Daily News Wrap-Up: MNRE Adds 4.1 GW of New Solar Module Capacity to ALMM

AutoNxt secures pre-series A funding to finance electric tractor launch

April 12, 2024


The Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) by adding 4,104 MW of new solar module capacity. The cumulative module manufacturing capacity under ALMM now stands at 41,333 MW. Premier Energies accounted for 1,320 MW of the newly added capacity, while Grew Energy contributed 1,150 MW. The other new additions include  ReNew (856 MW), Swelect HHV Solar Photovoltaics (474 MW), Agrawal Renewable Energy (83 MW), Integrated Batteries India (58 MW), Solberry Energy (56 MW), AG Solar Urja Udyog (53 MW), Total Solar Technologies (52 MW), and Contendre Greenergy (2 MW).

AutoNxt Automation, a Maharashtra-based e-mobility tech startup, has raised funds in a Pre-Series A funding round to finance the launch of its first electric tractor with self-driving options. The funding round was led by Saama, an India-based early-stage venture capital firm. Amit Singhal, former Head of Google’s search division, Suveer Sinha, India Head for KKR Capstone, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and other marquee investors also participated in the funding round. The companies did not disclose the amount raised.

Days after announcing an investigation into Chinese solar firms allegedly benefiting from state subsidies to win contracts in Europe, the European Commission is launching a probe into Chinese suppliers of wind turbines. As in the case of two solar firms winning contracts in Romania, the investigation into Chinese wind turbine suppliers is being conducted under the new Foreign Subsidies Regulation. The European Union inquiry will initially investigate ‘unfair trade practices’ in Bulgaria, France, Greece, Romania, and Spain and determine if cheap turbines from China are distorting the integrity of the European market. Under the regulation, the Commission has the power to investigate the existence and the effects of foreign subsidies and impose redressive measures once a distortion of competition has been established. Based on the evidence gathered, the Commission may go into an in-depth investigation, which will have an 18-month deadline.