News Brief May 13 - Vesper Energy, Meta Solar Deal, UK Solar Farm

Alpex Solar bags govt orders worth Rs. 11.90 crore in Jharkhand under the PM-KUSUM scheme

Alpex Solar says it has received orders for supply, installation and commissioning of 500 Solar Water Pumping Systems from Jharkhand Renewable Energy Development Agency. The Projects are scheduled to be completed within 120 days from the date of issue of work order.

In March this year, Greater Noida-based Alpex Solar also bagged multiple orders worth Rs 43.70 crore in Haryana under the PM-KUSUM scheme. The company is also empaneled and approved for the installation of solar water pumps in the state of Rajasthan.

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SolarEdge Acquires EV Charging Management Startup Wevo Energy

Israel based SolarEdge Technologies, a smart energy technology company, recently announced the complete acquisition of the entire share capital of Wevo Energy Ltd, a software startup specializing in electric vehicle (EV) charging. They collaborated for the optimization and management for sites with large quantities of EV chargers such as apartment buildings, workplace carparks and public charging locations.

Wevo’s software is designed to be vendor agnostic and supports industry leading open protocols, enabling multi-user pricing and billing, tiered prioritization of charging schedules, predictive load management, and a range of additional services.

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Ford Builds EV Manufacturing & Assembly Plant in Ontario

US-based automobile company Ford Motor announced plans to launch its upcoming electric vehicles in Oakville, Ontario. The company plans to build its assembly plant while continuing to build its industrial system to produce its electric vehicles, including greenfield construction and conversion of existing assembly plants.

These initiatives support the development of a differentiated and profitably growing EV business over time while Ford serves customers with the right mix of gas, hybrid, and electric vehicles based on demand today. In parallel, Ford is expanding its hybrid electric vehicle offerings. By the end of the decade, the company expects to offer hybrid powertrains across its entire Ford Blue lineup in North America. In the first quarter of 2024, Ford’s electric vehicle sales increased by 86% and hybrid sales rose 42% versus a year ago.

Meyer Burger raises US$228 million in share rights issue

Switzerland based solar manufacturer Meyer Burger has raised CHF206.75 million (US$228 million) following the closure of its rights offering. The funds are likely to be used to be used for its upcoming facilities in the US to build 2 GW of modules, and  2 GW cell manufacturing facility . The company has shifted focus to HJT (Heterojunction Technology) modules for its next phase of growth.