Author: PPD Team Date: 13/11/2024
Solex Energy Limited reported robust financial performance in H1 FY2024-25, with total income surging 194% to Rs 2.731 billion, up from Rs 930 million in H1 FY24.
EBITDA increased 168% to Rs 253.7 million, and net worth expanded 244% to Rs 1.317 billion, while Return on Equity (ROE) improved to 29.41%, compared to 3.84% in the previous year.
Author: PPD Team Date: 06/03/2025 The Ministry of Heavy Industries (MHI) has mandated a 100% domestic content requirement (DCR) for 18 electric vehicle (EV) components across two-wheelers, three-wheelers, and e-buses. This requirement must be met for manufacturers to qualify for subsidies under the PM E-Drive programme. The phased manufacturing programme (PMP) eligibility criteria have been updated to ensure that original equipment manufacturers (OEMs) produce these components locally. The PM E-Drive initiative, with an outlay of…
Author: PPD Team Date: 23/01/2025 Torrent Green Energy Private Limited (TGEPL), a subsidiary of Torrent Power Limited, has established Torrent Urja 37 Private Limited (TU37) with an authorised and paid-up capital of Rs.500,000, consisting of 50,000 equity shares valued at Rs.10 each. TU37 will focus on manufacturing, processing, and trading hydrogen and its derivatives, including ammonia and compressed natural gas. It will also engage in renewable energy initiatives, such as the generation, transmission, and trading…
Author: PPD Team Date: 12/12/2024 Major investors in ReNew Energy Global have proposed taking the clean power generator private in a deal valued at $2.82 billion. The consortium, which includes the Canada Pension Plan Investment Board and UAE-based Masdar, holds 64% of the company’s voting rights and has offered to buy ReNew’s shares at $7.07 each. The offer represents an 11.5% premium on ReNew’s closing price of $6.34 on December 10, 2024. Following the announcement,…
Author: PPD Team Date: 21/01/2025 Ravindra Energy Limited (REL) received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up 44 MW of decentralized solar power projects in Maharashtra on January 16, 2025. The project involves the development of 44 MW across 15 substations of MSEDCL for feeder-level solarization under MSKVY 2.0, part of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program. The power generated will…
Author: PPD Team Date: 06/01/2025 Altra Xergi Power, a subsidiary of O2 Power, secured 200 MW in SECI’s auction for 8,000 MWh (2,000 MW x 4 hours) of peak renewable energy supply from ISTS-connected projects under tariff-based competitive bidding (FDRE-VI). The winning tariff was Rs 8.50 per kWh. The auction saw participation from ACME Solar Holdings and Avaada Energy, with the total capacity revised to 656 MW due to provisions allowing allocation of only 80%…
Author: PPD Team Date: 13/02/2025 The Government of Karnataka (GoK) has signed multiple Memorandums of Understanding (MoUs) with various firms under the “Invest Karnataka-2025” summit to develop renewable energy (RE) projects in the state. The agreements, collectively valued at over Rs 3.37 trillion, focus on solar, wind, battery energy storage systems (BESS), and green hydrogen. Key MoUs signed: JSW Neo Energy Private Limited (subsidiary of JSW Energy Limited) – Rs 560 billion for solar, wind,…
Author: PPD Team Date: 06/03/2025 The Ministry of Heavy Industries (MHI) has mandated a 100% domestic content requirement (DCR) for 18 electric vehicle (EV) components across two-wheelers, three-wheelers, and e-buses. This requirement must be met for manufacturers to qualify for subsidies under the PM E-Drive programme. The phased manufacturing programme (PMP) eligibility criteria have been updated to ensure that original equipment manufacturers (OEMs) produce these components locally. The PM E-Drive initiative, with an outlay of…
Author: PPD Team Date: 23/01/2025 Torrent Green Energy Private Limited (TGEPL), a subsidiary of Torrent Power Limited, has established Torrent Urja 37 Private Limited (TU37) with an authorised and paid-up capital of Rs.500,000, consisting of 50,000 equity shares valued at Rs.10 each. TU37 will focus on manufacturing, processing, and trading hydrogen and its derivatives, including ammonia and compressed natural gas. It will also engage in renewable energy initiatives, such as the generation, transmission, and trading…
Author: PPD Team Date: 12/12/2024 Major investors in ReNew Energy Global have proposed taking the clean power generator private in a deal valued at $2.82 billion. The consortium, which includes the Canada Pension Plan Investment Board and UAE-based Masdar, holds 64% of the company’s voting rights and has offered to buy ReNew’s shares at $7.07 each. The offer represents an 11.5% premium on ReNew’s closing price of $6.34 on December 10, 2024. Following the announcement,…
Author: PPD Team Date: 21/01/2025 Ravindra Energy Limited (REL) received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up 44 MW of decentralized solar power projects in Maharashtra on January 16, 2025. The project involves the development of 44 MW across 15 substations of MSEDCL for feeder-level solarization under MSKVY 2.0, part of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program. The power generated will…
Author: PPD Team Date: 06/01/2025 Altra Xergi Power, a subsidiary of O2 Power, secured 200 MW in SECI’s auction for 8,000 MWh (2,000 MW x 4 hours) of peak renewable energy supply from ISTS-connected projects under tariff-based competitive bidding (FDRE-VI). The winning tariff was Rs 8.50 per kWh. The auction saw participation from ACME Solar Holdings and Avaada Energy, with the total capacity revised to 656 MW due to provisions allowing allocation of only 80%…
Author: PPD Team Date: 13/02/2025 The Government of Karnataka (GoK) has signed multiple Memorandums of Understanding (MoUs) with various firms under the “Invest Karnataka-2025” summit to develop renewable energy (RE) projects in the state. The agreements, collectively valued at over Rs 3.37 trillion, focus on solar, wind, battery energy storage systems (BESS), and green hydrogen. Key MoUs signed: JSW Neo Energy Private Limited (subsidiary of JSW Energy Limited) – Rs 560 billion for solar, wind,…
Author: PPD Team Date: 06/03/2025 The Ministry of Heavy Industries (MHI) has mandated a 100% domestic content requirement (DCR) for 18 electric vehicle (EV) components across two-wheelers, three-wheelers, and e-buses. This requirement must be met for manufacturers to qualify for subsidies under the PM E-Drive programme. The phased manufacturing programme (PMP) eligibility criteria have been updated to ensure that original equipment manufacturers (OEMs) produce these components locally. The PM E-Drive initiative, with an outlay of…
Author: PPD Team Date: 23/01/2025 Torrent Green Energy Private Limited (TGEPL), a subsidiary of Torrent Power Limited, has established Torrent Urja 37 Private Limited (TU37) with an authorised and paid-up capital of Rs.500,000, consisting of 50,000 equity shares valued at Rs.10 each. TU37 will focus on manufacturing, processing, and trading hydrogen and its derivatives, including ammonia and compressed natural gas. It will also engage in renewable energy initiatives, such as the generation, transmission, and trading…