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
Borosil Renewables Ltd (BRL) is currently in the process of quadrupling it’s production capacity to about 2000 tonnes per day (TPD) over the next couple of years. The Company has now announced 100% acquisition of Interfloat Group, Europe’s largest manufacturer of solar glass. Key points to note – Interfloat Group comprises of two entities – … Read more
Global credit rating agency S&P Global Ratings on Monday said the Indian renewable energy sector will be highly leveraged owing to the growth opportunities. In its new report “India Renewables: Growth Trumps Deleveraging” S&P Global Ratings said the multi-decade growth opportunities for renewable energy in India will result in persistently high leverage across the sector. … Read more
The Reserve Bank of India (RBI) has categorised renewable energy sector under priority sector lending for loans up to a limit of ₹30 crore. In a report on the financial constraints in renewable energy sector tabled in Parliament, the committee has said that the ministry of new and renewable energy informed the panel that the … Read more
Indian conglomerate Reliance Industries, South Korea’s Hyundai Motor Co and automaker Mahindra & Mahindra are among companies that have submitted bids under the country’s Rs 18,000-crore billion battery scheme, two sources told Reuters. India last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries as it looks to … Read more
Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries is acquiring 100% of Faradion Limited (FL), a British battery maker specialising in sodium-ion technology. Key points to note – RNESL is investing 125 mn pounds in the transaction – 100 mn pounds for 100% acquisition of FL and balance 25 mn … Read more
The announcement was widely expected. Earlier in September 2021, Company had already informed that it’s exploring such possibility. Besides the Company is also into consolidation mode and had recently decided to sell the non core HDFC Life. On the subject, Company has announced – “We have now planned to setup a multi-gigawatt lithium-ion cell manufacturing … Read more
Larsen & Toubro Ltd. (L&T) and ReNew Power, a renewable energy company (promoted by Sumant Sinha), have entered into a partnership agreement to tap the emerging green hydrogen business in India. Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in the country and in other countries. “It … Read more
In line with the ongoing industry trends, JSW Energy too separates it’s Green (Renewables) from Grey (Thermal) business into a separate 100% owned subsidiary – JSW Energy Neo. Key Points to note: The Company targets to reach a power generation capacity of 20GW by 2030 compared with 4.5GW currently. Of the current capacity 30% is … Read more