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Canada announces C$1 billion funding for clean energy projects
The government of Canada has allocated C$1 billion ($707 million) in funding for clean electricity projects in the New Brunswick region. The initiative, in collaboration with the Canada Infrastructure Bank (CIB), aims to support Indigenous-led wind projects with a total capacity of up to 670 MW. This effort is backed by the CIB’s Clean Power…
EIB and Intesa Sanpaolo launch €8 billion wind sector initiative
The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%. EIB will provide…
Solar Industries India secures Rs 20.39 billion defence export order
Solar Industries India and its subsidiary have secured export orders worth Rs 20.39 billion for the supply of defence products to international clients. The deliveries will span four years. In November, the company received another export order valued at Rs 3.99 billion from an overseas customer, to be fulfilled within three years.
Saatvik acquires 80% in Melcon, enters transformer manufacturing
Saatvik Green Energy Limited has signed a Share Purchase Agreement to acquire an 80% equity stake in Melcon Transformers and Electricals Private Limited, marking its entry into power equipment manufacturing as it expands beyond solar photovoltaic modules. The acquisition, valued at Rs 24 million, will be completed through cash consideration and is expected to close…
EFC clears central scheme for floating solar projects with BESS support
The Expenditure Finance Committee (EFC) under the Ministry of Finance has approved a central scheme to support floating solar projects integrated with Battery Energy Storage Systems (BESS), according to multiple media reports. However, variations have emerged regarding the approved financial outlay. According to Zee Business, the EFC approved Rs 5,000 crore against the Ministry of…
Kalpataru Projects secures Rs 10.11 billion orders
Kalpataru Projects International Limited (KPIL) and its international subsidiaries have secured new orders worth Rs 10.11 billion. These orders span multiple sectors, including: Transmission & Distribution (T&D) business in overseas markets Railway business in India Buildings & Factories (B&F) business in India Manish Mohnot, MD & CEO of KPIL, expressed satisfaction with the strong order…
