Latest news with #Tariff-BasedCompetitiveBidding
Mint
30-07-2025
- Business
- Mint
3020% rally in five years! This multibagger stock hits 5% upper circuit, 52-week high on Q1 results
Shares of GE Vernova T&D India hit its 5 percent upper circuit on Tuesday at ₹ 2,604.25, also marking its 52-week high, after the company announced strong financial performance for the quarter ended June 2025 (Q1FY26). The rally came on the back of robust earnings and a sharp uptick in order inflows, reaffirming investor confidence in the power transmission player's growth trajectory. GE Vernova T&D India reported a 117.2 percent year-on-year rise in net profit to ₹ 291 crore in the June quarter, compared to ₹ 134 crore in the corresponding quarter of FY25. Revenue from operations stood at ₹ 1,330 crore, registering a solid 38.8 percent YoY growth over ₹ 958 crore a year ago. The company's operating performance was equally impressive. EBITDA rose 113.2 percent YoY to ₹ 388 crore from ₹ 182 crore, while EBITDA margin expanded sharply to 29.1 percent, up from 19 percent in the same quarter last year. Order inflows continued to impress, with GE Vernova T&D India securing ₹ 1,620 crore worth of new orders during Q1FY26 — a 57 percent increase over the ₹ 1,030 crore reported in Q1FY25. The orders spanned both domestic and international markets, reinforcing its strong market positioning in the power transmission and grid automation segment. During the quarter, the company received several major orders, including contracts from private TBCB (Tariff-Based Competitive Bidding) developers for the supply of 765 kV transformers and reactors in Rajasthan and Gujarat. It also won a contract from Bharat Heavy Electricals Ltd (BHEL) for supplying 420 kV GIS equipment in Madhya Pradesh. In addition, the company secured an order from a private EPC player in Maharashtra for 420/245 kV GIS and won multiple orders from various EPC players for 765 kV AIS equipment and grid automation solutions. GE Vernova also made strong inroads into global markets with several export orders for AIS and GIS equipment from clients across Europe, South-East Asia, the Middle East, and Africa, demonstrating its growing international footprint. Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India, stated, 'We delivered a strong and productive first quarter of FY2025-26, driven by continued momentum as India modernises its grid to improve reliability, accommodate renewable energy sources, and meet increasing electricity demands from various sectors.' GE Vernova T&D India's share price has been on a remarkable upward trajectory. With today's move, the stock has surged 108 percent from its 52-week low of ₹ 1,252.85, touched in April 2025. Over the past five years, the stock has delivered multibagger returns of 3,020 percent, firmly establishing itself as one of the top wealth creators in the power equipment sector. In the past one year alone, the stock has jumped over 57 percent. Its rally continued into July with a 10 percent gain so far, marking the fifth consecutive month of positive returns. It had climbed 5.3 percent in June, 43 percent in May, 0.5 percent in April, and 16.5 percent in March. The stock had, however, seen a weak start to the year, declining 25 percent in February and 14 percent in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
17-07-2025
- Business
- Economic Times
PNC Infratech shares rise 5% after emerging as lowest Bidder for NHPC solar power project
Shares of PNC Infratech jumped 5% to Rs 327 in Thursday's trading session after the company announced it had been declared as one of the Lowest (L1) Bidders for a significant renewable energy project floated by NHPC Limited. ADVERTISEMENT On July 16, 2025, the company announced through an exchange filing under SEBI's Listing Regulations that it had secured a key allocation in NHPC's large-scale tender for 1,200 MW of ISTS-connected solar power projects, combined with 600 MW/2400 MWh of energy storage systems (ESS). The contract was awarded via the Tariff-Based Competitive Bidding (TBCB) process at a quoted tariff of Rs 3.13 per kWh. As part of this tender, PNC Infratech has been awarded a 300 MW solar project, along with a 150 MW / 600 MWh energy storage system, to be developed anywhere in India under ISTS guidelines. The award was finalized via an online reverse auction held