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.

Bihar is actively engaging with NTPC Ltd to establish a nuclear power plant in Nawada district, according to Chief Secretary Amrit Lal Meena. The state has also requested the Power Ministry to consider Bihar for a nuclear project, potentially utilizing water from the Phulwaria dam.

Reliance Industries imported about 532,700 barrels per day (bpd) of Russian oil in March, marking a 17.3% increase from February, according to ship-tracking data. Russian crude made up 48.5% of Reliance’s total imports. However, overall crude imports fell by 19% to 1.1 million bpd due to an upcoming refinery maintenance shutdown.

India and Saudi Arabia are discussing joint refinery and petrochemical projects. They are also studying electricity grid connectivity. Saudi Arabia wants to increase oil exports to India due to China’s slowing demand. They might offer crude oil at lower rates. Saudi Aramco is considering investments in Indian refinery projects.

West Bengal Chief Minister Mamata Banerjee laid the foundation for a 1,600 MW ultra-supercritical thermal power plant by JSW Energy in Salboni, marking a significant stride in the state’s industrial growth. The project, with an investment of Rs 16,000 crore, is expected to generate 15,000 jobs and boost the state’s power generation capacity.

JSW Energy is investing Rs 16,000 crore in West Bengal to establish a 1,600-MW ultra-supercritical thermal power plant in Salboni, its largest greenfield project. Company officials highlight the project’s cost-effectiveness at Rs 10 crore per MW. JSW Energy is also planning a pumped storage project in Purulia, potentially adding 900-1,000 MW.

India’s oil and gas exploration policies, NELP and OALP, attracted significant investment, leading to numerous discoveries. While NELP faced challenges like clearance delays and cost recovery disputes, HELP’s revenue-sharing model aimed to improve ease of business. Recent OALP rounds and the DSF policy continue to drive exploration and development in the sector.