EV Charging Startup Exponent Energy Raises $13 Million in Series A Funding Round

EV Charging Startup Exponent Energy Raises $13 Million in Series A Funding Round

Electric vehicle (EV) charging startup Exponent Energy secured $13 million in its Series A funding round. The funding round led by Lightspeed Venture Partners saw participation from existing investors like ...
Kinetic Engineering to Form ₹250 Million Electric Vehicle Subsidiary

Kinetic Engineering to Form ₹250 Million Electric Vehicle Subsidiary

Kinetic Engineering (KEL), the flagship company of the Kinetic Group, announced the formation of a subsidiary company focusing on the electric vehicle (EV) segment. The company will own more than ...
/ / Electric Vehicles, Grid
Power Exchanges Allowed Time to Implement Clearing and Settlement Mechanism

Power Exchanges Allowed Time to Implement Clearing and Settlement Mechanism

The Central Electricity Regulatory Commission (CERC) has granted time for one more year from August 15, 2022, for power exchanges to align their clearing and settlement system to the Payment ...
/ / Grid, Market & Policy
Open Access Consumers in West Bengal to Pay Wheeling Charges of ₹0.99kWh for FY23

Open Access Consumers in West Bengal to Pay Wheeling Charges of ₹0.99/kWh for FY23

West Bengal Electricity Regulatory Commission (WBERC) has directed open access consumers to pay ₹0.99 (~$0.012)/kWh as wheeling charges to West Bengal State Electricity Distribution Company (WBSEDCL) for the use of ...
/ / Grid, Market & Policy
Additional Surcharge for Open Access Power Consumers in Punjab Reduced to ₹1.10/kWh

Additional Surcharge for Open Access Power Consumers in Punjab Reduced to ₹1.10/kWh

The Punjab State Electricity Regulatory Commission (PSERC) has set an additional surcharge of ₹1.10 (~$0.014)/kWh for full open access consumers and partial open access consumers beyond their contract demand within ...
/ / Grid, Market & Policy
25 State Power Utilities Downgraded in Annual DISCOM Ratings

25 State Power Utilities Downgraded in Annual DISCOM Ratings

The Ministry of Power has released its tenth annual integrated ratings for the state distribution companies (DISCOMs) for the financial year (FY) 2022. Out of the 71 DISCOMs covered, six ...
/ / Grid, Market & Policy
GIB Issue Undergrounding 66 kV Transmission Lines for Power Evacuation Not Feasible

GIB Issue: Undergrounding 66 kV Transmission Lines for Power Evacuation Not Feasible

The Technical Expert Committee constituted to lay down the techno-economic norms on undergrounding of power lines has determined that undergrounding of transmission lines of 66 kV and above voltage levels ...
/ / Grid, T&D
REC Approves ₹220 Billion for DISCOMs to Clear Dues to Power Generators

REC Approves ₹220 Billion for DISCOMs to Clear Dues to Power Generators

REC Limited, a public infrastructure finance company, has approved ₹220 billion (~$2.78 billion) for the power utilities of Jharkhand, Rajasthan, Chhattisgarh, and Jammu & Kashmir to clear their outstanding dues ...
/ / Grid, Market & Policy
Ministry Mulls Introducing High Price Day-Ahead Market in Power Exchanges

Ministry Mulls Introducing High Price Day-Ahead Market in Power Exchanges

The Ministry of Power (MoP) has proposed the introduction of a high price market segment for the day ahead market (HPDAM). The stakeholders have time until August 21, 2022, to ...
/ / Grid, Market & Policy
$26 Million for Projects Demonstrating Grid Reliability With Clean Energy Integration

$26 Million for Projects Demonstrating Grid Reliability With Clean Energy Integration

The U.S. Department of Energy (DOE) has announced $26 million to fund projects demonstrating that America's electricity grid can reliably run with a mix of solar, wind, energy storage, and ...
Tata Motors to Deploy 1,180 Electric Buses in Kolkata

Tata Motors to Deploy 1,180 Electric Buses in Kolkata

The West Bengal Transport Corporation (WBTC) has granted a letter of award (LoA) to Tata Motors to deploy 1,180 electric buses as part of the Grand Challenge initiative of Convergence ...
/ / Electric Vehicles, Grid
Consultants Invited to Study Transport Sector Decarbonization in the Arab Region

Consultants Invited to Study Transport Sector Decarbonization in the Arab Region

The Regional Center for Renewable Energy and Energy Efficiency (RCREEE), the official technical arm of the League of Arab States, has invited bids to select a consultant to conduct a study ...
/ / Electric Vehicles, Grid
DISCOM Dues to Renewable Generators Inch Up to ₹237 Billion in July

