ArcelorMittal Brazil has announced contracts to develop two solar energy projects with a combined capacity of 465 MW, covering 14% of its electricity needs. The first project, in partnership with Casa dos Ventos, involves a 200 MW solar power plant in Bahia. The second, in collaboration with Atlas Renewable Energy, is a 265 MW solar power plant in Minas Gerais. Both projects are pending regulatory approval.
Premier Energies Ltd, a solar cell and module manufacturer, has set a price band of Rs 427-450 per share for its Rs 28.3 billion initial public offering (IPO). The IPO will open from August 27 to August 29, with bidding for anchor investors starting on August 26. The offering includes a fresh issue of shares worth Rs 12.91 billion and an offer-for-sale (OFS) of up to 34.2 million shares, valued at Rs 15.39 billion at…
Gensol Engineering announced that it has secured a 16-megawatt rooftop solar project from a textile company in Madhya Pradesh, under the commercial and industrial (C&I) segment. The project will be executed on an engineering, procurement, and construction (EPC) basis. The company received a Letter of Award (LOA) for the turnkey EPC rooftop solar project, which will be completed in six months. The project will use high-efficiency bi-facial solar modules that absorb sunlight from both sides,…
The Andhra Pradesh government will soon unveil an ‘Integrated Renewable Energy Policy,’ following Brookfield’s announcement to invest over Rs 500 billion in the state over the next three to five years. The policy will cover solar, wind, hybrid energy, energy storage, green hydrogen, biofuels, and electric vehicle charging infrastructure. Brookfield’s joint venture with Axis Energy, Evren, plans to install a total of 8,873 MW of solar and wind capacity in Andhra Pradesh. State Minister Nara…
Indian state-run companies, including THDC India, NHPC, India Infrastructure Finance, and Indian Renewable Energy Development Agency, are set to raise around Rs 50 billion ($595.61 million) through long-term bonds in the next two weeks. This move takes advantage of falling government bond yields and limited state debt supply, creating strong investor demand. With India’s 10-year bond yield at around 6.85% and 15-year yield at 6.90%, insurance companies are keen to invest in highly rated, long-duration…
Commerce and Industry Minister Piyush Goyal highlighted the vast potential for economic cooperation between India and Africa, proposing to double two-way trade to USD 200 billion in the next seven years. Speaking at CII’s India-Africa business conclave, Goyal identified key sectors for collaboration, including agriculture, pharmaceuticals, mining, tourism, auto, critical minerals, and renewable energy. Goyal emphasized the need to engage more African countries in India’s duty-free tariff preference (DFTP) scheme, noting that currently, only a…
During a visit to Poland, Prime Minister Narendra Modi and Polish Prime Minister Donald Tusk committed to enhancing energy security and upholding international peace. The leaders agreed to collaborate in multilateral forums to ensure a stable, rules-based international order, marking the 70th anniversary of their diplomatic relations. Amid global conflicts and tensions, both Prime Ministers stressed the importance of energy security, particularly in light of the war in Ukraine, which has negatively impacted global food…
Early-stage venture capital firm Capital-A is set to launch its second fund, “Fund 2,” aimed at accelerating the growth of startups in emerging sectors like cleantech, fintech, and deeptech. This move follows the success of its first fund, launched in 2021, which raised Rs 2.5 billion to support a range of innovative ventures. Ankit Kedia, Founder and Lead Investor at Capital-A, emphasized that Fund 2 will focus on climate tech, fintech, and deeptech, reflecting the…
BC Jindal Group has announced its entry into India’s renewable energy sector, planning to invest approximately $2.5 billion over the next five years. The group has established Jindal India Renewable Energy (JIRE) to manage this endeavour, aiming to achieve decarbonization and ensure responsible environmental stewardship. JIRE’s goal is to produce 5 GW of power through hybrid, solar, wind, and Floating Solar and Direct Renewable Energy (FDRE) technologies. Currently, BC Jindal Group is developing 1,200 MW…
India and the United States have expanded their bilateral cooperation in the energy sector, focusing on grid modernization, energy storage, and enhancing manufacturing capacity. This development was highlighted during a meeting between Union Power Minister Manohar Lal Khattar and John Podesta, Senior Advisor to the President for International Climate Policy. Manohar Lal emphasized the strong partnership between India and the US and reiterated the Ministry of Power’s commitment to the ‘Power & Energy Efficiency Pillar’…
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