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China’s Politburo plans to boost economy and promote efficient industries
China’s Politburo, the top decision-making body of the Communist Party, has endorsed a strategy to boost the economy by increasing consumer spending and eliminating inefficient companies. It warned of challenges ahead, possibly related to global uncertainties before the U.S. presidential election. Key measures include restoring financial market confidence and increasing government spending. The central bank has lowered interest rates, and the government has doubled subsidies for electric vehicles to drive growth and reduce reliance on…
Adani Green redeems USD 750 million Holdco notes
Adani Green Energy Limited (AGEL) has completed the redemption of USD 750 million Holdco notes via a fully funded redemption reserve account. The notes supported AGEL’s rapid growth, with its capacity expanding from 3.5 GW to 11.2 GW over the past three years, achieving a 48% compounded annual growth rate.
MAHAPREIT issues tender for 30 MW rooftop solar systems in Goa
Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) has launched a tender for the installation of 30 MW of distributed grid-connected rooftop solar systems on government buildings in Goa. The project scope includes design, supply, installation, commissioning, and five years of maintenance. The bid submission deadline is set for November 4, 2024, with a non-refundable fee of Rs 10,000 plus 18 per cent GST. Previously, in October 2024, MAHAPREIT floated a tender for 3.2 MW…
Turkey aims to quadruple wind and solar capacity by 2035
Turkey‘s Energy Minister, Alparslan Bayraktar, announced that the country will need $108 billion in public and private investment to increase its wind and solar power capacity to 120,000 MW by 2035, aiming to quadruple its current capacity. This announcement was made during an event outlining Turkey’s renewable energy roadmap. The first renewable energy resource area tender conditions for 2024 will be disclosed next week. The energy ministry is revising regulations to encourage private sector investment…
Cadeler secures turbine installation contract for UK’s EA 2 wind farm
Cadeler has signed firm contracts for transporting and installing 64 offshore wind turbines, each with a capacity of 15 MW, along with their foundations for the East Anglia 2 (EA2) wind farm, a 960 MW project in the UK. The contract value for Cadeler ranges between €360 million ($387 million) and €382 million. ScottishPower Renewables is developing the EA2 project off the coast of East Anglia, with offshore operations slated for 2027. Cadeler will deploy…
ABB India launches new Smart Home automation system
ABB India, a global leader in electrification and automation, has introduced ABB-free@home®, a Smart Home automation system in India designed to enhance comfort, security, and energy efficiency for residential users. This wireless solution allows users to integrate and control various devices, including white goods, third-party gadgets, and EV chargers, through a single interface. The ABB-free@home® system includes a Matter Bridge Add-on, enabling seamless integration with a variety of smart devices via the emerging open-source Matter…