Gensol Engineering’s Q1 FY 2024 revenue surges 47% YoY
Gensol Engineering has posted a 47% year-on-year increase in its revenue to INR 1,517 million ($18.27 million) for the first quarter of fiscal 2023-24.
Fourth Partner Energy raises additional $42.3 million in equity funding from Norfund
The corporate solar solutions provider has raised an additional equity investment of INR 350 crore ($42.3 million) from Norfund after receiving $100 million in 2021. It is also tying up with IFC for INR 560 crore fund to execute projects in India.
ONGC to spend $12 billion on green initiatives by 2030
The state-run explorer Oil and Natural Gas Corp. Ltd (ONGC) aims to achieve an installed renewable energy (RE) capacity of 10 GW by 2030 and 1 million tonnes per annum capacity of green ammonia production as part of its efforts to reduce its carbon footprint.
Hail-prone areas may require solar modules with 4 mm-thick front glass
New research from India claims solar modules with 3.2 mm-thick front glass may not be strong enough to withstand storms producing big hailstones. The scientists found that a front glass of at least 4 mm should be used to avoid significant damage.
Tata Power profit grows to INR 1,141 crore in Q1 FY24
Tata Power’s profit after tax (net profit) grew 29% year-on-year to INR 1,141 crore ($137.6 million) in the April-May-June period of FY 2023-24. Consolidated revenue stood at INR 15,003 crore.
What is a carbon credit market?
When one company captures a unit of carbon from the atmosphere using some green technology (this process is called carbon sequestration), it can generate a carbon offset. Other companies can then purchase that carbon offset to reduce their carbon footprint.
France aims for 48.1 GW of solar by 2030, 140 GW by 2050
The French government says it plans to install 48.1 GW of solar by 2030 and 140 GW by 2050. About 45 GW of the mid-century total will be generated via installations on wasteland, while 35 GW will come from rooftop installations.
C4V, Trot Solutions tie up to develop green ports in India
C4V, a New York-headquartered lithium-ion cell technology company, has tied up with UAE-based Trot Solutions to develop green ports in India. The alliance has started to discuss with the port operators for its first green port project at Jawaharlal Nehru Port Terminal in India.
WoodMac predicts 270 GW of new global PV capacity in 2023
Wood Mackenzie expects 270 GW of new global PV capacity in 2023, up 33% year on year. However, the annual growth rate is anticipated to fall to 1% in 2024 and to increase again by 5% in 2025.
ISA, Airports Council to collaborate on scaling solar across airports globally
The International Solar Alliance (ISA) and Airports Council International (ACI) have agreed to strengthening cooperation to scale up solarization of airports across ISA member countries.