on 15th July 2025. Awarding Agency: NHPC Limited (as Renewable Energy Implementing Agency) Project Size: 300 MW solar + 150 MW / 600 MWh energy storage Quoted Tariff: Rs 3.13/kWh Execution Timeline: Project supply to begin within 24 months from PPA signing; PPA tenure is 25 years This win marks another strategic step for PNC Infratech in the clean energy space, aligning with India's accelerating push toward renewable energy capacity expansion. The stock had touched its 52-week high of Rs 534 on 16th July 2024, while the 52-week low stands at Rs 240, indicating a wide trading range over the past year. From a technical standpoint, the stock is in a bullish zone, trading above all 8 key Simple Moving Averages (SMAs) — from the short-term 5-day SMA to the long-term 200-day SMA. This alignment typically reflects sustained upward momentum and continued investor confidence in the stock's price action. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
17-07-2025
- Business
- Time of India
PNC Infratech shares rise 5% after emerging as lowest Bidder for NHPC solar power project
Shares of PNC Infratech jumped 5% to Rs 327 in Thursday's trading session after the company announced it had been declared as one of the Lowest (L1) Bidders for a significant renewable energy project floated by NHPC Limited . On July 16, 2025, the company announced through an exchange filing under SEBI's Listing Regulations that it had secured a key allocation in NHPC's large-scale tender for 1,200 MW of ISTS-connected solar power projects, combined with 600 MW/2400 MWh of energy storage systems (ESS). The contract was awarded via the Tariff-Based Competitive Bidding (TBCB) process at a quoted tariff of Rs 3.13 per kWh. Explore courses from Top Institutes in Select a Course Category CXO Data Science Digital Marketing Others MCA healthcare Degree Finance Leadership Data Science others MBA Healthcare Project Management Public Policy Technology PGDM Data Analytics Operations Management Management Product Management Artificial Intelligence Cybersecurity Skills you'll gain: Digital Strategy Development Expertise Emerging Technologies & Digital Trends Data-driven Decision Making Leadership in the Digital Age Duration: 40 Weeks Indian School of Business ISB Chief Digital Officer Starts on Jun 30, 2024 Get Details Skills you'll gain: Customer-Centricity & Brand Strategy Product Marketing, Distribution, & Analytics Digital Strategies & Innovation Skills Leadership Insights & AI Integration Expertise Duration: 10 Months IIM Kozhikode IIMK Chief Marketing and Growth Officer Starts on Apr 7, 2024 Get Details Skills you'll gain: Operations Strategy for Business Excellence Organizational Transformation Corporate Communication & Crisis Management Capstone Project Presentation Duration: 11 Months IIM Lucknow Chief Operations Officer Programme Starts on Jun 30, 2024 Get Details Skills you'll gain: Technology Strategy & Innovation Emerging Technologies & Digital Transformation Leadership in Technology Management Cybersecurity & Risk Management Duration: 24 Weeks Indian School of Business ISB Chief Technology Officer Starts on Jun 28, 2024 Get Details As part of this tender, PNC Infratech has been awarded a 300 MW solar project, along with a 150 MW / 600 MWh energy storage system, to be developed anywhere in India under ISTS guidelines. The award was finalized via an online reverse auction held on 15th July 2025. Key Details of the Award: Awarding Agency: NHPC Limited (as Renewable Energy Implementing Agency) Project Size: 300 MW solar + 150 MW / 600 MWh energy storage Quoted Tariff: Rs 3.13/kWh Execution Timeline: Project supply to begin within 24 months from PPA signing; PPA tenure is 25 years This win marks another strategic step for PNC Infratech in the clean energy space, aligning with India's accelerating push toward renewable energy capacity expansion. Price and Technical Overview The stock had touched its 52-week high of Rs 534 on 16th July 2024, while the 52-week low stands at Rs 240, indicating a wide trading range over the past year. From a technical standpoint, the stock is in a bullish zone, trading above all 8 key Simple Moving Averages (SMAs) — from the short-term 5-day SMA to the long-term 200-day SMA. This alignment typically reflects sustained upward momentum and continued investor confidence in the stock's price action.
