Daily News Wrap-Up ReNew Power’s SPAC Deal to go Public Gets Regulatory Approval

Here are some noteworthy cleantech announcements of the day from around the world:

The Competition Commission of India has approved the exchange of equity shareholding by existing shareholders of ReNew Power with shares of ReNew Global, along with a reverse triangular merger of the subsidiary of ReNew Global with RMG II. The proposed combination envisages the exchange of equity shareholding by existing shareholders of ReNew Power with shares of ReNew Energy Global, along with a reverse triangular merger of a wholly-owned subsidiary of ReNew Global with RMG II.

Power Grid Corporation of India Limited has commissioned Monopole-I of the ± 320 kV, 2,000 MW, Pugalur, Tamil Nadu-Thrissur, Kerala, voltage source converter (VSC)-based high voltage direct current (HVDC) system. The project undertaken by the Maharatna central public sector undertaking is expected to strengthen the power system of the southern part of the country. The Pugalur-Thrissur HVDC system, costing ₹50.7 billion (~$695.27 million), is a part of the Raigarh-Pugalur-Thrissur 6,000 MW HVDC system and enables the transfer of 2,000 MW to Kerala through the voltage source converter HVDC station at Thrissur. POWERGRID has brought the VSC technology to India for the first time. The VSC technology significantly reduces the land requirement compared to the conventional HVDC systems and is particularly suitable for areas, where land is scarce.

Tata Motors has incorporated a new wholly-owned subsidiary – TML CV Mobility Solutions Limited. The authorized share capital of the new venture is ₹50 billion (~$6,856). TML CV Mobility Solutions Limited has been incorporated to provide end-to-end services of operating, repair, and maintenance, including annual maintenance contracts and fleet management services for the automotive segment, including electric buses and cars, fuel cell buses, and all other types of commercial vehicles.


Adani Enterprises Limited has incorporated Mundra Windtech Limited, a wholly-owned subsidiary. The authorized and paid-up share capital of the entity is ~₹100,000 (~$1371.35). The aim to incorporate the venture is to carry on business as manufacturers of wind turbine generators and other auxiliaries. The company has been incorporated in India and registered with the Registrar of Companies at Ahmedabad, Gujarat.

The Ministry of New and Renewable Energy has issued specifications and testing procedures for various off-grid solar applications covered under its programs. These terms are updated by the Ministry to incorporate innovations and technological improvements in such applications. The specifications and testing procedures for solar streetlights, SVP pumping systems, solar lamps, among others, are updated. Stakeholders have been asked to offer their suggestions on the matter.