Finance

The economic burden of air pollution in Bangladesh, for which transport is one of the major reasons, calls for strong policy-level intervention to increase the adoption of electric cars.

Indian developer Amp Energy has secured up to $250 million in growth capital from Japan’s Sumitomo Mitsui Banking Corp. (SMBC), UK’s Intermediate Capital Group (ICG), and China’s Asian Infrastructure Investment Bank (AIIB).

Green hydrogen holds the potential to decarbonize critical sectors and provide clean energy solutions. However, it accounts for less than 1% of global hydrogen production. Targeted interventions are required to facilitate a smooth transition toward a green hydrogen economy.

Industry body India Hydrogen Alliance has submitted a plan to the government to build five large national green hydrogen corporations with a collective enterprise value of $5 billion by 2030. The plan shows public finance support, in the form of CAPEX and offtake incentives for National Green H2 Hubs, is crucial for creating financially viable green hydrogen infrastructure, especially in the initial 2024-30 period.

ReNew Energy Global posted a net loss of $61 million for FY 2022-23, compared to $196 million for FY 2021-22.

Tata Group will set up a 20 GWh lithium-ion cell manufacturing plant in Gujarat with an estimated investment of INR 13,000 crore in the first phase.

The solar and wind project developer said the fund raised from Brookfield Renewable will support its growth plans of becoming a 5 GW+ platform over the next three to four years.

While more financiers are committing to limiting capital for fossil fuel, their oil and gas sector borrowers in the Asia Pacific region still adopt a wait-and-see approach to new energy.

The company’s consolidated profit after tax (net profit) of INR 440 crore ($53.3 million) in the Jan-March period of 2023 was 85% higher year-on-year.

The Indian solar glass manufacturer recorded a net profit (profit after tax) of INR 88.54 crore in FY 2023, a decrease of 47% over FY 2022.