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<ul class="summary-list"><li>TSMC has high power usage, and Taiwan's tight electricity supply will test its chip production.</li><li>Taiwan's sluggish electricity growth challenges the semiconductor industry's expansion.</li></ul>Taiwan's "sluggish growth" in its electricity supply will test the growth of <a target="_blank" href="https://businessinsider.com/tsmc-power-players-14-execs-leading-worlds-biggest-chipmaker-2024-9">TSMC, </a>the world's largest chipmaker, and also the <a target="_blank" href="https://www.businessinsider.com/chip-production-water-usage-tsmc-intel-2024-7">power-intensive</a> semiconductor industry's growth, according to a <a target="_blank" href="https://secure.signin.spglobal.com/oauth2/spglobal/v1/authorize?client_id=RTG_SPCOM_OIDC_SPA&amp;code_challenge=Bk9S7_SJyYqEOCxkOUBuTe2iWcW4uHfctng17EuplSU&amp;code_challenge_method=S256&amp;display=en&amp;nonce=dIYSe8rQGnsDHPvuatV7nJrZ2jty8y6ntny24ZnH4nCb2GKYIcvfr24OY6xPNxHc&amp;redirect_uri=https%3A%2F%2Fdisclosure.spglobal.com%2Fcallback&amp;response_type=code&amp;state=RznxF7r7DKgOtqv7T24s5fz1HXCswZMYPiH6GZ9RUlLjAknXngvBgS6KN7iYHE9P&amp;scope=openid%20email%20profile%20offline_access%20rtg_spcom%20ratings">new S&amp;P Global report</a> released last week.For the past four years, TSMC's total energy usage has grown 10%-20% annually due to its production scale and technology usage, and it's expected to surge this year, the analysts said. Compared to other chipmakers, TSMC's electricity consumption far outpaces its peers, such as Micron and <a target="_blank" class="" href="https://www.businessinsider.com/intel-struggles-qualcomm-deal-chip-industry-turmoil-2024-9">Intel</a>, consuming more than <a target="_blank" class="" href="https://esg.tsmc.com/en-US/file/public/e-all_2023.pdf">24 billion kilowatt-hours in 2023</a>—almost equivalent to the entire city of <a target="_blank" class="" href="https://finance.yahoo.com/news/25-cities-highest-electricity-consumption-104528985.html">Phoenix</a>.The surge in energy consumption last year is likely due to the increase in 3nm semiconductor production, the analysts said.To develop cutting-edge chips at 7 nanometers or below, TSMC uses processes such as <a target="_blank" href="https://www.bloomberg.com/news/articles/2022-08-25/energy-efficient-computer-chips-need-lots-of-power-to-make">EUV</a> or extreme ultraviolet lithography systems, which consume much more energy since making the chips smaller will require more energy-intensive manufacturing methods.TSMC consumes more than 8% of Taiwan's total electricity, and the report said that demand could triple by 2030. Taiwan's unique challenges could also create further ripples due to its limited available land for solar panels and its dependence on imported fossil fuels. This makes both citizens and chipmakers vulnerable to <a target="_blank" class="" href="https://www.ctee.com.tw/news/20240417700097-430104">power outages</a> from natural disasters that strain the electricity grid.In 2021, TSMC announced a commitment to reach net zero emissions <a target="_blank" href="https://pr.tsmc.com/english/news/2865">by 2050</a> through a <a target="_blank" href="https://esg.tsmc.com/file/public/2023-TCNFDReport-e.pdf">combination</a> of renewable energy certificates and power purchase agreements. Last year, the company pushed forward its deadline for 100% renewable energy consumption <a target="_blank" href="https://pr.tsmc.com/english/news/3067">to 2040</a> and upgraded to more efficient power transformers used for transferring electricity.Adding renewable energy supplies would help alleviate this problem, although the island's geography makes it difficult to increase solar and wind power sources. Local power providers have faced <a target="_blank" href="https://www.digitimes.com/news/a20240724PD214/taiwan-offshore-wind-supply-chain-market-government.html">procurement </a>regulation changes, <a target="_blank" class="" href="https://www.bloomberg.com/opinion/articles/2024-04-16/taiwan-s-wind-power-ambitions-are-in-peril">slowing down</a> the growth of offshore wind power.TSMC's risks will be controllable over the next three to four years since the company actively manages its power supply's stability, the analysts said. Still, the <a target="_blank" class="" href="https://www.businessinsider.com/ai-value-estimate-20-trillion-tech-wave">AI boom</a> will not slow down electricity demand anytime soon.

