Business & Finance

FAME scheme rejig boosts funds for e-Bus, e-Bike segments – EQ Mag

May 22, 2023 Anand Gupta

Government has approved Phase-II of FAME Scheme with an outlay of Rs. 10,000 Crore for a period of 3 years commencing from 1st April 2019. Out of total budgetary support, about 86 percent of fund has been allocated for Demand Incentive so as to create demand for xEVs in the country. This phase aims to […]

RERC (Terms and Conditions for Determination of Tariff) (First Amendment) Regulations, 2019

Business & Finance

Discoms’ dues down by a third to Rs 93,000 crore in less than a year of enforcing Late Payment Surcharge Rule – EQ Mag

May 22, 2023 Anand Gupta

Experts believe the strict implementation of the Late Payment Surcharge (LPS) Rules can make the power sector more viable. The total outstanding dues of electricity distribution utilities (discoms) has reduced by a third to around Rs 93,000 crore in May, less than a year after implementing the Late Payment Surcharge (LPS) Rules in June 2022. […]

Business & Finance

Gogoro Set for Q4 Philippine Launch, Expanding to Seventh Overseas Market – EQ Mag

May 22, 2023 Anand Gupta

Gogoro, in partnership with local Philippine companies Ayala and Globe Group, is announcing its entry into the Philippine market. Sales are expected to commence in the Metro Manila area during the fourth quarter of this year. Their collaboration marks the first introduction of Gogoro’s battery-swapping transportation solution in the Philippines, setting a precedent for sustainable […]

Business & Finance

Masdar signs agreement to develop over 2 gw of clean energy in Uzbekistan – EQ Mag

May 20, 2023 Anand Gupta

“The world needs to triple global renewable energy capacity by 2030 to reach the goals set out in the Paris Agreement. As we prepare to host COP28 in the UAE, we believe ambitious partnerships with countries like Uzbekistan are vital in helping to meet this target.” The agreement was jointly signed in Uzbekistan by Azim […]

Engie confident short-term delay won’t affect its 2030 green hydrogen target

Business & Finance

$50 million Investment for a Green Hydrogen Project in Gujarat – EQ Mag

May 20, 2023 Anand Gupta

Greenzo Energy India will invest $50 million to manufacture 250 MW of anion exchange membrane (AEM) electrolyzers per year and the balance of plant (BOP) in the Sanand-II Industrial Estate, a part of Gujarat Industrial Development Corporation (GIDC). The initial investment will be towards market research, business development, lab equipment,and technology evaluation. The company has […]

Business & Finance

Pakistan to pay USD 18 billion in penalty if it doesn’t go ahead with Iran-Pakistan Gas Pipeline project – EQ Mag

May 20, 2023 Anand Gupta

Concerns were raised by Pakistan’s Public Accounts Committee (PAC) on Wednesday over the payment of $18 billion in penalty if the country does not go ahead with the Iran-Pakistan Gas Pipeline project. As quoted, PAC Chairman Noor Alam Khan said, “The US should pay the penalty if it does not approve of Pakistan and Iran […]

Siemens Energy wind division set to be delisted in February

Business & Finance

Siemens to acquire Mass-Tech Controls’ EV division for Rs 38 crore – EQ Mag

May 20, 2023 Anand Gupta

Siemens will acquire the Mumbai-based company for ₹38 crore Siemens Limited has announced that it will acquire the electric vehicle division of Mumbai-based Mass-Tech Controls Private Limited. The division is engaged in design, engineering and manufacturing of a wide range of AC chargers and 30-300kW capacity DC chargers for EVs. The purchase consideration is ₹38 […]

Kutch heritage, Modhera solar-powered village

Business & Finance

MCD solar panel project to cover parking sites, recreational spaces – EQ Mag

May 20, 2023 Anand Gupta

MCD signs MoU with SECI to install solar plants over suitable buildings in Delhi The projects covering parking lots, charging stations, etc, will be completed under RESCO mode Municipal Corporation of Delhi (MCD) has signed a Memorandum of Understanding with Solar Energy Corporation of India (SECI) and NTPC to install 10-15 MW of solar rooftop […]

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

Business & Finance

Gail to borrow up to Rs 7,000 cr domestically to fund Rs 10,000 cr capex plan in FY24 – EQ Mag

May 20, 2023 Anand Gupta

The company is also contemplating entering into the ethane cracker, but the plans are still on the drawing board Gail India plans to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal, a top company official said on Friday. The state-owned company’s chairman and […]

Business & Finance

NTPC Green Energy Ltd. (NGEL) and HPCL Mittal Energy Ltd. (HMEL) sign MoU; HMEL to source 250 MW Renewable Energy from NGEL – EQ Mag

May 20, 2023 Anand Gupta

NGEL and HMEL to explore opportunities in generation of Green Hydrogen and Green Chemicals In order to realize green energy and green hydrogen objectives and the GOI’s efforts towards energy transition, NTPC Green Energy Limited (NGEL) and HPCL Mittal Energy Limited (HMEL) signed a Memorandum of Understanding (MoU) in New Delhi today. The MoU was […]