ENERGY REGULATORS
India cuts coal imports by over 9% in FY25, saving USD 6.93 billion in forex
India's coal imports saw a significant 9.2% decrease between April 2024 and February 2025, resulting in substantial foreign exchange savings. This decline, particularly in the Non-Regulated Sector, reflects the nation's push for energy self-reliance. Increased domestic coal production and reduced imports for blending by thermal power plants are driving this positive shift.
ETMarkets Smart Talk: Logistics, retail, green energy set to soar under India-UK FTA, says Charles Russell Speechlys’ Kim Lalli
As the long-awaited India-UK Free Trade Agreement edges closer to finalisation, optimism is running high across key industries. Kim Lalli, Partner at international law firm Charles Russell Speechlys and head of its India Desk, calls the FTA a “game-changer” that is poised to unlock vast opportunities for cross-border collaboration.
Canada breaking? Danielle Smith risks losing her base as Alberta separatists push early vote on independence
As Premier Danielle Smith urges patience with Ottawa, Alberta separatists are racing ahead with a referendum plan to break away from Canada. With growing grassroots pressure and 600,000 signatures in sight, Smith faces a political reckoning from inside her own United Conservative Party, risking internal revolt over Alberta independence
Gensol Engineering shares in focus after founders Anmol and Puneet Singh Jaggi resign
Gensol Engineering’s top executives Anmol and Puneet Jaggi resigned following Sebi’s interim order over alleged fund diversion and corporate misconduct. The Rs 978 crore loan meant for EV procurement was allegedly misused, triggering probes by Sebi, the Ministry of Corporate Affairs, and state lenders. Gensol’s stock has crashed 59% in a month amid mounting regulatory and legal troubles.
How much fruit and veg should you eat to reduce your diabetes risk? Experts weigh in
Wondering how much fruit and veggies to eat to lower your diabetes risk? Experts recommend consuming five portions daily for a balanced diet that can reduce the chances of developing heart disease, stroke, and diabetes. Learn which fruits and vegetables can boost your health and protect you against chronic conditions, plus tips on managing blood sugar levels.
Gensol founders Anmol Singh Jaggi and Puneet Singh Jaggi resign
Gensol Engineering's Managing Director Anmol Singh Jaggi and Whole-time Director Puneet Singh Jaggi have resigned, effective May 12, following a SEBI order. The regulatory action bars them from securities markets due to accusations of siphoning loan funds for personal use. This raises concerns about corporate governance within Gensol Engineering and their electric mobility venture, BluSmart Mobility.
Electricity bills of power consumers in Delhi to be hiked by 7-10% in May-June period
Delhi residents will face a 7-10% electricity bill hike in May-June due to revised Power Purchase Adjustment Cost (PPAC) approved by DERC. This increase, attributed to rising fuel costs, has been met with criticism from residents' associations who allege procedural irregularities. Discoms defend the PPAC as essential for covering power purchase costs and maintaining financial stability.
Earth’s ‘twin’ is not dead but very much ‘alive’; NASA's latest discovery explained
NASA's recent analysis of Magellan spacecraft data suggests Venus may possess a dynamic surface, challenging the long-held belief of a static crust. Evidence indicates the presence of 'flake tectonics,' where crustal blocks shift due to mantle activity. This discovery, coupled with upcoming missions like VERITAS and DAVINCI, could revolutionize our understanding of rocky planet evolution and Earth's future.
Govt to hold pre-emption right over oil, gas in national emergency: Draft rules
The Indian government will possess pre-emption rights over all domestically produced oil and natural gas during national emergencies, ensuring resource control for public welfare. Draft rules under the amended Oilfields Act mandate fair market price compensation to producers. The government retains sole discretion in defining a national emergency, while operators gain exemption from obligations under force majeure conditions.
Gensol Engineering shares slide 5%, extending 20-day rout after SAT denies interim relief
Gensol Engineering shares remain under pressure after the SAT denied interim relief against Sebi’s market access ban over alleged fund diversion and document forgery. The case revolves around a Rs 978 crore EV loan, with Sebi alleging misuse of funds. Regulatory actions are intensifying, including probes by the MCA and complaints by lenders. The stock has plunged 59% in a month.
Finance Ministry unveils draft framework of Climate Finance Taxonomy
India's finance ministry has unveiled a draft climate finance taxonomy framework to guide investors toward sustainable activities aligned with national climate goals. The framework proposes a phased implementation, starting with qualitative criteria and later incorporating quantitative benchmarks.
Google agrees to fund three US nuclear plants
Tech giant Google and nuclear developer Elementl Power have signed an agreement to develop three advanced nuclear power plants in the United States, according to a statement released Wednesday. Under the agreement, Google will provide early-stage development capital for three projects, each designed to generate at least 600 megawatts of power capacity, each roughly the equivalent to a standard large power plant.
Delhi HC curbs Gensol, BluSmart from creating third-party rights over 220 EVs leased to SMAS Auto, Shefasteq OPC
SMAS Auto had leased 164 EVs to Gensol and 46 to BluSmart, while Shefasteq had leased 10. Justice Jyoti Singh refused to direct repossession of the EVs, as sought by the lessors. The court also asked Gensol to submit a status report on the leased EVs within two days, besides furnishing a comprehensive statement of their assets and liabilities.
Alberta oil jobs take a hit as Cenovus Energy announces new layoffs
Cenovus Energy, based in Calgary, confirms job cuts due to fluctuating oil prices and environmental regulations. This decision is part of Cenovus's effort to manage costs and improve efficiency. Affected employees will receive severance packages and career support. The Alberta government expresses concern over these job cuts. More updates on the scale of layoffs and long-term strategy are expected soon.
If EU, UK impose carbon tax, we’ll take retaliatory action: Piyush Goyal
Commerce and Industry Minister Piyush Goyal said that the developed world has neglected India and other developing countries in the fight against climate change.
Companies leveraging both sugar and grain to lead India’s ethanol growth: Athar Shahab, Zuari Industries
Athar Shahab emphasises the need for a stable, forward-looking policy environment to support long-term investments and growth in the sector
States sue Trump administration for blocking the development of wind energy
A coalition of state attorneys general has filed a lawsuit against Donald Trump's executive order halting wind energy project development. They argue Trump's action oversteps his authority, jeopardizing economic growth, energy diversification, and climate goals.
Spain’s blackout is a wake-up call for India
India, having experienced large-scale blackouts, is rapidly expanding renewable energy. While prioritising energy access and affordability, the government must invest in grid stability, data collection, and corporate governance. Addressing these challenges is crucial to prevent future blackouts as India significantly increases its renewable energy capacity to meet growing demands.
Investing in tech, workforce to reach 100 GW of wind energy target by 2030: IWTMA
India's wind energy sector is boosting capacity, innovating technology, and developing its workforce to reach 100 GW by 2030. With over 50 GW installed, the industry is aligned with the government's clean energy vision, ready to scale up manufacturing and generate employment. The sector aims to become a major employment generator and a global export hub.
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