SAN FRANCISCO: Tesla Inc. shares have wiped out nearly one-fifth of their value in less than two weeks amid growing concerns that demand for electric cars is starting to weaken. The selloff started earlier this month when the electric-vehicle giant dialled back growth expectations during its third quarter earnings call. That was followed by grim […]
Category: Power
Power
E-Bike Co Matter plans to raise up to $200 million to expand operations
Gujarat-based electric two-wheeler maker Matter Group is looking to raise up to $200 million in funds over the next two years to expand operations and set up a factory that will roll out a million motorcycles. The capital will also be used to develop new products and scale up distribution in the local market, group […]
Diversification of solar manufacturing and supply chains must to achieve net-zero emission goal: R K Singh
New Delhi: Diversification of solar manufacturing and supply chains besides building adequate renewable energy storage are necessary to meet the net zero emission targets, Union Minister R K Singh told ISA member countries on Wednesday. Without these, the net zero target is going to remain only a goal, Singh, who is the president of the […]
Electricity supply by realty firms, mall owners, airport operators to attract 18% GST
Electricity supplied by realty developers, mall owners, and airport operators to their tenants will attract 18% Goods and Services Tax (GST), the Central Board of Indirect Taxes and Customs (CBIC) has said. However, supply of electricity by Resident Welfare Associations (RWAs) at rates charged by state electricity boards or power distribution companies (Discoms) will be […]
Tata Power appoints Deepesh Nanda as president of renewables and CEO & MD of TPREL
Tata Power, one of India’s largest integrated power companies, today announced the appointment of Deepesh Nanda as President-Renewables and CEO & MD of Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, with effect from November 1, 2023. Nanda takes over from Ashish Khanna who moves as President, Generation business. In a press […]
Prashant Jain to step down as JSW Energy MD & CEO
JSW Energy on Tuesday announced that Prashant Jain is going to step down from his position as Joint Managing Director and CEO on January 31, 2024 to pursue personal interests, said the company through its exchange filing. A search process for selecting the next CEO has been initiated, informed the company.
Amazon surpasses 1.1 GW clean energy capacity in India
New Delhi: E-commerce and cloud company Amazon has surpassed 1.1 gigawatts of renewable energy capacity in India with an addition of its new 198-megawatt wind farm project in Osmanabad, Maharashtra, the company said on Tuesday. With this, the company now has 50 wind and solar projects across India.
ISA hikes viability gap funding for solar projects
New Delhi: The International Solar Alliance (ISA) has increased the viability gap funding for solar projects to 35% from 10% of the project cost, a move aimed at pushing renewable energy adoption and encouraging private sector participation in developing countries, especially in Africa. “The alliance, through its viability gap funding mechanism, provides a grant of […]
Indian energy producer AM Green seeks $1 billion funding, sources say
AM Green, a hydrogen and ammonia producer owned by the founders of Indian renewable company Greenko Energy Holdings, is planning to raise around $1 billion to fund its growing business, according to people familiar with the matter. The firm is working with an adviser on the fundraising to bolster its ability to produce green hydrogen […]
Two-wheeler EV sales rise 12% as Ola Electric sees festive surge
Electric two-wheeler sales rose 12% in October from a month ago, with market leader Ola Electric cornering almost a third of the overall sales, according to data from the government’s transportation portal Vahan. Ola Electric sold 22,284 vehicles in October, up from 18,691 vehicles sold in September, according to the portal. Rival Ather Energy sold […]
Adani Power shares gain 1.71% as Sensex rises
Shares of Adani Power Ltd. traded 1.71 per cent up at Rs 364.0 at 10:10AM (IST) on Tuesday, even as BSE benchmark Sensex gained 329.85 points to 64112.65. The scrip had closed at Rs 357.85 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 410.0 and Rs 132.55, respectively.
Stock market update: Power stocks up as market rises
NEW DELHI: Power shares closed higher in the Monday’s session. Inox wind(up 6.55%), Inox Wind Energy(up 5.45%), ADANIGREEN(up 5.09%), Transformers and Rectifiers(India)(up 5.05%), Jaiprakash Power Ventures(up 4.30%), NLC India(up 3.67%), KEC International(up 2.63%), Orient Green Power Company(up 1.92%), Kalpataru Projects International(up 1.60%) and RTNPOWER(up 1.41%) stood among the top gainers.