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EBRD, Raiffeisen Bank provide €110 million for solar projects in Romania
The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International are jointly providing a €110 million financing package to develop two solar photovoltaic power plants in south-eastern Romania, with a combined capacity of around 300 MW. The Iepuresti and Ghimpati projects reflect growing confidence in Romania’s renewable energy sector, spurred by recent regulatory reforms supporting the country’s ambitious green energy goals. The financing package includes a €55 million loan from EBRD, matched by…
EaseMyTrip ventures into electric bus manufacturing with new subsidiary
Leading online travel platform EaseMyTrip.com is entering the electric vehicle (EV) market through its new subsidiary, Easy Green Mobility, focusing on electric bus manufacturing. This move comes as the Indian electric bus market is projected to grow at a 24% CAGR from 2024 to 2030. Easy Green Mobility will develop advanced electric buses equipped with cutting-edge technology and long-range battery systems. Another EaseMyTrip subsidiary, YoloBus, will handle the operational side of these buses. The company…
EU approves additional tariffs on Chinese electric cars amid trade war concerns
EU countries have approved additional tariffs of up to 35.3% on Chinese-made electric cars, despite opposition from Germany and concerns about triggering a trade war with Beijing. The European Commission found that China’s state subsidies to its auto manufacturers were unfair, leading to the imposition of these tariffs, which will take effect for five years starting in late October. The decision saw 10 member states, including France and Italy, supporting the tariffs, while Germany, Hungary,…
Highview Power to develop 2.5 GWh LDES project in Scotland
Highview Power has announced plans to build a long-duration energy storage (LDES) project with a capacity of 2.5 GWh in Ayrshire, Scotland. Located at Peel Ports’ property in Hunterston, North Ayrshire, the project will provide five times Scotland’s current battery storage capacity and is supported by the Scottish government. The Hunterston LDES project will be developed in two stages. The first phase will establish grid connections and provide grid stability services, while the second phase…
Viaro Energy and Terrestrial Energy partner to develop IMSR nuclear project in the UK
British energy company Viaro Energy and US-based Terrestrial Energy have signed a memorandum of understanding to develop the Integral Molten Salt Reactor (IMSR) nuclear project in the UK. The partnership aims to deliver reliable, emission-free, and cost-competitive nuclear energy using advanced reactor technology. Terrestrial Energy CEO Simon Irish emphasized that both companies share a vision for expanding nuclear energy to achieve energy security and net zero goals. They aim to deploy small and modular power…
Gensol, Matrix to develop India’s first green steel production facility
Gensol Engineering has partnered with Matrix Gas & Renewables to establish India’s first green steel production facility using 100% green hydrogen. The project, with a total capital expenditure of Rs 3.21 billion, will receive 50% capex incentives from the Government of India under the National Green Hydrogen Mission. Sanctioned as one of three pilot projects by MECON, in coordination with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE), the…