Sunday, December 22

Industry Updates

Luminous Power Technologies launches Innovative Icon and High Capacity Inverter Range
16May By Editorial TeamNo Comments
Industry Updates, Must Read, RE Industry Updates, Uncategorised

Luminous Power Technologies launches Innovative Icon and High Capacity Inverter Range

Luminous Power Technologies, a well-entrenched and a trusted brand in power backup and residential solar space unveiled an all-new range of futuristic products for the coming summers. This comes in the wake of company’s concerted efforts to delight customers with smart, safe, energy-efficient and sustainable products. This was disclosed by Mr Amit Shukla, Senior Vice President – Energy Solutions Business, Luminous Power Technologies today at the launch event in Mumbai. Speaking on the occasion, Mr Shukla said, “Luminous has been at the forefront of offering power backup solutions for last 35 years. We have been pioneering, illuminating and delighting over 100 millions happy homes with our products that are tech-savvy, aesthetically designed and sustainable. Raising our bar th...
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ACME Group and Indraprastha Gas Limited sign MoU to explore the potential business opportunities  of Green Hydrogen
15May By Editorial TeamNo Comments
GH2 Industry Updates, GH2 Updates, Industry Updates, Must Read

ACME Group and Indraprastha Gas Limited sign MoU to explore the potential business opportunities  of Green Hydrogen

Diversified renewable energy company ACME Group and leading City Gas Distribution Company IGL signed a memorandum of understanding (MoU) to jointly explore the potential business opportunities of Green Hydrogen. The MoU was signed by Mr. Ashwani Dudeja (President & Director - Green Hydrogen and Ammonia, ACME) and Mr. Sanjeev Kumar Bhatia (Vice President - Business Development & Gas Sourcing, IGL) in presence of senior officials of both the companies. ACME and IGL will work jointly to promote the adoption by the customers and create demand for Green Hydrogen in the country. The Companies will also work together to explore the opportunity of setting up hydrogen generation plants including setting up electrolyzers to blend Green Hydrogen in IGL’s existing pipeline networks su...
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Schaeffler India receives Rs 2,700 crore order for its electric axle for EVs
15May By Editorial TeamNo Comments
EV Industry Updates, EV Updates, Industry Updates

Schaeffler India receives Rs 2,700 crore order for its electric axle for EVs

Automotive and industrial parts maker Schaeffler India, part of the Euro 16 million Germany-based Schaeffler Group, has received a Rs 2700 (Euro 300 million) order for its two-in-one electric axles as the supplier transitions to electrification from internal combustion.  The order, is the company's first system-level solution offering in the electric vehicle space, Schaeffler India said over a recent earnings call. According to Harsha Kadam, Managing Director and CEO of Schaeffler India, the electric axle order is for the electric passenger vehicle with this customer for the next seven years.  “This is the pure electric solution that we are bringing to India now. The series production will start by the middle to second half of next year. In terms of volumes, it is going...
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Merck Lifescience enters into strategic contract with LP Logiscience, introduces EVs for transportation
15May By Editorial TeamNo Comments
EV Industry Updates, EV Updates, Industry Updates

Merck Lifescience enters into strategic contract with LP Logiscience, introduces EVs for transportation

Merck Lifescience has recently signed a strategic contract with LP Logiscience, the warehousing and contract logistic arm of the legendary Liladhar Passo group, which launched its first Electric vehicle for distribution. As part of the contract, LP Logiscience will use the EVs for distribution of finished goods from their Rasayani factory, to Merck Lifescience customers, across Mumbai. The contract is a part of Merck and LP Logiscience’s commitment to achieve mutual sustainability goals and to move towards carbon-neutral distribution services. The Inauguration of the EV vehicle happened in the presence of Andre‘ Overmeyer, Head of Global Plant Operations, Merck Lifescience, Bhushan Patil, Head, Country Procurement – India, South East Asia, and ANZ, Merck Lifesciene, Rashmi Iyer, Head o...
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REC CMD flags off first fleet of Electric vehicles; targets 100% EVs by 2024-25
15May By Editorial TeamNo Comments
EV Industry Updates, EV Updates, Industry Updates

REC CMD flags off first fleet of Electric vehicles; targets 100% EVs by 2024-25

REC Chairman and Managing Director Vivek Kumar Dewangan flagged off the first fleet of electric staff vehicles in Gurugram. In a path towards a green future, REC Ltd has set a target of replacement of all conventional staff vehicles with electric vehicles by 2024-25, a company statement said. "In a transition to EV mobility, Vivek Kumar Dewangan, Chairman & Managing Director (CMD), REC Limited flagged off the first fleet of Electric Vehicles (EV) on Thursday at REC World Headquarters, Gurgaon," it stated. Dewangan also inaugurated a fast charging station, which is powered by a rooftop 1 MW (approx) solar plant and therefore, the EV fleet will run on green power, contributing to zero pollution. The inauguration of the REC Control Room was also done by Dewangan, which is...
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M&M Welcomes Release of SoP for PLI Auto Scheme
15May By Editorial TeamNo Comments
EV Industry Updates, EV Updates, Industry Updates

