Sector: Power
Promoters divest 6% stake in Kalpataru Projects
The shares were disposed of in the range of Rs 485.06-485.75, taking the transaction value to around Rs 468 cr. The sellers included – Parag Mofatraj Munot (Promoter) and the two promoter group entities — Kalpataru Constructions Pvt Ltd and Kalpataru Viniyog LLP Post this, the total promoter group’s shareholding in Kalpataru Projects International (KPIL) … Read more
Elon Musk Announces Plans for New Factory Making Megapacks in China
Elon Musk announced plans Sunday for a new battery factory in Shanghai during a visit there. The factory will make large-scale energy-storage units called Megapacks, Xinhua reported. Elon Musk revealed plans to build a new battery factory during a visit to Shanghai Sunday, China’s official Xinhua news agency reported. Tesla’s new project, which was officially … Read more
How fusion breakthrough at US lab can clean up our air
Development of a nuclear fusion reactor is the Holy Grail of clean energy that scientists have been striving to find for decades. So reports about scientists at California-based Lawrence Livermore National Laboratory (LLNL) achieving a “net energy gain” from an experimental fusion reactor signal a game changer. That’s because, for the first time, a fusion … Read more
Mahindra dilutes sizeable stake in the renewable business. Financially not a significant event.
M&M is diluting 30% stake in it’s renewable business to Ontario Teachers’ Pension Plan Board (Ontario), a global major investor with net assets ~ Canadian$ 242.5 bn. Key points to note – Stake dilution is of a step down wholly owned subsidiary of M&M, Mahindra Susten Private Limited (MSPL) MSPL is Mahindra Group’s renewable energy … Read more
JSW Energy acquires 1.75 GW Renewable Energy Assets
JSW Energy last year had demerged it’s green business into a separate wholly owned subsidiary JSW Energy Neo. The step was keeping in line with group’s increased focus on the renewables (like everyone else). JSW had announced aggressive expansion plans – From 4.8 GW of current capacity to 10 GW by 2025 Currently 2/3 rd … Read more
Adani, L&T among 18 firms to show interest in BSES smart meter tender
The five million smart meter tender issued by Reliance Infrastructure’s BSES Limited has received interest from close to 18 companies, company executives have said. Among the firms that have come forward during the Expression of interest (EoI) round are leading Indian companies such as HPL, Secure Meters, Adani Transmission, L&T. Finland-based Wirepas, EDF France, Enel … Read more
India To Meet 50% Of Its Energy Needs From Renewable Resources By 2030: Giriraj Singh
Union Rural Development and Panchayati Raj Minister Giriraj Singh Sunday said the Union government under the leadership of Prime Minister Narendra Modi government has set an ambitious target of meeting half of its energy needs from renewable resources by 2030 and reach the net zero-emission levels by 2070. Addressing a Conference of Panchayats-2022 at Indira … Read more