Mumbai-headquartered Virescent Infrastructure, set up by US investor KKR to own and operate renewable energy assets in India, has raised INR 4.6 billion (US$62 million) through its renewable energy-focused infrastructure investment trust (InvIT). Canada’s Alberta Investment Management Corporation (AIMCo) led the funding.
The New York-headquartered technology provider will supply over 1.16 gigawatt-hours (GWh) of its lithium-ion battery cells to power India-based Omega Seiki’s lineup of electric vehicles. The cells, assembled into batteries, will be delivered over the next five years.
The Indian auto-components manufacturer will set up a semisolid lithium-ion cell manufacturing facility in Chennai under a technology licensing agreement with American startup 24M. The first phase of the planned 10 GWh fab would start production in the second half of 2023.
Currently, the cost of producing green hydrogen ranges from 3.6 to 5.8 USD/kg depending on the renewable energy mix and electrolyzer technology. Scaling the electrolyzer production globally will help drive down green hydrogen costs.
The giga-scale factory, located in the Bengaluru city of Karnataka, will initially have the capacity to manufacture about 500 MW of electrolysis equipment per annum.
An order issued in late June instructed US customs agents to detain solar shipments containing silica-based products sourced from a Chinese firm and its subsidiaries. Three solar players may already have been impacted.
The clean energy arm of Reliance Industries Limited will invest US$ 50 million in MIT-incubated Ambri. As part of the transaction the two companies will also partner to develop and manufacture liquid metal batteries in India.
The maintenance cost of an electric vehicle is estimated to be significantly lower than internal combustion engines, and studies show home solar furthers the cost savings and boosts carbon emission reductions.
The Indian solar manufacturer supplied its 385Wp and 390Wp mono PERC solar PV modules for US-headquartered CIM Group’s 250 MW solar photovoltaic project.
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