Fortum exits Indian solar market

India's pioneering bamboo biorefinery launches in March

Bhaskar Phukan, Managing Director, India's Numaligarh Refinery (NRL), announced that the company, a subsidiary of explorer Oil India, plans to commence ethanol production at its biorefinery in the northeastern state of Assam starting from March. India, the world's third-largest consumer and importer of oil, aims to reduce its crude oil consumption by transitioning to sustainable alternatives like biofuels. The country has set a goal to double the blending of ethanol with gasoline to 20% by 2025.

The Assam biorefinery, a project that cost NRL and its Finnish partners Chempolis and F..

GLIDA to invest Rs 1 bn by Mar 2024 for EV charging stations

GLIDA, the provider of electric vehicle charging infrastructure, announced on Wednesday that it intends to invest up to Rs 1 billion by March 2024 in order to increase the number of charging stations. The company, formerly known as Fortum Charge & Drive India, aims to raise its current total of 450 charging points to 1,000.

Awadhesh Kumar Jha, the Executive Director of GLIDA, stated that they are currently operational in 16 cities and have set a target to expand their presence to 52 cities by 2025. He also mentioned that the company plans to invest Rs 900 million-Rs 1 billion by..

Finnish financier to fund EV charging infra company Fortum

Finnish development financier Finnfund has invested in a minority share in public charging point operator (CPO) Fortum Charge and Drive India Private Limited (FCDIPL), which provides electric vehicles (EV) charging stations and solutions. Finnfund, an impact-investor funds development projects, and is expected to close this particular transaction by the end of 2020. FCDIPL, an exponentially growing infrastructure provider in the electronic-mobility sector, welcomes the deal as it will help them expedi..

Adani Energy Acquires Essar's Transmission Assets

Adani Energy has finalised the acquisition of Essar's Mahan and Sipat transmission assets for a sum of Rs 1900 crore. This significant move underscores Adani's strategic expansion within the energy sector and consolidates its position as a key player in India's power transmission domain.

The acquisition of Essar's transmission assets represents a strategic investment for Adani Energy, enabling the company to augment its infrastructure and bolster its transmission network. With the addition of these assets, Adani strengthens its operational footprint, enhancing its capacity to deliver r..

IEX Q4 Net Profit Grows 9.5%

The Indian Energy Exchange (IEX) has reported a significant uptick in its net profit for the fourth quarter, marking a notable growth of 9.5%. This financial performance underscores the resilience and strength of the company's business model in navigating through dynamic market conditions within the energy sector.

The impressive growth in net profit reflects IEX's robust operational performance and effective strategic initiatives aimed at enhancing efficiency and driving sustainable value creation. As a leading power trading platform in India, IEX plays a pivotal role in facilitating t..