News Briefs, April 18- Amazon Solar, IREDA, ib Vogt, Sapience Automata

IREDA’s Strategic Move: GIFT City Office to Boost Green Hydrogen and RE Manufacturing Projects

Indian Renewable Energy Development Agency Ltd. (IREDA) has inaugurated an office in GIFT City, Gandhinagar, specializing in the provision of Foreign Currency-denominated debt options which will significantly reduce the financing costs associated with Green Hydrogen and Renewable Energy Manufacturing projects, facilitating natural hedging. The strategic initiative was highlighted by  Pradip Kumar Das, Chairman & Managing Director of IREDA during a panel discussion on “Future Growth Opportunities for Long Duration Energy Storage” at the World Future Energy Summit 2024 in Abu Dhabi.

GRS strengthens its presence in Australia with an additional 125 MW Solar Project

Gransolar’s EPC contractor, in partnership with Vena Energy, has launched commercial operations of the solar farm in Queensland

The 125 MW Amazon Solar Project – Wandoan, built by Gransolar Construction Australia with Vena Energy, is part of an ambitious 1 GW multistaged renewable energy development, in the Western Downs local government area, the Wandoan South Project.

ib vogt and Apple sign PPA for 105 MWac Solar Capacity in Spain

International renewable energy development platform ib vogt has signed a Power Purchase Agreement (PPA) with Apple to provide solar power with a capacity of 105 MWac from a project in the province of Segovia, Spain. The PV plant, also known as Castaño Solar, is one of three projects with pay-as-produced fixed price PPAs that ib vogt is currently constructing in the province and is expected to be fully operational in December of 2024.

GPS Renewables raises USD 50 Million in debt financing

GPS Renewables, India’s premier Full Stack Technology & Engineering company dedicated to clean fuels, has raised USD 50 Million (Rs 411.50 Crores) in debt financing from leading private, public sector banks, and prominent NBFCs. Participating institutions in the current financing round include Punjab National Bank, HDFC, Yes Bank, HSBC Bank, Kotak Mahindra Bank, ICICI Bank, Citibank, Vivriti Capital, Northern Arc, Spark Capital, Tata Capital and SIDBI.

Sapience Automata raises INR 1.75 CR in Seed Round led by Inflection Point Ventures

AI powered driver assistance technology startup Sapience Automata has raised Rs 1.75 CR in a Seed Round led by Inflection Point Ventures. The funds will be utilized for growing sales for Driver camera, building key partnerships in the automotive domain, continuing to develop Advanced driver-assistance systems (ADAS) technology, and filing international patents.

Sapience Automata, founded in 2021, is a startup focused on revolutionizing road safety in India through plug-and-play driver assistance technology. Their goal is to eliminate accidents by leveraging advanced AI and autonomous driving tech.