Northvolt CEO steps down following bankruptcy filing
Company co-founder Peter Carlsson steps down from CEO position at Northvolt in the wake of Chapter 11 announcement in the United States. The Swedish battery maker has embarked on a debt restructuring process and is seeking new sources of funding.
The Hydrogen Stream: ACME Cleantech, BASF sign agreement to supply green ammonia to Europe
ACME Cleantech and BASF have also signed a Memorandum of Understanding (MoU) to explore further collaboration in the green ammonia business.
Renewables (including large hydro) share reaches 45% in India’s cumulative installed power capacity
India’s installed power generation capacity hit 453 GW as of September 2024 with renewables (including large hydro) contributing 45%.
Avaada signs MoU to develop 1.2 GW pumped storage project in Rajasthan
Avaada Group will develop a 1.2 GW pumped storage project in Rajasthan with a total investment of around INR 5,800 crore over the next five to seven years.
NGEL, NREDCAP tie up for 25 GW of renewable energy projects in Andhra Pradesh
NTPC Green energy Ltd (NGEL) and New and Renewable Energy Development Corp. of Andhra Pradesh (NREDCAP) have entered a joint venture agreement to develop 25 GW of renewable energy projects, 0.5 mmtpa of green hydrogen and derivatives projects, and 10 GW of pumped hydro projects in the state.
ReNew Q2 profit up 31% YoY
ReNew Energy Global (ReNew) has reported a total income (or total revenue) of INR 29,887 million ($357 million) and net profit of INR 4,939 million ($59 million) for the second quarter of FY 2024-25.
The Hydrogen Stream: SECI, H2Global to collaborate on green hydrogen initiatives
The collaboration will focus on enhancing knowledge exchange on market-based mechanisms and fostering cooperation between India and renewable hydrogen importing countries.
Integrating green hydrogen in steel production
Transitioning the steel industry to green hydrogen will be a complex journey, but the groundwork is already being laid. India’s pilot projects, along with sustained investment in renewable energy and hydrogen infrastructure, create a strong foundation for a cleaner future.
Lithuania bans remote Chinese access to solar, wind, storage devices
Lithuania has decided to tighten its cybersecurity laws, banning manufacturers from countries deemed national security threats, including China, from remotely accessing management systems of solar, wind, and storage facilities. The European Solar Manufacturing Council has backed the move.
India expected to hit 132 GW of installed solar capacity by March 2026
ICRA expects India to add 22 GW of new solar power generation capacity in FY 2025 and 27.5 GW in FY 2026, taking its cumulative installed PV capacity to 131.5 GW from 82 GW as of March 31, 2024.
