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Servotech Power bags order from Nashik Municipal Corporation

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Servotech Power Systems has received an additional order from Nashik Municipal Corporation (NMC) to install nine EV charging stations in Maharashtra. This expansion aims to address the increasing demand for convenient EV charging infrastructure, supporting both intercity and interstate travel with clean energy. With this new order, the total number of EV charging stations set up by Servotech for NMC will reach 29. The company had previously been tasked with supplying, commissioning, and constructing 20…

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MEIL commissions five solar plants in Maharashtra

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Megha Engineering & Infrastructures (MEIL) has commissioned five solar plants in Maharashtra with a combined capacity of 19 MW, set up under the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyaan (PM-KUSUM) scheme. The solar plants are located in Shambhaji Nagar (3 MW), Nanded (5 MW), Kolhapur (3 MW), Akola (3 MW), and Buldhana (5 MW). The power generated will provide uninterrupted electricity to farmers, reducing their electricity costs, while any excess power will be…

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Exicom acquires Tritium for USD 37 million

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Exicom, an EV charging solutions provider, has acquired Tritium, a global leader in direct current (DC) fast charging technology, for USD 37 million. As part of the acquisition, Exicom will establish a manufacturing facility in Hyderabad by the end of 2025 to produce advanced EV charging solutions using Tritium’s technology. The acquisition includes absorbing Tritium’s entire workforce of 300 employees, allowing Exicom to enhance its operational capabilities across multiple geographies. Tritium’s expertise in designing and…

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CG Power acquires Renesas’ radio frequency components business

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CG Power and Industrial Solutions (CG), part of the Murugappa Group, has acquired the radio frequency (RF) components business of Renesas Electronics Corporation for USD 36 million. The asset purchase agreement, signed on October 4, 2024, involves CG acquiring intellectual property (IP), tangible assets, and select employees from Renesas Electronics America and its affiliated entities. This acquisition strengthens India’s presence in the semiconductor design and development sector, a high-growth area. 

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GAIL, AM Green sign MoU to develop 2.5 GW RE, eMethanol

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GAIL (India) and AM Green BV (AMG) signed a memorandum of understanding (MoU) on October 4, 2024, to collaborate on advancing sustainable energy solutions. The partnership will focus on the supply of carbon dioxide (CO2) for eMethanol production and the development of hybrid renewable energy projects across India. As part of the MoU, the two companies will explore the long-term supply of around 350 KTA of CO2 from GAIL’s gas processing plants for the production…

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Four qualify for twin Bikaner ISTS-TBCB schemes in Rajasthan

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Four companies—Power Grid Corporation of India Ltd (PGCIL), Sterlite Power, Adani Energy Solutions Ltd (AESL), and Tata Power—have qualified to submit initial price bids for two independent transmission schemes aimed at evacuating renewable energy (RE) from Rajasthan’s Bikaner Complex. These bids are part of the tariff-based competitive bidding (TBCB) process coordinated by REC Power Development & Consultancy Ltd (RECPDCL). The two schemes, under the overarching Rajasthan REZ Phase-IV project, are being bid out separately and…

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IEX posts 24% growth in trading volume, REC prices hit all-time low in September 2024

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The Indian Energy Exchange (IEX) recorded a total trading volume of 11,370 million units (MU) in September 2024, a 24% year-on-year increase. The electricity volume, including green electricity, rose by 21% year-on-year to 10,332 MU. Trading volume in renewable energy certificates (REC) doubled to 1,031 MU compared to the previous year. On September 25, 2024, the REC market saw an all-time low price of Rs 110 per certificate, offering obligated entities like discoms and captive…

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Tata Power among four bidders shortlisted for ERES-XXXIX

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Tata Power has qualified as one of the four bidders for the Eastern Region Expansion Scheme – XXXIX (ERES-XXXIX), a key interstate transmission system (ISTS) project in Odisha. Bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) shortlisted Tata Power, Power Grid Corporation of India Ltd (PGCIL), Sterlite Power, and Adani Energy Solutions Ltd (AESL) under the tariff-based competitive bidding (TBCB) mechanism. The selected bidders will have their initial price bids opened, followed by…