Banks that funded coal plants need an escape plan | Data

Banks having direct and indirect ties to the fossil fuel sector are at risk under tightening climate policies The Data Point published on November 29 showed how India is progressing — albeit slowly — towards cleaner energy sources to generate power. While clean energy in the electricity mix has increased to about 23%, over 55% … Read more

RIL, M&M bid for incentives under India’s Rs 18k-cr battery scheme: Report

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

L&T too jumps into the renewable power train

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

Reliance invests $29 mn into Germany’s NexWafe. 4th strategic move in renewable space

Reliance’s solar unit Reliance New Energy Solar Ltd (RNESL) will buy preferred shares of German firm NexWafe worth 25 million euros ($28.82 million). NexWafe is developing and producing monocrystalline silicon wafers grown directly from inexpensive raw materials, going directly from the gas phase to finished wafers. This is expected to give solar manufacturers a significant … Read more