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Business News Today: Latest Business News, Finance News

Markets’ dilemma: Trust the bark or wag of oil prices The sector call illusion Bandu’s Blockbusters For April 12, 2026 Mastering Derivatives: Does Lag Impact Effectiveness Of OI? Who Am I? April 12, 2026 Index Outlook: Rising From Dire Straits US Market Outlook: Gaining Strength Bullion Cues: Gold And Silver Futures Face Barrier F&O Tracker: Tentative Shift In Trend F&O Strategy: Buy L&T Put Maruti Suzuki to launch 4 EVs by 2031 India Inc flags surge in cost of packaging raw material, seeks relief measures India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Iran's new supreme leader Mojtaba Khamenei has severe and disfiguring wounds, sources say No road tax, registration fees for electric vehicles priced up to ₹30 lakh till March 2030: Delhi’s draft EV policy Central Railway to run four special local trains for Ambedkar Jayanti West Asia tensions push up costs for India; further impact hinges on stability: Report ED initiates fresh raids against former Bengal minister Chatterjee in teacher recruitment scam Election Commission reverses Mittal’s DVAC posting, appoints him DGP, TN Armed Police Israel and Lebanon are expected to hold talks. Here’s what to know US, Iran set for peace talks but doubts emerge over Lebanon, sanctions Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Orbicular gets USFDA’s tentative nod for generic Semaglutide Injection in partnership with Apotex Malls, high-streets in NCR clock 45% rise in leasing of retail spaces in Jan-Mar: C&W FIIs pull ₹28,375 crore in five sessions; domestic buyers cushion fall as indices post best week in months Nifty and Bank Nifty Prediction for the week 13 Apr’26 to 17 Apr’26 by BL GURU Proposed Trump arch in Washington DC includes winged figure, eagles, lions and gold inscriptions 'Ladakh' replaces 'Jammu and Kashmir' in Aadhaar records for UT residents Misri ends US trip with focus on civil nuclear cooperation and LPG exports
The wait for atmanirbharta in pumped storage projects
By Team BL · 2026-05-11 · via Business News Today: Latest Business News, Finance News
Pinnapuram pumped storage hydropower project in Kurnool district

Pinnapuram pumped storage hydropower project in Kurnool district | Photo Credit: GIRI KVS

GE Vernova recently announced that it had secured an order — its second — from Megha Engineering and Infrastructures Ltd (MEIL) to supply nine ‘reversible Francis turbines’ for the Upper Sileru pumped hydro storage project (PSP). ‘Reversible Francis turbines’ are the heart of PSPs — they act as a motor, pumping up water, and as a turbine to generate electricity when the water flows down. GE had earlier won a smaller order from MEIL, for the 125 MW Kundah project.

The new order points to the complete absence of atmanirbharta in this key equipment for PSPs. Apart from the US-based GE Vernova, the other major suppliers are Andritz Hydro of Austria and the German Voith Hydro. Andritz has supplied to Tata Power’s Bhivpuri project, Torrent Power’s Saidongar-Karjat project and Greenko’s Pinnapuram project. Voith has an order for Upper Indravathi project in Odisha.

The only Indian company that claims to have the technology, BHEL, has so far not announced any order wins. India has around 5 GW of operating PSP plants; another 13 GW are under construction and a further 9.5 GW have been approved. The Central Electricity Authority’s ‘Long-term national resource adequacy plan for 2026-27 to 2035-36’ speaks of a need to build 94 GW of pumped hydro storage plants.

TERI’s sunny forecast for 2,129 GW agriPV potential

India could have an agri-photovoltaic (agriPV) potential of nearly 2,129 GW, according to a new nationwide assessment by The Energy and Resources Institute (TERI), highlighting the scale of opportunity inherent in combining agriculture and solar power generation on the same land.

AgriPV refers to systems where solar panels are installed above or alongside crops, allowing farming and electricity generation to coexist.

The study used a GIS-based methodology to assess suitable cropland across the country. It applied multiple filters, including solar radiation levels, land slope, soil quality, flood risk, ecological constraints and crop compatibility.

TERI identified 47.35 million hectares of restricted cropland, of which 2.835 million hectares were found highly suitable for agriPV deployment alongside specific crops. Horticultural crops — including fruits, vegetables, spices and medicinal plants — emerged as the most compatible for dual-use systems.

Based on a power density of 0.42–0.75 MW per hectare, the study estimated India’s agriPV potential at 1,192–2,129 GW — among the largest such opportunities globally.

The potential is concentrated in a few states. Maharashtra, Rajasthan, Andhra Pradesh, Madhya Pradesh, Karnataka and Uttar Pradesh together account for about half of the estimated capacity.

According to TERI, agriPV offers a “scalable, climate-resilient and farmer-centric” pathway to meet rising energy demand without displacing agriculture. The study said its findings could help move agri-photovoltaics from pilot projects to a coordinated national strategy, integrating food and energy production.

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Published on May 11, 2026