Time of India
11-07-2025
- Business
- Time of India
Green nod for ₹26,000 crore transmission projects to boost Rajasthan's solar ambitions
In a major boost to Rajasthan's renewable energy sector, the Rajasthan Vidyut Prasaran Nigam Ltd (RVPN) has approved long-pending transmission infrastructure proposals aimed at easing evacuation bottlenecks that have hampered solar and wind energy projects across the state. The board of RVPN, the state's transmission utility, cleared proposals worth over ₹26,000 crore for developing 15 new transmission lines, a move seen as critical to strengthening the state's power infrastructure and enabling large-scale integration of green energy into the grid. The approval, granted during RVPN's board meeting earlier this week, marks a turning point for many delayed solar projects that have been awaiting adequate transmission capacity. The new projects will be developed through a competitive bidding process—specifically, Tariff-Based Competitive Bidding ( TBCB )—with RVPN itself now eligible to participate as a bidder for projects exceeding ₹300 crore in value, a departure from earlier policy restrictions. Transmission boost for solar surge The 15 approved transmission projects include nine 765kV lines, four 400kV lines, and two 220kV lines, strategically planned to ensure efficient evacuation of power from renewable energy-rich zones to both intra-state and inter-state grids. These projects had been stuck for nearly three years, primarily due to financial and policy-level delays, resulting in a backlog of commissioned but idle solar capacity awaiting connectivity. Speaking to ETGovernment, Ajitabh Sharma , Principal Secretary, Energy Department & Chairman , RVPNL, Government of Rajasthan, emphasised the strategic significance of the move, 'With the approval of ₹26,000+ crore worth of transmission projects, Rajasthan is set to strengthen its transmission network and accelerate renewable energy evacuation. Our forward-looking approach, including TBCB-mode execution for all projects above ₹300 crore, will enable seamless RE integration into the grid and drive India's commitment to a greener future. This also marks a significant opportunity for the power industry.' He further underlined the immediate need for enhancing the state's power evacuation capacity, 'Without the availability of transmission capacity, the rollout of solar and wind energy projects would be impacted. The current demand for evacuation outstrips the existing transmission capacity. These projects will go a long way in removing those hurdles.' Rajasthan's renewable potential Rajasthan, with its vast tracts of arid and semi-arid land, continues to be one of India's most promising states for solar energy generation. Despite its potential, the state recently lost its top position in installed solar capacity to Gujarat. Industry experts have attributed this decline not to resource availability, but to infrastructural bottlenecks—particularly transmission limitations—that have delayed or restricted the commissioning of new projects. With over 300 sunny days a year and abundant land availability, Rajasthan has the capacity to become the hub of India's renewable energy revolution. The state government has already announced plans to attract investments in the solar and wind sectors through supportive policies and robust infrastructure development. These newly approved transmission projects are expected to complement those efforts and attract fresh investor interest. Industry opportunity and national implications The scale of the newly sanctioned projects also represents a massive opportunity for players in the power infrastructure and engineering sectors. With all projects above ₹300 crore being executed under the TBCB mode, private developers will now have the opportunity to bid for and develop critical infrastructure assets. This move aligns with the Government of India's broader push for privatization, competitiveness, and transparency in power sector operations. Moreover, as India ramps up its commitment to achieving 500 GW of non-fossil fuel capacity by 2030 under its Nationally Determined Contributions (NDCs), ensuring grid readiness becomes crucial. Rajasthan's initiative serves as a model for other states facing similar constraints in integrating renewable energy. The road ahead RVPN's proactive stance and its entry into TBCB bidding could set a precedent for other state transmission utilities to become more competitive and self-reliant. The corporation is expected to finalize tender documents and float bids for these transmission projects in the coming months, with an aim to begin groundwork by early next year. The timeline for project completion is expected to range between 18 to 36 months, depending on the scale and complexity of individual corridors. Implementation strategy and phased rollout The 15 transmission projects will be rolled out in a phased manner, prioritising regions with the highest