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CleanMax shares soar 15% to record high on Meta partnership
CleanMax Enviro Energy Solutions shares surged 15% to a 52-week high after announcing a 900 MW renewable energy partnership with Meta Platforms. The projects include solar and wind assets, with Meta purchasing 100% of environmental attributes. The deal strengthens Meta’s clean energy goals and reinforces CleanMax’s position in India’s C&I renewable energy market, backed by strong long-term customer contracts.
CleanMax and Meta announce 900 MW renewable energy deal
Meta Platforms, Inc. (NASDAQ: META) and Clean Max Enviro Energy Solutions (CleanMax) have announced a ~900 MW renewable energy partnership in India. Together, the companies will support the development of 837 MW of new solar and wind capacity across Rajasthan and Karnataka. Combined with previously announced projects, the partnership now represents more than 900 MW of renewable energy capacity.
Stocks to Watch today: IndiGo, Afcons, Bharti Hexacom, JSW Infra, NTPC
Stocks to Watch today: IndiGo, SpiceJet, Afcons infra, JSW Infra, Bharti Hexacom, NTPC Green Energy, NTPC, NLC India, FirstCry, JW Steel, HDFC Bank, among others, will in focus today.
The curious case of Rajesh Mehta’s ‘ ₹50,000 crore’ battery business
An investment of ₹1,250 crore by the three funds over three years explains the steep valuation of Elest, a company that has no operations but has agreed to supply land, machinery and technology for ACC Energy Storage Pvt. Ltd, the battery business of publicly listed Rajesh Exports
Battery tech startup Exponent Energy raises ₹200 cr in Series B extension
Exponent Energy has raised ₹200 crore in a Series B extension co-led by 360 ONE and TDK Ventures to expand its EV fast-charging network, retrofit business, and highway infrastructure for commercial vehicles.
Adani Energy to buy IntelliSmart for ₹3,050 crore
Adani Energy Solutions (AESL) is set to acquire smart metering company IntelliSmart Infrastructure for ₹3,050 crore, bolstering its position as India's largest smart metering platform with over 47 million meters. This strategic move aligns with India's ambitious plan to replace 250 million conventional electricity meters with smart meters to modernize the power distribution ecosystem and reduce losses.
Companies seek lifting of curbs on gas pipeline integration
Indian energy firms want the Petroleum and Natural Gas Regulatory Board to allow pipeline connections. This could free up nearly 10% of domestic gas output. Around 14 million cubic metres of gas from the Northeast is currently unused. A temporary waiver could unlock 8 million cubic metres of gas quickly.
BP names heads for two main businesses after revamp
BP is reorganising its business into two core units, upstream and downstream. Gordon Birrell will lead the upstream operations, while Richard Harding takes charge of downstream on an interim basis. This strategic shift aims to simplify operations and refocus on oil and gas. Renewable energy investments will be scaled back.
Adani Energy Solutions to acquire IntelliSmart Infrastructure, a leading smart metering company
Adani Energy Solutions has executed a binding securities purchase and subscription agreement (SPSA) to acquire a 100% equity stake in IntelliSmart Infrastructure, a leading smart metering JV between National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL). The proposed acquisition will strengthen AESL's position as India's largest smart metering platform with over 4.7+ crore smart meters.
Data Patterns among 11 stocks hit 52-week highs, rally up to 25% in a month
Data Patterns, Adani Green Energy, Syrma SGS Technology and eight other BSE 500 stocks hit fresh 52-week highs on Tuesday, gaining up to 26% over the past month amid strong momentum and improving investor sentiment.
China Readying $295-Billion Blueprint To Power National AI Grid
To meet the high demands of artificial intelligence, large server farms are being moved to regions with plenty of renewable energy supplies.
Govt Forgoes Rs 1.23 Lakh Crore To Support OMCs After Petrol, Diesel Duty Cuts: Sources
The aid comes amid a global energy disruption triggered by the West Asia war and blockade of key maritime shipping route Strait of Hormuz.