110/REC, respectively, the lowest-ever price since the market's inception. The quarterly total volume reached 6,297 MU, a remarkable 353% YoY growth. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a>

Indian Energy Exchange records 24% growth in September 2024

<keyword id="19895436" type="General" weightage="20" keywordseo="Adani-Green-Energy-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Green Energy Ltd" meta.hostid="261" meta.entityid="Adani Green Energy Ltd">Adani Green Energy Ltd</keyword> (AGEL) on Friday posted a 38.85 per cent decline in consolidated net profit to Rs 310 crore for the March quarter, mainly on account of increased expenses. Its net profit was Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing. During the fourth quarter of FY24, the company's total income fell to Rs 2,806 crore from Rs 2,977 crore a year ago. The company's expenses surged to Rs 2,379 crore during the period under review, as against Rs 2,053 crore in the year-ago period. In a separate statement, the company said its operational capacity grew at 35 per cent year-on-year to 10,934 MW with greenfield addition of 2,848 MW renewable capacity, including 2,418 MW solar and 430 MW wind projects. With this, AGEL became the first company in India to cross the 10,000 MW <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity. AGEL's 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually. The sale of energy increased 47 per cent year-on-year to 21,806 million units in FY24, primarily backed by strong capacity addition, consistent solar CUF (capacity utilisation factor) and improved wind and hybrid CUF. The revenue from power supply rose 23 per cent to Rs 1,575 crore from Rs 1,941 crore earlier. <keyword id="19919864" type="General" weightage="20" keywordseo="Adani-Green-Energy" source="keywords">Adani Green Energy</keyword> Ltd Chief Executive Officer Amit Singh said, "We have deployed the first 2 GW of the 30 GW of renewable capacity under construction at Khavda in just 12 months of breaking ground. "Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum." The company aims to commission at least 5 GW of hydro-pumped storage projects by 2030, and set a higher target of 50 GW RE capacity by 2030, which will contribute towards India's non-fossil fuel capacity target of 500 GW, he said. AGEL further said it has commenced construction work on its first hydro pumped storage project (PSP) of 500 MW on the Chitravathi river. The project is located at Peddakotla in Sri Sathya Sai district of Andhra Pradesh. The existing reservoir will act as the lower reservoir and the upper reservoir is to be developed. The generation capacity will be 500 MW with estimated 6.2 generation hours in a day. All necessary approvals, including the final DPR approval are in place and financial closure has been achieved for the project. Part of Adani Group, AGEL is India's largest and one of the leading renewable energy companies in the world enabling clean energy transition. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a><a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank">T20 World Cup: Here are the squads announced by major participating countries so far</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a>

Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses

<keyword id="19950696" type="General" weightage="20" keywordseo="JSW-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Energy" meta.hostid="261" meta.entityid="JSW Energy">JSW Energy</keyword> on Thursday said its arm received a letter of award from Solar Energy Corporation of India (<keyword id="19967266" type="General" weightage="20" keywordseo="SECI" source="keywords" meta.keywordsubtype="org" meta.entityname="SECI" meta.hostid="261" meta.entityid="SECI">SECI</keyword>) for supply of <keyword id="22714846" type="General" weightage="20" keywordseo="230-MW" source="keywords">230 MW</keyword> of power from its <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> project. The energy supply order has been secured by wholly-owned subsidiary JSW Neo Energy Limited, JSW Energy said, adding that the company received the letter of award following a tariff-based competitive bidding process. Bids were invited for supply of 630 MW of firm and dispatchable power from an inter state transmission system or ISTS-connected renewable energy project SECI-FDRE-IV, JSW Energy said in an exchange filing. With the latest <keyword id="19895601" type="General" weightage="20" keywordseo="contract" source="keywords">contract</keyword>, the company's total locked-in generation capacity has increased to 16.4 GW, which includes a hybrid capacity of 2.3 GW, including FDRE (firm and dispatchable renewable energy). The company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. SEE ALSO:<a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a><a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-mpc-meet-cheque-clearing-time-reduced-upi-limit-increased-for-tax-payment/articleshow/112366099.cms" target="_blank">RBI MPC meet – Cheque clearing time reduced, UPI limit increased for tax payment</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

