Insolation Green Energy Private Limited, a subsidiary of Insolation Energy Limited, has signed a memorandum of understanding (MoU) with the Rajasthan government during the Rising Rajasthan Global Investment Summit 2024.
The agreement involves an investment of Rs 100 billion for solar power generation projects, manufacturing facilities for solar components, engineering, procurement, and construction (EPC) projects, and the development of solar parks in Rajasthan.
Uber Technologies and BYD Company Limited have announced a multi-year partnership to introduce 100,000 new BYD electric vehicles (EVs) onto the Uber platform across key global markets. Starting in Europe and Latin America, the initiative will expand to the Middle East, Canada, Australia, and New Zealand. This partnership aims to provide Uber drivers with access to competitive pricing and financing for BYD vehicles, accelerating the adoption of EVs on the Uber platform. Both companies are…
The Indian Energy Exchange (IEX) reported a traded electricity volume of 9,642 million units (MU) in October 2024, marking a 4% year-on-year growth. IEX also traded 4.44 lakh renewable energy certificates (RECs) in October, a notable 105% increase from the previous year. India’s energy consumption for October reached 140.4 billion units (BUs), a 1% increase from the previous year, according to government data. The Market Clearing Price in the Day-Ahead Market (DAM) fell 39% year-on-year…
Eaton’s newly expanded 120,000 sqft electrical manufacturing facility in Puducherry was inaugurated on October 11, 2024, by Chairman and CEO Craig Arnold. The facility includes a 100,000 sqft shop floor for power distribution products and 20,000 sqft for utilities and supporting infrastructure. This expansion, extending Eaton’s manufacturing footprint in Puducherry to over 2.6 lakh sqft, aims to double production capacity. The facility will produce key products such as air circuit breakers (ACBs), moulded case circuit…
Solar91 Cleantech, a Jaipur-based solar energy solutions provider, has filed its preliminary papers for an initial public offering (IPO) on the BSE SME platform. The IPO consists of a fresh issue of 5.436 million shares at a face value of Rs 10 each, targeting to raise approximately Rs 1 billion through the book-building route. The proceeds will be used for project development as an independent power producer (IPP), along with meeting working capital needs and…
Reliance Power Ltd has announced that it had fully settled its Rs 38.72 billion obligation as a guarantor for Vidarbha Industries Power (VIPL). The settlement has resulted in the release of all corporate guarantees, undertakings, and obligations linked to the outstanding debt. As part of the agreement, 100% of VIPL’s shares have been pledged to CFM Asset Reconstruction, relieving Reliance Power of its corporate guarantee commitments. The company also confirmed it is now debt-free with…
Hartek Power, a leader in grid infrastructure and solar EPC, has crossed 10 GW of combined capacity across its business units. The company has built EHV/HV substations up to 400 KV for independent power producers (IPPs) and utilities, supporting grid expansion and the energy transition to renewables. Hartek’s rooftop solar unit ranks among the top four in India. Recently, Hartek secured a 765 KV power systems project from PGCIL and is currently executing a 300…