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Reliance (Anil Ambani) to develop green energy projects in Bhutan
Anil Ambani-led Reliance Group has announced plans to collaborate with Druk Holding & Investments Ltd (DHI), the commercial arm of the Royal Government of Bhutan, to develop green energy projects, focusing on solar and hydropower initiatives. The partnership will also explore innovative green technologies to support Bhutan’s net-zero goals. Reliance Group has launched a new flagship company, Reliance Enterprises, jointly promoted by Reliance Infrastructure Ltd and Reliance Power Ltd, to promote investments in Bhutan’s renewable…
RWE, AMG in deal to supply green ammonia from India
RWE has signed a memorandum of understanding with AM Green Ammonia (AMG) for the long-term annual supply of up to 250,000 tonnes of green ammonia. The ammonia, derived from hydrogen, will be produced at AMG’s facilities in Kakinada and Tuticorin, India. Initially, 50,000 tonnes will be produced at Kakinada, with the remaining 200,000 tonnes sourced from the Tuticorin facility. The green ammonia will meet the EU’s Renewable Fuels of Non-Biological Origin (RFNBO) standards under the…
Borosil Renewables acquires 49 per cent stake in Clean Max
Borosil Renewables Limited has signed a share purchase agreement with Clean Max Prithvi Private Limited (CMPPL) and Clean Max Enviro Energy Solutions Private Limited (CMEESPL) to acquire a 49% stake in CMPPL. The acquisition involves purchasing 4,900 equity shares of Rs 10 each, representing 49% of CMPPL’s paid-up share capital, for Rs 49,000. Under the agreement, CMPPL plans to develop and operate a 16.50 MW hybrid solar-wind power plant in Gujarat. The power generated from…
Equinor and Polenergia engage consortium for design and permits of Baltyk 1 wind farm
Norway’s Equinor and Polish utility Polenergia have contracted a consortium comprising Ramboll and Projmors to provide consultancy services for the design and construction permits for their up-to-1.56 GW Baltyk 1 offshore wind farm. Located 81 km offshore Poland, Baltyk 1 is preparing for participation in a 2025 auction. The consortium will focus on achieving ready-to-build status for the project, leveraging Ramboll’s expertise in engineering and consulting and Projmors’ hydrotechnical design experience crucial for offshore wind…
NLC India and RRVUNL to set up lignite-based thermal power plant in Rajasthan
NLC India Limited (NLCIL) has entered into a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to establish a 3×125 MW lignite-based thermal power plant in Rajasthan, along with developing lignite mines to fuel the station. The initial paid-up capital for this project is set at Rs 500,000, with NLCIL holding a 74% stake and RRVUNL holding 26%. In addition, NLC India Renewables Limited, a subsidiary of NLCIL, has also signed a…
Vikram Solar files for Rs 15 billion IPO with SEBI
Vikram Solar Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue worth up to Rs 15 billion and an offer-for-sale (OFS) of 17.45 million equity shares by its promoters. The face value of each equity share is Rs 10, with a reservation for eligible employees, offering them a discount in the subscription segment. The company may…