Kalpana Pathak

Engineering major Larsen & Toubro (L&T) on Tuesday said the companys board has approved a proposal to raise funds worth Rs 7,500 crore.

Vedanta Group's Sterlite Power Transmission Ltd (SPTL) and Singapore's sovereign wealth fund GIC are forming a $1 billion platform for India's power transmission sector. GIC will invest $500 million for a 49% stake, and Sterlite Power will match the amount for a 51% stake. The JV will initially include five under-construction projects, with plans to expand. Sterlite Power will transfer four operational assets worth about ₹7,500 crores into the JV. This investment aims to support India's goal of increasing renewable energy usage and upgrading the national transmission grid.

Avendus Capital foresees $125 billion investment in India by 2030, propelled by green hydrogen and green ammonia segments. The growth is fueled by sustainability focus, commercial viability, regulatory push, electrolysis of water, and steel industry off-take contracts.

The bid for the Rs 496-crore project which opened in February, closes on Thursday. It is part of the National Green Hydrogen Mission which was launched in January 2023 with an outlay of Rs 19,744 crore. One of the key criteria from the bidders is participation as a consortium or partners to ensure the entire value chain - from making hydrogen and dispensing it and running vehicles fuelled by hydrogen. The bidding consortium should include a vehicle manufacturer, hydrogen fuel supplier distributor, and other partners as required.

Reliance Industries Ltd (RIL), Larsen and Toubro (L&T), Greenko Group, and Welspun New Energy are planning to establish green hydrogen and green ammonia units at Gujarat's Deendayal Port Authority (DPA) in Kandla, according to informed sources. The project, estimated to attract investments up to Rs 1 lakh crore, marks one of the largest investments in India's energy infrastructure.

Thermax Ltd, an energy and environment solutions provider, is aiming for an over Rs 1000 crore order book in its water and wastewater solutions business this fiscal. The company announced the opening of its first manufacturing facility for water and wastewater treatment solutions in Pune, with its share price jumping 3.86%. Thermax's water and waste solutions business has grown three times in the last four years and is expected to reach 20-30% annual growth.

Thermax, an energy and environment solutions provider, is expecting significant growth in the steel, refining, petrochemicals, and power sectors this year. Managing director and CEO Ashish Bhandari is optimistic about the power sector, as the government is discussing large power plants. Thermax expects better performance in its chemicals business, with a new plant commissioned in the next 12 months adding more capacity.

Hindustan Petroleum Corp. Ltd (HPCL) plans to establish an international oil trading desk as part of its Visakh Refinery Modernisation Project. The move aims to modernize the refinery, increase refining capacity, and improve distillate yields. A trading desk helps companies procure crude oil from the international market on a real-time basis, helping cut import prices.

Consolidated total income increased to Rs 7,199.94 crore for the fourth quarter of FY24 against Rs 6,178.35 crore in the year-ago period.

AGEL secured $400 million financing for 750 MW solar projects in Rajasthan and Gujarat, with projects having SECI PPA and merchant power setup. Lenders consortium aids AGEL's growth plans and capital management for sustainable debt structure.