Latest news with #ETEnergyworld
Time of India
18 hours ago
- Business
- Time of India
Waaree Energies planning to invest ₹14,700 cr to boost solar manufacturing capacity
New Delhi: Mumbai-based Waaree Energies is planning to invest around ₹14,700 crore over the next two years as part of a plan to boost its solar equipment manufacturing capacity multifold, Chief Executive Officer (CEO) Amit Paithankar and Chief Financial Officer (CFO) Sonal Shrivastava told ET Energyworld in an interview. "Our current module manufacturing capacity is 15 Gigawatt (GW) and by the end of 2027 we expect it to go up to 26 GW. Similarly, we currently have solar cells manufacturing capacity of 5 GW and that is likely to go up to 16 GW," Paithankar said. He said the company is concentrating on three major thrust areas - sales, production and projects. In the last quarter, its order book grew by ₹2,000 crore and it received a few good orders, worth around 2 GW, from the US. Production also jumped 64 per cent year on year. The company reported an 89 per cent jump in profit at ₹745 crore while revenue from operations grew 30 per cent to ₹4,426 crore in the June quarter. "On the projects side, we have a 10 GW cell factory coming up in Gujarat, another 10 GW ingots and wafers factory coming up in Maharashtra, and a 6 GW module factory coming up in Gujarat. All of these projects are moving ahead at full speed. Also, our new cell factory of 5.4 GW capacity in Gujarat is also ramping up well," Paithankar said. As part of its quarterly financial results last Monday, Waaree Energies had announced a capex of ₹2,754 crore to set up two plants -- including a 4 GW cell plant in Navsari, Gujarat, and a 4 GW Ingot Wafer Plant in Nagpur, Maharashtra -- which will be funded via a combination of internal accrual and debt. "We have done our capital planning well. We have planned capital expenditure of over ₹12,000 crore, in addition to the capex of ₹2,700 odd crore just announced, and all of this is planned to be deployed in the next two years," Shrivastava said during the interaction. She informed Waaree already has ₹7,500 crore of cash on its balance sheet, including around ₹2,700 crore that came from the recent IPO, along with zero debt. That means the company has enough balance sheet strength to look at cheap capital sources. "In addition, over the next two years, we are going to have additional internal accruals. So, we are very comfortable as far as the capital is concerned, for our expansion plans," Shrivastava said. Waaree Energy operates in two key markets including India and the US, and both of them are in the middle of a major growth cycle from an energy perspective. India deployed 24 GW of solar power last financial year and in the last quarter itself, the nation deployed 10.6 GW capacity, indicating a major pickup in growth momentum.
Time of India
15-07-2025
- Automotive
- Time of India
Moglix urges policy support for advanced bitumen use, lines up ₹600 crore for expansion
New Delhi: Moglix , a leading B2B e-commerce and supply chain technology firm, has recommended policy-level interventions to mandate the use of polymer-modified bitumen and micro-surfacing in road construction projects, while earmarking ₹600 crore for acquisitions in India. 'Our roads are the veins of Viksit Bharat. Building them stronger and smarter requires materials that are not only durable but sustainable,' Rahul Garg, Founder & CEO of Moglix, said in an interaction with ET Energyworld. Garg said the National Highways Authority of India (NHAI) should issue guidelines mandating advanced bitumen-based solutions. 'Polymer-modified bitumen improves durability, and micro-surfacing enhances road quality and energy efficiency,' he said. The company recently operationalised a greenfield bitumen manufacturing facility under DRG Industries at Kosi Kalan in Mathura. Built from scratch, the facility has an installed monthly capacity of 15,000 metric tonnes of polymer-modified bitumen products. The plant uses a mix of traditional fuels and bio-briquettes for heating. 'We've invested several tens of crores in this facility,' Garg said. The facility supplies North and Central India and uses trucks as the primary mode of transportation. While the core product is derived from crude oil, biofuels are used to power processing operations. 'Biofuels like biobriquettes are used only to generate heat for processing bitumen,' Garg said. Capital allocation and acquisition strategy On capital planning, Garg said the company has allocated ₹600 crore for greenfield and strategic acquisitions. 'This aligns with a broader investment plan we initiated about a year ago,' he said. Moglix is not currently planning any international expansion or setting up manufacturing facilities outside India. 'We'll run this plant for 6–12 months, gather learnings, and then decide. No immediate expansion plans,' Garg said. IPO preparation and regulatory roadmap Responding to questions on IPO, Garg said structural steps are still pending. 'Yes, but there are structural steps to complete first. We're incorporated in Singapore, which means we can't directly list in India,' he said. He added that the company operates with listed-company level governance. 'We're ready operationally, but regulatory processes take time. We're in no rush.' Garg said IPO readiness would depend on investor alignment and not capital constraints. 'It's more about aligning investor timelines—when to allow public participation and provide exits for private investors,' he said. Supply chain, AI applications, and future outlook On supply chain strategy, Garg said bitumen imports are largely from the Middle East and are not impacted by tariffs from the US or other regions. 'Most of our imports come from the Middle East, and tariff-related challenges there are minimal,' he said. Garg also said AI deployment is being explored in areas like predictive maintenance and quality control. 'Our R&D head is actively exploring such possibilities,' he said. Garg ruled out current plans in renewables and Southeast Asia expansion. 'We're still a young company—only 18 months into manufacturing,' he said.
