Asia Pacific investments in renewable energy generation by 2030 may double to $1.3 trillion from the previous decade, dwarfing fossil fuel power expenditures that are expected to drop by about 25% to $54 billion annually, according to Wood Mackenzie. “Asia Pacific power generation investments are leading the world and expected to hit $2.4 trillion in […]
Day: June 23, 2021
ACME, Brookfield Renewable to jointly develop 450 MWp solar project in Rajasthan
Solar power producer ACME on Tuesday said the company along with Brookfield Renewable will jointly build a 450 MWp solar project in Rajasthan. “ACME, India’s leading solar IPP (independent power producer), today announced closure of a deal with Brookfield Renewable, a global owner and operator of renewable power assets, to build a 450 MWp Solar […]
Gujarat Government announces Gujarat Electric Vehicle Policy
In a bid to add an impetus to manufacturing and use of electric vehicle (EV) in coming years, Gujarat Chief Minister Vijay Rupani declared Gujarat Electric Vehicle Policy 2021 on Tuesday. Under the policy, the State Government will provide subsidy of Rs. 10 thousand per kilowatt costing the State exchequer Rs. 870 crore over next […]
Draft rules on green tariff, open access in 15 days: R K Singh
India will issue draft guidelines in a fortnight to enable power distribution companies to offer renewable energy to large consumers at a separate green tariff, a weighted average of the utilities’ cost of procurement of green energy, power and renewable energy minister R K Singh said on Tuesday. ET was the first to report on […]
Electric vehicle makers laud Gujarat policy, terming it progressive
Various companies like Tata Motors NSE 0.47 %, Mahindra and Hero Electric on Tuesday lauded the Gujarat government for bringing a new electric vehicle policy in the state. Gujarat Chief Minister Vijay Rupani unveiled the ‘Gujarat Electric Vehicle Policy 2021’, which, according to him, has been designed to see at least two lakh electric vehicles […]
Electric vehicles to get cheaper in Gujarat as state announces new EV policy
Electric vehicles are set to get significantly cheaper in Gujarat after the state government on Tuesday announced its new electric vehicles (EV) promotion policy with the most generous subsidy roll out on the purchase of EVs announced by any state so far. The government will directly transfer subsidies to the bank accounts of eligible EV […]
Meghalaya minister asks Centre to rethink green clearance to mining project in state
Meghalaya Cabinet minister Hamletson Dohling, has written to Union Environment Minister Prakash Javadekar to reconsider the clearance given by the ministry for expansion of limestone mining in the state’s East Jaintia Hills. In his letter to Javadekar sent on Monday, Dohling has said: “With great pain I write to you regarding issuance of Environmental Clearance […]
Petrol and diesel prices in your city today, check here
Petrol and diesel price today: After hitting new record highs on Tuesday, petrol and diesel prices were steady across the country on Wednesday, June 23, 2021. The auto fuel prices had touched record highs on June 22, when petrol rose 28 paise per litre and diesel inched up 26 paise in the national capital. The […]
Actis to buy Fortum’s 500 MW solar power plants in India
Actis, the global infrastructure investment firm, has acquired 500 MW Indian assets of Finland based solar power producer Fortum. Fortum has signed an agreement to divest the 250-MW Pavagada II and the 250-MW Rajasthan solar power plants in India, said a company statement. The total consideration from the divestment on a debt and cash-free basis, […]
Norwegian PE to invest $125 million in Fourth Partner
Norfund, a private equity fund owned by the Norwegian government, is set to invest about $125 million (₹930 crore) to acquire a significant minority stake in solar energy firm Fourth Partner Energy. After the transaction, Norfund will own about 40% stake in the company, multiple people aware of the development said.
ONGC draws flak over lack of safety conditions in tender to hire oil vessel
A TENDER for charter hire of an oil vessel by ONGC has drawn criticism from the shipping industry for disregarding safety requirements. The tender allows companies that do not have statutory certificates, class certificates (certificate of stability) and insurance to bid for transport of diesel along the Indian coast, according to the tender documents floated […]
Tata Motors explores raising funds for EV business
Tata Motors NSE 0.46 % is evaluating opportunities to raise capital from potential strategic partners or investors, including private equity funds and sovereign wealth funds, for its electric vehicle (EV) business as the automaker works towards building a range of affordable electric cars. Top officials close to the development said the talks are at an […]