EV maker Euler Motors and energy service firm Smart Joules raise funding from ADB Ventures
Asian Development Bank’s new venture arm ADB Ventures, which invests in technology startups disrupting traditional sectors in the Asia Pacific, has made its first investments into the Indian startups Euler Motors and Smart Joules.
Hitachi ABB Power Grids wins INR 124-crore order
The company has bagged an order from an aluminium producer to strengthen the power infrastructure at its plant in Chhattisgarh.
Solar tariffs could rise about 20% due to customs duty
The installation cost is set to increase as a 40% customs duty on solar modules, and 25% on cells, comes into effect from next year.
AC Energy, UPC Solar JV raises funding to develop 100 MW Rajasthan project
UPC-AC Energy Solar has closed a debt-to-equity financing deal with the US International Development Finance Corporation (DFC) to develop a 100 MW PV project in Rajasthan.
Haryana plans 93 MW solar power capacity
The Haryana Power Generation Corporation Limited (HPGCL) plans to develop 77 MW solar capacity on its own land and 16 MW on land owned by village councils.
Electric car maker Triton-EV registers India office
The US-headquartered company has registered its Indian arm by the name of Triton Electric Vehicles India in New Delhi as it plans to capture the nation’s growing EV market. It is also in discussion with a few states to set up a factory.
Solar manufacturer wants customs duty waiver to domestic sales by SEZ units
Domestic sales by manufacturing units located within special economic zones (SEZs) are treated as exports, attracting customs duty levy. This puts the SEZ manufacturers at a disadvantage compared to those in the domestic tariff area.
Solar modules to face 40% customs duty, and cells 25%, from next year
India’s finance ministry has approved the proposal to levy the duty from April 2022. Customs notification of the move will be issued at a later date.
India, Sweden to fund joint R&D in renewable energy and storage
The Department of Science & Technology, Government of India, and the Swedish Agency for Innovation Systems (Vinnova) have issued a call for joint R&D proposals in renewable energy, electric vehicles and energy storage. The deadline for the submission of proposals is May 6.
LONGi Solar was India’s biggest module provider in 2020
The Chinese manufacturer shipped over 1,500 MW (DC) of modules last year, accounting for a 15.6% share of the total 9,478 MW module supplies in the nation.
