Finance

The state-owned oil and gas major targets 200 GW of renewable energy capacity by 2050. It also plans to have around 2 million metric tons of green hydrogen capacity in its fold by 2050.

Ranjit Gupta-led Ocior Energy has committed a cumulative investment of INR 80,000 crore to build two green ammonia facilities of 1mtpa each in Andhra Pradesh and Gujarat. 

ACEN Corp., the renewable energy arm of Filipino conglomerate Ayala Corp., will deploy $250 million equity plus related performance guarantees to support US-based BrightNight’s existing hybrid renewable energy portfolio and future growth in India.     

The project comprising 48 MW of solar and 128 MW of wind capacity, is expected to start commercial operation by the end of December.

Adani Group has committed to building 15 GW of renewable power projects in Andhra Pradesh, while Reliance announced its 10 GW solar plans for the state. Avaada, Greenko, Indosol, and ReNew have also pledged massive investments into the state’s renewables sector.

The Hyderabad-based developer will use the amount towards the capital expenditure of more than 25 GWh of pumped storage projects.

The investment will fund Tata Power Renewable’s aggressive growth plans as it targets over 20 GW of renewables assets and a market-leading position in the rooftop and electric vehicle charging space across India over the next five years. 

A new study by CEEW deconstructs the lithium-ion battery cell manufacturing process, calculates the material and finance requirements, and offers a blueprint for the domestic strategy.

CEF Group has signed a memorandum of understanding (MoU) with the government of Uttar Pradesh to invest INR 650 crore in setting up waste processing plants in the state. The plants will scientifically process the waste to produce bio-CNG and organic manure from it.

The winner of the 20 GWh battery cell capacity under the government’s production-linked incentive (PLI) scheme is going to set up its lithium battery factory in Tamil Nadu.