Energy

In a transformative step toward equitable energy access, the Delhi government, in collaboration with Indraprastha Gas Limited and other city gas distributors, is extending Piped Natural Gas (PNG) connections to 111 peripheral villages. This initiative—part of a broader goal to connect all 357 villages by 2025—targets over 100,000 low-income households traditionally reliant on biomass and LPG. Public health experts and environmentalists hail the move as critical for reducing indoor air pollution, enhancing gender equity, and addressing urban pollution.

In a significant strategic move, Indian energy storage innovator PURE has entered the North American market through a co-branding alliance with Canada-based Charge Power Inc. The partnership aims to deliver cutting-edge energy storage solutions across residential, commercial, and grid-scale applications in both the United States and Canada.

India’s energy consumption saw a marked uptick in the first half of May, as seasonal travel, rising temperatures, and agricultural activity boosted demand for key fuels. Petrol usage jumped by over 10% year-on-year, while diesel consumption edged up 2% amid rural and transport-sector demand. Although aviation fuel posted modest growth due to regional flight restrictions, cooking gas continued its strong upward trend, powered by government-backed Ujjwala connections.

Gold prices in the national capital experienced a sharp decline of Rs 1,800 to Rs 95,050 per 10 grams, driven by a global retreat in precious metals amid improved geopolitical and trade conditions. Investors are moving away from gold’s traditional safe-haven appeal as recent developments, including a temporary US-China tariff truce and easing India-Pakistan tensions, reduce market uncertainty. Silver prices mirrored the downturn, falling Rs 1,000 to Rs 97,000 per kilogram.

India is poised to lead global oil demand growth among major economies in 2025 and 2026, with consumption rising at rates more than double that of China, according to OPEC’s latest outlook. Forecasts project India’s daily oil demand increasing from 5.55 million barrels in 2024 to 5.99 million barrels by 2026, supported by rapid economic expansion, infrastructure development, and rising transport fuel needs. While the U.S. remains the largest consumer, India’s surging demand highlights its expanding energy requirements amid heavy import reliance.

KPI Green Energy and its group counterpart KP Energy, both part of Gujarat-based KP Group, posted robust fourth-quarter earnings for FY25, driven by a significant surge in revenues. KPI Green Energy saw its net profit more than double year-on-year to Rs. 104.18 crore, supported by a nearly twofold jump in revenue to Rs. 577.80 crore. KP Energy also reported strong growth, with net profit climbing to Rs. 45.79 crore. The board of both companies declared modest dividends, reinforcing shareholder value.

Manali Petrochemicals Ltd (MPL), a subsidiary of AM International, Singapore, posted a consolidated profit after tax of Rs. 10.81 crore for Q4 FY25, marking a significant rise from Rs. 5.27 crore in the same period last year. For the full fiscal year, MPL’s net profit reached Rs. 29.31 crore, buoyed by improved cost controls, efficiency measures, and product diversification. Total consolidated income for the year stood at Rs. 921.63 crore.

India’s leading natural gas utility, GAIL (India) Ltd., is actively pursuing equity participation in U.S.-based liquefied natural gas (LNG) projects to secure long-term supply contracts. The state-run company has attracted five proposals for a potential 26% stake in a U.S. liquefaction facility, bundled with a 15-year LNG supply deal. This strategic move comes as India seeks to bridge its widening energy demand-supply gap amid rising gas consumption and limited domestic output.

State-owned gas utility GAIL (India) Ltd has reported a 6% decline in its net profit for the March 2025 quarter, citing losses in the petrochemical sector and lower margins in gas marketing. Despite the quarterly dip, GAIL achieved record-breaking annual financial performance, with a 28% increase in profit after tax (PAT) for FY25. The company also announced a final dividend and major strategic decisions, including the transfer of city gas licenses to its subsidiary, GAIL Gas Ltd. GAIL's robust long-term performance highlights its resilience despite global economic challenges.

Solex Energy Ltd, a pioneer in India’s solar industry, delivered an exceptional performance in fiscal year 2024–25, reporting a 390% surge in net profit to Rs. 42.79 crore. The company also posted an 81% year-on-year increase in consolidated revenue, driven by robust demand for solar modules and strategic expansion across key Indian states. Earnings per share skyrocketed by 301%, reflecting improved operational efficiency and market reach.