Solar91 Cleantech has received approval from the Bombay Stock Exchange to proceed with its small medium enterprise (SME) initial public offering (IPO).
The IPO will involve the issuance of up to 5.43 million equity shares, targeting a fundraising of Rs 1 billion.
The proceeds will be used to support Solar91 Cleantech’s transition into an independent power producer and to expand its turnkey engineering, procurement, and construction services for renewable energy projects across India.
Hero Group’s power unit, Hero Future Energies, plans to invest USD 20 billion over the next six years to expand its capacity nearly 16-fold. The investment will focus on wind, solar, and battery storage technologies, funded through a mix of internal resources, debt, and equity. With 3.4 GW of capacity under construction, set to be completed within two years, Hero Future Energies aims to increase its current 1.9 GW capacity to 30 GW by 2030….
Romania, Hungary, Georgia, and Azerbaijan have officially launched the Black Sea power line project aimed at enhancing the European Union’s renewable energy capacity. The project, developed in response to the EU’s need for energy diversification following Russia’s invasion of Ukraine, is expected to strengthen the region’s energy security. The initiative involves constructing an undersea cable that will connect wind farms in Azerbaijan’s Caspian Sea to Romania and Hungary via Georgia, supplying renewable energy to the…
Dominion Energy has completed the sale of a 50% non-controlling interest in its Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak, an alternative investment firm. This transaction, first announced in February 2024, has provided Dominion Energy with $2.6 billion in proceeds, approximately half of the capital investment made in the project so far. Stonepeak will also finance half of the remaining project costs, following pre-disclosed conditions. Dominion Energy retains full operational control over the…
The construction of a 60 MW solar power plant in Khargone, Madhya Pradesh, is expected to be completed by the end of this year, according to an official from the Indore Municipal Corporation (IMC). The project, estimated to cost Rs 3.08 billion, is being built on 220 acres in Jalud village. Of the total project cost, Rs 2.44 billion was raised by IMC through green bonds issued to the public in February last year. The…
Rinnai Australia Pty Ltd, hot water, heating, and cooling solutions company, acquired Smart Energy Group Pty Ltd, a renewable energy retailer specializing in solar PV systems and battery storage. This acquisition enhances both companies’ capabilities in the renewable energy sector. Rinnai aims to meet evolving customer needs and contribute to Australia’s renewable energy goals by integrating Smart Energy’s expertise in renewable energy, customer service, and high-quality solar PV systems with battery storage. With over 50…
Transformers and Rectifiers (India) has won a Rs 5.65 billion contract from Power Grid Corporation of India (PGCIL) for the manufacturing of transformers and reactors ranging from 80 MVAr to 500 MVA and 420 kV to 765 kV Class. Delivery is scheduled by the financial year 2025-2026.