Solex Energy Limited reported robust financial performance in H1 FY2024-25, with total income surging 194% to Rs 2.731 billion, up from Rs 930 million in H1 FY24.
EBITDA increased 168% to Rs 253.7 million, and net worth expanded 244% to Rs 1.317 billion, while Return on Equity (ROE) improved to 29.41%, compared to 3.84% in the previous year.
Ashoka Buildcon has been declared the lowest bidder (L1) for a transmission project by M P Poorv Kshetra Vidyut Vitran. The project involves the installation, testing, and commissioning of new 11 kV lines, LT lines on AB cable, DTR substation, and related works to separate 11 kV mix feeders and mix DTRs under the RDSS scheme in the Chhindwara circle. The financial bid, valued at Rs 1.93 billion, was opened on 24 September 2024. This…
Avista has signed a nonbinding memorandum of understanding to take a 10% ownership stake in the North Plains Connector, a 3 GW high-voltage direct current (HVDC) transmission line by Grid United’s subsidiary. This 420-mile line will connect the US eastern and western electric grids between Montana and North Dakota, enabling bi-directional power transport from various generation sources. The North Plains Connector, linking the Midcontinent Independent System Operator, Western Interconnection, and Southwest Power Pool, will enhance…
Exicom, an EV charging solutions provider, has acquired Tritium, a global leader in direct current (DC) fast charging technology, for USD 37 million. As part of the acquisition, Exicom will establish a manufacturing facility in Hyderabad by the end of 2025 to produce advanced EV charging solutions using Tritium’s technology. The acquisition includes absorbing Tritium’s entire workforce of 300 employees, allowing Exicom to enhance its operational capabilities across multiple geographies. Tritium’s expertise in designing and…
Avaada Group has launched a 70 MW solar power project in Banda, Uttar Pradesh, investing Rs 4.08 billion. The project is expected to generate approximately 160 million units of renewable energy annually. Additionally, Avaada is developing two pumped storage projects with a combined capacity of 2,190 MW in the Sonbhadra and Mirzapur districts. The group also plans to develop 1,000 MW of solar power projects in Jalaun, Chitrakoot, and Lalitpur districts, with a total investment…
Avaada Group has proposed an investment of Rs 50 billion in Madhya Pradesh during a meeting with Chief Minister Mohan Yadav on September 16, 2024. This announcement was made during the Renewable Energy Investors Meet in Gandhinagar. Sembcorp Group expressed interest in the Morena and Neemuch solar projects, while Borosil Group plans to set up a solar panel glass production unit. The Wind Power Association requested the development of wind parks, and Torrent Power called…
Tamil Nadu has secured a Rs 4 billion investment from US-based Ohmium International, Inc., to establish a green hydrogen manufacturing facility in Chengalpattu district. This announcement was made by Chief Minister M K Stalin during his visit to the United States. Ohmium International specializes in designing and manufacturing modular, scalable Proton Exchange Membrane (PEM) electrolyzers, which are essential for cost-competitive green hydrogen production. The company’s electro-chemical products support sustainable energy goals across various industrial, transportation,…
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