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Micromax makes foray into renewable energy space

YourStory

YourStory · 6m ago

Micromax makes foray into renewable energy space

Micromax Informatics, a leading consumer electronics brand, has launched Startup Energy to enter the renewable energy sector. This new venture aims to transform India's solar panel manufacturing, supporting the country's clean energy mission. Focused on accessibility and cost-effectiveness, Startup Energy plans to produce high-efficiency solar panels for varied applications. It has partnered with China's Jinchen to set up a 5GW solar module manufacturing line, combining automation and cutting-edge technology for sustainable solutions.

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Adani Green Energy crosses 12GW renewable energy capacity mark, added 275MW solar project

YourStory

YourStory · 6m ago

Adani Green Energy crosses 12GW renewable energy capacity mark, added 275MW solar project

Adani Green Energy (AGEL) has achieved a total operational renewable energy capacity of 12,258.1 MW, following the commissioning of a 275 MW solar power project in Khavda, Gujarat. This makes AGEL the first and only Indian renewable energy company to reach this milestone. The portfolio includes solar, wind, and hybrid capacities, contributing to significant CO2 emissions reductions and powering over 6.2 million homes. AGEL is developing the world's largest renewable energy plant at Khavda.

John Cockerill eyes India as export hub

Livemint

Livemint · 1y ago

John Cockerill eyes India as export hub

Belgium-based engineering company John Cockerill Group plans to establish an electrolyzer plant in India, aiming to make it a hub for exporting the technology. The company intends to invest several hundred million dollars into the facility within the next two years. Furthermore, John Cockerill Group plans to expand its presence in the green hydrogen space in India, with a joint venture facility with Greenko. The company is also considering entering the defence manufacturing segment in India. India's low-cost renewable energy makes it an attractive market for green hydrogen production.

Spotlight: Can KKR-backed Hero Future catch up with green energy giants?

VCCircle

VCCircle · 1y ago

Spotlight: Can KKR-backed Hero Future catch up with green energy giants?

Hero Future Energies (HFE), a renewable energy company backed by the Hero Group, aims to catch up with green energy giants in India's wind and solar power sector. Founded in 2012, HFE initially seemed poised for success, but is facing stiff competition. With the potential to play a crucial role in India's clean energy transition, HFE is focused on expanding its renewable energy portfolio and increasing operational efficiencies. With its backing from KKR, HFE is hopeful to make a significant impact in the renewable energy space.

Micromax Explores JV To Join AI & Electronics Bandwagon

Inc42 · 11m ago

Micromax Explores JV To Join AI & Electronics Bandwagon

Micromax is in talks with a Taiwanese memory chip manufacturer to establish an R&D unit in India and develop custom memory and storage solutions. This partnership aims to reduce costs and cater to the growing demand for AI data centers. Additionally, Micromax is also working on a content app that will offer multiple OTT streaming platforms, with the goal of disrupting the content space.

Tata Power sets ₹20,000 crore investment target for FY25, to drive renewable energy expansion | Mint

Livemint

Livemint · 1y ago

Tata Power sets ₹20,000 crore investment target for FY25, to drive renewable energy expansion | Mint

Tata Power plans to invest approximately ₹20,000 crore in the current fiscal year, with the majority of the investment going towards its renewable energy business. N. Chandrasekaran, the chairman of Tata Power, shared this during the company's annual general meeting. Alongside renewable energy, a portion of the investment will be dedicated to the transmission and distribution operations. The company is looking to expand its consumer base, explore opportunities in nuclear reactors, and increase its market share in the rooftop solar space. The goal is to enhance the renewable energy portfolio to 15 GW within five years.

Biogas plant maker Gruner Renewable raises $60 mn

VCCircle

VCCircle · 1y ago

Biogas plant maker Gruner Renewable raises $60 mn

Noida-based biogas company, Gruner Renewable Energy, has secured $60 million in equity funding for expanding its operations. The company aims to set up new compressed biogas (CBG) plants across India, increase its presence in the market, and explore new business verticals such as sustainable aviation fuel and green hydrogen. Additionally, the funding will support research and development initiatives to improve energy output efficiency. Gruner Renewable Energy specializes in building plants and solutions that convert biomass and biowaste into renewable fuel.

UAE's Masdar launches facility to produce 1GW of uninterrupted renewable energy

VCCircle

VCCircle · 7m ago

UAE's Masdar launches facility to produce 1GW of uninterrupted renewable energy

UAE's Masdar has launched a renewable energy facility capable of producing 1 gigawatt of uninterrupted clean power. Announced during Abu Dhabi Sustainability Week by Sultan Al Jaber, the project marks a significant advancement in transforming renewable energy into consistent baseload power. Al Jaber highlighted the challenge of meeting rising energy demands, potentially increasing by 250% by 2050. This initiative addresses the need for diverse, reliable energy sources to support the future's energy-hungry applications like ChatGPT.

Expect renewable energy sector to see a turnaround: Hero Future Energies’ Srivatsan Iyer

VCCircle

VCCircle · 1y ago

Expect renewable energy sector to see a turnaround: Hero Future Energies’ Srivatsan Iyer

Hero Future Energies (HFE), a green energy company founded in 2012, is expecting a positive shift in the renewable energy sector. While HFE is currently smaller compared to competitors like Adani Green and Renew Power, the company believes that the sector will experience a turnaround. HFE is focused on expanding its presence and tapping into new opportunities in the renewable energy market in India.

Mahindra Group, Ontario Teachers’ Pension Plan launch renewable energy InvIT

Livemint

Livemint · 1y ago

Mahindra Group, Ontario Teachers’ Pension Plan launch renewable energy InvIT

Mahindra Group and Ontario Teachers' Pension Plan have co-sponsored an infrastructure investment trust (InvIT) called Sustainable Energy Infra Trust (SEIT) to focus on the growth of the renewable energy sector in India. SEIT debuted on the National Stock Exchange and has raised ₹1,365 crore ($165 million) as part of the initial offer. The trust holds operational renewable power assets with a generation capacity of approximately 1.54 GWp, and Mahindra Susten has entered into a right of first offer arrangement to offer their renewable energy assets for sale to SEIT.

Adani Green to raise $1.12 bn to expand renewable energy capacity

VCCircle

VCCircle · 1y ago

Adani Green to raise $1.12 bn to expand renewable energy capacity

Adani Green Energy, an Indian renewable energy company, will receive a $1.12 billion investment from its key shareholders to expand its renewable power capacity. The company plans to issue 63.1 million warrants on a preferential basis, with each warrant convertible into an equity share. The funds will be used to reduce debts and accelerate investment in various projects. Adani Green aims to achieve its target of 45 GW renewable capacity by 2030, up from the current 8.4 GW. The company has already raised $3 billion for its renewable capacity.

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