Author: PPD Team Date: 05/11/2024
Suzlon Group reported a net profit of Rs 2 billion for the quarter ending September 2024, marking a 96% increase from Rs 1.02 billion in the same period last year.
Total income rose by approximately 48% to Rs 21.21 billion, up from Rs 14.29 billion in the corresponding quarter of the previous year.
Author: PPD Team Date: 16/10/2024 The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%. EIB will provide a €500 million counter-guarantee, enabling Intesa Sanpaolo to establish €1 billion in guarantees for wind…
Author: PPD Team Date: 13/12/2024 Mumbai-based rooftop solar company SolarSquare has raised $40 million in a Series B funding round led by Lightspeed, with Lightrock also participating. Existing investors, including Elevation Capital, Lowercarbon, Rainmatter, and Gruhas Proptech, contributed as well. The funds will support SolarSquare’s expansion to over 50 cities from its current presence in 20. Additional investments will focus on technology, talent acquisition, brand building, and developing an asset management technology stack for remote…
Author: PPD Team Date: 30/10/2024 GE Vernova has secured a contract to supply its 9HA.01 gas turbine for a new 600 MW hydrogen-capable power plant at the Pulau Seraya power station on Jurong Island, Singapore. The project, led by YTL PowerSeraya Group, is set to begin operations by 2027. Initially running on natural gas, the plant will be able to blend up to 50% hydrogen, with a future goal of transitioning to 100% hydrogen fuel…
Author: PPD Team Date: 28/02/2025 Madhya Pradesh has secured further investments in renewable energy (RE) through new Memorandums of Understanding (MoUs) signed at the Global Investors Summit 2025. At the summit, five companies formalized their investment plans: KP Group committed to a 1,800 MW RE project, including solar, wind, wind-solar hybrid, biomass, and battery energy storage system (BESS) projects. Four Square Green Energy Private Limited signed an MoU worth Rs 50.05 billion for solar, wind,…
Author: PPD Team Date: 05/02/2025 Lords Mark Industries Private Limited has won a contract from the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) to set up 300 MW of grid-connected rooftop solar power plants under the Renewable Energy Service Company (RESCO) model. The firm secured the contract at a tariff of Rs 4.8 per kWh. The contract is part of a larger initiative initiated by UPNEDA in July 2024, initially calling for 3,205…
Author: PPD Team Date: 21/11/2024 Synera Renewable Energy (SRE) has received an establishment permit from Taiwan’s Energy Administration for its 495MW Formosa 4 Offshore Wind Project, marking a key milestone in Taiwan’s Phase 3 Zonal Development of Offshore Wind. Located off Miaoli County, Formosa 4 is the first project in this auction round to secure a local government letter of consent, a vital step toward the final establishment permit. Once operational, Formosa 4 will power…