GE Power India Limited has received a purchase order valued at Rs 209 million from Madhya Pradesh Power Generating Company Limited (MPPGCL) to supply boiler parts at the Sanjay Gandhi Power Station. The order, subject to an additional 18% goods and service tax, is to be executed within 3.5 months.
Ahasolar Technologies Limited has received an order worth Rs 16.5 million from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH to develop an online national portal for the PM Surya Ghar: Muft Bijli Yojana. The portal will manage rooftop photovoltaic (PV) applications and provide capacity-building support to discoms. The project will also include consultancy support for REC Limited in implementing the scheme, offering training, and coordinating with discoms across India. The order is expected to be completed…
Power Finance Corporation Limited (PFC) has secured a USD 1.26 billion foreign currency term loan, marking the largest such loan ever raised by an Indian public sector undertaking. The loan was arranged through a facility agreement with multiple banks at IFSC GIFT City, Gandhinagar, and will be used to fund green energy projects outside the thermal generation sector. The loan has a floating interest rate of 4.21% per annum with a five-year tenure. The participating…
Kundan Green Energy has committed an investment of Rs 10 billion to expand its renewable energy portfolio by 2028, aligning with India’s target of generating 500 GW of renewable energy. The company plans to invest Rs 130-150 million per megawatt in new projects, focusing on strengthening infrastructure to meet future energy demands. The expansion includes integrating advanced pumped storage systems in upcoming hydropower projects, aiming to boost energy production efficiency. Kundan Green Energy is also…
Avaada Group has laid the foundation stone for a Rs 136.5 billion manufacturing facility at Addl. Butibori Industrial Park in Nagpur. The project, aimed at boosting India’s renewable energy capabilities, will create over 5,000 jobs and support the country’s goal to cut carbon emissions by 50% by 2030. The plant, inaugurated by Maharashtra Deputy Chief Minister Devendra Fadnavis, will focus on the solar value chain, including ingot-wafer, PV cells, and modules, as well as next-generation…
Hitachi Energy plans to invest Rs 20 billion in India over the next four to five years to expand its transformer capacity, talent base, and portfolio. The investment will focus on large and small power transformers, dry and traction transformers, and insulation and components. It will also strengthen the company’s high voltage direct current (HVDC) capacity and enhance its network control solutions for industries, utilities, and transportation sectors.
Servotech Power Systems has received an additional order from Nashik Municipal Corporation (NMC) to install nine EV charging stations in Maharashtra. This expansion aims to address the increasing demand for convenient EV charging infrastructure, supporting both intercity and interstate travel with clean energy. With this new order, the total number of EV charging stations set up by Servotech for NMC will reach 29. The company had previously been tasked with supplying, commissioning, and constructing 20…
Megha Engineering & Infrastructures (MEIL) has commissioned five solar plants in Maharashtra with a combined capacity of 19 MW, set up under the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyaan (PM-KUSUM) scheme. The solar plants are located in Shambhaji Nagar (3 MW), Nanded (5 MW), Kolhapur (3 MW), Akola (3 MW), and Buldhana (5 MW). The power generated will provide uninterrupted electricity to farmers, reducing their electricity costs, while any excess power will be…
Exicom, an EV charging solutions provider, has acquired Tritium, a global leader in direct current (DC) fast charging technology, for USD 37 million. As part of the acquisition, Exicom will establish a manufacturing facility in Hyderabad by the end of 2025 to produce advanced EV charging solutions using Tritium’s technology. The acquisition includes absorbing Tritium’s entire workforce of 300 employees, allowing Exicom to enhance its operational capabilities across multiple geographies. Tritium’s expertise in designing and…
CG Power and Industrial Solutions (CG), part of the Murugappa Group, has acquired the radio frequency (RF) components business of Renesas Electronics Corporation for USD 36 million. The asset purchase agreement, signed on October 4, 2024, involves CG acquiring intellectual property (IP), tangible assets, and select employees from Renesas Electronics America and its affiliated entities. This acquisition strengthens India’s presence in the semiconductor design and development sector, a high-growth area.