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 […]
Category: Power
Power
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. […]
Nepal aims to export 10,000 MW hydroelectricity to India: President Paudel
The Nepal government has accorded top priority to the development of the hydropower sector and aims to export 10,000 MW of hydropower to India in the next decade, President Ramchandra Paudel said on Thursday. Nepal wants to contribute towards promoting renewable and green energy in our neighbouring market by harnessing its immense hydro-potentiality, said Paudel […]
Hitachi Energy plans India expansion, local ops amid rising power demand
Hitachi Energy is looking to open more global capability centers in India to expand local operations, amid growing energy demand and a push to scale up renewable energy generation in the country. Zurich-based Hitachi Energy, which makes transformers and large-scale power transmitters, operates a GCC in the country, where high power demand has led to […]
India’s first multi-purpose green hydrogen pilot project inaugurated
India’s first multi-purpose green hydrogen pilot project at 1,500 MW Nathpa Jhakri Hydro Power Station (NJHPS) in Himachal’s Jhakri was inaugurated on Wednesday, according to Satluj Jal Vidyut Nigam (SJVN) officials. SJVN Chairman and Managing Director Geeta Kapur inaugurated a 20Nm3/hr electrolyzer and 25kW fuel cell capacity-based green hydrogen pilot project, a statement issued here […]
REC to extend Rs 1,869 cr loan for Kiru hydro project in Jammu & Kashmir
State-owned REC Ltd on Wednesday said it will provide a term loan of Rs 1,869 crore for 624 MW Kiru Hydro Electric Project in Kishtwar, Jammu & Kashmir. The loan will be utilized for development, construction and operation of the project on River Chenab, a statement said. According to the statement, REC has signed an […]