Daily News Wrap-Up: NLC India Floats Tender for 393.9 MW of Solar Modules

IndiGrid recorded a profit of ₹919.21 million during Q3 FY 2024

January 30, 2024


NLC India has invited bids to procure 393.9 MW of solar modules for Gujarat State Electricity Corporation’s solar park in Khavda, Gujarat. The last day to submit the bids is February 27, 2024. Bids will be opened on the same day. Bidders must submit a bid security declaration along with the bids. Selected bidders must submit 3% of the order value as a performance bank guarantee. The scope of the supply covers manufacturing, packing and forwarding, and transportation up to Khavda, including transit insurance of crystalline solar modules.

MSEB Solar Agro Power has floated a tender for procurement of solar power under Component C of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program. The projects will be developed under Phase 2 of the Mukhyamantri Saur Krushi Vahini Yojana program. The last day for the submission of bids is February 16, 2024. A project should consist of a group of units, and the aggregate capacity of a project bid must be at least 50 MW.

India Grid Trust (IndiGrid), a power infrastructure investment trust, has recorded a profit of ₹919.21 million (~$11.05 million) during the third quarter (Q3) of the financial year (FY) 2024, a year-over-year (YoY) decrease of 23% from ₹1.2 billion (~$14.4 million). The decline in profit can be attributed to the rise in expenses related to infrastructure maintenance charges, and investment management fees, among others. The company earned a revenue of ₹7.54 billion (~$90.67 million), which was up 28% YoY.

Renewable energy company Adani Green Energy generated revenue of ₹17.65 billion (~$212.29 million) from power supply in Q3 FY 2024, a 40% YoY increase from ₹12.58 billion (~$151.31 million). The cash profit for Q3 FY 2024 was ₹8.62 billion (~$103.68 million), up 58% YoY from ₹5.46 billion (~$65.67 million). Adjusted earnings before interest, taxes, depreciation, and amortization from power supply for the quarter was ₹16.38 billion (~$197.01 million), up 40% compared to ₹11.74 billion (~$141.2 million) in Q3 FY 2023.

Taiwan-based solid-state battery manufacturer ProLogium opened a giga-scale lithium ceramic battery factory called Taoke in Taoyuan, Taiwan. The factory has a planned capacity of 2 GW and aims to supply batteries for up to 26,000 electric vehicles . Solid-state batteries use a solid electrolyte to conduct lithium ions between the positive and negative electrodes, reducing the risk of catching fire or exploding as they do not contain a flammable liquid electrolyte.