India will invite private firms to invest about $26 billion in its nuclear energy sector to increase the amount of electricity from sources that don’t produce carbon dioxide emissions, two government sources told Reuters. This is the first time New Delhi is pursuing private investment in nuclear power, a non-carbon-emitting energy source that contributes less […]
Category: Power
Power
Ashok Leyland lays foundation stone for Greenfield EV facility in Uttar Pradesh
Ashok Leyland, a leading commercial vehicle manufacturer in the country held ground-breaking ceremony to set up a new integrated commercial vehicle plant focused on green mobility in Uttar Pradesh. The greenfield facility will be spread over 70 acres and be equipped with the latest equipment in manufacturing technology. The CV maker says this will be […]
Zoomcar, Sparkcars aim to drive adoption of EVs in self-drive segment
Zoomcar, a leading marketplace for car sharing in emerging markets and Sparkcars, an EV self-drive rental company have announced a partnership to increase the supply of EV cars available for self-drive segment. The partners aim to introduce over 1,000 electric vehicles to Zoomcar’s platform across India within the next 2 years. These additions will include […]
Pure EV raises $8 million from Bennett Coleman, Hindustan Times Media Ventures & others, targets to raise $25 million in Series A1
Hyderabad-based electric two-wheeler company Pure EV has announced that it has raised $8 million (Rs 66 crore) from a consortium of investors led by Bennett Coleman and Company, Hindustan Times Media Ventures, alongside Ushodaya Enterprises, existing investors and HNIs. The company is currently in the final stages of concluding its Series A1 funding round, amounting […]
EV financing startup Vidyut raises $10 million in Series A funding from 3one4 Capital, Zephyr Peacock, others
Commercial electric vehicle (EV) financing startup for small and medium businesses Vidyut has raised $10 million in its latest Series A funding round, the company announced on Tuesday. The round, a mix of equity and debt, was led by investor 3one4 Capital and saw the participation of new and existing investors including Saison Capital, Zephyr […]
New tariff norms for green energy allows 14% return on equity
The Central Electricity Regulatory Commission (CERC) has issued revised regulations on tariff determination of renewable energy sources for the period from April 1, 2024 to March 31, 2027. For renewable energy projects other than small hydro projects, the return on equity shall be 14%, whereas it shall be 14.5% for small hydro projects, as per […]
PM Modi lays foundation stone for 4 power projects in UP
Prime Minister Narendra Modi on Monday laid the foundation stone for four projects being developed by Torrent Power in Uttar Pradesh, entailing an investment of about Rs 25,000 crore. The projects are expected to generate direct and indirect employment opportunities for about 8,000 people in the state, Torrent Group said in a statement. According to […]
Indian Renewable Energy Development Agency, Punjab National Bank to co-finance green energy projects
State-owned renewable sector non-banking finance company IREDA and Punjab National Bank have inked a pact to co-finance green energy projects across the country. “Indian Renewable Energy Development Agency (IREDA) and Punjab National Bank (PNB) have joined hands through the signing of a Memorandum of Understanding (MoU) aimed at advancing renewable energy initiatives across the nation,” […]
Adani Group in talks with sovereign funds to raise $2.6 billion: Report
India’s Adani Group is in advanced talks with West Asia-based sovereign funds to raise up to $2.6 billion for its airport expansion and green hydrogen projects, the Business Standard daily reported late on Sunday. The Adani Group’s flagship firm Adani Enterprises may reduce its stake in either the airport-holding firm or the green hydrogen business, […]
Tesla Power India plans to recruit over 2000 employees across departments; to open 5000 ReStore units by 2026
Tesla Power India, a sustainable energy storage solutions brand, announced its plans to recruit over 2000 employees across various verticals as part of their expansion efforts in India. The company has recently launched India’s first refurbished battery brand, ReStore. ReStore is based on Electrochemical Battery Enhancement Process technology, which enhances the life of old used […]
Ford re-entry on the cards, trademarks Mustang Mach-E in India
There’s been a lot of talk if and when will Ford return to the Indian market. As per reports, the Blue Oval is set to make a comeback here with the Toyota Fortuner rival, the Endeavour. The American maker is also gearing up to introduce its first electric vehicle in India, the Mustang Mach-E. To […]
EVs and India’s Net Zero goals
With a strong GDP growth rate of 7.3%, India has emerged as the world’s fastest-growing large economy and is expected to become the third-largest economy in the world, exceeding $5 trillion in the next three to four years. A key driver for India’s growth is a young population, which offers the nation a unique demographic […]