NOVEMBER 20238AMPIN & JUPITER TO CREATE 1.3 GW SOLAR VENTURE IN INDIAAmpIn Energy Transition, previously known as Amp Energy India and a significant player in India's Independent Power Producer (IPP) sector, has unveiled a strategic alliance with Jupiter International Limited to create a joint venture exclusively dedicated to solar panel manufacturing. This partnership marks a crucial move to enhance India's solar cell and module production capacity, ultimately fostering self-sufficiency in the renewable energy industry.Within this joint venture (JV), the two partners will establish an advanced manufacturing facility with a focus on producing up to 1.3 gigawatts (GW) of high-quality solar cells and modules. This initiative is in line with the Indian government's Production-Linked Incentive (PLI) Tranche-II program, which is designed to boost domestic manufacturing, reduce global supply chain vulnerabilities, and decrease India's dependence on solar imports. AmpIn's venture into manufacturing is geared towards gaining control over the supply chain for critical components. This strategic move resonates with the growing demand for solar cells made in India.Jupiter International Limited, which already operates an 800 MW solar cell manufacturing facility in Himachal Pradesh, brings more than 15 years of experience producing efficient solar cells. This partnership harnesses Jupiter's expertise and combines it with AmpIn's dedication to delivering cost-effective renewable energy. According to the JV's terms, the solar modules will be used both domestically by AmpIn and provided to third-party developers, facilitating growth in both the domestic and export segments of India's renewable energy industry. LINDE WILL PROVIDE INDUSTRIAL GASES TO INDIAN OIL'S PANIPAT REFINERYLinde's branches in India have entered into extended contracts to provide industrial gases to Indian Oil Corporation's Panipat refinery in Northern India. Linde will establish, possess, and operate substantial on-site facilities to deliver hydrogen, nitrogen, and compressed dry air to Indian Oil through a Job Work arrangement. These new on-site facilities will assist in the significant expansion of the Panipat refinery, increasing its capacity from 15 to 25 million metric tons annually.Industrial gases play vital roles in the refining process, such as sulfur removal for clean fuel production, crude oil cracking into various products, and equipment purging and cleaning. The Panipat project will mark Linde's second major hydrogen plant constructed, owned, and operated for Indian Oil. It will also rank among Linde's largest on-site facilities in India, with a combined industrial gas production capacity of 142,200 cubic meters (Nm3) per hour. The plant is scheduled to become operational in 2025.Besides serving Indian Oil, the new on-site complex will fulfill nitrogen demand from various sectors, including chemicals & energy and manufacturing. Moloy Banerjee, President of ASEAN & South Asia at Linde, noted, "We secured this project due to the outstanding efficiency of our technology and Linde's proven track record in providing safe and reliable service to our customers. We are excited to strengthen our partnership with Indian Oil and expand our presence in Northern India". TOP STORIESADANI GREEN TO INVEST $750M IN SRI LANKA'S ENERGY SECTORAdani Green, a division of Adani Group, has announced a huge investment of $750 million in Sri Lanka's energy sector, Adani Ports and Special Economic Zone (SEZ) CEO Karan Adani told ET Now.This decision aims to strengthen Sri Lanka's energy infrastructure and accelerate the transition to cleaner and more sustainable energy sources.Sri Lanka, like many other countries, is placing great emphasis on developing its energy infrastructure to meet growing electricity demands while reducing environmental impact. Adani Greenland's significant investment is expected to play a key role in achieving these goals and securing a more sustainable energy future for the country.In addition to the investment in the power sector, Adani Group has plans to invest nearly $1 billion in the Sri Lanka West Terminal by the fiscal year 2026.CEO Karan Adani also shared his innovative vision for the future. Adani Group aims to export renewable electricity from Sri Lanka to India by building a transmission line between Sri Lanka and India. This cross-border cooperation could have a major impact on India's efforts to meet its energy needs with cleaner, greener energy sources.Additionally, Adani Group is also eyeing other geographies. They are actively seeking strategic investment and acquisition opportunities in the ports sector in parts of West Asia, neighboring countries and Southeast Asia. Adani Green Energy Limited (AGEL) is also planning an investment of Rs 14,000 crore and is targeting an operational capacity of 11 GW in FY24, its CEO Amit Singh said. HERO MOTOCORP TO ENTER EU MARKETSHero MotoCorp, the world's largest two-wheeler manufacturer, announced on Nov 7 that it will enter the European market with an electric scooter range next year. By mid-2024, the company intends to launch the VIDA V1 electric scooter line in Spain, France, and the United Kingdom."With this foray into Europe with our electric vehicles, I am confident that Hero MotoCorp will soon emerge as a trusted brand in key markets in the region, just as it has done in other parts of the world," Hero MotoCorp Executive Chairman Pawan Munjal said at EICMA motor show here.The company's philosophy to have a clean, equitable and hospitable planet for future generations is enacted through its products, and services, he added. Hero MotoCorp CEO Niranjan Gupta said the company is collaborating with credible partners in the UK, Spain, and France to start commercial operations in each of these markets by mid 2024."We will first introduce our electric scooter VIDA V1 in these countries and then expand our offerings with high-capacity premium ICE motorcycles and scooters, which are showcased here," he said.With expertise in providing high-quality personal mobility solutions at affordable prices, Gupta believes the new product line will be well received by customers worldwide.The VIDA V1 will be the first product to be released in multiple European markets, beginning with Spain and France. Concurrently, the company will begin operations in the United Kingdom. Hero MotoCorp plans to begin commercial operations in the region around the middle of the calendar year 2024. TOP STORIES
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