British International Investment (BII), the UK’s development finance institution and impact investor, along with FMO, the Dutch entrepreneurial development bank, have revealed a shared commitment of $50 million in loans to BECIS for assisting renewable sector in India and Southeast Asia’s commercial and industrial sector.The collaborative funding will support...
New Delhi - Servotech Power Systems Ltd., a leading EV Charger manufacturer in India, has bagged a major order of 1800 DC Fast EV Chargers from Bharat Petroleum Corporation Limited (BPCL). The project valued at 120 Crores will involve Servotech manufacturing, supplying, installing and strategically deploying these 1800 EV...
JSW Energy Limited’s board has approved the raising of Rs 50 billion through the issuance of equity on a qualified institutional placement (QIP) basis.The Finance Committee has been authorised to make all necessary decisions in this regard. The decision comes following the board’s approval for a QIP of equity...
The ‘Pradhan Mantri Suryodaya Yojana’ announced by Prime Minister Narendra Modi has been widely welcomed by the solar sector. The scheme targets solar installation on 10 million residential rooftops in a year.Capt. Ishver Dholakiya, founder and managing director, Goldi Solar, expects an announcement on the fund allocation under this residential...
Grew Energy Private Limited, the leading venture of the Chiripal Group, is preparing to build a three-stage fully backward-integrated manufacturing plant. The facility will be located in Kathua, Jammu & Kashmir.To be built at an investment of 4.500 billion and covering an area of 80 acres, this facility will...
Rooftop solarization will reduce electricity bills for residential consumers while offering additional income from surplus electricity generation. The scheme also expands the market for PV installers and PV component manufacturers.“Through rooftop solarization, one crore (10 million0 households will be enabled to obtain up to 300 units free electricity every...
REC Limited has been appointed as the central agency for the Pradhan Mantri Suryodaya Yojana (PMSY) initiative aimed at deploying rooftop solar systems in the residential sector. The initiative, announced by the Indian Prime Minister earlier in January 2024, aims to install rooftop solar panels in 10 million households....
Gensol Engineering Limited has received significant order book worth Rs 17.83 billion.Gensol’s diverse order book showcases its involvement in multiple sectors, each contributing significantly to its overall portfolio. These include solar engineering, procurement, and construction business, and electronic vehicle leasing business contributing Rs 14.48 billion and Rs 3.35 billion,...
Waaree Renewable Technologies, the solar EPC division of Waaree Group, has announced revenue of Rs 8.76 billion for the fiscal year (FY) 2023-24, marking a year-on-year (YoY) increase of 149.73 per cent. The company’s net profit surged to Rs 1.48 billion, a 167.55 per cent YoY increase.In the FY...
Saudi Arabia and Kazakhstan have inked a memorandum of understanding (MoU) to enhance cooperation in the energy sector.The agreement spans a wide range of fields including oil, natural gas, petrochemicals, electricity, clean hydrogen, renewables, energy efficiency, and storage. The partnership aims to roll out renewable energy projects and innovations...