Reliance Industries, JSW Neo Energy in fray for 10 Gwh ACC Battery PLI

The Ministry of Heavy Industries announced on Tuesday that it has received bids from seven players for the re-bidding tender of the 10 gigawatt-hour (Gwh) tranche of the Advanced Chemistry Cell (ACC) manufacturing production-linked incentive (PLI). “The list of bidders (in alphabetical order) who have submitted bids in response to this tender are ACME Cleantech […]

RIL, JSW Neo, Amara Raja among 7 bidders for gigawatt battery production

The Ministry of Heavy Electricals (MHI) announced on Tuesday that seven bids had been received under a global tender for the rebidding of Production Linked Incentives (PLI) aimed at supporting the manufacturing of Electric Vehicle (EV) batteries, specifically 10 GigaWatt hours (GWh) Advanced Chemistry Cells (ACC). The bidders, comprising ACME Cleantech Solutions Private Limited, Amara […]

Tata Power Solar Systems, Indian Bank partner to boost residential rooftops

Tata Power Solar Systems on Tuesday announced its partnership with state-owned Indian Bank to promote the adoption of solar rooftop among residential consumers. The collaboration aims to facilitate financing solutions under the popular Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme for installations up to 3 KW, as well as extend support for installations ranging […]

12 offshore funds investing in Adani Group breached disclosure rules: Sebi

India’s market regulator, the Securities and Exchange Board of India (Sebi), uncovered that twelve offshore funds investing in Adani Group companies had breached disclosure regulations and exceeded investment limits, as reported by Reuters, citing unnamed sources. Reuters had first reported that Sebi had discovered breaches of disclosure rules by listed entities and offshore funds exceeding […]

Macquarie Group drives in $1.5 billion EV fleet electrification play

Australia’s Macquarie Group on Monday launched its electric vehicle (EV) financing and end-to-end solutions platform Vertelo in India, which will invest $1.5 billion in electrifying fleets of buses and cars. The platform will offer financing, fleet management, and charging infrastructure solutions. Speaking to reporters, Abhishek Poddar, India Country Head, Macquarie Group said that around 5 […]

Chinese EV manufacturers may be excluded from India’s policy concessions

Concessions outlined in India’s electric vehicle (EV) policy, aimed at attracting global players like Tesla Inc, may not extend to Chinese companies. An unnamed senior government official told MoneyControl that Chinese and China-linked companies are likely to be excluded from these benefits due to national security concerns associated with foreign direct investments (FDIs) linked to […]

Copper demand to boom as new tech drives power consumption: Trafigura

Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10 million metric tons of additional copper consumption over the next decade, commodity trader Trafigura told Reuters. Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy, have already […]