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MOS Utility to enter solar business with new Memorandum of Association clause
Fintech firm MOS Utility’s board has proposed a foray into the solar business, approving the alteration of the object clause in its Memorandum of Association. The new clause will enable MOS Utility to manufacture, assemble, purchase, import, and export various solar products, including PV modules, cells, batteries, energy storage devices, and related equipment and accessories. This strategic move aims to tap into growth opportunities within the solar market, aligning with global sustainability trends. The company…
REC Limited’s market capitalization and net profit surge in Q1 FY 2024
REC Limited’s market capitalization surged by 219 per cent in the first quarter, reaching Rs 600 billion. Additionally, REC’s net profit saw an increase of Rs 3.44 billion, resulting in a total profit of Rs 32.23 billion for the quarter. This performance is attributed to higher income from operations, reduced finance costs, and improved asset quality. REC’s income from operations rose to Rs 100.71 billion, an 11 per cent increase compared to the previous year….
Honda Power partners with Bhago Mobility for green fleet
Honda Power Pack Energy, a subsidiary of Honda Power Company, has partnered with Bhago Mobility to offer green fleet management services for electric vehicles in last-mile delivery. The collaboration will deploy Honda e: Swap-powered electric vehicles in Bangalore and Delhi, benefiting e-commerce fleets and passenger mobility. Bhago Mobility plans to launch 100 electric cargo vehicles in the coming months of 2024, to expand to 10,000 vehicles within three years. These vehicles will be stationed at…
India eyes pipeline network for cost-effective green hydrogen transport, study underway
The Indian government has launched a study to assess the costs and reliability of transporting green hydrogen through pipelines from renewable energy regions to ports, for both domestic consumption and export. The study, led by a team including GAIL, Indian Oil Corporation (IoCL), the Central Electricity Authority (CEA), and NTPC, will explore the feasibility of transporting green hydrogen either via power transmission lines or pipelines. Ghanshyam Prasad, Chairperson of the CEA, noted the challenges of…
Grenergy and CATL to supply battery for Chile’s Oasis de Atacama solar project
Grenergy has formed a strategic partnership with Contemporary Amperex Technology Co (CATL) to supply batteries for the fourth phase of the Oasis de Atacama solar and storage project in Chile. CATL will provide 1.25 GWh of its EnerX model battery containers, comprising over 7,100 modules, known for high energy density and robust safety features suited to the project’s high-altitude location at 4,000 meters above sea level. The Oasis de Atacama project, located in northern Chile,…
Iran and Tajikistan discuss strengthening energy and water
The Ministry of Energy in Iran and the Ministry of Energy and Water Resources in Tajikistan are in discussions to enhance cooperation in electricity, water, and other key sectors. The talks, held within the framework of the joint economic committee, focused on boosting trade, facilitating Iranian business operations in Tajikistan, and advancing water and energy initiatives. Both countries expressed optimism about future partnerships, particularly in the energy sector. They aim to increase trade to USD…