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Australia, South Korea sign MOU for critical mineral collaboration
Western Australia (WA) and South Korea have signed a memorandum of understanding (MOU) to enhance cooperation in renewable energy and critical mineral supply chains. The MOU is building on a 2023 letter of intent aimed at fostering clean energy development and processing between the WA Government and Korea’s Ministry of Trade, Industry and Energy (MOTIE). WA’s rich reserves of critical minerals and potential for clean hydrogen and ammonia production were highlighted as key areas for…
Saatvik Solar plans Rs 10 billion IPO for expansion
Saatvik Solar is reportedly planning to raise Rs 10 billion through an initial public offering (IPO) to fund its expansion plans. The company, which currently has a module production capacity of 1.8 GW, expects to increase this capacity to 3.8 GW by November 2024. Over the next two years, Saatvik plans to invest Rs 22 billion to further boost its module-making capacity to 7.8 GW and establish a 2 GW cell manufacturing capacity.
Ather Energy expands into Sri Lanka with EV market entry
Ather Energy, a leading Indian electric two-wheeler manufacturer, is entering the Sri Lankan market, following its successful expansion into Nepal. The company plans to open its first experience centre in Sri Lanka next quarter through a partnership with Evolution Auto, which will manage sales and service operations. To support EV adoption, Ather will also develop a fast-charging network across Sri Lanka. This move aligns with the growing demand for EVs in Sri Lanka due to…
PGPPL signs SPA to acquire 100 per cent stake in Deshraj Solar Energy
Purvah Green Power Private Limited (PGPPL), a wholly owned subsidiary of CESC Limited, has signed a share purchase agreement (SPA) to acquire a 100 per cent stake in Deshraj Solar Energy Private Limited. Upon completion, Deshraj Solar Energy will become a step-down subsidiary of CESC. This acquisition aligns with CESC’s strategy to expand its presence in the renewable energy sector.
Octopus Energy and LONGi join forces for global energy transition
Octopus Energy Generation and LONGi have signed a memorandum of understanding (MOU) to form a new partnership to integrate LONGi into Octopus’s preferred supplier list. The companies plan to finalize a solar panel supply agreement, allowing Octopus to source panels from LONGi for its future solar farm projects, capitalizing on LONGi’s strong market position. In June 2024, Octopus Energy expanded into the US renewables market by acquiring two solar farms in Ohio and Pennsylvania, with…
Maharashtra to boost solar capacity by 9,200 MW within 14 months
Maharashtra plans to increase its solar energy capacity by 9,200 MW, raising its total from 3,600 MW to 12,800 MW within the next 14 months. State Power Minister Devendra Fadnavis announced the work orders under the Mukhyamantri Saur Krushi Vahini Yojana-2.0, India’s first solarization project for agricultural pumps. The initiative aims to halve power costs for agricultural pumps, reduce cross-subsidy burdens, lower tariffs for industrial and commercial users, and cut government subsidy expenses by about…