Page 40 - Renewable Energy

India is where climate tech meets global venture capital

The country's post-Covid resurgence has been backed by better roads and infrastructure, and a manufacturing turnaround

Green energy majors to invest nearly Rs 19,000 crore in Uttar Pradesh

According to a senior govt official, the state is aligning with the overarching target of the Centre to achieve a 450 gigawatt (Gw) in renewable energy and 500 Gw in non-fossil energy capacity by 2030

Solar projects awarded before customs duty change allowed cost pass-through

Change in law allowed for hike in GST rate too as project developers face cost hikes

Suzlon Energy rights issue of Rs 1,200 crore to open on October 11

Suzlon Energy on Wednesday announced opening of its Rs 1,200 crore rights issue on October 11, 2022. "Suzlon Energy Ltd announces the opening of its Rs 1,200 crore rights issue on October 11, 2022," a company statement said. According to the statement, the company will issue up to 2,40 crore partly paid-up equity shares for cash at a price of Rs 5 per share (including a premium of Rs 3 per rights equity share) aggregating up to Rs 1,200 crore. The issue will be in the ratio of 5 rights equity shares for every 21 fully paid-up equity shares held by the eligible shareholders on the record date of October 4, 2022. The last date of on-market renunciation of rights entitlements is October 14, 2022. The promoters and promoter group have confirmed their participation and they will be fully subscribing to the extent of their rights entitlement, the statement said. The funds raised through the issue will be used for repayment or pre-payment of a portion of certain outstanding borrowings ..

Adani Group to invest $100 bn in a decade, focus on energy transition

Company in sight to become one of the least expensive producers of green electron and green hydrogen, says Gautam Adani

Data centre business to double by 2024, demand to help real estate: Reports

Investments in data centres expected to surpass $20 billion by 2025, with smaller cities gaining too

Govt looking to plug loophole in solar equipment import duty: Report

The central government is looking at ways to plug a loophole in regulations that are allowing solar power developers to avoid paying duties of nearly 40% on cells and modules

Energy crisis shows gasoline demand declining, renewables on the rise

With prices of natural gas and coal heading to record highs and those for crude oil not far below their 2008 peak, the world seems more hooked on carbon than ever

Citigroup sets India as high priority market amid rising China risks

The nation saw a record $82 billion in merger and acquisition deals in the second quarter, defying a slump elsewhere

World's second-biggest fortune fails to halt rout in bonds of Adani firms

Stocks of firms in Gautam Adani's business empire -- spanning ports to gas distribution and coal mining -- have jumped in part on soaring energy prices

Amazon draws roadmap for 100% dependence on renewable energy by 2025

Amazon also announced it was expanding its renewable energy portfolio globally, with an additional 2.7 gigawatt (Gw) of clean energy capacity across 71 new renewable energy projects

Amazon drives renewable energy push with 71 new projects

The new projects include three large-scale plants in Rajasthan with a capacity of 420 megawatts, rooftop solar projects in France and Austria, and its first solar farm in Poland

Working to implement common KYC for financial transactions: FM Sitharaman

Says developed nations haven't done their bit on climate change

India pitches green hydrogen, renewable financing to Singapore Deputy PM

India is expected to pitch green bonds and similar such new age financing tools for investment in the Indian renewable energy sector

Mahindra Group sells 30% stake in renewables arm for Rs 2,317 crore

The group will receive approximately Rs 1,300 crore ($165 million) as a result of this transaction

Mahindra Group, Ontario Teachers' partner to invest in renewable energy

The Mahindra Group and Ontario Teachers' on Saturday announced forming a strategic partnership under which they will invest around Rs 4,550 crore to grow future portfolios of Mahindra Susten Private Ltd (MSPL), a renewable energy platform of the former. "Mahindra Group and Ontario Teachers' have agreed to invest an amount of around Rs 4,550 Crores to grow MSPL's future portfolio," a regulatory filing said. The filing showed that under MSPL, a subsidiary of Mahindra Holdings Ltd (MHL) and 2452991 Ontario Ltd (2OL) have inked share purchase agreement and shareholders' agreement under the strategic partnership. The agreements provide for selling 30 per cent equity by MHL in MSPL to 2OL for a cash consideration of Rs 711 crore, it showed. Mahindra Holding Ltd (MHL), a subsidiary of Mahindra & Mahindra Ltd, will sell additional 9.99 per cent of the paid-up equity share capital of MSPL to any other investor(s) or 2OL or any of its affiliates (Ontario Teachers') by 31th May, 2023, showed

Indonesia's plan to shut coal plants over next 30 yrs struggles for support

The Southeast Asian country plans to eliminate 15 Gigawatt of coal-generation over that time, requiring more than $600 billion of capital support, said Erick Thohir

Shell CEO Ben van Beurden to leave at year-end; gas chief Sawan to step in

Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company

Rajasthan to tap solar energy to fulfil electricity demand in agri sector

Rajasthan's solar generation potential has been assessed at 142 Gw. The state government plans to harness this potential systematically and has set an ambitious target of 30 Gw capacity by 2024-25

'Govt to invite bids for battery storage, green hydrogen, ammonia projects'

The government will invite bids for battery storage projects from players looking to invest in the renewable energy sector, Union Minister RK Singh said on Wednesday. Bids will also be invited for green hydrogen and green ammonia projects, the power, new and renewable energy minister said at 'India Ideas Summit' organised by the US-India Business Council (USIBC) here. Singh also informed that the bid for 1,000 MW storage project invited by the government earlier has been finalised. "The bids which I got...(are) quite expensive. The only way to bring down the prices of solar is to start manufacturing here. That is what we are going to do...," he said. The minister further said the next round of bids will be under the PLI scheme for grid level only because of the requirement for storage. Other bids in the offing are of green hydrogen and green ammonia, Singh said. The minister, however, did not share any details of the bids it is planning to invite.