DISCOM Dues to Renewable Generators Inch Up to ₹237 Billion in July

Distribution companies (DISCOMs) owed renewable energy generators ₹237.06 billion (~$3 billion) in overdue payments (excluding disputed amounts) at the end of July, according to Ministry of Power data. The figure ...
/ / Grid, Market & Policy
Tender Issued to set up 80 Electric Vehicle Chargers Across India

Tender Issued to set up 80 Electric Vehicle Chargers Across India

Convergence Energy Services (CESL), a wholly-owned subsidiary of Energy Efficiency Services (EESL), has invited bids to select vendors for location survey, planning, design, engineering, supply, installation, testing, and commissioning of ...
iVOOMi to Invest ₹2 Billion in Electric Two-Wheeler Manufacturing

iVOOMi to Invest ₹2 Billion in Electric Two-Wheeler Manufacturing

Electric two-wheeler maker iVOOMi Energy has announced an investment of  ₹2 billion (~$25 million) in electric two-wheeler manufacturing and related research and development. The manufacturing facility will come up in ...
US Announces $96 Million Funding to Expand EV Charging Access

US Announces $96 Million Funding to Expand EV Charging Access

To help the decarbonization of the domestic transportation sector, the U.S. Department of Energy (DOE) has announced a funding of $96 million to expand electric vehicle (EV) charging accessibility and ...
Bounce Infinity Launches its Electric Two-Wheelers on Flipkart

Bounce Infinity Launches its Electric Two-Wheelers on Flipkart

Bounce Infinity, the electric vehicle (EV) manufacturing arm of Bounce announced the launch of electric two-wheelers on the e-commerce marketplace Flipkart. This is a joint effort to offer a seamless ...
Haryana to Procure 150 MW of Renewable Power with Assured Peak Power Supply

Haryana to Procure 150 MW of Renewable Power with Assured Peak Power Supply

The Haryana Electricity Regulatory Commission (HERC) recently allowed  Haryana Power Purchase Center (HPPC) to procure 150 MW of renewable power with a guaranteed peak power supply from the Solar Energy ...
Tesla Financial results

Tesla’s Revenue Up by 42% YoY to $16.93 Billion in Q2 2022

Tesla registered a revenue of $16.93 billion in the first quarter of 2022, an increase of 42% year-over-year (YoY) compared to $11.96 billion during the same period last year. In ...
Hybrid Projects Can Ensure Higher Grid Stability and Solve Intermittency Issues

Hybrid Projects Can Ensure Higher Grid Stability and Solve Intermittency Issues

The intermittent nature of standalone wind and solar power sources has made wind-solar hybrid projects more attractive as they provide a longer-duration power supply and maximize resources. The renewable industry ...
/ / Grid, Market & Policy
Ola to Set up $500 Million Battery Innovation Center in Bangalore

Ola to Set up $500 Million Battery Innovation Center in Bengaluru

Bengaluru-based electric vehicle (EV) manufacturer Ola Electric announced that it will invest $500 million in setting up a state-of-the-art Battery Innovation Center (BIC) in Bengaluru. According to the company, the ...
Global Demand for EV Batteries to Rise to 3,500 GWh by 2030 IEA

Global Demand for EV Batteries to Rise to 3,500 GWh by 2030: IEA

Demand for electric vehicle (EV) batteries will increase from the current 340 GWh to over 3,500 GWh by 2030. The findings were published in the International Energy Agency’s (IEA) report, ...
Solar EPC Company Gensol to Acquire Majority Stake in US-based EV Startup

Solar EPC Company Gensol to Acquire Majority Stake in US-based EV Startup

Solar engineering, procurement, and construction (EPC) company Gensol signed a term sheet to acquire a majority stake in a U.S.-based electric vehicle (EV) manufacturing startup. Through the deal, Gensol is ...
British International Investment Announces $250 Million for Mahindra's EV Venture

British International Investment Announces $250 Million for Mahindra’s EV Venture

British International Investment (formerly CDC Group), a U.K. government-owned development finance institution, will invest up to $250 million in a new passenger electric vehicle (EV) venture to be launched by ...
Transport Aggregators in Delhi Must Transition to All-Electric Fleets by April 1, 2030

Transport Aggregators in Delhi Must Transition to All-Electric Fleets by April 1, 2030

Delhi's Transport Department has ordered all ride-hailing and delivery aggregators in the National Capital Territory to switch their entire fleet to electric by April 1, 2030. According to the notification, ...