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Adani Green redeems USD 750 million Holdco notes
Adani Green Energy Limited (AGEL) has completed the redemption of USD 750 million Holdco notes via a fully funded redemption reserve account. The notes supported AGEL’s rapid growth, with its capacity expanding from 3.5 GW to 11.2 GW over the past three years, achieving a 48% compounded annual growth rate.
BlueFloat Energy strengthens partnerships for Taiwan’s floating wind demonstration programme
BlueFloat Energy has secured strategic collaborations with Taiwan’s Ship and Ocean Industries R&D Center (SOIC) and the CR Classification Society to support its bid for Taiwan’s floating wind demonstration programme. These partnerships will enhance the company’s project development capabilities in the region. In addition, BlueFloat Energy signed a memorandum of understanding with National Taiwan University’s Ocean Center to conduct a comprehensive morpho-dynamic study for its Winds of September project. This study will analyze Taiwan’s marine…
HPL Electric reports robust order book and growth in smart metering segment
HPL Electric & Power Ltd announced that its outstanding order book as of July 30, 2024, stands at over Rs. 37 billion. This substantial order book indicates a strong pipeline, ensuring sustained revenue generation and growth opportunities for the company. The company has bolstered its leadership in the smart metering sector, reporting a 35.67% year-on-year increase in revenue from its Metering, Systems & Services segment. This growth is attributed to a steady flow of orders…
Foxconn plans Battery Energy Storage System unit in India, eyes expansion in EV segment
Taiwanese electronics giant Foxconn is planning to establish a Battery Energy Storage System (BESS) unit in India, according to Chairman Young Liu. With a focus on the electric vehicle (EV) sector, Foxconn is expanding its battery manufacturing business, having already set up its first plant in Taiwan. Liu mentioned that Foxconn’s information and communication technology segment has recently started operations in India. He also revealed discussions with Tamil Nadu’s industry minister regarding collaboration on BESS…
Lightsource bp, Contact Energy secure NZ$267 million financing for 168 MW solar farm in New Zealand
Lightsource bp and its joint venture partner Contact Energy have secured a NZ$267 million (US$160 million) financing package for the development of the Kōwhai Park solar farm, a 168MWdc project in Christchurch, New Zealand. The green financing loan has been jointly underwritten by Westpac, Mizuho, China Construction Bank, and Intesa Sanpaolo. The Kōwhai Park solar farm, featuring approximately 300,000 solar panels, marks the first phase of Christchurch Airport’s renewable energy precinct. Construction is scheduled to…
US DOE allocates over $3 billion for battery manufacturing projects across 14 states
The US Department of Energy (DOE) has allocated more than $3 billion to fund 25 projects aimed at enhancing battery manufacturing capabilities across 14 states. These projects are part of the Biden-Harris Administration’s Investing in America initiative and are designed to increase domestic battery material production, align with EV tax credit rules, and reduce reliance on China. The investment, managed by the Office of Manufacturing and Energy Supply Chains (MESC), will generate over 8,000 construction…