Business & Finance

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

Three Adani firms weigh raising up to $5 billion – EQ Mag

May 12, 2023 Anand Gupta

BENGALURU : Three Adani Group firms are considering raising up to $5 billion, Bloomberg News said on Thursday, months after a mega $2.5 billion share sale by the Indian group’s flagship firm fell through in the wake of a scathing short-seller report. The conglomerate’s flagship firm Adani Enterprises Ltd, Adani Green Energy Ltd and Adani […]

Business & Finance

Alcoholic Beverage Company Wuliangye Invests RMB 1 Billion to Develop Renewable Energy Businesses – EQ Mag

May 12, 2023 Anand Gupta

Wuliangye, a major player in China’s Baijiu market, has long been recognized for its brewing techniques and cultural heritage. However, in recent years, the company has also entered the field of new energy technologies with the aim of developing its own renewable energy businesses. With the market for new energy technologies rapidly expanding, Wuliangye has […]

Credit Rating – JSW Hydro Energy Limited

Business & Finance

JSW Renew Energy Three signs power purchase deal with Solar Energy Corp – EQ Mag

May 11, 2023 Anand Gupta

The Power Purchase Agreement is signed for supply of power for 25 years with a tariff of Rs 2.94 per KWh, said JSW Energy. Shares of JSW Energy surged 5 percent on May 8, reacting to the announcement that the company’s step-down subsidiary JSW Renew Energy Three has signed a Power Purchase Agreement with Solar […]

Business & Finance

REC Ltd Signed Agreement with Nagaland Government to Implement RDSS Scheme – EQ Mag

May 11, 2023 Anand Gupta

REC Limited has signed an agreement with the state government to implement the Rural Electricity Distribution System Strengthening (RDSS) scheme. NEW DELHI : REC Limited has signed an agreement with the state government to implement the Rural Electricity Distribution System Strengthening (RDSS) scheme In a move aimed at improving the quality, reliability, and affordability of […]

Ola Electric to make S1 Holi special edition scooter. Details here

Business & Finance

US investor Vanguard marks down Ola’s valuation by 35% to $4.8 billion – EQ Mag

May 11, 2023 Anand Gupta

Vanguard reportedly has about 0.7 per cent stake in the ride-hailing firm US-based investment management firm Vanguard Group has marked down the valuation of ANI Technologies, the parent company of ride-hailing firm Ola, by about 35 per cent to $4.8 billion from $7.4 billion, according to a filing. The value of Ola’s shares held by […]

Business & Finance

China’s SAIC to dilute stake in MG Motor India, drive EV sales – EQ Mag

May 11, 2023 Anand Gupta

BENGALURU : China’s SAIC Motor plans to drop its ownership in MG Motor India to allow domestic entities to take a majority stake, the Indian electric vehicle maker said on Wednesday, as Chinese investments face increased scrutiny by the New Delhi government. MG also plans to invest more than 50 billion rupees ($611.4 million) to […]

HPL-Electric-and-Power-Ltd-secures-Rs.-204-crores-in-Smart-Meter-Orders

Business & Finance

HPL Electric and Power Ltd Secures INR 204 Crore Smart Meter Orders – EQ Mag

May 11, 2023 Anand Gupta

Leading Indian electric equipment manufacturer HPL Electric and Power Ltd. (HPL) declared today that it has received smart meter orders worth INR 204 crore from clients with a presence across the country. The company has been operating and providing at an increased pace in alignment with the roll-out of government-led programs for smart metering thanks […]

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

Business & Finance

GAIL plans $4.9 billion ethane cracker in West India: Sources – EQ Mag

May 11, 2023 Anand Gupta

Indian companies are boosting their petrochemical production capacity as the expanding economy boosts the need for goods ranging from plastics to paints and adhesives. A cracker produces ethylene, required for products such as plastics. GAIL (India) Ltd, the country’s top gas supplier, plans to build a 400-billion rupee ($4.89 billion) ethane cracker near its liquefied […]

Tesla may release $25,000 electric car without a steering wheel in 2023

Business & Finance

Tesla Begins Building $1 Billion Lithium Refinery in Texas – EQ Mag

May 10, 2023 Anand Gupta

Tesla broke ground on a lithium refinery it plans to build in Corpus Christi, Texas with CEO Elon Musk joined by Gov. Greg Abbott on Monday for the ceremony. Tesla plans to invest $375 million to build the facility according to filings with the Texas Comptroller. Tesla CEO Elon Musk joined Texas Governor Greg Abbott […]

European Investment Bankand Development Bank of SouthernAfricalaunch EUR 400 million South Africa renewable energy investment initiative

Business & Finance

Actis’ Japanese Renewable Firm Gets $500 Million to Develop 1.1 GW Capacity – EQ Mag

May 10, 2023 Anand Gupta

Nozomi Energy created as a Japan-focused renewables platform targeting 1.1GW of generation by 2027 Nozomi will deliver onshore wind and solar power with first investment in Hergo Japan Energy London, Tokyo : Actis, a global investor in sustainable infrastructure, has launched Nozomi Energy, a new US$500 million Japan-focused renewables platform. Nozomi will target 1.1GW of […]