GP Eco Solar looks to raise INR 30-35 crore in IPO
GP Eco Solar will use the funds raised through the initial public offering (IPO) on NSE Emerge to fuel its growth in the solar sector. It will allocate around INR 12.45 crore for working capital and expansion, and invest INR 7.6 crore in subsidiary Invergy India for a new solar inverter assembly facility in Noida.
Enfinity Global secures $135 million for 1.2 GW of solar, wind power plants in India
US-based Enfinity Global has secured $135 million in long-term financing to advance the development of its 1.2 GW of solar and wind projects in India. The financing is being provided by Canada Pension Plan Investment Board
IEX reports 26.4% rise in renewable energy certificate trading
The Indian Energy Exchange (IEX) traded 75.39 lac renewable energy certificates (RECs) in FY 2024, equivalent to 7.54 billion units, registering a 26.4% increase year-on-year.
Adani Energy Solutions completes acquisition of Essar’s operational Mahan-Sipat transmission assets
Adani Energy Solutions Ltd (AESL) has acquired Essar’s operational Mahan-Sipat transmission assets for an enterprise value of INR 1,900 crore. This acquisition will add 673 ckt km, 400 kV inter-state transmission line, taking AESL’s cumulative network to more than 21,000 ckt km.
ReNew secures $1 billion from European bank Societe Generale
Societe Generale will provide up to $1 billion of debt finance and advisory solutions, over the next three years, to support the development of ReNew’s energy transition projects.
India to add more than 15 GW of renewable energy capacity annually in FY 2025 and FY 2026: India Ratings
India Ratings and Research expects India to maintain pace of renewables capacity addition owing to a significant drop in equipment prices, continued policy support, availability of liquidity, and investment plans of some of the large corporate players.
Siemens to demerge energy business into separate listed entity
Siemens Energy India will provide solutions across the entire energy value chain – from power and heat generation, transmission to storage.
Coal share in India’s installed power capacity drops below 50%
Coal’s share (including lignite) in India’s total installed power capacity dropped below 50% in the first quarter of 2024. This is well ahead of the Government’s target to establish 50% cumulative power generation capacity from non-fossil fuel-based sources by 2030.
Navigating the future of hydrogen
Hydrogen, often lauded as a beacon of hope in the quest for a low-carbon future, stands at a pivotal crossroads. As the world grapples with the dual challenges of escalating energy demands and climate change, hydrogen presents a unique opportunity to harmonize industrial development with environmental stewardship. However, its path is fraught with complexities and obstacles that require careful navigation.
Amplus commissions third open-access solar plant in Uttar Pradesh
Amplus’ operational open-access solar capacity in Uttar Pradesh has swelled to over 200 MWp with the commissioning of the 73.4 MWp PV plant in Jhansi.
