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Tata mulls battery business spinoff; to expand EV, renewable energy segments

Livemint

Livemint · 1y ago

Tata mulls battery business spinoff; to expand EV, renewable energy segments

Tata Group is considering spinning off its battery business, Agratas Energy Storage Solutions, as an independent unit. This move aims to raise funds and potentially take the battery business public in Mumbai. Agratas designs and manufactures batteries for the automotive and energy sectors, with Tata Motors and Jaguar Land Rover as its anchor customers. Tata Motors is also exploring a spinoff for its electric vehicle (EV) business in the future. The valuation of Agratas could reach $5 to $10 billion depending on its growth and market sentiment.

Related News

Tata Group considering spinoff of battery business Agratas

Livemint

Livemint · 1y ago

Tata Group considering spinoff of battery business Agratas

Tata Group is reportedly considering spinning off its battery business, Agratas Energy Storage Solutions Pvt, as an independent unit. The move would enable the battery business to raise funds and potentially go public in Mumbai. Agratas, which designs and manufactures batteries for the automotive and energy sectors, has factories in India and the UK. The potential listing could value Agratas between $5 billion and $10 billion. Tata Motors is also exploring similar spinoff plans for its EV business.

Tata Power to invest ₹1.2 trillion in Rajasthan for power distribution, transmission and green transition | Mint

Livemint

Livemint · 11m ago

Tata Power to invest ₹1.2 trillion in Rajasthan for power distribution, transmission and green transition | Mint

Tata Power has signed a MoU with the Rajasthan government to expand its renewable energy presence in the state. The agreement includes initiatives such as solar module manufacturing, EV charging infrastructure, nuclear power, and rooftop solar installations. Tata Power plans to invest Rs 1.2 trillion, with Rs 75,000 crore allocated to renewable energy projects, including 10 GW of capacity. The company will also invest in upgrading transmission and distribution infrastructure and establishing 100,000 EV charging points. The initiative aims to support Rajasthan's transformation into a power surplus state and create over 28,000 direct jobs.

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.

This Tata company is riding the biggest megatrend today. Will investors gain?

Livemint

Livemint · 10m ago

This Tata company is riding the biggest megatrend today. Will investors gain?

Tata Power, previously reliant on coal for energy generation, has successfully transformed itself into a renewable energy powerhouse. With a focus on simplifying operations, divesting underperforming assets, and investing in renewables, the company now generates 40% of its capacity from clean energy sources. Tata Power aims to cut down thermal energy reliance to 30% in the next six years and achieve carbon neutrality by 2045. The company is also leading India's electric vehicle (EV) revolution, with Tata Motors as its exclusive charging partner, and plans to invest $8.3-9 billion to quadruple its renewable energy capacity by 2030.

BluPine Energy acquires 369 MW solar power assets from Acme Group

Thehindubusinessline

Thehindubusinessline · 1y ago

BluPine Energy acquires 369 MW solar power assets from Acme Group

BluPine Energy has acquired 369 MW of solar power assets from the Acme Group, increasing its total renewable energy capacity to 2.4 GW. The assets are spread across 14 special purpose vehicles in Uttarakhand, Punjab, and Karnataka. BluPine Energy plans to further expand its portfolio to 4 GW of solar and wind power, along with hybrid assets and battery energy storage, over the next five years. The company aims to bolster renewable energy capacities in India and assist in meeting renewable purchase obligations. This acquisition solidifies BluPine Energy's position in the country's renewable energy sector.

Livguard parent SAR Group mulls fundraising for electric vehicle arm

VCCircle

VCCircle · 1y ago

Livguard parent SAR Group mulls fundraising for electric vehicle arm

Gurugram-based SAR Group, the parent company of Livguard and Livpure, is contemplating raising external funds for its electric vehicle (EV) business. The EV arm, known as Lectrix EV Pvt Ltd, currently offers four models of electric scooters. SAR Group is actively exploring options to secure capital to further expand and strengthen its presence in the growing EV market.

Juniper Green mulls IPO; Tiger Global-backed Innovaccer seeks funding

VCCircle

VCCircle · 1y ago

Juniper Green mulls IPO; Tiger Global-backed Innovaccer seeks funding

Grapevine: Juniper Green Energy is considering an IPO to raise around $200-250 million. The Delhi-based renewable energy firm is in talks with investment banks for the potential listing, according to sources. If successful, the funds raised from the IPO will be used to support the company's growth and expansion in the renewable energy sector.

Energy analytics company iRasus Technologies raises seed round

Entrackr

Entrackr · 10m ago

Energy analytics company iRasus Technologies raises seed round

Energy analytics company iRasus Technologies has raised Rs 4 crore in a seed round co-led by Rohit Rajput and Srikar Reddy of IAN Angel, with participation from DFAN and other angel investors. The funds will be used to expand its product and engineering teams and accelerate business growth across India, the company said in a press release. Founded in 2019 by Arjun Sinha Roy, iRasus specializes in providing analytics and intelligence on battery data for users in electric mobility and stationary battery storage solutions. The company aims to deliver crucial data intelligence for users transitioning away from fossil fuel-based energy solutions. iRasus addresses the increasing demand for efficient integration of battery data into electric mobility and renewable energy storage solutions, focusing on scale, reliability, and affordability. Its flagship platform, Preksha, enables real-time battery management through predictive maintenance and comprehensive data analysis, helping users reduce costs, improve safety, and optimize battery usage. This insight is particularly valuable for sectors such as electric buses, fleet operators, and stationary battery users, allowing them to enhance performance, extend battery lifespan, and improve safety. Based in Gurugram, iRasus plans to connect with battery manufacturers, fleet operators, OEMs, renewable energy storage providers, telecom operators, and other users of battery storage systems.

US offers $710 million in loans for EV technology projects

Economic Times

Economic Times · 1y ago

US offers $710 million in loans for EV technology projects

The U.S. Energy Department has granted preliminary approval for around $710 million in loans to electric vehicle (EV) technology manufacturing ventures. The larger loan commitment of $544 million goes to a unit of South Korean company SK Siltron to expand a plant in Michigan for producing high-power silicon carbide electronics for EVs. Another conditional approval of $165.9 million went to American Battery Solutions to expand their EV battery pack assembly operations in Ohio and Michigan. These loans could create around 660 jobs in total. The energy department still has significant loan capacity to support clean-energy projects.

Tata Motors looks beyond group to source EV batteries

Livemint

Livemint · 1y ago

Tata Motors looks beyond group to source EV batteries

Tata Motors will procure battery packs for its electric vehicles (EVs) from Octillion Power Systems in China, ending the practice of solely purchasing them from Tata AutoComp Systems. The decision comes as Tata Motors attempts to address performance issues and diversify its supply and technology base. The Curvv SUV will be the first Tata vehicle to use an external battery supplier since the launch of the Nexon EV in 2020. Octillion has installed a 2 GWh battery pack capacity in India and will provide battery packs for the 45 kWh variant of the Curvv EV.

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