In Short : The Union Cabinet has approved greater delegation of power to NTPC Ltd, enabling it to invest more freely in NTPC Renewable Energy Ltd. and its joint ventures or subsidiaries. This move aims to accelerate the development of renewable energy capacity across India. The decision supports India’s clean energy transition and aligns with […]
Mahindra open to investing in EV battery cell maker to secure supplies – CEO – EQ Mag Pro
While the Volkswagen deal would meet Mahindra’s “short to medium term” battery needs, Mahindra CEO Anish Shah said the company was open to looking at some sort of “investment with a global leader” in the battery-cell space if it needed to secure future supplies. India’s Mahindra & Mahindra could consider investing in a battery-cell company […]
Goldman Sachs Partners With Greenskies Alums to Launch Distributed Solar Venture
Goldman will put up to $275 million behind distributed solar projects, returning for more action in the C&I market. Goldman Sachs announced plans to invest up to $275 million into a new, as-yet-unnamed U.S. development joint venture that will focus on distributed solar projects for commercial, industrial and municipal customers. The new JV will be […]
Form Energy Raises $40M Series B for Super-Long-Duration Grid Storage
Italy’s Eni joins list of heavyweight backers as Massachusetts-based Form looks to unlock “baseload renewables.” Long-duration storage startup Form Energy thought that solving the problem of months-long grid storage would take a decade. But its last year of work advanced faster than expected. Based on that progress, the team of industry veterans has fast-tracked development […]
Enel’s Clean Energy Strategy Pays Off With Increase in Earnings
The earnings growth validates a strategic plan Enel laid out last November. The Italian energy giant Enel has seen a growing clean energy focus pay off with a 3.8 percent increase in core earnings in 2018. The rise, which saw earnings before interest, tax, depreciation and amortization (EBITDA) hitting €16.2 billion ($18.3 billion), was mainly […]
Shell Acquires Greenlots to Lead North American EV Charging Push
The Los Angeles startup found a well-capitalized backer for its charging network software platform. Shell New Energies, a subsidiary of oil major Royal Dutch Shell, acquired EV charging startup Greenlots, claiming a bigger stake in the emerging electric mobility marketplace. Greenlots will keep its brand and leadership, and will become the “foundation” of Shell’s electric […]
Bloomberg NEF: Solar Investment Declined 24% in 2018, but Capacity Reached Record Levels
According to Bloomberg New Energy Finance, investments in clean energy once again exceeded $300 billion in 2018. Solar investment fell in 2018, according to new data out from Bloomberg New Energy Finance, dropping nearly a quarter from 2017. At the same time, Bloomberg NEF said it was a record year for solar capacity, which topped […]
ElectrIQ Raises $6 Million Seed Round to Finance Home Storage Push
ElectrIQ Raises $6 Million Seed Round to Finance Home Storage Push The startup will need the money to take on the likes of Tesla and LG Chem. Bay Area startup ElectrIQ raised a $6 million seed round to support its challenge to the home storage incumbents. Earlier this month, the company released a new product, […]