Latest news with #PowerPurchaseAgreement
Business Upturn
an hour ago
- Business
- Business Upturn
PNC Infratech share jump 5% after winning NHPC's 300 MW solar energy project
PNC Infratech shares surged 5% in morning trade on July 17 after the company announced a significant win in the renewable energy space. As of 9:26 AM, the shares were trading 5.86% higher at Rs 329.50. On July 16, the company said it had emerged as one of the lowest bidders (L1) for a major solar power project floated by NHPC Limited. The project involves setting up a 300 MW ISTS-connected solar plant along with a 150 MW / 600 MWh energy storage system (ESS), to be developed anywhere in India. This contract was part of NHPC's larger bid for 1,200 MW of solar capacity with storage, offered under the Tariff-Based Competitive Bidding route. PNC secured its allocation at a tariff of ₹3.13 per kilowatt-hour, following an online reverse auction held a day prior to the announcement. The company will have 24 months from the signing of the Power Purchase Agreement to begin supply, and the agreement will run for a 25-year term. This development marks another key milestone for PNC in its renewable journey and signals its growing focus on clean energy projects. Investors responded positively, pushing the stock higher as the deal adds strength and visibility to its green energy portfolio. 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
Borneo Post
20 hours ago
- Business
- Borneo Post
OTSM launches RM2 bln polysilicon plant construction in Bintulu, eyes 2029 operations
Abang Johari (centre) and other dignitaries officiate the groundbreaking ceremony for the OTSM plant. SAMALAJU (July 16): OCI Tokuyama Semiconductor Materials Sdn Bhd (OTSM) has officially launched the construction of its RM2 billion semiconductor-grade polysilicon plant at the Samalaju Industrial Park, marking a major milestone in Sarawak's industrialisation push. The facility, spanning 13.7 hectares, will have an annual production capacity of 8,000 metric tonnes of high-purity polysilicon for the semiconductor industry, targeting export markets in South Korea, Japan, and Taiwan. Operations are expected to commence in 2029. Construction is set to begin in the third quarter of this year, with mechanical completion projected for the first quarter of 2027. OTSM is a 50:50 joint venture between South Korea's OCI TerraSus Sdn Bhd, a wholly owned subsidiary of OCI Holdings, and Japan's Tokuyama Corporation. The project is expected to create around 200 high-value jobs, contributing to Sarawak's economic growth and the development of its technical workforce. This marks OCI TerraSus' second major investment in Sarawak, following the launch of its joint venture with Kumho P&B Chemicals – OCI Kumho – to produce epichlorohydrin (ECH), a key component in epoxy resins and water treatment chemicals. During the groundbreaking ceremony, Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg witnessed the signing of a 10-year Power Purchase Agreement (PPA) between OCI TerraSus and Syarikat Sesco Berhad, the operations and retail arm of Sarawak Energy. Under the agreement, the new plant will receive 80 megawatts of power from Sarawak Energy for a 10-year period starting in 2029. OCI Holdings and OCI TerraSus Chairman Lee WooHyun said the joint venture between OCI TerraSus and Tokuyama was especially meaningful, bringing together industrial powerhouses from Korea and Japan in a rare international collaboration. 'It is a powerful reflection of our strong confidence in Sarawak as a strategic investment destination. 'We believe this plant is more than just a physical structure, it is a symbol of what can be achieved when vision, values, and partnerships align. 'It stands as a model for innovation, sustainability, and meaningful local impact,' he said. Lee said the investment also reflects confidence in Sarawak's leadership, stability, and long-term vision under the Post Covid-19 Development Strategy 2030. 'We are confident that our OTSM plant will play a pivotal role in achieving this vision by creating high-quality jobs and transferring global best practices. 'We are grateful to the Sarawak Government and Sarawak Energy Berhad for creating an ecosystem that welcomes responsible industrial growth. 'Their strategic policies and renewable energy infrastructure are key enablers of this international partnership,' he said. He also emphasised the importance of developing a skilled local workforce, highlighting institutions such as Centexs and the Sarawak Skills Development Centre as key partners. 'OCI TerraSus is proud to deepen our roots in Sarawak. This is not just an investment in infrastructure, it is an investment in people, in innovation, and in a shared future built on sustainability and trust,' Lee added. In a recorded message, Tokuyama Corporation President Hiroshi Yokota said the project would further strengthen Sarawak's role in the global semiconductor supply chain. 'With the seasoned technical expertise and experience of OCI and Tokuyama, along with the support of the Sarawak state government, the region's talented workforce, and competitive energy source, we will be able to produce high-quality products consistently,' he said. lead OTSM polysilicon plant Samalaju Semiconductor
