New Delhi: Adani Green Energy on Thursday announced the incorporation of two step-down subsidiaries, Adani Renewable Energy Fifty One Ltd and Adani Renewable Energy Fifty Five Ltd. Adani Saur Urja (KA) Ltd, a wholly-owned subsidiary of the company, has incorporated its wholly-owned subsidiary, namely, Adani Renewable Energy Fifty One Ltd (ARE51L), on December 13, 2023, […]
Category: Power
Power
Aiming net-zero in ops by 2050, Adani mulls investment of Rs 8.33 lakh cr in green energy
New Delhi: Billionaire Gautam Adani’s group will invest $100 billion (Rs 8.33 lakh crore) in green energy transition over the next 10 years across its ports, power and cement operations as it aims to become a net zero emitter by 2050. The conglomerate is expanding its renewable portfolio to 45 gigawatts (GW) as well as […]
Hindalco to invest $96 million in Odisha to set up battery foil plant
Bengaluru: Hindalco Industries said on Tuesday it will invest 8 billion rupees ($96 million) to set up a battery foil manufacturing facility to tap the expanding electric vehicles market in India, the world’s third-largest car market. The plant, set to be opened in the eastern state of Odisha, is slated to be operational by July […]
Startups propel EV financing as retail credit remains constrained
Bengaluru: Electric vehicle adoption in India is growing by the month according to recent sales figures but a lack of liquidity in the market for this nascent industry is causing roadblocks in larger accessibility. EVs are already higher priced than internal combustion engine (ICE) vehicles due to non-localisation of the battery supply chains, which make […]
Adani contractor probed by India resurfaces under a new name
The Adani Group has been maintaining its relationship with a controversial contracting firm controlled by a Taiwanese family, with previously unreported regulatory filings showing how the connection has evolved amid a government investigation and auditor scrutiny. The contracting firm — Howe Engineering Projects (India) Pvt Ltd. — contains the core operations of a business called […]
Open access solar capacity grows 21% to 907 MW in September quarter
New Delhi: The country recorded a 20.6 per cent rise in new installations of open access solar capacity to 907 MW in the September quarter, according to Mercom India. India had added 752 MW (Mega Watt) of open access solar capacities in the year-ago period, the research firm said in its ‘Q3 2023 Solar Open […]
Adani Group stocks end up to 20% higher; 3 firms hit 52-week high
New Delhi: Adani Group shares extended their gains and ended up to 20 per cent higher on Wednesday after billionaire Gautam Adani-led conglomerate said it has plans to invest $75 billion on energy transition initiatives by 2030. Eight of the group firms ended in the green territory, and three in the red. During the day, […]
Adani Group to invest Rs 6.25 lakh cr to scale up AGEL’s RE portfolio to 45 GW
New Delhi: Adani Group has plans to invest $75 billion (Rs 6.25 lakh crore) on energy transition initiatives by 2030, its chairman Gautam Adani said on Wednesday. The investments will boost the group’s vision to have 45 gigawatt of renewable energy capacity by 2030, Adani said in a statement. “We are committed to largescale renewables, […]
Bihar cabinet approves new electric vehicle policy
Patna: The Nitish Kumar government on Tuesday approved the Bihar Electric Vehicle (EV) Policy-2023 with the aim to achieve 15 per cent EVs in all vehicle registrations in the state by 2028, a senior government official said. The decision to this effect was taken in the cabinet meeting chaired by Chief Minister Nitish Kumar here. […]
US examined Hindenburg allegations before loan to Adani
The US government concluded that short-seller Hindenburg Research’s allegations of corporate fraud against Gautam Adani weren’t applicable to his conglomerate’s ports subsidiary before extending his firm as much as Rs 46,090 crores for a container terminal in Sri Lanka, a senior US official said. Allegations in a scathing report by US-based Hindenburg Research, which erased […]
Adani Group shares climb 20% in intra-day trade
New Delhi, Dec 5: Adani Group stocks jumped up to 20 per cent on Tuesday following a report that the US agency found short-seller Hinderburg Research’s allegations of corporate fraud against the conglomerate were not relevant. The US International Development Finance Corp (DFC), examined the allegations against the Adani Group before extending a loan for […]
Adani Green Energy gets $1.36 bn financing from international banks’ consortium
New Delhi: Adani Green Energy (AGEL) on Tuesday announced it has secured a funding of $1.36 billion from a consortium of international banks as part of its construction financing framework. The $1.36-billion senior debt facility will enhance the company’s funding pool to $3 billion since initial project financing in March 2021, AGEL said in a […]