Kadapa, India, will host a steel mill

In Kadapa, Andhra Pradesh, the authorities have given their approval for investments of Rs 23,985 crore.

Partagez:

In Kadapa, Andhra Pradesh, the authorities have given their approval for investments of Rs 23,985 crore.

Local support

In Kadapa, the Andhra Pradesh State Investment Promotion Board approves JSW Steel ‘s proposal to set up a steel plant. The company informs YS Chief Minister Jagan Mohan Reddy of the investment of Rs 8800 crore. This investment will be made in two phases to set up the steel plant in Sunnapurallapalli.

In the first phase JSW Steel will invest Rs 3300 crore in the proposed plant, for one million tons of steel per year. Later, in Kadapa, the upgrade will allow the production of two million tons per year. Finally, the capacity will reach 3 million tons per year.

The agreement also mentions pumped hydro storage projects. They will come under Adani Green Energy Limited and Shirdi Sai Electricals. The Chief Minister wants to get the work started as soon as possible. For him, it is about changing the face of the backward region of Rayalaseema.

Opportunities for employment

Several thousand direct and indirect jobs will be available at this time. JSW Group is a $22 billion conglomerate engaged in steel, energy, manufacturing, cement and paint. In addition, it produces 27 million tons of steel per year.

The pumped hydroelectric storage power project amounts to 1600MW. Adani Green Energy Limited will invest Rs. 6330 crores. In addition, it will provide jobs for more than 4,000 people.

Work will begin in December 2024, with commissioning in 2028. The production will amount to approximately 4196 million units of electricity per year. In addition, the company will set up a 1200MW project in Yerravaram and a second 900MW project in Somasila.

  • Populaires ​
CNOOC partners with KazMunayGas to explore the Zhylyoi subsoil area
Uranium Energy Corp acquires 170 million shares of Anfield Energy Inc.
Longi and Pertamina launch 1.6 GW solar plant in Indonesia
Austria introduces a 20% bonus for European photovoltaic equipment
Chinese independent refiners poised to increase fuel oil imports
Invenergy and Meta expand US portfolio with an additional 791 MW
Invenergy seals four further contracts with Meta to supply nearly eight hundred megawatts of solar and wind power to the group’s data centres, lifting total cooperation between the two companies to one point eight gigawatts.
Pedro Azagra takes helm at Iberdrola, Avangrid renews its leadership team
Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
Ares Management acquires 20% of Plenitude’s capital for 2 billion euros
The US investment fund Ares Management enters Plenitude's capital by acquiring a 20% stake from Eni, valuing the Italian company at 10 billion euros and reinforcing its integrated energy strategy.
Airbus selects ENGIE to decarbonise 22 industrial sites across Europe
ENGIE secures a contract to reduce Airbus' industrial emissions in France, Germany, and Spain, targeting an 85% decrease by 2030 through various local energy infrastructures.
Alain Rhéaume steps down as Chairman of Boralex’s Board of Directors
Alain Rhéaume, Chairman of Boralex’s Board of Directors for eight years, will leave his position by December, following the appointment of his successor by the governance committee of the Canadian energy group.
Statkraft announces $292 million cuts amid European financial pressures
Norwegian group Statkraft plans an annual cost reduction of NOK2.9bn ($292 million) by 2027, citing possible job cuts amid rising financial burdens and volatility in the European energy market.
EDF establishes EDF power solutions to consolidate international low-carbon activities
EDF merges EDF Renouvelables and its International Division into EDF power solutions, led by Béatrice Buffon, to optimise its global 31 GW low-carbon energy portfolio and strengthen its international positioning.
TotalEnergies and Mistral AI Launch AI Laboratory Focused on Industrial Optimization
TotalEnergies announces a strategic partnership with Mistral AI to establish a dedicated innovation laboratory integrating artificial intelligence tools aimed at enhancing industrial efficiency, research, and customer relations.
ETC warns of trade tensions linked to clean energy supply chains
The Energy Transitions Commission warns of economic risks tied to growing protectionism around clean technologies, while calling for global consensus on carbon pricing.
Baker Hughes sells sensor division to Crane for $1.15bn
Baker Hughes has reached an agreement to sell its precision sensor product line to Crane Company for $1.15bn, thereby refocusing its operations on core competencies in industrial and energy technologies.
Baker Hughes
KKR and PSP inject $2.82bn into AEP’s US transmission network
American conglomerate American Electric Power sold 19.9% of two transmission subsidiaries to KKR and PSP Investments, raising $2.82bn to support its five-year $54bn investment plan.
Israel identifies 165 key companies in the 2025 energy tech landscape
The new mapping by Startup Nation Central identifies 165 active companies in Israel’s energy technologies, amid strong private funding and growing global market interest.
Bernard Fontana Launches 30% Cost Reduction Plan at EDF
The new CEO of EDF, Bernard Fontana, aims to achieve €1 billion in operational cost savings for the French energy giant by 2030, prioritizing industrial contracts and the national nuclear sector.
CMS Energy launches debt repurchase offer for $125 million
CMS Energy Corporation has announced a cash tender offer for debt securities totalling $125 million, issued by Consumers Energy. The offer expires on July 3, 2025, with priority given to bonds submitted before June 17, 2025.
Vermilion Energy sells U.S. assets for $87.88mn and adjusts its forecasts
Vermilion Energy is exiting the U.S. market permanently by selling its assets for C$120mn ($87.88mn), refocusing its operations on Canada and Europe while reducing its debt and investment budget.
Eni Pays €8.4 Billion to Energy-Producing Countries in 2024
In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.
Global energy investment to reach record $3.3tn in 2025, says IEA
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.
Suspicion of Collusion: Formal Investigation Launched into Czech Energy Auction
The Czech regulatory authority launches an investigation into suspected collusion involving several major actors in the awarding of a thermal power plant, putting transparency of a strategic transaction for the energy sector at stake.
DR Congo replaces cobalt export ban with quota system
The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.
European Energy secures EUR 145mn loan for wind and solar projects in Lithuania
European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS