Waaree Renewable Q2 profit surges 124.18% YoY
Waaree Renewable Technologies has reported a revenue of INR 150.06 crore (around $18 million) and a net profit (profit after tax) of INR 18.29 crore for the quarter ending Sept. 30.
Husk Power secures $100+ million to fund new solar minigrids in Africa and South Asia
Husk Power Systems (Husk) has raised over $100 million in equity and debt to fund its new solar minigrid projects in South Asia and Africa. The company said the new capital would support 1,400 new minigrids, around 300,000 new connections, and avoid 350,000 tonnes of CO2 from the displacement of diesel generation while adding 2,500 new direct jobs.
Cabinet approves over $2.49 billion for inter-state transmission line backing 13 GW of renewable energy project in Ladakh
The transmission line for evacuating power from a 13 GW renewable energy project in Ladakh will pass through Himachal Pradesh and Punjab up to Kaithal in Haryana, where it will be integrated with the national grid.
Leaders from 116 countries to attend the 6th Assembly of International Solar Alliance in New Delhi
The Sixth Assembly of the International Solar Alliance will focus on universalizing energy access through solar mini-grids, mobilizing finance for accelerated solar deployment, and diversifying supply chains and manufacturing for solar.
Avaada secures $1.8 billion REC finance for green ammonia project
Avaada has signed a memorandum of understanding with REC Ltd for $1.8 billion green ammonia project financing.
REC commits over $3.7 billion for Acme, Avaada green hydrogen projects in Odisha
REC Ltd will provide debt funding totaling INR 31,000 crore (over $3.7 billion) to support two green hydrogen projects in Odisha. This includes INR 16,000 crore to Acme Group and INR 15,000 crore to Avaada.
India’s steel, cement plants need $627 billion to go net zero
A CEEW study calculates the cost of decarbonizing the steel and cement production plants in India. It also finds carbon capture and storage, if successfully scaled up, could abate 56% of emissions from the steel industry.
India’s emergence as a credible option in renewables supply chain
Clean technology and ancillary equipment offer a cumulative $300-400 billion sales opportunity for Indian manufacturers within this decade, according to a new report by KPMG that says India has the potential to emerge as an alternative in the renewable energy supply chain.
NIIFL launches $600 million bilateral India-Japan Fund
The India-Japan Fund will actively invest in India’s environmental preservation sector, including renewable energy and e-mobility businesses.
Brookfield, Axis form second JV to develop renewable energy projects
Brookfield and Axis Energy Ventures had earlier formed a joint venture platform ABC Renewables to develop renewable energy projects. The latest JV will have up to $845 million of equity investment by Brookfield.
