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 […]
Category: Power
Power
Expect capex for EV components to cross Rs 25K cr in next 3-4 years: Icra
The auto component industry is expected to invest over Rs 25,000 crore in the next 3-4 years to expand production of electric vehicle parts, rating agency Icra said on Tuesday. EV penetration in the country has reached 4.7 per cent in FY2024, with much of it driven by the electric two-wheeler segment, although e-three-wheelers and […]
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 […]
Amara Raja jumps 37% so far in April, nears record high on healthy outlook
Shares of Amara Raja Energy (ARE&M) hit a multi-year high of Rs 1,111 apiece, as they rallied 7 per cent on the Bombay Stock Exchange (BSE) amid heavy volumes on a healthy outlook. The stock is trading close to its record high level of Rs 1,128 touched on August 25, 2015. Thus far in the […]
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 […]
Inox Wind bonus issue plan: Board meet on April 25; stock zooms 9%
Wind energy manufacturer Inox Wind shares jumped as much as 8.93 per cent to hit an intraday high of Rs 645.75 apiece, on Tuesday. This comes after the company announced that its board of directors will meet on April 25, to consider and approve the proposal for issuance of bonus equity shares to the shareholders […]
K.P. Energy secures wind power project; share hits 5% upper circuit
Energy company K.P. Energy shares soared on Tuesday, and are locked in 5 per cent upper circuit at Rs 409.85 apiece. On the other hand, S&P BSE Sensex was trading 0.24 per cent higher at 73,825.57 levels. The surge came after K.P. Energy secured an order for development of a 9MW wind power project in […]
SBI Surya Ghar Scheme for solar rooftop financing: All you need to know
The government recently launched a campaign to raise awareness and generate applications from interested households for the Surya Ghar Muft Bijli Yojana for rooftop Solar Scheme. The SBI Surya Ghar Yojna for Solar Rooftop is offering loans for the installation of solar panels on rooftops. Here are some important FAQs on the SBI Surya Ghar […]
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 […]