Russian oil giant PJSC Rosneft Oil Company is in early talks with Reliance Industries for the sale of its 49.13 per cent stake in Nayara Energy, which operates a 20-million-tonnes-a-year oil refinery and 6,750 petrol pumps in India, sources said. Reliance has held preliminary talks for the acquisition of Nayara, which will help it overtake state-owned Indian Oil Corporation (IOC) to become India’s No.1 oil refiner as well as give a meaningful presence in the fuel marketing space. But the talks are at preliminary stage and there is no guarantee that they may lead to a definite deal as valuation remains a sticky ground, three sources with direct knowledge of the matter said.

Waaree Solar Americas, a wholly owned subsidiary of Waaree Energies Limited has received an order on June 27 for supply of 540MW solar modules from a renowned customer who is a developer and owner-operator of utility scale solar and energy storage projects across the United States. The order involves supply of 270MW solar modules in 2025 & 270MW solar modules in 2027-2028.

Anil Ambani’s Reliance Power Ltd is planning to set up a 1,500-MW gas-based power project overseas and is actively participating in several international tenders for its development, according to sources. Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, UAE and Malaysia as part of its selective global expansion strategy. The company has recently secured two mega power projects in Bhutan — a 500-MW solar project and a 770-MW hydropower project.

Gujarat Industries Power Company Limited has successfully commissioned 105 MW out of 600 MW Solar Power Project, located within the 2,375 MW Renewable Energy Park at Khavda, Great Rann of Kutch.

 NLC India Ltd has received a Letter of Award from NTPC Ltd for establishment of 450 MW Inter-State Transmission System (ISTS) Connected Wind-Solar Hybrid Power project in Rajasthan, the company said. According to the order secured from NTPC Ltd, NLC India would set up the 450 ISTS connected wind-solar power project, supply of hybrid power generated from the said project to NTPC Ltd for a period of 25 years under the Power Purchase Agreement (PPA).

State-owned power giant NTPC on Sunday said that its step down subsidiary NTPC Renewable Energy has fully commissioned 220-MW Shajapur Solar Project (Unit-II) after operationalising third and last part capacity of 120 MW. The NTPC Renewable Energy is an arm of NTPC Green Energy, which is a subsidiary of NTPC Ltd. 

Published on June 30, 2025