Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
The government on Tuesday said it has notified the Green Open Access Rules 2022 to further accelerate India's renewable energy programmes. These rules are notified for promoting generation, purchase and consumption of green energy including through waste-to-energy plants. It enables a simplified procedure for the open access to green power, the power ministry said in a statement.
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Climate change and US-India collaborations in renewable energy resources will be up for discussion at the US-India energy summit coinciding with Prime Minister Narendra Modi's visit to Washington, DC, later this month, reports Aziz Haniffa.
Billionaire Gautam Adani's group on Monday announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for an estimated over $2 billion in a first major deal since the US bribery indictment. In a statement, Adani Enterprises Ltd -- which held 43.94 per cent stake in Fortune brand cooking oil, wheat flour and other food product maker Adani Wilmar Ltd -- said it will sell 31.06 per cent stake to Wilmar International. About 13 per cent will be sold in the open market to meet minimum public shareholding requirements.
'The hacker replaced original emails and planted fraudulent emails with a request letter and invoices to be paid to fraudulent bank accounts.'
A steel workers union in the US has filed a trade case identifying "illegal" Chinese practices that threaten America's renewable energy sector and asked the Obama Administration to sue Beijing over its green energy subsidies, a demand swiftly supported by a key Senator.
'... there are challenges to overcome and the country needs money for that.'
When Gensol Engineering made its public market debut through a small and medium enterprises (SME) initial public offering (IPO) in September 2019, its promoters held a commanding 96 per cent stake. Now, that figure has shrunk to a "negligible" fraction.
A billion dollars in renewable energy is huge.
Climate activist Soman Wangchuk announced on Sunday that he will launch a 28-day fast on Independence Day if the government does not invite Ladakh authorities for talks on demands for statehood and constitutional protection for the union territory.
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
Billionaire Gautam Adani-led group's renewable energy firm on Thursday announced plans to raise Rs 12,300 crore through a share sale to investors as the group continues to build on a comeback strategy to emerge out of allegations of fraud levelled by a US short-seller. Adani Green Energy Ltd in a stock exchange filing said its board has approved raising up to Rs 12,300 crore through an issue of equity shares by way of qualified institutional placement (QIP). The funds are intended to be used for meeting capital needs of the company's expansion plans.
The head of the UN's climate science panel, Jim Skea, has expressed concern over the accelerating pace of climate impacts, saying scientists have been surprised by the speed of temperature rise. Skea attributed the worsening situation to inaction on climate change and highlighted the need for urgent action to reduce greenhouse gas emissions. He also addressed concerns about the scientific messaging and the perception of imposed climate policies, emphasizing the importance of involving societies and people in climate change action.
In seeking visa approvals for engineers from China, the company has reasoned that India lacks the expertise to set up such a solar facility.
'...it should not delude itself into thinking that India's security or its great-power ambitions will be advanced by those partnerships.'
'Instead, what India should focus on is on riding out the next three-and-a-half years of Trump's presidency with minimal damage to itself.'
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, plans to raise $409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019.
Aiming at reduction of carbon emission by using clean energy, Indian Railways has embarked upon a renewable energy action plan as part of the national policy to address the impact of climate change.
The Energy Efficiency and Renewable Energy (EERE), US Department of Energy, is in talks with several Indian government departments for creating a bio-mass roadmap for India similar to the one being planned with China.
Retail investors have been the hardest hit in the recent market downturn, with stocks where they hold over 20% falling 45% from their 52-week highs.
Noting India's need to raise power generation capacity to four lakh MW by 2030, President A P J Abdul Kalam on Wednesday sought 'intensive cooperation' with the European Union in the field of energy, including nuclear, to help achieve the goal.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
During the September quarter (Q2FY25), Hindustan Zinc's (HZL's) revenue was reported at Rs 8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus. Operating profit stood at Rs 4,100 crore (up 31 per cent Y-o-Y and 5 per cent Q-o-Q), also a small beat. The operating profit margin was 50 per cent, up from 48.5 per cent in Q1FY25.
US-based boutique investment firm GQG Partners and other investors have bought close to $1 billion worth of stocks in Adani group's two firms from the founding family in large block trades. The group's flagship Adani Enterprises Ltd saw 18 million shares, or 1.6 per cent, trade in a single block while the renewable energy firm Adani Green Energy saw a total 35.2 million shares, or 2.2 per cent, change hands, sources aware of the matter said.
United States Congressman Jim McDermott has introduced major new legislation to, in his words, "unite the two great democracies of India and the United States together in development of new and renewable energy supplies". The legislation seeks to establish a Congressional Commission on Renewable Power Technology Commerce with India to study methods for improving and promoting bilateral renewable energy cooperation with India.
US had made similar complaint against India in February.
'There is no linkage as far as the Indian power-generating business is concerned.'
Reliance Jio, the telecom business of the Mukesh Ambani-promoted conglomerate, is expected to go for an initial public offering (IPO) of over $6.25 billion either in the second or the third quarter of the calendar year 2025, sources said. Reliance Retail is likely to be listed around the same time with a short gap, it is learnt. The timing of the two IPOs, however, will depend on the company's assessment of the market conditions among other factors.
The plan includes close to 6,000-Mw capacity to be set up by NTPC alone.
President Francois Hollande on Friday pitched for French excellence finding its 'rightful place' in the fields of civil nuclear and renewable energy in India, even as he assured investors here that the euro zone crisis was 'behind us'.
The Pakistan army's Bahawalpur Corps has always had a special significance for India as it keeps an eye on the Jaish e Mohammed, explains Rana Banerji, who headed the Pakistan desk at RA&W.
Bullish on the renewable energy sector, Vestas RRB India Ltd on Monday said it plans to pump in Rs 100 crore (Rs 1 billion) over the next two years to expand its manufacturing facilities in a bid to become the largest wind energy company in the count
The government said on Thursday that it will not allow 'red-tape' in the new energy sector and was working to do away with difficulties faced by industry in the field.
The country received $ 6bn in clean energy investment in 2013, out of a total of USD 62bn from 2006 to 2013.
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
Experts hail Obama's India trip as a big step towards signing of imp trade agreements.
With general government debt now approaching three-quarters of GDP, and only incremental reform efforts visible, Pakistan risks prolonging its economic stagnation unless fundamental governance, regulatory, and industrial overhauls are undertaken.
India's most valued company, Reliance Industries Ltd (RIL), reported a robust performance in the third quarter of the current financial year (Q3FY25), surpassing analyst expectations. This coupled with positive commentary by brokerages led to the stock of the oil-to-telecom conglomerate surging as much as 4.44 per cent to hit an intraday high of Rs 1,325.1. It settled at Rs 1,301.3 apiece, up 2.57 per cent.