The world's largest chipmaker TSMC is about to be tested as it uses more and more power

<ul class="summary-list"><li>A rare bee species reportedly threw a wrench in Meta's plans for an AI data center.</li><li>Meta planned to build a facility to run on nuclear power, but the bees complicated matters, FT said.</li></ul>In <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-happy-spending-big-ai-2024-10">the race to build out AI infrastructure</a>, Meta met an unlikely roadblock in one case: bees.A rare species of the insect threw a wrench in the company's plans for an AI data center, <a target="_blank" class="" href="https://www.ft.com/content/ed602e09-6c40-4979-aff9-7453ee28406a">the Financial Times</a> reported Monday.Meta had been in talks with a nuclear power plant operator for a US data center to support <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-meta-nvidia-h100-chip-cluster-llama-4-2024-10">the company's AI work</a>, per the FT. However, Meta CEO Mark Zuckerberg said in an all-hands gathering that the discovery of the bee species at a location next to the planned plant was partly responsible for upending the plans, the FT reported, citing two people familiar with the meeting.Regulatory challenges were also a factor, according to the FT. The newspaper didn't name the power plant operator or say where the site was set to be. <a target="_blank" class="" href="https://www.businessinsider.com/meta-stock-earnings-report-call-live-updates-2024-10">Meta said in its latest earnings report</a> that it expects "a significant acceleration in infrastructure expense growth next year" and "significant capital expenditures growth in 2025," owing in no small part to its work on AI.Meta isn't the only tech giant spending big on infrastructure for its AI ambitions. Rivals, including Google, Amazon, and Microsoft, also invest billions in data centers to power their AI. <a target="_blank" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">Last</a><a target="_blank" class="" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10"> month, Google announced a partnership to buy nuclear energy</a> from small modular reactors to be built by Kairos Power, making it the first tech giant to broker a deal for new nuclear power plants.Amazon plans to spend about $150 billion on data centers by 2040, Bloomberg <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-03-28/amazon-bets-150-billion-on-data-centers-required-for-ai-boom?embedded-checkout=true">reported</a> in March. <a target="_blank" class="" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">The company could roll out as many as 240 new data centers by 2040</a>, Marc Wulfraat, the president of the consulting firm MWPVL, previously told BI, citing the massive square footage at the company's disposal by way of its leasing space in buildings shared with other firms.In September, Microsoft signed a 20-year power purchase agreement with energy company Constellation in a deal that would <a target="_blank" class="" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">bring back online part of Three Mile Island</a>, the site of the US's worst nuclear energy accident.The boom in data centers to power AI also comes with <a target="_blank" class="" href="https://www.businessinsider.com/chatgpt-generative-ai-environment-climate-change-global-emissions-2023-9">high costs environmentally</a>, not just financially. In the US, data centers are expected to reach 35 gigawatts of power consumption annually by 2040, up from 17 gigawatts in 2022, according to a <a target="_blank" rel="noopener nofollow" href="https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/investing-in-the-rising-data-center-economy">McKinsey analysis</a>.Meta did not immediately respond to Business Insider's request for comment.

A rare bee species reportedly put an end to Meta's plans for a nuclear-powered AI data center

New Delhi, March 16 (IANS) <keyword id="53904" type="General" weightage="80" keywordseo="torrent-power-limited" source="Orion">Torrent Power Limited</keyword> has entered into a <keyword id="1588586" type="General" weightage="20" keywordseo="share-purchase-agreement" source="Orion">Share Purchase Agreement</keyword> (SPA) and Shareholders Agreement (SHA) with Administrator of the Union Territory of <keyword id="382155" type="General" weightage="80" keywordseo="dadra" source="Orion">Dadra</keyword> and <keyword id="286467" type="General" weightage="80" keywordseo="nagar-haveli" source="Orion">Nagar Haveli</keyword> and <keyword id="6392149" type="General" weightage="80" keywordseo="daman" source="Orion">Daman</keyword> and Diu (Holding Entity) and Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Limited (the SPV) for purchase of 51 per cent Equity Share Capital of the SPV from the Holding Entity. The SPV will be responsible for distribution and retail supply of electricity and holds distribution licenses in the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH &amp; DD). This acquisition will significantly strengthen <keyword id="86156" type="General" weightage="100" keywordseo="torrent" source="Orion">Torrent</keyword>'s position as the leading Power Distribution Company in the country with a presence in 12 cities spread across 3 States and 1 Union Territory. With the addition of DNH &amp; DD, Torrent will distribute nearly 24 billion units of electricity per annum to over 3.85 million customers and cater a peak demand of over 5,000 MW. Earlier, Torrent Power Limited has, pursuant to Share Purchase Agreement between Torrent Power Limited and CESC Limited, Haldia Energy Limited alongwith nominal shareholders and Surya Vidyut Limited (SPV), completed transaction of acquisition of 100 per cent Equity Share Capital of Surya Vidyut Limited (SPV), wholly owned subsidiary of CESC Limited. Surya Vidyut operates 156 MW Wind power plants (the Projects), spread across the states of Gujarat, Rajasthan and Madhya Pradesh. Long-term Power Purchase Agreements (PPAs) for the Projects are with respective State Discoms for a period of 25 years, with weighted average PPA tariff of Rs 4.68/ kWh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/news/punjab-congress-chief-sidhu-quits-with-a-one-line-resignation/articleshow/90256050.cms">Punjab Congress chief Sidhu quits with a one-line resignation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/sensex-nifty-up-over-1-each-indusind-bank-axis-bank-bajaj-finance-grasim-industries-and-bajaj-finserv-among-top-gainers/articleshow/90253570.cms">Sensex, Nifty up over 1% each; IndusInd Bank, Axis Bank, Bajaj Finance, Grasim Industries and Bajaj Finserv among top gainers</a>

