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Waaree Renewable shares slip over 5% after termination of major solar EPC project
Waaree Renewable shares slip over 5% after termination of major solar EPC project

Business Upturn

time2 days ago

  • Business
  • Business Upturn

Waaree Renewable shares slip over 5% after termination of major solar EPC project

Shares of Waaree Renewable Technologies Ltd came under pressure in Monday's trade, sliding over 5% in early morning deals, after the company announced the cancellation of a key solar EPC contract. As of 9:29 AM, the shares were trading 5.24% higher at Rs 1,123.90. In a stock exchange filing, Waaree said it received a notice on July 19, 2025, at 3:30 p.m., informing it of the cancellation of a 125 MWAC (181.3 MWp DC) turnkey solar power project. The contract was awarded to a consortium in which Waaree was a member. The project—originally slated to be completed within 18 months—was being executed for the Assam Power Distribution Company Limited (APDCL). However, APDCL has now called off the project after the Government of Assam decided to withdraw the plan from the Asian Development Bank (ADB) funding framework. With the funding support no longer available, APDCL stated that continuing the project is not viable, leading to a full withdrawal of the awarded work. The scope included EPC (engineering, procurement, and construction) as well as operations and maintenance. Waaree has not yet quantified the financial impact of this development but said it would update stakeholders as more clarity emerges. The cancellation is seen as a temporary setback for the company, which has been steadily growing its renewable energy presence both in India and abroad. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at

Before eviction, 95% ‘illegal' settlers leave Paikan forest
Before eviction, 95% ‘illegal' settlers leave Paikan forest

Time of India

time11-07-2025

  • Politics
  • Time of India

Before eviction, 95% ‘illegal' settlers leave Paikan forest

Guwahati: Nearly 95% of the alleged illegal settlers have voluntarily vacated the Paikan reserve forest in lower Assam's Goalpara district a day before the scheduled eviction drive, officials said on Friday. Tired of too many ads? go ad free now The eviction aims to clear over 1,000 bighas of encroached land in the Krishnai Forest Range. It was initially scheduled for Friday but was deferred by a day in view of the Friday namaz. Goalpara district commissioner Khanindra Choudhury said most families dismantled their temporary structures and removed their belongings, leaving only immovable or brick-built constructions. "Security and logistical arrangements have been finalised to ensure a smooth operation," he added. Meanwhile, a senior forest officer said 1,080 families encroached on the forest land and were served eviction notices between Nov and Dec last year, followed by a final warning last month asking them to vacate by July 10. In the last two years, around 650 hectares of forest land have been freed from encroachment, of which 200 hectares were inhabited, while 450 hectares were under cultivation, the official added. The Goalpara eviction follows a mega eviction drive in Charuwa Bakra, Chirakuta, and Santoshpur under Chapar revenue circle in Dhubri district on Tuesday. Around 3,500 bighas of land were freed from encroachment. According to govt data, over 800 families illegally occupied the govt land. The evicted land will be handed over to the Assam Power Distribution Company Limited (APDCL) for a proposed thermal power plant. CM Himanta Biswa Sarma, during his visit to the site last month, said the 3,400 MW thermal power plant in the area will benefit the people of the entire region. Meanwhile, Congress vowed to provide compensation to all Indian citizens evicted during the BJP regime if the party returns to power. Congress MP from Dhubri, Rakibul Hussain, on Friday met the evicted families at Chapar and vowed to ensure justice for them.

90% families vacate Chapar govt land proposed for power plant
90% families vacate Chapar govt land proposed for power plant

Time of India

time06-07-2025

  • Politics
  • Time of India

90% families vacate Chapar govt land proposed for power plant

1 2 3 Guwahati: With the govt proposing to set up a thermal power plant at Chapar in lower Assam's Dhubri district to meet the state's energy requirement, Sunday turned out to be the last day there for 90% of the 800 odd families, who had been allegedly occupying 3,500 bighas of govt land. Chapar circle officer Shashee Bhusan Raj Konwar said over 90% of families had vacated the land at Chirakuta Charuwa Bakra village till Sunday evening without any objection. "The families have been provided a one-time financial assistance of Rs 50,000 each. Moreover, the families have been given alternate land at Boyjer Alga village at the Athani revenue circle in the district," he added. The officer said the first eviction notices were served about three months ago, while people were alerted to vacate the land voluntarily. "Only a few families are there, who are also preparing to vacate the land. It seems that eviction will not be required now," he said, adding that the land has been given to the Assam Power Distribution Company Limited (APDCL) for a thermal power plant. The circle officer said that neither any protest nor any objection has been raised by the people. "Rather they cooperated with the administration," Konwar added. CM Himanta Biswa Sarma, while speaking to reporters on the sidelines of an event, said, "An eviction drive was scheduled at Chapar in Dhubri from Tuesday for clearing the govt land for setting up a thermal power plant. However, most of the families have already vacated the land voluntarily. Compensation has also been given to the families, who had either myadi patta land or govt allotted land. On the other hand, an eviction drive will be carried out at Paikan in Goalpara. People have still not vacated the land there." The CM, on June 25, had visited the Chirakuta Charuwa Bakra at Bilasipara, a proposed site for a new thermal power plant aimed at boosting the state's energy self-sufficiency. He said that once operational, the plant is expected to create 20,000 direct and thousands of indirect employment opportunities. He also assured that eligible residents on the site would receive compensation and rehabilitation as per govt policy. According to govt data, Assam's energy demand is projected to reach 5,000 MW by 2030 and 7,000 MW by 2035. The state cabinet approved the Assam Thermal Power Generation Project Promotion Policy 2025 on May 5, aimed at attracting large-scale investments to the sector.