Time of India
23-06-2025
- Business
- Time of India
India's Best Energy Events & Conferences: Powering from Renewables to Net Zero
India is undergoing an energy revolution. From scaling up renewables to unlocking digital energy solutions and targeting net zero, the country's power and sustainability sectors are at a pivotal juncture. To stay ahead in this fast-evolving landscape, attending India's top energy events isn't just beneficial—it's essential. The Economic Times, through its dedicated platform ETEnergyworld, hosts some of the most influential energy events & conferences and expos in India. These Energy events connect policymakers, industry leaders, innovators, and investors—driving critical conversations and transformative strategies. Whether you're a cleantech startup, a major utility, or a policymaker charting the path to carbon neutrality, these events deliver actionable insights, unmatched networking, and brand visibility in India's energy ecosystem. Top 5 Energy Events & Summits in India You Shouldn't Miss: 1️. Energy Leadership Summit & Awards: One of India's most prestigious forums, the Energy Leadership Summit & Energy Awards brings together the most influential names in power, renewables, and energy innovation. Why Attend: Honors top performers driving energy innovationFeatures sessions on grid modernization, policy, and energy storageBuilds credibility and leadership positioning for brands in the sector 2️. India Net Zero Forum: With India targeting carbon neutrality by 2070, this net zero renewable energy forum zeroes in on actionable strategies for decarbonization. Key Themes: Net-zero transition plans for corporatesRenewable energy integrationCarbon trading, offsets, and ESG disclosures 3️. Oil & Gas Annual Conference & Expo: Despite the global push for decarbonization, oil & gas continues to play a vital role in securing India's energy needs. The Oil & Gas Annual Conference & Expo by The Economic Times is a premier platform that not only hosts high-level discussions but also features a robust exhibition showcasing the latest innovations, technologies, and solutions across the sector. This Energy event delves deep into the transformation across the upstream, midstream, and downstream value chains, while the expo floor connects technology providers, equipment manufacturers, service companies, and investors under one roof. Highlights: Energy security strategies in a volatile global marketDigitization of oilfields and adoption of smart technologiesLive demos and product showcases of drilling tech, refinery upgrades, automation tools, and pipeline infrastructureNetworking with national oil companies, energy giants, and tech innovators 4️. Solar Power Congress: Solar continues to be the backbone of India's renewable ambitions. This Solar energy events & congress unites solar developers, tech providers, and regulators to discuss next-gen solutions. Focus Areas: PV innovation, hybrid models, battery storageRooftop and utility-scale solarPolicies, subsidies, and investment pipelines 5️. Smart Energy Summit: Where tech meets power. Explore how AI, IoT, blockchain, and smart meters are reshaping how energy is produced, distributed, and consumed. Smart Energy Summit is one the best energy events in India Why It Matters: Emphasis on smart grids and energy digitizationIdeal for startups, utilities, and tech innovatorsPractical demos and real-world case studies Why Attend The Economic Times' Energy Events? High-impact Networking: Meet policymakers, CXOs, innovators, and investorsBusiness Growth: Pitch your brand, unlock partnerships, and find clientsThought Leadership: Be part of India's strategic clean energy dialoguePolicy Access: Stay informed on regulatory trends that affect your businessMarket Intelligence: Get first-hand insights into sector priorities and shifts If you're working to decarbonize, digitize, or disrupt India's energy sector, this is where you need to be. Conclusion: Put These Dates on Your Energy Calendar: India's energy journey is one of the most ambitious in the world, and you have the chance to be part of it. From flagship forums like the Energy Leadership Summit to deep-dive gatherings like the India Net Zero Forum, The Economic Times' energy events are more than just conferences—they're catalysts for change. Don't just attend—lead, learn, and leave an impact.
