Ola Electric to set up lithium battery gigafab in Tamil Nadu
The winner of the 20 GWh battery cell capacity under the government’s production-linked incentive (PLI) scheme is going to set up its lithium battery factory in Tamil Nadu.
State EV policies need better implementation mechanisms
A study reveals that none of the eight states where EV policies have been active for two years or more is on track to meet its targets of EV penetration, charging infrastructure, or investments.
Waaree Renewable Q3 profit soars 11,250% year-on-year
Waaree Renewable Technologies has posted a profit after tax (net profit) of INR 24.97 crore (around $3 million) for the quarter ended December 31, 2022, 11,250% up year-on-year.
Ensuring a just energy transition
The renewable energy sector must lead responsibly by addressing land use, circularity and financing.
EIB to support green hydrogen in India with EUR 1 billion loan
European Investment Bank (EIB) has joined the India Hydrogen Alliance and agreed to increase support for large-scale green hydrogen hubs and projects across India with indicative funding of EUR 1 billion.
Adani Green Energy Q3 profit soars 110% YoY
Adani Green Energy Ltd, the renewable energy arm of the diversified Adani Group, reported a consolidated net profit of INR 103 crore in the three months ended Dec. 31, 2022.
PM Modi inaugurates India Energy Week 2023 in Bengaluru
Prime Minister Narendra Modi today launched India Energy Week 2023, a three-day event connecting India’s energy stakeholders with international counterparts to collaborate for a responsible and smart energy transition on India’s road to net zero. Addressing the gathering, the Prime Minister said India is today the world’s most suitable place for investment. He called upon the stakeholders to explore every possibility in India’s energy sector and get involved with it.
Tata Power posts $127.6 million profit in Q3 FY 2022-23
The integrated power company reported a profit after tax or net profit of INR 1,052 crore ($127.6 million) in the quarter ended December 2022, a 91% increase year-on-year.
Budget 2023-24 reaffirms government’s focus on domestic solar and battery manufacturing, green hydrogen
The budget signifies the government’s intent to drive domestic manufacturing of lithium battery cells as it waives customs duty on the import of machinery required for manufacturing these cells. It also continues with nil customs duty on critical inputs for solar manufacturing. The budget also aims to support large-scale battery storage projects through viability gap funding.
Abu Dhabi’s International Holding Company to invest $400 million in Adani Enterprises FPO
Abu Dhabi-based International Holding Company (IHC) has subscribed to 16% of Adani Enterprises $2.5 billion Further Public Offering. This is IHC’s second investment deal completed with Adani Group after last year’s $2 billion investment in Adani Green Energy, Adani Transmission, and Adani Enterprises.
