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EaseMyTrip ventures into electric bus manufacturing with new subsidiary
Leading online travel platform EaseMyTrip.com is entering the electric vehicle (EV) market through its new subsidiary, Easy Green Mobility, focusing on electric bus manufacturing. This move comes as the Indian electric bus market is projected to grow at a 24% CAGR from 2024 to 2030. Easy Green Mobility will develop advanced electric buses equipped with cutting-edge technology and long-range battery systems. Another EaseMyTrip subsidiary, YoloBus, will handle the operational side of these buses. The company…
Karnataka rooftop solar capacity crosses 600 MW
Karnataka has seen a notable increase in rooftop solar installations over the last two years. According to data from Karnataka Renewable Energy Development Limited (KREDL), 172.14 MW of rooftop solar projects were installed between March 2023 and July 2024, pushing the state’s total capacity past 600 MW. From April to July 2024, more than 50 MW was installed. In 2023-24, 121.82 MW of capacity was added, nearly double the 79.57 MW installed in 2022-23, marking…
BMW announces plans to produce its first hydrogen car by 2028
German luxury automaker BMW has revealed plans to produce its first hydrogen-powered car by 2028. BMW is partnering with Toyota to create a new generation of fuel-cell powertrains, continuing a collaboration that previously resulted in the current-generation Toyota Supra. The partnership aims to overcome the challenges that have hindered the adoption of hydrogen technology, including high costs and limited infrastructure. BMW’s announcement comes with few specifics about the vehicle, but it is expected to be…
EDP Renewables and Microsoft extend partnership for Singapore’s largest solar project
EDP Renewables (EDPR) announced its renewed partnership with Microsoft on Singapore’s largest solar energy project, SolarNova. Under the agreement, Microsoft will purchase 100% of the renewable energy generated by EDPR’s SolarNova 8 project, which has a capacity of up to 200MW-peak (MWp). Awarded in February, the SolarNova 8 project will see EDPR install solar panels on more than 1,000 public housing buildings and over 100 government-owned properties. The energy produced will power common services during…
Indian auto sector records $1.9 billion in deals in Q3 2024, highest since 2021
The Indian auto sector saw 32 deals worth $1.9 billion in the July-September 2024 period, marking its highest quarterly activity since Q4 2021, according to a report by Grant Thornton Bharat. This surge highlights the sector’s resilience and investor appeal, driven by three high-value deals worth $300 million. Mergers and acquisitions (M&A) activity included six deals valued at $74 million, reflecting a 20% increase in volumes and 30% growth in value from Q2. Strategic investments…
Gevo secures DOE loan for Net-Zero aviation fuel plant in South Dakota
Gevo has obtained a conditional $1.46 billion loan guarantee from the US Department of Energy’s (DOE) Loan Programs Office for its Net-Zero 1 (NZ1) project in Lake Preston, South Dakota. Including capitalised interest, the loan facility provides a borrowing capacity of $1.63 billion. The NZ1 plant will use 100% US-sourced feedstocks to produce approximately 60 million gallons of sustainable aviation fuel (SAF), 1.3 billion pounds of protein and animal feed, and 30 million pounds of…