Time of India
20-06-2025
- Business
- Time of India
Grid instability rises with renewable load; Siemens Energy backs tech fix with STATCOMs, SynCons
New Delhi: India is planning to deploy over 50 STATCOMs to address grid stability issues arising from the increasing share of solar and wind power, according National Electricity Plan - NEP. 'Today India has around 1,000 GVAs of transformation and it is going to more than 2,000 GVAs. Most of this growth comes from regions weaker in short-circuit strength, like the northwest, which have wind and solar but not necessarily grid infrastructure or rotating machines,' said Guilherme Mendonca, CEO and MD of Siemens Energy India Limited in an exclusive interaction with ET Energyworld. STATCOMs (Static Synchronous Compensators) and synchronous condensers (SynCons) are among the technologies being deployed to stabilise the power grid. 'Only this year, 10 STATCOMs were planned, and we won relevant market share,' Mendonca said. Siemens Energy said it is also supporting integration of rotating machines for inertia generation and combining SYNCONs and STATCOMs with battery storage to improve frequency and voltage stability. The issue of grid instabilty has become more pronounced as solar and wind generation increases during the day, followed by sudden demand shifts at night. 'It's not just about growing the grid with more lines and substations. It's critical to modernise the grid,' Mendonca said, adding that several substations continue to operate with aging transformers and breakers over 30 years old. Siemens Energy said it has started refurbishment work in Talcher transformers under Power Grid Corporation. 'As these assets approach the end of life, we are bringing in digital layers and new components to ensure grid reliability,' Mendonca said. The company is participating in India's Green Energy Corridor projects through tariff-based competitive bidding (TBCB) routes. Siemens Energy supplies substation equipment, SynCons and STATCOMs to developers like PGCIL, Adani, Sterlite, Tata and Apraava for renewable evacuation infrastructure. On HVDC (High Voltage Direct Current) corridors, the company said it is focusing on VSC (Voltage Source Converter)-based HVDC systems suited for renewable integration. Siemens Energy built India's first VSC-based HVDC link and is currently participating in VSC-based projects globally. The company has also set up a new test facility in Gurgaon for HVDC, STATCOM, and gas turbine instrumentation and control systems. The first project being tested at this facility is the a HVDC project in the UK. 'India will see more SynCons over time as base-load coal plants retire and renewable share increases. This year alone, globally, we've sold double the amount of SynCons sold two years ago,' said Tim Oliver Holt, Executive Board Member, Siemens Energy AG. India has raised its renewable energy target from 500 GW by 2030 to 600 GW by 2032. Mendonca said grid expansion, stability and modernization investments must keep pace with this growth to avoid widespread outages. On green hydrogen , Siemens Energy India is supporting its customers in developing business cases and strategies to capture this market. India has been very structured and ambitious program supporting the entire Industry, said Mendonca. The recent IOCL project with around 4 USD per kg of green hydrogen showcases the competitiveness India can offer. Siemens Energy India has invested ₹4.6 billion in its transformer factory in Kalwa doubling its capacity and built a Competency Hub and HVDC/STATCOM test facility in Gurgaon. It said India remains a strong export base for premium markets due to high quality, cost competitiveness and geopolitical factors. On future demand outlook, Siemens Energy expects 5 per cent-6 per cent annual grid market growth globally till 2030. In India, it projects even higher growth due to rapid GDP expansion and energy demand.
Time of India
20-06-2025
- Business
- Time of India
ET India Net Zero Forum 2025 spotlights industry strategies for decarbonisation, green hydrogen and ESG alignment
New Delhi: The ET India Net Zero Forum 2025 brought together over 40 senior industry leaders, policymakers and energy experts to deliberate on India's roadmap towards its net zero targets, with specific focus on decarbonising value chains, scaling green hydrogen demand, ESG integration , clean fuel transition, and rural sustainability. Organised by ET Energyworld in partnership with SAEL, Pipeline Infrastructure Ltd (PIL), TruAlt Bioenergy , GoodEnough Energy, SKF, Gautam Solar, NLC India and Hindustan Urvarak & Rasayan (HURL), the day-long conference featured keynote sessions, panel discussions, fireside chats, and industry dialogues covering ten distinct themes. The forum opened with discussions on India's decarbonisation strategies across sectors. Senior government officials highlighted the urgency of aligning national energy systems with climate targets while scaling domestic capabilities in renewables, nuclear energy, and storage technologies. The event covered a wide agenda including the status of India's 2070 net zero ambition, industrial emissions, climate finance , policy reforms, clean energy adoption in manufacturing, and transition challenges in hard-to-abate sectors such as steel, cement, oil and gas. A dedicated panel examined the role of green hydrogen in India's energy independence, detailing how blending hydrogen in refining and fertilizers, public procurement of green steel, and expanding export potential can help reach the 5 MMT target by 2030. The event also addressed Scope 3 emission challenges across sectors such as FMCG, agriculture, and pharmaceuticals. Discussions focused on supplier engagement, regulatory hurdles, and third-party verification of emissions data. The session on agri-waste-to-energy explored how bioenergy can serve as a complementary pillar in India's clean energy mix, while another session on energy storage focused on post-sunset reliability and the role of battery infrastructure in supporting renewable grid stability. A session on green power procurement and electrification in commercial operations highlighted state-specific bottlenecks and evolving procurement mechanisms. The panel on ESG and corporate climate accountability reviewed how large businesses are incorporating emissions tracking, circularity, and sustainability-linked KPIs into their operational frameworks, with strong emphasis on Scope 1, 2 and 3 data transparency. Sectoral sessions included a deep dive into emissions from oil refining, natural gas infrastructure, renewable mix in cement production, and electrification in automotive manufacturing. Another session looked into the textile and fashion industry's water consumption, waste, and circularity potential, especially in the context of fast fashion and rural employment. The forum concluded with deliberations on atomic energy's role in India's transition strategy and the need for innovation and resilience planning in a climate-vulnerable economy.
