Saudi Arabia is partnering with Indian companies to establish two refineries in India, each with a 9 million tonnes per year capacity. Aramco may invest ₹18,000 crore for a 26% equity stake in both projects. This renewed effort follows previous setbacks in securing a foothold in India’s refining sector, with talks ongoing regarding crude supply terms.

Private entity Adani Hydro Energy Five Ltd has entered into a power purchase agreement (PPA) with Uttar Pradesh Power Corporation for supply of 1,250 MW energy storage capacity. Adani Hydro Energy Five Ltd is a wholly owned step down subsidiary of Adani Green Energy Ltd (AGEL).

The All India Power Engineers Federation (AIPEF) has urged the government to halt the privatization of electricity distribution companies (discoms) in Uttar Pradesh and Chandigarh. AIPEF argues that discoms should remain in the public sector for the benefit of consumers and employees, highlighting improved viability and reduced losses in the public sector.

Megha Engineering & Infrastructure Ltd (MEIL) has secured a significant order worth Rs 13,000 crore from the Nuclear Power Corporation of India Ltd (NPCIL) to supply two 700 MW nuclear reactors. This marks MEIL’s entry into the nuclear energy sector, with the project involving the construction of Kaiga Units 5 & 6 in Karnataka.

India and Saudi Arabia have agreed to collaborate on stabilising global oil markets and balancing energy dynamics, emphasising the security of supply for all energy sources. They will also cooperate in green hydrogen, climate change initiatives, and the circular carbon economy.