Adani Group has become the world’s largest solar power generation asset owner in terms of operating, under construction and awarded solar projects, according to the latest rankings of global solar companies by Mercom Capital.
In a statement, Adani Green Energy Ltd said that the company’s renewable energy portfolio exceeds the total capacity installed by the entire US solar industry in 2019 and will displace over 1.4 billion tons of carbon dioxide over the life of its assets.
“We anticipate that over the next decade several existing business models will be impacted as a result of the disruption caused by the intersection of plummeting cost of renewable energy and the ability of technology to rescale industries,” Gautam Adani, Chairman of Adani Group, said.
ONGC profit falls 92% in Q1
New Delhi: Oil and Natural Gas Corporation Ltd (ONGC), India’s largest producer of crude oil and natural gas, posted a standalone net profit of Rs 496 crore for the quarter ended June 30, 2020, down 92 per cent from its earnings of Rs 5,980 crore in Q1FY20.
The company’s earnings were hit by low international prices for crude oil and natural gas as a result of global curbs on movement to check the spread of Covid-19. The company had reported its first-ever quarterly net loss of Rs 3,980 crore in the previous quarter.
It’s net realisation per barrel of crude oil from nomination fields fell 53 per cent to Rs 2,179 per barrel from Rs 4,613 in Q1 FY20. —ENS
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