On the third day of the 10th round of commercial coal mine auctions, Orissa Alloy Steel Private Limited secured the partially explored Kerendari-BC North coal block in Jharkhand, which has geological reserves of 600 million tonnes.
The company submitted the highest bid of 23.25% against a reserve price of 4%.
German energy group RWE has acquired a majority stake in R3 Renewables, a joint venture (JV) formed by US coal miner Peabody Energy, Summit Partners Credit Advisors (SPCA), and Riverstone Credit Partners. The deal, for an undisclosed sum, involves RWE taking over the shares of SPCA and Riverstone Credit Partners, with Peabody retaining a 25% stake in the JV. R3 Renewables focuses on repurposing former coal mining sites into clean, renewable energy projects. The JV…
Syrma SGS Technology has opened one of its largest integrated electronics manufacturing facilities in Ranjangaon, near Pune, Maharashtra. Spanning 26.5 acres, the new campus will feature a manufacturing area of 1.20 million sq. ft. at its peak, enhancing the company’s PCB assembly capabilities to meet rising domestic demand, especially in the automotive and industrial sectors. The first phase, covering over 60,000 sq. ft., is expected to generate around 1,000 direct jobs. The facility aims to…
On 21 September 2024, India signed agreements under the Indo-Pacific Economic Framework (IPEF) for Clean Economy, Fair Economy, and an overarching IPEF arrangement during Prime Minister Modi’s visit to the US. IPEF Clean Economy Agreement (Pillar-III) The Clean Economy Agreement focuses on boosting technical cooperation and clean energy technology deployment. It aims to accelerate renewable energy investments and provide concessional financing for MSMEs. Initiatives like the IPEF Catalytic Capital Fund, with USD 33 million (Rs…
Kinetic Green has secured a $25 million investment from Greater Pacific Capital (GPC) as part of a $40 million Series A funding round, marking its first external equity raise. The funds will accelerate production at Kinetic Green’s Supa, Maharashtra facility, and support the expansion of its electric two- and three-wheeler business. The investment will also aid in promoting the E-Luna, launched in January 2024, and expanding Kinetic Green’s global reach with its premium golf cart…
Grid Solutions, a GE Vernova business, has introduced the GRiDEA portfolio, a comprehensive suite of solutions designed to decarbonize the electrical grid and support the transition to sustainable energy. Unveiled at the CIGRE event in Paris, this portfolio highlights GE Vernova’s commitment to reducing carbon emissions and advancing electrification technology. The GRiDEA portfolio offers grid operators innovative solutions to significantly cut SF6 emissions and reduce the use of raw materials. Central to the portfolio are…
The Maharashtra government has signed MoUs with four companies worth Rs 475 billion to develop renewable energy projects, in line with the state’s goal to achieve 50% renewable energy by 2030. These projects are expected to create 18,828 jobs, as announced by Deputy Chief Minister Devendra Fadnavis. The companies involved include SJVN, MahaGenco Renewable Energy Ltd, RECPDCL, THDC, and HPRGE-HPCL. Key projects under these agreements include: RECPDCL: A 500 MW hybrid project with an investment…