Union Minister R K Singh on Tuesday said a transition to a more inclusive, sustainable, affordable and secure global energy system is imperative. Speaking at the World Economic Forum Annual Meeting 2023 here, the minister for Power and New and Renewable Energy stressed on the need for a faster global energy transition. He also highlighted […]
Category: Power
Power
A first: DVC seeks to sell 3.7 Gw of power from three thermal units
In what could be a first in the power market, Damodar Valley Corporation (DVC) has issued an expression of interest (EoI) for selling electricity from its upcoming three thermal power units totaling 3.7 gigawatt (Gw). The Kolkata-headquartered company in a public notice of EoI for power purchase has listed three of its under-construction brownfield power […]
No link between Hydropower projects and Joshimath subsidence: R K Singh
Power Minister R.K. Singh on Tuesday said that NTPC’s Tapovan Vishnugad hydropower project has nothing to do with the land subsidence issue being faced in Uttarakhand’s Joshimath town, the problem is with the area’s land. He also ruled out review of the ongoing hydropower projects in hilly areas. In an interview to a media outlet […]
Triton EV to acquire AMW Motors’ Bhuj manufacturing plant for Rs 210 crore
Electric vehicle maker Triton EV is in the process to acquire debt-ridden AMW Motors’ manufacturing plant in Bhuj for Rs 210 crore, according to sources. The source told PTI on the sidelines of the Auto Expo 2023 that the National Company Law Tribunal, Ahmedabad bench has approved a resolution plan submitted by Triton Electric Vehicle […]
Sparks will fly: Electric vehicle trade war between US, Europe heating up
Will Ferrell’s 2021 Super Bowl ad for General Motors Co. makes bleak viewing today. The actor’s comic fury at being “out-EV’d” by Norway hit at a truth that was a point of pride for Europe: When it comes to electric-vehicle sales, the US has been a laggard, lacking the regulatory and investment push seen in […]
Energy war, chip-battle, Taiwan in focus at WEF in a turbulent world order
A new age of great-power rivalry is redrawing the map of the world economy and forcing business chiefs to navigate around a growing number of global flashpoints. With a hot war raging in Europe and a cold one escalating between the US and China, the rest of the world is under pressure to pick sides. […]
Two Delhi-based companies to invest Rs 295 crore in Chhattisgarh
Two firms based in Delhi will invest Rs 295 crore in Chhattisgarh for setting up nutritional supplements, fortified rice, ethanol and power units. The Chhattisgarh government has signed memorandums of understanding (MoUs) with both the companies — Unity Industries Private Limited and Suruchi Foods Private Limited — for setting up the plants. Both the proposals […]
Fitch downgrades Azure Power Energy’s rating on governance concerns
Fitch Ratings has downgraded Azure Power Energy’s (Azure RG3) US dollar bond from ‘BB+’ to ‘BB’ on corporate governance concerns it said is evident from the company’s failure to manage regulatory financial disclosures past statutory timeline. It also cut rating on Azure Power Solar Energy’s (Azure RG2) US dollar bond from ‘BB’ to ‘BB-‘ (RG […]
WEF 2023: ReNew Power explores green hydro project in India, Egypt
India’s ReNew Power, a unit of New York-listed ReNew Energy Global Plc is studying opportunities to expand into green hydrogen in India, Egypt and elsewhere, its chairman and CEO said on Monday. The firm, which now generates nearly 1.8% of India’s total electricity annually, has a total capacity of 13 Gigawatts (GW) of wind and […]
Greaves Cotton to expand electric 2-wheeler portfolio to build market share
Greaves Cotton Ltd plans to bring electric two-wheelers both in the mass and premium segments going forward as it looks to enhance market share in the domestic market, according to the company’s Executive Vice Chairman Nagesh Basavanhalli. The company, which is showcasing its new Ampere Primus high-speed B2C e-scooter along with five new product concepts, […]
Domestic auto industry scaling up efforts to make electric parts locally
The domestic automobile industry is scaling up efforts to enhance localisation of electronic components in order to curtail dependence on other countries, especially China, as per auto component industry body President Sunjay Kapur. In an interaction with PTI, Kapur noted that the Automotive Component Manufacturers Association of India (ACMA), Society of Indian Automobile Manufacturers (SIAM) […]
South Korean electric vehicle battery players eye global top spot
Rain had wetted much of the clay soil on the ground — rich terracotta earth colours — creating small and large puddles everywhere around a gigantic steel structure, densely embedded with millions of steel beams. Yet it was another busy day for many of the 800 engineers and construction workers, who had turned up for […]