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.
GK Energy Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). The IPO consists of a fresh issue of shares worth up to Rs 5 billion, along with an offer for sale of up to 8.4 million equity shares by existing shareholders. The shares will have a face value of Rs 2, and the offer includes reservations for…
Insolation Energy Limited has received 45 acres of land from the Madhya Pradesh government to establish a solar manufacturing facility. The proposed unit will have a production capacity of 3 GW for solar cells, 4 GW for solar modules, and 24,000 metric tonnes of aluminium frames. The project will be developed by Insolation Green Energy, a subsidiary of Insolation Energy, within the Power and Renewable Energy Equipment Zone in Narmadapuram, Madhya Pradesh. The project will…
The Bhubaneswar Municipal Corporation (BMC) has partnered with Oil India Limited (OIL) to establish a biogas plant in Nayapalli, Bhubaneswar, as part of a waste-to-wealth initiative. The facility will process wet waste from the city to produce biogas fuel. The Housing and Urban Development Department has allocated 8 acres of land for the project. Initially, the plant will process 200 tonnes of wet waste daily, with the potential to expand by an additional 100 tonnes….
Indian Metals & Ferro Alloys (IMFA) has formed a joint venture with JSW Green Energy to source 70 MW of renewable energy for its smelting operations. IMFA has signed a binding term sheet with JSW Green Energy One and JSW Green Energy Seven, committing Rs 832.6 million to a wind-solar hybrid project, which includes 50 MW solar and 100 MW wind capacity. The company will also finalize a 25-year power purchase agreement as a captive…
Grew Energy has announced it will supply 500 MW of solar modules for Jindal Renewables’ solar power project in Rajasthan. Jindal Renewables is developing around 3 GW of renewable energy assets with power off-take agreements in place. By 2030, the company plans to expand its portfolio to 12 GW, including storage facilities and green hydrogen production. Grew Energy, a venture of Chiripal Group, manufactures solar modules with a 6.4 GW PV module capacity. The company…
Honeywell has secured a contract to deliver building automation solutions for Exide Energy Solutions Ltd (EESL), a subsidiary of Exide Industries Ltd. The project will involve deploying Honeywell’s Enterprise Buildings Integrator (EBI) platform for centralized monitoring and control of the 80-acre lithium-ion gigafactory campus in Bengaluru. These solutions will enhance operational efficiency, improve incident response, optimize energy use, and bolster security during phase one of the facility’s construction. The gigafactory, set to be completed in…
The Central Electricity Regulatory Commission (CERC) has granted a final transmission licence to “Bhadla-III Transmission Ltd,” a wholly-owned TBCB subsidiary of Power Grid Corporation of India Ltd (PGCIL). The licence, issued on December 15, 2024, is valid for 25 years unless revoked earlier. Bhadla-III Transmission Ltd is developing an ISTS scheme titled “Additional transmission system for evacuation of power from Bhadla-III PS as part of Rajasthan REZ Phase-III (20 GW)” under the build, own, operate,…
On December 19, 2024, Gujarat Urja Vikas Nigam Limited (GUVNL) announced the winners of its 500 MW Solar Photovoltaic (PV) Power Projects under Phase XXV without energy storage systems (ESS). The successful bidders are: Drashta Green Power Limited: 10 MW at Rs 2.55 per kWh S.B.B. Mouldings Private Limited: 10 MW at Rs 2.55 per kWh Enertech Fuel Solutions Private Limited: 40 MW at Rs 2.55 per kWh Kintech Synergy Private Limited: 50 MW at…
Federal Bank has partnered with Ecofy, a green-focused NBFC backed by Eversource Capital, to offer financing solutions for MSMEs investing in rooftop solar installations. The program targets financing 3,600 kW of rooftop solar annually, focusing on installations in the 20-200 kW range, a segment often underserved by lenders. This initiative is expected to reduce over 2,500 tonnes of carbon emissions each year while addressing MSMEs’ financial barriers. Federal Bank, with MSME loans comprising over 20…