Daily News Wrap up: ALMM, RLMM Exemption for Green Hydrogen Announced

RENEWABLE ENERGY NEWS

ALMM, RLMM Exemption for Green Hydrogen Announced

In an announcement that was widely speculated about, the Ministry of New and Renewable Energy has issued an office memorandum dated May 27, that exempts solar plants , and wind energy from ALMM( Approved list of models and manufacturers) and RLMM ( Revised list of...Read more .

NTPC Awards 15 MW Bhilai Floating Solar Contract To Madhav Infra

Madhav Infra Projects (MIPL) has secured a contract to develop a 15 MW floating solar power plant in Chhattisgarh. NTPC-SAIL Power Company (NSPCL), a joint venture of NTPC and SAIL, has sent a letter of acceptance to Madhav Infra Projects (MIPL), an engineering, procurement, and...Read more .

Avaada Group Secures Rs 315 Cr Financing For Karnataka Solar Project

The renewable energy arm of Avaada Group, Avaada Energy, has announced that it has closed the financing of about Rs 315 crore from Aseem Infrastructure Finance Limited (AIFL), an IFC (Infrastructure Finance Company), said the company statement. The company has secured financing for its solar..Read more .

Green Stocks May 29: Waaree, Suzlon Stock Prices Up

In the last one day two renewable energy companies made its presence felt in the stock market. Indian solar module manufacturer Waaree Renewable Technology and country's wind turbine maker Suzlon witnessed the highest surge in their stock prices. While Waaree reported a surge of 5%...Read more .

CIP, GE Vernova Collaborate To Supply Blades For 760 MW Wind Project

Denmark-based Copenhagen Infrastructure Partners (CIP) and GE Vernova's onshore wind division signed an agreement of more than EUR 700 million. This agreement was undertaken to deliver, install, and commission?125 GE Vernova 6.1-158 wind turbines at the Teruel wind project. This wind project was promoted by...Read more .

Suzlon Secures 551.25 MW Order For Its 3 MW Series From Aditya Birla

Indian wind energy company Suzlon Group today announced a new order win for the development of 551.25 MW wind power project for the Aditya Birla Group, a Global Indian Conglomerate. Suzlon will install 175 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower...Read more .

ADB Commits $2.6 Billion In Sovereign Lending to India

The Asian Development Bank (ADB) which supports projects in developing member countries committed $2.6 billion in sovereign lending to India in 2023 for projects related to urban development, supporting industrial corridor development, promoting power sector reforms, support horticulture, and enhance connectivity. ADB also extended $23.53...Read more .

Inox Wind Raises Rs 900cr Through Sale of Equity Shares

INOXGFL Group, one of India’s leading conglomerates today announced the successful conclusion of equity share sale of Inox Wind Limited by its promoter Inox Wind Energy Limited, raising around Rs. 900 crores. The transaction was executed via block deals on the stock exchanges and witnessed...Read more .

Clean Power Can Reduce India’s Dependence On Gas For Peak Demand: IEEFA

The Institute for Energy Economic and Financial Analysis (IEEFA) in its recent report found that new and cleaner options could soon replace the role of gas-based power in meeting peak electricity demand in India. India’s peak power demand, which, according to government forecasts, is likely...Read more .

RWE To Build 1.6 GW Wind Farm Off German North Sea

RWE has made the investment decision for its Nordseecluster, involving offshore wind projects with a total capacity of 1.6 gigawatts (GW). The wind farms will be built in the North Sea, about 50 kilometres north of the island of Juist. Suppliers of the main components...Read more .

Indowind Witness Rs 61.50 Lakh Profit In March 2023, Q4

Chennai-based wind energy company Indo Wind recently released its quarterly result report. Indowind Energy has wind farms, manages wind assets, and generates green power for sale to utilities and corporations. In its March quarter, Indo Wind reported a profit of Rs 61.50 lakh. whereas, last...Read more .

Alpex Solar Net Profit Increases 680% YoY After IPO

Alpex Solar Limited has released its yearly financial statements since its successful IPO on February 15, 2024, is this year. Net earnings for the company increased by 680 percent from INR 3.72 crore in FY23 to INR 29.05 crore in FY24. Operational revenues for the...Read more .

Panasonic Energy Reports 15.45% Revenue Growth In FY23-24

Panasonic Energy India Co. Ltd. (PECIN) a part of Panasonic Holdings Corporation today, announced the audited standalone results for the financial year ended on March 31, 2024. Panasonic reported revenue growth of 15.45% over the last financial year and a 198% increase in profit after...Read more .

Gensol Engineering Reports 310% Increase In Net Profit In Q4

Gensol Engineering today released its financial results for Q4 and also for the financial year. The renewable energy company has now reported a 310 percent increase in its net profit in Q4 on a Year-on-Year (basis).? The filings of the firm before the BSE said...Read more .

EV'S & STORAGE NEWS

Volkswagen Plans To Introduce Entry-Level EVs In Europe By 2027

German-based company, Volkswagen board of management of the Volkswagen Group decided to make all-electric entry-level mobility more widespread. Volkswagen Group brings electric cars for EUR 20,000 and its world premiere is planned for 2027. Oliver Blume, CEO of Volkswagen Group said: "Generations of people associate...Read more .

India’s EV Sector: OEMs Lead 70% of Deals In 2023, Says Report

According to a report by Bain and Company and Indian Venture and Alternate Capital Association, EV penetration in private equity and venture capital (PE-VC) is projected to rise from 6% in 2023 to 40% by 2030.? The report highlighted that 2023 followed the trend observed...Read more .

China To Spend $830 Mn For Solid-State Battery R&D: Report

China is planning to spend $830 million on all-solid-state battery R&D, reveals a report by Chinese Daily. Six companies, including CATL, BYD, China FAW Group, SAIC Motor Corp, Beijing WeLion New Energy Technology, and Geely Auto Group, will likely receive basic R&D support from the...Read more .