JSW Energy gets contract from SECI for supply of 230 MW renewable energy

<ul><li>As a part of the tie-up, MSMEs who are <keyword id="45008" type="General" weightage="100" keywordseo="tata-power" source="Orion">Tata Power</keyword> customers can avail loans up to ₹8 crore, with nil or minimum collateral. </li><li>The scheme requires a minimum down payment of only 15-20% of project cost, says <keyword id="51925" type="General" weightage="80" keywordseo="union-bank" source="Orion">Union Bank</keyword>. </li><li>This tie-up is a part of <keyword id="72269" type="General" weightage="50" keywordseo="ubi" source="Orion">UBI</keyword>’s solar scheme called <keyword id="15535191" type="General" weightage="50" keywordseo="union-solar" source="Orion">Union Solar</keyword>.</li></ul>Indian public sector bank <keyword id="63524" type="General" weightage="50" keywordseo="union-bank-of-india" source="Orion">Union Bank of India</keyword> has tied up with <keyword id="12146018" type="General" weightage="50" keywordseo="tata-power-solar" source="Orion">Tata Power Solar</keyword> Systems, a subsidiary of Tata Power Renewable Energy, to help the micro, small and medium enterprises (MSME) set up rooftop mounted solar units through a term loan. MSME industries who are Tata Power customers can avail loans up to ₹8 crore with nil or minimum collateral. The objective of this collaboration is to improve access to green energy, and help MSMEs save on electricity costs. “The scheme also requires a minimum down payment of only 15-20% of project cost thus making it very attractive for MSMEs,” informs Union Bank. This is a part of the bank’s solar scheme called 'Union Solar' which was launched at a pan-India level, to relieve the MSMEs from the stress of higher power costs and grid exigencies. “We are happy to associate with Tata Power in our efforts to help small businesses improve their access to green energy through the solar solution that is reliable, affordable and self-paying in the long run. We expect to see an impressive growth in the use of solar power in the MSME sector that will also make them more competitive in the domestic and international markets,” C M Minocha, chief general manager, Union Bank of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> said. MSMEs can avail the dual services of Solar EPC by Tata Power Solar, financed through term loan facility by Union Bank of India. "In the last few years, the Indian MSME industry is experiencing a behavioural shift towards green energy solutions. We are committed to make TPREL a one-stop solution for the solar rooftop industry,” said <keyword id="14983947" type="General" weightage="50" keywordseo="shivram-bikkina" source="Orion">Shivram Bikkina</keyword>, chief- rooftop, Tata Power Renewable Energy. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paytm-shares-tank-over-9-as-4-5-of-its-equity-changes-hands/articleshow/95574534.cms">Paytm shares tank over 9% as 4.5% of its equity changes hands</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pakistans-default-risk-soars-amid-political-turmoil-says-a-dawn-news-report/articleshow/95574205.cms">Pakistan's default risk soars amid political turmoil says a Dawn news report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mumbai-based-ev-startup-launched-a-two-seater-electric-car-with-no-front-passenger-seat/slidelist/95572118.cms">Mumbai-based EV startup launched a two-seater electric car with no front passenger seat</a>

Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar

Movie theatre chain <keyword id="6358378" type="General" weightage="80" keywordseo="amc" source="Orion">AMC</keyword> has announced to accept cryptocurrencies to buy tickets and snacks along with concessions using Dogecoin and Shiba Inu digital coins. The company's CEO <keyword id="842244" type="General" weightage="50" keywordseo="adam-aron" source="Orion">Adam Aron</keyword> announced via Twitter that the movie theater chain has integrated support for the cryptocurrencies through a Bitpay integration. "The AMC mobile app for AMC's U.S. theatres now accepts online payments using Dogecoin, Shiba Inu, and other crypto currencies -- thanks to Bitpay," Aron tweeted. "Also Apple Pay, Google Pay and Paypal. To do so, you first will need to update to the latest version of our app," he added. The process is simple. Select the seats, add concessions and click on Bitpay as your payment method. According to The Verge, Bitpay also supports cryptocurrencies like Bitcoin and Ethereum. However, AMC last year allowed people to buy movie tickets with Bitcoin, Ethereum, <keyword id="4835430" type="General" weightage="80" keywordseo="bitcoin-cash" source="Orion">Bitcoin Cash</keyword> and Litecoin. "As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please� Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions!," Aron had tweeted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-power-renewable-raises-4000-crore-shares-down-over-5-on-profit-booking/articleshow/90910230.cms">Tata Power Renewable raises ₹4,000 crore; shares down over 5% on profit booking</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomato-and-swiggy-are-now-backing-restaurant-management-company-urbanpiper/articleshow/90908052.cms">Zomato and Swiggy invest in this restaurant management company that fulfils 2 in 10 food deliveries in India</a>

Movie theatre chain AMC to accept Dogecoin payments for tickets and snacks

Leading <keyword id="6732896" type="General" weightage="100" keywordseo="renew" source="Orion">renew</keyword>able energy company ReNew Energy Global has posted a net loss of Rs 986 million for the quarter ended September 2022 (Q2 FY23), against Rs 6,614 million loss in the year-ago period (Q2 FY22). The company said it managed to narrow its loss due to higher revenues. The company's total income (or total revenue) for Q2 FY23 was Rs 22,409 million, an increase of 5.1 per cent over Q2 FY22. The company in a statement said its adjusted operating profit or earnings before interest, taxes, depreciation, and amortisation (Ebitda) for Q2 FY23 was Rs 18,209 million, an increase of 0.1 per cent over Q2 FY22. Cash Flow to equity for the quarter under review was Rs 7,125 million, an increase of 4.7 per cent over Q2 FY22. Days Sales Outstanding ended Q2 FY23 at 231 days, which is a 41-day improvement year-on-year and the company increased its cash by Rs 4,881 million through a reduction in accounts receivables during the quarter. The Gurgaon-headquartered company said $ 300 million in green bonds were redeemed during Q2 FY23. As of September 30, 2022, 50 per cent of total outstanding debt is local currency borrowing. A green bond is a type of debt security created for funding or re-funding projects contributing positively to the climate and/or ecosystem. As of September 30, 2022, the Company's portfolio consisted of 13.4 GWs, a 30.8 per cent increase year on year. Approximately 1 GW of purchase power agreements was signed in the quarter, the renewable energy company said. <keyword id="161716" type="General" weightage="50" keywordseo="sumant-sinha" source="Orion">Sumant Sinha</keyword>, Chairman and CEO, ReNew, said "ReNew continues to lead the energy transition in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> and during the quarter, we signed 1 GW of purchase power agreements as a preferred partner for carbon-mitigation solutions. We have furthered our investments in capacity and our technology and analytics capabilities through acquiring shares of 3E, a leading SaaS solutions company in renewable energy and a new partnership with <keyword id="5283165" type="General" weightage="50" keywordseo="norfund" source="Orion">Norfund</keyword> and KLP," and added that the core operations of the company continue to execute as expected this year and our continued access to affordable capital is enabling the company to capitalise on significant growth opportunities. ReNew also said it entered into a partnership with Norfund, the Norwegian government's investment fund for developing countries, and KLP, Norway's largest pension company, to co-invest in ReNew's transmission projects. ReNew signed definitive documents to acquire shares in 3E, a software as a service (SaaS) solutions company offering asset performance management and analytics for renewable energy assets. <keyword id="944686" type="General" weightage="50" keywordseo="renew-power" source="Orion">ReNew Power</keyword> is one of India's leading renewable energy companies. Based in Gurugram, Haryana, it has an asset base of over 10 GW, with around 5 GW operational. ReNew Power operates over 110 projects across 18 states in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pakistans-default-risk-soars-amid-political-turmoil-says-a-dawn-news-report/articleshow/95574205.cms">Pakistan's default risk soars amid political turmoil says a Dawn news report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/union-bank-tata-power-renewable-join-hands-to-help-msmes-switch-to-solar/articleshow/95575042.cms">Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar</a>