Torrent Power to buy 51% stake in Dadra and Nagar Haveli, Daman and Diu Power discom

<keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Ltd (AGEL), the worlds largest solar power developer and the renewable energy arm of the diversified <keyword id="76451" type="General" weightage="20" keywordseo="adani" source="Orion">Adani</keyword> Group, has signed an agreement with the Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power. This is the worlds largest ever <keyword id="12733047" type="General" weightage="20" keywordseo="green-power-purchase-agreement-" source="Orion">green power purchase agreement.</keyword> "We are pleased to have signed the world's largest PPA with SECI," said Gautam Adani, Chairman of the Adani Group. "This is yet another step in our journey to enable India's dual objective to accelerate India's renewable energy footprint as well as promote domestic manufacturing under the Atmanirbhar Bharat programme. Following the proceedings at COP26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated. This is why the Adani Group has committed $50-$70 billion of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world's largest renewables player by 2030," he added. The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020, which set a record for being the world's largest solar development tender ever awarded. So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6000 MW of the 8,000 MW awarded in 2020. AGEL expects to close the balance 2000 MW PPA in the next two to three months. SEE ALSO <a href="https://www.businessinsider.in/retail/news/aditya-birla-fashion-will-now-sell-reebok-products-in-india-and-10-other-asian-countries/articleshow/88272443.cms" data-type="tilCustomLink">Aditya Birla Fashion will now sell Reebok products in India and 10 other Asian countries</a> <a href="https://www.businessinsider.in/business/startups/news/after-acquiring-scoopwhoop-good-glamm-group-buys-missmalini/articleshow/88268772.cms" data-type="tilCustomLink">After acquiring ScoopWhoop, Good Glamm Group buys MissMalini</a> <a href="https://www.businessinsider.in/stock-market/news/medplus-health-services-is-a-good-play-on-growing-e-commerce-pharmacy-space-say-analysts/articleshow/88265079.cms" data-type="tilCustomLink">MedPlus Health Services is a good play on growing e-commerce pharmacy space, say analysts; GMP at ₹300</a>

Adani signs world's largest green power purchase agreement with Solar Energy Corporation of India

<keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword> (AGEL) on Wednesday announced that it has signed a share purchase agreement for the acquisition of 100 per cent stake in two <keyword id="732527" type="ORGANIZATION" weightage="20" keywordseo="Special-Purpose-Vehicles">special purpose vehicles</keyword> (SPV) holding 74.94 MW operating solar projects of Sterling &amp; Wilson, a Shapoorji Pallonji group company. The projects, commissioned in 2017, are located in <keyword id="464266" type="LOCATION" weightage="20" keywordseo="Medak-district">Medak District</keyword> of Telangana and have long-term <keyword id="788744" type="COMPANY" weightage="20" keywordseo="power-purchase-agreements">Power Purchase Agreements</keyword> (PPA) with the Southern Power Distribution Company of Telangana Limited. The enterprise valuation of the target SPV is Rs 446 crore. With this acquisition, AGEL will increase its operating renewable capacity to 3,470 MW with a total renewable portfolio of 15,240 MW, <keyword id="4343578" type="PERSON" weightage="20" keywordseo="Adani-Green">Adani Green</keyword> said in a statement. The closing of the transaction is subject to customary approvals and condition, it added. Vneet S. Jaain, MD &amp; CEO, <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Green Energy Ltd said: "Strengthening our portfolio through organic and inorganic growth opportunities is an integral part of the our vision to build a capacity of 25 GW by 2025 and become the largest renewables company in the world. We will leverage the strength of our platform and capital management philosophy to achieve operational improvements and value-accretive returns from the project." SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/peter-thiel-backed-vc-firm-valar-ventures-invests-in-indian-fintech-startup-velocity/articleshow/81663073.cms">Peter Thiel-backed VC firm Valar Ventures invests in Indian fintech startup Velocity</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% below the issue price</a> <a href="https://www.businessinsider.in/business/startups/news/inshorts-backed-social-networking-app-public-raises-300-crore-in-latest-funding/articleshow/81663873.cms">Inshorts-backed social networking app Public raises ₹300 crore in latest funding</a>

Adani Green boosts its renewable energy capacity with acquisition of 74.94 MW projects from Sterling & Wilson

