Norfund invests INR 500 crore in Indian renewables company
India’s solar and waste-to-energy generator SAEL has raised INR 500 crore of equity investment from Norway’s Norfund as it seeks to fast-track the implementation of its biomass power projects that use crop stubble as a fuel.
REC commits $123 million for renewable energy projects in Madhya Pradesh
The state-owned non-banking finance company has signed a memorandum of understanding with Rewa Ultra Mega Solar Ltd (RUMSL) to provide INR 1,000 crore ($123 million) for the development of renewable energy parks and associated infrastructure in Madhya Pradesh.
SmartHelio raises $5 million
The Swiss PV diagnostics and predictive solutions provider said it would use the amount to scale its software for solar performance management.
Husk Power secures $750,000 to expand solar microgrid business in Nigeria and India
Bihar-based Husk Power Systems has secured $750,000 in debt to build eight new community solar microgrids in Nigeria and expand operations in India.
EV manufacturers’ wishlist for Union Budget 2023–24
Electric vehicle (EV) and component manufacturers seek a uniform 5% goods and service tax (GST) for all EV spare parts. They also want the scrapping of import duty on lithium-ion battery cells and policy support for battery recycling.
Making the switch to a low-carbon economy
The shift to a low-carbon economy offers both a significant opportunity and a tremendous challenge.
IREDA approves INR 4,445 crore loan to SJVN’s 1 GW solar project
The State-controlled renewable energy and energy efficiency lender has sanctioned its highest loan amount to SJVN Green Energy for development of 1 GW solar project in Rajasthan.
Mahindra to set up INR 10,000-crore EV plant in Pune
The carmaker will invest around INR 10,000 crore ($1.21 billion) over a period of 7-8 years to set up the manufacturing facility for its upcoming Born Electric Vehicles.
Neuron Energy to invest INR 50 crore in lithium battery pack business
The Mumbai-headquartered lithium battery manufacturer plans working capital finance of INR 35 crore and equity investment of INR 15 crore to increase production capacity and fulfil orders from large OEMs.
NIIFL signs MoU on renewable energy projects in Tamil Nadu
National Investment and Infrastructure Fund Ltd (NIIFL) will support Tamil Nadu Infrastructure Development Board in identifying potential private-sector investment opportunities in various sectors including renewable energy.
