The company expects the first phase of growth in the Indian electric vehicle market coming from commercial vehicles. It has been quick to capitalize on the opportunity by partnering with Switch Mobility, the electric vehicle arm of commercial vehicle major Ashok Leyland.
The startup—which has developed an Internet of Things (IoT) based service for power grid monitoring and automation—will use the amount to strengthen the software platform and expand the scale to different geographies.
State-owned Power Finance Corporation will provide Rs 2.38-crore financial assistance to the Indian Institute of Technology-Kanpur to develop infrastructure for R & D in smart grid technology.
July 6 is the last date to submit proposals for the ambitious ‘one sun, one world, one grid’ plan that aims at seamless sharing of renewable energy resources among countries for mutual benefits and global sustainability. The program has been taken up by the Ministry with assistance from the World Bank.
The Climate Investment Platform launched by three multilateral bodies in September is now open for business and renewables companies in developing nations across 14 regions including south Asia could qualify for help with clean energy facilities, renewables-related grid improvements and energy efficiency schemes.
The programme—co-funded by Swedish Energy Agency and India’s Department of Science & Technology (DST)—aims to develop technologies that can be commercialized after two years. While SEA has committed US$2.6 million over four years for research and innovation collaboration with India, DST will also fund a matching investment of Rs 18 crore to support Indian partners.
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