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Ireda to raise Rs 45 billion through FPO

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Public sector non-banking financial company (NBFC) Ireda Limited plans to raise Rs 45 billion through a follow-on public offering (FPO). The company has scheduled a board meeting on August 29, 2024, to seek approval for the fundraising. The proposal includes raising funds via equity share capital through an FPO, Qualified Institutional Placement (QIP), Rights Issue, Preferential Issue, or other permitted methods. Ireda, under the Ministry of New and Renewable Energy (MNRE), aims to raise Rs…

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IIT Bhubaneswar develops solar-powered reactor to recover resources from waste

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A research team from the Indian Institute of Technology (IIT) Bhubaneswar has created a solar-powered microwave pyrolysis reactor capable of recovering valuable resources from both segregated and mixed waste, including biomass and plastics. The reactor uses microwave-assisted pyrolysis to quickly convert waste into valuable products like biochar and bio-oil, depending on the feedstock and conditions. Current solid waste management methods, such as incineration, biogas production, and landfilling, have limited recycling potential and often result in…

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AI to drive 500 MW data centre capacity addition in India over next four years

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Artificial Intelligence (AI) is expected to add 500 MW to India’s data centre capacity over the next four years, according to a report by Avendus Capital. India’s data centre market, among the fastest-growing globally, has seen capacity rise from 540 MW in 2019 to 1,011 MW in 2023. With a projected CAGR of 26% over the next three years, the sector is attracting diverse investors. The rise in AI workloads, anticipated to surpass traditional cloud…

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India launches Bharat Zero Emission Trucking Policy Advisory

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On August 21, 2024, Prof. Ajay Kumar Sood, Principal Scientific Adviser to the Government of India, launched the “Bharat Zero Emission Trucking (ZET) Policy Advisory” at Vigyan Bhawan Annexe, New Delhi.   Prof. Sood emphasized the role of Zero Emission Trucks (ZET) in decarbonization and energy security, advocating for strategic policies to support ZET adoption. The advisory outlines 30 policy interventions in areas such as incentives, regulations, infrastructure, business and financing, and stakeholder initiatives. These measures…

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Tamil Nadu inaugurates Sembcorp’s green ammonia plant in Tuticorin

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Tamil Nadu Chief Minister MK Stalin inaugurated 19 projects worth Rs 17.62 billion and laid the foundation for 28 more with a total investment of Rs 51.16 billion. The most significant project is a Rs 36.24 billion green ammonia plant by Singapore-based Sembcorp Industries, located in Tuticorin. This plant will produce 200,000 tonnes of green ammonia annually, exporting zero-emission fuel to Japan. Nippon Yusen Kabushiki Kaisha will handle the maritime transportation of the green ammonia….

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Karnataka leads India in EV charging stations, boosting electric mobility

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Karnataka has emerged as a leader in India’s electric vehicle (EV) revolution, with the highest number of public EV charging stations in the country, according to the Bureau of Energy Efficiency (BEE). The state has set up 5,765 charging stations, with 85% (4,462) located in Bengaluru Urban district, surpassing other states like Maharashtra (3,728 stations), Uttar Pradesh (1,989 stations), and Delhi (1,941 stations). These charging stations have been established through various funding sources, including the…

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Bangladesh’s Summit Group to renegotiate renewable power deals with India

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Summit Group of Bangladesh plans to renegotiate deals to import renewable power from India following a recent policy change by New Delhi. The new rule allows power generators that previously exported all their electricity to sell locally. This change has prompted Summit to reconsider its investments, as Indian partners may now prefer selling power within India. Summit had signed preliminary deals with Indian firms, including Tata Power Renewable Energy Ltd, to develop 1,000 MW of…

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AXISCADES subsidiary Epcogen secures contract for UK’s largest liquid air energy storage project

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AXISCADES Technologies Ltd announced that its subsidiary, Epcogen, has secured a long-term contract with Highview Power Limited for the Carrington Power Project in Manchester, UK. This project will be the world’s largest liquid air energy storage (LAES) facility, providing 50 MW and 300 MWh of long-duration energy storage, capable of supplying power to over 1 million UK homes.  Epcogen will handle multi-discipline engineering activities for the project, set to begin commercial operations in 2026. The…

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Ruloans partners with UGRO Capital to enter renewable energy finance market

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Hi-Tech Pipes announced it has secured orders worth Rs 1.05 billion for the supply of electric resistance welded (ERW) steel pipes to customers in the renewable energy sector. These orders will be fulfilled from the company’s new manufacturing facility in Sanand, Gujarat, over the next three months. The ERW steel pipes will be used in various renewable energy applications, including wind farms, solar installations, and other green energy projects. Additionally, Hi-Tech Pipes’ board has approved…

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Ruloans partners with UGRO Capital to enter renewable energy finance market

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Ruloans, a credit distribution company, has partnered with UGRO Capital, a lending platform, to tap into the growing renewable energy finance market. As a direct sales agent (DSA), Ruloans has added rooftop solar finance products to its loan portfolio. This partnership is set to benefit from the PM Surya Ghar: Muft Bijli scheme, which is expected to increase the number of individuals installing rooftop solar panels. The collaboration with UGRO Capital grants Ruloans access to…