Daily News Wrap-Up: Ravicab Cables Acquires Leoni India, Enters Renewable Sector

Flipkart partners with Magenta Mobility to deploy 400 electric cargo vehicles t

September 14, 2022


Here are some noteworthy cleantech announcements of the day from around the world:

Ravicab Cables, a Bengaluru-based electric cable manufacturer, announced the acquisition of Leoni Cable Solution India (LCSI), a wholly-owned subsidiary of Leoni AG, a German cable manufacturer. The acquisition helps Ravicab increase its market reach and expand its product range. LCSI’s turnover in 2021 was €24.5 million (~$24.57 million). With this acquisition, Ravicab expects to have a strong foothold in the western part of India. Ravicab would also leverage the specialty products business of renewable energy and railways. Ravicab has acquired LCSI’s processes and systems for manufacturing specialized cables and brands like “Kerpen” and “Icon.” The companies did not share the financial details of the acquisition.

Flipkart announced its partnership with Magenta Mobility, an electric mobility solutions provider, to deploy electric vehicles (EV) for its last-mile transportation. With this collaboration, Magenta Mobility enters the National Capital Area (Delhi NCR) and will deploy around 400 electric cargo vehicles to the Flipkart fleet in Delhi NCR. This deployment would be over and above Magenta’s fleet for Flipkart in Bengaluru. Flipkart will utilize Magenta’s Electric cargo fleets, including the newly-launched Mahindra Zor Grand and other select OEMs, to accelerate the growth of EV adoption for last-mile logistics.

Rajasthan Electricity Regulatory Commission (RERC) has allowed the revised threshold of ₹2.5 billion ($31.46 million) to develop intra-state transmission projects through tariff based competitive bidding process in response to a petition filed by Rajasthan Rajya Vidyut Prasaran Nigam (RVPN). RVPN had submitted that the threshold limit of ₹1 billion ($12.58 million) is significantly less due to recent price escalations and challenges faced in transmission system strengthening, augmentation, up-gradation, renovation, and modernization works.

UST, a digital transformation solutions company, announced a strategic partnership with Green Grid, a climate-focused technology development, integration, and professional services business, to provide domain expertise, services, and artificial intelligence (AI)-enabled IT/OT solutions for Environmental, Social and Governance, and critical infrastructure management. UST and GGI will leverage their expertise and experience to develop AI and robotic-driven process automation for energy infrastructure that increases safety and reliability while improving the effectiveness of hydrogen storage and delivery and photovoltaic panel cleaning systems.

IKEA U.S. and SunPower, a residential solar technology and energy services provider, partnered to provide members of IKEA’s Family Customer Loyalty program, access to Sunpower’s home solar solutions. Customers can use these solutions to generate and store their own renewable energy and live more sustainably. Home Solar with IKEA is expected to launch in select California markets in Fall 2022.