The Ministers of Finance and Economic Affairs of the EU member states, meeting in Luxembourg, agreed to include energy self-sufficiency in their national recovery and resilience plans. REPowerEU, a plan proposed by the European Commission in May, aims at strengthening the Union’s strategic autonomy by diversifying energy supplies, thus weaning the bloc off its dependency […]
Category: Power
Power
Electricity supply restored in Bangladesh after blackout from grid failure
Electricity supply across Bangladesh has been restored after the South Asian country plunged into a blackout following the failure of its national power grid, officials said. The blackout, which impacted much of the country, started at 2.05 pm on Tuesday and lasted for nearly seven hours before power was completely restored at 9 p.m. It […]
Power outage hits major parts of Bangladesh as national grid collapses
Power outage has hit several areas of Bangladesh, including capital Dhaka, port city of Chattogram and Sylhet, due to a collapse of the South Asian country’s national grid. Bangladesh Power Development Board (BPDB) Director of Public Relation, Shameem Hasan informed that the national power grid failed and caused the power outage in many areas except […]
S&P upgrades Greenko Energy to ‘BB-‘ on improving business position
Global rating agency Standard and Poor’s (S&P) has upgraded its long-term issuer credit rating on India-based Greenko Energy Holdings from “B+” to “BB-” on improving business position. The outlook is stable. Greenko Energy Holdings’ stabilising operating performance with greater resource diversity and manageable execution risk for pumped storage projects will strengthen its business position, the […]
India may start leasing out sea floor for offshore wind projects: Report
In a bid to achieve India’s net zero emissions by 2070, the central government is leasing out the ocean floor around Tamil Nadu to offshore wind farms. The base rate has been fixed at Rs 1,00,000 per square km, according to a report in Mint. India does not have any offshore energy projects, despite having […]
Commercial EV maker Euler Motors raises $60 mn in funding round led by GIC
Euler Motors, an electric commercial vehicles builder, has raised $60 million in a fundraising round led by GIC Singapore. The series C funding round also saw participation by Blume Ventures, Athera Venture Partners (formerly Inventus India), QRG Holdings, ADB Ventures and Moglix. Euler Motors will use the funds to scale up its manufacturing and supply […]
Two-wheeler sales in India rise 9% YoY, still below pre-pandemic levels
Two-wheeler sales in India rose 9.02 per cent year-on-year (YoY) in September from 931,654 units in September 2021 to 1,015,702 units in 2022. However, it is 14 per cent lower than the 1,181,668 units sold in September 2019, the latest figures by the Federation of Automobile Dealers Associations (FADA) revealed. “Due to increased input costs, […]
Tesla analysts most bullish on EV maker in more than seven years
Tesla Inc.’s love-hate relationship with Wall Street is turning more affectionate, with bullish ratings on the stock at their highest level in over seven years. Of the 49 analysts following the electric-vehicle maker, 27, or about 55%, recommend buying the stock, according to Bloomberg data. Among the rest, 12 have hold ratings, while 10 have […]
Ola Electric sets up experience centre in Chennai, eyes 200 by March 2023
Electric two-wheeler maker Ola Electric has set up its first experience centre in Chennai as part of a plan to set up 200 such facilities across the country by March 2023, the company said on Tuesday. People interested in electric vehicles would be encouraged at the experience centre and they can also avail themselves of […]
Guj in favour of power subsidy, BJP trying to stop it in Delhi: Kejriwal
Delhi Chief Minister Arvind Kejriwal on Tuesday said the people of Gujarat have liked AAP’s idea of free electricity which has prompted the BJP to obstruct the power subsidy scheme in the national capital. Kejriwal’s tweets came after Delhi Lieutenant Governor V K Saxena directed the chief secretary to conduct an enquiry over the alleged […]
L-G Saxena orders investigation into Delhi govt’s power subsidy plan
Delhi LG Vinai Kumar Saxena has ordered a probe into the alleged irregularities in the power subsidy scheme of the AAP dispensation, prompting a strong response from Chief Minister Arvind Kejriwal who linked it to the Gujarat polls and claimed the move aimed at stalling the free electricity initiative. According to sources at the LG […]
Sebi slaps Rs 10 cr penalty on Gautam Thapar for alleged fund diversion
The Securities and Exchange Board of India (Sebi) slapped a penalty of Rs 10 crore on Gautam Thapar of the Avantha Group on Tuesday, for alleged fund diversion at CG Power and Industrial Solutions, where he was chairman. The regulator also imposed Rs 5 crore on Avantha Holdings and Rs 1 crore each on IndusInd […]