<keyword id="4543956" type="PERSON" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword> (AGEL) on Saturday announced that it has signed a share purchase agreement for acquisition of 100 per cent stake in an SPV holding 50 MW operating solar project of the Toronto-headquartered SkyPower Global. The project is located in Telangana and was commissioned in October 2017 and has a long-term <keyword id="511035" type="COMPANY" weightage="20" keywordseo="power-purchase-agreement">Power Purchase Agreement</keyword> (PPA) with the Southern Power Distribution Company in the state. With this acquisition, AGEL shall increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The closing of the transaction is subject to customary approvals and conditions. Vneet S. Jaain, MD &amp; CEO, <keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword>, said: "Strengthening our portfolio through organic and inorganic growth opportunities is in integral part of the our vision to build a capacity of 25 GW by 2025 and become the largest renewables company in the world. We will leverage the strength of our platform and capital management philosophy to achieve operational improvements and value-accretive returns from the project." <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Green Energy Limited (AGEL) is part of <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, and has one of the largest global renewable portfolios with 14.9 GW of operating, under-construction and awarded projects catering to investment-grade counterparties. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/easemytrip-ipo-listing-price-at-13-5-premium/articleshow/81581828.cms">EaseMyTrip lists at 13.5% premium – but gives up some of the listing gains soon after</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-specs-oneplus-9e-specs-and-price-leak-and-oneplus-9-series-launch-date/articleshow/81168227.cms">OnePlus 9 series specifications and features leaked – here's everything we know about the upcoming OnePlus smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-review-of-moto-g10-power-mobile-phone-review-and-features-information/articleshow/81583548.cms">Moto G10 Power mobile review – big battery on a shoestring budget</a> <a href="https://www.businessinsider.in/stock-market/news/future-retail-shares-take-a-massive-hit-as-it-loses-the-case-against-amazon-in-delhi-high-court/articleshow/81583165.cms">Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court</a>

Adani Green Energy to acquire 50 MW Solar Asset from SkyPower Global

(Eds: Updating with additional details ) New Delhi, Jan 7 (PTI) Stopping purchase of petrol and diesel cars for its employees, entering into purchase agreements with only renewable power providers, setting up over 100 e-charging stations in its area, common payment portal for all its services and smart bus queue shelters, are among the proposals announced by the New Delhi Municipal Council in its budget for 2022-23. Announcing its ambitious plans of shifting to a 100 per cent renewable energy municipal body of the country, the New Delhi Municipal Council (NDMC) has not renewed its power purchase agreement with thermal power generating stations after its expiry. The civic body has also announced that it is taking up fresh purchase agreements with only renewable power providers, including hydel and solar energy. "NDMC continues to take lead in pollution mitigation measures and has resolved to stop purchase of petrol or diesel based passenger cars and will acquire electric cars in future, converting its existing fleet too in a phased manner. NDMC has already introduced more than 60 e-charging stations in its area and is augmenting by more than 100 in this year itself," the civic body chairman Dharmendra said in his budget speech on Friday. "A fleet of the e-scooter is planned to be deployed in this year complementing the smart bikes. Its cycle-in-city scheme is expected to put in place dedicated cycle tracks in facilitating office goers to cycle to work in a safe and enjoyable manner. To reduce the dust pollution, intensive tree washing is being continued. "Mist sprayers have been deployed at central park with more coming up and mechanical road sweepers have proven to be very effective in mitigating dust in air. Green strips are being developed at a fast pace so that entire brown space is covered leaving little scope for dust pollution," he added. NDMC is going to implement Pay-Gov common payment portal for all services of NDMC in FY 2022-23. Block-Chain based applications in areas of Birth and Death Registration, Estate and Property Tax will be completed by March 31. "Providing electric connection to JJ Cluster in left out jhuggis work is in the pre-tendering stage and is likely to be taken up during the 2022-23 financial year. Two fault locating vans for detecting the fault of feeders are in process and the fault locating vans are likely to be procured by June, 2022," he said. In the education sector, the NDMC has plans to set up one nature based class room in its 10 NDMC and cycling club in five schools. "The total receipts of the budget estimates (BE) 2022-23 are Rs 4,381.43 crore against Rs 3,814.30 crore provided in Revised Estimate (RE) 2021-22. The actual receipts in 2020-21 were Rs 3,915.79 crore. The BE 2022-23 for the revenue receipts are Rs 3,842.78 crore against Rs 3,336.45 crore provided in RE 2021-22 and actual of Rs 3,126.44 crore in 2020-21," he said. "The BE 2022-23 for capital receipts are Rs 538.64 crore against Rs 477.85 crore provided in RE 2021-22 and actual of Rs 789.35 crore in 2020-21. The total expenditure for BE 2022-23 are Rs 4,202.48 crore against Rs 3,678.45 crore provided in RE 2021-22 and actual of Rs 3,236.70 crore in 2020-21. "The BE for revenue expenditure in 2022-23 are Rs 3,525.82 crore against 3,276.37 crore provided in RE 2021-22 and actual of Rs 3,061.07 crore in 2020-21. The capital expenditure is projected at Rs 676.65 crore in BE 2022-23 against Rs 402.09 crore in RE 2021-22 and actual of Rs 175.63 crore in 2020-21," he added. PTI GJS SRY

