Honda Motorcycle and Scooter India (HMSI) will soon have a dedicated electric vehicle-making factory at Narsapura, Karnataka, which will produce one million EVs by 2030. HMSI outgoing president and CEO Atsushi Ogata said the production of its first EV will start in March 2024. The company announced its plans of manufacturing two EV models in […]
Category: Power
Power
NSE, BSE put Adani Green Energy under second stage of longterm ASM framework
Leading bourses NSE and BSE have said that Adani Green Energy will be put under the second stage of the long-term additional surveillance measure (ASM) framework from Tuesday. In two separate circulars, the bourses said Adani Green Energy shall continue in the ASM framework but will be moved to the respective higher stage from March […]
S&P Global Ratings watch on Adani governance
Weeks after it revised the rating outlook of two companies of the embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate’s governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in […]
India can achieve energy independence by 2047: US
India can achieve energy independence by 2047, when it celebrates 100 years of independence, according to a study by the US Department of Energy’s Lawrence Berkeley National Laboratory. The study titled “Pathways to Atmanirbhar Bharat” also notes India’s energy infrastructure needs an investment of $3 trillion in the coming decades. It determined that achieving energy […]
Adani group shows interest in Bengal power project
The Adani group had thrown its hat into a bidding process for a Bengal government-sponsored power project, renewing the conglomerate’s ties with the state where it had won the contract for the Tajpur port development last year. The Adani group was among a clutch of five entities, which included Sajjan Jindal’s JSW group, which participated […]
Volkswagen to make electric vehicle batteries in Canada
The European automaker Volkswagen announced that its battery company PowerCo will establish its first overseas “gigafactory” for battery cell making in St. Thomas in southwestern Ontario. Actual production is scheduled for 2027. Buildling the plant in Canada will grant Volkswagen access to both Canadian and US subsidies. Volkswagen has however not given many details about […]
Alwarpet residents irked over frequent power outages
Chennai: Residents of Sri Ram Nagar and nearby areas in Alwarpet, considered one of the posh localities, complain that they have been facing power cuts unannounced that last between 5 minutes and two hours. Vishnu, secretary of Alwarpet Sriram Nagar Resident Welfare Association, said people may not believe that places like Alwarpet, Mandaveli and Mylapore […]
Hero Moto in high-end EV bike ride
Two-wheeler major Hero MotoCorp on Monday said it has inked a pact with the US-based Zero Motorcycles to collaborate on premium electric motorcycles. The collaboration combines the expertise of Zero in developing power trains and electric motorcycles with the scale of manufacturing, sourcing and marketing of Hero MotoCorp, the country’s largest two-wheeler maker said in […]
Greenko raises $700 million to fund pumped storage projects
Homegrown Greenko Group has raised $700 million (around Rs 5,700 crore) funding from Singapore’s sovereign wealth fund GIC, Orix Corporation of Japan, Abu Dhabi Investment Authority (Adia) and its own founders. Anil Chalamalasetty and Mahesh Kolli are the founders of the Hyderabad-based Greenko Group. The equity funding will be utilised towards the capex of pumped […]
Adani Group promoters sell stakes to US firm for $1.8 billion
The promoters of the Adani group have raised Rs 15,446 crore or $1.87 billion by selling stakes in four companies to GQG Partners, a US-based equity investment firm. S.B. Adani Family Trust, which is classified as a promoter entity, sold shares in Adani Enterprises, Adani Ports & Special Economic Zone, Adani Transmission Ltd and Adani […]
Core sector registers growth at 7.8%
The output of eight core infrastructure sectors expanded at a four-month high of 7.8 per cent in January 2023 on a better show by coal, fertiliser, steel and electricity segments, according to official data released on Tuesday. The output of core sectors had increased by 4 per cent in January 2022 and by 7 per […]
Electricity bill frauds turn one of the most reported online crimes in Kolkata
Electricity bill frauds are one of the most reported online crimes in Kolkata and police fear the numbers could rise during summer when a simple text message saying supply will be disconnected if the bill is not paid will be enough to trigger panic. “People are most vulnerable to falling prey to this online fraud […]