Business & Finance

MRF To Buy 19% Stake In First Energy For Solar Power Purchase – EQ Mag

May 17, 2023 Anand Gupta

MRF said that the purpose of the deal is to purchase solar power as the company is in the process of developing a ground-mounted, grid solar electric generating facility at Ottapidaram, Tuticorin, Tamil Nadu. Tyre maker MRF Limited today (May 16) informed the BSE that it was entering into a purchase agreement with First Energy […]

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

Business & Finance

Bina refinery set for major overhaul with Rs 49,000 cr investment from Bharat Petroleum – EQ Mag

May 17, 2023 Anand Gupta

The core component of the expansion projects is the ethylene cracker project Bharat Petroleum Corporation (BPCL) has announced its ambitious expansion plans worth Rs 49,000 crore, further increasing the company’s footprints in petrochemical segment and renewable energy, together with augmenting marketing infrastructure. The core component of the expansion projects is the ethylene cracker project, which […]

Business & Finance

Vietnam’s PM approves $135 billion power plan for 2030 – EQ MAG

May 17, 2023 Anand Gupta

HANOI : Vietnam’s prime minister approved a long-awaited power plan for this decade that needs $134.7 billion of funding for new power plants and grids, the government said late on Monday, in a move that may help unlock billions of dollars of foreign investment. The plan, known as PDP8, is aimed at ensuring energy security […]

Altigreen teams up with Indian Bank to provide Retail Finance Solution

Business & Finance

Altigreen partners with Indian Bank to provide retail finance solution – EQ Mag

May 17, 2023 Anand Gupta

India’s leading commercial electric vehicle manufacturer, Altigreen has partnered with Indian Bank to provide its clients specialised retail financing options in an effort to ease the EV purchasing process. Indian Bank, one of the most reputable public sector banks, will now make its range of financial products available to Altigreen’s customers pan India as a […]

Business & Finance

India’s newest infra lender to loan Rs 1 lakh crore this fiscal – EQ Mag

May 17, 2023 Anand Gupta

NaBFID was set up as a development finance institution to help fill the gap in infrastructure financing after commercial banks withdrew from the space due to large defaults between 2010 and 2015. Mumbai : The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) […]

Icra downgrades Shapoorji Pallonji rating, assigns negative outlook

Business & Finance

Shapoorji Pallonji may pledge Tata Sons shares to raise $1.6 billion – EQ Mag

May 17, 2023 Anand Gupta

Shapoorji Pallonji is in talks with Ontario Municipal Employees Retirement System, Varde Partners, Cerberus and Farallon Capital Management for the fund raising exercise Shapoorji Pallonji group plans to raise $1.6 billion through private credit facility, according to people familiar with the development. The engineering and infrastructure major may pledge some of its shares in Tata […]

Business & Finance

India’s Reliance sells diesel at cheaper rates than state retailers: dealers – EQ Mag

May 17, 2023 Anand Gupta

The retail fuel joint venture of Reliance and BP is selling diesel at about 1 rupee a litre lower than that of state-run Indian Oil, Hindustan Petroleum and Bharat Petroleum. New Delhi : India’s Reliance Industries Ltd, operator of the world’s biggest refining complex, is selling diesel at a cheaper rate than state fuel retailers, […]

Business & Finance

Silicon Valley automotive ethernet chip startup Ethernovia raises USD 64 mn – EQ Mag

May 16, 2023 Anand Gupta

OAKLAND, California : Silicon Valley automotive ethernet chip startup Ethernovia Inc said on Monday it had raised $64 million in a Series A funding round including Porsche Automobil Holding SE, Qualcomm Ventures, VentureTech Alliance and others. As automakers pivot to electric vehicles with more driver assistance functions, they are revamping the electronics to eliminate dozens […]

Business & Finance

Siemens Energy tones down profit outlook on wind sector challenges – EQ Mag

May 16, 2023 Anand Gupta

FRANKFURT : Siemens Energy, which supplies equipment and services to the power sector, expects to hit the lower end of its profit margin target this year, the company said on Monday, adding its wind turbine division remained under pressure. “Our adjusted outlook reflects the strong demand, as well as the continuous challenging market environment in […]

Business & Finance

Xiaomi India joins United Way India to empower rural communities with sustainable energy – EQ Mag

May 16, 2023 Anand Gupta

Bangalore : Xiaomi India, the country’s leading smartphone and smart TV brand, today announced its new mission, with the aim to empower five villages in the Palghar district of Maharashtra by providing them with effortless access to sustainable energy, in partnership with United Way India, a leading global philanthropy network. The partnership’s primary objective is […]