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Sterling Tech-Mobility collaborates with Chinese firm for EV component plant

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Sterling Tech-Mobility has announced plans to set up a manufacturing facility in Bengaluru, Karnataka, in partnership with Chinese firm Kunshan GLVAC Yuantong New Energy Technology.  This initiative will focus on producing high-voltage DC (HVDC) contactors and relays, essential components for electric and hybrid vehicles (EVs and HEVs).  Projected to generate Rs 2.5 billion in revenue by FY30, the facility aims to strengthen India’s EV supply chain by enabling domestic access to advanced technology. Sterling Tools…

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Waaree Energies secures 180 MWp solar module supply order

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Waaree Energies has secured an order to supply up to 180 MWp of solar modules to a prominent renewable energy developer in India.  Deliveries are set to begin at the end of November 2024 and conclude by the fourth quarter of fiscal year 2025.  This contract underscores Waaree’s role in advancing India’s renewable energy infrastructure.

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HP Green R&D Centre inks tie-up with EIL for hydrogen technology

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Hindustan Petroleum Corporation’s R&D arm, HP Green R&D Centre (HPGRDC), has entered a collaboration with Engineers India Limited (EIL) to commercialise its indigenous hydrogen pressure swing adsorption (HP-PSA) technology.  Under this partnership, HPCL will act as the “Technology Licensor,” while EIL will be the exclusive “Technology & Engineering Partner,” responsible for engineering, marketing, and commercialising HP-PSA technology across India. The HP-PSA technology, developed by HPGRDC, has proven effective with a six-bed hydrogen PSA unit at…

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Waaree Renewable posts robust Q2 growth with Rs 5,244.7 million revenue

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Waaree Renewable Technologies Limited (WRTL), the solar EPC arm of Waaree Group, reported Q2 FY25 revenue of Rs 5,244.7 million, a 249.50% increase from Rs 1,500.6 million in Q2 FY24. Profit after tax (PAT) stood at Rs 535.2 million, while its unexecuted order book remains at 1.7 GWp with a 9-12 month timeline. For H1 FY25, revenue reached Rs 7,608.2 million, up 172.70% year-on-year, with an EBITDA of Rs 1,126.5 million, marking a 155.56% increase….

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Gentari, Juniper Green, and others secure SJVN’s 1.2 GW hybrid power auction

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Gentari Renewables India Utilities 2, Juniper Green Energy, EG Energy Development (Enfinity Global), Sunsure Solarpark RJ One, and Adyant Enersol (Datta Infra) emerged as winners in SJVN’s Phase III auction for 1,200 MW of ISTS-connected wind-solar hybrid power projects in India.  Gentari, Juniper, EG Energy, and Adyant secured 400 MW, 300 MW, 300 MW, and 70 MW, respectively, at Rs 3.19 per kWh. Sunsure won 130 MW of its quoted 150 MW using the bucket-filling…

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ACME Solar launches Rs 30 billion IPO

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ACME Solar launched its initial public offering (IPO) today, November 6, 2024, valued at Rs 30 billion, with a price band of Rs 275 to Rs 289 per equity share. The IPO, open until Friday, November 8, 2024, requires a minimum bid of 51 shares, with additional bids in multiples of 51.  The offering includes a fresh issue of Rs 23.95 billion and a sale offer of Rs 5.05 billion by ACME Cleantech Solutions. An…

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NTPC and RVUNL form joint venture for Chhabra thermal power plant

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NTPC Limited has signed a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to jointly own and operate the Chhabra thermal power plant.  The 2,320 MW plant, currently managed by RVUNL, comprises four 250 MW units (Stage 1) and two 660 MW units (Stage 2). Under this 50:50 partnership, the joint venture aims to manage the plant’s operations and explore capacity expansion opportunities.

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Tata Power reports Rs 10.93 billion net profit in Q2, up 7.47% YoY

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Tata Power Company Limited posted a net profit of Rs 10.93 billion for the quarter ending September 2024, marking a 7.47 per cent rise from Rs 10.17 billion in the same period last year.  The company’s total income grew by approximately 1.13 per cent to Rs 162.11 billion in Q2 FY2024, up from Rs 160.3 billion in the corresponding quarter of the previous year.

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NTPC approves Rs 800 billion investment for 6,400 MW thermal projects

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NTPC‘s board has approved investment proposals totalling approximately Rs 800 billion for thermal power projects with a combined capacity of 6,400 MW. The approved projects include: Telangana Super Thermal Power Project, Phase-II: 3×800 MW units at an estimated cost of Rs 293.44 billion. Gadarwara Super Thermal Power Project, Stage-II: 2×800 MW units at an estimated cost of Rs 204.45 billion. Nabinagar Super Thermal Power Project, Stage II: 3×800 MW units at an estimated cost of…

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Apollo Green plans 500 MW solar module plant

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Apollo Green Energy is set to establish a 500 MW solar module plant within the next two to three years, aligning with India’s target to reach 500 GW of renewable capacity by 2030, up from the current 154 GW.  The company, specializing in renewable projects, has an order book of Rs 35 billion (USD 416 million) and aims to expand it to Rs 100 billion within this financial year.  The site for the plant is…