Moser Baer Solar is a subsidiary of optical storage media maker Moser Baer India Ltd (MBIL), which is also facing liquidation The National Company Law Tribunal (NCLT) has directed Moser Baer Solar Ltd to go under liquidation, as the debt-ridden company failed to get any resolution plan from any firm within the mandated 270 days. […]
Germany’s Siemens says to cut 2,700 jobs worldwide
Industrial conglomerate Siemens said Tuesday it would slash 2,700 jobs worldwide at its gas and power unit, including 1,400 in its home country Germany, “over several years”. The division — set for an independent stock market flotation in 2020 — will “require further savings of 500 million euros” ($560 million), Siemens said in a statement. […]
First pilot floating solar plant to be completed in next 2-3 months: Vedanta
In an investor brief, the company said it is focussing on renewable energy and its group firm Hindustan Zinc plans its “first pilot floating solar to be completed in next 2-3 months”. Vedanta on June 17 said its first pilot floating solar plant will be completed in the next two to three months. In an […]
Yashovardhan Birla declared willful defaulter by UCO Bank
UCO Bank on Sunday declared Yashovardhan Birla, the Director of Birla Surya Ltd, as a willful defaulter after the company failed to repay loans of Rs 67.65 crore. Yashovardhan Birla is also the Chairman of the Yash Birla Group. In a public notice which also carried a photo of Yashovardhan Birla, UCO Bank said the […]
NITI Aayog’s electric mobility proposal irks India’s auto industry
CII has expressed concerns over the timing of the move and the haste with which the government is pushing through electric mobility Government think-tank NITI Aayog’s proposal calling for replacement of various categories of vehicles by electric vehicles (EVs) within a certain time has irked India’s auto industry and prompted the Confederation of India Industry […]
BHEL bags three orders worth Rs 520 cr to set up solar plants in Maha, Guj
Shares of BHEL were trading 0.44 per cent higher at Rs 68.55 apiece on BSE State-run Bharat Heavy Electricals Ltd (BHEL) Monday said it has won three orders worth Rs 520 crore for setting up solar photovoltaic (SPV) power plants with a combined capacity of 135 mega watt (MW) in Maharashtra and Gujarat. “Cumulatively valued […]
Mahindra Electric expects to double EV sales in FY20 too
Mahindra Electric, a part of the Mahindra group, Tuesday said it expects to continue with the sales momentum of the last fiscal in which it doubled sales on the back of its focus on electric vehicles for fleet operators and three-wheelers. The company, which saw electric vehicles sales grow two-and-a-half times to 10,276 units in […]
ReNew Power likely to raise funds by selling assets after dropping IPO plan
The company isn’t alone in withdrawing plans for an IPO or considering an infrastructure investment trust India’s largest green energy company, ReNew Power, is considering raising funds through asset sales, after shelving plans for an initial public offering (IPO). Backed by Goldman Sachs Group, the company has renewable assets of over 7 gigawatts, of which […]
EV journey to begin with hybrid technology in India: Honda
This will drastically reduce the ‘well to wheel’ emissions in the future Japanese auto major Honda will use hybrid vehicles as intermediates in the next two years in India before going for full electric vehicles (EVs) as it expects setting up of supporting infrastructure such as charging stations to take time, according to a senior […]
Companies seek carbon tax from U.S. Congress
Representatives from more than 70 companies met with U.S. lawmakers on Wednesday to push for a tax on carbon emissions to fight climate change, and a senator said bipartisan legislation containing such a plan could be introduced in weeks. The gathering, which included PepsiCo, Johnson & Johnson, Tesla and General Mills, was the largest business […]
