Homegrown Blusmart Mobility has secured debt to acquire a massive fleet of electric vehicles. According to media reports, government-owned financial entity Power Finance Corporation (PFC) has sanctioned a loan worth $75 million to Blusmart Mobility. The company competes with Uber and Ola Cabs in cab aggregation services. However, Blusmart operates … [continued]
A subsidiary of India’s largest power generation company has announced the launch of a massive energy storage tender. NTPC Renewable Energy Limited, a wholly owned subsidiary of government-owned NTPC Limited, recently initiated the process to launch a tender for 9 gigawatt-hours of energy storage capacity. NTPC Renewable Energy Limited houses … [continued]
Government-owned oil marketing company BPCL has announced plans to add 240 megawatts of renewable energy capacity before April of 2024. According to media reports, the company plans to invest Rs 16 billion ($195 million) to set up this capacity. The planned projects will be set up in the states of … [continued]
Where are the Toyota hybrids going? India? Although the majority of transport needs are met on the sub-continent of India by two- and three-wheelers, which are also electrifying, it is good to notice the increase in electric four-wheel vehicles. BEVs now have a market penetration of 2.1%, up from 0.3% … [continued]
The Indian government has relaxed eligibility criteria for the exemption of the transmission charge waiver for renewable energy projects supplying power to green hydrogen projects. Renewable energy projects in India supplying power to green hydrogen or green ammonia production plants will be exempted from payment of transmission charge provided they … [continued]
The world’s second largest steel maker, ArcelorMittal, has placed a huge wind turbine order in India as part of its ambitious plans to expand its renewable energy footprint in the country. AM Green Energy placed an order for 166 megawatts of wind turbines with Siemens Gamesa. AM Green Energy is … [continued]
Canadian investor Brookfield will reportedly invest $1 billion in Indian renewable energy project developer Avaada Ventures. According to media reports, Brookfield has signed an agreement to invest $1 billion in multiple tranches in Avaada Ventures. Avaada Ventures in the holding company of Avaada Energy, a renewable energy project developer operating … [continued]
Kosol Energie, part of Munich Re insurance group, has announced aggressive plans to expand its solar module production facility in India. According to media reports, Kosol Energie has placed an order for an 850 megawatt module production line with SC Solar. With this new line, the company’s annual production capacity … [continued]
In a landmark tender, the Indian Railways has allocated large scale renewable energy projects to four companies. According to media reports, Railways Energy Management Company Limited (REMCL) has allocated 960 megawatts of renewable energy capacity to four companies. The winners are required to supply round-the-clock renewable power to Indian Railways. … [continued]
A large vertically integrated energy utility in India has auctioned a huge solar power project. According to media reports, Damodar Valley Corporation (DVC), a government-owned entity, has awarded rights to develop a 421 megawatt (peak) solar power project to a private company — Avaada Energy. Avaada secured the project following … [continued]
