Latest news with #KEL
Business Recorder
28-05-2025
- Business
- Business Recorder
Nepra clears KE's BERs for two solar, one hybrid projects
ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has cleared KE's Bid Evaluation Reports (BERs) of two solar - 50 MW and 100 MW power projects - and 220 MW site neutral Hybrid Project at Dhabeji Grid and its Competitive Trading Bilateral Contract Market (CTBCM) integration plan. KEL carried out separate competitive bidding processes for the two solar projects, and in accordance with Regulation 11 of the NCBTR and paragraph 28 of the Decision, submitted the BERs to the Authority on August 28 2024, for the approval of these BERs and the bidding process. KEL stated that upon approval of the BERs, it shall notify the successful bidder and proceed with the subsequent procedural steps. KEL submitted the BERs including therewith all the information as stipulated in Regulation 11(1) of NCBTR. KEL noted that Master Textile Mills Limited ('MTML') emerged as the lowest responsive bidder for both projects, having successfully cleared the technical evaluation and submitted the lowest financial bids. According to KEL's submission, notification to the successful bidder shall be issued upon receipt of the Authority's approval of the BERs. 220MW hybrid project: KE tells Nepra won't seek additional costs The Authority has directed KEL that any adverse financial impact resulting from the delay in execution of generation or transmission projects whether on account of KEL or the successful bidder shall not be passed on to the consumers in any form and this condition shall be appropriately reflected in the relevant project agreements. In view of the foregoing, the Authority was satisfied that the bidding process conducted by KEL complies with the applicable provisions of the NCBTR-2017 as well as the directions issued by the Authority from time to time. Given that the projects were duly optimized in the approved Indicative Generation Capacity Expansion Plan ('IGCEP') and included in the approved Power Acquisition Plan ('PAP'), the Authority approved the BERs submitted by KEL in respect of its 100 MWp Solar PV Project at Bela and 50 MWp Solar PV Project at Winder, Balochistan. This decision was to form the basis for regulatory processing of the tariff petition in accordance with the applicable laws, rules, and regulations. On the issue of 220 MW site neutral hybrid project at Dhabeji Grid the Authority said that it is satisfied that the bidding process conducted by KEL complies with the applicable provisions of the NCBTR-2017 as well as the directions issued by the Authority from time to time. The Authority noted that KEL had initially indicated the possibility of equity participation in the projects, which was approved in the Decision, subject to certain directions. However, upon review of the submitted BERs, it was noted that KEL opted not to participate in the projects, as an equity shareholder. Accordingly, the Authority's directions regarding equity participation do not apply in the present circumstances. It was noted that KEL's submissions regarding the transparency of the bidding process appeared to be well-founded. The timely communication with bidders, publishing the RFP on its website, requiring both hard and soft copy submissions via SAP ARIBA, and uploading all correspondences, clarifications, and amendments on both ARIBA and its website for equal access to information, showed that the bidding process was visible and transparent. Additionally, the Authority noted that no grievance or complaint was filed by any participating bidder during the entire bidding process before the designated GRC, and during the instant proceedings. Furthermore, all documentation, procedural steps, and disclosures required under the NCBTR-2017 were verified, and found to be in order by the Authority. In light of the foregoing, the Authority was satisfied that the competitive bidding process undertaken by KEL was carried out in a transparent manner and was in compliance with the provisions of the NCBTR-2017, as well as the directions issued by the Authority in the decision. KEL stated in the subject BERs dated 19 December 2024 that based on the evaluation criteria, MTML offered the lowest tariff of Rs 11.6508 /kWh (US Cents 4.0363/kwh) for 50MWp Winder project, and Rs 11.2071 /kWh (US Cents 3.8826/kwh) for 100MWp Bela project. KEL was informed that it has duly complied with the directions of the Authority in the approved RFP regarding prudence check and displacement of expensive units. And was asked to submit a revised displacement working reflecting the updated assumptions and parameters. The Authority noted that the revised analysis reflected a more holistic view of the system-level impact of the 150 MW renewable addition. The Authority reviewed those workings and observed that KEL had the responsibility of justifying the benefits of cost savings by procuring energy from these projects, and a sufficiently reasoned and data supported case has been presented to justify the procurement of these projects on the grounds of displacing costlier generation, demonstrating potential savings in energy costs and FOREX outflow through the replacement of expensive generation sources with lower-cost renewable energy. Given that the Projects were duly optimized in the approved Indicative Generation Capacity Expansion Plan (''IGCEP') and included in the approved Power Acquisition Plan ('PAP'), the