NOVEMBER 20238AMPIN & JUPITER TO CREATE 1.3 GW SOLAR VENTURE IN INDIAAmpIn Energy Transition, previously known as Amp Energy India and a significant player in India's Independent Power Producer (IPP) sector, has unveiled a strategic alliance with Jupiter International Limited to create a joint venture exclusively dedicated to solar panel manufacturing. This partnership marks a crucial move to enhance India's solar cell and module production capacity, ultimately fostering self-sufficiency in the renewable energy industry.Within this joint venture (JV), the two partners will establish an advanced manufacturing facility with a focus on producing up to 1.3 gigawatts (GW) of high-quality solar cells and modules. This initiative is in line with the Indian government's Production-Linked Incentive (PLI) Tranche-II program, which is designed to boost domestic manufacturing, reduce global supply chain vulnerabilities, and decrease India's dependence on solar imports. AmpIn's venture into manufacturing is geared towards gaining control over the supply chain for critical components. This strategic move resonates with the growing demand for solar cells made in India.Jupiter International Limited, which already operates an 800 MW solar cell manufacturing facility in Himachal Pradesh, brings more than 15 years of experience producing efficient solar cells. This partnership harnesses Jupiter's expertise and combines it with AmpIn's dedication to delivering cost-effective renewable energy. According to the JV's terms, the solar modules will be used both domestically by AmpIn and provided to third-party developers, facilitating growth in both the domestic and export segments of India's renewable energy industry. LINDE WILL PROVIDE INDUSTRIAL GASES TO INDIAN OIL'S PANIPAT REFINERYLinde's branches in India have entered into extended contracts to provide industrial gases to Indian Oil Corporation's Panipat refinery in Northern India. Linde will establish, possess, and operate substantial on-site facilities to deliver hydrogen, nitrogen, and compressed dry air to Indian Oil through a Job Work arrangement. These new on-site facilities will assist in the significant expansion of the Panipat refinery, increasing its capacity from 15 to 25 million metric tons annually.Industrial gases play vital roles in the refining process, such as sulfur removal for clean fuel production, crude oil cracking into various products, and equipment purging and cleaning. The Panipat project will mark Linde's second major hydrogen plant constructed, owned, and operated for Indian Oil. It will also rank among Linde's largest on-site facilities in India, with a combined industrial gas production capacity of 142,200 cubic meters (Nm3) per hour. The plant is scheduled to become operational in 2025.Besides serving Indian Oil, the new on-site complex will fulfill nitrogen demand from various sectors, including chemicals & energy and manufacturing. Moloy Banerjee, President of ASEAN & South Asia at Linde, noted, "We secured this project due to the outstanding efficiency of our technology and Linde's proven track record in providing safe and reliable service to our customers. We are excited to strengthen our partnership with Indian Oil and expand our presence in Northern India". TOP STORIESSOUTH EASTERN COALFIELDS ACHIEVES 100 MILLION TONNE COAL DISPATCHCoal India subsidiary, South Eastern Coalfields (SECL) has 3achieved the 100 million tonnes mark in coal dispatch for FY 2023-24 which represents a 17.65 percent jump over the corresponding figure for the same period of the previous year.This is the fastest 100 MT coal dispatch achieved by Chhattisgarh-based company since its inception, according to an official statement issued. The total coal dispatch, more than 80 percent went to the power sector as the company dispatched around 81 million tonnes of coal to power plants across the country.SECL mega projects Gevra, Dipka, and Kusmunda located in Korba district have contributed significantly to the total dispatch of 100 million tonnes of coal. Gevra, the largest coal mine in the country has contributed 30.3 MT while Dipka and Kusmunda contributed 19.1 MT and 25.1 MT of coal respectively. The total share of all three mega projects in the total dispatch has been more than 74 percent.SECL's Korea Rewa coalfield, where most of the old and underground mines are located, also made notable contribution by enhancing coal dispatch by 20 Percent as compared to last year. SECL is one of the largest coal producing subsidiaries of Coal India. The company produced 167 MT of coal (highest in its history) and accounted for around one-fourth of CIL's total coal production in FY 22-23. This year the company has a target of 197 MT of coal production. PETRONET LNG Q2 NET PROFIT INCREASED BY 9 PERCENT, TO INVEST RS 20,685 CR IN PETCHEM PLANTThe largest liquefied natural gas importer in India, Petronet LNG announced a 9 percent1 increase in consolidated net profit for the September quarter on the back of higher margins. In July through September, it reported a consolidated net profit of Rs 855.74 crore, or Rs 5.70 per share, as opposed to Rs 785.73 crore, or Rs 5.24 per share, earned during the same period last year, as per a company's stock exchange filing. Reduced petrol prices caused a 21.6 percent decline in revenue to Rs 12,532.57 crore. In the current fiscal year's second quarter, the margin increased to 9.7 percent.Petronet, its board of directors has approved a Rs 20,685 crore investment to establish a petrochemical factory in Gujarat's Dahej. The petrochemical plant, which will be built next to the company's largest LNG import terminal in India, will have a 500,000 tonne annual poly-propylene plant and a 750,000 tonne annual propane dehydrogenation plant (PDH). "The project would bring revenue generation from the sale of poly-propylene, propylene, propane, hydrogen and ethane", it said.Petronet plans to develop 25 hectares of green belt area in the region. "Besides significantly improving the top line and the bottom line of the company, the project aims to enhance the self-efficiency of the country in the field of petrochemicals", it added.The board of directors also approved the binding term sheet to be executed with Deepak Phenolics (DPL) for the 15-year offtake of 11,000 tonnes of hydrogen and 250,000 tonnes of propylene from the Petronet Petrochemical Project at Dahej. TOP STORIES
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