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Mahindra & Mahindra has announced the incorporation of Steer Hybren, a new renewable energy subsidiary focused on solar power, energy storage, and distributed energy solutions. This strategic move will help drive India’s transition to sustainable energy, offering innovative clean energy solutions across commercial, industrial, and residential sectors.
H.G. Infra Engineering has been awarded a key portion of Gujarat's 500 MW/1000 MWh battery energy storage project, enhancing grid stability and supporting renewable energy integration. This win marks a significant step in the company’s expansion into the clean energy sector, contributing to India’s sustainability goals.
Power Mech Projects has secured a significant Rs 510 crore contract from Adani Power for the Raipur Phase II Ultra Supercritical Thermal Power Project. This order highlights the company's strong position in the infrastructure sector, with promising growth prospects backed by robust financial performance and strategic project wins.
Adani Group stocks experienced a major surge on Friday, with all 11 listed companies showing impressive gains. Leading the rally was Adani Green Energy, which jumped nearly 15%. This broad-based rally reflects growing investor optimism, particularly in the renewable energy sector, and highlights the strength of Adani's diversified portfolio across key industries like energy, cement, and infrastructure.
Vedanta is set to invest $2 billion in a copper-processing facility in Saudi Arabia, marking a significant move after challenges in India. This project will enhance Saudi Arabia’s mining sector, support global copper demand, and align with the kingdom’s Vision 2030 economic diversification plan.
Premier Energies' stock surged 4% following the announcement of Rs 1,087 crore in new orders for solar modules and cells from two major Independent Power Producers. With supply set to begin in January 2025, the company is poised for significant growth in the renewable energy sector.
Adani Group has posted impressive financial results for the first half of FY24, with a 17% growth in EBITDA and a strong liquidity position. With key acquisitions and reduced debt exposure, the conglomerate is strategically expanding in renewable energy, infrastructure, and utilities, positioning itself for sustained growth.
Shree Renuka Sugar Ltd. has fully exited its Mauritius-based subsidiary, Shree Renuka Global Ventures Ltd., by selling its remaining 17.1% stake to Freeway Trading Ltd. This strategic move follows an earlier divestment in 2019 and aligns with the company's focus on strengthening its core operations in India, including sugar production and ethanol manufacturing.
Tata Power has joined forces with the Asian Development Bank (ADB) to secure $4.25 billion in funding for clean energy projects in India. This partnership will support key initiatives like solar-wind hybrid systems, pumped hydro storage, and infrastructure upgrades, helping India accelerate its transition to renewable energy and achieve its ambitious sustainability targets.
Tata Power has entered a strategic partnership with Druk Green Corporation to develop 5,000 MW of clean energy in Bhutan, including hydropower and solar projects. This collaboration aligns with Bhutan's goal of increasing its energy capacity and promoting regional energy security through sustainable sources.