|

Refex Green Mobility acquires 2,997 electric four-wheelers

By

Refex Green Mobility Limited has acquired 2,997 electric four-wheelers (e4Ws) from Gensol Engineering Limited for Rs 3.15 billion. The acquisition includes the transfer of Gensol’s existing loan facility. The e4Ws will be deployed in key markets such as Chennai, Bengaluru, Hyderabad, Mumbai, and Pune, where Refex Green Mobility operates.  The company also plans to lease the vehicles to Blu-Smart Mobility Limited to support operations in Delhi NCR and Bengaluru.

|

Lubi Industries to supply 1,400 fast DC EV chargers for BPCL outlets

By

Lubi Industries has secured a contract from Bharat Petroleum Corporation Limited (BPCL) to manufacture, supply, install, and commission 1,400 fast DC electric vehicle (EV) chargers across India. These chargers, with a 60 kW capacity, will be installed at BPCL retail outlets to provide reliable and efficient charging solutions for EV users. This project represents a significant portion of the annual DC charger installations in India and supports the country’s expanding EV infrastructure.  The chargers will…

|

Exide Industries invests Rs 1499.90 million in lithium battery subsidiary EESL

By

Exide Industries Limited has invested Rs 1499.90 million in its subsidiary, Exide Energy Solutions Limited (EESL), through a rights-based equity subscription.  This brings Exide’s total investment in EESL to Rs 33,022.3 million, including prior investments in the now-merged Exide Energy Private Limited. EESL issued 41,663,892 equity shares with a face value of Rs 10 each, at a premium of Rs 26 per share, aggregating to Rs 1,499.90 million. Despite this investment, Exide’s shareholding percentage in…

|

Oben Electric raises $5.82 million in Series A funding

By

Oben Electric has secured $5.82 million in its Series A funding round, with contributions from Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical’s US-based venture capital entity, and several family offices.  The funds will be used to expand its distribution network and Oben Care services to over 100 showrooms across 50 cities in India by FY 2026, as well as to enhance its product portfolio.  The Bengaluru-based electric bike startup currently sells its motorcycle…

|

Union minister reviews Lakshadweep’s power sector

By

Union Minister of Power and Housing & Urban Affairs Shri Manohar Lal reviewed the power sector scenario for the Union Territory (UT) of Lakshadweep in Kavaratti.  Shri Praful Patel, Administrator of Lakshadweep, along with senior officials from the UT administration, Government of India (GoI), and Power Finance Corporation (PFC), attended the meeting. Key issues discussed included the status of power generation, the performance of the electricity department, demand-supply challenges, and the implementation of the PM…

|

Pilbara Minerals and POSCO open Korea’s first lithium hydroxide plant

By

Australian mining company Pilbara Minerals and its joint venture (JV) partner POSCO Holdings have announced the completion of Train 2 at their Lithium Hydroxide Monohydrate Chemical Facility in Gwangyang, South Korea.  The facility is Korea’s first lithium hydroxide plant, with an annual production capacity of up to 43,000 tons of battery-grade lithium hydroxide—sufficient to power batteries for approximately one million electric vehicles. The JV, POSCO Pilbara Lithium Solution (PPLS), established in 2021, is majority-owned by…

|

MoP proposes amendments to EV charging infrastructure guidelines

By

The Ministry of Power (MoP) has released a draft amendment to the Guidelines for Installation and Operation of Electric Vehicle Charging Infrastructure-2024.  The draft outlines the framework for establishing EV charging infrastructure, including networks of charging stations equipped to meet diverse EV charging needs. The proposed guidelines define EV charging infrastructure as comprising various components such as connections to discom supply systems, power management systems for energy optimization, tools for grid stability and renewable energy…

Power Sector News Roundup for November 4, 2024

By

Global: IEA report forecasts US$2 trillion clean energy market growth, challenging oil industry dominance. Germany to bury nuclear waste, but toxic dispute remains unresolved. UK Government confirms rise in oil and gas headline tax alongside investment in clean energy. Asia to spend over USD 20 billion on EVs, according to a report. Moroccan government partners with Total Energies H2 for the ‘Chbika’ green hydrogen project. Blykalla and ABB partner to develop an SMR pilot facility…

|

Top EU economies spend 42 billion euros annually on fossil-fuel company car subsidies, study finds

By

The EU‘s five largest economies—Italy, Germany, France, Poland, and the United Kingdom—spend a combined 42 billion euros (USD 45.6 billion) annually subsidizing fossil-fuel company cars, according to a study by consultancy Environmental Resources Management (ERM), commissioned by environmental group Transport & Environment (T&E). The report urges the EU to redirect these subsidies towards electric vehicles (EVs) instead. Italy leads with 16 billion euros in subsidies, followed by Germany with 13.7 billion euros. France and Poland…

|

India’s renewable energy capacity to grow at double the rate of overall energy capacity by 2030: CRISIL

By

According to a report by CRISIL, India’s renewable energy (RE) capacity, excluding large hydro projects, is expected to grow at a compound annual growth rate (CAGR) of 16.5%-17%, reaching 360-370 GW by fiscal 2030.  This growth rate is double that of the country’s overall power capacity, which is projected to grow by 7.5%-8%, increasing from 442 GW in March 2024. India’s renewable energy capacity, including large hydro projects, stood at nearly 191 GW as of…