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Pertamina NRE acquires 20% stake in CREC for $115 million

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Pertamina New & Renewable Energy (Pertamina NRE), a subsidiary of an Indonesian State-Owned Enterprise, has signed a share subscription agreement with Citicore Renewable Energy Corporation (CREC).  Pertamina NRE will acquire a 20% stake in CREC by subscribing to 2,232,143,036 common shares at PhP 3.00 per share, amounting to approximately $115 million. This partnership gives Pertamina NRE access to CREC’s expertise in engineering, procurement, and construction (EPC) while supporting CREC’s regional expansion and its goal to…

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IREDA sanctions Rs 30 billion for Odisha’s green energy projects

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Shri Pradip Kumar Das, Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Limited (IREDA), delivered a keynote address at the Odisha Solar Investor Conclave hosted by GRIDCO in Bhubaneswar.  The CMD confirmed that IREDA has sanctioned over Rs 30 billion for renewable energy projects in Odisha, covering sectors such as solar, hydro, ethanol, and renewable energy manufacturing.  Odisha aims to achieve 10 GW of renewable energy capacity by 2030, and IREDA’s support…

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Airox Nigen launches 600 MW solar module line in Haryana

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Airox Nigen has established a 600 MW solar module manufacturing line in Rohnat, Haryana, as part of its larger 2 GW renewable energy project.  According to the company, the facility, located in a 17-acre renewable energy park, is positioned to become a significant hub for sustainable energy innovation. The 600 MW facility will serve as the foundation for scaling up to the planned 2 GW capacity.  Equipped with advanced technology, it will produce high-efficiency solar…