Shimato Enterprises Private Limited signed a term sheet agreement with Constronics Infra Limited for the development of a 21 MW solar power project in Virudhunagar, Tamil Nadu on November 29, 2024.
As per the agreement, Shimato Enterprises along with its subsidiaries and associates will acquire land, design, supply and install the solar power project along with comprehensive Operation and Maintenance (O&M) on turnkey basis.
SustVest has secured $1.7 million in equity and debt during its Pre-Series A funding round. The round was led by Inflection Point Ventures and Antler, with participation from WEH Ventures, Venture Catalysts, Soonicorn Ventures, FAAD Network, and others. The funds will be used to acquire solar projects, scale marketing for its regulated platform, improve operations, and manage legal expenses. SustVest, a regulated platform for sustainable investments, offers fixed-income investment opportunities in renewable energy and provides…
Waaree Technologies has secured an order to supply 99 solar off-grid combos to a trading customer. The order, placed on January 15, 2025, requires delivery within three months. The solar off-grid combo includes batteries, solar panels, inverters, and other essential components. The off-grid combo is designed for efficient energy storage and utilization, supporting businesses in achieving energy independence.
IndiGrid, British International Investment (BII), and the Norwegian Climate Investment Fund managed by Norfund have established EnerGrid, a $300 million platform focused on greenfield transmission and standalone battery energy storage system (BESS) projects in India. Each partner will invest $100 million, with EnerGrid aiming to develop projects valued at approximately $1.2 billion over the next several years. Once operational, IndiGrid will acquire these projects at a pre-agreed enterprise value. IndiGrid’s Q2 FY25 investor presentation highlighted…
Lhyfe and Masdar have signed a Memorandum of Understanding (MoU) to explore the co-development of large-scale green hydrogen production projects in Europe. This partnership will identify collaboration and investment opportunities across the green hydrogen value chain, combining the strengths of both companies to drive innovation and growth in the sector. In October 2024, Lhyfe also signed an MoU with KEYOU to advance hydrogen mobility in Germany and Europe. Lhyfe is constructing a production plant in…
Purvah Green Power Private Limited, a subsidiary of CESC Limited, received a Letter of Award (LoA) from Noida Power Company Limited (NPCL) on December 30, 2024. The project involves developing 300 MW Inter-State Transmission System (ISTS)-connected wind-solar hybrid power projects across India to supply power to NPCL. In November 2024, NPCL invited bids for power procurement under the Tariff-Based Competitive Bidding (TBCB) mode.
The Ministry of New and Renewable Energy (MNRE) has proposed adding solar photovoltaic (PV) cells to its Approved List of Models and Manufacturers (ALMM), with implementation expected by April 2026. This new category, termed “ALMM List-II,” would mandate that all ALMM-compliant solar projects source cells from certified domestic manufacturers. Experts caution that this move could increase tariffs by 40-50 paise per unit, affecting project costs, timelines, and India’s renewable energy targets. Industry leaders, including AMPIN…