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CG Power acquires Renesas’ radio frequency components business

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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. 

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Reliance Power settles Rs 38.72 billion guarantee for VIPL

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Global energy efficiency improvements lag behind COP28 targets: IEA

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Gevo secures DOE loan for Net-Zero aviation fuel plant in South Dakota

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Rosa Power becomes zero-debt company

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Rosa Power Supply Company, a subsidiary of Reliance Power, has achieved zero-debt status after prepaying Rs 13.18 billion to Singapore-based lender Varde Partners.  The company initially paid Rs 8.33 billion in September, followed by the remaining Rs 4.85 billion to complete its debt repayment ahead of schedule. The loan, taken in 2022 for refinancing and cost reduction, has now been fully cleared. Reliance Power is concurrently enhancing its financial stability through a Rs 15.25 billion…

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Government launches PM E-DRIVE Scheme with Rs 109 billion

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The government has launched the PM E-DRIVE Scheme, allocating Rs 109 billion to accelerate the adoption of electric vehicles (EVs), develop charging infrastructure, and boost India’s EV manufacturing ecosystem. The scheme will run from October 1, 2024, to March 31, 2026, subsuming the ongoing EMPS-2024 scheme. The scheme offers subsidies for electric two-wheelers (e-2Ws) based on battery power, providing Rs 5,000 per kilowatt hour in the first year, capped at Rs 10,000. In the second…

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