To support India’s journey to electrification, auto component makers will make investments of Rs 25,000 crore in 3-4 years to make components for the electric vehicle industry. This capital expenditure will be used for capacity building, technology and product enhancements, research and rating agency ICRA said on Tuesday. About 45-50% of this, would be towards […]
Category: Power
Power
Pavna Industries to supply ignition switches and latches to Ola Electric
Pavna Industries has announced that it has inked an agreement with Ola Electric to supply ignition switches and latches. This contract further consolidates the company’s foray into the two-wheeler electric vehicle segment. Under this agreement, Pavna Industries commits to providing high-quality ignition switches and latches to Ola Electric across its manufacturing plants in India. Commenting […]
Macquarie to invest $1.5 bn in EV leasing, charging infra
Macquarie Asset Management (MAM) on Monday launched Vertelo, a platform to provide end-to-end solutions in fleet electrification, and committed to invest $1.5 billion over 10 years in India. The company aims to accelerate the transition of fleets to EVs and build an ecosystem by offering leasing, financing, charging infrastructure, fleet management services and end of […]
Sona Comstar inaugurates new plant in Mexico to serve Northern America EV market
Sona Comstar has opened a new manufacturing unit in the Fipasi Industrial Park, Silao, Mexico. This strategic expansion aims towards meeting the growing demand for high-quality driveline solutions for Battery Electric Vehicles (BEVs) in North America. This facility in Mexico will be equipped with advanced manufacturing technologies, adhering to the highest quality and safety standards. […]
How can India accelerate the adoption of green hydrogen?
India stands at a critical juncture in its energy transition, with green hydrogen emerging as a transformative solution to mitigate environmental impact and foster sustainable development. Green hydrogen, produced through electrolysis using renewable energy sources like solar and wind power, has garnered global attention as a clean and versatile energy carrier. India’s abundant renewable resources […]
India may need $500 billion capex in power transmission by FY50
India’s power transmission capex requirement will be over $500 billion by FY50, 30% of the overall energy transition capital outlay, Goldman Sachs estimates. “Power transmission is key to India’s energy transition and global new energy cost leadership ambitions. India’s large, highly integrated grid enables the utilisation of least-cost renewable generation sites, and by keeping the […]
India connecting world! ‘Country becoming convenient hub for travel between South East Asia and West Asia’, says IndiGo parent exec
IndiGo-parent InterGlobe Aviation’s Chairman of the Board of Directors V Sumantran has said that India is gradually marking its place as a convenient hub for travel between Southeast Asia and West Asia as airlines are preferring to move people by connecting through Indian cities. Sumantran said that there is huge growth in India and many […]
Embassy REIT to buy business park in Chennai for EV of Rs 1,269 crore
Embassy Office Parks REIT on Saturday said it will buy Embassy Splendid TechZone (‘ESTZ’), a Grade-A business park, from its sponsor Embassy group for an enterprise value of Rs 1,269 crore. The proposed acquisition marks Embassy REIT’s entry into Chennai, one of India’s top performing office markets. It intends to raise unit capital of Rs […]
JSW Energy raises Rs 5K crore via QIP from ADIA, others
JSW Energy has successfully raised Rs 5,000 crore through qualified institutional placement (QIP) of its shares from investors, including Abu Dhabi Investment Authority (ADIA), Blackrock and other global asset managers, the company said on Friday night. The QIP was oversubscribed by 3.2 times, it said. This marks the first-ever equity raise by the company since […]
JSW Energy to use QIP proceeds to cut debt, for green arm
JSW Energy will use the proceeds of the qualified institutional placement (QIP) for repayment and prepayment of its debt and also to invest in its renewable arm, JSW Neo Energy, according to the placement documents filed by the company. Earlier this week, the company’s board gave its approval for `5,000-crore fundraising through the QIP route. […]
Adani to invest Rs 2.3 lakh crore in renewable energy, Rs 1.5 lakh crore in expansion
Adani Group will invest about Rs 2.3 lakh crore through 2030 in India’s most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans. Additionally, Adani Green Energy will invest about Rs 1.5 lakh crore in expanding capacity to […]
Adani Group eyes 45 GW renewable energy capacity by 2030
Billionaire Gautam Adani’s group is building the world’s largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of ‘Energy Revolution: The Adani Green Energy Gallery’ at the Science Museum in London, Gautam Adani said his group’s renewable energy arm, […]