Daily News Wrap-Up: Saatvik Launches Bifacial Half Cut MBB Solar Modules
Jindal Worldwide acquires Mumbai-based EV start-up Earth Energy EV
Here are some noteworthy cleantech announcements of the day from around the world:
Saatvik, an Indian module manufacturer, launched the Bifacial Half Cut MBB Solar Modules with 545W output and 21.12% efficiency. The company would be one of the first manufacturers to start with the production of 545W bifacial modules using M10-sized cells with BIS & IEC certificates. The backside of bifacial modules could provide up to 25% additional power gain. They can also provide significant gains on grasslands and dry sand, especially in snowfields. The modules are based on the advanced mono wafer and PERC Half-cut technology, which would help bring solar plants to a 545W+ solar era with a linear warranty of up to 30 years.
Jindal Worldwide announced the acquisition of Mumbai-based electric vehicle (EV) startup Earth Energy EV through its subsidiary Jindal Mobilitric. In addition to the acquisition, Jindal Mobilitric would set up a new manufacturing plant in Ahmedabad, supplementing the existing Earth Energy manufacturing facility in Maharashtra. The acquisition will see Jindal Mobilitric take over the indigenously developed technology platform as well as Earth Energy’s brands — Glyde SX and the Glyde SX+ variants of its commuter scooter as well as the — Evolve R and the Evolve S commuter and cruiser motorcycles. The EV startup has already appointed distributors across ten states which Jindal Mobilitric will retain. The company will also add new touchpoints by strengthening the distributor network in each market.
Hong Leong Bank announced the issuance of its first Green Additional Tier 1 (AT1) Capital Securities amounting to RM900 million (~$206 million) in nominal value, issued under HLB’s existing multi-currency securities program of up to RM10 billion (~$2.29 billion). The issuance of the Green Capital Securities also achieves the milestone of being the first issuance of a green AT1 bond by a bank in Malaysia. HLB seeks to raise funds to finance or refinance new or existing green assets, projects, or companies that meet the eligibility criteria outlined in HLB’s Green Bond Framework.
Maxeon Solar Technologies unveiled the SunPower One integrated home energy solution. This technology is based on a flexible ecosystem of products and services, including Maxeon’s market-leading solar panels, battery storage, and actionable household energy insights. The SunPower One solution will enable consumers to take control of their domestic energy consumption. Designed to be intuitive and engaging, the technology would proactively advise homeowners on ways to optimize their energy usage. Over time, it will learn about a homeowner’s electricity consumption pattern and suggest strategies to drive further energy bill savings.