Kalpana Pathak

Zetwerk, a contract manufacturing company, intends to invest ₹500 crore over the next two years to enhance its renewable energy manufacturing capabilities. Cofounder and COO Srinath Ramakkrushnan revealed plans to venture into the offshore wind sector in the US and Europe and emphasized a significant focus on the solar sector in India and the US, driven by a goal of 500 GW solar energy capacity by 2030.

ONGC and BPCL are negotiating with Saudi Aramco to partner in setting up new petroleum refineries in India. BPCL plans to build a refinery in Andhra Pradesh, while ONGC is considering locations in Gujarat or Uttar Pradesh. Engineers India is preparing a pre-feasibility study for the projects, which will require significant international investment.

GFCL EV Products raised ₹1,000 crore at a ₹25,000 crore valuation to expand in the electric vehicle battery materials sector, targeting global opportunities and significant market demand.

Senvion India aims to increase its manufacturing capacity to 2 gigawatts by 2026 and invest ₹840 crore in research and development. The company recently introduced a 4.2 MW wind turbine and plans to expand operations in the European Union and Saudi Arabia. Senvion India, now profitable, seeks to compete in global markets with advanced wind turbine technology.

EMA Partners India plans to launch an IPO worth up to Rs 100 crore, making it the first executive search firm to be listed in the country. Proceeds will be used for leadership team augmentation, IT infrastructure upgrades, debt repayment, and potential acquisitions. EMA's net worth is Rs 70 crore with a significant profit increase as of March 2024.

Adani Total Gas (ATGL) is expanding its operations by entering the LNG for transport and mining segment, aiming to build a network of 50 LNG retail outlets. The company has already commissioned its first LNG station in Tamil Nadu, with plans to invest Rs 200-250 crore over the next three to five years.

Bangladesh's power board has issued a new letter of credit worth $173 million to Adani Power for continued electricity supply. This follows Adani's decision to reduce power supply by half due to unpaid dues exceeding $843 million. This marks the third LC provided by the Bangladesh Power Development Board to Adani Power to resolve the payment dispute.

The company priced the bond at 7.45% and the proceeds of the issue will be used to refinance existing loan facilities of the company. The pricing of these bonds is much higher than the 7% targeted by Adani Green in the issue that was pulled out ultimately on October 15. Bankers said the more expensive pricing reflects the rise in the benchmark US treasury yield since that date.

Tata Power and the Asian Development Bank have partnered to explore financing options for renewable energy projects in India. The collaboration aims to support India's clean energy transition by funding projects such as solar-wind hybrid systems and pumped hydro storage, totaling an estimated $4.25 billion.

JSW Energy plans to establish a wind turbine blade manufacturing facility in Karnataka. The plant will cater to the company's internal needs. JSW Energy aims to reduce reliance on imports and ensure a steady supply of wind turbine generators. The company has secured a technology licensing agreement with China's Sany Renewable Energy.