Reliance Power claims ‘fraud’ by third party, to challenge SECI ban
In a stock exchange filing later today, Reliance Power said it will take all legal steps to challenge SECI’s action that bars the company from participation in future government tenders for three years.
Anil Ambani’s Reliance Power debarred from participating in SECI’s tenders for three years
The debarment follows the submission of a fake document by Reliance Power’s arm Maharashtra Energy Generation Ltd (the ‘bidder’), now known as Reliance NU BESS Ltd, in response to SECI’s tender for setting up 1 GW/2 GWh of standalone battery energy storage (BESS) projects.
Rajesh Power Services plans to raise around INR 150-160 crore through IPO
The Gujarat-based EPC service provider for the power sector intends to utilise part of the net proceeds for in-house development of technical expertise in the production of green hydrogen and associated equipment such as electrolysers.
India re-elected as president of International Solar Alliance
The seventh session of the International Solar Alliance (ISA) Assembly has elected India as President and France as co-president for a period of two years from 2024 to 2026.
India requires $6.5 billion to achieve apparel sector’s 2030 emission reduction target through renewables and energy efficiency
A new report by Apparel Impact Institute and Development Finance International Inc. says India needs $6.5 billion in financing to reduce its textile and apparel industry’s emissions by 45% by 2030 through renewable energy and energy efficiency interventions. While around $2.5 billion is available, there is still a $4 billion financing gap in India.
Tata Power records its highest ever quarterly profit of INR 1,533 crore
Tata Power has reported a net profit (profit after tax) of INR 1,533 crore in July-Aug.-Sep quarter of FY 2024-25, up 51% year-on-year.
Govt approves three pilot projects in steel production under National Green Hydrogen Mission
These green hydrogen projects will receive a total of INR 347 crore from the government of India. The projects are likely to be commissioned in the next three years.
Azure Power secures REC and HSBC refinancing, completes early bond prepayment
With this, more than $ 500 million of debt has been refinanced in the current financial year
Global corporate funding in solar sector down 23% so far this year
Total corporate funding in the solar industry reached $22.3 billion in the first nine months of 2024, down 23% year on year. Mercom Capital Group says global uncertainties are affecting investor confidence, but an increase in debt financing and resilience in newly announced large-scale project funding are bright spots for the sector.
Adani Enterprises raises $500 million primary equity to further its growth plans
The qualified institutional placement (QIP) of Adani Enterprises Ltd was oversubscribed 4.2 times with participation from international and domestic investors.
