Adani Energy Solutions Limited (AESL) established Adani Energy Solutions Step-Eleven Limited (AESSEL), a special purpose vehicle (SPV), on December 17, 2024.
The SPV will focus on transmission, distribution, power supply, and other infrastructure services.
Solarworld Energy Solutions Limited has raised Rs 1.1 billion through a pre-IPO placement, reducing the fresh issue component of its IPO from Rs 5.5 billion to Rs 4.4 billion. Initially, the company planned to raise Rs 6 billion, as per the draft red herring prospectus (DRHP) filed with SEBI in September. The IPO includes Rs 500 million as an offer-for-sale (OFS) by the promoter, Pioneer Facor IT Infradevelopers. On November 21, the company allotted 3.12…
Eco Wave Power Global, a leader in onshore wave energy technology, is set to inaugurate Israel’s first wave energy project in collaboration with EDF Renewables Israel. The pilot station, located at Warehouse 2 in Jaffa Port, is scheduled for launch on 5 December 2024, marking a significant advancement in wave energy as a sustainable electricity generation source. Israel’s President Isaac Herzog highlighted the importance of transitioning from polluting energy production to renewable energy sources, emphasizing…
The UK Office of Gas and Electricity Markets (Ofgem) has proposed reforms to address household energy debts, which have surged to £4bn ($5.1bn). The regulator suggests changes such as introducing tariffs without standing charges and standardizing how suppliers assess customers’ payment abilities. Energy debts have risen by 91% since 2022, reaching £3.82bn ($4.87bn) by September 2024. Despite reductions in energy bills under Ofgem’s price cap since the energy crisis triggered by Russia’s invasion of Ukraine,…
Despite inflation and supply chain disruptions, the global offshore wind sector grew by 7% in 2023, with a projected 9% increase to over 11 GW by the end of 2024. Rystad Energy forecasts that global offshore wind installations, excluding mainland China, will exceed 520 GW by 2040. Europe will lead, especially in floating wind technology, accounting for over 70% of global floating installations. The UK, France, and Portugal are expected to add up to 90…
The Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) and Hindustan Zinc Limited (HZL) have signed a Memorandum of Understanding (MoU) to develop and commercialize zinc-ion battery technologies. This collaboration aims to create new variants of zinc materials, offering a low-cost, domestically sourced alternative to expensive imported lithium-ion batteries. Zinc-ion batteries, utilizing abundant and inexpensive raw materials, hold great promise for large-scale energy storage due to their superior performance and safety. Recent advancements in zinc…
Avaada Group has proposed an investment of Rs 50 billion in Madhya Pradesh during a meeting with Chief Minister Mohan Yadav on September 16, 2024. This announcement was made during the Renewable Energy Investors Meet in Gandhinagar. Sembcorp Group expressed interest in the Morena and Neemuch solar projects, while Borosil Group plans to set up a solar panel glass production unit. The Wind Power Association requested the development of wind parks, and Torrent Power called…