ReNew Energy's Q2 loss narrows to ₹986 million

<ul><li>Several media reports had claimed that the listed <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> is looking to separately list its renewable energy business.</li><li>As per reports, Tata Power is looking to raise $473 million through the said IPO.</li><li>However, in a regulatory filing on Monday morning, the company denied the same.</li></ul>Tata Power, a listed subsidiary of the <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword>, has denied news reports of an initial public offering (IPO) of its renewable energy business. Over the weekend, several <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/tata-power-mulling-473-million-renewable-energy-unit-ipo/articleshow/82330525.cms">media reports</a> had claimed that the listed Tata Power is looking to separately list its renewable energy business. As per the reports, Tata Power is looking to raise $473 million through the said IPO. However, in a regulatory filing on Monday morning, the company denied the same. “It may be noted that such reports are speculative in nature and the Company has taken no such decision. In the course of the business, the Company evaluates various business options. As and when a decision is taken, the same shall be communicated to the Stock Exchanges as per regulations,” said the company’s statement. The shares of the company fell marginally on Monday morning after its clarification. The shares were trading at ₹98.25 at 10.30 a.m. Earlier, <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-power-tanks-11-on-invit-deal-falling-through/articleshow/82038396.cms">Tata Power</a> was set to raise $2 billion from Malaysian oil giant Petronas, however the plan didn’t go through. Tata Power is one of the leading energy companies in the country and has a total capacity of 12.8 Gigawatts – the third largest in the country. The reports for an IPO of its renewable energy business comes at a time when another leading renewables business <keyword id="944686" type="COMPANY" weightage="20" keywordseo="renew-power">ReNew Power</keyword> has announced its market debut plans. The Sumant Sinha-led company is headed for a US stock market debut through a special purpose acquisition company (SPAC), and aims for a $8 billion valuation. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-earnings-disappoints-markets-stocks-fall-by-over-2-in-morning-trade/articleshow/82364515.cms">Reliance Industries’ earnings disappoint markets – stocks fall by over 2% in morning trade</a>

Tata Power says it has made ‘no such decision’ on an IPO for its renewable energy business

AdGreen Energy (<keyword id="4621631" type="General" weightage="80" keywordseo="agel" source="Orion">AGEL</keyword>), the renewables arm of the Adani Group, on Friday announced that its fourth wind-solar hybrid power plant at Jaisalmer in Rajasthan is fully operational and the asset has been capitalised. The combined operational generation capacity of this newly added hybrid power plant is 700 MW and has a power purchase agreement (PPA) at Rs 3.24/kwh for 25 years, according to a statement from the firm released on Friday. This new hybrid power plant consists of a combination of 600 MW solar and 510 MW wind plants. The company said its latest hybrid plant deploys advanced renewable technologies like bifacial solar PV modules and horizontal single-axis trackers (HSAT) systems to enable maximum electricity generation from solar energy. A bifacial panel can generate power from both sides, boosting overall electricity production. The plant is co-located and is designed to deliver capacity utilisation factor (CUF) of minimum 50 per cent, the highest CUF of any renewable project in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. The firm said the plant harnesses the potential of renewable energy by resolving intermittency of the generation and provides a more reliable solution to meet the rising power demand. With this, AGEL's operating wind-solar hybrid portfolio has now reached 2,140 MW, continuing to be the largest in the world, according to the company statement. With the successful operationalisation of the 700 MW plant, the world's largest wind-solar hybrid power plant, AGEL now has the largest operating renewable portfolio in India with 8,024 MW, <keyword id="4343578" type="General" weightage="100" keywordseo="adani-green" source="Orion">Adani Green</keyword> said on Friday. The plant is housed under AGEL's 100 per cent subsidiary -- Adani Hybrid Energy Jaisalmer Four Limited. "Earlier in May 2022, AGEL had operationalised India's first hybrid power plant of 390 MW," Adani Green said in the statement, adding that this was followed by the commissioning of the world's largest co-located hybrid power plant of 600 MW in September 2022 and the third hybrid power plant of 450 MW in December 2022. "All three of these hybrid energy generation assets are located in Jaisalmer, Rajasthan." Adani Green Energy (AGEL) has one of the largest global renewable portfolios with the overall portfolio of 20.4 GW including operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Key customers of AGEL include <keyword id="1937268" type="General" weightage="50" keywordseo="solar-energy-corporation-of-india" source="Orion">Solar Energy Corporation of India</keyword> (SECI), National Thermal Power Corporation (NTPC) and various State Discoms. AGEL, a renewable energy generation company, which was listed in 2018, is helping India meet its COP26 goals. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/revealed-first-glimpse-of-indias-c-295-aircraft-that-airbus-and-tatas-will-co-produce/articleshow/98384456.cms">Revealed: First glimpse of India's C-295 aircraft that Airbus and Tatas will co-produce</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal: group marketcap surges by ₹73,000 crore</a>

