Business & Finance

JSW Energy in agreement with Australian firm for Green Hydrogen

JSW Group in talks with MG Motor India, BYD India to pick up stake – EQ Mag

April 25, 2023 Anand Gupta

‘JSW Group is in talks with MG Motor India and BYD India. The early talks are for picking up stake,’ said the report Sajjan Jindal-led conglomerate JSW Group is in talks with MG Motor India to pick up stake in the automobile company, said a report on Monday. The steel-to-sports group is also exploring purchase […]

SECI’s renewable energy trade crosses 35 BU mark in FY23; biz generates Rs 10,000 crore revenue – EQ Mag

April 25, 2023 Anand Gupta

State-owned SECI traded 35 billion units of renewable energy RE during financial year 2022-23, registering a year-on-year y-o-y rise of 59 per cent, an official statement said Monday.During the year, Solar Energy Corporation of India Limiteds SECI revenues from power trading crossed Rs 10,000 crore-mark for the first time since its inception, Ministry of New […]

Vedanta arm Fujairah Gold FZC to make foray into clean energy

Business & Finance

UK’s Vedanta Resources cuts gross debt by $1 billion – EQ Mag

April 25, 2023 Anand Gupta

BENGALURU : Vedanta Resources Ltd, the parent of Indian resources major Vedanta Ltd on Monday said it has trimmed its gross debt by $1 billion as the firm seeks to allay concerns over its ability to meet financial obligations beyond September. Vedanta Resources has paid all its maturing loans and bonds due in April 2023, […]

MG Motor sets up first public charging stn ahead of EV launch

Business & Finance

MG Motor expects 30% of sales to come from EVs this year; gears up to drive in electric hatch Comet – EQ Mag

April 24, 2023 Anand Gupta

The company broke even in March, and expects EVs to comprise 30 percent of its total sales volumes. While previewing its electric car Comet, MG Motor India revealed that it has invested around Rs 800 crore to produce the car locally at its plant in Halol, Gujarat. The company anticipates a strong response and will […]

Why sodium is Mukesh Ambani’s big battery bet in the EV race

Business & Finance

RIL withdraws merger of Reliance New Energy Limited with self – EQ Mag

April 24, 2023 Anand Gupta

Reliance Industries on Saturday said the company’s board has withdrawn the proposal to merge subsidiary Reliance New Energy Limited (RNEL) with it, and RNEL will undertake the conglomerate’s renewable energy business. “Based on a review of the new energy / renewable energy business and investment structure, the Board, at its meeting held on April 21, […]

Mahagenco Issue Tender for 62MW AC CRYSTALLINE GRID INTERACTIVE SOLAR PV POWER PROJECT

Business & Finance

Brookfield expands green footprint, buys 51% stake in CleanMax Enviro – EQ Mag

April 24, 2023 Anand Gupta

Canadian investment firm Brookfield has picked up a 51% stake in CleanMax Enviro (CleanMax Solar), which supplies renewable energy to commercial and industrial establishments, said two sources aware of the development. The equity value of the company is between ₹3,500 crore and ₹4,000 crore, they added. The investment will largely be a secondary sale of […]

Business & Finance

India’s Adani Ports starts $130 million buyback of debt securities – EQ Mag

April 24, 2023 Anand Gupta

India’s Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Monday it has started a buyback programme of certain debt securities to partly prepay near-term loans due in 2024. Adani Ports said in an exchange filing that it has floated a tender of up to $130 million in […]

ADB Ranks Highly in New Development Finance Institutions Transparency Index

Business & Finance

ADB Operations Reach $20.5 Billion in 2022, Addressing Crises, Building Resilience – EQ Mag

April 24, 2023 Anand Gupta

MANILA, PHILIPPINES : The Asian Development Bank (ADB) committed $20.5 billion from its own resources in 2022 to help Asia and the Pacific continue its recovery from the COVID-19 pandemic despite fresh economic headwinds and crises. Financial and operational results were published today in ADB’s Annual Report 2022. The report summarizes how the bank combined […]

Global wind, solar growth on track to meet climate targets

Business & Finance

ADB and ACWA Power Sign Deal for Two Utility-Scale Wind Power Plants in Uzbekistan, the Region’s Largest Wind Development – EQ Mag

April 24, 2023 Anand Gupta

TASHKENT, UZBEKISTAN : The Asian Development Bank (ADB) and ACWA Power Company (ACWA) signed $174 million worth of loans to develop the Bash wind power and Dzhankeldy wind power plants, both located in the Bukhara region in Uzbekistan. The financing comprises loans amounting to $40.5 million for Bash and $46.5 million for the Dzhankeldy funded […]

Tata Elxsi To Work With IIT Guwahati On EV Technologies

Business & Finance

Tata Elxsi to collaborate with IIT Guwahati on electric mobility technology – EQ Mag

April 22, 2023 Anand Gupta

One key area of work under this collaboration will be the digital analysis of electrical signature data for traction motors which underpins EV mobility across segments, including Automotive and Rail Tata Elxsi on Monday signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology, Guwahati (IIT-G) to jointly work on developing and commercialising […]