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 (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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
$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
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 ...
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 ...
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 ...
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
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
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, 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
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’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
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 ...
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
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 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 (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
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, ...