NDMC budget: Plans to switch to EV vehicles, no power purchase agreements with thermal plants

<keyword id="45008" type="DOMAIN" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> on Wednesday put its decision to shut operations at its 4,000 MW Mundra ultra mega power project (UMPP) on hold till March 20, in expectation of an acceptable solution for all parties over pass through of higher coal prices. Earlier, Tata Power arm Coastal <keyword id="1993775" type="COMPANY" weightage="20" keywordseo="Gujarat-Power-Ltd">Gujarat Power Ltd</keyword> (CGPL) which operates 4,000 MW Mundra plant had served notices to discoms of Gujarat, Haryana, Rajasthan, Punjab and Maharashtra stating that its will stop supplying power from the plant from February 29 if tariff is not increased. Subsequently, the CGPL had served notices to the discoms for closure of the Mundra plant progressively from March 11 due to delay in adoption of the High Powered Committee recommendation and entering into supplemental <keyword id="511035" type="PERSON" weightage="20" keywordseo="power-purchase-agreement">power purchase agreement</keyword> (PPA). Intervening the in issue the union power secretary S N Sahai convened at meeting of all concerned parties on the issue on March 9, 2020. In a statement issued on Wednesday, the company said, "There were certain legal and contractual issues discussed pertaining to the PPA in light of the earlier and subsequent Supreme Court orders, which all parties have agreed to examine upon." The company further said, "It was agreed that the Union Power Secretary will re-convene another meeting within next 10 days so as to arrive at a decision on the same on or before March 20. "Given the positive discussions in this meeting and the intent expressed by all parties to arrive at an acceptable solution, CGPL awaits decision by 20th March and till such time normal operations of the Mundra plant will continue." In October 2018, the Supreme Court had directed the <keyword id="103658" type="COMPANY" weightage="20" keywordseo="Central-Electricity-Regulatory-Commission">Central Electricity Regulatory Commission</keyword> (CERC) to decide on changes to PPAs. The apex court had given the power regulator CERC, eight weeks to submit its decision on changes in PPAs that were signed by the three Gujarat-based power producers to reflect the higher cost of imported coal. Mundra UMPP is an imported coal-based power plant. The issue of higher coal cropped up after Indonesia changed certain regulation which increased the price of imported dry fuel. Thereafter it was not viable to supply power at the agreed tariff as per the PPA signed with the discosm by the CGPL. Tata Power has been pursing its case of pass through of higher coal prices. The company in its statement said, "The notices still remain valid and CGPL will consider appropriate decision on the notice of closure based on the outcome of these meetings. "We are reasonably confident of arriving at a solution for Mundra Plant in the next few weeks to avoid closure of the plant." The CGPL has inked PPAs to supply 1,805 MW to Gujarat, 760 MW to Maharashtra, 475 MW to Punjab, and 380 MW each to Rajasthan as well as Haryana.