NLC arm, Assam Power utility ink pact
NLC arm, Assam Power utility ink pact

New Indian Express

time30-06-2025

  • Business
  • New Indian Express

NLC arm, Assam Power utility ink pact

CUDDALORE: NIRL Assam Renewables Limited (NARL) and Assam Power Distribution Company Limited (APDCL) signed a Deed of Agreement on Friday to develop renewable energy projects in Assam. The agreement was formalised during the 2nd North-East Mining Ministers' Conclave in Guwahati, in the presence of Union Coal and Mines Minister G Kishan Reddy, Assam Chief Minister Himanta Biswa Sarma, and other dignitaries. In the first phase, NARL will set up a 500 MW solar power plant at Lahorijan in Karbi Anglong district, part of a planned 1000 MW renewable energy initiative. Under the agreement, APDCL will transfer 8000 bighas of land to NARL for the project's execution. Prasanna Kumar Motupalli, CMD of NLC India Limited, said the project reflected the Centre's commitment to sustainable energy transition. He said the solar plant would strengthen the region's energy security, support the Government's Viksit Bharat 2047 vision, and empower communities through clean energy. Future plans include Pumped Storage and Battery Energy Storage Systems, which will help Assam meet its Renewable Purchase Obligations and build long-term energy resilience. The agreement underlines the importance of public sector partnerships in expanding green energy infrastructure across the North East.

APDCL enters into agreement with NARL, joint venture of NLCIL's subsidiary for development of 500 MW solar power plant in Assam
APDCL enters into agreement with NARL, joint venture of NLCIL's subsidiary for development of 500 MW solar power plant in Assam

The Hindu

time29-06-2025

  • Business
  • The Hindu

APDCL enters into agreement with NARL, joint venture of NLCIL's subsidiary for development of 500 MW solar power plant in Assam

In a move aimed at accelerating renewable energy development in the Northeast, NIRL Assam Renewables Limited (NARL), a joint venture between NLC India Renewables Limited (NIRL) and Assam Power Distribution Company Limited (APDCL) have signed a Deed of Agreement for development of a 500 MW solar power plant in Assam. According to an official release, the agreement was signed in the presence of Union Minister for Coal and Mines G. Kishan Reddy, Assam Chief Minister S.C. Dubey, Union Minister of State for Coal and Mines Kaushik Rai and representatives from NLCIL and APDCL at the 2nd North-East Mining Ministers' conclave in Guwahati on Friday. As part of this agreement, the NARL and APDCL have committed to collaborate on the development of a 500 MW solar power generation plant at Lahorijan in Karbi Anglong district in Assam, as the first phase of implementation under a larger 1000 MW renewable energy development plant. Under the agreement, APDCL will hand over 8,000 bighas of land at Lahorijan to NARL for execution of the project. This initiative marks a major milestone in Assam's journey towards sustainable energy transition and supports India's broader commitment to achieving its renewable energy projects. According to Prasanna Kumar Motupalli, Chairman-cum-Managing Director of NLCIL, 'The agreement signed between NARL and APDCL reflects NLCIL's commitment to the energy needs of Assam and the Northeastern States. Through this collaborative venture, NLCIL aims to build large-scale green infrastructure, contribute to the region's energy security, and support the Government of India's vision for a Viksit Bharat by 2047.' 'The 500 MW solar power project is not just a power plant; it is a step towards inclusive growth, sustainability, and empowering communities through clean energy,' he added NARL, the implementing JV company, will anchor the execution of this solar project and future renewable initiatives in the region, including pumped storage and Battery Energy Storage Systems (BESS), contributing to Assam's Renewable Purchase Obligations (RPO) and long-term energy resilience.

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