GlobalFoundries, Biden Admin Announces $1.5 Bn Funding For CHIPS & Science Act Updated On Tue, Feb 20th, 2024 by Saurenergy The US Department of Commerce recently announced $1.5 billion in planned direct funding for GlobalFoundries (GF) as part of the US CHIPS and Science Act. GF claims to expand and create new manufacturing capacity through this investment. It estimates to expand it capabilities and securely produce more essential chips for automotive, IoT, aerospace, defense, and […] Read more
Environmental Reason Behind Shift to EVs, Buyers In India Worried About Charging Time: Report Updated On Tue, Feb 20th, 2024 by Saurenergy The latest Global Automotive Consumer Study by Deloitte shows that when it comes to the usage of electric vehicles battery-related concerns persist higher among Indian consumers. The study showed that around 43 percent of car buyers in India say the time required to charge an electric vehicle is one of the greatest concerns regarding EVs. […] Read more
Sembcorp RE Acquisition In China, India Rose By 42% YoY In 2023 Updated On Tue, Feb 20th, 2024 by Saurenergy Singapore-based Sembcorp Industries (Sembcorp) recently posted a strong performance for the year of 2023 (FY2023). They recently announced that they made a turnover of S$7.0 billion compared to S$7.8 billion in FY2022. Sembcorp said, “The group net profit before exceptional items (EI) grew 38% year-on-year to S$1.0 billion from S$739 million in FY2022, with higher […] Read more
Vattenfall Inks Deal With Evonik To Supply Solar Power For Chemical Production in Germany Updated On Mon, Feb 19th, 2024 by Saurenergy Germany-based energy supplier company Vattenfall has signed a PPA with specialty chemicals company Evonik that concluded new long-term electricity supply contracts. From 2025, two Vattenfall solar parks in Schleswig-Holstein will supply Evonik with around 120 gigawatt hours of solar power per year for chemical production. The contracts have a term of ten years and fixed […] Read more
World Bank Allocates $300 Mn For RE Projects in Eastern & Southern Africa Updated On Fri, Feb 16th, 2024 by Saurenergy The World Bank has extended a facility of close to $300 million to the Eastern and Southern African Trade and Development Bank (TDB), to support distributed renewable energy (DRE) and clean cooking private sector projects in eligible countries of the World Bank’s International Development Association (IDA) that are TDB member states. This new facility follows […] Read more
Renewable Investments In Africa Need To Grow 5 Times: Report Updated On Tue, Feb 13th, 2024 by Saurenergy A new report by think tank Climate Analytics finds $8 trillion of investment is needed for new renewables and $4 trillion for grid and storage infrastructure to deliver the 2030 tripling goal agreed at COP28 – or combined, $2 trillion a year on average. Using climate finance to mobilise $100 billion a year for the […] Read more
Nextracker, Sterling and Wilson In 2 GW Pact For Trackers In India Updated On Mon, Feb 12th, 2024 by Saurenergy US based global tracker leader Nextracker has announced it has won a repeat order from Sterling and Wilson Renewable Energy for Phase 2 and Phase 3 solar projects of NTPC at Khavda, Gujarat. The projects, for an aggregate size of 1.5GWdc (Phase 2) and 375MWdc (Phase 3) will be using Nextracker’s NX Horizon Solar Trackers. […] Read more
Top 5 Challenges for Solar Financing in India Updated On Mon, Feb 12th, 2024 by Saurenergy While the tide has clearly turned in favour of more and better financing for solar, it’s instructive to understand just why it was not happening till now. We listed down all the top reason cited by financiers, to build this list of top 5. Understanding Solar. A key issue is the limited understanding of solar […] Read more
Sunsure Energy Inducts Veterans Manoj Kohli And Mahesh Makhija to its Board of Directors Updated On Fri, Feb 9th, 2024 by Saurenergy Sunsure Energy, C&I-focused independent renewable energy power producers, inducts Manoj Kohli and Mahesh Makhija to its Board of Directors, stated a press release by Sunsure Energy. The recent appointments of Kohli and Makhija represent a strategic enhancement to the company’s Board of Directors. With Manoj Kohli’s extensive experience spanning 45 years in diverse global markets, […] Read more
