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Epic Energy announces JV for EV charger manufacturing in Coimbatore
Epic Energy (EPIC) has announced a joint venture with Fenfeo Automotive to set up an electric vehicle (EV) charger manufacturing facility in Coimbatore, Tamil Nadu. The plant will initially produce 15,000 chargers annually, with plans for expansion based on market demand. EPIC will hold a 76% stake in the JV, while Fenfeo will own 24%. The project requires an estimated investment of Rs 50 million, with an expected annual gross revenue of Rs 150 million…
L&T wins new mandates in digital energy solutions space
Larsen & Toubro’s Digital Energy Solutions (DES) business, part of its Power Transmission & Distribution arm, has received a mandate to implement Energy Management Systems (EMS) in regional and state load dispatch centres across South India. This project will upgrade control rooms for the Southern Regional Load Dispatch Centre (SRLDC) and the State Load Dispatch Centers (SLDC) of Andhra Pradesh, Kerala, Puducherry, Tamil Nadu, and Telangana. L&T DES will ensure the system integration without any…
Kaynes Technology to inaugurate advanced electronics unit in Telangana
Kaynes Technology, an electronics manufacturing services firm, will inaugurate an advanced electronics unit at Kongara Kalan, Telangana, on August 23, 2024. Following a memorandum of understanding (MoU) signed with the Telangana government in October 2023, the company has invested Rs 28.5 billion in the project. The unit will focus on services such as printed circuit board (PCB) manufacturing and other components. Additionally, Kaynes Technology is planning to establish a sophisticated OSAT (Outsourced Semiconductor Assembly and…
Maharashtra becomes India’s second-largest state for rooftop solar installations
According to a recent report by Mercom India, Maharashtra has emerged as the second-largest state in India for cumulative rooftop solar installations, contributing 13.3% to the country’s total photovoltaic (PV) installations. The state has installed 1.5 GW of rooftop solar capacity, trailing only Gujarat, which leads with 3.2 GW. The Mumbai Metropolitan Region (MMR) alone accounts for 8% of Maharashtra’s total installed rooftop capacity. The report also highlights that Maharashtra added 95 MW of rooftop…
B&W secures $246m coal-to-natural gas conversion project for AES Indiana
Babcock & Wilcox’s (B&W) Thermal segment has received full notice to proceed on a $246 million coal-to-natural gas conversion project at AES Indiana’s Petersburg Generating Station. The project involves converting two coal-fired boilers at the 1.16 GW Petersburg plant to operate on natural gas, significantly lowering the facility’s carbon footprint. B&W Thermal will handle the design and installation of the new natural gas system, air systems, and associated equipment. B&W Construction (BWCC) will manage the…
UltraTech raises $500 million through sustainability-linked financing
UltraTech Cement has secured $500 million through sustainability-linked financing, involving participation from six major banks. This marks the company’s second sustainability-linked transaction, following its inaugural bond issuance in 2021, and underscores UltraTech’s commitment to aligning its funding strategy with its sustainability and ESG goals. The banks involved in the transaction are Sumitomo Mitsui Banking Corporation (SMBC), State Bank of India (SBI), BNP Paribas, DBS, MUFG, and Mizuho. SMBC played a pivotal role, acting as the…