Electric car sales will rise strongly in 2024 despite economic headwinds in some markets, the International Energy Agency (IEA) forecast on Tuesday, but affordability and charging infrastructure will be key to future growth. Electric car sales will hit 17 million this year, compared to 14 million in 2023, with more than one in five cars […]
Category: Power
Power
Sterling and Wilson Renewable soars 10% as it logs profit after 12 quarters
Shares of Sterling and Wilson Renewable Energy (SWREL) soared 10 per cent to Rs 616.90 on the BSE in Monday’s intra-day. This came after the company’s March quarter (Q4FY24) profit before tax (PBT) and profit after tax (PAT) turned positive after nearly 12 quarters. The company reported PAT of Rs 1 crore in Q4FY24, against […]
China’s state planner warns intensified EV price war on oversupply
China’s state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply, among other issues, the government body said in a statement on Monday. The National Development and Reform Commission (NDRC) expected more than 110 new energy vehicle models among a total of 150 new […]
Automakers from GM to Volvo eye cuts as 2-way EV charging becomes real
Automakers from General Motors to Volvo Cars, alongside utilities and charging app operators are calculating their financial cut as EVs that allow their owners to sell power back to grids become a more realistic prospect. Bidirectional, or vehicle-to-grid (V2G), charging lets EV owners charge at overnight off-peak rates then sell power back to grids at […]
Tesla advisor joins India’s first consultative meeting on new EV policy
A host of global and local companies participated in the first consultation on India’s new Electric Vehicle (EV) policy focused on high end cars. Tesla was represented by its advisor, The Asia Group (TAG) India in this meeting, officials aware of the development told ET. Representatives of Vietnam’s VinFAST, which is setting up an EV […]
NTPC Green Energy inks pact with Indus Towers to develop renewable energy projects
Apr State-owned power giant NTPC arm NTPC Green Energy Ltd (NGEL) on Friday said it has signed an initial pact with Indus Towers Ltd to address the need for pacing green energy objectives and the GoI’s efforts towards carbon neutral economy. The MoU (Memorandum of Understanding) shall explore joint development of grid-connected renewable energy-based power […]
Inox Wind bags repeat order for 210 MW wind project from Hero Future Energies
Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd’s state-of-the-art […]
20 energy firms create alliance for EV charging via UPI-like system in India
At least 20 energy companies have joined hands to create an alliance for an open energy network called the Unified Energy Interface (UEI), which is a unified payments interface (UPI)-like system for EV charging, the firms said in a statement on Friday. UEI is the recommended interoperability standard as per the Department of Science and […]
MG Motor, Epsilon tie up for EV charging solutions, battery recycling
MG Motor India on Thursday said it has partnered with the Epsilon Group for EV charging solutions and battery recycling. As part of the collaboration, the automaker has signed an MoU with two Epsilon Group subsidiaries – Power EV, for charging solutions and LICO, for battery recycling and second-life expertise. As per the agreement, Power […]
ISA joins hands with Bhutan to spur growth of solar energy in the Himalayan kingdom
International Solar Alliance (ISA) has signed a country partnership agreement (CPA) with the Bhutan government to implement multiple programmes/projects in the country to enhance its energy access and ensure energy security through solar energy interventions and diversification of energy portfolio. ISA – headquartered in India – is also working with Bhutan on developing a national […]
IREDA opens new office in GIFT City to offer foreign currency loans for green projects
Indian Renewable Energy Development Agency Ltd. (IREDA) has inaugurated its new office in GIFT City, Gandhinagar, specializing in the provision of foreign currency-denominated debt options. Announced by Pradip Kumar Das, Chairman & Managing Director of IREDA, during the “Future Growth Opportunities for Long Duration Energy Storage” panel at the World Future Energy Summit 2024 in […]
India’s wind energy capacity to hit 122 GW by 2032 amid policy boosts
According to the Global Wind Energy Council (GWEC) Global Wind Report 2024, India currently ranks fourth globally in total wind installations with 45 GW of installed onshore wind capacity as of January 2024. This positions it as the second-largest wind market in the Asia-Pacific region, following China. GWEC anticipates continued growth in the sector, projecting […]