Business & Finance

Westbridge Renewable Energy Corp–Westbridge Renewable Reaches D

Westbridge Inks Pact With MYTILINEOS to Monetize 1.4 GW Solar Portfolio – EQ Mag

June 3, 2023 Anand Gupta

TORONTO : Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) (“Westbridge”, “Westbridge Renewable” or the “Company”) is pleased to announce that it has entered into definitive agreements entered into on June 1st 2023 in connection with the purchase by Metka-EGN Ltd. (“Metka”) (a subsidiary of MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, […]

Business & Finance

EIB and Sicredi sign €200M loan to foster use of renewable energy in Brazil – EQ Mag

June 3, 2023 Anand Gupta

The European Investment Bank (EIB), the world’s largest multilateral public bank, and Sicredi, a cooperative financial institution operating in all regions of Brazil, signed an agreement aimed at fostering the use of renewable energy in Brazil. Ricardo Mourinho Félix, Vice-President of the EIB and César Bochi, CEO of Banco Cooperativo Sicredi, signed a €200 million […]

Business & Finance

Tata Group signs $1.6 bln electric vehicle battery plant deal – EQ Mag

June 3, 2023 Anand Gupta

Initial capacity of Sanand factory could be 20 GWh The Tata group signed an outline deal with the Gujarat government on Friday on building a lithium-ion cell factory with an investment of about Rs 13,000 crore ($1.6 billion). The move comes as India is looking to create its own electric vehicle (EV) supply chain. According […]

GAIL will invest to build 1GW renewable energy, expand the business beyond natural gas

Business & Finance

GAIL infuses Rs 2,100 cr in JBF Petrochemicals – EQ Mag

June 3, 2023 Anand Gupta

India’s largest natural gas company GAIL has injected Rs 2,100 crore into privately insolvent chemical company JBF Petrochemicals Ltd, which it acquired in bankruptcy proceedings. The company received bankruptcy court approval to take over JBF in March. In a filing to the stock exchange, GAIL (India) Ltd said it had “injected Rs 2,101 crore (equity […]

Toyota, Honda oppose U.S. House electric vehicle tax plan

Business & Finance

Toyota pledges USD 2.1 bln more for EV battery plant in North Carolina – EQ Mag

June 2, 2023 Anand Gupta

Toyota Motor Corp 7203.T said on Wednesday it will invest $2.1 billion more in its new U.S. battery plant in North Carolina, as the Japanese automaker deepens efforts to tap rising demand for electric vehicles. The automaker also said its first U.S.-made battery electric sports utility vehicles (SUVs) will be assembled at the company’s Kentucky […]

Business & Finance

Kinetic Green plans to raise $100 million by selling 10-15% stake – EQ Mag

June 2, 2023 Anand Gupta

Chennai : Pune-based Kinetic is all set to raise around $100-$150 million for its electric vehicle business. According to sources in the automobile industry, the company is in talks with top private equity players for the fund raise. The money raised will be spent on both new products as well as capacity expansion for electric […]

Business & Finance

Modi, Prachanda announce 10-year power trade deal between India & Nepal, sign 7 agreements – EQ Mag

June 2, 2023 Anand Gupta

Export of hydropower to Bangladesh through India will commence soon, says Nepal PM. Prachanda also called for resolving the border dispute through diplomatic channels. New Delhi : Prime Minister Narendra Modi and his Nepal counterpart Pushpa Kamal Dahal ‘Prachanda’ announced the completion of a long-term power trade deal, as well as the signing of seven […]

India’s Gautam Adani Asia’s richest man in the eye of a storm

Business & Finance

Adani to raise $3.5 bn from share sale in three group cos – EQ Mag

June 2, 2023 Anand Gupta

While Adani Enterprises and Adani Transmission already said they will together raise up to $2.5 bn, a report said the board of Adani Green Energy is likely to meet to approve fundraising of up to $1 billion in the next couple of weeks Billionaire Gautam Adani’s Adani Group is looking to raise about $3.5 billion […]

Business & Finance

Ohmium, NTPC to partner on largest-ever deal for green hydrogen electrolysers in India – EQ Mag

June 2, 2023 Anand Gupta

Ohmium’s advanced green hydrogen technology will be used by India’s largest power company to decarbonize energy, transport and ammonia projects. FREMONT AND BANGALORE : Ohmium International (“Ohmium”), a leading green hydrogen company that designs, manufactures, and deploys advanced Proton Exchange Membrane (PEM)electrolyzers, today announced that its India-based subsidiary has been selected as the PEM electrolyzer […]

CleanMax raises $360 million from Brookfield – EQ Mag

June 2, 2023 Anand Gupta

Canadian investor Brookfield said on Thursday it had acquired a controlling stake in Indian solar-panel maker CleanMax Enviro Energy Solutions for $360 million MUMBAI : Canadian investor Brookfield said on Thursday it had acquired a controlling stake in Indian solar-panel maker CleanMax Enviro Energy Solutions for $360 million. Brookfield did not specify the size of […]