Tata Power shuts down Mundra power project amidst a standoff on price hike

<ul class="summary-list"><li>Armenia has been ordering more weapons, turning to France and India for air-defense systems.</li><li>Armenia is a longtime ally of Russia, but it has leaned away from Moscow in recent years.</li></ul>In recent weeks, Armenia has ordered air-defense systems and radars from France and was reported to have ordered anti-drone systems from India.Those orders come amid heightened tensions with neighboring Azerbaijan, with which Armenia has fought several conflicts, including a short clash in September that ended with Azerbaijan conquering the enclave of Nagorno-Karabakh, causing its 120,000 ethnic-Armenian residents to flee.The acquisitions are notable not only for their timing but also because they show Armenia is taking tangible steps to lessen its dependency on military hardware from Russia, a longtime ally that has offered Yerevan little support against mounting pressure from Azerbaijan.Armenia's six-week war with Azerbaijan in 2020 captured worldwide attention for <a href="https://www.businessinsider.com/drones-in-armenia-azerbaijan-war-raises-doubt-about-tanks-future-2020-11">Azerbaijan's use of aerial drones</a>. At a press conference to announce the sale in October, France's defense minister said air defenses were "<a href="https://www.reuters.com/world/france-boost-armenias-air-defences-with-radars-missiles-minister-2023-10-23/" target="_blank" rel="noopener">absolutely key</a>" and that Paris was aiding Yerevan with sales of three Thales GM 200 radars and an agreement on the future delivery of short-range Mistral air-defense missiles.<div type="image" title="Armenia Azerbaijan Nagorno-Karabakh conflict" height="1362" width="2500" msid="106166596" hostid="261"></div>"Armenia's choice to order air-defense systems from France is a significant one," James Rogers, an expert on <a href="https://affiliate.insider.com?h=9412f7e5e68500052fc2b51d4713b6330d2851a57aa3d8aafc43aea2854e70f6&amp;postID=658218f6c2e850280a81327e&amp;postSlug=armenia-buying-french-indian-weapons-drifting-away-from-ally-russia-2023-12&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2FPrecision-American-James-Patton-Rogers%2Fdp%2F1526125889" target="_blank" rel="noopener">drones and precision warfare</a>, told Business Insider. "Not only does it highlight to Russia that Armenia has options when it comes to defense cooperation, but it marks a major leap forward in Armenia's attempts to modernize its military."Reports in early November indicated Yerevan was also buying <a href="https://www.rferl.org/a/armenia-india-weapons-anti-drone/32679654.html" target="_blank" rel="noopener">more weaponry from India</a>, including Zen anti-drone systems, which <a href="https://www.zentechnologies.com/anti-drone-system-counter-drone-cuas.php" target="_blank" rel="noopener">are designed</a> to detect and bring down enemy drones. Armenia previously bought four Indian-made Pinaka multi-barrel rocket launchers in 2022, the first foreign order of that system.Nicholas Heras, the senior director of strategy and innovation at the New Lines Institute, told Business Insider that Armenia was advancing its foreign and national security policies on two tracks."One track is to build defense alliances with more powerful outside actors in Eurasia, and the second track is to improve the Armenian military's ability to defend against Azeri airpower in tactical engagements," Heras said. "India, in particular, is a prized defense partner with Armenia because India has a large defense industry that can also arm and improve Russian weapons platforms which Armenia deploys."<div type="image" title="Azerbaijan Armenia military vehicles" height="1333" width="2000" msid="106166597" hostid="261"></div>Armenia's military arsenal has long been predominantly Russian, but Yerevan has attempted to change that as its relations with Moscow have soured, especially after its devastating defeat in the 2020 war, during which Azerbaijan used Israeli- and Turkish-made weapons.Russia has failed to aid Armenia despite Yereven's membership in the Moscow-led Collective Security Treaty Organization. In addition to being <a href="https://www.businessinsider.com/wagner-putin-uprising-as-russian-military-tied-down-in-ukraine-2023-6" target="_blank" rel="noopener">tied down by the war in Ukraine</a>, Russia is most likely irked by Armenia moving closer to Washington and the West under Prime Minister Nikol Pashinyan, who has long questioned the value of CSTO membership."Armenia's partnership with Russia is at a low ebb, and Pashinyan is pushing forward, slowly but surely, to bring Armenia closer to NATO, including the prospect of normalizing Armenia's relations with Turkey," Heras said.Heras added that over the past two years, the US had been sending "a strong signal" that it "would like to test out the prospect for a more strategic US-Armenian security relationship."<div type="image" title="US Armenia military exercise Eagle Partner" height="1130" width="2000" msid="106166598" hostid="261"></div>Washington and Yerevan seemed to demonstrate mutual interest in closer defense relations in September when Armenia hosted a bilateral exercise focused on training for peacekeeping operations.Eighty-five US troops trained alongside 175 Armenia personnel during the drill, which was "a testament to our longstanding partnership with Armenia and builds upon decades of successful peacekeeping and security cooperation," the US Embassy in Armenia said in a statement.Russia, predictably, <a href="https://www.rferl.org/a/armenia-military-exercises-us-russian-opposition/32587572.html" target="_blank" rel="noopener">opposed the exercise</a>, and Yerevan has kept its distance since then. Pashinyan skipped the organization's summit in mid-November, a move <a href="https://www.reuters.com/world/europe/russia-armenia-skipping-csto-summit-is-latest-anti-russian-move-orchestrated-by-2023-11-15/" target="_blank" rel="noopener">Russia accused the West of orchestrating</a>.Armenia under Pashinyan has tried to move away from Russia "by building a web of strategic partnerships," Heras said. "Fundamentally, Pashinyan does not want to depend on Russia to ensure Armenia's territorial integrity and security, and his effort to build the relationship with the United States works toward this goal."Acquiring weaponry from other countries serves a similar purpose, but Armenia's recent purchases also reflect the sensitivity of its international position.<div type="image" title="Armenia Nagorno-Karabakh refugee" height="1334" width="2000" msid="106166599" hostid="261"></div>The Mistral missile has a relatively short range of 4 miles, suggesting the sale is meant to bolster Armenia's arsenal but was made with potential political backlash in mind. Turkey <a href="https://www.middleeasteye.net/news/turkey-armenia-france-arm-sales-provocation" target="_blank" rel="noopener">has criticized</a> French arms sales to Yerevan. (Azerbaijan<a href="https://www.reuters.com/world/asia-pacific/azerbaijan-says-france-laying-ground-new-regional-war-by-arming-armenia-2023-11-21/"> has also criticized</a> the recent French and <a href="https://www.bloomberg.com/news/articles/2023-12-06/azerbaijan-warns-weapons-supplies-to-armenia-may-trigger-new-war" target="_blank" rel="noopener">Indian arms sales</a> to Armenia.)Rogers said that "range is important in war" and that it enabled strikes on a wider set of targets. "In order not to destabilize the region or risk an outbreak of hostilities, therefore, Armenia and France have agreed to these short-range yet effective air-defense systems."Heras said that the main quandary facing Armenian foreign policy was it could not afford to sever ties with Russia despite recent tensions, but it also could not trust Russia to intervene on its side if there's another war with Azerbaijan. The need to strike a balance between Russia and new partners while bolstering its small military with limited resources complicates Armenia's task."Armenia needs to purchase weapons that improve its ability to pursue a 'porcupine strategy,'" making itself a more threatening target for Azerbaijan if the two countries go to war again, Heras said.Buying French and Indian short-range air-defense weapons that could be used by small infantry units is "a potentially cost-effective way to impose higher costs on Azerbaijan's drone airpower," Heras added.Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history. His articles have appeared in a variety of publications focused on the region.

