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Adani Green and TotalEnergies to form joint venture with $444 million investment

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India’s Adani Green Energy announced that its board has approved agreements for a TotalEnergies affiliate to invest $444 million in a new joint venture with the company. This follows a previous $300 million deal between Adani Green and the French oil major to expand renewable energy capacity in India, where coal remains the primary energy source. The joint venture will include Adani Green, Adani Renewable Energy Sixty Four, and TotalEnergies Renewables Singapore, with each company…

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India to lead global bio-manufacturing revolution, says Jitendra Singh

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Union Minister Jitendra Singh stated that bio-manufacturing will shape the future of the global economy, and India, with its abundant bio-resources, is well-positioned to lead this revolution. Singh emphasized that, while the West led the IT revolution, India has the potential to spearhead the next big shift in bio-manufacturing. Singh pointed out that bio-manufacturing offers solutions to global challenges such as climate change, resource depletion, waste generation, and pollution. It can help meet the increasing…

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Union Cabinet approves new semiconductor unit in Gujarat

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The Union Cabinet has approved the establishment of a new semiconductor unit by Kaynes Semicon Pvt Ltd in Sanand, Gujarat. This facility will be India’s fifth semiconductor plant. The planned investment for the unit is Rs 33 billion, and it will have the capacity to produce 6 million chips per day. These chips will serve various industries, including automotive, electric vehicles, consumer electronics, telecom, and mobile phones. This initiative aligns with the Programme for Development…

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IREDA Chairman calls for Green Taxonomy and lower borrowing costs

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Shri Pradip Kumar Das, Chairman & Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), emphasized the agency’s commitment to reducing borrowing costs and improving the bankability of India’s renewable energy sector at the CII Financing 3.0 Summit in Mumbai. He stressed the importance of a Green Taxonomy in accelerating the growth of India’s green energy initiatives. During his address on “Green Financing, Climate Risks and Sustainable Taxonomy: Way Forward,” Shri Das highlighted…

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Automobile dealer revenue growth to slow to 7-9% this fiscal year: Crisil Ratings

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Crisil Ratings has projected a slowdown in automobile dealer revenue growth to 7-9% this fiscal year, down from a healthy 14% last year. The credit rating agency attributes this decline to slower volume growth and modest price hikes by automakers. Recent months have seen a slowdown in sales volume growth, prompting manufacturers and dealers to increase discounts and offers. While this primarily affects manufacturers, car dealership profitability is expected to drop to around 3%, slightly…

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Indian metal companies race to secure renewable energy amid EU carbon regulations

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Indian steel and metal companies are rushing to secure renewable energy deals to cut carbon emissions and avoid penalties under the EU’s upcoming Carbon Border Adjustment Mechanism (CBAM). This demand extends beyond large steel and aluminium companies to their suppliers, aiming to reduce emissions across their supply chains. Renewable energy providers report that demand outstrips current capacity, with new projects already sold out for the next few years. Avaada chairman Vineet Mittal indicated that due…

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Maharashtra becomes India’s second-largest state for rooftop solar installations

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According to a recent report by Mercom India, Maharashtra has emerged as the second-largest state in India for cumulative rooftop solar installations, contributing 13.3% to the country’s total photovoltaic (PV) installations. The state has installed 1.5 GW of rooftop solar capacity, trailing only Gujarat, which leads with 3.2 GW. The Mumbai Metropolitan Region (MMR) alone accounts for 8% of Maharashtra’s total installed rooftop capacity. The report also highlights that Maharashtra added 95 MW of rooftop…

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Ohmium to invest Rs 4 billion in Tamil Nadu for green hydrogen plant

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Tamil Nadu has secured a Rs 4 billion investment from US-based Ohmium International, Inc., to establish a green hydrogen manufacturing facility in Chengalpattu district. This announcement was made by Chief Minister M K Stalin during his visit to the United States. Ohmium International specializes in designing and manufacturing modular, scalable Proton Exchange Membrane (PEM) electrolyzers, which are essential for cost-competitive green hydrogen production. The company’s electro-chemical products support sustainable energy goals across various industrial, transportation,…

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India plans to establish 15,000 MW of green hydrogen electrolyzers by 2026

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India has announced a plan to set up 15,000 MW of green hydrogen electrolyzers by 2026, aiming to boost its renewable energy capabilities. The government has committed Rs 450 billion to support this green hydrogen push, which includes funding for the manufacturing of electrolyzers and the development of supporting infrastructure. 

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Vjaitra, Trouvé to develop hydrogen-powered air taxi

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Vjaitra Air Mobility, a division of Indian drone manufacturer Darsh Dronobotics Systems, has partnered with Trouvé Innovation Hub Inc. to develop a hydrogen-powered 5-seater air taxi with a capacity to cover distances up to 600 km. Through this partnership, Trouvé Innovation Hub Inc. will help Vjaitra Air Mobility secure funding to build a full-scale prototype of the Hydrogen Air Taxi. This eco-friendly, quieter, and more efficient alternative to traditional travel modes is designed to enhance…