Reliance Industries [RIL:IN], the largest publicly traded company in India, has signed definitive agreements to acquire a 100% equity in UK sodium-ion battery technology firm Faradion for GBP100m (USD135m), as reported by Bloomberg on December 31. Moreover, Reliance will inject an additional GBP25m (USD33.75m) into...
India’s electric mobility solutions provider ETO Motors has reached an agreement with electricity distributors BSES Rajdhani Power, BSES Yamuna Power, and Tata Power [TPWR:IN] Delhi Distribution Limited (Tata Power-DDL) to install 3,000 electric vehicle (EV) charging stations in the Delhi National Capital Region (Delhi-NCR) over the...
China’s state-owned enterprises (SOEs) must decrease their energy consumption and carbon dioxide emissions per unit of output value by 15% and 18% by 2025 from 2020 levels, respectively, as reported by Reuters on December 30. Additionally, for state-owned electricity generation firms, renewable energy is supposed...
India’s Electric Vehicle (EV) start-up Earth Energy plans to spend USD13.4m over the next two years on production capacity expansion, as reported by Economic Times on December 30. According to Earth Energy CEO Rushii Senghani, the company will use the fund for boosting production and...
Alibaba Group [BABA:US], a Chinese e-commerce giant and one of the largest tech companies in the world, pledged to achieve carbon neutrality in its operations and reduce emissions across its supply chains and transportation networks by 2030. The commitment comes from its 2021 Carbon Neutrality...
Korean conglomerate SK Group [034730:KS] will announce its vision to reduce 1% of global carbon emissions at the Consumer Electronics Show 2022 (CES 2022), as reported by the Korea Herald on December 29. According to Andrew Kwon, Vice President and Head of Strategy at SK...
China plans to include financial institutions, non-ferrous metals, and building materials in its national emissions trading scheme (ETS), as reported by Reuters on December 29. Specifically, the non-ferrous metal and building materials sectors are expected to join the ETS market as early as 2022. Other...
The Indian government has advised automakers to produce flex-fuel vehicles (FFV) aligned with BS-VI emission norms within six months, as reported by Economic Times on December 27. FFV, or dual-fuel vehicle, is equipped with an internal combustion engine that consumes more than one type of...
Indian two-wheeler and tricycle manufacturer Bajaj Auto [BJAUT:IN] will invest INR3bn (USD40m) to develop an electric vehicle (EV) facility in the village of Akurdi that will produce 500,000 vehicles per year, as reported by Economic Times on December 29. Bajaj Auto's suppliers will contribute an...
China will remove restrictions on overseas investment in domestic passenger car manufacturing from January 1, 2022, as reported by CNBC on December 27. The announcement came as a document regularly released by China’s NDRC and the Ministry of Commerce (MOFCOM) to list sectors restricted from...
China and Cuba have signed a cooperation agreement to push forward construction projects in Cuba under China’s Belt and Road Initiative (BRI), as reported by Global Times on December 26. The collaboration came after Cuba joined the Belt and Road Energy Partnership (BREP), an alliance...
CLP Power [0002:HK], one of Hong Kong’s two major energy producers, will spend HKD32m (USD4.1m) in 2022 to help local enterprises improve power efficiency with facility upgrade and training, as reported by SCMP on December 28. In addition, CLP will also provide HKD100m (USD12.82m) of...
The Bank of Japan (BOJ) [8301:JP] has provided USD18bn in loans to financial institutions in the first auction for its new climate scheme to combat climate change, as reported by Reuters on December 23. BOJ will distribute zero-interest loans amounting to USD17.94bn on December 24,...
China’s NDRC and Japan’s Ministry of Economy, Trade and Industry (METI) will collaborate on producing synthetic methane, a renewable alternative to natural gas, from recycled hydrogen and carbon dioxide (CO2), as reported by Nikkei Asia on December 26. The facility will be built in China’s...
Korean Electric Power Corp (KEPCO, [015760:KS]) will lead a consortium to construct and operate a subsea power transmission system worth USD3.6bn with Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA), as reported by Korean Economic Daily on December 23....
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