CESC Ltd on Friday said one of its step-down subsidiaries has completed the acquisition of a company that is in the process of implementing a 300-MW solar park in Rajasthan. The acquisition aims at bolstering the renewable energy portfolio of the power utility. In a regulatory filing, CESC said Purvah Green Power has completed the […]
Category: Power
Power
‘At least $12 trn needed for tripling renewable energy capacity by 2030’
At least $12 trillion is required to create new infrastructure over the next six years for tripling global renewable energy capacity by 2030, COP28 President Sultan Al Jaber said on Friday. Addressing the annual Petersberg Climate Dialogue, Al Jaber said the energy transition will not happen without significant investment and a level-up in climate finance. […]
India expects annual power output to grow at fastest in over a decade
India expects power generation to grow 9.3% to 1,900 billion kilowatt hours (kWh) during the fiscal year through March 2025, internal projections by the federal power ministry reviewed by Reuters show, the fastest pace of growth since at least 2011/12. Searing heatwaves and an uptick in economic activity have resulted in India’s electricity generation growing […]
Electric cars, digital connectivity dominate at Beijing auto show
Global automakers and EV startups unveiled new models and concept cars at China’s largest auto show on Thursday, with a focus on the nation’s transformation into a major market and production base for digitally connected, new-energy vehicles. Toyota and Nissan both announced tie-ups with major Chinese technology companies as they strive to meet customer demand […]
Electric car Tesla may set up manufacturing plants in India, Mexico in 2025
Tesla’s plan to manufacture its affordable electric car priced at $25,000 in India and Mexico could materialise sometime in 2025 or thereafter, with Elon Musk declaring that these models would be produced at its existing factories to utilise their full capacity before investing in new manufacturing lines. The company operates factories in Texas and Fremont […]
Battery stocks’ rally likely to extend in May after $2 billion surge
A rally in India’s battery maker stocks this month looks poised to extend amid optimism over further collaborations with foreign vehicle manufacturers. A rally of 45 per cent has made Exide Industries Ltd. among the top gainers on the broader S&P BSE500 Index in April, after announcing a strategic cooperation to produce lithium iron phosphate […]
Hitachi Energy shares hit 52-week high on expansion plans
Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM. Hitachi […]
India seeks overseas help for lithium processing to avoid relying on China
India is in talks with several countries seeking partnerships for technical help on lithium processing, said four sources familiar with the matter, to bolster its nascent lithium mining and electric vehicle industries and avoid relying on China. India’s Ministry of Mines began discussions with Australia and the United States last year, said the four sources, […]
Macquarie calls off plans to sell renewable energy company Vibrant Energy
Australia’s Macquarie Asset Management has cancelled its plans to divest the renewable energy platform Vibrant Energy due to a discrepancy in valuation during negotiations, as reported by the Economic Times. Previously engaged in discussions with various entities, including Bain Capital, Sun Energy, and Vitol, Vibrant Energy sought an enterprise value of $500 million. According to […]
KPI Green Energy Q4 results: Net profit rise 36% to Rs 43.04 crore
KPI Green Energy on Thursday posted nearly 36 per cent rise in consolidated net profit to Rs 43.04 crore in the March quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 31.77 crore in the year-ago period, the company said in a BSE filing. The company’s total […]
REC gets 60.5 bn yen green loan from Italian export credit agency SACE
State-owned REC on Thursday said it has availed a green loan of 60.5 billion Japanese Yen (Rs 3,250 crore) from Italian export credit agency SACE to finance green projects in India. According to a statement, REC Ltd, an NBFC under the Ministry of Power, has successfully availed a Green Loan of Japanese Yen (JPY) 60.536 […]
Inox Wind board cleares bonus issue in 3:1 ratio to its shareholders
Wind energy solutions provider Inox Wind on Thursday said its board of directors have cleared a proposal to issue bonus shares in the ratio of 3:1 to its shareholders. The bonus shares shall be issued to the shareholders whose names appear in the Register of Members as on the ‘Record Date’, a company statement said. […]