Daily News Wrap-Up: BHEL Wins ₹32 Billion Work Orders for Hydro Turbines and Pumpsets
LG Electronics to set up a joint venture with Canada’s Magna International
January 1, 2021
Here are some noteworthy cleantech announcements from around the world:
LG Electronics announced its plans to set up a joint venture (JV) with Canada-based automotive supplier Magna International to manufacture electric motors, inverters, and on-board chargers. It also plans to manufacture related electronic drive systems to support the growing global shift toward vehicle electrification for specific automakers. The JV will be tentatively called ‘LG Magna e-Powertrain’ and aims to capture the market for these components, which is expected to grow significantly before 2030.
Government-owned Bharat Heavy Electricals Limited (BHEL) said it has secured electro-mechanical (E&M) work orders worth ₹32 billion (~$437.4 million). The orders are for a hydroelectric project in Andhra Pradesh, and E&M works for pump-motor sets for lift irrigation programs in Telangana. The E&M order in Andhra Pradesh is for manufacturing and supplying Kaplan hydro turbines – the country’s largest unit-rated turbines. BHEL received these work orders from engineering, procurement, and construction contractors of the projects – Megha Engineering and Infrastructure.
Filatex India Limited, a polyester filament yarn manufacturer, announced that it completed and commenced commercial operation of its captive rooftop solar power projects at Dahej and Dadra on December 30, 2020. The Dahej project was rated at 1 MW in capacity, while the one in Dadra was rated at 400 kW.
The Ministry of Finance of the People’s Republic of China (MOFPRC) issued a notice aimed at improving the financial subsidy policy for the promotion and application of new energy vehicles. It said that the current framework for purchase subsidies would remain unchanged in 2021 to help create a stable policy environment. It also proposed to improve the methods and standards for new energy vehicle testing. It plans to instill a sense of responsibility in manufacturers to encourage them to voluntarily carry out defect investigations and recalls. The ministry said the notice would come into effect starting January 1, 2021.
Nithin Thomas Prasad
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