Hyderabad: RenewSys India Pvt Ltd on Monday signed an MoU with the Telangana government for setting up multiple PV modules and PV Cell manufacturing units in the state with a phased investment of around Rs 6,000 crores. RenewSys is a company headquartered in Singapore and it has set up integrated manufacturing facility of solar PV […]
Day: February 20, 2024
Volkswagen to launch imported electric SUV ID.4 in India to test market readiness
German automobile manufacturer Volkswagen will launch a fully imported all-electric sport utility vehicle ID.4 in India later this year to test consumer readiness in the local market, said company executives. Electrification is one of the company’s priorities which will play out in the country in three stages, Volkswagen Passenger Cars India brand director Ashish Gupta […]
Tata Power to set up 2,800 MW pumped storage projects
New Delhi: Tata Power Company Ltd is looking to set up pumped hydro storage projects of 2,800 MW capacity by 2028-29 with an investment of ₹15,000 crore, said its chief executive Praveer Sinha. He told ET that the company will tie up with its subsidiary Tata Power Renewable Energy Ltd, which in turn will bundle […]
Jaipur customer buys over Rs 1 lakh Ather e-scooter with Rs 10 coins, CEO Tarun Mehta shares pic of owner with coin bags
A customer from Jaipur has made headlines by purchasing a brand new Ather 450 electric scooter using only Rs 10 coins. The CEO of Ather Energy, Tarun Mehta, was impressed by this unique payment method and shared a picture of the proud customer receiving the key surrounded by pouches filled with Rs 10 coins. The […]
Tesla Power India to hire over 2,000 people across verticals
Tesla Power today announced plans to recruit over 2000 employees across various verticals as part of their expansion efforts in India. The planned recruitment drive will encompass a diverse range of positions across engineering, operations, sales, marketing, and support functions. Tesla Power India has recently launched its first refurbished battery brand, ReStore. The company plans […]
Some stranded Russian Sokol oil cargoes begin to move to China, India – data
Three tankers with Russian Sokol oil that had been stranded at sea due to payment problems and Western sanctions have started to move towards China and India, data from Kpler and LSEG showed on Monday. The backlog of Sokol tankers has become the biggest disruptions to Russia’s oil trade since the West imposed sanctions on […]
State oil cos power up capex machine
Indian Oil Corporation, Hindustan Petroleum Corporation and GAIL have accelerated their capital spending, with each of them exceeding their annual capex target in just ten months. The combined capex of these three state-run oil companies during the April 2023-January 2024 period amounted to ₹51,000 crore, according to the petroleum and natural gas ministry data. All […]
Russia’s crude oil delivery problems to India aren’t over yet
Nearly 15 million barrels of Russia’s Sokol crude — meant for delivery to India — are sitting on tankers idling off the coasts of Malaysia and South Korea. They show little sign of moving. Twelve tankers are anchored, holding the key Russian crude grade. Most haven’t moved far for more than a month, vessel tracking […]
Indian diesel floods to Asia as Houthis imperil flows to Europe
Shipments of diesel from India into Europe are at the lowest since 2022 so far this month as Houthi attacks on merchant shipping continue to disrupt international trade, driving more cargoes to Asia. Flows to the European Union and UK plunged as higher freight costs stoked by the ongoing turmoil in the Red Sea, as […]
Power Grid Corporation board approves investments of Rs 656 crore
State-owned Power Grid Corporation on Monday said its board has approved an investment worth about Rs 656 crore for implementation of electricity transmission projects in the country. “…its Board of Directors and ‘Committee of Directors on Investment on Projects in their respective meetings held on 18th February, 2024, have accorded investment approvals,” a BSE filing […]
Deepak Fertilisers ties up with Equinor for LNG supply
Deepak Fertilisers and Petrochemicals Corporation (DFPCL) on Monday said it has entered into a long-term supply agreement for liquefied natural gas (LNG) with global energy major Equinor. It is one of the largest contracts signed by the Norway-based company with a private sector firm in India. The fertiliser maker said it has signed a 15-year […]
PM Modi lays foundation stone for 4 power projects in UP
Prime Minister Narendra Modi on Monday laid the foundation stone for four projects being developed by Torrent Power in Uttar Pradesh, entailing an investment of about Rs 25,000 crore. The projects are expected to generate direct and indirect employment opportunities for about 8,000 people in the state, Torrent Group said in a statement. According to […]