A Russian ally's purchase of French and Indian weapons is another sign Moscow is losing influence in its neighborhood

<ul><li>The Nasdaq-listed Indian company’s total income went up 47% in Q4 compared to the same period last year. </li><li>By the end of the financial year, the company’s power capacity increased 28% on a YoY basis. </li><li><keyword id="944686" type="General" weightage="20" keywordseo="renew-power" source="Orion">Renew Power</keyword> says it expects to build 1,750-2,250MW of power capacity by the end of FY24. </li></ul>ReNew, one of India’s top green energy companies, posted a net profit of ₹7.4 crore ($1 million) for the fourth quarter of FY23. In the same quarter last year, it posted a net loss of ₹355 crore ($43 million). The Nasdaq-listed company saw its total income go up by 47% to ₹2,591 crore or $315 million on a YoY basis. Its adjusted EBITDA for the quarter stood at ₹1,201 crore ($146 million) as against ₹1,279 crore ($156 million) in Q4 FY22. EBITDA is earnings before interest, tax,depreciation and amortisation. By the end of FY23, the company’s portfolio consisted of 13.7 GW — which increased 28% on a YoY basis. Of this, around 8 GW is commissioned and 5.7 GW is committed. The renewable energy company with interests in wind and solar energy said that it has signed power purchase agreements (PPAs) with various buyers to the tune of 101 megawatts during the quarter. “Only around 1% of our total portfolio have Letters of Award that await a PPA,” the company said in a press release. Its ability to collect payments also improved for the quarter over the last year, with Days Sales Outstanding at 138 days — which showed a 74-day improvement. Days sales outstanding is the average number of days that it takes to collect payment after a sale has been made. This is key for power generators who sell to utilities. For FY23, its total revenue increased by 29% to ₹8,930 crore ($1,087 million). However it posted a net loss of ₹503 crore ($61 million) for the financial year. For FY24, the company’s guidance involves generating a cash flow to equity of ₹600-800 crore. It also intends to post an adjusted EBITDA of ₹6,000-6,600 crore. This guidance however is subject to weather being similar to FY23, the company says. It also intends to build 1,750-2,250MW of power capacity by the end of the financial year.

ReNew Power posts net profit of $1 mn for Q4 but ends FY23 in the red

<ul><li><keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword> Three Gorges International (CTGI), has pulled out of the West Seti hydropower project, explaining that it isn’t feasible. </li><li>CTGI’s exit will have a definite impact on the credibility of Chinese firms in <keyword id="12266" type="LOCATION" weightage="20" keywordseo="Nepal">Nepal</keyword>, and could set a troubling precedent for similar projects. </li><li>It could be ripe moment for <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> to step in. Earlier this year, India’s state-backed Satluj Jal Vidyut Nigam (SJVN) commenced construction on one of Nepal’s largest <keyword id="743601" type="PERSON" weightage="20" keywordseo="hydroelectricity">hydroelectricity</keyword> projects, Arun 3. </li></ul>India has always been increasingly wary of China’s growing closeness with its neighbours over the recent years, a key example being Nepal. In need of financing for development and <keyword id="17408" type="DOMAIN" weightage="20" keywordseo="infrastructure">infrastructure</keyword>, Nepal has signed deals worth <a href="https://www.hindustantimes.com/world-news/nepal-china-sign-8-pacts-for-projects-worth-2-4-billion/story-NW4J5RheWBbh30bQwmjBiN.html">billions of dollars</a> with China for hydroelectricity, road construction, manufacturing and agriculture projects. However, the countries’ burgeoning relationship might have just hit a snag. A state-owned Chinese power company, China Three Gorges International (CTGI), has pulled out of the West Seti hydropower project after explaining to the Nepalese government that the project isn’t feasible. The $1.2 billion undertaking would have resulted in the completion of Nepal’s first reservoir project by 2019, but without construction not even having begun yet, the project will likely be shelved indefinitely. The two sides have been sparring over the terms of the project for some time now. The Nepalese government had offered to reduce the capacity of the project by 20% to 600 MW and extend the <keyword id="511035" type="PERSON" weightage="20" keywordseo="power-purchase-agreement">power purchase agreement</keyword> from 10 years to 12 years, but CTGI still felt that high displacement and transmission expenses would compromise the cost-effectiveness of the project. A possible rift The pullout of CTGI from the project will have a definite impact on the credibility of Chinese firms in Nepal, and could set a troubling precedent for similar projects. Additionally, Nepal is also wary of finding itself in a Chinese debt trap, as experienced by other South Asian countries like Pakistan and Sri Lanka. All things considered, it could be a ripe moment for India to step in. India already has a number of vested interests in Nepal’s hydropower sector, a sector that it has traditionally been monopolised. Earlier this year, in May, India’s state-backed Satluj Jal Vidyut Nigam (SJVN) commenced construction on one of Nepal’s largest hydroelectricity projects. The <a href="https://in.reuters.com/article/nepal-india-modi/india-and-nepal-pms-launch-construction-of-900-mw-power-plant-idINKBN1IC0P6">900 MW Arun-3 project </a>represented a mending of ties between India and Nepal following an economic blockade at their border in 2015 and 2016. Regardless of the outcome of the West Seti project, India should see CTGI’s exit as a way to improve its own clout in Nepal. Nepal’s Prime Minister, KP Oli, had been relying on Chinese investment to reduce the country’s dependence on India, however the latest development could see things pivoting back to the latter.

