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Cabinet approves higher green investment limits for NTPC and NLC India
Economic Times
ยท
23d ago
Medial
The Indian Cabinet has approved increased investment limits for NTPC and NLC India to enhance non-fossil fuel capacities. NTPC can invest up to Rs 20,000 crore in NTPC Green Energy Limited, while NLC India can inject Rs 7,500 crore into NLC India Renewables Limited. The decision aligns with India's renewable energy targets, aiming for NTPCโs 60 GW capacity by 2032 and NLCโs 10.1 GW by 2030. The investments exclude nuclear energy funding.
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Rajasthan inks MoUs with four CPSEs for setting up solar power, thermal, green hydrogen projects
Thehindubusinessline
ยท
1y ago
Medial
The Rajasthan government has signed memoranda of understanding (MoUs) with NTPC, CIL, NLC India, and SJVN for the development of solar power and green hydrogen manufacturing facilities. The agreements include the addition of supercritical units to the Chhabra Thermal Power Plant by NTPC and the exploration and execution of 4,100 MW power projects by Coal India. Additionally, the MoUs cover the formation of joint ventures for lignite-based and solar power plants, as well as long-term power usage agreements for solar power projects by NLC India and SJVN.
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Cabinet Clears INR 20,000 Cr Green Energy Push by NTPC
StartupTalky
ยท
22d ago
Medial
The Indian government's Cabinet has approved a significant INR 20,000 crore investment for the state-owned NTPC to achieve 60 GW of renewable energy capacity by 2032, as part of a broader push for green energy. The investment will also allow subsidiary NTPC Green Energy Limited to support NTPC Renewable Energy Limited. This initiative aligns with India's commitment to reducing fossil fuel dependency and achieving net-zero emissions by 2070, creating job and entrepreneurship opportunities in the process.
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Tamil Nadu cabinet approves Foxconn's Rs 13,180-crore display module assembly unit
Economic Times
ยท
10m ago
Medial
- Tamil Nadu cabinet approves Rs 13,180 crore investment by Yuzhan Technology (India), a unit of Foxconn, generating 14,000 jobs. - Foxconn considering Rs 1,000 crore investment to set up smartphone display module assembly unit in Tamil Nadu for Apple. - Foxconn acquires 500,000 square feet facility near Chennai for manufacturing smartphone modules, encouraging other contract manufacturers to use its components. - Foxconn's investment is the largest among 14 projects approved by the Tamil Nadu Cabinet, with a cumulative investment of Rs 38,698.80 crore. - Tata Motors to invest Rs 9,000 crore in manufacturing Jaguar Land Rover vehicles in Ranipet. - Other investments approved include Leap Green Energy Pvt Ltd (Rs 10,375 crore), Freetrend Industrial India (Rs 1,000 crore), Kaynes Circuits India (Rs 1,395 crore), Ascent Circuits (Rs 613.6 crore), and Lucas TVS (Rs 510 crore).
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State-run NTPC's green energy arm files for $1.2 bn IPO
VCCircle
ยท
10m ago
Medial
India's NTPC Green Energy, a unit of state-owned power producer NTPC, has filed for a $1.19 billion initial public offering (IPO). The company aims to take advantage of India's growing renewables expansion plans and the strong equities market. The IPO market in India is flourishing this year, with over 235 companies raising more than $8.6 billion. NTPC Green Energy plans to use the funds to repay its unit NTPC Renewable Energy's loans. The company's move towards green energy reflects the wider trend in India's power sector.
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NTPC Green Energy launches JV with Maharashtra State Power ahead of stock market debut tomorrow | Company Business News
Livemint
ยท
8m ago
Medial
NTPC Green Energy Limited has formed a joint venture with Maharashtra State Power Generation Company Limited to develop, operate and maintain renewable energy parks in Maharashtra. The joint venture, named Mahagenco NTPC Green Energy Private Limited, will focus on developing renewable energy projects in the state. NTPC Green Energy is a wholly-owned subsidiary of NTPC Ltd, while MAHAGENCO is owned by the Government of Maharashtra. The announcement comes ahead of the listing of NTPC Green Energy's IPO, scheduled for November 27.
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NIIF, BII, Eversource to exit Ayana Renewable in $2.3-bn deal
VCCircle
ยท
5m ago
Medial
The National Investment and Infrastructure Fund (NIIF), British International Investment (BII), and Eversource Capital are selling Ayana Renewable Power to ONGC NTPC Green Pvt. Ltd (ONGPL) for $2.3 billion. ONGPL is a joint venture of state-run Oil and Natural Gas Corporation and NTPC Green Energy Ltd. Ayana, launched by BII in 2018, operates 4.1 GW of wind and solar assets, and this deal marks ONGPL's entry into the renewable energy sector.
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NLC India arm bags TNGECL contract to develop standalone BESS projects
Economic Times
ยท
1m ago
Medial
NLC India Ltd's subsidiary, NLC India Renewables, secured a contract from Tamil Nadu Green Energy Corporation Ltd for developing standalone battery energy storage system (BESS) projects. This marks NLC's first large-scale BESS project, with a total capacity of 250 MW/500 MWh, ensuring two complete charging/discharging cycles for on-demand use. The project employs a build-own-operate model, receiving viability gap funding support, and was awarded through competitive bidding.
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NTPC Green sets price band for $1.2 bn IPO
VCCircle
ยท
8m ago
Medial
NTPC Green Energy has set a price range of 102 rupees to 108 rupees per share for its upcoming $1.19 billion IPO in India. The renewable energy company's IPO will open for bids on November 19 and close on November 22, with large "anchor" investors bidding on November 18. NTPC Green is a unit of state-owned power company NTPC and plans to use the proceeds to invest in its subsidiary NTPC Renewable Energy and repay debt. India's IPO market has been strong, despite recent large IPOs receiving a lukewarm response from investors due to a slide in the stock market.
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IPO-bound NTPC Green Energy targets investments worth โน1 lakh crore in wind, solar assets by FY27 | Company Business News
Livemint
ยท
8m ago
Medial
NTPC Green Energy, a leading renewable energy company in India, plans to invest up to โน1 lakh crore in solar and wind assets by FY27. The company aims to raise โน10,000 crore through its upcoming IPO and generate the remaining funds through internal accruals. NTPC Green Energy, a subsidiary of NTPC Ltd, currently has an installed capacity of 3,220 MW and plans to increase it to 19,000 MW by March 2027. The IPO will be open from November 19-22 and is one of the largest offerings in recent times. The company also has plans for green hydrogen, pump storage power, and energy storage.
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Cabinet approves โPM-eBus Sewaโscheme to deploy 10,000 electric buses across cities
IndianStartupNews
ยท
1y ago
Medial
The Union Cabinet has approved the "PM-eBus Sewa" scheme, aiming to add 10,000 electric buses to city transportation through a public-private partnership. With an estimated cost of Rs. 57,613 crore, the scheme receives Rs. 20,000 crore central government support, operating for a decade. Prioritizing cities with populations over 3 lakh, it creates jobs and promotes green mobility, encompassing e-buses and related infrastructure.
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