Business & Finance

Carplus Joins Hands with Yes Charging on Deploying 100 Charging Stations to Facilitate Convenience in EV Rentals

The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing – EQ Mag

June 1, 2023 Anand Gupta

DETROIT : Thanks to a boost from the government, leasing — not buying — is becoming the most affordable way to get your hands on an electric vehicle. Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,500 to use toward an EV. Under the rules, a dealer can apply that […]

Kutch heritage, Modhera solar-powered village

Business & Finance

Solar energy firm SOLEK closes $379 mn financing for Chile projects – EQ Mag

June 1, 2023 Anand Gupta

Solar energy group SOLEK has closed a $379 million financing for its portfolio in Chile, consisting of solar photovoltaic and PMGD plants. SOLEK owns a portfolio of approximately 284MWdc in Chile and has more than 400MW of projects in development stage in Latin America. The financing comprises facilities: $178 million senior private placement, $75 million […]

PTC India – Summary of Financial Performance for Q4 FY20 & FY 2019-20

Business & Finance

PTC India signs two long-term agreements for 215 MW power purchase: CMD – EQ Mag

June 1, 2023 Anand Gupta

PTC India has signed two agreements for the purchase of 215 MW electricity on a long-term basis, company’s CMD Rajib K Mishra said New Delhi : Power trading solutions provider PTC India has signed two agreements for the purchase of 215 MW electricity on a long-term basis, company’s CMD Rajib K Mishra said. While an […]

Business & Finance

Climate-tech startup Newtrace raises $5.6 million in funding from Sequoia, others – EQ Mag

June 1, 2023 Anand Gupta

Founded in 2021, Newtrace develops and manufactures innovative electrolysers that aim to reduce the cost of green hydrogen production by over 60 per cent. Climate tech startup Newtrace on Wednesday announced that it has raised $5.65 million in seed funding led by Sequoia Capital India and Aavishkaar Capital. Newtrace’s existing investors Speciale Invest and Micelio […]

Business & Finance

QatarEnergy to sign long-term LNG supply deal with Bangladesh – EQ Mag

June 1, 2023 Anand Gupta

QatarEnergy will sign a long-term liquefied natural gas (LNG) supply deal with Bangladesh’s state-owned gas company Petrobangla on Thursday, the second Asian sales deal to be sealed for Qatar’s North Field expansion project. The 15-year agreement is for the supply of 2 million tonnes annually, Petrobangla’s Chairman Zanendra Nath Sarker told Reuters. Supplies are set […]

Business & Finance

Govt to sell up to 3 per cent in Coal India via OFS – EQ Mag

June 1, 2023 Anand Gupta

In the last quarter, a spike in share price owing to high coal demand helped CIL achieve its production target The Centre has proposed to sell up to 3 per cent of its stake in national miner Coal India (CIL) through the offer for sale (OFS) route from June 1. The government is looking to […]

ONGC cuts carbon intensity by over 12% in 5 years Chairman

Business & Finance

ONGC to invest Rs 1 lakh crore to expand renewable energy capacity – EQ Mag

May 31, 2023 Anand Gupta

India’s ONGC plans to invest Rs 1 lakh crore to scale up its renewable energy capacity to 10 gigawatts (GW) by 2030. ONGC had renewable energy capacity of 189 megawatts in 2022-23. ONGC’s ambitious plan is in line with India’s target to reduce carbon dioxide emissions to net zero by 2070. “The country’s energy demand […]

JSW Energy in agreement with Australian firm for Green Hydrogen

Business & Finance

JSW Group plans to sell minor stake in Neo Energy for $500 M – EQ Mag

May 31, 2023 Anand Gupta

JSW Group is trying to generate up to $500 million by selling a minority position in JSW Neo Energy, a listed JSW Energy subsidiary. One person, who asked to remain anonymous since the conversations are confidential, stated that the steel and energy group had chosen Standard Chartered Bank to serve as the sell-side advisor for […]

Business & Finance

Power Finance Corp to boost loans to renewable projects

May 30, 2023 Anand Gupta

To achieve the target, the company’s disbursements towards renewable energy projects could go up to Rs 3 lakh crore in the next seven years, he said. Power Finance Corp plans to increase its loan book exposure to renewable energy projects, including funding new areas such as green hydrogen and ammonia, to 27 per cent (with […]

Monthly meeting in virtual mode with original equipment manufacturers of wind turbine generators availing concessional customs duty benefits

Business & Finance

Ørsted to acquire Eversource share of uncontracted offshore wind seabed – EQ Mag

May 29, 2023 Anand Gupta

Ørsted to fully own seabed with up to 4 GW of capacity and fully own strategic O&M contracts. Acquisition further strengthens Ørsted’s offshore wind energy position in the US Northeast. Ørsted has signed an agreement to acquire Eversource Energy’s 50 % interest in the uncontracted federal offshore wind lease area currently owned jointly by the […]