Authority has approved the BER submitted by KEL in respect of 200 MWp -AC Peak (with a +20% allowance) Site Neutral Hybrid power project at Dhabejl Grid Station. This decision shall form the basis for regulatory processing of the tariff petition in accordance with the applicable laws, rules, and regulations. On integration plan, NEPRA said that keeping in view the material implications of commercial allocation of existing PPM / ERAs, Plan for KE's integration is subject to finalization of commercial allocation of existing PPAs/ EPAs and mechanism for capacity invoicing for supply from National Grid, at the time of commencement of CTBCM, as well as other areas which need to be firmed up as part of CTBCM implementation phase, detailed in the Plan. As detailed in Section 2.2.2 of the Plan, KR's current MYT is for a 7-year tariff control period, expiring on June 30, 2023. As per the CTBCM detailed design and also detailed in plan, ICE shall participate in CTBCM in various service providers as well as market participants. In order to align with the framework which proposes central despatch, KE, as part of the implementation phase shall evaluate appropriate tariff structure, agree on key principles with NEPRA and will accordingly file its tariff petition with NEPRA by July 2022. Copyright Business Recorder, 2025
Time of India
27-05-2025
- Business
- Time of India
Kunnukuzhy abattoir's trial run to begin on June 5
T'puram: The trial run for the abattoir at Kunnukuzhy in the state capital is set to begin on June 5. The official commissioning of the project will also take place in June. According to corporation secretary, Jahamgeer S, all works related to the abattoir have been completed and only minor works are pending at the bio-filter component. Tired of too many ads? go ad free now "We have decided to start a trial run on June 5. The abattoir will be fully operational in June itself after an inauguration," he said. Kerala Electrical and Allied Engineering Company is entrusted with the construction. Major infrastructure components, including the slaughterhouse and the biofilter system, have already been completed. Additionally, the corporation plans to establish a cold storage outlet on the premises to provide fresh meat directly to the public. Estimated at Rs 10 crore, the slaughterhouse was originally slated for completion in April 2022. Despite being handed over to KEL to accelerate construction, delays persisted, primarily due to design flaws and issues with the effluent treatment plant proposed by the Suchitwa Mission. Last year, corporation allocated Rs 73 lakh from its plan fund to revive the project. The biofilter component alone, critical for waste management, was awarded to MR Farms at a cost of Rs 2.49 crore. Opposition parties had earlier alleged that the work on the state-of-the-art abattoir project got delayed inordinately due to the corporation's lapses in disbursing funds to contractors in time. Once operational, Kunnukuzhy abattoir will have the capacity to process 120 animals simultaneously using modern waste disposal systems.
Entrepreneur
14-05-2025
- Automotive
- Entrepreneur
Kinetic Engineering Grants Brand License to KWV to Drive EV Vision
Under the licensing agreement, KWV receives a non-exclusive right to use the Kinetic brand for three years, with provisions for renewal based on market and strategic alignment. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Kinetic Engineering Limited (KEL), a pioneer in India's automotive landscape, has announced the official grant of its iconic Kinetic brand license to its subsidiary, Kinetic Watts and Volts Ltd. (KWV), marking a bold step into the electric vehicle (EV) era. Incorporated on September 27, 2022, KWV was created with the mandate to explore alternative mobility solutions, particularly in the EV space. With this development, KWV is poised to unveil its EV product portfolio and go-to-market strategy. The move signals the company's readiness to commence commercial operations, supported by robust partnerships and a clear roadmap to cater to the growing demand for sustainable mobility in India. KEL, alongside other promoters, has invested INR 42.83 crore in KWV and plans to infuse an additional INR 29 crore shortly. This will bring the total investment to INR 71.83 crore and increase KEL's ownership in KWV to 80%, reinforcing its strategic commitment to electric mobility. Ajinkya Firodia, Vice Chairman and Managing Director, Kinetic Engineering Ltd, said, "The Kinetic brand has been a symbol of innovation, trust, and progress for over five decades. As we step into the electric era, we are excited to see Kinetic Watts and Volts carry this proud legacy forward. This license is not just a business arrangement – it's the handover of a rich heritage into capable hands, committed to shaping the future of mobility." Under the licensing agreement, KWV receives a non-exclusive right to use the Kinetic brand for three years, with provisions for renewal based on market and strategic alignment. This partnership will allow KWV to build on Kinetic's brand equity while developing cutting-edge EVs tailored for the Indian consumer. Meanwhile, Kinetic Group is deepening its EV ecosystem presence, supplying critical components such as gearboxes and axles, and has also entered the battery manufacturing sector under its "Range X" brand. This milestone marks Kinetic's strong push towards redefining mobility for India's electric future.
