Industry Updates - SmartEnergy

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...

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...

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...

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...

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...

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 ...

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...

ETO Motors in Collaboration with Delhi Metro Deploys 45 Electric 3-Wheelers at Kalkaji Metro Station

30Apr

By Editorial TeamNo Comments

EV Industry Updates, EV Updates, Industry Updates, Must Read

ETO Motors in Collaboration with Delhi Metro Deploys 45 Electric 3-Wheelers at Kalkaji Metro Station

In line with India’s net zero pledge and to enable sustainable growth, ETO Motors, India’s leading EMaaS (Electric Mobility as a Service) Company with its unique 360-degree Electric Mobility business model, has launched 45 electric L5 three-wheelers with women driver partners at Kalkaji metro station in New Delhi. The initiative is in line with ETOs core principle of EMPOWERMENT and aims to promote their ‘drive and own’ scheme. This is ETO’s second launch in the city, they have successfully launched 36 E3Ws at Azadpur Metro Station for LMC service in December 2022.ETO has also set up a charging network through ETOs EV charging solution – Thunderbox at the Kalkaji metro station, which can simultaneously charge up to 30 vehicles at a time. Commenting on the launch, Mr Pavan Chavali, Mana...

Havells India Introduces Revolutionary Solid State Circuit Breaker (SSCB) Technology in Association with Swedish Tech Start Up – BLIXT

30Apr

By Editorial TeamNo Comments

Industry Updates

Havells India Introduces Revolutionary Solid State Circuit Breaker (SSCB) Technology in Association with Swedish Tech Start Up – BLIXT

Havells India Limited has taken a strategic step towards revolutionizing the Indian electrical industry with its recent commercial agreement signing with Sweden tech start-up BLIXT. By introducing revolutionary solid-state circuit breakers (SSCB) in Indian Sub-continent, Havells is strengthening its position as a leading switchgear company in the region. The move highlights Havells' focus on innovative and future-ready solutions that meet sustainability standards in a rapidly transforming industry. India's demand for high-power applications is expected to grow faster than any other nation in the coming decades, and the power system is projected to become technologically superior, smart, and conducive to IT-enabled data sharing and management technology. SSCBs, with their...

Prozeal Infra Gets First Round of Funding from Alchemie Ventures

30Apr

By Editorial TeamNo Comments

Industry Updates, RE Industry Updates, RE Updates

Prozeal Infra Gets First Round of Funding from Alchemie Ventures

Prozeal Infra Engineering Pvt. Ltd. has announced their first round of funding led by Chandrakant Gogri's family office arm – Alchemie Ventures. The $4 Million (approx. INR 32.5 Crore) investment is for a minority stake at an undisclosed valuation. The funds will be used to scale operations and execute developer-model projects for energy and utility companies. Incorp Advisory was the exclusive investment banker for the transaction, which represents the largest Series-A fundraising transaction in India's Solar EPC space in over 2 years. Prozeal Infra is a home-grown venture founded by two Ahmedabad-based co-founders. The company already has an order book worth INR 1,000 crore ($120 million) that will be fulfilled over t...