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Sustainability Outlook Headlines
Hero arm, Azure Power to raise $1 bn from bond saleHero Group’s renewable energy arm and NYSE-listed Azure Power are gearing up to raise $1 billion by selling bonds to overseas investors over the next few weeks in separate offerings, according to people briefed on the matter. The Delhi-based green power rivals are looking to mop up $500 million each and have appointed investment banks to underwrite the offerings. Hero Future Energies, led by Rahul Munjal, a... Read more.. |
Telangana to add 1,000 MW solar power capacity in 6-8 months: OfficialTelangana will add another 1,000 MW of solar energy capacity in next six to eight months taking the total installed capacity to over 4,500 MW in solar power segment, a senior official said Wednesday. Telangana stands at second position with a generation capacity of over 3,500 MW commissioned through solar energy. ... Read more.. |
RE-Invest becomes Sun-World as it moves out of IndiaInternational Solar Alliance (ISA), the global grouping of sunshine-rich countries led by India, is planning to launch global editions of its flagship industry event Re-Invest in response to the huge interest witnessed from the overseas entities. As a first step, ISA has signed an agreement with South American nation Peru to organise RE-Invest in that country in November and the overseas avatar of the mega... Read more.. |
12% GST on RECs: Renewable power companies move Delhi High CourtRenewable power companies have moved the Delhi High Court, seeking to exempt the renewable energy certificates (RECs) from the goods and services tax (GST). The case will also have implications on priority sector lending certificates, used widely in the banking sector. These certificates current attract a GST rate of 12 per cent. The court on Tuesday issued notices to the Centre, the GST Council and the... Read more.. |
Routematic Gears up to Become a Prevalent EV Player in the Country; Raises $2.5M in Pre Series AIn a major development towards its growth prospects, Routematic, India’s leading fleet service and transport automation software provider, has raised $2.5 million in a Pre Series A round from its existing investor VAMM ventures. Naresh Malhotra, a serial entrepreneur and ex-Coffee Day CEO led the funding for the company. With the latest round of funds, the company stands with a total raised capital of USD 4.5 Million and plans to establish itself as the biggest EV player in the country in the next 4 quarters... Read more.. |
IIT-Madras startup Swadha Energies raises funds from angel investorsIIT-Madras startup Swadha Energies, a maker of tech-powered energy conservation solutions, has raised undisclosed amount of funds in a pre-Series A round from angel investor groups Indian Angel Network (IAN), Keiretsu Forum and Stanford Angels. This is the startup’s first round of institutional funding, and IAN members MVS Mani, co-founder and MD, Future Focus Infotech, Nitin Zambre, former MD, ICF India,... Read more.. |
India launches $5bn renewables infrastructure drive to tackle pollution issuesIndia is lifting a target for renewables to 227 Gigawatt (GW) of renewable energy capacity by 2022 because the country is well on its way to exceeding the previously set target, vice president Venkaiah Naidu said. The country had already indicated it will launch $5bn (€4.43bn) of transmission-line tenders in phases, beginning in June, to route a targeted 175 gigawatts (GW) of power from renewable sources into the... Read more.. |
ADB committed highest-ever $3 bn in sovereign loans to India in 2018ADB committed to provide USD 3 billion in sovereign loans to India in 2018, the highest level of assistance since sovereign operations began in the country in 1986, said the annual report of multilateral lending agency. In all, the Asian Development Bank (ADB), owned by 68 member countries, committed a total of USD 3.88 billion, including sovereign loans and co-financing during the year ended December 2018.... Read more.. |
Leading Indian Businesses Commit to Electric Vehicle Fleets by 2030Shuttl and BSES Rajdhani Power Limited (BRPL) have become the latest Indian business giants to join The Climate Group’s EV100 initiative.Through their EV100 membership, Shuttl, a leading mobility services company and BRPL, a leading utility company, have pledged to switch their fleets to electric and install charging infrastructure where they have operations – accelerating the electric mobility transition in India... Read more.. |
Switching to electric vehicles may improve air quality: StudyAdopting electric vehicles (EVs) could improve overall air quality and lower carbon emissions, according to a study. Researchers from the Northwestern University in the US quantified the differences in air pollution generated from battery-powered electric vehicles versus internal combustion engines. They found that even... Read more.. |
Delhi: South corporation to focus on solar panels, e-charging pointsTo encourage more people to use electric vehicles, South Delhi Municipal Corporation (SDMC) targets to develop at least 50 public charging stations by the end of this financial year. As part of its environment friendly initiatives, the corporation also hopes to install rooftop solar panels at all schools and municipal buildings by 2019-end. Highlighting the green projects during the fourth Asia Pacific Forum on... Read more.. |
Sterling and Wilson Solar files IPO papers with SEBI to raise Rs 4,500 croreShapoorji Pallonji Group's renewable energy arm Sterling and Wilson Solar today filed Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise around Rs 4,500 crore.The Initial Public Offer (IPO) will be an offer for sale by the company’s chairman Khurshed Yazdi Daruvala and Shapoorji Pallonji and Company Private Limited. Daruvala holds 33.33 per cent stake,... Read more.. |
To fund SME sector, EFL to issue green masala bondsA climate fund managed by Zurich-headquartered responsAbility and Indian NBFC Electronica Finance (EFL) have entered into an agreement for issuance of green masala bonds. This is India’s first green masala bonds issued by a private sector non-banking finance company, said Shilpa Pophale, MD, EFL. EFL has issued green masala bonds of $10 million to responsAbility-managed Global Climate Partnership Fund. ... Read more.. |