Time of India
14-05-2025
- Automotive
- Time of India
Kinetic Engineering grants license to Kinetic Watts and Volts for EV expansion
Kinetic Engineering Limited (KEL) has granted a brand license to its subsidiary, Kinetic Watts and Volts Ltd. (KWV), to utilise the Kinetic brand in the electric vehicle (EV) sector. KWV, established in September 2022, is preparing to launch its EV product line, rollout strategy, partnerships, and market plans, backed by a ₹71.83 crore investment from KEL and other promoters. With this, KEL will hold an 80 per cent stake in KWV. This move allows KWV to leverage the Kinetic brand's legacy in the rapidly expanding Indian EV market , while KEL continues to be a key supplier of EV components and expands into battery manufacturing under the "Range X" brand. Under the agreement, KWV will have the non-exclusive right to use the Kinetic brand name and trademarks for its EV business. Ajinkya Firodia , Vice Chairman & Managing Director, Kinetic Engineering Ltd., said: 'This license is not just a business arrangement – it's the handover of a rich heritage into capable hands, committed to shaping the future of mobility. We believe that by combining our iconic brand with cutting-edge electric technology, Kinetic Watts and Volts will create products that resonate deeply with Indian consumers and set new benchmarks in the EV space.' The initial term of this agreement is three years, post which there will be a review to ascertain if they align with the group's long-term vision, market conditions, and any potential expansion into new areas or international markets.
NDTV
14-05-2025
- Automotive
- NDTV
Kinetic Engineering Grants Brand License To EV Arm Kinetic Watts And Volts; Marks Strategic Push Into Electric Mobility
In a significant move underscoring its transition into the electric vehicle (EV) space, Kinetic Engineering Limited (KEL), one of India's pioneering names in the automotive sector, has announced that it has officially granted brand licensing rights to its wholly owned subsidiary, Kinetic Watts and Volts Ltd. (KWV). Formed on September 27, 2022, KWV was established with a clear mandate to explore emerging opportunities in the EV segment. The subsidiary is now preparing to unveil its product lineup, go-to-market strategy, and partnership roadmap, signalling its entry into the commercial phase of operations. The licensing agreement, valid for an initial period of three years, grants KWV the non-exclusive rights to use the iconic Kinetic brand name and trademarks in its electric vehicle business. The move allows the fledgling EV company to capitalise on the legacy and goodwill of the Kinetic group. Kinetic Engineering, along with other promoters, has already infused Rs. 42.83 crore into KWV and has committed to releasing an additional Rs. 29 crore soon. This will bring the total investment to Rs. 71.83 crore, giving KEL an 80 per cent stake in the EV-focused entity. The capital injection is expected to bolster KWV's product development and operational readiness as it readies for its market debut. Ajinkya Firodia, Vice Chairman and Managing Director of Kinetic Engineering Ltd., commented on the development, stating: "The Kinetic brand has stood for trust, innovation, and progress for more than 50 years. As we transition into a new era of electric mobility, it is a proud moment for us to see Kinetic Watts and Volts carry this legacy forward. This is not just a licensing arrangement; it's a generational handover that aligns with our mission to shape the future of transportation in India." Kinetic Engineering, known for its manufacturing of essential EV components such as gearboxes, axles, and chassis, continues to play a vital role in India's evolving EV supply chain. In a further push to diversify its presence in the electric mobility space, the Kinetic Group has also recently forayed into battery manufacturing under a new entity branded as "Range X." At the conclusion of the initial licensing term, KEL and KWV are expected to revisit and potentially renew the agreement, taking into account evolving market conditions, international expansion opportunities, and the group's long-term strategy. The brand licensing announcement is a pivotal step in Kinetic Group's evolution from a traditional two-wheeler powerhouse into a forward-looking player in India's fast-growing EV sector.
