Gensol Engineering has received the second tranche under greenshoe option allotment of 250 MW/500 MWh from Gujarat Urja Vikas Nigam (GUVNL) for standalone Battery Energy Storage Systems (BESS) project to reach 500 MW / 1000 MWh. The project including first and second tranche will generate a total revenue of Rs 2685 crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure.
Indian Oil Corporation has entered into a Joint Venture (JV) Agreement with GPS Renewables, one of the leading biofuels Companies in the country. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country. The JV will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels. By leveraging their combined expertise, Indian Oil Corporation and GPS Renewables aim to accelerate the deployment of CBG plants nationwide.
Gokaldas Exports (GEX) has agreed to invest in BRFL Textiles (BTPL) by subscribing through Optionally Convertible Debentures (OCD). In its first tranche, GEX will subscribe for Rs 50 crore, with the remaining OCDs worth up to Rs 300 crore to be subscribed subsequently in multiple tranches, depending on the funding requirements. These funds shall be utilized mainly to meet the working capital needs, with a smaller portion towards the capex requirements.
Yatra Online has acquired the 49% stake/securities (the Transaction) held by the other joint venture partner in Adventure and Nature Network (ANN) and vide the Share Purchase Agreement (SPA) executed on June 19, 2024. Consequent to completion of the Transaction on the closing date as mentioned in the SPA, the company’s shareholding in ANN will increase from 50% (pre-acquisition) to 99% (post-acquisition) and ANN will become a Subsidiary of the Company effective the closing date as captured in the SPA.
ABB India has collaborated with Witt India to set up smoke extraction motors in tunnels to augment safety. This collaboration aims to contribute towards infrastructure development ensuring safer and more efficient journey for commuters through India's road tunnels. Witt India specializes in tunnel ventilation systems. It has integrated ABB's smoke extraction motors in several key projects across the country, such as Rewa-Sidhi Tunnel in Madhya Pradesh and Kuthiran Tunnel Highway in Kerala.
Kaynes Technology India (KTIL) has incorporated a Wholly Owned Subsidiary (WOS) by name Kaynes Holding under the Laws of the Republic of Singapore on June 19, 2024. The main object of incorporation is to expand the business presence, including but not limited to, in the field of electronics system design and manufacturing, and also to facilitate/ undertake few strategic investments/ acquisitions.
Tanfac Industries has signed Framework agreement worth revenue of around $81 million (Rs 675 crore) over next 5 years with one of the leading Japanese Specialty Chemical companies to supply a refrigerant gas. The supply for this product will start from H2 FY2025-26.
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