Time of India
a day ago
- Business
- Time of India
Juniper Green Energy signs PPA with NHPC for 250 MW hybrid renewable project to supply Haryana
New Delhi: Juniper Green Energy Limited, through its subsidiary Juniper Green Cosmic Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with NHPC for a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project. The agreement was signed on June 28, 2025. As per the agreement, the renewable energy project will comprise a mix of solar, wind, and Battery Energy Storage System (BESS) and will supply power to the Haryana Power Purchase Centre (HPPC) on behalf of the state's distribution companies—Dakshin Haryana Bijli Vitran Nigam Limited and Uttar Haryana Bijli Vitran Nigam Limited. The project is scheduled to begin power supply from June 2027. "We are proud to partner with NHPC again on this FDRE project," said Ankush Malik, Chief Executive Officer, Juniper Green Energy. "This PPA demonstrates our capability to undertake and deliver complex renewable projects that allows us to align with the country's goal for sustainable and reliable power." Juniper Green Energy was the second-largest bidder in terms of total capacity awarded in Wind-Solar Hybrid (WSH) and FDRE tenders conducted between April 1, 2021 and December 31, 2024. In December 2024, its subsidiary Juniper Green Light Ten Private Limited signed a PPA with NHPC for a 200 MW FDRE project to supply power to the state of Uttar Pradesh.
Business Upturn
a day ago
- Business
- Business Upturn
KPI Green Energy shares climb over 3% after winning 150 MW wind power project from GUVNL
By Aditya Bhagchandani Published on July 16, 2025, 10:06 IST Shares of KPI Green Energy Ltd rose over 3% on Wednesday, July 16, trading at ₹558.10 on NSE at 10:02 AM — up ₹18.05 from the previous close of ₹540.05 — after the company announced it has secured a major wind power project order from Gujarat Urja Vikas Nigam Limited (GUVNL). The stock touched a day's high of ₹563.00 and a low of ₹537.00 during the session, with a market capitalization of about ₹109.92 billion and a P/E ratio of 34.56. Average daily trading volume stood at about 1.07 million shares. Order details On July 15, KPI Green Energy disclosed it has received a Letter of Intent (LOI) from GUVNL for the development of a 150 MW grid-connected wind power project. This follows the company's successful bid in GUVNL's competitive tender (Phase IX) issued in January 2025, which included a reverse auction held in April 2025. The project aligns with KPI's strategic vision of achieving 10 GW capacity by 2030, showcasing the company's growing capabilities in renewable energy and its strong positioning in India's clean energy transition. According to the company's filing, the project will proceed as per the timeline and terms outlined in the GUVNL tender. The Power Purchase Agreement (PPA) will be signed upon obtaining approval from the Gujarat Electricity Regulatory Commission (GERC). About the company KPI Green Energy specializes in developing, owning, and operating renewable energy assets, with a focus on both solar and wind projects across India. Investor sentiment turned positive after the announcement of the large-scale project win, reflecting confidence in the company's growth trajectory. 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. The author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
2 days ago
- Business
- Time of India
KPI Green Energy to develop 150 MW wind power projects in Gujarat
KPI Green Energy Ltd , the solar and hybrid energy arm of the KP Group, has secured a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) to develop 150 megawatts (MW) of wind power projects in Gujarat . The LoI was awarded following KPI Green Energy 's successful participation in a competitive bidding process initiated by GUVNL, specifically under its 'Wind Phase IX' tender. The company emerged as a successful bidder in a reverse e-auction held on April 22, 2025. While the LoI is a crucial step, the formal Power Purchase Agreement (PPA) with GUVNL will be executed only after obtaining the necessary approvals from the Gujarat Electricity Regulatory Commission (GERC). GERC is the state regulatory body responsible for overseeing the electricity sector in Gujarat, including the approval of power purchase agreements to safeguard consumer interests and ensure a stable energy supply. The company aims to scale its overall renewable energy capacity to 10 GW by 2030, and this 150 MW wind power project represents a key step towards achieving that ambitious target.
