Month: February 2025

Indian oil firms are discussing long-term LNG purchases with US suppliers ahead of Prime Minister Modi’s meeting with President Trump. Companies like Indian Oil Corp. are under pressure to secure deals but seek favorable terms. The talks coincide with India’s efforts to curb reliance on dirtier fuels and align trade balances with the US.

India is considering increasing energy imports from the US as Prime Minister Modi prepares to meet President Trump. Challenges include competitive pricing and higher shipping costs due to distance. Long-term US LNG deals are scarce and linked to the Henry Hub benchmark, which Indian buyers find volatile. Despite these hurdles, strategic discussions are ongoing.

Clean Core Thorium Energy, a US nuclear fuel startup, raised $15.5 million in funding over two rounds, with the latest closing in December 2024. The funds support commercialization of its ANEEL fuel for use in India’s reactors, in partnership with NTPC Ltd and L&T, pending regulatory approvals.

Jindal Nuclear plans to invest about Rs 1.80 lakh crore for building 18GWe of nuclear power capacity in India over the next two decades. This initiative aligns with the Government of India’s goal of achieving 100GWe of nuclear power by 2047. These projects will use advanced technologies, create jobs, and support sustainable economic growth.

JSW Group Chairman Sajjan Jindal announced a Rs 16,000 crore investment to develop a 1,600 MW power project in Salboni, West Bengal, with plans to double its capacity in the future. The project will boost JSW Energy’s total generation capacity to 30 GW, aiming for 20 GW by 2030, further solidifying its position as a leading private-sector power producer.

Tata Power aims to enter the small modular nuclear reactor market, contingent on policy shifts and amendments to the Atomic Energy Act. CEO Praveer Sinha highlights potential customers like Tata Steel and Tata Motors. The company also plans to divest $1 billion in non-core international assets, focusing more on the Indian power sector and expanding its rooftop solar market share.

JSW Steel, Jindal Steel and Power, and numerous other companies have submitted a total of 70 bids for 20 coal blocks in the 11th round of commercial mining auctions. Among the companies, more than 15 new entrants, including a Coal India subsidiary, participated for the first time.

The Delhi High Court overturned the 2019 arbitral award directing NTPC to pay Rs 1891 crore damages to Jindal ITF Ltd for alleged wrongful termination of a coal transportation agreement. The court noted the award was patently illegal and violated public policy. The dispute centered on delays and responsibilities in the construction and transportation operations at NTPC’s Farakka plant.

Russian nuclear firm Rosatom has offered India its expertise in building small modular reactors (SMRs) and may explore setting them up in coastal areas. This collaboration could be a significant step toward achieving India’s target of 100 GW of nuclear energy by 2047.

In January, India’s power consumption rose by just 2.7% to 137.49 billion units due to reduced use of heating appliances amid warmer temperatures. The peak power demand also reached 237.30 GW. Above-normal temperatures and below-normal rainfall are predicted for February, indicating further subdued power demand.