Daily News Wrap-Up: ReNew Power Plans Solar Manufacturing Facility in Gujarat
bp partners with CEMEX to deliver net-zero CO2 concrete globally
May 19, 2021
Here are some noteworthy cleantech announcements of the day from around the world:
Renewable energy company ReNew Power plans to develop a solar cell and module manufacturing facility in Dholera Special Industrial Region, Gujarat. The greenfield facility will manufacture 2 GW of solar cells and modules annually with monocrystalline passivated emitter and rear contact and large wafer technology. The 100 acres of land allotted will ensure space availability for future capacity expansion. The project is expected to commence operations from the fiscal year 2023. The manufacturing capacity being set up will incorporate ReNew Power’s sustainability initiatives and ensure decarbonization of manufacturing processes and supply chain to create a ‘Green Factory’ of the future.
British oil and gas company bp has partnered with CEMEX to fast-track the latter’s 2050 ambition to deliver net-zero CO2 concrete globally. Under a memorandum of understanding, the two firms have agreed to develop solutions to decarbonize the cement production process and transportation. Additionally, they intend to work to develop urbanization solutions envisioned to decarbonize cities.
National Solar Energy Federation of India (NSEFI) has raised concerns of alleged delay in issuing a letter of intent (LoI) by the Uttar Pradesh New and Renewable Energy Development Agency with the state government. Stating that several developers had participated in a bid in February 2020, NSEFI said that the LoI was expected to be issued within 94 days of the e-reverse result. However, unit members haven’t received the LoI. NSEFI, which is an umbrella organization for solar energy stakeholders, has claimed that while construction could not begin as a result of the delay, raw material prices have fluctuated in the meantime.
Borosil Renewables filed its financial statement with BSE. The company’s total income from operations in the fourth quarter (Q4) of the financial year (FY) 2021 was ~₹1.94 billion (~$26.43 million), while the firm’s income from operations in FY 2021 was ~₹5.02 billion (~$68,392 million). The company’s income in Q42020 was ~₹942.6 million (~$12.84 million). Borosil Renewable’s net profit for Q42021 after the tax deduction was ~₹668.75 million (~$9.11 million). The company saw a net profit of ~₹40.53 million (~$552,181) in the same period the year before.
Srinwanti is a copy editor at Mercom India, where she writes and edits news stories across the clean energy spectrum. Prior to Mercom, she has worked in book publishing at Macmillan Publishing House and Integra and honed her editorial and writing skills in both online and print media such as Reuters, Times Group Books, The Times of India, and Pune Mirror, covering local to international stories. More articles from Srinwanti Das.