It was sometime in early 2022 when Elon Musk, CEO of Tesla, had tweeted about India’s high import duty levels for cars and why this was impacting his company’s entry into this market. In no time, representatives from West Bengal, Telangana, Tamil Nadu, Maharashtra, Punjab and Karnataka tweeted right back that they were ready to […]
Category: Power
Power
Chinese automakers redefine the car as a living space
Beijing: How about turning a car’s front bucket seats 180 degrees so they face the rear seats and extending out a table so the occupants can play cards or eat a meal? Or a 43-inch screen for the passengers in the back seat? The seemingly never-ending efforts of China’s electric-car makers to redefine the automobile […]
FAME Subsidy Case: Hero Electric moves HC seeking relief
New Delhi: Hero Electric scooter company Hero Electric has approached the Punjab and Haryana High Court seeking relief from recovery of subsidies availed under the government’s flagship scheme to promote electric mobility. The move comes in the backdrop of the Centre considering measures to recover money from three companies who allegedly availed sops wrongfully under […]
You can charge your EV for free at 400 spots in Karnataka. Check details
Statiq, an electric vehicle charging network operating more than 400 EV charging points in Karnataka, has launched a no-cost charging initiative in the region. The company aims to motivate users to explore public charging options for long-distance travel, as many rely on home charging. Statiq asserts that their charging stations can accommodate various electric vehicles, […]
Why BYD’s EV exports sell for twice the China price
U.S. and European politicians have raised alarms that their domestic auto industries could be destroyed by a wave of cheap Chinese electric vehicles. But so far, China’s top EV maker, BYD, has dramatically hiked export prices compared to what it charges at home rather than undercut foreign rivals. The goal: to rake in hefty profit […]
Macquarie drops plan to sell India clean energy company Vibrant
Australia’s Macquarie Asset Management has called off plans to sell renewable energy platform Vibrant Energy due to a valuation mismatch in negotiations, said people aware of the development. Vibrant, a portfolio company of Macquarie’s Green Investment, is currently operating and delivering 1.9 GW of renewable energy solutions to corporate clients across India. It has an […]
Statkraft India head Rahul Varshney quits
Rahul Varshney has quit Europe’s largest renewable power generator Statkraft after helming its Indian operations for 15 years, according to people aware of the development. Varshney could possibly set up his own venture in the energy transition segment, they said. Statkraft, which is owned by Norway’s government, has been operating in India for more than […]
REC Ltd secures Japanese green loan of Rs 3,200 crore
REC Ltd on Thursday said it has secured a green loan for JPY 60.536 billion (about Rs 3,200 crore) to finance eligible clean energy projects. The green facility benefits from an 80% guarantee by Italian export credit agency, SACE (Italy). In January, the company had issued its first yen-denominated 61.1 billion green bonds under its […]
Adani Green Energy seeks $400 million loan for capex push
Adani Green Energy, which is looking to develop a 25 gigawatt portfolio by 2025, is in advanced talks with Rabobank, MUFG, SMBC and DBS for a $400 million loan, according to people familiar with the development. The loan is likely to be priced at a secured overnight financing rate (SOFR) plus 250 basis points with […]
Use of renewable energy could revolutionise agriculture in Hindu Kush Himalayas: experts
Harnessing renewable energy could revolutionise food security in the mountainous region of the Hindu Kush Himalayas, experts, including from India, said here on Tuesday. The remarks were made at a regional conference titled “Advancing Productive Uses of Renewable Energy in Agriculture in the Hindu Kush Himalayas” and hosted by the International Centre for Integrated Mountain […]
Adani arm completes 49% acquisition in Adani Esyasoft Smart Solutions
Adani Enterprises’ arm Adani Global Limited on Friday announced that it had completed the acquisition of a 49% stake in Adani Esyasoft Smart Solutions. The conglomerate’s intimation comes in connection with an ealier announcement, on April 12, when the deal was executed.
China’s BYD seeks to redefine luxury for the EV generation
BEIJING: Chinese EV maker BYD will showcase its premium brand’s first sedan at the Beijing auto show from Thursday, in a challenge to the likes of Germany’s Mercedes-Benz which three years ago pulled out of the brand’s development citing slow sales. The Denza Z9GT is the fruit of BYD founder Wang Chuanfu persisting with the […]