Adani Green says its operating renewable portfolio reaches 8,024 MW, largest in India

<keyword id="45008" type="DOMAIN" weightage="20" keywordseo="tata-power" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata power" meta.entityname="Tata Power Company Ltd." meta.entityid="12918" meta.seoname="tata-power-company-ltd">Tata Power</keyword> on Friday announced its plans to develop around 10,000 MW of renewable energy capacity, mainly solar energy, in the next five years in <keyword id="6355588" type="General" weightage="80" keywordseo="rajasthan" source="Orion">Rajasthan</keyword>. "Tata Power plans to have a renewable power portfolio of 10,000 MW in the state of Rajasthan in the next five years," a company statement said. Participating in the ongoing Invest Rajasthan summit in Jaipur, it stated that it plans to develop up to 8,000 MW of utility-scale projects, 1,000 MW of solar rooftops and 1,50,000 solar pumps in the next five years in the state. Tata Power, along with its fully-owned subsidiary <keyword id="12146018" type="General" weightage="50" keywordseo="tata-power-solar" source="Orion">Tata Power Solar</keyword>, will expand its presence in the state to generate clean energy through solar power. The company employs more than 4,500 people in the state, and its expansion projects will generate employment for more than 6,000-8,000 people in the next five years. Dr Praveer Sinha, CEO &amp; MD of Tata Power, said in the statement, "Both in terms of potential and what has been done so far, Rajasthan has today emerged as a role model to produce green energy through solar power. I am happy to be here in Invest Rajasthan summit. With its already strong footprint in the state, Tata Power is fully poised to make Rajasthan future-ready and realise its full potential and emerge as a green powerhouse of the country. We will continue to build on all three businesses -- <keyword id="129822" type="General" weightage="50" keywordseo="epc" source="Orion">EPC</keyword>, solar pump and solar rooftop -- to the benefit of farmers, industries and common citizens of this frontier state." Rajasthan is an important state for Tata Power's renewable business. It presently has a portfolio of 4,939 MWp. To date, Tata Power has commissioned 2,066 MW in Rajasthan and around 2,873 MW capacity of solar projects are under construction, which will be completed in the next 12-24 months. TP Ajmer Distribution Ltd, a unit of Tata Power, has completed 5 years of operations and has enhanced the consumer experience in Ajmer. Tata Power has ensured safe and reliable supply in Ajmer and also achieved AT&amp;C (Aggregate Technical and Commercial) loss reduction from 22 per cent to 9 per cent. With the support and favourable policies of the government of Rajasthan, the company is looking forward to opportunities for power distribution in various other cities of the state under the collaborative <keyword id="113605" type="General" weightage="50" keywordseo="public-private-partnership" source="Orion">Public Private Partnership</keyword> (PPP) model and to serve the citizens of Rajasthan with quality power supply. With respect to solar pumps, Tata Power plans to set up around 1,50,000 pumps in the next five years in the state. The company has so far installed nearly 21,600 solar pumps in Jaipur, Hanumangarh, Ganganagar, Jalore and Bikaner. Tata Power through its rooftop services has a cumulative installed capacity of 65 MW in Rajasthan. The company has been doing extensive work for industrial belts like marble, granite and stone crushing etc in Rajasthan located in regions like Ajmer, Sirohi, Rajsamand, Jalore and Makrana. Through its various rooftop offerings, Tata Power has installed over 20 MW of rooftops for these industries. These installations have resulted in cumulative savings of about Rs 20 crore per annum for customers. Tata Power is also working towards setting up a robust EV charging infrastructure in the state to enable the faster transition towards electric mobility. The company has installed over 1,100 home chargers and 100 public chargers in Rajasthan. In the next few years, Tata Power plans to install 10,000 public EV charging points in the state. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/looking-to-invest-in-ipos-heres-how-to-pick-winners-and-spot-the-duds/articleshow/94704252.cms">Looking to invest in IPOs? Here’s how to pick winners and spot the duds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/flipkart-group-leads-e-commerce-festive-sales-meesho-is-second-largest-contributor-in-order-volume-redseer/articleshow/94701015.cms">Flipkart group leads e-commerce festive sales, Meesho is second largest contributor in order volume: Redseer</a>

