AESL’s profit after tax surged 87% year-on-year to Rs 714 crore in the March quarter, while total income rose 36% to Rs 6,596 crore. For the fiscal year ended March 31, profit after tax soared 103% to Rs 2,427 crore and total income grew 42% to Rs 24,447 crore. Total orderbook stood at Rs 60,000 crore as of March-end.

India is considering expediting five hydroelectric power projects in Jammu & Kashmir, potentially bypassing the Indus Waters Treaty (IWT) clearance process. This move aims to boost J&K’s power generation by 4000MW and enhance India’s strategic control over western river water resources. The projects, including Bursar, Dulhasti II, Swalkote, Uri Stage II, and Kirthai II, could be completed in 3-5 years.

India is set to overhaul its power sector regulations, prompted by NITI Aayog’s study on the effectiveness of electricity regulatory commissions (ERCs). The study aims to strengthen these institutions to handle the evolving electricity landscape, including new market entrants and technologies.

Reliance’s profit edged up by 2% year-on-year, although its oil-to-chemicals segment faced challenges due to weak transportation fuel cracks and downstream chemical market imbalances, resulting in multi-year low margins. The oil and gas business achieved record EBITDA, driven by increased production from KGD6 and CBM blocks, despite a slight revenue decrease due to lower gas production.

India is considering allowing foreign companies to hold up to a 49% stake in its nuclear power plants, according to government sources. This move aims to boost nuclear capacity and reduce reliance on coal as part of the country’s carbon reduction goals.

NHPC’s Parbati-III Power Station is projected to see a significant revenue boost of Rs 224.70 crore following the commencement of operations at the 800-MW Parbati-II project in Himachal Pradesh. Power generation at Parbati-III is expected to increase substantially in 2025-26, driven by the operationalization of the Parbati-II hydroelectric project.

THDC India has successfully synchronized the first 250 MW unit of its 1,000 MW pumped storage plant at Tehri in pump condenser mode to the Indian grid. This achievement marks a significant step towards commissioning India’s first variable speed PSP. Upon completion, the Tehri hydro power complex will boast a total installed capacity of 2,400 MW.

As Western sanctions pressure Russia’s oil exports, three more Russian insurers, including Sberbank Insurance, seek India’s approval for marine insurance on oil shipments. This move aims to maintain deliveries to India, Russia’s top oil buyer, despite growing scrutiny and a G7 price cap. India is evaluating the applications, potentially increasing the number of approved Russian insurers to eight.

Indian energy importers, including Gail India and Indian Oil Corp, are increasingly turning to cheaper oil products like naphtha and propane due to elevated LNG prices caused by outages at export plants. This shift, resulting in lower LNG imports, frees up supply for other Asian and European buyers.

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.