concentration of commissioned but non-operational renewable projects. The western and northwestern districts of Rajasthan—such as Jaisalmer, Bikaner, Barmer , and Jodhpur—are set to benefit significantly, as these areas house some of the largest solar and wind energy parks in the state. To ensure efficient implementation, RVPN is also establishing a dedicated project monitoring unit. This unit will be responsible for coordinating with various stakeholders including private developers, central agencies, land acquisition authorities, and financing institutions. Emphasis will be placed on expediting clearances and ensuring right-of-way availability, which has historically been a challenge in large-scale transmission development. Financing and Private Participation Out of the ₹26,000 crore investment, a significant portion is expected to come from private players through the TBCB model, while RVPN will also explore multilateral financing options and green energy development funds to bridge any investment gaps. The competitive nature of bidding is likely to bring in major infrastructure companies, EPC contractors, and global investors looking to participate in India's renewable transition. Ajitabh Sharma emphasised that the move not only ensures efficient power evacuation but also stimulates local economic activity, 'These projects will create thousands of direct and indirect jobs, spur local industry participation, and strengthen Rajasthan's position on the national renewable energy map.' Central Government Support and Policy Synergy The announcement aligns with the Ministry of Power's recent push to accelerate renewable energy integration by improving transmission infrastructure across the country. The central government has been advocating for the timely execution of the Green Energy Corridor (GEC) Phase-II, under which Rajasthan is a key beneficiary. Coordination between state and central efforts is expected to streamline execution and avoid duplication of infrastructure. A green leap forward The greenlight to these high-value transmission projects signifies more than just infrastructure growth—it marks a foundational shift in Rajasthan's energy ecosystem. By resolving a critical bottleneck, the state is poised to regain its leadership in solar capacity, attract global investments, and contribute meaningfully to India's clean energy goals. As execution begins, all eyes will be on how swiftly and efficiently RVPN and its partners can bring these transmission lines online—unlocking the full potential of Rajasthan's sun-drenched landscape and transforming it into a powerhouse of clean, green energy.
Time of India
08-07-2025
- Business
- Time of India
Delhi HC restrains SECI from terminating power deal with Reliance NU Suntech
The Delhi High Court on Tuesday restrained Solar Energy Corporation of India (SECI) from taking any coercive action, including terminating its power purchase agreement , against Reliance NU Suntech till it decided the case. The court while issuing notice to SECI on Reliance NU Suntech's plea asked parties to maintain status quo and posted the matter for further hearing on September 17. Stating that the July 1 Show Cause Notice issued by SECI was 'perverse' and issued with a 'predetermined and premeditated mind,' Reliance NU said that its relationship with Reliance Power was fully disclosed in the bid and even the SECI's documents, letters and correspondence showed that they were aware of all material facts and circumstances. SECI and Reliance NU Suntech, a subsidiary of Reliance Power , had entered into Power Purchase Agreement (PPA) in April for setting up of 2000 MW ISTS-Connected Solar PV Power Projects with 1000 MW/4000 MWh Energy Storage Systems under Tariff-Based Competitive Bidding. Later, in July, SECI had issued a show cause notice to Reliance NU for terminating the PPA on the ground that it had not informed about the debarment of Reliance NU BESS, another Reliance Power subsidiary, in a fake bank guarantee (BG) documents case involving a different tender. SECI was fully aware of the relationship and 'correctly and consciously' considered Reliance NU to be eligible, the petition stated. 'As an afterthought after having signed the Power Purchase Agreement and taking a performance bank guarantee of Rs 377.58 crore and success fees amounting to Rs 10.04 crore, SECI has issued an illegal show cause notice, seeking to terminate the PPA of April 30,' Reliance NU submitted. 'Because suppression necessarily involves the other party being unaware of a particular fact and relying on the omission to its detriment. If the alleging party here already had full knowledge and therefore the allegation of suppression has to fail,' the petition filed through counsel Rishi Agrawala and Devika Mohan stated. In the fake GB case last year, SECI had debarred Nu Bess in November. The HC had stayed the debarment order of Reliance Power and its subsidiary companies, except for Reliance NU BESS.