New way to create fast-charging lithium-ion batteries discoveredScientists, including one of Indian origin, have developed a way to make lithium-ion battery that can charge within minutes but still operate at a high capacity, an advance that may improve performance for smartphones and electric vehicles. A lithium-ion battery charges and discharges as lithium ions move between two electrodes, called an anode and a cathode. In a traditional lithium-ion battery, the anode is made... Read more.. |
Open for Partnerships in Electric Vehicle Space: Ashok LeylandCommercial vehicle major Ashok Leyland may look at partnerships in electric vehicles segment in future in a bid to cut huge costs involved in developing new technologies in this space, a top company official said. In the traditional internal combustion engine segment, the Hinduja group flagship firm, however, would like to go on in its own, having built a strong portfolio of engines over the years. "We have our own... Read more.. |
SECI's 1,200 MW wind energy sale gets tepid responseSolar Energy Corporation of India’s (SECI) 1,200 MW wind auction on Monday saw a surprisingly lukewarm response from developers, with techno-commercial bids of only 600 MW received. SECI confirmed the development. Most SECI auctions are usually oversubscribed. Its last wind auction of 1200 MW in mid-February, for instance, drew bids of nearly twice the amount. ... Read more.. |
Cabinet approves renewable energy pact between India and Denmark
The Union cabinet chaired by Prime Minister Narendra Modi today gave its approval for a cooperation agreement between Ministry of New and Renewable Energy (MNRE) and Denmark’s Ministry for Energy, Utilities and Climate. The pact allows strategic cooperation in renewable energy with focus on offshore wind energy and a Letter of Intent to establish an Indo-Danish Centre of Excellence for renewable energy in India. The agreement was signed in March this year. “The areas of cooperation would include technical capacity building for management of off¬shore wind projects,... Read more.. Date : Apr 16 Source: ETEnergyWorld
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India will have 227 Gigawatt of renewable energy capacity by 2022: Vice President
India has set an ambitious target of deploying 175 Gigawatt (GW) of renewable energy capacity by 2022 which is now further raised to 227 GW considering that the country is well on its way to exceeding the previously set target, Vice President Venkaiah Naidu said today. Addressing the fourth Resilient Cities Asia-Pacific (RCAP) Congress 2019 here, he called upon town planners to make sustainable solutions such as harvesting solar energy and enhancing green cover an essential part of town planning. Naidu said economic growth must take environmental protection into... Read more.. Date : Apr 16 Source: ETEnergyWorld
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Petronas of Malyasia buys Amplus Energy in ₹2,700 crore dealMalaysia’s state-run oil and gas company, Petroliam Nasional Bhd or Petronas on Monday said it has acquired Amplus Energy Solutions Pvt. Ltd, one of India’s largest rooftop solar power producers. The ₹2,700 crore deal, which is expected to be completed later this month, marks Petronas’ foray into the global clean energy space. Oil giants are looking to diversify and invest in India’s emerging green economy... Read more.. |
Greenam Energy lays foundation stone for floating solar power plant in TuticorinGreenam Energy, an AM International group company with a focus on introducing new-age green and sustainable technologies, conducted the foundation laying ceremony for the construction of its 24MW floating solar power plant at the Tuticorin factory complex of feriliser maker SPIC (Southern Petrochemicals Industries Corporation). This floating solar power plant would be located on SPIC’s large water reservoir... Read more.. |
Sekura, CLP eye Kalpataru’s power transmission assetsEdelweiss Infrastructure-backed Sekura Energy and CDPQ-backed China Light & Power (CLP) India are in separate talks to acquire the power transmission assets of Kalpataru Power Transmission (KPTL) in a deal worth $200 million, according to two people aware of the development. The assets include Jhajjar transmission line in Haryana, Satpura transmission line in MP, Alipurduar transmission line in West... Read more.. |
Switching to electric vehicles may improve air quality: StudyAdopting electric vehicles (EVs) could improve overall air quality and lower carbon emissions, according to a study. Researchers from the Northwestern University in the US quantified the differences in air pollution generated from battery-powered electric vehicles versus internal combustion engines. They... Read more.. |
Waste management: Six Punjab cities to set up waste-to-energy plantsThree major and three small towns of Punjab have been selected to be developed as model cities as far as waste management is concerned. The major towns are Amritsar, Bathinda and Mohali and small ones are Nawanshahr, Moonak and Rupnagar. This decision was taken in a meeting held by Justice Preetam Pal, chairman of executive committee formed on the direction of the National Green Tribunal to resolve the issue... Read more.. |
GoZero Mobility to soon come up with 18 experience centres, 80 channel partners across IndiaBritish electric bikemaker GoZero Mobility today announced its pan-India expansion plan. The company, which has its Indian operations base in Kolkata, has outlined a three-pronged expansion approach, which will include 18 experience centres, 80 channel partners targeting over 1,000 retailers and online sales, to expand its retail network in the next couple of years. GoZero Mobility recently launched two e-... Read more.. |
India To Auction Transmission Projects Worth $5 Billion To Support RE ExpansionTo ensure that the rapidly expanding renewable energy capacity and planned auctions of large-scale solar and wind energy projects have the adequate transmission capacity to supply power to demand centers across the country, India has announced expansive plans to set up transmission projects. Reuters has reported that the Indian government plans to auction 54 gigawatts of transmission projects by March 2020. The... Read more.. |
