Search Results for: REC

REC Power Development & Consultancy Ltd (RECPDCL) has established a project special purpose vehicle (SPV) named “Rajasthan IV 4A Power Transmission Ltd” for the development of an interstate transmission system (ISTS) scheme associated with renewable energy evacuation in Rajasthan. The SPV was incorporated on August 6, 2024, as a wholly-owned subsidiary of RECPDCL, which is serving as the bid process coordinator (BPC) for the project. The developer for the scheme will be selected through a…

JSW Energy has been awarded an ‘A’ rating for Environment, Social, and Corporate Governance (ESG) by Morgan Stanley Capital International (MSCI). Recognized globally, MSCI’s ratings serve as a crucial tool for the international investment community. This achievement positions JSW Energy among the top ranks of domestic peers in the power generation industry, underscoring its robust ESG policies. The high rating reflects the company’s effective carbon emissions management and strategic focus on renewable energy. Under its…

The Indian Energy Exchange (IEX) achieved its highest-ever total trade volume of 13,250 million units (MU) in July 2024, marking a 56% increase year-over-year. This total includes renewable energy certificates (RECs) and energy-saving certificates, according to an IEX statement. Electricity volumes reached 10,093 MU, a 29% increase year-over-year. RECs experienced a significant surge, with volumes hitting 3,150 MU, up by 405% compared to the previous year. Additionally, green electricity volume grew by 259%, reaching 1…

Italian electric motor component maker EuroGroup Laminations (EGLA) is set to acquire a 40% stake in India’s Kumar Precision Stampings.   Milan-based EGLA specializes in stators and rotors, key components of electric motors and generators, supplying major automotive and industrial manufacturers, including Volkswagen, Renault, Ford, GM, and a major undisclosed U.S.-based EV maker. EGLA will invest EUR 19.9 million for the stake in Kumar, which also produces stators and rotors for various industrial applications, facilitating EGLA’s…

Shakti Pumps (India) Ltd announced it has received a Letter of Intent (LoI) from the Department of Agriculture, Uttar Pradesh, for the supply, installation, and commissioning of 12,537 solar water pumps across the state. The contract, valued at approximately Rs 5.58 billion, was awarded under Component-B of the PM-KUSUM scheme (Phase-III). The project is to be completed within 120 days from the issuance of the letters of proceed. Under Component-B of the PM-KUSUM Scheme, individual…