M&M Welcomes Release of SoP for PLI Auto Scheme

The Ministry of Heavy Industries (MHI), Government of India, has released the Standard Operating Procedure (SOP) for certification of Domestic Value Addition (DVA) under the PLI-Auto Scheme.  The Production Linked Incentive (PLI) scheme aims to provide financial incentives to enable scale and build a reliable as well as strong supply chain in areas of Advanced Automotive Technology (AAT) products, while generating additional employment opportunities.  M&M is the Champion OEM in the PLI-Auto Scheme and is participating through its wide range of electric 3- and 4-wheelers.  Mahindra Last Mile Mobility (LMM), a division of Mahindra & Mahindra (M&M), has ended FY’23 as the No.1* electric 3-wheeler manufacturer. .The statement released says, M&M welcomes the release of th...
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Solar Ladder Raises 11 Crores in Seed Funding from Axilor Ventures, Titan Capital, DeVC, Stride Ventures and Angel Investors
15May By Editorial TeamNo Comments
Industry Updates, RE Industry Updates, RE Updates

Solar Ladder Raises 11 Crores in Seed Funding from Axilor Ventures, Titan Capital, DeVC, Stride Ventures and Angel Investors

Solar Ladder, a supply chain platform for Solar Installation companies announced it has raised 11 Crores in seed funding from Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and angels from Atha Group, NIPHA group, Varun Alagh (Founder, Mamaearth), Subin Mitra and Aditya Bandi of Groyyo, Deepak Jain (Partner, Bain and Co.) among others. The recently acquired funds will be utilized to distribute software that automates processes for solar installers, allowing them to expand their business tenfold and aims to become the go-to ecosystem for solar installation companies. Solar Ladder aims to establish a robust marketplace that enables cheaper procurement, provides short-term embedded credit and insurance products to meet installers' working capital requirements, and offers long-term...
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KKR to Invest Additional $250 million in  Serentica Renewables
15May By Editorial TeamNo Comments
Industry Updates, Must Read, RE Industry Updates, RE Updates

KKR to Invest Additional $250 million in  Serentica Renewables

In a move that reinforces its commitment towards Serentica Renwables, Private equity firm KKR has decided to invest an additional $250 million (about Rs 2,044 crore) in Serentica Renewables. This is an additional investment to one that the firm has already done in the month of Nov 2022. For bigginers, Serentica Renewable is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial & industrial segment which consumes more than 50% of the electricity generated in India. Serentica said in a statement released that it is now gearing up to install 4,000 MW of renewable energy capacity that will aid clean energy delivery to large-scale industrial customers. The company is already  developing solar and wind power projects across Ra...
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Avaada Energy Wins 560 Mw (Dc) Solar Project
30Apr By Editorial TeamNo Comments
Industry Updates, Must Read, RE Industry Updates

Avaada Energy Wins 560 Mw (Dc) Solar Project

Avaada Energy, an arm of Avaada Group – India's leading integrated energy enterprise with business interests across the energy transition value chain, has won the 560 MW (DC) Solar Project bid in e-Reverse auction conducted by MSEDCL. The project was awarded through competitive bidding, followed by an e-Reverse auction in which Avaada emerged as the winner with a quoted tariff of Rs. 2.88 / kWh (~$0.035). As per bid terms, PPA will be signed between two entities for 25 years, and the project will be commissioned within 18 months. The plant is expected to generate about 951 million units annually which will help reduce 8,85,563 tons of CO2 equivalent emissions annually. The solar project can potentially power ~7 lakh households with green energy. Speaking on this development, Vineet ...
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EKI Energy Services Ltd. is Now Great Place to Work®Certified
30Apr By Editorial TeamNo Comments
Industry Updates, RE Industry Updates, RE Updates

EKI Energy Services Ltd. is Now Great Place to Work®Certified

EKI Energy Services Ltd (EKI), a leading developer and supplier of carbon credits across the globe, today announced that it has been Great Place to Work®Certified (GPTW) in India, becoming the first top global carbon consulting company to gain the recognition. The certification is purely based on employees' experience of working at EKI and validates how EKI continues to progress in building a strong organisational culture that is aligned with its values. Mr. Manish Dabkara, Chairman & MD, EKI Energy Services Ltd. said, "We are extremely pleased with the recognition. At EKI, we have fostered an inclusive, productive and positive work environment that unites our employees and helps them set a clear direction. We strongly believe that building high-performing teams hinges on the cultu...
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