NOVEMBER 20239TOP STORIESGENSOL ENGINEERING WINS A RS 302 CRORE CONTRACT FROM MAHAGENCOGensol Engineering, a construction engineering firm, announced its successful acquisition of a contract valued at Rs 301.5 crore from Maharashtra State Power Generation Co Ltd (Mahagenco). This contract focuses on the establishment and activation of a solar power plant in Maharashtra. Gensol Engineering Ltd emerged as the winning bidder for the comprehensive project, encompassing the conceptualization, engineering, procurement, installation, testing, and commissioning of a cutting-edge 62 MWAC crystalline solar PV technology grid-connected solar PV power plant.The company, a part of the Gensol group of companies, is renowned for offering engineering, procurement, and construction (EPC) services for solar power plant development. Moreover, Gensol has expanded its horizons by establishing an electric vehicle manufacturing facility in Pune. This facility is dedicated to the development and production of electric three-wheelers and four-wheelers. In this way, Gensol Engineering demonstrates its commitment to sustainable energy and transportation solutions while significantly contributing to the renewable energy landscape in Maharashtra. INDIA IS EXPECTED TO GENERATE 18 PERCENT OF ITS ELECTRICITY FROM SOLAR ENERGYAccording to the International Energy Agency (IEA), their 2023 World Energy Outlook predicts a significant increase in solar energy's contribution to India's electricity generation. The report anticipates that by 2030, solar sources will account for 18 percent of India's electricity, a substantial jump from the current 6 percent. The IEA's outlook for the global energy landscape is also optimistic, with renewables, including solar and wind power, expected to supply half of the world's electricity by 2030. This shift is attributed to the remarkable growth of clean energy technologies like solar, wind, electric vehicles, and heat pumps. The report further projects a considerable surge in the number of electric cars on the roads, potentially reaching almost ten times the current count.The International Energy Agency (IEA) cautioned that despite progress, greenhouse gas emissions remain at levels insufficient to prevent global temperatures from exceeding the critical 1.5 degree Celsius threshold. In the case of India, the report specifically mentioned that solar energy is projected to increase its share in the country's electricity generation from the current 6 percent to 18 percent by 2030. India has set ambitious targets, aiming to achieve 500 gigawatts (GW) of non-fossil fuel-based installed capacity by 2030, which includes approximately 270 GW of solar capacity. As of August, India had already surpassed 70,000 megawatts in solar power generation capacity.The report also highlighted the implementation of policies in various countries aimed at promoting the diversification of supply chains for clean energy technologies. Notable examples include the Inflation Reduction Act in the United States, the Net Zero Industry Act in the European Union, and India's Production-Linked Incentives scheme. Furthermore, the report emphasized that India leads as the largest source of energy demand growth globally under the Stated Policies Scenario (STEPS), surpassing Southeast Asia and Africa. TOP STORIESLARSEN & TOUBRO BAGS LARGE ORDERS FOR ITS POWER TRANSMISSION & DISTRIBUTION BUSINESSL&T Construction declared that during the current quarter, its Power Transmission & Distribution division secured significant contracts both in India and abroad. To help ease the strain on the state's electrical transmission grid, the company has been given an order to build 400kV and 220kV transmission lines in Chhattisgarh.It received an order in Saudi Arabia for the turnkey building of an overhead transmission line and 380 kV substation. In order to serve a future residential metropolis with a dependable and efficient power supply, another order has been obtained in Kuwait for the construction of five substations. There are still substation orders in Qatar that have been won.In a huge step forward, the company has also secured a consortium order in Malaysia to build a 275kV underground cable system, which will treble the current network's capacity for electricity transmission. Significant orders range in value from Rs 1000 crore to Rs 2500 crore, large orders from Rs 2500 crore to Rs 5000 crore, major orders from Rs 5000 crore to Rs 7000 crore, and mega orders from Rs 7000 crore and above.An Indian global corporation worth $23 billion, Larsen & Toubro is involved in hi-tech manufacturing, services, and EPC projects. It is active in more than 50 nations globally. AMD & INDIA TELECOM ARE WORKING TOGETHER TO DEVELOP TELECOM TECHNOLOGIESAmerican semiconductor manufacturer Advanced Micro Devices (AMD) has partnered with Indian manufacturers of 4G and 5G equipment, including VVDN and C-DoT, to provide telecom services in the nation, facilitated by its purchase of Xilinx, a manufacturer of programmable logic chips. "We are bringing leading-edge, power-efficient technologies to India to power radios, servers and compute requirements at data centers and the edge, and even in the RAN (radio access network)", said Gilles Garcia, Senior Director Business Lead, Data Centre Communications Group, AMD.About 10,000 people work for AMD in India, where they are engaged in chip architecture design, software development, validation, and research & development. In July, the business declared that it will be spending $400 million over the next five years in India to increase its software development and chip design skills. Garcia said AMD has received good response, with most major local vendors of 4G and 5G players and server makers using its technology. "We are really trying to bring the ecosystem together and raise this ecosystem and help it as much as we can", he said.As a fabless firm that does not produce its own chips, AMD does not believe there are many prospects to be involved in the manufacturing industry. AMD is indirectly responsible for turning India into a centre for electronics manufacturing by supporting regional vendors like VVDN in their production of servers and radio equipment, said Garcia.The company displayed many ideas that utilise AMD's radio devices in addition to a locally manufactured server that uses AMD central processing units. The business also demonstrated its artificial intelligence (AI) engine, which it acquired after acquiring US-based chipmaker Xilinx. Garcia claims that Xilinx's 5G processing capabilities would serve as the foundation for 6G networks.
< Page 8 | Page 10 >