Press Releases

Magenta Mobility is one of India’s largest providers of electric mobility solutions for last-mile delivery, the journey from hubs to customers. It currently operates in seven cities across India and will use the capital to continue its expansion, bringing electric vehicles and its pioneering tech-enabled services to its customers across the country.

The partnership aims to benefit more than 1 lakh learners, which will facilitate job and entrepreneurship opportunities for the learners. It will enable over 5 GW installations over the next 5 years, facilitating the transition to a cleaner, greener India, stated National Skill Development Corporation (NSDC).

After a thorough and rigorous assessment across various ESG-centric parameters, ReNew has been listed as a ‘low risk’ company with a rating of 11.6, signifying its low ESG risk exposure and sustainability. The company has been ranked seventh among 93 renewable power companies and tenth among 698 utilities globally.

Bhalla noted that a series of economic disruptions have exposed the world to risks that are slowing down the pace of the global clean energy transition and have raised concerns about energy security.

The startup is scaling up its battery recycling capabilities and operations. In October 2022, Metastable opened a 21,000 sq ft urban mining facility located on the outskirts of Bengaluru. The facility can process 1,500 tonnes of material annually, which accounts for up to 6% of India’s recycling demand for Li-ion batteries.

Policy mechanisms, common protocol for hydrogen certification and regulatory frameworks along with collaborations between countries, could accelerate a green hydrogen ecosystem, said Shri B. S. Bhalla, Secretary, MNRE, while speaking at the event.

Through the D-REC partnership, South Pole supports Oorja to certify and commercialise the renewable energy generated by Oorja’s solar assets, using the D-REC platform. This unlocks a new revenue stream that helps financing and thus accelerating the deployment of solar irrigation pumps.

NTPC Ltd, India’s largest integrated power generator, has registered the highest-ever power generation of 400 BU in FY23, a growth of 10.80% via-a-vis previous year.

The 2nd ETWG meeting will be complemented by three side events: seminar on global green hydrogen ecosystem – enabling zero pathways; seminar on accelerating cooling as a key enabler towards energy transition; and diversified renewable energy supply chains for advancing energy transitions.

As per the rating agency, the key rating drivers were established market position, strong distribution network, diversified revenue portfolio, strong revenue growth over FY22, steady revenue profile in 9MFY23, and robust credit metrics.