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ABB to divest mechanical power transmission division for $2.9 billion
The transaction is expected to be completed by the end of the year 2021, subject to customary closing conditions, including regulatory review.
IEX partners with the Belgian scale-up N-SIDE to implement its power matching solution
Indian power exchange IEX has partnered with the Belgian scale-up N-SIDE to implement its power matching solution based on mixed-integer linear programming for price discovery in its day-ahead market.
Fitch rates India Cleantech Energy’s proposed USD notes first-time ‘BB-(EXP)’; outlook stable
The rating benefits from the fully contracted revenues of the operating assets, whose counterparties include sovereign-owned entities and distribution companies owned by various Indian states. The rating is also supported by the adequate financial profile of the restricted group. All of Acme RG1’s capacity is under long-term power purchase agreements (PPAs) with the majority (93% of capacity) with tariffs fixed through the PPA terms, which extend beyond the tenor of the proposed US dollar notes.
Tata Power set to reduce emissions in alignment with Science Based Targets initiative (SBTi)
SBTi is a partnership between CDP, UN Global Compact, World Resources Institute, WWF and We Mean Business Coalition to drive climate action in private sector.
33/11kV 10 MVA Substation inaugurated in Bandipora, J&K
The substation, which was sanctioned with a cost of Rs 3.85 crore, will benefit more than 2400 households in areas of Nishat Bandipora, Baghi Bandipora, Nusso, Lankreshara, Papchan and the surrounding areas.
China to lead deployment of electric vehicles during 2021 to 2030 period, says GlobalData
The annual sale of battery electric cars is expected to increase from one million in 2020 to reach eight million in 2030. Also, the annual sale of battery electric commercial vehicles is expected to grow from 0.12 million units in 2020 to 1.61 million in 2030.
BSES to purchase 510 MW of solar, hybrid power from SECI
Under the 25-year agreement with SECI, the solar and hybrid power is expected to be available to Reliance Infrastructure led BSES discoms 18 months after signing of the agreement at a very competitive tariff of INR 2.44 per unit for solar and INR 2.48 per unit for hybrid.
Indian Energy Exchange announces unaudited financial results for the Q1 FY2021-22
India’s premier energy exchange IEX has announced that its revenues on a standalone basis grew by 27.1% YoY from INR 80.54 crore in Q1FY’21 to INR 102.38 crore in Q1 FY’22. The PAT grew by 48.4% with PAT margin at 62.1%.
Union Cabinet approves PLI Scheme for specialty steel
Incentives worth INR 6,322 crore to be provided over five years for manufacturing of these products in India.
VegEase begins 100% EV adoption in last-mile logistics for e-grocery
The initiative will lead to an annual reduction of at least 3000 tonnes of CO2 emission by 2024.
