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
At this stage, it’s only a MOU that has been announced by Amara Raja with the State of Telangana. What finally comes out of it remains to be seen. (It’s important to keep a track of these announcements as it helps in understanding management’s promises vs delivery over period) Key announcements – Proposed facility will … Read more
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
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
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
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’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