Insolation Energy reports growth in revenue and profits in FY 2023
The Rajasthan-based solar panel manufacturer’s consolidated revenue grew 30% year-on-year to INR 280.05 crore (around $33.8 million) in FY 2022-23. Net profit surged 54% to INR 10.68 crore.
Battery-tech startup EMO Energy raises $1.2 million
The Bengaluru-based startup has developed a cell-agnostic platform that purportedly allows 100% fire safety, 20-minute fast charging, and 120% improvement in battery life.
Public-private partnerships: The path to sustainable transportation in India
By bringing together the private sector’s expertise and the public sector’s policy support, public-private partnerships can support the development of new technologies and solutions to improve the performance, efficiency, and affordability of electric vehicles (EVs).
Waaree Renewable profit soars by 522%
Waaree Renewable Technologies reported a revenue of INR 351 crore and a net profit of INR 55.3 crore in FY 2022-23.
REC eyes up to INR 3 lakh crore lending for renewables by 2030
The state-owned power finance company aims to meet 20% of the INR 15 lakh crore ($181.25 billion) financing requirement for India’s targeted 500 GW of installed RE (non-fossil fuel) capacity.
Govt to launch scheme for livelihood applications of distributed renewable energy
India’s power minister said the government will create a large program for distributed renewable energy livelihoods, like rooftop solar and solar irrigation schemes.
Green hydrogen demand to reach 2.85 MMT/annum by 2030
A new report estimates India will reach annual green hydrogen demand of 2.85 million metric tons (MMT) by 2030 under the current policy and project momentum. To meet this demand, it will need 62 GW of additional renewable energy capacity, 29 GW of electrolyzer capacity, and 11 MMT per annum of ammonia infrastructure, which together represent an investment opportunity of at least $57 billion.
Tata Power profit soars by 77%
Tata Power recorded a revenue of INR 56,033 crore and a net profit of INR 3,810 crore in FY 2022-23.
BluSmart raises $42 million to scale EV fleet, megacity operations
BluSmart Mobility secured $37 million in equity and $5 million in venture debt in its latest funding round. It will use the funds to expand its EV fleet capacity to 10,000 over the next one year and penetrate deeper into megacities.
Solar Ladder raises INR 11 crore in seed funding
Solar Ladder co-founder Abhishek Pillai told pv magazine they would use the funding to market and increase the sales of their software-as-a-service (SaaS) product to PV installers pan India. The company also plans to expand its customer support team.
