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KEI Industries approves Rs 20 billion QIP proposal
KEI Industries Ltd’s board of directors has approved a proposal to raise Rs 20 billion through a qualified institutional placement (QIP). The funds will be raised via the issuance of equity shares or other eligible securities, subject to shareholder and regulatory approvals. A “Fund Raising Committee” has been formed to finalize the QIP’s terms and…
Inox Neo Energies to acquire 640 MW wind-solar hybrid from Evergreen
Inox Neo Energies Limited, a wholly owned subsidiary of Inox Clean Energy Limited, has signed definitive agreements with Evergreen Power Mauritius Private Limited and Evergreen Renewables Private Limited to acquire a wind-solar hybrid portfolio of 640 MW contracted capacity, equivalent to about 850 MW DC. The portfolio consists of five greenfield hybrid projects in Maharashtra…
esVolta secures $110m tax equity investment for 300MWh energy storage facility
esVolta has obtained a $110 million tax equity investment from Greenprint Capital Management to fund its 300 MWh Hummingbird battery energy storage project in San Jose, California. Set for completion in 2025, the project will provide Pacific Gas & Electric with resource adequacy capacity under a long-term contract and deliver fast-response energy and ancillary services…
Masali village becomes India’s first solar-powered village on the border
Masali village in Gujarat’s Banaskantha district has become India’s first ‘solar village’ located on the border. The village, with a population of 800, is situated 40 km from the Pakistan border. All 199 houses in the village now have solar panels installed, generating 100% of the village’s electricity needs. The project, worth Rs 11.6 million,…
Centre to set up mineral trading exchange under SEBI framework
Union Coal and Mines Minister G Kishan Reddy has announced that the central government will establish a mineral trading exchange, modelled on the London Metal Exchange (LME), according to a report by PTI. Reddy said the platform will be developed in line with Securities and Exchange Board of India (SEBI) regulations. He noted that the…
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India’s first eco-friendly coal mine to launch with Rs 70.40 billion deal
South Eastern Coalfields Limited (SECL) has entered into a Rs 70.40 billion agreement with TMC Mineral Resources Private Limited to implement paste fill technology at the Singhali underground coal mine in Korba, Chhattisgarh. The 25-year project targets coal production of 8.4 million tonnes. SECL becomes the first public sector coal utility in India to adopt…
