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Azure Power’s Revenue Increases by 40% to $35 Million in Q3 of FY2019

Date : Feb 15, 2019

Azure Power has announced its consolidated results for the third quarter ending December 31, 2018.

 

The total revenue in the third quarter of FY19 stood at ₹2.430.8 million ($34.9 million) which was up 40 percent, an increase of ₹690.9 million ($9.9 million) from the same period in 2017. The increase in the generated revenue was primarily driven by the projects commissioned since last year, according to the company. New solar projects drove Azure Power’s Revenue Up by 22% to $30.7 Million in Q2 2019.

 

Its adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization...

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Tellurian and Petronet Sign MOU for Equity Investment in Driftwood

Date : Feb 15, 2019

Tellurian Inc. announced today that it has signed a Memorandum of Understanding (MOU) with Petronet LNG Limited INDIA (PLL) wherein PLL is exploring the possibility of investment in the Driftwood project, which includes a proposed liquefied...

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Petrol, Diesel Become Costlier on Thursday

Date : Feb 15, 2019

After a gap of two consecutive days, state-controlled oil marketing companies hiked retail fuel prices on Thursday. After today's rate revision, petrol became dearer by 6 while the diesel price was raised by 5 paise per liter across...

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QP Signs 5-Year Sale Agreement for Naphtha Supply to Marubeni Corporation

Date : Feb 15, 2019

Qatar Petroleum, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has concluded a 5-year sales agreement to supply Japan’s Marubeni Corporation an annual total of 200,000 metric...

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New Saudi PPP Law to Boost Renewable Energy Projects

Date : Feb 15, 2019

With new regulations such as the PPP (public-private partnership) law in Saudi Arabia, an increased number of PPP projects will get off the ground around the region, with a growing focus on renewables, transportation,...

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Basrah Gas Company to Increase Capacity by 40%

Date : Feb 14, 2019

Shell has reportedly announced that the Basrah Gas Company (BGC) has taken a “final investment decision (FID)” on its growth programme, which will increase BGC’s capacity by 40...

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Saudi's Salman Energy Park Signs Strategic Deals

Date : Feb 14, 2019

King Salman Energy Park (Spark) has signed strategic agreements with Saudi Customs and Saudi Industrial Development Fund, according to a report.

 

HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince,...

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Sunpower Corp Seeking Partner for its Solar Panel Making Business

Date : Feb 14, 2019

SunPower Corporation is seeking a strategic partner for its solar panel manufacturing business, an arrangement that could allow it to expand the U.S. factory it acquired last year, Chief Executive Tom Werner said on...

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Mideast Refining, Petchem Experts to Gather for ME-TECH in Abu Dhabi

Date : Feb 14, 2019

High ranking officials and decision-makers from the refining and petrochemical sectors will take part in a major downstream event taking place in Abu Dhabi this month.

 

The prestigious Middle East Technology...

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NDA Pins Hopes on Flagship Ujjwala Scheme to Return to Power

Date : Feb 14, 2019

The National Democratic Alliance (NDA) government is banking on its marque schemes such as the Pradhan Mantri Ujjwala Yojana (PMUY), which provides free cooking gas connections to poor families, to put it on a home run in the general...

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DEWA to Seek Partners to Build Solar-Powered Desalination Plant

Date : Feb 15, 2019

Dubai will seek partners this year to build its first solar-powered desalination plant as the emirate tries to diversify away from burning fossil fuels to increase its water supply, the head of the Dubai Electricity and Water Authority said.   The plant, using reverse osmosis technology, will have capacity to produce 120 million gallons a day of drinkable water by 2024, Chief Executive Officer Saeed Mohammed Al Tayer said in Dubai. DEWA is also developing a reservoir to hold as much as 6 billion gallons of water reserves, and the utility currently stores about 700 million gallons, Al Tayer said at the World Government Summit in Dubai.   Dub...

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Oman Shipping Firm Awards Two VLCCs Deal to Daewoo

Date : Feb 08, 2019

Oman Shipping Company (OSC) has ordered two VLCCs from Daewoo in South Korea at a reported cost of US$91mn each.

 

The 300,000-dwt tankers are scheduled to be delivered in 2021 and, assuming no sales in the...

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Chinese Group Launches $1bn Industrial Project in Saudi

Date : Feb 08, 2019

Chinese Company Pan Asia has broken ground for a major primary and downstream industries project in Saudi city of Jazan at an investment of SR4 billion ($1.06 billion) in collaboration with key government entities, said a...

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Siemens Begins Work on First Solar-Driven Hydrogen Electrolysis Project

Date : Feb 07, 2019

Work has begun on the first solar-driven hydrogen electrolysis facility in the Middle East and North Africa (Mena) region - a project that will be implemented in collaboration by Dubai Electricity and Water Authority (Dewa), Expo 2020...

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Dubai's M-Station Power Project Expansion Nears Completion

Date : Feb 06, 2019

Dubai Electricity and Water Authority (Dewa) has completed 98 per cent of the M-Station expansion project, the largest power generation and water desalination plant in the UAE, in co-ordination with German technology major...

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Trafigura JV to Build $2.8bn Metal Smelting Complex in Saudi Arabia

Date : Feb 06, 2019

Global commodities trader Trafigura said it has reached an agreement to build a giant copper, zinc and lead smelting complex in Saudi Arabia at an investment of $2.8 billion.

 

The mega project, SmeltCo, which...

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Saudi Arabia Launches Second Phase of Renewables Energy Plan

Date : Feb 05, 2019

Saudi Arabia has launched the second phase of its Renewable Energy Program, which will comprise seven solar projects worth $1.5 billion.

 

The combined generation capacity will be 1.51 gigawatts (GW), enough...

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Acwa Resumes Barka Power Plant to Full Capacity

Date : Feb 04, 2019

Acwa Power Barka has announced that its power plant facility in Barka has returned to full capacity after a gas turbine, which was the subject of a series of technical faults over the past two months, has been successfully repaired...

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New Contract for Drilling 40 Wells at Majnoon

Date : Feb 01, 2019

Iraq’s Basra Oil Company (BOC) has agreed to a deal with the state-owned Iraqi Drilling Company (IDC) to drill 40 new oil wells in the giant Majnoon oilfield.

 

In a statement on Thursday, the Ministry of Oil said the...

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Hatta Development Plan Progresses as per Schedule

Date : Feb 01, 2019

Dubai government said all the development projects were progressing as per schedule in the Hatta region.

 

A 10-year Hatta Development plan is already starting to take shape, with Airstream-style trailer...

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Boskalis’ Oman Oil Dock Project Underway

Date : Jan 31, 2019

Boskalis Westminster (Oman) said work is underway to complete the construction of the oil dock project in the port of Duqm, with the stage of drilling on land already completed and work underway in the drilling and deepening in the...

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