Business & Finance

REC plans to increase loan book by two-fold to Rs 10 lakh crore by 2030 – EQ Mag

May 19, 2023 Anand Gupta

State-owned non-banking finance firm REC Ltd is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs three lakh crore for renewable energy projects. This assumes significance given India’s ambitious target of having 500GW of renewable energy capacity by 2030. REC Ltd’s loan book is Rs 4.35 lakh […]

Business & Finance

Vedanta Resources Ltd taps global banks for $500-600 million loan – EQ Mag

May 19, 2023 Anand Gupta

Company in talks with Deutsche Bank, JP Morgan et al. for raising the loan amount. According to news reports, Vedanta Resources Ltd. (VRL) is in talks with Deutsche Bank and other international lenders, such as JPMorgan and Barclays, to borrow $500-600 million in financing to service debt obligations that will come up for maturity later […]

NHPC pays Rs 933.61 crore interim dividend to govt for 2021-22

Business & Finance

NHPC bags 200MW project worth Rs 1,007.6 cr from Urja Vikas Nigam – EQ Mag

May 18, 2023 Anand Gupta

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State-run hydro power giant NHPC on Wednesday said that it has received a letter of intent to build a 200 MW solar power project worth Rs 1007.60 crore from Gujarat Urja Vikas Nigam “Gujarat Urja Vikas Nigam Ltd (GUVNL) had issued a Letter of Intent dated 16.05.2023 to NHPC Limited for 200 MW capacity Solar […]

Adani New Industries Sets Up India’s Tallest Wind Turbine In Gujarat

Business & Finance

Vibrant Energy partners with Envision for 149 MW wind turbine order – EQ Mag

May 18, 2023 Anand Gupta

Vibrant Energy, a provider of renewable energy solutions, announced on Monday that it had placed a 149-megawatt (MW) order with Envision Energy. The order consists of 45 wind turbines, each with a capacity of 3.3 MW. According to the official press release, the delivery is expected to commence from the third quarter of the financial […]

Business & Finance

QatarEnergy awards $10 bn gas contract to Technip Energies, CCC – EQ Mag

May 18, 2023 Anand Gupta

The North Field South (NFS) project “is around $10 billion, and its scope covers the construction of two mega” liquefied natural gas trains State-owned QatarEnergy on Tuesday said it awarded a contract worth around $10 billion to a joint venture of France’s Technip Energies and Consolidated Contractors Company (CCC) for a landmark natural gas field. […]

Business & Finance

Hyundai ties up with Shell to install fast chargers at 36 dealerships – EQ Mag

May 18, 2023 Anand Gupta

Under this latest association, Shell will be installing fast chargers across the carmaker’s EV dealerships Hyundai and Shell signed Memorandum of Association (MoA) for installation of fast chargers. Shell will install 60kW DC fast chargers at 36 Hyundai EV dealerships. If feasible, Shell will even be installing 120kW DC fast chargers. Hyundai currently has 72 […]

Business & Finance

Jupiter Wagons raises Rs 125 cr via qualified institutional placement route – EQ Mag

May 18, 2023 Anand Gupta

The funds will be utilized to accelerate its wagon manufacturing capacity, JWL said in a statement on Tuesday Jupiter Wagons Ltd (JWL) has raised Rs 125 crore through qualified institutional placement (QIP) route. The funds will be utilized to accelerate its wagon manufacturing capacity, JWL said in a statement on Tuesday. “JWL…has successfully concluded the […]

Business & Finance

HPCL to set up Rs 500 cr ethanol plant in Una – EQ Mag

May 18, 2023 Anand Gupta

Chief Minister Sukhvinder Singh Sukhu announced that Hindustan Petroleum Corporation Limited (HPCL) has committed to setting up a state-of-the-art ethanol plant in Jeetpur Baheri, Una district. With an estimated cost of Rs 500 crore, this project aims to bolster the production of ethanol in the region and create numerous employment opportunities for local communities. Meeting […]

Tender for Upgradation of 2.5 KW OFF Grid solar to 5 KW ON grid solar at BPCL Bangalore LPG Plant

Business & Finance

BPCL to invest Rs 52, 731 crore in expanding capacities – EQ Mag

May 18, 2023 Anand Gupta

The ethylene cracker project at Bina Refinery, which includes downstream petrochemical plants and refinery expansion, has been authorised by the board of the state-owned Bharat Petroleum Corporation Ltd (BPCL), according to the firm. The Ethylene Cracker Project, which will power the manufacturing of necessary petrochemicals, is the mainstay of the expansion initiatives. The project includes […]

US president Joe Biden sets an ambitious plan for Solar Energy

Business & Finance

Biden administration announces $11bn for rural clean energy projects – EQ Mag

May 17, 2023 Anand Gupta

WASHINGTON : Rural electric cooperatives, utilities, and other energy providers will soon be able to apply for nearly $11 billion in grants and loans for clean energy projects, funded by the $430 billion Inflation Reduction Act signed into law last August, the Biden administration said on Tuesday. Expanding clean energy to rural communities is critical […]