China pulling out from a $1.2 billion project in Nepal could be an opportunity for India

<keyword id="6385716" type="UNKNOWN" weightage="20" keywordseo="aircraft">Aircraft</keyword> leasing <keyword id="10850470" type="UNKNOWN" weightage="20" keywordseo="firm-boc-aviation">firm BOC Aviation</keyword> on Monday said it has signed a purchase-and-leaseback agreement with budget carrier IndiGo parent <keyword id="2351966" type="COMPANY" weightage="20" keywordseo="InterGlobe-Aviation">InterGlobe Aviation</keyword> for eight new <keyword id="6356166" type="COMPANY" weightage="20" keywordseo="airbus">Airbus</keyword> A320 neo planes. The aircraft, to be powered by CFM Leap <keyword id="240487" type="DOMAIN" weightage="20" keywordseo="engines">engines</keyword>, are scheduled to be delivered in the second half of 2021, a release said. "We are delighted to partner once again with IndiGo as we continue to support our airline customers to finance their aircraft. "This incremental capital expenditure also reflects our disciplined investment strategy throughout the cycle, focused on building a portfolio of latest technology aircraft deliveries," <keyword id="145397" type="COMPANY" weightage="20" keywordseo="BOC-Aviation">BOC Aviation</keyword> Managing Director and Chief Executive Officer Robert Martin said. According to the Q3 FY21 earnings presentation, IndiGo had 287 aircraft in its fleet at the end of December 31, 2020. Of these, 272 were on operating lease, while the remaining 15 were owned/finance lease. "We are pleased to further strengthen our existing relationship with BOC Aviation. The addition of these eight A320 neo aircraft demonstrates our confidence in the future growth of the aviation market in India," said Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer, IndiGo. With a fleet of 284 aircraft at present, the airline is operating over 1,100 daily flights, connecting to 60 domestic and six international destinations. Hong Kong Stock Exchange-listed and <keyword id="6356662" type="LOCATION" weightage="20" keywordseo="singapore">Singapore</keyword> headquartered BOC Aviation has a fleet of 553 aircraft owned, managed and on order. Its owned and managed fleet was leased to 87 airlines worldwide in 39 countries and regions as of December 31 last year, as per the release. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-february-auto-sales-from-maruti-suzuki-bajaj-auto-hero-motocorp-tvs-ashok-leyland-mahindra-and-others/articleshow/81270921.cms?upcache=2">Tata Motors reports highest passenger vehicle sales in 9 years — Maruti, Ashok Leyland, outperform street expectations</a> <a href="https://www.businessinsider.in/science/space/news/europe-space-agency-hiring-astronauts-it-is-looking-for-women-and-people-with-physical-disabilities/articleshow/81271858.cms">Europe’s space agency is recruiting astronauts after over a decade — and its looking for women and people with physical disabilities</a> <a href="https://www.businessinsider.in/india/news/indians-are-heading-back-to-parks-supermarkets-and-pharmacies-but-malls-and-theatres-are-not-on-the-priority-list/articleshow/81271614.cms">Indians are heading back to parks, supermarkets and pharmacies — but malls and theatres are not on the priority list</a>

You Searched For "power purchase agreement" and got 12 results

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A Russian ally's purchase of French and Indian weapons is another sign Moscow is losing influence in its neighborhood

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China pulling out from a $1.2 billion project in Nepal could be an opportunity for India

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IndiGo, BOC Aviation signs purchase-leaseback agreements for eight A320neo planes

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