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A Green New Deal

According to reports, for decades, mature economies have seen their jobs being off-shored to newly industrialising countries. To stop the bleeding, they are working hard to unleash the digital and renewable energy revolutions. The aggressive push to regain competitiveness by digital automation has been widely noted. What is less understood is the logic behind the energy transformation. In manufacturing economies, the cost of energy has long surpassed the cost of labour. Decoupling productivity from the use of energy and resources ... Read More »

Wind back in Suzlon sails with ₹116-crore profit in Q2

According to reports, there seems to be some wind in Suzlon Energy’s sails as the standalone entity has posted a net profit of ₹116.47 crore during the second quarter ended September 30, compared with a loss of ₹528.38 crore in the same period last year. Income for the Pune-based company grew 54 per cent to ₹1,160 crore from ₹754 crore. “We have efficiently capitalised on the opportunities in India. The response to our new products S111-90m and S97-120m, the tallest ... Read More »

Punjab to be bio-refinery leader in next two years

According to reports, on the last day of the two-day second Progressive Punjab investors’ summit, the state government on Thursday signed a memorandum of understanding (MoU) with the consortium of Beta Renewables, Novozymes and CVC India Infrastructure for building a Rs 950-crore bio-ethanol refinery in two years, which will make the state leader in the bio-refinery sector.  This will help solve the problem of paddy-straw burning that is injurious to soil fertility and the environment. Punjab renewable energy ministry Punjab ... Read More »

ReGen Powertech bags two wind power projects worth Rs 1,600 cr

According to reports, ReGen Powertech Pvt Ltd has bagged wind power projects worth Rs 1,600 crore from Hero Future Energies and Green Infra. The company signed a contract with Hero Future Energies recently for a 150 MW project in Andhra Pradesh and a 60 MW project in Madhya Pradesh for Sembcorp Green Infra Ltd. Both are repeat orders from these companies, he added. With projects under execution in various states, ReGen is set to commission 400 MW wind power projects ... Read More »

ADB, India Sign $200 Million Loan to Support Renewable Energy Projects

According to reports, the Asian Development Bank (ADB) and the Government of India have signed a $200 million loan agreement to support lending by Indian Renewable Energy Development Agency (IREDA) to eligible renewable energy subprojects in India. The loan is the first tranche of a $500 million multitranche financing facility (MFF) to IREDA for the Clean Energy Finance Investment Program. The Program aims to leverage public sector resources to catalyze private sector investments in renewable energy subprojects including wind, biomass, ... Read More »

Tesla may set up battery unit in India: Elon Musk

According to reports, Tesla founder Elon Musk has said the company might set up a Gigafactory in India to make lithium ion batteries. “Given the high local demand, a Gigafactory in India would probably make sense in the long term,” Musk tweeted. The plan, if it materialises, will give a boost to Prime Minister Narendra Modi’s push to get Tesla to share battery technology for powering homes in rural India. During his visit to the Tesla campus in Silicon Valley ... Read More »

ADIA leads $265-m funding in ReNew Power

According to reports, Sumant Sinha-promoted ReNew Power Ventures Pvt Ltd has raised $265 million of fresh equity funding from investors. The latest round of fund raising was led by Abu Dhabi Investment Authority (ADIA). ADIA has invested $200 million to join the list of ReNew Power’s investors. Existing investors Goldman Sachs and Global Environment Fund have invested $50 million and $15 million, respectively, in the current round of funding. After the latest round of funding, the company has raised a ... Read More »

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