NTPC, SJVN, Hinduja Win RUMSL's Phase II Solar Auction

10 Aug 2023 CW Team

The winning bidders in Rewa Ultra Mega Solar's (RUMSL) auction for the construction of a 300 MW floating solar park (Phase II) in the Omkareshwar reservoir in Madhya Pradesh are NTPC Renewable Energy, SJVN Green Energy, and Hinduja Renewables Energy.

SJVN Green Energy won 90 MW by bidding $3.79 (about $0.0458 per kWh), NTPC Renewable Energy won 80 MW at $3.80 (about $0.0459 per kWh), and Hinduja Renewables Energy won 80 MW with the price of $3.89 (about $0.0470 per kWh), according to Mercom sources. The project's tender was floated in April of this year by RUMSL, a joint venture between the Solar Energy Corporation of India and the Madhya Pradesh Urja Vikas Nigam.

After it was first put up for auction in November 2022, where the same firms obtained various capacities at substantially cheaper prices, the capacity under Phase I was retender.

Three units of grid-connected floating solar photovoltaic projects make up the expected 300 MW capacity of the floating solar park under Phase ll.

The projects must be built on a build-own-operate basis by the winners.

Infrastructure Urban

16 May 2025

TCS To Deploy BaNCS鈩� Insurance Platform for Dhofar Insurance

Tata Consultancy Services (TCS), a global IT services and consulting leader, is partnering with Dhofar Insurance Company (DIC), Oman鈥檚 largest insurance provider, to transform its core insurance platform. DIC will implement TCS鈥� flagship product, TCS BaNCS鈩� for Insurance, to enhance customer and advisor experience across life, medical, general, and motor insurance lines.Founded in 1989, Dhofar Insurance holds over eighteen per cent market share in Oman鈥檚 general insurance sector. The collaboration aims to harmonise multiple product lines, improve business agility, and accelerate new pr..

Building Material

16 May 2025

Manoj Ceramics Expands Exports via Strategic African Partnerships

Manoj Ceramics Ltd (MCPL), a ceramic tiles and adhesives manufacturer, has expanded its global footprint through new international alliances across Africa. As part of its export-led strategy, the company appointed regional ambassadors in Burundi, Sudan, Senegal, and Angola to secure high-volume institutional projects.In December 2024, MCPL partnered with the Government of Burundi for exclusive tile supply contracts, entering into a sovereign-level agreement. Sudan engagement in February 2025 focused on institutional buyers, aligning with urban infrastructure growth. In Senegal, MCPL tapped loc..

Infrastructure Urban

16 May 2025

Ather Energy Reports Rs 23,050 Mn Income and 42% Volume Growth

Ather Energy Ltd, a leading player in India鈥檚 electric two-wheeler segment, reported strong operational and financial performance for the year ended thirty-first March 2025. Vehicle sales rose by forty-two per cent to 1,55,394 units. Total income increased by twenty-nine per cent year-on-year to Rs 23,050 million.The Adjusted Gross Margin more than doubled to nineteen per cent in FY25 from nine per cent in FY24. Adjusted gross profit grew to Rs 4,280 million due to cost optimisation, strategic sourcing, and scale efficiencies. Earnings Before Interest, Depreciation, Tax and Amortisation (EBI..