Finance

Waaree Renewable Technologies has posted a profit after tax (net profit) of INR 24.97 crore (around $3 million) for the quarter ended December 31, 2022, 11,250% up year-on-year.

The renewable energy sector must lead responsibly by addressing land use, circularity and financing.

European Investment Bank (EIB) has joined the India Hydrogen Alliance and agreed to increase support for large-scale green hydrogen hubs and projects across India with indicative funding of EUR 1 billion.

Adani Green Energy Ltd, the renewable energy arm of the diversified Adani Group, reported a consolidated net profit of INR 103 crore in the three months ended Dec. 31, 2022.

Prime Minister Narendra Modi today launched India Energy Week 2023, a three-day event connecting India’s energy stakeholders with international counterparts to collaborate for a responsible and smart energy transition on India’s road to net zero. Addressing the gathering, the Prime Minister said India is today the world’s most suitable place for investment. He called upon the stakeholders to explore every possibility in India’s energy sector and get involved with it.

The integrated power company reported a profit after tax or net profit of INR 1,052 crore ($127.6 million) in the quarter ended December 2022, a 91% increase year-on-year.

The budget signifies the government’s intent to drive domestic manufacturing of lithium battery cells as it waives customs duty on the import of machinery required for manufacturing these cells. It also continues with nil customs duty on critical inputs for solar manufacturing. The budget also aims to support large-scale battery storage projects through viability gap funding.

Abu Dhabi-based International Holding Company (IHC) has subscribed to 16% of Adani Enterprises $2.5 billion Further Public Offering. This is IHC’s second investment deal completed with Adani Group after last year’s $2 billion investment in Adani Green Energy, Adani Transmission, and Adani Enterprises.

The Indian conglomerate has issued a 413-page response to the allegations made by the US-based short seller Hindenburg.

Indian developer Acme and the Norwegian investment fund have signed the framework agreement to co-invest in developing potential renewable energy projects in India.