Adani Green Energy Q3 profit soars 110% YoY
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.
PM Modi inaugurates India Energy Week 2023 in Bengaluru
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.
Tata Power posts $127.6 million profit in Q3 FY 2022-23
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.
Budget 2023-24 reaffirms government’s focus on domestic solar and battery manufacturing, green hydrogen
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’s International Holding Company to invest $400 million in Adani Enterprises FPO
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.
Adani Group rebuts US-based short-seller’s report
The Indian conglomerate has issued a 413-page response to the allegations made by the US-based short seller Hindenburg.
Acme partners Norfund to invest in renewable energy projects in India
Indian developer Acme and the Norwegian investment fund have signed the framework agreement to co-invest in developing potential renewable energy projects in India.
TERI recommends provisions for green fund in Union Budget 2023-24
Experts at TERI say the money collected as cess on coal could be used to create a Green Equity Fund and also provide viability gap funding for energy transition projects.
BPCL to set up 1 GW renewable energy plant in Rajasthan
Bharat Petroleum Corp. Ltd, which targets 1 GW of renewable energy by 2025 and 10 GW by 2040, has signed an agreement with the government of Rajasthan to build a 1 GW renewable energy plant with an investment of INR 5,000 crore.
Rajasthan signs MoUs worth $14.85 billion for renewable energy, storage, and hydrogen projects
The State government has signed agreements for various giga-scale projects across renewable energy generation, solar manufacturing, pumped hydro storage, and green hydrogen.