Tata Power mulls 10,000 MW clean energy capacity in next five years in Rajasthan

<keyword id="45008" type="General" weightage="80" keywordseo="tata-power" source="Orion">Tata Power</keyword> CEO and MD Praveer <keyword id="6358012" type="General" weightage="80" keywordseo="sinha" source="Orion">Sinha</keyword> announced a Rs 6,000 crore capital investment by the company in <keyword id="6357961" type="General" weightage="100" keywordseo="odisha" source="Orion">Odisha</keyword>. Speaking at the Make in Odisha Conclave here on Thursday, Sinha said the four power discoms of Odisha, where Tata Power has a majority stake, are committed to Rs 6,000 crore capex investment in the next five years. Sinha said the company will also set up 1,000 electric vehicle (EV) charging points, 1,00,000 solar pumps, microgrids, rooftop and floating <keyword id="6453229" type="General" weightage="20" keywordseo="solar-plants" source="Orion">solar plants</keyword> in the next five years. He welcomed the Odisha government's Renewable Energy Policy 2022 unveiled at the Make In Odisha Conclave here. The Tata Power CEO said the company has been engaged in power distribution across Odisha and is committed to ensure ease-of-doing business through quality power supply. "Tata Power is committed to ensure 'Udyog Ru Pragati' (progress through entrepreneurship) by offering high-quality and affordable power supply to enable a conducive environment for industrial development. Our clean and green energy products and solutions in e-mobility, decentralised generation, agriculture, and demand side management will further ensure an all-round sustainable development of the state," Sinha said. He said Tata Power is also working with Bhubaneswar Smart City Limited (BSCL) in deploying charging infrastructure at multi-level car parking lots and public utilities like hospitals, universities, malls, and at important city hubs. The company is also in early stages to explore the development of green hydrogen hubs in the Paradeep region to meet industrial demands, he said, adding that Tata Power is also working towards the solarization of the agriculture sector in association with the state government. The company has already installed over 700 solar pumps in addition to 1,200 dual pump for community drinking application across the state. It has planned to install 30,000 solar pumps over the next five years, he said. Welcoming the state's new Renewable Energy Policy 2022, Sinha said the incentives provisions like electricity duty waiver, wheeling charge waiver, cross subsidy surcharge waiver, state transmission utility charge waiver are very encouraging. He said Tata Power is working towards the electrification of remote villages by setting up microgrids. A technical feasibility study has been carried out in several villages in the Mayurbhanj District to set up microgrids for transformation of the rural/ tribal economy.

You Searched For "Tata Power Renewable" and got 13 results

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