Lubi Industries has secured a contract from Bharat Petroleum Corporation Limited (BPCL) to manufacture, supply, install, and commission 1,400 fast DC electric vehicle (EV) chargers across India. These chargers, with a 60 kW capacity, will be installed at BPCL retail outlets to provide reliable and efficient charging solutions for EV users. This project represents a…
Ecozen, a clean energy technology company, has raised over $23 million in debt funding from investors including responsAbility Investments, Northern Arc Capital, and Maanaveeya Development & Finance. The funds will support the scaling of flagship solutions like Ecotron, Ecofrost, and advanced motor control systems, as well as domestic and international expansion. The company has achieved…
Sun Drops Energia Private Limited, a subsidiary of KPI Green Energy Limited, has received orders to develop 62.2 MW of solar power projects under the captive power producer (CPP) business segment. The projects are aligned with the distributed renewable energy bilateral purchase policy and the Gujarat Renewable Energy Policy 2023. They are set to be…
Masdar, SOCAR Green, and ACWA Power have signed a memorandum of understanding (MoU) to develop 3.5 GW of offshore wind capacity in the Azerbaijan section of the Caspian Sea. These will be the country’s first offshore wind farms, supporting Azerbaijan’s renewable energy, green hydrogen, and water desalination goals. The MoU was signed by key leaders:…
The UAE has launched the world’s first large-scale, round-the-clock gigascale energy storage project in Abu Dhabi, combining a 5.2GW solar power plant with a 19GWh battery energy storage system (BESS). The initiative enables the UAE to dispatch renewable energy 24/7, addressing intermittency challenges that have hindered renewable energy deployment globally. The project will deliver 1GW…
The planned Sizewell C nuclear power station in Suffolk, UK, is expected to cost nearly £40bn ($48.7bn), double the initial £20bn estimate due to rising construction costs and delays at the Hinkley Point C site, according to the Financial Times. This price increase raises concerns about the UK government’s nuclear revival strategy amid public finance…
The German government’s 99% stake in power company Uniper has attracted interest from potential buyers, including Abu Dhabi’s Taqa and Norway’s Equinor, according to Bloomberg News. Germany is looking to reduce its holding, with Uniper’s value expected to exceed €10bn ($10.3bn). The government is considering options to exit, either through a single buyer or a…
The Climate Investment Funds (CIF) capital markets mechanism (CCMM) raised $500m through its debut bond, marking a historic step in mobilising finance for climate action. The bond was six times oversubscribed, attracting over $3bn in global investor interest. This inaugural bond, part of CCMM’s borrowing programme launched at COP29 in November 2024, aims to scale…
Vietnam and Russia have signed an agreement to enhance nuclear energy cooperation during Russian Prime Minister Mikhail Mishustin’s visit to Hanoi, as reported by Reuters. The Southeast Asian nation is working to ramp up power production to support its growing industrial sector. The agreement, between Russia’s Rosatom and Vietnam’s state-owned EVN, is part of a…
China has unveiled plans to develop space-based solar stations, aiming to collect energy unaffected by weather or night cycles. The project involves installing a 1 km-wide solar array in geostationary orbit, 36,000 km above Earth. Senior scientist Long Lehao compared the initiative to the Three Gorges Dam in orbit, highlighting its potential to generate yearly…